Download - FY 2010 Interim Plan
FY 2010 Interim Plan
WVU Board of GovernorsJune 5, 2009
FY2010 Interim Plan Timeline
June 5, 2009 – Adoption of an FY 2010 Interim Forecast
November 6, 2009 – Adoption of the FY 2010 Forecast
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Budget Uncertainty
State Appropriations Revenues• Budget Reduction – One-time reduction $6 million• Use of Federal Stimulus Funding – pending
Tuition and Fees Revenues – should be known by September
• Impact of Current Economic Conditions on Enrollment
• First –Time Freshman• Transfer Students• Returning Students • Total Students – 28,500
Endowment Spend Revenues - evaluation of impact on colleges should be known by July
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FY 2009 Actual FY2010 Projected FY2011 Projected FY2012 Projected$0
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
$140,000,000
$160,000,000$152,011,029
$144,410,478
State Appropriations Stimulus Funding
Anticipated Changes in State AppropriationsD
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First-Time Freshman Enrollment Projections Based on Admits
2,175
2,611
4,786
5
11/17
11/30
12/7
12/14
1/4 1/11
1/18
1/25
2/1 2/8 2/15
2/22
3/1 3/8 3/15
3/22
3/29
4/5 4/12
4/19
4/26
5/3 5/11
5/18
5/25
6/11,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
Total
Residents
Non-Residents
West Virginia University - Main Campus2009 FTF Projected Enrollment as of June 1, 2009
Based on Previous Year YTD Admits and Confirmations
Freshman Enrollment Projections Based on Confirmations1
4,557
2,431
2,125
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1Confirmations include academic deposits, housing deposits and or registration for orientation. If a prospective studentHas taken any of these actions they are reflected a confirmed for purposes of this analysis.
11/17
11/30
12/7
12/14
1/4 1/11
1/18
1/25
2/1 2/8 2/15
2/22
3/1 3/8 3/15
3/22
3/29
4/5 4/12
4/19
4/26
5/3 5/11
5/18
5/25
6/11,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
West Virginia University - Main Campus2009 FTF Projected Enrollment as of June 1, 2009
Based on Previous Year YTD Admits and Confirmations
Total
Non-Resident
Resident
Freshman Enrollment Projections Based on Applications and Confirmations1
7
4,557
4,785
11/17
11/30
12/7
12/14
1/4 1/11
1/18
1/25
2/1 2/8 2/15
2/22
3/1 3/8 3/15
3/22
3/29
4/5 4/12
4/19
4/26
5/3 5/11
5/18
5/25
6/11,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
Total
Residents
Non-Residents
West Virginia University - Main Campus2009 FTF Projected Enrollment as of June 1, 2009
Based on Previous Year YTD Admits and Confirmations
1Confirmations include academic deposits, housing deposits and or registration for orientation. If a prospective studentHas taken any of these actions they are reflected a confirmed for purposes of this analysis.
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2010 Interim Plan - Planning Framework
• Maintain a balanced budget excluding unrealized investment losses and GASB 45 Liabilities.
• Encourage normal mission-driven operations to maintain academic quality and limit burdensome spending restrictions, e.g. hiring and travel freezes, additional approvals on capital items.
• Define strategic priorities and invest in those priorities during this uncertain financial environment; e.g. research enterprise, salary increases, new faculty and staff positions, and new programs.
• Focus on identifying new sources of revenue and operating efficiencies.
• Recognize that tuition revenue is paramount to the University’s long-term success. Therefore, we must be sensitive to changing market conditions.
• Limit the impact of permanent budget cuts until there is greater certainty about the level of state support and other revenue sources.
• Effectively manage cash and other resources needed to maintain financial stability and to deal with unforeseen events.
WVU Financial PlanFY2006 – FY2010
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WVU Financial Plan
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$476,626$519,263
$560,353 $565,635$620,302 $599,170
Operating Revenues
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WVU Financial Plan
Operating Revenue Highlights
Other Operating Revenue
Auxiliary Enterprises Revenue
Grants and Contracts
Tuition and Fees
$0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000
$33,338
$102,969
$174,318
$288,545
$31,602
$96,208
$232,835
$259,657
FY2010 Plan FY2010 Interim Forecast
Federal
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StateNongovernmental
Federal StateNongovernmental
WVU Financial Plan
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WVU Financial Plan
Tuition Increase History
FY2006 FY2007 FY2008 FY2009 FY20100%
1%
2%
3%
4%
5%
6%
7%
8%
9%
5.50% 5.50% 5.50% 5.50% 5.50%
6.75%
7.50%
5.49%
8.00%
4.00%
FY2010 Plan Actual
WVU Financial Plan
Operating Expenses
FY2006 Actual FY2007 Actual FY2008 Actual FY2009 Forecast (Budget)
FY2010 Plan FY2010 Interim Forecast
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$675,516$718,913
$784,932 $794,483 $821,247$855,306
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WVU Financial Plan
Operating Expenses Highlights
All Other Operating Expenses
Supplies and Other Services
Benefits
Salaries and Wages
$0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000
$107,157
$176,999
$166,809
$404,341
$107,691
$194,077
$143,442
$376,037
FY 2010 Plan FY2010 Interim Forecast
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GASB 45
WVU Financial Plan
Salary Increase History
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FY2006 FY2007 FY2008 FY2009 FY20100%
1%
2%
3%
4%
5%
6%
7%
8%
3.00% 3.00% 3.00% 3.00% 3.00%3.50%
4.00%
5.00%
7.37%
0.00%
FY2010 Plan Actual
WVU Financial Plan
Non-Operating Revenues (Expenses)
FY2006 Actual FY2007 Actual FY2008 Actual FY2009 Forecast (Budget)
FY2010 Plan FY2010 Interim Forecast
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$201,480$213,802
$230,505$215,867
$203,769 $205,420
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WVU Financial Plan
Non-Operating Revenues (Expenses) Highlights
State Appropriations
All Other Non-Operating Revenues (Expenses)
($50,000) $0 $50,000 $100,000 $150,000 $200,000 $250,000
($583)
$206,003
($5,110)
$208,879
FY2010 Plan FY2010 Interim Forecast
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WVU Financial Plan
Operating Revenues Operating Expenses Non-Operating Revenues
Income Before Other Activity
Adjusted for GASB 45
-$200,000
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$599,170
$855,306
$205,420
($50,716)($813)
FY2010 Interim Forecast
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WVU Financial Plan
FY2006 Actual FY2007 Actual FY2008 Actual FY2009 Forecast (Budget)
FY2010 Plan FY2010 Interim Forecast
($60,000)
($50,000)
($40,000)
($30,000)
($20,000)
($10,000)
$0
$10,000
$20,000
$6,269
$14,152
$5,926
($12,981)
$2,824
($50,716)
($439) ($813)
Unadjusted Adjusted to Reflect Impact of GASB 45
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Income Before Other Activity
WVU Financial Plan
($60,000)
($40,000)
($20,000)
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$43,394
$97,857 $89,958
$10,297 $3,134
(50,716)Dol
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Increase (Decrease) in Net Assets
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WVU Financial Plan
FY2006 Actu
al
FY2007 Actu
al
FY2008 Actu
al
FY2009 Fo
recast
(Budget)
FY2010 Pl
an
FY2010 In
terim
Forec
ast($60,000)($40,000)($20,000)
$0 $20,000 $40,000 $60,000 $80,000
$100,000 $120,000
$43,394
$97,857 $89,958
$10,297 $3,134
($42,669)
Dol
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Increase (Decrease) in Net Assets
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