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Budget symposium 2024: Miami looks to diversify as tuition revenue falls

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Budget symposium 2024: Miami looks to diversify as tuition revenue falls


After a $36 million budget deficit from last fiscal year, Miami University’s annual budget symposium brought news of a lower, but still existent, deficit.

“While Miami University’s overall financial performance last year was good, education and general spending exceeded its revenue by $10.3 million, and required a reduction in the reserves overseen by the Provost,” one of the presentation’s slides read.

The symposium, which took place on April 22, was led by university Provost Liz Mullenix and David Creamer, senior vice president for finance and business services and university treasurer. During the symposium, Mullenix and Creamer attributed the problem to a decline in tuition revenue.

In one graphic, Miami was compared to 100 other top doctoral-awarding institutions. Creamer said that among all the other institutions, Miami relied most heavily on tuition revenue for its funding.

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“We’ve been up and down with state support,” Creamer said. “It’s why we’ve been so dependent upon tuition.”

In another chart, Creamer showed that as tuition increased yearly, the university should have earned an estimated $379 million in tuition revenue. However, when accounting for students’ financial aid and scholarships, the total comes to around $216 million.

“Tuition is rising, but we’re not capturing any of that,” Creamer said.

He added that financial aid and scholarships are necessary to continue attracting students considering they get into their primary picks for universities more often.

The university is trying to diversify its funds but is struggling to change amid the declining tuition. Creamer estimated that $14 million would be taken from the reserves to help the university. Mullenix reassured the crowd.

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“We’re in a good position because we’ve planned for a rainy day,” she said.

Part of the reason Miami had a lower budget deficit for fiscal year 2024 was that vacant positions at the university lowered spending on salary and expenses. Creamer said this would not be a sustainable solution.

Part of the diversification of funds includes investing in new projects in hopes of seeing returns. In 2017-2018, income from investments only made up 1% of the budget, but they’re starting to pay off, making up 6% of the 2023-2024 budget. Creamer announced at the symposium that Miami had just committed to a new project, renovating Bachelor Hall, which would cost another $27 million.

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One symposium attendee questioned why the university was making high-risk investments if the university was trying to avoid using reserves.

“If you look at what historically plays out, with what we have accumulated already, it’s a far better strategy for the university,” Creamer said.

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As Miami saw its budget deficit at $36 million last year, Mullenix identified 18 majors as low-enrolled and required them to adjust. One faculty question at the symposium expressed concern about how these changes would impact the budget.

“The subtext here is that we are creating an experience to attract a certain type of student, or students and their parents, but I wonder what kind of faculty we’re going to be attracting with this model,” the professor said. “It seems to me that the university’s investing a lot in growing areas of the university for the faculty that are more expensive.”

“Where there is a higher salary, that’s what a business surcharge is for. So yes, faculty in business do have higher salaries typically, but we have a fee,” Mullenix responded. “So there is a front to help sort of offset the costs of those salaries.”

Creamer added that an increased number of students are coming to Miami with credit hours already completed. Most of those hours typically work toward fulfilling classes from some of those 18 low-enrolled programs.

macylj@miamioh.edu

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Mercedes’ Kimi Antonelli continues strong form with Miami Grand Prix Pole

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Mercedes’ Kimi Antonelli continues strong form with Miami Grand Prix Pole


Formula 1 is back after an unexpected one-month hiatus because of the war in the Middle East, and somehow the series has reconvened in Miami, right where we were and not where we were, if that makes sense.

It may not, but I’ll explain.

Through the first three races, there were two clear-cut top teams: Mercedes and Ferrari. Mercedes’ driver Kimi Antonelli had also won two straight Grand Prix coming into Miami, and is the current championship leader.

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Mercedes’ Kimi Antonelli comes into the Miami Grand Prix as the championship leader. (Sam Navarro-Imagn Images)

However, teams brought a considerable number of upgrades — plus the FIA and F1 have tuned the regulations a little after some team feedback — and suddenly, we’ve got more teams battling toward the front.

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This was noticeable in Saturday morning’s Sprint, which featured a McLaren 1-2, led by reigning world champion Lando Norris.

But the bigger shakeup came in qualifying.

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While the Silver Arrows’ 19-year-old superstar took pole by around a tenth and a half, what was surprising was that he was battling Red Bull’s Max Verstappen.

Red Bull had massive struggles through the first three rounds of the season and, even to Verstappen’s surprise during his post-session interview, was battling for pole.

Even wilder, there are four different teams represented on the first two rows of the grid: Mercedes with Antonelli on pole, Red Bull with Verstappen in P2, Ferrari with Charles Leclerc in P3 and McLaren with Norris in P4.

Mercedes’ Kimi Antonelli (centre) with Red Bull’s Max Verstappen (left) and Ferrari’s Charles Leclerc after Miami Grand Prix qualifying. (Sam Navarro-Imagn Images)

Now, all eyes are going to be on the start of what is expected to be a wet race.

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Starts have been the Achilles’ heel for Mercedes, and especially Antonelli this season, something that was seen on Saturday morning during the Sprint.

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Fortunately for him, Verstappen’s starts haven’t been much better, but unfortunately, starting right behind Antonelli is Charles Leclerc’s Ferrari, and the Scuderia’s cars have been absolute missiles off the line all season long (really since preseason testing).

