major budget policy issues and outlook o tuition and financial aid o endowed, contract, professional...
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BUDGET PLANNING OVERVIEW
GRADUATE & PROFESSIONAL STUDENT ASSEMBLY
FEBRUARY 20, 2012
VICE PRESIDENT ELMIRA MANGUM
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Agenda
Major Budget Policy Issues and Outlooko Tuition and Financial Aid
o Endowed, Contract, Professional o Endowment Payouto Salary Improvement Plan
Elimination of Structural Deficito Reduce Administrative Costs (Streamlining Program) o No new costs without funding or identified income sources
Budget Model Change
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Budgeted Revenues for FY 2012
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Budgeted Operating Expenditures
for FY 2012
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Five Year Total Capital Plan - $1.649B
FY 2012 Expenditures $ 373.9 M
• Projects Approved and Underway 977.2 M• Major Projects/ New Construction 157.6 M• New York State
66.0 M• Maintenance, Infrastructure, Unit 397.1
M• Weill Cornell Medical Projects 51.0
M
This Five Year Plan represents a 11% reduction inactivity from FY 2011 plan.
24% reduction in activity from FY 2010 plan
37% reduction in activity from FY 2009 plan
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$0
$5
$10
$15
$20
$25
$30
Cost Savings Results by Initiative
Original Target Recovered to Date Outstanding
Millions
ASP Initiatives (in Millions)
Original Target
Recovered to Date
Outstanding
Procurement 30.0$ 2.7$ 23.5$
Spans & Layers 17.3 14.4 2.7 Information Technology 12.0 2.0 11.0 Provost - 12.0 Facilities 15.9 6.4 0.3 Centers & Institutes - 4.9 - Student & Academic Services - 0.2 1.8 Finance 1.8 0.5 0.8 Human Resources 1.0 - (0.6) Communications - - 0.5
TOTALS 78.0$ 43.2$ 40.0$
(Net of Investments)
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OUTLOOK
Quality & Access Competitive Salaries & Benefits
Program Enrichment
Undergraduate Tuition and Aid
State Support
Compliance
Facilities/Utilities
Increases in Security
Supplies & Materials
Balanced Budget
Market Position
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Undergraduate Peer Tuition and Mandatory Fees
University Comparison Group 2011-12 Change %Columbia $ 45,290 4.6%Dartmouth 42,996 6.3%Chicago 42,783 4.1%Duke 42,410 4.3%Brown 42,230 3.5%U. Pennsylvania 42,098 2.8%Northwestern 41,983 4.4%Cornell (Endowed & Nonresident) 41,541 4.7%MIT 40,732 3.9%Stanford 40,569 2.6%Yale 40,500 5.7%Harvard 39,581 3.7%Princeton 37,865 1.2%U. Virginia (nonresident) 36,578 8.9%UC-Berkeley (nonresident) 35,713 5.6%
IVY Average 41,547 4.0%
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Graduate Tuition
Graduate Research - No Change
Graduate School - Professional Degree 4.5%Market Based Changes set by Individual Colleges
3% Graduate Stipend Increase was approved with the campus Salary Improvement Program
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Graduate School Tuition History
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Endowment Payout Policy
Goal: Steady, predictable payout increase for operating budgets smoothed for budget and planning purposes with sensitivity to changes in market value.
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The Budget Model Change
• Transparent, simple, data informed, and advance academic excellence
• Manage the cost pressures of the current environment• Improve service, quality and reduce costs• Improving processes to respond to:
• Deep cuts in state appropriations• Decreasing parental and student ability to pay tuition
bills• Severely constrained revenues• Declines in fundraising, investment income, and
research grants• Increasing operational costs, deferred maintenance, and
other capital
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Policy Building Committee
Team Members
VP P&B,Elmira Mangum
Senior Vice Provost, Research
Senior Vice Provost, Land Grant
Vice Provost, Undergrad. Ed.
Budget Model Steering Advisors
Leadership
Vice Provost,Dean of
Graduate School
Vice President, Facilities
University Faculty Senate - FPC
Set direction Provide guidance Test alternatives Make decisions
Advise and represent stakeholders
Champion redesign efforts
Address policy issues
Propose alternatives Recommend specific
solutions, policies and procedures
Determine budget impact of recommendations
Provost,Kent Fuchs
Deans(A&S, CALS, CIS,
ENG. & DVM)
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Next Steps & Implementation
Undergraduate Tuition and Financial Aid Pooled and distributed Space Use – Space Study launched, guidelines developed Cost Allocation Methodology University Support Pool – to fund central costs Facilities and Administrative Reimbursements – under
development New York State Appropriation – under development Graduate Tuition – no change Cornell Abroad – moved to GP funding & CAM Endowed Professorships – centrally held – moved to Dean’s office
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