Campus Budget Update 2012-2013 October 12, 2012. Tuition Proposed Tuition Rates: + 2.5% Fall 2010...
43
Campus Budget Update Campus Budget Update 2012-2013 2012-2013 October 12, 2012 October 12, 2012
-
Upload
evelyn-trevor-kelly -
Category
Documents
-
view
216 -
download
1
Transcript of Campus Budget Update 2012-2013 October 12, 2012. Tuition Proposed Tuition Rates: + 2.5% Fall 2010...
Campus Budget UpdateCampus Budget Update
2012-2013 2012-2013
October 12, 2012October 12, 2012
Tuition
Proposed Tuition Rates: + 2.5%
Fall 2010 Fall 2011 Fall 2012
UndergraduateResident $ 220.75 $ 226.30 $ 231.95Non-Resident $ 498.70 $ 511.20 $ 524.00
GraduateResident $ 268.90 $ 275.65 $ 282.55
Non-Resident $ 572.65 $ 587.00 $ 601.70
Approved Budget
Unallocated Recurring
• Carry Forward 2011-2012 $ 175,673
• Carry Forward 2010-2011 764,266
• Carry Forward 2010 & Prior 64,498
• 7% Contingency Fund 1,872,327
Total$2,876,764
2012-2013 Approved Budget
Income State Appropriations
Operating $ 0Debt Service $( 286)
x
2012-2013 Approved Budget
Income Student Tuition & Fees
Enrollment Change $ 0Rate Change Resident 993,921 Non-Resident 294,525 Technology Fee 43,190 Repair Rehabilitation Fee 22,000
Total Student Tuition & Fees$1,353,636
x
2012-2013 Approved Budget
Income Other Income
Interest $( 300,000)CE Income 35,000Admission Fee 120,000International Fee 55,000
Total Other Income $( 90,000)
Total New Income $1,263,350
x
2012-2013 Approved Budget
Allocations 2% Salary Pool $ 922,000 Benefits 202,000 Academic Promotions 60,720 Benefits 21,280
Benefit Cost Increases 908,313
2012-2013 Approved Budget
Allocations Positions
Dean, EMS (Partial) $ 67,147 Dean, Management (Partial)
88,419 Department Head, Behavioral
Sciences (Partial) 29,555
2012-2013 Approved Budget
Allocations Positions
Asst. Coach Men’s Soccer 5,000Asst. Coach Women’s Soccer
5,000
2012-2013 Approved Budget
Allocations Positions
Asst. Director-ADA Compliance 50,000
Secretary, EEOC Office 29,453
2012-2013 Approved Budget
Allocations Positions
Benefits related to new positions$ 96,739
2012-2013 Approved Budget
Allocations Supplies and Expense
Athletic Expansion Men’s Soccer $ 12,750 Women’s Soccer 12,750 M&W Cross Country 9,000
2012-2013 Approved Budget
Allocations Supplies and Expense
EEOC Office $ 642
Commencement 40,000
2012-2013 Approved Budget
Allocations Supplies and Expense
Chancellor’s Scholarships $ 200,000Fee Remissions (119,550)Utilities and Insurance 247,655Schneider Ave. Lease 22,100Administrative Overhead 146,552Bank Service Charges 25,000Debt Service ( 286)
2012-2013 Approved Budget
Allocations Supplies and Expense
Admissions Support (Fee) $ 120,000International Program Office (Fee)
55,000Technology Reserve (Fee) 43,190R&R Reserve (Fee) 22,000
Remaining unallocated budget $ 141,002
Financial ResultsFinancial Results
2011-2012 2011-2012
October 12, 2012October 12, 2012
2011-2012 Financial Results
Revenues:State Appropriations $( 10,894)Tuition & Fees ( 542,665)F&A Recovery 249,671Interest Income ( 161,828)Academic Outreach 356,805Financial Aid Overhead 50,790Application and Other Fees 43,194Bookstore Commission ( 96,584)
Total $( 111,511)
2011-2012 Financial Results
ExpendituresEnrollment Reserve $ 637,578Other ( 251,725)Employee Benefits 400,000Utilities 862,949Debt Service (State) 10,894Bank Service Fees 95,376Fee Remissions 130,878
Total $1,885,950Net $1,774,439
2011-2012 Financial Results
Cash Carry ForwardsOperations $ 1,774,439Cash Contingency Reserve 3,300,000F&A Reserve 445,000 Unspent Recurring Budget
Reserve 1,120,731Unspent Prior Year Cash
Reserve 2,581,184Total Cash Carry Forward $ 9,221,354
2011-2012 Financial Results
Utilization of Cash Carry ForwardsCash Contingency Reserve $ 3,300,000F&A Cost Distribution 694,671On-Line Program Advance 655,812Yellow Ribbon/Veteran Dependent
Scholarships 75,000Commencement 17,625Faculty Office Relocation 149,505Accreditation Expenses 77,644Miscellaneous 15,200
2011-2012 Financial Results
Utilization of Cash Carry ForwardsCampus Development Reserve $ 200,000Chancellor’s Contingency Res 150,000Chancellor’s Scholars 1,000,000Academic Management 67,748ADA Support 138,712Governmental Relations 110,700Dowling Park Planning 42,700
Total Allocation $ 6,695,317 Remaining $ 2,526,037
2011-2012 Financial Results
Carry Forward Funds Central $ 9,221,354Chancellor 137,881
Academic Affairs 6,980,704Administrative Services 1,455,662Advancement 561,264
Information Services 2,437,432Student Affairs 435,483Special Projects 4,012,973
Total $25,242,753
Financial StatusFinancial Status
2012-2013 2012-2013
October 12, 2012October 12, 2012
2012-2013 Financial Status
Carry Forward ReservesContingency Fund $ 3,300,000Cash Carry Forward 2,500,000
Budget ReserveEnrollment Reserve $ 637,538
2012-2013 Financial Status
Tuition Revenue Summer -6.28% ($ 254,371) Fall -5.62% ($1,419,719)
Total To Date: ($1,674,090)
Spring (Estimate) ($1,300,000)
Estimated Annual Total ($2,974,090)
2012-2013 Financial Status
Other Revenue Sources ?
