FY2015 Supplemental Operating Budget. FY2015 Operating Budget Board of Trustees Meeting May 15, 2014

Transcription

1 Supplemental Operating Budget Operating Budget Board of Trustees Meeting May 15,

2 Supplemental Budget Impacts State 2014 supplemental legislative session EWU supplemental budget changes for Resident Undergraduate Tuition Changes from original budget 2

3 Supplemental Legislative Session State Funding Support for STEM programs $1,000,000 The legislature did not pass a supplemental capital budget. The original capital budget remains unchanged for 3

4 $3,926 $3,455 $3,870 $3,319 $6,447 $6,359 $6,119 $6,048 $5,693 $5,079 $4,937 $4,468 $4,485 $3,824 $4,461 $3,801 GF-State Funding per FTE Student $6,500 $6,000 $5,500 $5,000 Funding per Budgeted FTE Funding per Actual FTE $4,500 $4,000 $3,500 $3, Source: Data based on GFS allocations and OFM budgeted state enrollments projections based on original budget. Actual FTE funding based on GFS allocations and Annual Average state enrollments projections based on original budget FTE at 10,250.

5 Key Funding Sources State Funds and Student Tuition Millions Over last 5 years, the state funding/student tuition balance in operating budget funding sources has shifted completely. $70 State Funding Student Tuition 63% $60 62% 62% $50 $40 38% $30 38% 37% $

6 Supplemental Operating Budget First Read 6

7 Operating (Tuition) Fee Assumptions Original Revised Budgeted FTES state supported 10,427 10,250 Enrollment Growth from prior year 1.5% 0% Tuition-Resident Undergraduate 6% 0% Tuition Increase-Nonresident Undergraduate 6% 6% Tuition Increase-Graduate 6% 6% 10,272 FY2014 budgeted Annualized Average Full Time Equivalent Students 10,246 FY2014 actual Annualized Average Full Time Equivalent Students 7

8 University Operating Budget Revenues- All Funds Education and General (Approved) Change (Revised) General Fund State Funds 001 & 08A $39,299,000 38,959,000 Net change from Central Services Adjustments (1,340,000) Additional State Funding for STEM programs 1,000,000 Tuition Operating Fees ,648,000 (3,201,000) 66,447,000 Recharges 3,658,496 (14,723) 3,643,773 Dedicated local Funds ,345, ,345,821 Service Funds 3,637,960 (480,709) 3,157,251 Total Education and General $160,589,277 ($4,036,432) $156,552,845 Auxiliary Enterprises 42,115,635 (111,948) 42,003,687 Scholarships & Fellowships 41,350,000 1,500,000 42,850,000 Sponsored programs 11,135,000 1,425,000 12,560, Operating Revenues $255,189,912 ($1,223,380) $253,966,532 Service Funds variance due to closure of the Print Shop in FY

9 University Operating Budget Education and General Expenditures All Funds (Approved) Change (Revised) General Fund State Funds 001 & 08A $39,299,000 38,959,000 Net change from Central Services Adjustments (1,340,000) Additional State Funding for STEM programs 1,000,000 Tuition Operating Fees ,648,000 (3,201,000) 66,447,000 Recharges 3,658,496 (14,723) 3,643,773 Dedicated local Funds ,440,484 (65,739) 43,374,745 Service Funds 3,668,534 (450,452) 3,218,082 Total Education and General $159,714,514 ($4,071,914) $155,642,600 Auxiliary Enterprises (including deductions) 40,166,588 (53,086) 40,113,502 Scholarships & Fellowships 41,350,000 1,500,000 42,850,000 Sponsored Programs 11,135,000 1,425,000 12,560,000 FY 2015 Operating Budget $252,366,102 ($1,200,000) $251,166,102 Service Funds variance due to closure of the Print Shop in FY

10 Student Technology Fee is $35 per quarter Student Technology Fee All students taking 6 or more credits are assessed the full student technology fee Allocation of resources is recommended by the Student Technology Fee Committee Fee funds general and open access student computing labs replacement and renewal of equipment and operations, key technology services such as student and other web services. Annual replacement of computers along with software, printers, storage, servers Software renewal Investment in the storage area network New investments in library technology, digital signage, universal access software, and recording studio Student Technology Fee- subfund within Fund 148 Budget Revenues $1,145,000 Expenses $1,300,000 Expenses exceed revenues due to use of cash from prior year revenue 10

11 FY Service Funds Budgets Revenue/ Recharges Original Expenditures/ Deductions Change in Fund Balance Revenue/ Recharges Revised Expenditures/ Deductions Change in Fund Balance Printing $480,710 $515,846 ($35,136) $0 $0 $0 Workforce Construction 1,575,000 1,697,490 (122,490) 1,575,000 1,751,572 (176,572) Telecommunications 1,127,251 1,000, ,053 1,127,251 1,011, ,741 Motor Pool 455, , , ,000 0 Service Funds Total $3,637,961 $3,668,534 ($30,573) $3,157,251 $3,218,082 ($60,831) Service funds provide goods and services to other university units. The funds finance their own asset renewal and replacement Funds may have planned use of cash reserves due to cyclical nature of the work Printing operations end in FY

