spring 2018 e&g interim budget update fy 2017-18 (current ... · key expenditure/transfer variance...

Spring 2018 E&G Interim Budget UpdateFY 2017-18 (Current Year)FY 2018-19 (Request Year)(As of University Interim BUDRPT Submission-March 8, 2018)

BUDGET SUBCOMMITTEE ● MARCH 30, 2018

PLANNING AND BUDGET ● APRIL 5, 2018

UNIVERSITY FORUM ● APRIL 25, 2018

E&G Interim Budget Update FY 2017-18

2

Balanced; all E&G funds

E&G Revenue/SourcesTuition 80,174,165$ 78,927,701$ (1,246,464)$ Fees 22,467,957 21,956,944 (511,013)$ Total Tuition and Fees 102,642,122$ 100,884,645$ (1,757,477)$ State Appropriation 37,059,188 36,152,927$ (906,261)$ All Other Revenue 5,524,764 6,275,119 750,355$ Use of Carryforward Fund Balance 1 5,478,755 5,284,930 (193,825)$

Total Revenue/Sources 150,704,829$ 148,597,621$ (2,107,208)$

E&G Expenditures and TransfersCompensation Summary:

Salaries and Wages 74,279,271$ 73,947,937$ (331,334)$ Benefits 38,312,350$ 36,486,657 (1,825,693)$ Subtotal, Compensation 112,591,621$ 110,434,594$ (2,157,027)$ Student Financial Aid 3,115,554 3,002,084 (113,470)$ Utilities 2,584,364 2,684,364 100,000$ Other Services and Supplies 26,157,568 25,958,555 (199,013)$ Capital Expenditures and Transfers 6,255,722 6,518,024 262,302$

Total Expenditures and Transfers 150,704,829$ 148,597,621$ (2,107,208)$

Revenue/Sources less Expenditures/Transfers -$ -$ -$

1 Original BUDRPT submission included a projected E&G General Fund deficit of $2,204,236. Interim (Revised) BUDRPT submission projects a $907,878 E&G General Fund deficit.

Educational and General Fund (General, Special Programs, Self-Supporting)

Original BUDRPT Submission

8/31/17

Interim (Revised) BUDRPT Submission

3/9/18 Variance

Revised 1718

Educational and General Fund (General, Special Programs, Self-Supporting)Original BUDRPT Submission 8/31/17Interim (Revised) BUDRPT Submission 3/9/18 Variance

E&G Revenue/Sources244,000.00

Tuition$ 80,174,165$ 78,927,701$ (1,246,464)53,000.00

Fees22,467,95721,956,944$ (511,013)81,203.00

Total Tuition and Fees$ 102,642,122$ 100,884,645$ (1,757,477)67,273.00

State Appropriation37,059,188$ 36,152,927$ (906,261)546,300.00

All Other Revenue5,524,7646,275,119$ 750,355837,400.00

Use of Carryforward Fund Balance 15,478,7555,284,930$ (193,825)(16,100.00)

Total Revenue/Sources$ 150,704,829$ 148,597,621$ (2,107,208)2,889,716.00

316,384.00

E&G Expenditures and Transfers137,809.00

Compensation Summary:1,132,692.00

Salaries and Wages$ 74,279,271$ 73,947,937$ (331,334)6,289,677.00

Benefits$ 38,312,35036,486,657$ (1,825,693)

Subtotal, Compensation$ 112,591,621$ 110,434,594$ (2,157,027)

Student Financial Aid3,115,5543,002,084$ (113,470)

Utilities2,584,3642,684,364$ 100,000

Other Services and Supplies 26,157,56825,958,555$ (199,013)

Capital Expenditures and Transfers6,255,7226,518,024$ 262,302

Total Expenditures and Transfers$ 150,704,829$ 148,597,621$ (2,107,208)

Revenue/Sources less Expenditures/Transfers $ - 0$ - 0$ - 0

1 Original BUDRPT submission included a projected E&G General Fund deficit of $2,204,236. Interim (Revised) BUDRPT submission projects a $907,878 E&G General Fund deficit.