Other Expenditure Budgets ?
Nothing noted but too early to tell
Potential BudgetPotential Budget
2013-2014 2013-2014
October 12, 2012October 12, 2012
2013-2014 Potential Budget
Unknowns Going Forward Revenues Tuition Revenue
Summer/Fall 2012 Actual/ Spring Estimated ($ 2,974,000)Rate Increase ?
2013-2014 Potential Budget
Unknowns Going Forward Revenues
State AppropriationsIncentive Formulas ($ 21,000)Increased State Revenues ??
Other
Interest Income ($ 300,000)
2013-2014 Potential Budget
Unknowns Going Forward Expenditures
“Unavoidables” $ 1,100,000Health InsuranceOther Employee BenefitsPERF RetirementUtilities
Salary Adjustments ?
2013-2014 Potential Budget
Unknowns Going Forward Expenditures
Strategic Initiatives
2013-2015 State Budget Request
Operating Funds-ICHE RecommendationsIncentive Funding
Budget ReductionReallocation
General Increases Based on Increases in State Revenues ?
2013-2015 State Budget Request
Operating Funds-ICHE RecommendationsBudget Reduction 2013-2014 6%
2014-2015 7%
Both from the same base, not cumulative.
2013-2015 State Budget Request
Operating Funds Incentives (Indiana Students Only)
Overall Degree Completion 30%At-Risk Degree Completion 15%High Impact Degree Completion 10%Student Persistence 15%On-Time Graduation Rate 25%Institution Defined Metric 5%
2013-2015 State Budget Request
Operating Funds-ICHE Recommendations Incentives – Dropped From Prior Cycle
Successful Completion Credit Hour Dual Credit Successful CompletionResearch Incentive Funding
2013-2015 State Budget Request
Operating Funds-ICHE Recommendations Incentives (Indiana Students Only)
Overall Degree Completion2013-2014 Bachelor $ 7,795 x 66 Master $ 3,898 x 4 $ 527,4622014-2015 Bachelor $ 9,094 x 66 Master $ 4,547 x 4 $ 615,372
2013-2015 State Budget Request
Operating Funds-ICHE Recommendations Incentives (Indiana Students Only)
At-Risk Degree Completion (Pell Grant Recipient at Time of Graduation)
2013-2014 Bachelor $ 5,503 x 84 $ 462,2752014-2015 Bachelor $ 6,420 x 84 $ 539,320
2013-2015 State Budget Request
Operating Funds-ICHE Recommendations Incentives (Indiana Students Only)
Student Persistence2013-2014 30th Credit Hr $ 765 x 67 60th Credit Hr $ 1,530 x 84 $ 179,7552014-2015 30th Credit Hr $ 893 x 67 60th Credit Hr $ 1,785 x 84 $ 209,738
2013-2015 State Budget Request
Operating Funds-ICHE Recommendations Incentives (Indiana Students Only)
On-Time Graduation Rate (4 years)2013-2014 Bachelor $ 22,921 x 16 $ 359,0992014-2015 Bachelor $ 26,741 x 16 $ 418,949
2013-2015 State Budget Request
Operating Funds-ICHE Recommendations Incentives (Indiana Students Only)
Institution Defined Metric(Degree Attainment per
Undergraduate FTE) 2013-2014 $ 60,401 2014-2015 $ 70,468
2013-2015 State Budget Request
Operating Funds-ProcessICHE Recommendations
Legislative ConsiderationsRevenue Estimate(s)Budget Bill PassedGovernor’s SignatureRevenue Actual
2013-2015 State Budget Request
Capital Funds
-Emerging Technology Building $ 37.4 Million
-Student Wellness and Recreation Center $ 15.7 Million (student fees)
-Repair and Rehabilitation $ 1.3 Million (per year)
x
Questions?Questions?
