Brenau begins the 2015-16 academic year with a slate of exciting developments, including four new sorority houses and a nearly complete 72-unit residence hall on the historic Gainesville campus. Other new additions include a psych research lab, a physical therapy clinical practice and a softball athletic complex — not to mention an entirely new campus in Jacksonville, Florida.
Even more impressive, the university appears to have been able to bring in all those new developments without going into the red. While an official 2014-15 fiscal year audit is not finished for the 12-month period that ended june 30, Chief Financial Officer David Barnett said he anticipates that it will show Brenau began the current fiscal year with a surplus. That would make it the 11th straight year the university has wrapped up a fiscal year with more income than expenses.
“There aren’t many private schools in the South that can say that,” President Ed Schrader said at Aug. 17’s university-wide staff and faculty meeting in the Pearce Auditorium.
Barnett said Brenau’s 2015-16 fiscal year budget is roughly $48 million, representing a 22 percent increase from three years earlier and 90 percent higher than the budget a decade ago when Schrader first came to Brenau. The university, he said, is additionally supported by another $48 million in endowments. Earnings from those invested funds also count in the revenue picture.