Tied above figures to Fall 2017 budget briefing presentation (Current Year (Projected) FY 2017/18 column) and to the Interim BUDRPT19 Submission (Revised Budget Fy 2017/18 column)

Instit Res-Proj 180630

Uncommitted Institutional Reserve Balance 7/1/17$ 17,443,820

Original E&G General Fund Projected Deficit-FY 2017-18(2,204,236)

Projected FY 2017-18 Carryforward to Institutional Reserve - E&G General Fund Bottom Line Net Improvement- 0

Uncommitted Institutional Reserve Balance 6/30/18-Projected$ 15,239,584

Revised 1819


E&G Revenue/Sources

Tuition$ 81,012,72980,396,729$ (616,000)

Fees22,669,63622,162,016(507,620)

Total Tuition and Fees$ 103,682,365102,558,745$ (1,123,620)

State Appropriation37,059,18836,152,927(906,261)

All Other Revenue5,517,2465,599,21981,973

Use of Carryforward Fund Balance 1,203,4351,827,186623,751

Total Revenue/Sources$ 147,462,234146,138,077$ (1,324,157)

E&G Expenditures and Transfers

Compensation Summary:

Salaries and Wages$ 76,053,16180,720,885$ 4,667,724

Benefits39,315,81836,818,987(2,496,831)all turnover savings included in benefits line for now.

Subtotal, Compensation$ 115,368,979117,539,872$ 2,170,893

Student Financial Aid3,534,7633,659,203124,440

Utilities2,636,0512,736,051100,000

Other Services and Supplies 24,143,62324,521,780378,157

Capital Expenditures and Transfers5,115,1335,110,939(4,194)

Total Expenditures and Transfers$ 150,798,549153,567,845$ 2,769,296

Revenue/Sources less Expenditures/Transfers $ (3,336,315)(7,429,768)$ (4,093,453)


1819 Addtl Considerations

FY 2018-19 Additional Considerations Summary

Projected E&G General Fund Deficit w/Given Assumptions$ (7,429,768)

3.3% State Appropriation Increase 11,193,047

2.5% Tuition Increase 21,913,598add appropr inc, Cheyney loan, and nonrep salary inc est

Potential remaining Deficit$ (4,323,124)

2 For illustrative purposes only. Does not reflect action taken by the Board of Governors.

FY 2018-19 0% Tuition Increase$ 80,396,730

FY 2018-19 1% Tuition Increase81,162,169

1% Tuition Increase-FY 2018-19$ 765,439per (source)

Summary-Budget_Enroll_Positions

Educational and General Budget

Original ProjectionRevised ProjectionChange from OriginalOriginal ProjectionRevised ProjectionChange from Original

Revenue/SourcesFY 2017/18FY 2017/18$%FY 2018/19FY 2018/19$%

Tuition$80,174,165$78,927,701($1,246,464)-1.6%$81,012,729$ 80,396,729($616,000)-0.8%

Fees22,467,95721,956,944(511,013)-2.3%22,669,63622,162,016(507,620)-2.2%

State Appropriation 37,059,18836,152,927(906,261)-2.4%37,059,18836,152,927(906,261)-2.4%

All Other Revenue5,524,7646,275,119750,35513.6%5,517,2465,599,21981,9731.5%

Planned Use of Carryforward 5,478,7555,284,930(193,825)-3.5%1,203,4351,827,186623,75151.8%

Total Revenue/Sources$150,704,829$148,597,621($2,107,208)-1.4%$147,462,234$146,138,077($1,324,157)-0.9%

Expenditures and Transfers


Salaries and Wages$74,279,271$73,947,937($331,334)-0.4%$76,053,161$ 80,720,885$4,667,7246.1%

Benefits38,312,35036,486,657(1,825,693)-4.8%39,315,81836,818,987(2,496,831)-6.4%

Subtotal, Compensation$112,591,621$110,434,594($2,157,027)-1.9%$115,368,979$ 117,539,872$2,170,8931.9%

Student Financial Aid 3,115,5543,002,084(113,470)-3.6%3,534,7633,659,203124,4403.5%

Utilities2,584,3642,684,364100,0003.9%2,636,0512,736,051100,0003.8%

Other Services and Supplies26,157,56825,958,555(199,013)-0.8%24,143,62324,521,780378,1571.6%

Subtotal, All Services and Supplies$31,857,486$31,645,003($212,483)-0.7%$30,314,437$ 30,917,034$602,5972.0%

Capital Expenditures and Transfers6,255,7226,518,024262,3024.2%5,115,1335,110,939(4,194)-0.1%

Total Expenditures and Transfers$150,704,829$148,597,621($2,107,208)-1.4%$150,798,549$ 153,567,845$2,769,2961.8%

Revenue/Sources Less Expenditures/Transfers$0$0$0($3,336,315)$ (7,429,768)($4,093,453)

