FY13 Budget Status

Budget & Financial Planning

F&A Advisory GroupJan 23, 2013

FY13 budget: new revenue & expense

Revenue, expense avoidance, reallocations

Expense Increases

Internal financial indicators

• enrollment

• revenue– instate, out-of-state– waivers– grants & contracts

• rollover expenditures

• Hybrid costs

• position mgmt (vacancies)

• unplanned events– State– local

• spending trends– utilities

• construction schedule

Position Mgmt

Yr-to-Date Savings

Potential Savings Total Savings

State funds 4,235,072 3,218,527 7,453,599 Local funds 2,710,052 2,218,987 4,929,038 Total Salaries 6,945,124 5,437,514 12,382,638

Fringe (local funds) 681,579 387,422 1,069,001 TFA (local funds) 208,725 133,491 342,216 Total All 890,304 520,912 1,411,217

Total All 7,835,428 5,958,426 13,793,854

Area Vacancies

Vacant FY13 Strategic Initiatives

Total Positions % Vacant

University Total 182 30 1,706 12%

Monthly revenue report (Dec)FY12

Budget YTD Actual YTD Actual YTD BudgetInstate/Out of State Tuition 16,880,226 21,362,070 20,850,204 7,033,428

remitted to Commonwealth (10,380,226) (11,087,208) (11,840,274) (4,325,094) Retained Tuition 6,500,000 10,274,862 158% 9,009,930 14% 2,708,333

Mandatory Fees - Resident undergraduate 78,153,705 79,689,101 74,580,899 32,564,044 - Resident graduate 10,392,414 9,390,193 9,081,071 4,330,173 - Non-resident undergraduate 16,703,717 9,314,174 7,143,568 6,959,882 - Non-resident graduate 5,513,349 4,834,524 4,336,198 2,297,229

College of Advancing and Professional Studies 35,061,025 15,551,039 44% 16,725,409 -7% 14,608,760 Hybrid 10,166,953 6,121,121 60% 4,913,069 25% 4,236,230 Sub-total Mandatory Fees 155,991,163 124,900,153 80% 116,780,213 7% 64,996,318 Non-Mandatory FeesCombined one-time fee 3,121,731 2,751,901 88% 2,560,965 7% 1,300,721 Lab fees 1,270,240 1,082,211 85% 942,981 15% 529,267 Admissions processing 1,183,571 388,516 33% 455,516 -15% 493,155 Late pay/registration fee 1,148,671 910,480 79% 778,071 17% 478,613 CM, CNHS, EH&S differential 2,511,000 2,173,650 87% 1,281,850 70% 1,046,250 All other 2,519,442 1,545,735 61% 1,310,706 18% 1,049,768 Non-Mandatory Fees 11,754,655 8,852,493 75% 7,330,089 21% 4,897,773

Total student tuition & fees 174,245,818 144,027,508 83% 133,120,232 8% 72,602,424

State appropriation 76,623,000 33,049,475 43% 41,275,904 -20% 31,926,250 F&A indirect 8,846,000 2,812,743 32% 3,350,383 -16% 3,685,833 Auxiliary services 10,456,393 5,755,941 55% 5,678,640 1% 4,356,830 Sales & services 2,634,221 3,106,623 118% 1,207,668 157% 1,097,592 Other RevenueTFI/OSF 1,900,000 1,910,970 101% 1,270,682 0% 791,667 Other operating revenue 199,000 703,917 354% 1,068,901 -34% 82,917 Other non-operating 11,483 4,786 42% 5,078 -6% 4,784 Gifts 437,088 212,903 49% 176,184 21% 182,120 Other Revenue 2,547,570 2,832,576 111% 2,520,846 12% 1,061,488

Total all 275,353,002 191,584,866 70% 187,153,673 2% 114,730,418

FY13 Actual % of Budget

% Change

Monthly expenditure report (Dec)

YTD EncumbrancesTotal

(Act+Enc) YTDTotal FY12

ExpAA Regular employee 61,027,568 61,763,224 122,790,792 56,260,371 120,901,276 CC Contract employee 9,201,287 6,282,668 15,483,954 8,240,335 18,596,377 DD Fringe benefits 6,777,797 5,979,718 12,757,515 5,329,135 16,458,168

Sub-total 77,006,653 74,025,609 151,032,262 69,829,841 155,955,821

BB Employee-related (travel, conferences) 964,420 19,848 984,269 908,274 1,895,151 EE Supplies, administrative 4,932,418 1,898,447 6,830,864 4,735,218 9,433,995 FF Library, safety & facility supplies 1,828,091 704,187 2,532,278 2,044,997 3,415,754 GG Energy, utilities & space rental 3,333,555 2,615,891 5,949,446 3,551,035 7,449,355 HH Consultant services (non-routine) 1,056,625 1,128,737 2,185,361 977,072 2,316,602 JJ Operational services 682,186 759,643 1,441,829 695,097 1,354,736 KK Equipment purchases 285,081 287,931 573,012 519,638 1,437,508 LL Equipment lease & maintenance 419,275 714,530 1,133,804 485,546 1,284,527 MM Purchased client services 238,810 107,211 346,021 185,334 432,322 NN Infrastructure & land 3,581,145 4,196,108 7,777,253 4,749,749 RR Entitlement programs (fin aid) 23,442,359 - 23,442,359 21,452,329 35,211,934 UU Information technology 1,800,850 1,532,459 3,333,309 1,490,576 3,539,213

Sub-total 42,564,814 13,964,991 56,529,805 41,794,863 67,771,097 Indirect & overhead 1,216 - 1,216 16,557 105,681 Transfers to debt service 22,483,802 - 22,483,802 - 22,627,809 System Office support 2,790,675 - 2,790,675 3,278,271 7,981,925

Total all 144,847,160 87,990,600 232,837,759 114,919,532 254,442,332

FY13 FY12

Carry forward released (Sept) – prior yr revenue

F&A (indirect) 7,100

F&A (indirect ICI) 2,559

ESS 4,388

Gifts 701

Development 2,288

Sub-total 17,036

Carry forward released (Nov) – FY12 rollover

ORSP 711

IT 496

Controller’s Office 280

Campus Services 250

Student Affairs 154

Colleges 113

Enrollment Mgmt36

Sub-total 2,040

Carry forward (Sept, Nov) – all other

Faculty start-ups 1,826

IT 404

Enrollment Mgmt 431

Colleges 258

PMYR231

Student Affairs 142

VPASS 24

All others 143

Sub-total 3,459

Unexpected budget expenditures

ESS (est) 1,740

ORSP (est) 1 – 2,600

Enrollment Mgmt 820

Student Affairs (est) 763

Hybrid406

Colleges 269

IT 171

Athletics 88

ANF 70

Sub-total 5,327-6,927

Budget adjustments & carry forward

Prior yr revenue 17,036

Budget adj 5,327

Rollover 2,040

Other carry forward3,459

Sub-total 27,862

Carry forward – requests outstanding

ORSP 5,400

Colleges 1,645

IT 1,131

Provost’s Office 964

Other Academic Affairs 174

Enrollment Mgmt 238

GRPA 111

All other 780

Sub-total 9,901

Budget status

Likely to be positive operating margin, but below System Office expectation

Continue monitoring revenue or any other potential good news

Encourage discussion on new carry forward policy that better serves us