FY 2010 Interim Plan

WVU Board of GovernorsJune 5, 2009

FY2010 Interim Plan Timeline

June 5, 2009 – Adoption of an FY 2010 Interim Forecast

November 6, 2009 – Adoption of the FY 2010 Forecast

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Budget Uncertainty

State Appropriations Revenues• Budget Reduction – One-time reduction $6 million• Use of Federal Stimulus Funding – pending

Tuition and Fees Revenues – should be known by September• Impact of Current Economic Conditions on Enrollment

• First –Time Freshman• Transfer Students• Returning Students • Total Students – 28,500

Endowment Spend Revenues - evaluation of impact on colleges should be known by July

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Anticipated Changes in State Appropriations

First-Time Freshman Enrollment Projections Based on Admits

2,175

2,611

4,786

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Freshman Enrollment Projections Based on Confirmations1

4,557

2,431

2,125

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1Confirmations include academic deposits, housing deposits and or registration for orientation. If a prospective studentHas taken any of these actions they are reflected a confirmed for purposes of this analysis.

Total

Non-Resident

Resident

Freshman Enrollment Projections Based on Applications and Confirmations1

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4,557

4,785

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2010 Interim Plan - Planning Framework

• Maintain a balanced budget excluding unrealized investment losses and GASB 45 Liabilities.

• Encourage normal mission-driven operations to maintain academic quality and limit burdensome spending restrictions, e.g. hiring and travel freezes, additional approvals on capital items.

• Define strategic priorities and invest in those priorities during this uncertain financial environment; e.g. research enterprise, salary increases, new faculty and staff positions, and new programs.

• Focus on identifying new sources of revenue and operating efficiencies.

• Recognize that tuition revenue is paramount to the University’s long-term success. Therefore, we must be sensitive to changing market conditions.

• Limit the impact of permanent budget cuts until there is greater certainty about the level of state support and other revenue sources.

• Effectively manage cash and other resources needed to maintain financial stability and to deal with unforeseen events.

WVU Financial Plan

FY2006 – FY2010

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WVU Financial Plan

Operating Revenues

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WVU Financial Plan

Operating Revenue Highlights

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State

Nongovernmental

Federal State

Nongovernmental

WVU Financial Plan

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WVU Financial Plan

Tuition Increase History

WVU Financial Plan

Operating Expenses

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WVU Financial Plan

Operating Expenses Highlights

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GASB 45

WVU Financial Plan

Salary Increase History

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WVU Financial Plan

Non-Operating Revenues (Expenses)

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WVU Financial Plan

Non-Operating Revenues (Expenses) Highlights

State Appropriations

All Other Non-Operating Revenues (Expenses)

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WVU Financial Plan

FY2010 Interim Forecast

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Income Before Other Activity

WVU Financial Plan

Increase (Decrease) in Net Assets

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WVU Financial Plan

Increase (Decrease) in Net Assets

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