Faculty Convocation

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Faculty Convocation February 11, 2013
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Financial Status 2012-2013
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2012-2013 Financial Status

Carry Forward Reserves Contingency Fund
3,300,000 Cash Carry Forward
2,500,000 Budget Reserve Enrollment Reserve
637,538
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2012-2013 Financial Status

Tuition Revenue Summer -6.43 (
260,605) Fall -7.08 (1,789,107) Total
To Date (2,049,712) Spring
(Estimate)-7.51 (1,791,159) Estimated
Annual Total (3,790,239)
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2012-2013 Financial Status

Other Revenue Sources 100,000 Other
Expenditure Budgets 1,200,000 Projected
Operating Variance (2,500,000)
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Tuition Budgets

2010-2011 Budget 51,179,218 Enrollment 2.4
Rate 5.0 (6.0 out of state) Actual
55,012,069 Tuition Variance
3,832,821 Operating Variance 6,216,689

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Tuition Budgets

2011-2012 Budget 53,741,052 Enrollment 0.0
Rate 2.0 Actual 53,198,387 Tuition
Variance ( 542,665) Operating Variance
1,774,439
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Tuition Budgets

2012-2013 Budget 55,149,688 Enrollment 0.0
Rate 2.5 Actual 51,308,811 Tuition
Variance ( 3,840,877) Operating
Variance(est) ( 2,500,000)
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Potential Budget 2013-2014
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Tuition Budgets

2013-2014 Budget (assumed) 52,447,729 Enrollm
ent -6.9 Rate 2.0 Actual ? Tuition
Variance ? Operating Variance ?
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2013-2014 Potential Budget

Revenues Tuition Revenue Summer/Fall
2012 Actual/ Spring Estimated (
3,800,000) 2013-2014 Enrollment
? Rate Increase 2? 900,000
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2013-2014 Potential Budget

State Appropriations ICHE Recommendation
998,422 Governors Recommendation
437,363 Legislative Approval ?
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2013-2014 Potential Budget

Revenues Other Income /- 100,000
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2013-2014 Potential Budget

Expenditures Unavoidables
1,100,000 Health Insurance Other Employee
Benefits PERF Retirement Utilities Other

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2013-2014 Potential Budget

Expenditures Salary Adjustments ? Facul
ty Promotions 98,000
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2013-2014 Potential Budget

Expenditures Strategic Initiatives
Intercollegiate Athletics Information
Technology EEOC Commercialization
Center Chancellors Scholarships
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2013-2014 Potential Budget

Estimated Budget Shortfall 4.4
million Assumes Governors recommendation 2
tuition rate increase Enrollment at 2012-2013
level No general salary adjustment
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2013-2014 Potential Budget

Budget Reductions Instructional
Budgets Related Employee Benefits Budgeted
Enrollment Reserves Academic Learning Center

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• Questions?