The Southeast Missouri State University Board of Regents has approved a $114 million operating budget, an increase in faculty, a renewal of President Carlos Vargas' contract and new degree programs.

In June, the Board of Regents gathered in St. Louis for a two-day retreat to set the goals for the upcoming academic year and the fiscal year of 2017. Approval of the budget, a faculty increase and an extension of Vargas' contract were some of the issues addressed. New degree programs coming to campus -- such as the unmanned aircraft and Global Information Systems -- also were approved.

The $114 million operating budget will be used for salary payments, daily expenses of the university and facility maintenance. Another $37.8 million auxiliary operating budget also was approved for areas such as Residence Life, Student Recreation Services and textbook services.

The funding for the operating budgets comes from student tuition, fees and legislative funds.

Board of Regents President Jay Knudtson said one of the board's purposes is to maximize the amount of funding available without raising tuition and maintaining the university's affordable rates.

"The university has to identify and manage revenues without doing it on the backs of students," Knudtson said. "That's really the goal, is to make sure that we don't necessarily balance our budget by just simply increasing tuition. While there are typically modest increases, we work very hard to stay committed to being a low-cost provider of education."

The university received a 4 percent increase in state funding appropriations for the fiscal year of 2017, an overall $1.918 million increase. The university received this increase after meeting the Missouri Department of Education's funding requirements.

"It takes a lot of money to run a major university," Knudtson said. "In the past we had a much larger emphasis on legislative dollars. Obviously, Southeast Missouri is a state-funded university. The problem with that is that we are less and less a state-funded university every day. Ten years ago, the state legislature was a significant contributor to our budget, today that's hovering right around 40 percent."

Another $73.7 million was approved for capital funding requests that will be put toward the funding of campus-wide improvements, including renovations to Johnson Hall, Art Building and Pacific Hall.

The university also approved an increase in the number of faculty at Southeast.

"I'm proud to report that for the first time, we are fully staffed as an organization," Knudtson said. "Southeast Missouri State is positioned as well as it ever has been to both embrace the challenges that lie ahead but yet excel at the excitement that lies ahead."

Knudtson said he was excited for the improvements coming to Southeast this year, including the Greek Village, the Speech and Hearing Clinic and completed renovations of the Show Me Center.

"It's a neat time to be a Redhawk right now," Knudtson said. "I'm very proud to be a part of this university and very proud of the people that are leading this university."

Last year, Southeast launched the "Will To Do" rebranding campaign, and Knudtson said many of the improvements are an extension of that brand.

"That's how we ensure success going," Knudtson said. "We have to be fresh. We have to be recognizable, and we have to leverage our brand. Our brand as Redhawks is the 'Will To Do.' The extension of the brand is the Show Me Center as well as things like Greek Village, the River Campus, the new [Center for Excellence in Mass Media], that stuff is all really cool and is what reinforces our brand."

Knudtson said another goal for the board and Vargas is to increase student retention. Knudtson said he believes improvements to the university will put it in a position to provide a culture that will keep Southeast students returning for the entirety of their undergraduate degrees.

The Board of Regents is made up of six members, three Democrats and three Republicans, who are appointed by the governor of Missouri for a six-year term. The Board of Regents is delegated to hire and, if needed, fire the president of the university and decides on the budget. The board meets six times a year to discuss issues related to the university and take suggestions from Vargas on new programs, improvements and strategies for university success.