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Smart, who started working at the university in 2007, will retire on June 30.
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The budget also includes capital funds for projects at Missouri State University.
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Officials say constructing the Clifton M. Smart III Advancement Center will be funded in part by a big monetary gift from an anonymous donor. The center will serve as home base for the Missouri State University foundation, alumni association and university advancement offices.
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Athletics programs, Clif Smart said, can be the front porches to universities.
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New giving network at Missouri State University is designed to honor and heighten the power of womenThe BearsWIN (Women Impact Network) will launch on February 28.
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Smart visited five cities in nine days in October.
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MSU Homecoming continues with several public events planned on Saturday, October 21.
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Missouri State University's 11th president began serving in an interim role on June 27, 2011.