Budget Educatio n
14
1 March 5, 2014 Budget Education
description
Budget Educatio n. March 5, 2014. Agenda. External Environment Financial Structure General Fund Budget Overview Budget Development Budget Committee Budget Approval. External Environment. Legislative Issues Capital Construction Update Native American Tuition Waiver - PowerPoint PPT Presentation
Transcript of Budget Educatio n
1
March 5, 2014Budget Education
2
Agenda
External Environment Financial Structure General Fund Budget Overview Budget Development Budget Committee Budget Approval
3
External EnvironmentLegislative IssuesCapital Construction UpdateNative American Tuition WaiverScrutiny in Higher EducationFY 2014-15 Higher Education Funding
4
External EnvironmentColorado Futures Center Study
Funding for Higher Education in Colorado
Long Term ModelingReduce reliance on state supportQuasi-privatization
5
Financial StructureTotal Campus Funding
General FundAuxiliary FundsConstructionGrants / Gifts
6
Financial StructurePrimary Funds
General Fund Auxiliary
PledgedHousing /Dining/Bookstore/Student Life Center / Health & Counseling Center
Non PledgedStudent Activities, Continuing Education, Athletics, Special Projects
7
General Fund BudgetRevenue
Tuition - 76%Resident Students 23%Non Resident Students 24%Native American Students 29% (Reimbursed by the State the year after waived)
State Support - 19%College Opportunity FundFee for Service Contract
Other Income - 5%Interest income, charges for service (application fee,
matriculation fee), Technology Fee, Career Services Fee, Arts Fee, Course specific fees
8
General Fund BudgetExpenditures
Salaries/Benefits 66%ClassifiedFaculty/Exempt
Institutional Items 27%Scholarships, utilities, contracts, audit
Other Current Expenditures 7% (OCE) Departmental Operating
9
Budget DevelopmentApproach
IncrementalOnly considered the differences
Base budgets Assume all items start where they ended in the previous year
budget process
Reallocation occurs at the Vice President levelPermanent vs One time funding
10
Budget DevelopmentBudget Compilation Steps• Determine the change in revenue• Identify increases/decreases in
Institutional/Non-Discretionary categories – includes Classified staff salary increases
• Faculty/Exempt staff salary increases• Funding Requests
11
Budget Committee• First discusses salary increases and
equity adjustments• Prioritizes budget requests based
upon effectiveness of proposal to accomplishing the Strategic Plan
• Makes recommendations to the President
12
Budget CommitteeFive Year planning model
Allows the committee to evaluate the impact of current year funding decisions on future budget years
13
Budget Approval
Total budget submitted by the President to the Board of Trustees for approval
14
Questions / Discussion
