After suffering the lowest IU-Bloomington freshmen enrollment in four years and 613 fewer freshmen than the previous year, last fall the University appeared to be in serious financial despair. However, after enrollment numbers became known for the current school year, University officials said the outlook is more optimistic.
The 2005 enrollment report was presented at the Friday board of trustees meeting. Most significantly, freshmen enrollment increased 9.3 percent, with 659 more freshmen attending IUB this semester than in the fall of 2004.
The increase in freshmen students gives the University some much-needed finances, said Vice President and Chief Financial Officer Judith Palmer at Friday's meeting.
The jump in freshmen enrollment gives IU $2.5 million dollars more than what was projected for the fall semester. However, for the year, the University is at a net gain of $500,000 for the projected budget because of lower than expected summer enrollment numbers.
"We were 613 freshmen below budget last year," said Neil Theobald, Bloomington vice chancellor for budgetary administration and planning. "So the number last year was artificially low. Basically we are back, maybe a little over, but not tremendously over that difference."