12 FY Auxiliary Funds Budgets Revenue/ Additions Original Expenditures/ Deductions Change in Fund Balance Revenue/ Additions Revised Expenditures /Deductions Change in Fund Balance Housing & Dining $21,076,595 $18,879,426 $2,197,169 $21,076,595 $18,856,465 $2,220,130 S&A Fee Fund (net of Housing debt and financial aid) (detail slides 14 & 15) 8,883,126 9,216,501 (333,375) 8,771,178 9,212,976 (441,798) Recreation Center Fees 213, ,800 (5,800) 213, ,169 31,831 Intercollegiate Athletics 4,685,300 4,649,575 35,725 4,685,300 4,648,842 36,458 Bookstore 5,446,850 5,327, ,259 5,446,850 5,351,646 95,204 Pence Union Building 967,764 1,041,474 (73,710) 967,764 1,046,946 (79,182) Parking 843, ,221 9, , ,458 27,542 Auxiliary Funds Total $42,115,635 $40,166,588 $1,949,047 $42,003,687 $40,113,502 $1,890,185 These funds finance their own asset renewal and replacement 12

13 Student Service and Activity Fee Fund No increase in general SA Fee Sources Original Change Revised S&A Fees (part of tuition rate) $6,738,867 ($114,830) $6,624,037 Recreation Center Fee 2,200, ,200,000 Transportation Fee 609, ,000 Clubs (use of activity generated revenue) 205, ,900 Total Revenues $9,753,767 ($114,830) $9,638,937 Revenue decrease due to change from 2015 original budget enrollment estimate 13

14 Student Service and Activity Fee Uses: As Recommended by Student Service and Activity Fee Committee Original Change Revised Debt Payments $2,930,218 ($4,950) $2,925,268 S&A Fee Allocation 2,795,972 3,950 2,799,922 PUB renewal and replacement 150, ,000 Transportation Contract 609, ,000 Transfer to Athletics 2,256, ,256,000 Financial Aid, Admin Cost 486,552 (5,407) 481,145 Clubs (use of activity generated revenue and reserve) URC equipment replacement and facility improvements 205, , , ,500 Total Uses $10,087,142 ($6,407) $10,080,735 14

15 Scholarships and Fellowships Scholarships and Fellowships include funds for student aid programs, some federal and state aid programs and privately endowed scholarships. Funding levels assumed to remain relatively flat year-to-year. Total increases driven by assumed enrollment growth rates. Original Changed Revised Federal Financial Aid Grants (includes Pell grant and the Supplemental Educational Opportunity Grant SEOG) State Financial Aid Grants (includes State Need Grant) EWU Financial Aid Grants (includes EWU grant, endowed scholarships and license plate) Private Financial Aid Grants (foundation endowed scholarships) $20,000,000 $1,000,000 $21,000,000 17,000, ,000 17,500,000 3,500, ,500, , ,000 Total $41,350,000 $1,500,000 $42,850,000 15

16 Sponsored Programs (Grants & Contracts) Original Changed Revised Federal Research $3,980,000 $440,000 $4,420,000 State Research 3,010,000 (575,000) 2,435,000 Local Research 2,015,000 (30,000) 1,985,000 Private Research 2,130,000 1,590,000 3,720,000 Total $11,135,000 $1,425,000 $12,560,000 Funding and contracts are dependent on state and federal agency funding levels as well as the ability of local governmental and private agencies need for contracted services.. 16

17 Board Action for Supplemental Operating Budget 17

18 Action Items 6% Reduction of Resident Undergraduate Tuition Revised expenditure level for 18

19 University Operating Budget Education and General Expenditures All Funds (Approved) Change (Revised) General Fund State Funds 001 & 08A $39,299,000 38,959,000 Net change from Central Services Adjustments (1,340,000) Additional State Funding for STEM programs 1,000,000 Tuition Operating Fees ,648,000 (3,201,000) 66,447,000 Recharges 3,658,496 (14,723) 3,643,773 Dedicated local Funds ,440,484 (65,739) 43,374,745 Service Funds 3,668,534 (450,452) 3,218,082 Total Education and General $159,714,514 ($4,071,914) $155,642,600 Auxiliary Enterprises (including deductions) 40,166,588 (53,086) 40,113,502 Scholarships & Fellowships 41,350,000 1,500,000 42,850,000 Sponsored Programs 11,135,000 1,425,000 12,560,000 FY 2015 Operating Budget $252,366,102 ($1,200,000) $251,166,102 Service Funds variance due to closure of the Print Shop in FY

20 20