financially sustaining the university geoffrey s. chatas senior vice president
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Financially Sustaining the University Geoffrey S. Chatas Senior Vice President Chief Financial Officer Business and Finance October 27, 2011. Current Budget Environment. $5.0 Billion Budget. Where It Comes From. General Funds $1.4 B. Earnings $0.4 B. Restricted $0.9 B. - PowerPoint PPT PresentationTRANSCRIPT
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Financially Sustaining the University
Geoffrey S. ChatasSenior Vice PresidentChief Financial OfficerBusiness and Finance
October 27, 2011
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$5.0 Billion Budget
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Current Budget Environment
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Restricted$0.9 B
Health System$2.3 B
Earnings$0.4 B
General Funds$1.4 B
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Where It Comes From
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Government Support $0.92 Billion Student Fees $0.92 BillionOther Resources $0.85 Billion(includes auxiliaries, dept sales, private grants, endowment & investment income)Health System $2.3 Billion
Where It Comes From
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How Funding Is Spent
AccessMaintaining financial aid for qualified
studentsSemester ConversionFinancial Stability
Protecting the university’s futureEnrollment, Academic Plan
Focus on Enrollment PlanMove Academic Plan forward
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Health System $1.9 BillionInstructional and General $1.5 Billion
Instruction and Department Research - $0.89 BAcademic Support - $0.15 BStudent Services – $0.10 BInstitutional Support - $0.20 BPlant Operations and Maintenance - $0.13 B
Separately Budgeted Research $0.5 Billion OSU Physicians $0.34 BillionAuxiliaries $0.33 BillionScholarship and Fellowship $0.24 BillionPublic Service $0.13 Billion
How Funding Is Spent
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Being Innovative- Tough economic times means can’t count
on increase in state support- Federal dollars flat- No multi-billion-dollar endowment
Investing In Our Core
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Investing In Our Core
Remaining Competitive- Invest in academic core to attract
best and brightest- Funding things we cannot do now
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•Streamlining to Simplify and Reduce Costs•Enhancing Revenue Streams•Evaluating Non-core Assets
Rationale
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Generated Funds = Additional Academic & Student
Services & Support
Rationale
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Generated Funds…Maintain, Enhance
Current Services
Rationale
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• Process authorized by Board• Delegated decision-making• Consistent with other directives
Parking RFQ
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• No decisions have been made.• University-wide committee to review RFQ’s,
make recommendations
Parking RFQ
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Parking Advisory Committee
Parking RFQ
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• Fact-based decision• Chosen respondent will offer best package
- Funding- Services- Support- Experience
Parking RFQ
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• Long-term lease• Outside vendor• Up to 50-year lease• $600M+ revenue, avoided cost
Parking RFQ
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Vendors• High funding threshold to be considered• Solid foundation• Funding ready to invest
Parking RFQ
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• Midway through process• RFQ ready to review• RFP planned to be issued in early 2012• Implementation summer 2012
Timeline, Moving Forward
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We Will Continue to Own Our Parking Assets
Timeline, Moving Forward
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We Do Not Have All the Answers.
We Are Committed to Transparency.
Timeline, Moving Forward
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• Town Hall Meetings• Web Site
• Final Decisions Shared
Timeline, Moving Forward
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Questions?
Timeline, Moving Forward