So even with the short run into Turn 1 at the Miami International Autodrome, which is just under 200 meters, I think we’re going to see Leclerc jump at least one, maybe both, of the cars on the front row.

Mercedes driver Kimi Antonelli celebrates taking pole for the Formula 1 Miami Grand Prix. (Sam Navarro-Imagn Images)

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Maybe the wet weather can reduce that Ferrari advantage when the lights go out, but even if it does, Antonelli has Verstappen — a wet-weather fiend — alongside him.

Antonelli’s best chance of his third-straight Grand Prix will be best if he can get off the line cleanly and keep the lead out of Turn 1, but no matter what, this is shaping up to be the biggest challenge of his championship campaign so far.



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Adjusted 2026 F1 Miami Grand Prix Sprint starting grid after bizarre penalty

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Adjusted 2026 F1 Miami Grand Prix Sprint starting grid after bizarre penalty


Lando Norris will start the 2026 F1 Miami Grand Prix Sprint from pole position.

A dominant effort in SQ3 landed the reigning world champion his first pole of the season, beating Kimi Antonelli to P1, with the world championship leader starting on the front-row. 

Oscar Piastri and Charles Leclerc slot in behind, with the third row being Max Verstappen and George Russell, with Lewis Hamilton seventh. 

Elsewhere, Aston Martin was required to request permission to race in the Sprint after both cars failed to set a time in SQ1.

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Alex Albon ended the session in 14th, but was demoted five spots in strange circumstances after the session.

The FIA found he had breached track limits during SQ1 – but the infringement was missed in real time, meaning he advanced into SQ2. By the time the stewards were notified, he had already taken to the track for the second segment.

Check out the full grid for the 2026 F1 Miami Grand Prix Sprint below!

NOTE: Grid remains provisional until officially confirmed by the FIA. 



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Max Verstappen: Red Bull Miami updates have “almost halved” gap to F1 frontrunners

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Max Verstappen: Red Bull Miami updates have “almost halved” gap to F1 frontrunners


Max Verstappen believes that Red Bull’s wealth of upgrades for the Miami Grand Prix have so far “almost halved” the gap to the leaders, but still sees weaknesses in this year’s RB22 to work on.

Red Bull caught the eye with its own interpretation of the “Macarena” rear wing; when the active aero system is turned on for straight mode, the wing rotates around 180 degrees. Although Ferrari was first seen in testing with the device, Red Bull was adamant that it had its own version in development long before it was ever seen in the flesh. 

The team also has new sidepods, increasing their width from side-to-side to incorporate a waterslide-like ramp along the top surface to offer more direction to the airflow passing over the top. 

To satisfy the reprofiled sidepods, the engine cover and the floor have been reworked. Furthermore, the exhaust also appears to have a flap at the exit port to work in a similar way to Ferrari’s exhaust winglet seen earlier this season.

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Giving his first verdict of the updated RB22, Verstappen felt that the car was “more together”; he took it to fifth on the grid for the Miami sprint race, just under 0.6s off Lando Norris’ pole time. By comparison, Verstappen missed the Q3 cut-off in Suzuka, having been 1.2s slower than Kimi Antonelli in Q2.

“It feels more together. Of course, there are still things that we are working on. But it’s been a really positive step for us. Last few races we were over a second behind. I would say we have almost halved that gap now,” Verstappen said.

Max Verstappen, Red Bull Racing

Photo by: CHANDAN KHANNA / AFP via Getty Images

“So that’s positive. We’re still very weak in the first sector, which is mainly high speed. So we know that we need to work on that.

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“But, yeah, the rest seemed all a bit more together. So a bit happier with that. At least it seems like we have cleared a little bit the midfield.

“It feels a bit more normal. It’s still not where I want it to be, obviously. But it’s at least allowing me to trust it a bit more. And I can basically take a bit more lap time out of it.”

Red Bull team principal Laurent Mekies told Sky Germany that the car’s new fittings were “in the right direction”, and that both drivers had agreed that the RB22 was now more consistent.

Although many of the updates had been targeted at aero load, Red Bull’s notes in the usual FIA technical document circulated to media stated that increasing flow stability was also key to its developments.


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“It’s been a very intense five-week period. We know we had quite a lot of issues to get to the bottom of and I think that’s what the guys have done,” Mekies said.

“We knew coming here, especially after having run in Silverstone, [that] we had not solved everything. But pretty much we had the confirmation that we are going to the right direction. 

Max Verstappen, Red Bull Racing

Photo by: James Sutton / Formula 1 / Formula Motorsport Ltd via Getty Images

“It’s a closest gap to pole that we ever had this year. So, you know, don’t get me wrong. The competition is extremely strong. Everybody is progressing. 

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“But also from the drivers comments from Max, for me, that it’s it’s something a bit more consistent, so definitely the direction of travel is better.”

Although Hadjar was also pleased to have a more competitive car, he was nonetheless puzzled by his one-second gap to Verstappen after sprint qualifying and could offer no explanation to the deficit.

“I got through SQ3, which is a start. But then to be a second off, I don’t know why.
I’ve never been more than a tenth off so far this year when it mattered,” Hadjar said. “So, yeah, I don’t know what’s going on.”

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