2011 Board of Governor’s RetreatMarch 19, 2011

Financial UpdateRob Yust

Impact of Board approved rate and fee increases (as of 02/28/11): Textbook rental fee increase from $7.00 to $10.00 $ 205K Distance Education fee increase from $35.00 to $50.00 $ 281K Out-of-state tuition rate increase from $286.00 to $297.20 Distance tuition rate charged based on student’s residency $1.22M

Impact of 5.2% reduction in State Appropriations: As of 02/28/11 ($ 862K) Projected to 06/30/11 ($1.29M)

Revenue Activity FY2011

Institution In-State Rate Total @ 15 hr Required Fee Per Semester Per Year O/S Rate

U of M System 245.60 3,684.00 Varies Varies 8,567.86 Varies

Truman 253.00 3,795.00 309.00 3,346.00 6,692.00 478.00

Central 200.55 3,008.25 371.25 3,379.50 6,759.00 401.10

Missouri State 191.00 2,865.00 348.00 3,213.00 6,426.00 372.00

Lincoln 189.50 2,842.50 245.00 3,087.50 6,175.00 363.83

Southeast 184.89 2,772.00 355.50 3,127.50 6,257.70 349.48

Western 171.93 2,578.95 284.20 2,863.15 5,726.30 320.15

Harris-Stowe 164.00 2,460.00 200.00 2,660.00 5,320.00 323.08

Northwest 163.42 2,451.30 1,162.50 3,613.80 7,227.60 335.78

MSSU 148.53 2,227.95 263.00 2,490.95 4,981.90 297.20

Tuition comparison as reported to MDHE (FY2011)

Institution FY2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011

U of M System $194.80 $209.20 $216.50 $227.30 $235.90 $245.60 $245.60 $245.60

Truman State $191.50 $180.33 $191.33 $248.50 $258.75 $253.00 $253.00 $253.00

Central $149.00 $166.00 $171.00 $180.50 $187.35 $195.30 $195.30 $195.30

Missouri State $138.00 $154.00 $164.00 $173.00 $179.00 $186.00 $186.00 $186.00

Lincoln $129.80 $129.80 $147.08 $154.43 $183.50 $189.50 $189.50 $189.50

Southeast $141.80 $151.80 $158.80 $167.80 $176.80 $184.89 $184.80 $184.80

Western $146.00 $146.00 $146.00 $155.00 $160.00 $166.40 $166.40 $166.40

Harris-Stowe $130.00 $136.50 $136.50 $152.00 $158.00 $164.00 $164.00 $164.00

Northwest $150.50 $165.50 $172.50 $194.50 $148.60 $157.39 $157.39 $157.39

MSSU $127.00 $127.00 $125.00 $130.00 $135.00 $143.00 $143.00 $143.00

History of Per Credit Hour In-State Tuition Rates Charged to Students

Tuition Increase Appropriation Cash FY2012 FY2013 FY2014 FY2015 FY2016

6.05% / $8.65 7% Beginning Cash 11,000,000 8,680,769 7,224,420 5,516,273 3,553,495

1,110,581 (1,647,585) Net Cash I / (D) (2,319,231) (1,456,349) (1,708,147) (1,962,778) (2,220,302)

Ending Cash 8,680,769 7,224,420 5,516,273 3,553,495 1,333,193

9.79% / $14.00 7% Beginning Cash 11,000,000 9,343,227 8,568,953 7,563,085 6,323,396

1,773,039 (1,647,585) Net Cash I / (D) (1,656,773) (774,274) (1,005,868) (1,239,689) (1,475,778)

Ending Cash 9,343,227 8,568,953 7,563,085 6,323,396 4,847,618

11.89% / $17.00 7% Beginning Cash 11,000,000 9,715,134 9,323,779 8,712,172 7,878,428

2,144,946 (1,647,585) Net Cash I / (D) (1,284,866) (391,355) (611,607) (833,744) (1,057,800)

Ending Cash 9,715,134 9,323,779 8,712,172 7,878,428 6,820,628

13.99% / $20.00 7% Beginning Cash 11,000,000 10,087,041 10,078,605 9,861,260 9,433,460

2,516,853 (1,647,585) Net Cash I / (D) (912,959) (8,436) (217,345) (427,800) (639,822)

Ending Cash 10,087,041 10,078,605 9,861,260 9,433,460 8,793,638

14.69% / $27.00 7% Beginning Cash 11,000,000 10,210,861 10,329,911 10,243,828 9,951,181

2,640,673 (1,647,585) Net Cash I / (D) (789,139) 119,050 (86,083) (292,647) (500,664)

Ending Cash 10,210,861 10,329,911 10,243,828 9,951,181 9,450,517

19.58% / $28.00 7% Beginning Cash 11,000,000 11,077,153 12,088,146 12,920,428 13,573,358

3,506,965 (1,647,585) Net Cash I / (D) 77,153 1,010,993 832,282 652,930 472,944

Ending Cash 11,077,153 12,088,146 12,920,428 13,573,358 14,046,302

Financial Projections

A slight increase (3%) in tuition revenue annually from FY2013 – FY2016 due to a combination of increase in enrollment and/or increase in tuition rate.

A small increase in utility cost in FY2014 – FY2016. Actual has been less than budget and we do not anticipate a budgetary increase until those years.

The projection includes funding for deferred maintenance. Cash balances exclude the $5 million short-term investment. Current FY2011 Appropriations – Gross $24,264,876

Less Governor 3% Reserve ($727,946) = Net $23,536,930 Current tuition charged to student I/S $143.00 O/S $297.20

6.05% Increase = $ 8.65 I/S $151.65 O/S $303.30 9.79% Increase = $14.00 I/S $157.00 O/S $314.0011.89% Increase = $17.00 I/S $160.00 O/S $320.0013.99% Increase = $20.00 I/S $163.00 O/S $326.0014.69% Increase = $27.00 I/S $164.00 O/S $328.0019.58% Increase = $28.00 I/S $171.00 O/S $342.00 (Calculations based on the above rates.)

Financial Projection Assumptions