REMARKS TO THE SPRING FACULTY CONFERENCE 2012
Dr. Thayne McCulloh, PresidentSeptember 17, 2012
Faculty Salaries16%
Non-Faculty Salaries
18%
Benefits10%
Financial Aid28%
Operating14%
Utilities2% Capital
2%
Reserves & Con-tingencies
2%Debt Service
5%
ZagShop/ Dining4%
Expense CategoryFY'11/12 Budget
(000's)Faculty Salaries 37,210$ Non-Faculty Salaries 41,939 Benefits 23,250 Financial Aid 66,650 Operating 32,105 Utilities 4,112 Capital 4,581 Reserves & Contingencies 3,947 Debt Service 10,901 ZagShop/ Dining 10,162 Total 234,857$ Salaries & Benefits total 44%
Fiscal Year ‘11/12 Operating Budget Composition
Should the freshman entering class remain stable for the next 4 years, we face major budget challenges in FY’14 as the “bubble” class graduates.
FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 FY'16-$6,000
-$4,000
-$2,000
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
Pattern of Gross Tuition Revenue Increases (full time undergraduate on campus)
Tuition RateEnrollmentTotal Increase
Future Years EstimatedHistorical & Current Year Projected
NO change in number of entering freshman and 4.5% annual tuition increases
Scenario 1
With an additional 45 freshman next year and 15 the subsequent year, FY’14 headcount approximates our current headcount of 4,528 and FY’14 revenue improves $3.5M compared to Scenario 1.
FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 FY'16-$6,000
-$4,000
-$2,000
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
Pattern of Gross Tuition Revenue Increases (full time undergraduate on campus)
Tuition RateEnrollmentTotal Increase
Future Years EstimatedHistorical & Current Year Projected
Freshman changes noted below, 4.5% annual tu-ition increases
Scenario 2
Sample Illustration, Parking Structure(Hamilton & Boone)
FOUR REQUESTS FOR THE NEW YEAR
1. A COMMITMENT FIRST AND FOREMOST TO THE EDUCATION AND WELFARE OF OUR STUDENTS; EVALUATING WHAT WE DO THROUGH THE LENS OF WHAT OUR STUDENTS ARE LEARNING;
2. A COMMITMENT TO WORK HARD AT COMMUNICATION
3. A WILLINGNESS TO SUPPORT CREATIVE AND INNOVATIVE WAYS OF TEACHING AND LEARNING; AND
4. A RECOGNITION THAT OUR FUTURE INVOLVES ALL OF US: AND WILL REQUIRE ENERGY AND TIME FROM EACH OF US.
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