Annualized FTE Enrollment


FY 2017/18FY 2017/18$%FY 2018/19FY 2018/19$%

In-State Undergraduate7,397.007,434.0037.000.5%7,456.007,330.00(126.00)-1.7%

Out-of-State Undergraduate803.00760.00(43.00)-5.4%807.00836.0029.003.6%

In-State Graduate491.00513.0022.004.5%502.00529.0027.005.4%

Out-of-State Graduate76.0068.00(8.00)-10.5%76.0067.00(9.00)-11.8%

Total FTE Enrollment8,767.008,775.008.000.1%8,841.008,762.00(79.00)-0.9%

E&G FTE of Budgeted Positions


FY 2017/18FY 2017/18$%FY 2018/19FY 2018/19$%

Faculty490.75492.752.000.4%491.75493.752.000.4%

AFSCME321.95325.643.691.1%322.45326.143.691.1%

Nonrepresented111.12116.745.625.1%113.12118.745.625.0%

SCUPA63.1362.49(0.64)-1.0%63.1362.49(0.64)-1.0%

All Other59.7760.270.500.8%59.7760.270.500.8%

Total FTE of Budgeted Positions1,046.721,057.8911.171.1%1,050.221,061.3911.171.1%

Bargaining UnitFY 2017/18 ChangeExplanation

Faculty2.00Temp funded counselor positions-Health/Wellness Center-+2

AFSCME3.69New positions-+3 (President's Office-1, HR (Collaboration with MU)+2); Shift of custodial from Aux to E&G-+1; Previosuly funded grant position now E&G funded-+.69; Reclass of position from AFSCME to Management--1 (President's Office)

Nonrepresented5.62New positions-+3.5 (Academic Affairs (Exec Director/AVP Innovation and Outreach)-+1, HR (Exec Assoc; Shared Services for MU)-+1; University Advancement (Scholarship Coordinator)-+1; Student Affairs (Asst Director for Student Union and Activities-E&G portion of position-Greek Life manager)-+.5); Reclass of position to Management from AFSCME-+1 (President's Office); Reintroduction of previously frozen position-+1 (Academic Affairs (Director of Administration Applications)); Previously funded grant position now E&G funded-+.12

SCUPA(0.64)Previously funded E&G positions now grant funded--.64

All Other (Coaches, Nurses, Police)0.50Co-op Interns-+.5 (Completion of temp assignment-Academic Enrichment--.5; Co-op intern extension of assignment-Sports Information-+1)

Total Change11.17

Key Revenue/Source Variance Drivers-E&G Interim Budget UpdateFY 2017-18

Tuition revenue lower than originally projected (-$1.3MM); Enrollment for fall/spring (primarily non-resident undergraduate and non-resident graduate); winter/summer

Fee revenue lower than originally projected (-$.5MM); enrollment changes (technology tuition fee, academic enhancement fee, student success fee, health services/wellness fee, and transportation fee)

Performance funding lower than originally projected (-$.9MM); performance funding awards made on November 1, 2017

Other revenue higher than originally projected (+$.8MM): Unexpected 2016/17 healthcare settlement-Highmark (+$.7MM) Higher than expected interest income (+$.1MM)

Adjustment to Planned Use of Carryforward Fund Balance-Source (-$.2MM); primarily attributed to: Decrease in projected use of Institutional Reserve to balance the E&G General Fund budget (-$1.3MM) Increase in projected use of Carryforward Fund Balance-Special Programs and Self-Supporting funds (primarily Health/Wellness and

Technology Fee funds) (+$.3MM) Increase in projected use of Carryforward Fund Balance-Special Programs and Self-Supporting funds for various initiatives identified after

original budget submission was made (+$.7MM)

3

Key Expenditure/Transfer Variance Drivers-E&G Interim Budget UpdateFY 2017-18

Labor costs $2.2MM lower than originally projected: Revised Salary and Benefit Savings Projection-March 2018-$5.5MM 1

Original Salary and Benefit Savings Projection-August 2017-$3.3MM Projected Decrease in Salary and Benefits = $2.2MM ($5.5MM less $3.3MM) 1 Primarily comprised of: vacancies ($4.4MM), healthcare reserves ($.5MM), PEBTF mid-year annuitant rate change ($.3MM); unpaid leaves ($.2MM), FICA savings max-pools ($.2MM)

