Budget Update & Spring Semester Outlook...Budget Outlook Current year’s budget Process and level...
Transcript of Budget Update & Spring Semester Outlook...Budget Outlook Current year’s budget Process and level...
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Budget Update & Spring Semester Outlook
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Budget Outlook Current year’s budget
Process and level of reductions
Continued actions needed
Year-end spending & CARES Act Impact
Next year’s budget
Revenue outlook: tuition and appropriations
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Current Year’sBudget
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FY21 OverallOperating Budget
$111,324,444
8% reduction from prior year
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Jul-19 Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun-20
Other
State Budget
Tuition
Formula
Planning for Impact |
Formula Reduction
from FY2019
Enrollment
Fall Enrollment
Decline
Spring Enrollment
Decline
14% Cut Plan Final
Actual Reduction
COVIDUncertainty
$1.4 M$2.1 M
$2.9 M
$9.3 M
$8.1 M
This Year’s BudgetReduction Development
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What happened to furloughs? May: CSU’s budget reduction plan included a decrease of over
$1.5 million from planned systemwide furloughs
June: the Georgia Legislature determined that furloughs would not be used
As a result: the original $1.5 million had to be identified through other budget measures
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FY21 Actual Budget Reductions Appropriations, tuition, and enrollment formula reductions
applied
Eliminated e-tuition differential; reduced fee budgets for enrollment declines
$8.1 million total budget reductions from FY20
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Reductions Taken
$1.0M reduction inoperating expenses
$205,000 reduction intravel expenses
$4.5M reduction invacant positions
From our original14% reduction plans:
$604,000 5% across-the-board cut in operating expenses
$335,000 in expenses moved to other fund sources
$573,000 additional reductions in vacant positions
From sources outside theoriginal plan:
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Vacant Positions Reduced
15 faculty positions
62 staff positions
$5.03M total reduction
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More Details?
The complete FY21 budgetand all the budget reduction details
are available online at:
https://vpbusiness.columbusstate.edu
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Budget Work Remains Almost $1 million in “Tuition Carry Forward” contingency funds
were required to finally balance the current budget.
“Tuition Carry Forward” funds are our hedge against enrollment declines.
We must identify expense reductions or revenue increases to offset this amount in next year’s budget.
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The Budget is the Beginning Approved budget gives authorization to spend up to a particular
amount, for a specific purpose.
Unspent funds become “Year-end Funds”: Capital projects
Technology upgrades
Special-purpose initiatives
Lapsed funds are returned to the State treasury
Actual spending is usually less than the amount budgeted: Typically lapsed wages
Change in plans
“Budget dust”
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Significant “Year-end” ProjectsMarketing Services $622,500
Corn Center Piping Project $399,833
Phone System Replacement $385,451
Campus Master Plan Services $300,000
Robotics Lab Renovations & Equipment $276,914
COVID-19-related Expenses $258,972
Imaging System Replacement $248,444
Classroom AV & Laptop Upgrades $219,192
Legal Project $70,000
Library Subscriptions $63,970
Returned to State Treasury $1,006,576
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CARES Act FundsCSU distributed the nearly $3.5 million in CARES Act funds
it received as follows:
Reimbursement for Student Fee refunds for Spring Semester $2,395,946
Partial Reimbursement for Summer Fee revenue loss $310,335
Campus WIFI upgrades to support online learning $780,143
Total Used: $3,486,424
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Next Year’s Budget
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Tuition and Institutional
Fees$42,558,233
State Appropriations$39,763,294
All Other Sources$29,002,917
Where the Money Comes From
Tuition forecast based on last year’s enrollment.
Appropriations based on credit hour production from 2 years ago.
“Other” sources are mostly fees, housing, dining — and are
largely enrollment driven.
FY22 Budget:$111,324,444
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Fund Trends
$ 20,000,000
$ 25,000,000
$ 30,000,000
$ 35,000,000
$ 40,000,000
$ 45,000,000
$ 50,000,000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Appropriations Tuition/SIF/Course Fees
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$16,505,206 $17,200,612
$695,406
$0
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
$16,000,000
$18,000,000
$20,000,000
Budgeted Actual (based on Fall) Revenue Overage
Tuition revenue is up for fall!
Budget was flat from last fall.
Realized overage helps offset this year’s deficit.
Sustained growth will let us increase next year’s revenue forecast.
Tuition
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The change in credit hour production recorded last academic year (FY20) will influence state appropriations for our next budget year (FY22).
USG has instructed CSU to anticipate budget reductions of $1.94 million for FY22.
State AppropriationsCredit Hour Production FY19 FY20 Change % ChangeLower Level Credit Hours 106,041 99,994 -6,047 -5.70%
Upper Level Credit Hours 67,333 66,738 -595 -0.88%
Graduate / Professional 25,468 23,888 -1,580 -6.00%
Total 198,842 190,620 -8,222 -4.13%
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Fiscal Years – following the money
FY2019Enrollment Declines
• Revenue
• Tuition FY20
• State FY21
2018
Jul Oct Jan Apr
2019
Jul Oct Jan Apr
2020
Jul Oct Jan Apr
2021
Jul Oct Jan Apr
FY2020Enrollment Declines
• Revenue
• Tuition FY21
• State FY22
FY2021Enrollment INCREASES (so far)
• Revenue
• Tuition FY22
• State FY23
FY2022Enrollment ???
• Revenue
• Tuition FY23
• State FY24
THIS YEAR
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Fiscal Years – following the money
FY2019Enrollment Declines
• Revenue
• Tuition FY20
• State FY21
2018
Jul Oct Jan Apr
2019
Jul Oct Jan Apr
2020
Jul Oct Jan Apr
2021
Jul Oct Jan Apr
FY2020Enrollment Declines
• Revenue
• Tuition FY21
• State FY22
FY2021Enrollment INCREASES (so far)
• Revenue
• Tuition FY22
• State FY23
FY2022Enrollment ???
