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Financial Considerations Criterion
March 18, 2015
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Objectives: • To raise the overall level of financial awareness on
campus by providing budget holders with comprehensive financial data that is useful and is in an easy to understand format.
• Standardized information across all faculties and units to assist in making ‘informed’ resource allocation decisions.
Financial Considerations Criterion
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Three Categories: • Financial data: Used to manage your faculty and
unit (e.g. budgets, actual revenues/expenses, carry forward, and equipment reserve balances, etc.)
• Employee data: FTE figures, sessional data, base budget vs actual employee salaries.
• Other information and measures: Actual tuition generated vs budgeted tuition (based on targeted EETS). Provides information on what effect your faculty/unit has on overall university planning and resources (e.g. actual versus targeted enrolment, space & overhead expenses, etc.)
Financial Considerations Criterion
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(1) Graphical Summaries
Financial Considerations Criterion
(2) Detailed Tables
Two ways to view data at the faculty and unit level:
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Unit Graphs – Financial Data
Base Budget Annual Budget Actual costs (netof revenues) Surplus (deficit) Cumulative
CarryforwardEquipmentReserves
2013/14 $7,622,186 $7,094,564 $6,686,283 $321,456 $12,456 $32,1622012/13 $7,795,353 $7,283,896 $6,912,355 $245,482 $54,654 $32,0022011/12 $7,893,828 $7,424,726 $6,131,206 $322,456 $124,554 $32,766
$0
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
3 Year Trend - General Operating Year End Fund Balances
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Unit Graphs – Financial Data
Specific Purpose $934,761
59%
University of Victoria Foundation $642,768
41%
2013/14 Specific Purpose & Foundation
Year End Fund Balances
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Unit Graphs – Employee Data
Faculty Sessionals -Continuing
Sessionals -Term
OtherInstructional
Faculty(Dean, 50%Assoc Dean)
PEA -Continuing PEA - Term
CUPE 951,Regular F/T
& P/T
CUPE 951,Term/Casual
Base Budget 4,443,638 162,900 504,980 1,861 0 524,565 4,599 329,725 20,728Actual 4,012,546 254,654 607,353 2,456 0 470,811 32,255 303,344 0
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,0002013/14 Base Budget vs Actual Employee Salary Costs
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Unit Graphs – Other Information & Measures
2013/14 2012/13 2011/12Undergraduate ($31,865) ($62,975) $113,273Graduate $124,562 $124,865 $164,584Total $92,697 $61,890 $277,857
($100,000)
$0
$100,000
$200,000
$300,000
Targeted Tuition Achieved (Not Achieved)
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Faculty Graphs – Financial Data
Dean's Office Unit 1 Unit 2 Unit 3 Unit 4 Unit 5 Unit 613/14 $642,250 $1,599,000 $79,700 $3,202,400 $1,911,400 $1,230,100 $1,207,45012/13 $696,350 $1,502,900 $80,900 $2,972,300 $1,968,300 $1,263,800 $1,229,05011/12 $606,700 $1,457,800 $147,900 $2,887,800 $1,920,750 $1,197,200 $1,242,250
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
Base Budget Allocations by Unit
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Faculty Graphs – Financial Data
Dean's Office Unit 1 Unit 2 Unit 3 Unit 4 Unit 52013/14 93.50% 89.30% 97.90% 92.00% 96.65% 97.40%2012/13 89.80% 89.50% 97.90% 92.10% 96.90% 97.30%2011/12 90.20% 89.60% 97.80% 91.80% 96.80% 97.20%
84.00%
86.00%
88.00%
90.00%
92.00%
94.00%
96.00%
98.00%
100.00%
% of Unit Budgets Allocated to Salaries
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1.8 2.3
1.5
3.3 3.3
3.3
1.0 1.0 2.0
3.0 3.0 3.0
6.0 7.0 7.0
2.5 2.5 2.5
1.0 1.0 1.0
1.0 1.0
1.0
2.0 2.0 2.0
1.0
1.0 1.0
1.0 1.0 1.0
1.0 1.0 1.0
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
13/1412/1311/12 13/1412/1311/12 13/1412/1311/12 13/1412/1311/12 13/1412/1311/12 13/1412/1311/12
Dean's Office Unit 1 Unit 2 Unit 3 Unit 4 Unit 5
Budgeted FTE by Empl Group
Program Support- FTE by Unit
Dean & Associate Dean PEA CUPE
Faculty Graphs – Employee Data
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Faculty Graphs – Other Information & Measures
ActualTuition
TargetedTuition
ActualTuition
TargetedTuition
ActualTuition
TargetedTuition
2013/14 2012/13 2011/12Unit 1 $3,527,073 $3,474,886 $3,421,972 $3,404,089 $3,461,990 $3,252,276Unit 2 $2,023,946 $2,027,744 $1,862,140 $1,975,829 $2,044,883 $1,909,304Unit 3 $1,191,681 $929,522 $1,042,055 $822,808 $913,033 $845,326Unit 4 $1,497,666 $813,918 $1,351,963 $953,943 $1,217,125 $863,255Unit 5 $1,431,178 $1,420,842 $1,234,390 $1,383,138 $1,426,003 $1,292,233
$9,671,544
$8,666,912 $8,912,520 $8,539,807 $9,063,034
$8,162,394
$0
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
Targeted Tuition Achieved (Not Achieved)
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Table Data
Financial data: used to manage your faculty and unit (e.g. budgets, actual revenues/expenses, carry forward and appropriation balances, etc.)
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Table Data
Financial data: used to manage your faculty and unit (e.g. budgets, actual revenues/expenses, carry forward and appropriation balances, etc.)
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• Information is collected centrally, where possible.
• Where information is not available centrally, assistance will be required from Deans and faculty/unit Administrative Officers.
• Information will evolve over time as user needs are better defined and to provide information for new university priorities.
Summary & Next Steps