4

$1,494,007 ; 34%

$1,061,421 ; 24%

$1,258,878 ; 29%

$276,593 ; 6% $327,012 ; 7%

Vacancy Salary & Benefit Savings by Unit

APSCUF AFSCME Non-Rep SCUPA Other

FY 2017-18 E&G Interim Budget Update Summary Budget is balanced for all E&G funds (General, Special Programs, Self-Supporting)

Interim budget projection requires use of institutional reserve, in the amount of $907,878 to balance the E&G General Fund budget

Projected E&G General fund bottom line net improvement of $1.3MM (original projected E&G General Fund projected deficit of $2.2MM vs. revised projected E&G General Fund deficit of $.9MM) is primarily attributed to the following:

5

Lower than Projected Tuition Revenue -$1.3MM

Lower than Projected Fees (primarily Student Success and Application fees)

-$.1MM

Lower than Projected State Appropriation (Performance Funding)

-$.9MM

Higher than Projected Other Revenue (primarily healthcare settlement and interest income)

$.8MM

Lower than Projected Salary and Benefits $2.5MM

Lower than Projected Student Financial Aid $.2MM

Lower than Projected Other Services and Supplies

$.2MM

Projected E&G General Fund Bottom Line Net Improvement*

$1.3MM

Revised E&G General Fund Proj. Deficit -$.9MM

Original E&G General Fund Proj. Deficit -$2.2MM

Projected E&G General Fund BottomLine Net Improvement

$1.3MM *Numbers may not add due to rounding

6/30/18 Institutional Reserve (E&G General Fund) Rollforward - Projectedand

Uncommitted Institutional Reserve Balance Available for Use-FY 2019 and Beyond - Projected

6

Represents approximately

10.4% of FY 2018-19 E&G Budget

Institutional Reserve Balance 7/1/17 18,573,830$ Original E&G General Fund Projected Deficit-FY 2017-18 (2,204,236) Projected FY 2017-18 Carryforward to Institutional Reserve - E&G General Fund Bottom Line Net Improvement 1,304,894 Transfer for 1099 Lightstreet Road Property Purchase as per Planned Use of Carryforward (FY 2018) (250,000) Institutional Reserve Balance 6/30/18-Projected 17,424,488$ Strategic Enrollment Plan-Action Plan as per Planned Use of Carryforward (FY 2019) (837,094) Market Research and Brand Development Study-Year 1 (FY 2019) (666,667) Uncommitted Institutional Reserve Balance Available for Use-FY 2019 and Beyond-Projected 15,920,727$

E&G Interim Budget Update FY 2018-19

Unbalanced; Projected deficit is in the E&G General Fund; Special Programs/Self-Supporting funds are balanced.

7

E&G Revenue/SourcesTuition 81,012,729$ 80,396,729 (616,000)$ Fees 22,669,636 22,162,016 (507,620) Total Tuition and Fees 103,682,365$ 102,558,745 (1,123,620)$ State Appropriation 37,059,188 36,152,927 (906,261) All Other Revenue 5,517,246 5,599,219 81,973 Use of Carryforward Fund Balance 1,203,435 1,827,186 623,751

Total Revenue/Sources 147,462,234$ 146,138,077 (1,324,157)$

E&G Expenditures and TransfersCompensation Summary:

Salaries and Wages 76,053,161$ 77,625,306 1,572,145$ Benefits 39,315,818 39,914,566 598,748 Subtotal, Compensation 115,368,979$ 117,539,872 2,170,893$ Student Financial Aid 3,534,763 3,659,203 124,440 Utilities 2,636,051 2,736,051 100,000 Other Services and Supplies 24,143,623 24,521,780 378,157 Capital Expenditures and Transfers 5,115,133 5,110,939 (4,194)

Total Expenditures and Transfers 150,798,549$ 153,567,845 2,769,296$

Revenue/Sources less Expenditures/Transfers (3,336,315)$ (7,429,768) (4,093,453)$

Educational and General Fund (General, Special Programs, Self-Supporting)

Original BUDRPT Submission

8/31/17

Interim (Revised) BUDRPT Submission

3/9/18 Variance

Revised 1718



Tuition$ 80,174,165$ 78,927,701$ (1,246,464)53,000.00

Fees22,467,95721,956,944$ (511,013)81,203.00






316,384.00




Benefits$ 38,312,35036,486,657$ (1,825,693)



Utilities2,584,3642,684,364$ 100,000





1 Original BUDRPT submission included a projected E&G General Fund deficit of $2,204,236. Interim (Revised) BUDRPT submission projects a $907,878 E&G General Fund deficit.see 1011 variance analysis spreadsheet from BAM for detail