• Revenue
• Tuition FY23
• State FY24
THIS YEAR
Tuition was forecast “FLAT” with 2019/20 – which was a reduction of $1.5 Million
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Fiscal Years – following the money
FY2019Enrollment Declines
• Revenue
• Tuition FY20
• State FY21
2018
Jul Oct Jan Apr
2019
Jul Oct Jan Apr
2020
Jul Oct Jan Apr
2021
Jul Oct Jan Apr
FY2020Enrollment Declines
• Revenue
• Tuition FY21
• State FY22
FY2021Enrollment INCREASES (so far)
• Revenue
• Tuition FY22
• State FY23
FY2022Enrollment ???
• Revenue
• Tuition FY23
• State FY24
THIS YEAR
Tuition was forecast “FLAT” with 2019/20 – which was a reduction of $1.5 Million
Tuition for Fall, 2020 is UP (so far) by $700K. This surplus is available to use this year (by June 2021)
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Fiscal Years – following the money
FY2019Enrollment Declines
• Revenue
• Tuition FY20
• State FY21
2018
Jul Oct Jan Apr
2019
Jul Oct Jan Apr
2020
Jul Oct Jan Apr
2021
Jul Oct Jan Apr
FY2020Enrollment Declines
• Revenue
• Tuition FY21
• State FY22
FY2021Enrollment INCREASES (so far)
• Revenue
• Tuition FY22
• State FY23
FY2022Enrollment ???
• Revenue
• Tuition FY23
• State FY24
THIS YEAR
Tuition was forecast “FLAT” with 2019/20 – which was a reduction of $1.5 Million
Tuition for Fall, 2020 is UP (so far) by $700K. This surplus is available to use this year (by June 2021)
Enrollment in 2018/19 reduced Appropriations by $1.05 Million
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Fiscal Years – following the money
FY2019Enrollment Declines
• Revenue
• Tuition FY20
• State FY21
2018
Jul Oct Jan Apr
2019
Jul Oct Jan Apr
2020
Jul Oct Jan Apr
2021
Jul Oct Jan Apr
FY2020Enrollment Declines
• Revenue
• Tuition FY21
• State FY22
FY2021Enrollment INCREASES (so far)
• Revenue
• Tuition FY22
• State FY23
FY2022Enrollment ???
• Revenue
• Tuition FY23
• State FY24
THIS YEAR
Tuition was forecast “FLAT” with 2019/20 – which was a reduction of $1.5 Million
Tuition for Fall, 2020 is UP (so far) by $700K. This surplus is available to use this year (by June 2021)
Enrollment in 2018/19 reduced Appropriations by $1.05 Million
Tuition from 2020/21 – will determine the forecast for FY2022. So far, $700K increase has been realized.
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Fiscal Years – following the money
FY2019Enrollment Declines
• Revenue
• Tuition FY20
• State FY21
2018
Jul Oct Jan Apr
2019
Jul Oct Jan Apr
2020
Jul Oct Jan Apr
2021
Jul Oct Jan Apr
FY2020Enrollment Declines
• Revenue
• Tuition FY21
• State FY22
FY2021Enrollment INCREASES (so far)
• Revenue
• Tuition FY22
• State FY23
FY2022Enrollment ???
• Revenue
• Tuition FY23
• State FY24
THIS YEAR
Tuition was forecast “FLAT” with 2019/20 – which was a reduction of $1.5 Million
Tuition for Fall, 2020 is UP (so far) by $700K. This surplus is available to use this year (by June 2021)
Enrollment in 2018/19 reduced Appropriations by $1.05 Million
Tuition from 2020/21 – will determine the forecast for FY2022. So far, $700K increase has been realized.
Enrollment in 2019/20 will reduce Appropriations by $1.94 Million in FY22
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Budget Reduction Required Current year gap is not closed.
Spring enrollment growth is critical.
With continued enrollment gains, we can avoid making cuts to offset the use of funds from the tuition carry forward reserve.
Next year’s appropriations cut must be anticipated. We have to develop a spending reduction plan of $1.94 million.
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Budget Reduction Required Opportunities for reductions are being explored, including:
Early Retirement program: 14 participants
Restructuring Operations
Shared Services: Advancement; Communication and Marketing; Advising
Mail Services
Critical Hire Process
New Efficiencies
Open to ideas . . .
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Enrollment and Retention are KEY An average, full-time, in-state student pays $5,730 per year in
tuition and institutional fees:
1 student $5,730
10 students $57,300
25 students $143,250
50 students $286,500
100 students $573,000
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The impact DOUBLES
if you consider the impact on state
appropriations in future years!
Enrollment and Retention are KEY An average, full-time, in-state student pays $5,730 per year in
tuition and institutional fees:
1 student $5,730
10 students $57,300
25 students $143,250
50 students $286,500
100 students $573,000
$11,460
$114,600
$286,500
$573,000
$1,146,000
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Every Interaction…
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Spring Semester Academic Forecasting Fall Semester Reflections
Successes and Challenges
December graduation
Spring Semester Planning
Academic calendar revisions
USG Expectations for in-person instruction
Jan term
Student Support Services: advising, tutoring, counseling continuity
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The Role of Academic Planning Engage in Strategic Academic Planning efforts
College 2025: Partnerships, Internships, Integrate Essential Skills with Content
Which programs have capacity to grow? have student interest? have job market needs?
Continue to strengthen retention efforts
Develop pipelines from undergraduate to graduate programs