Katrina Causes $40 M in Damages to Ole Miss & MSU
From Daily Journal:
BY JENNIFER FARISH AND ROBBIE WARD
Hurricane Katrina's impact on Mississippi State University's buildings, financial aid and lost revenues totaled more than $28.7 million, while the storm damage at University of Mississippi campuses in Northeast Mississippi could be as much as $11.8 million.
The largest financial impact for MSU is student financial aid, estimated at more than $20 million for this year and next, for students to offset "direct losses and losses of family income resulting from the hurricane," said university spokesman Joe Farris.
About 1,100 MSU students live in the hardest-hit areas of Mississippi and about two-thirds of them are expected to encounter storm-related financial problems. But the total cost associated with financial aid is likely to peak during the 2006-07 academic year because students have likely paid their fees for this semester, Farris said.
Ole Miss estimated it will cost $10 million to provide financial aid and assistance for displaced students and students from the Coast, said Jeff Alford, assistant vice chancellor of University Relations.
"That is the number that the university is using, but that is a flexible number because we don't know how many students' family incomes were affected by the storm," Alford said.
Damage to campuses
A report from the state Institutions for Higher Learning estimated Katrina's damages to universities and colleges could hit at least $673.5 million. Repairing and rebuilding campus facilities will cost about $495 million, with $440.8 million of the damages at public universities, $47.2 million at community colleges, and almost $7 million at private institutions, the agency said.
Actual property damage and labor costs at Ole Miss are estimated at $1.24 million, according to Larry Sparks, assistant vice chancellor of finance, but that number could move higher as contractors make some permanent repairs.
"I would not categorize any of our damages as major, just numerous," Sparks said.
The figure includes the cost of repairing damage from water leaks, roof damage and downed trees Aug. 29, as well as the cost of paying those who responded to the calls.
Damage to MSU, meanwhile, occurred mostly at facilities in the southern part of the state, including the Mississippi Agricultural and Forestry Experiment Station, the MSU Extension Service, the Forest and Wildlife Research Center and the College of Veterinary Medicine. Damage to those areas totaled about $5.5 million.
| Damage at Ole Miss, MSU could total $40 |
Hurricane Katrina's impact on Mississippi State University's buildings, financial aid and lost revenues totaled more than $28.7 million, while the storm damage at University of Mississippi campuses in Northeast Mississippi could be as much as $11.8 million.
The largest financial impact for MSU is student financial aid, estimated at more than $20 million for this year and next, for students to offset "direct losses and losses of family income resulting from the hurricane," said university spokesman Joe Farris.
About 1,100 MSU students live in the hardest-hit areas of Mississippi and about two-thirds of them are expected to encounter storm-related financial problems. But the total cost associated with financial aid is likely to peak during the 2006-07 academic year because students have likely paid their fees for this semester, Farris said.
Ole Miss estimated it will cost $10 million to provide financial aid and assistance for displaced students and students from the Coast, said Jeff Alford, assistant vice chancellor of University Relations.
"That is the number that the university is using, but that is a flexible number because we don't know how many students' family incomes were affected by the storm," Alford said.
Damage to campuses
A report from the state Institutions for Higher Learning estimated Katrina's damages to universities and colleges could hit at least $673.5 million. Repairing and rebuilding campus facilities will cost about $495 million, with $440.8 million of the damages at public universities, $47.2 million at community colleges, and almost $7 million at private institutions, the agency said.
Actual property damage and labor costs at Ole Miss are estimated at $1.24 million, according to Larry Sparks, assistant vice chancellor of finance, but that number could move higher as contractors make some permanent repairs.
"I would not categorize any of our damages as major, just numerous," Sparks said.
The figure includes the cost of repairing damage from water leaks, roof damage and downed trees Aug. 29, as well as the cost of paying those who responded to the calls.
Damage to MSU, meanwhile, occurred mostly at facilities in the southern part of the state, including the Mississippi Agricultural and Forestry Experiment Station, the MSU Extension Service, the Forest and Wildlife Research Center and the College of Veterinary Medicine. Damage to those areas totaled about $5.5 million.
posted by Brad at 8:44 AM
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