Revised 1819


E&G Revenue/Sources

Tuition$ 81,012,72980,396,729$ (616,000)

Fees22,669,63622,162,016(507,620)









Benefits39,315,81839,914,566598,748



Utilities2,636,0512,736,051100,000




















Tuition$80,174,165$78,927,701($1,246,464)-1.6%$81,012,729$ 80,396,729($616,000)-0.8%

Fees22,467,95721,956,944(511,013)-2.3%22,669,63622,162,016(507,620)-2.2%








Benefits38,312,35036,486,657(1,825,693)-4.8%39,315,81839,914,566598,7481.5%



Utilities2,584,3642,684,364100,0003.9%2,636,0512,736,051100,0003.8%








FY 2017/18FY 2017/18$%FY 2018/19FY 2018/19$%








FY 2017/18FY 2017/18$%FY 2018/19FY 2018/19$%

Faculty490.75492.752.000.4%491.75493.752.000.4%

AFSCME321.95325.643.691.1%322.45326.143.691.1%

Nonrepresented111.12116.745.625.1%113.12118.745.625.0%

SCUPA63.1362.49(0.64)-1.0%63.1362.49(0.64)-1.0%

All Other59.7760.270.500.8%59.7760.270.500.8%








Total Change11.17

FY 2018-19 Projected DeficitE&G General Fund

Key Assumptions Used for FY 2018-19 E&G Interim Budget Update

Tuition and Fees: No increase in tuition rates; Enrollment projections updated in accordance with Strategic Enrollment Management plan and most

recent trends in continuing rates No increase in Academic Enhancement and Technology Tuition fees; enrollment projections updated for most recent trends Miscellaneous fees adjusted based on FY 2017-18 revised budget (projected FY 2017-18 actuals)

State Appropriation (Base Allocation and Performance Funding): No increase; Although the Governor’s recommendation includes a 3.3% increase ($15MM) in the System’s E&G appropriation, at

this time, we have been instructed to assume the same appropriation as was received in FY 2017-18. Per the System Office, this will provide a better picture of unmet need, before any adjustments to appropriation or tuition and will provide opportunity forfurther discussion on the allocation of resources (Collaborative Allocation of Resources System Redesign Task Group)

All Other Revenue: Generally consistent with FY 2017-18 revised budget (projected FY 2017-18 actuals) less healthcare settlement

Use of Carryforward Fund Balance: Majority of balance ($1.2MM) reflects planned use of carryforward fund balance as submitted by divisions to the Budget Office

during July/August 2017

Compensation: Assumes all authorized positions will be filled as of July 1, 2018 or August 27, 2018 (start of the fall semester) Salaries and benefits projected based on State System assumptions as of January 3, 2018 (salary step increases = 2.25%-5.00%;

salary GPI increases = 1.25%-2.63% ; healthcare increases = 2.75%-3.00%; annuitant hospitalization increases = 3.00%-20.82%; retirement increases = 0.00%-2.70%)

Services/Supplies and Capital Expenditures: Continued reduction in base budgets (put into effect in 2013-14) CPI increases where appropriate Other known or anticipated adjustments included (i.e. BU Academic Excellence Scholarship program approved by the COT in

November 2014, new tier 2 student institutional scholarship program (Academic Success) approved by the COT in December 2016, new OOS institutional scholarship program (Good Neighbor) approved by the COT in November 2017, base budget increases for Unrestricted Professional Experience Grants and Ruffalo Noel-Levitz Demand Builder (SEP initiative), Market Research and Brand Development Study, etc.)

$(7,429,768) 1As of March 9, 2018 (Interim BUDRPT19 Submission Date)

1 For every 1% increase in approved tuition rates, the projected deficit will be reduced by $765K (assuming no changes in enrollment). It would take approximately a 9.7% tuition increase to balance the E&G General Fund budget.

