Fairmont State starts spring semester focused on financial strength and economic impact
For more than 150 years, Fairmont State University has been making an impact in North Central West Virginia and across the state. During Wednesday’s spring semester opening session, faculty and staff were reminded of the economic impact and strength of the institution.
“Not only is Fairmont State the third largest employer in Marion County but it has an economic impact of nearly 6:1,” said Provost Richard Harvey. “The state gives us approximately $14.5 million in funding each year and our economic impact is $83 million. Turning one dollar into nearly six is something we can be really proud of.”
The University finished fiscal year 2018 with a strong financial position following President Mirta Martin’s implementation of cost saving/containment and strategic initiatives in January 2018.
"The efforts of the entire campus community in cost saving initiatives, as well the implementation of GASB 75, helped us move from a financial loss in net position of $2.9 million in 2017 to a gain in net position of $1.9 million in 2018,” Chief Financial Officer Christa Kwiatkowski indicated. “That’s quite an accomplishment. We all made changes where we could and it made a world of difference.”
Looking ahead to 2019, President Martin says that Fairmont State must continue to be the aspirational and inspirational heart of North Central West Virginia.
“We must continue to provide access to an affordable and superb education to all that seek one. Knowing what we need to do is the easy part…the challenge is how we do it.”
Martin says the path forward is centered on one thought—There’s no growth in comfort.
“For us to continue to grow, and grow we must; for us to achieve more than we thought ever possible, we must be willing to leave behind the comfort of how we’ve always done things and embrace new ways of working together.”
The mantra for the spring semester at Fairmont State will be “engagement.” Through active participation locally, regionally, state-wide and nationally, Fairmont State will deliver the life-changing educational experiences our students seek and deserve.
spring 2019economic growthstability
