Columbia, SC (WLTX) - South Carolina State University's Board of Trustees approved a new budget for the current fiscal year.
The board signed off on the $75 million spending plan Friday afternoon by a 10-1 vote.
Before that vote, the budget committee of the Board of Trustees gathered to review options for getting the school's finances in order and approve a spending plan.
Boardmembers were told that a total enrollment of 3,670 is needed to make all the numbers work for the upcoming school year. There's also a plan to raise parking fees by 10 percent.
Last month, there was some speculation the university was considering cuts to the athletics program, including the men's basketball team. But in discussions Friday, the school said that drastic step won't be necessary, because the athletics department found alternative revenue.
A different funding stream will also allow the the Felton Laboratory remain open with no net cost to the school.
The budget committee approved the budget, sending it to the full committee for review. After a brief closed-door meeting, the committee came out and approved the deal.
Last month, trustees were told as much as $7 million needed to be cut from the budget. In response, trustees voted for a 3.2 percent tuition increase for in-state students and a 5 percent increase for out-of-state students as a way to increase revenue.
Elzey told state lawmakers in April the school had more than $13 million in debt. At the time, the South Carolina Budget and Control Board gave the school a $6 million loan in April to help the university make some of its payroll commitments.
The school is currently on probation by the Southern Association of Colleges and Schools because of its financial and governance issues.