By Heather Bowser, Daily News-Record

Most private schools have endured a tough year financially, but 91¶ÌÊÓƵ has bucked that trend, officials there say. The Harrisonburg university remains “financially healthy,” recently passing a budget 3.4 percent larger than last year’s, 91¶ÌÊÓƵ administrators said Tuesday.

The school’s 17-member board of trustees approved a $28.5 million spending plan for fiscal 2010, a figure that’s $952,000 more than in the 2009 budget.

91¶ÌÊÓƵ recently approved a $28.5 million budget plus a capital renovation plan that includes the overhaul of the Mainstage Theater and other sites in the University Commons building at a cost of $2.4 million. Photo by Nikki Fox

The increase was primarily driven by enrolling 84 more full-time students than in 2009, said Ron Piper, 91¶ÌÊÓƵ’s vice president of finance. This year, 1,243 full-time students are enrolled at the university.

Also, nine more students are paying to live in dorms this year, which generates additional revenue, Piper said. With those two contributing factors, 91¶ÌÊÓƵ was able to fill three non-teaching full-time positions previously left vacant.

In addition to approving the budget, university officials also adopted a $2.4 million spending plan to renovate the Mainstage Theater and other sites throughout the University Commons building.

91¶ÌÊÓƵ is planning on renovating parts of the University Commons building, including the Mainstage Theater. Photo by Nikki Fox

“91¶ÌÊÓƵ is doing moderately well in a challenging economic environment,” said Kirk Shisler, 91¶ÌÊÓƵ vice president for advancement. “We are optimistic that we will be close to our fundraising targets.”

By The Numbers

Here’s a quick wrap-up of budget and money matters decided by 91¶ÌÊÓƵ’s trustees and provided to the Daily News-Record on Tuesday by Piper.

Faculty, staff and “friends of the university” contributed $131,000 for “emergency student aid.” The fund was created to make up for a drop in scholarships from endowment investments. While total giving to the university is up 18 percent year to date, alumni giving to the annual fund is off 8 percent.

91¶ÌÊÓƵ’s new budget allocated $6,500 more in funding – up from $35,500 last year to $42,000 – to increase student counseling services.

Money for capital projects is down from last year’s $730,000 by about 42 percent to $420,300.

Renovation projects include a $120,000 job in the library building to create a new classroom for the Center for Justice and Peacebuilding. That project will change the facade of the building slightly on the east and north by adding windows on the lower level.

91¶ÌÊÓƵ’s board also authorized the administration to borrow $6 million to renovate Elmwood and Maplewood residence halls. Those projects are expected to start this summer and be completed by January 2011 and June 2011, respectively.

By Dan Wright, Daily News-Record

One of the things Karl Stoltzfus learned at 91¶ÌÊÓƵ was to do the math.

A statistics class taught the 1972 graduate and founder of Dynamic Aviation to mitigate risk in a high-risk business.

“What’s the statistical probability of something happening?” Stoltzfus asked. “Then, how many factors can you set in place to mitigate against that happening?”

91¶ÌÊÓƵ President Loren Swartzendruber (right) and 91¶ÌÊÓƵ graduate and founder of Dynamic Aviation Karl Stoltzfus chat after the Harrisonburg Rockingham Business & Professional Club Annual Appreciation Luncheon Friday. Photo by Michael Reilly

Stoltzfus spoke Friday to about 70 members of the Harrisonburg-Rockingham Business & Professional Club, which partners with 91¶ÌÊÓƵ.

As an example of risk mitigation, he cited the company’s decision to fly only multiengine aircraft. If one engine fails, the aircraft is capable of flying to the next airport.

If a single-engine aircraft loses its engine, you have what Stoltzfus calls an “off-airport emergency landing.”

Stoltzfus estimates that over a 15-year period his company avoided seven to 12 off-airport emergency landings by not flying single-engine aircraft.

“We fly a lot at night. We fly over the world’s most dense rain forest in southern Panama,” he said. “We don’t want an airplane flying over that terrain with one engine.”

Funding Priorities

Before Stoltzfus spoke, 91¶ÌÊÓƵ President Loren Swartzendruber summarized some funding priorities as the university prepares to launch a capital campaign.

91¶ÌÊÓƵ should increase annual contributions to the University Fund by 7 percent annually over the next five years, with a goal of $1.9 million.

The university’s endowment fund needs to be increased from $24 million to $40 million by 2014.

“Twenty-four million dollars is too small for an institution [with an enrollment of 1,600],” Swartzendruber said.

New science labs and renovation of Suter Science Center will require $30 million in contributions and grants, he added.

Renovation of the University Commons will cost $8.3 million, and an alumnus has contributed $3 million as a matching gift.

Celebrating its 90th anniversary, 91¶ÌÊÓƵ is among Harrisonburg’s top 10 employers, with a work force of 360 people.

Each year, the university spends $16 million on salaries and benefits and pumps $21 million into the Shenandoah Valley’s economy.

Over its 90-year history, 20,000 teachers, nurses, social workers and business leaders have graduated from 91¶ÌÊÓƵ, Swartzendruber said.

“91¶ÌÊÓƵ does have an economic impact on this community,” he added.

91¶ÌÊÓƵ At A Glance

• Founded 1917
• Enrollment 1,600
• Faculty & Staff 360
• Payroll $16.3 million
• Annual budget $28 million
• Economic Impact on the Shenandoah Valley $21 million

By Dan Wright, Daily News-Record

91¶ÌÊÓƵ spends millions of dollars in the Shenandoah Valley, provides hundreds of jobs and helps hundreds of people improve their business skills.

Of its $28 million budget for fiscal 2005-06, 91¶ÌÊÓƵ pumped $20.6 million into the Shenandoah Valley