Faculty and staff at Oklahoma State University will have to wait for performance-based pay raises after low enrollment numbers resulted in a budget shortfall.
The Oklahoman reports that university officials announced Monday that the school will need to postpone the 2.5 percent merit-based pay raise program, which was scheduled to take effect Jan. 1.
Joe Weaver is the university's senior vice president of administration and finance. Weaver says a nearly 2 percent drop in enrollment has cost the university about $5 million in tuition and fees.
He says graduation rates among fourth- and fifth-year seniors improved more quickly than university officials expected.
Weaver says university officials remain hopeful the school can implement the pay raise program for the next fiscal year, beginning July 1.
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