By Melissa Dunson

mdunson@joplinglobe.com

Money was again the issue at Friday’s Missouri Southern State University Board of Governor’s meeting.

University President Bruce Speck reaffirmed his commitment to the board to cut $500,000 from next year’s budget in an attempt to get the school’s spending in line with its income.

According to a financial report presented by Linda Eis, board treasurer, Missouri Southern has increased its net assets by nearly $1.4 million beyond those at this time last year. In 2007-2008, there was increased state funding and private gifts, but the university also saved money in the areas of health insurance, other benefits, utilities and other operating expenses during the year.

“These look to be tough budget years,” Speck said. “We will undoubtedly grow weary of the term leanness in terms of our budget, but the policy of leanness is meant to bring us into fatness in the future.”

Speck said there is a chance the university will have to revise its budget in the spring, so he would prefer to shoot low now and increase the bottom line later rather than trying to cut costs when the money has already been spent.

During the meeting Friday, the board also unanimously voted to accept bids from the banks currently handling the university’s cash deposits and credit-card processing.

The board chose Great Southern Bank’s bid to handle Missouri Southern’s cash deposits over three other bidders because the bank provided the best guaranteed interest rate and does not charge for its services. Missouri Southern has used Great Southern to handle its cash deposits for the last five years, and the contract will continue for at least two years and possibly up to four.

The board accepted a bid from Bank of America to handle its credit-card processing. Five others submitted bids. Bank of America is Missouri Southern’s current service provider and presented a bid $10,000 lower than the next lowest bidder.

During the meeting, Dwight Douglas was re-elected to the position of board chairman. This will be his fourth year in the position. Board member Rod Anderson was elected as the new vice chairman, replacing Jane Wyman. Sharon Odem, university president’s secretary, was re-elected to the position of board secretary, and Eis was re-elected to the position of treasurer.

Construction is continuing on a student recreation center and the new health-sciences building. Terri Agee, a university vice president, said construction crews are pouring the walls of the recreation center. Agee said the structural steel will be delivered in the next couple of weeks.

She said the remaining offices in the Billingsley Student Center are being moved next week in preparation for the construction work.

Construction crews have already removed the parking lot where the health-sciences building will sit and have laid a concrete pad for the building. Agee said both projects are still on schedule.

The board members at Friday’s meeting were Douglas, Anderson, Charles McGinty, Nancy Perry and Dick Walter. Carla Huntington, Faculty Senate representative, David Ansley, David Jones and Wyman were absent.