The Auburn University Board of Trustees has proposed an increase in on-campus housing rates throughout the next three years.
A report to President Jay Gogue from Bob Ritenbaugh, assistant vice president for auxiliary services, submitted Jan. 23, said the proposal was based on data collected by University housing staff.
"Generating a surplus for deferred maintenance, renovations, increased debt retirement obligations, operating expense inflation and nonrecurring expenditures is critical to ensuring adequate funds are available to sustain and maintain suitable and attractive on-campus residential living facilities," according to the report.
The report stated Auburn's current housing costs rank in the bottom quarter of SEC institutions' housing rates.
For the 2011-12 school year, students pay $2,365 and $2,045 for Quad and Hill double rooms, respectively, and $2,660, $2,940 and $3,130, for Hill, Quad and Village single rooms, respectively.
The new model is expected to push Auburn's rates to the midpoint of SEC housing rates in the next three years.
For the 2012-13 school year, the Board proposed double room rates in the Quad and Hill increase by 9.9 and 10 percent, respectively.
Rates for occupancy rooms in the Village are proposed to increase by 8.5 percent, the Quad by 8.8 percent and the Hill by 9 percent. These rates are expected to increase through the 2014-15 school year.
As a result, the 2014-15 school year students will be paying $3,100 and $2,750 for Quad and Hill double rooms, respectively, and $4,000, $3,800 and $3,450 for Village, Quad and Hill single rooms, respectively.
Housing is expected to put away a portion of each year's income for a reserve fund, which is expected to be at $11,412,909 by the end of the 2014-15 school year.
"As an auxiliary enterprise it is essential for housing to operate in a fiscally self-sustaining manner," the report said. "The housing rates increases for the next three academic years ... should not negatively impact student demand or residential occupancy levels."
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