ALLENDALE, Mich. -- In a sign of confidence in the university’s future as it heads into the 2023-2024 school year and a nod to inflation, Grand Valley’s Board of Trustees on Friday approved a budget that includes a performance-based compensation pool increase of 4.5 percent for faculty and administrative professional staff.
The move represents the largest potential pay increase for faculty and staff in more than a decade.
“The health of GVSU comes amid stories across our nation about the struggles being faced by many universities,” President Philomena V. Mantella said in an email sent to faculty and staff after the vote. “Our success is a testament to your hard work and the intentionality of our efforts to continuously enhance the value of a GVSU education and tell our story to lawmakers and the greater community.”
GVSU is expecting one of the largest and most diverse classes in its history to enroll this fall. With the implementation of the Michigan Achievement Scholarship for incoming first-year students and increases in financial aid, the cost to attend the university is expected to decline for many incoming students.
In other business:
- The board approved a resolution to allow alcohol sales at football and basketball games, pending final approval of a bill by the state legislature and the governor. The approval allows the university to begin planning for how it might implement alcohol sales at sporting events if the bill is signed into law.
- The board approved the purchase of a 4.31 acre site adjacent to its Pew Grand Rapids Campus for $16.5 million from its reserve fund. The university has no near-term plans for the property, which is currently leased to a medical device manufacturing company. GVSU plans to honor the current tenant’s lease with proceeds from the lease partially offsetting the acquisition cost. Acquisition of the land is in line with the university’s long-term goals for the Pew Campus contained in the recently approved campus master plan.