8

Key Revenue/Source Variance Drivers-E&G Interim Budget UpdateFY 2018-19

Tuition revenue lower than originally projected (-$.6MM) based on most current enrollment projections developed from the Strategic Enrollment Management plan and the most recent trends in continuing rates

Fee revenue lower than originally projected (-$.5MM); enrollment changes (technology tuition fee, academic enhancement fee, student success fee, health services/wellness fee, and transportation fee)

Appropriation revenue lower than originally projected (-$.9MM) Figure provided by the State System Although the Governor’s recommendation includes a $3.3% increase ($15MM) in the System’s E&G appropriation, at this time, we have been

instructed to assume the same appropriation as was received in FY 2017-18. Per the System Office, this will provide a better picture of unmet need, before any adjustments to appropriation or tuition and will provide opportunity for further discussion on the allocation of resources (Collaborative Allocation of Resources System Redesign Task Group)

Adjustment to Planned Use of Carryforward Fund Balance (+$.6MM); primarily attributed to: Market research and brand development study-Year 1 (+$.7MM) Reduction in planned use of carryforward fund balance for Academic Excellence Scholarships (renewal attrition) (-$.05MM)

9

Key Expenditure Drivers-E&G Interim Budget UpdateFY 2018-19

Net labor cost increase (+$2.2MM) primarily attributed to: Salary and benefits associated with the APSCUF contract extension and SPFPA contract that were ratified after the original budget

submission was prepared ($1.7MM APSCUF and $.09MM SPFPA) Increase in positions (11.17) due to primarily due to:

Temporary appointment extensions (2.5) New positions (6.5) (3.0 associated with providing HR/Labor Relations services to Mansfield University; Cost will be fully reimbursed) Reintroduction of previously frozen positions (1.0)

Projection includes $4.7MM in salary and benefit savings based on recent trends

Student financial aid increase (+$.1MM) attributed to: New out-of-state institutional scholarship program approved by the Council of Trustees in November 2017 (+$.2MM) Base budget increase for Unrestricted Professional Experience Grants (PEGS) (+$.05MM) Reductions in Academic Excellence and Academic Success institutional scholarships (attrition on renewals) (-$.1MM) Reduction in BOG Waiver budget based upon System provided maximum number of waivers available (-$.05MM)

Other services and supplies increase (+$.4MM); primarily attributed to: Market research and branding study-year 1 (+$.7MM) Base budget increase-Ruffalo Noel-Levitz Demand Builder (+$.3MM) Net decrease in other services and supplies expense (-$.5MM) within the E&G special programs/self-supporting funds to align with revised revenue

projections

10

FY 2018-19 Interim Budget Update Summary

Original submission projected a $3.3MM shortfall/deficit in the E&G General Fund

Interim budget update adjusted for current enrollment trends, updated salary/benefit information, and other assumptions as previously outlined results in a revised projected shortfall/deficit of $7.4MM in the E&G General Fund

Additional considerations:

11

Projected E&G General Fund Deficit w/Given Assumptions (7,429,768)$ 3.3% State Appropriation Increase 1 1,193,047 2.5% Tuition Increase 2 1,913,598 Most Current Estimate of Cheyney Loan Forgiveness Obligation (866,667) 2.0% Merit Increases (salaries and associated benefits) for Non-Rep Employees 2 (258,526) Potential Remaining Deficit (5,448,317)$


1 For illustrative purposes only. Based on Governor's recommendation applied to FY 2017-18 state appropriation received.


Revised 1718



Tuition$ 80,174,165$ 78,927,701$ (1,246,464)53,000.00

Fees22,467,95721,956,944$ (511,013)81,203.00






316,384.00




Benefits$ 38,312,35036,486,657$ (1,825,693)



Utilities2,584,3642,684,364$ 100,000







1.3


Institutional Reserve Balance 7/1/17$ 18,573,830$ 17,424,488

Original E&G General Fund Projected Deficit-FY 2017-18(2,204,236)Ties to Estimated IR per Deb's spreadsheet

Projected FY 2017-18 Carryforward to Institutional Reserve - E&G General Fund Bottom Line Net Improvement1,304,894

Transfer for 1099 Lightstreet Road Property Purchase as per Planned Use of Carryforward (FY 2018)(250,000)

Institutional Reserve Balance 6/30/18-Projected$ 17,424,488

Strategic Enrollment Plan-Action Plan as per Planned Use of Carryforward (FY 2019)(837,094)

Market Research and Brand Development Study-Year 1(666,667)

Uncommitted Institutional Reserve Balance Available for Use-FY 2019 and Beyond-Projected$ 15,920,727

Institutional Reserve Uncommitted for FY 201915,920,727

Projected FY 2018-19 Budget153,567,845

10.4%

Revised 1819


E&G Revenue/Sources

Tuition$ 81,012,72980,396,729$ (616,000)

Fees22,669,63622,162,016(507,620)









Benefits39,315,81839,914,566598,748



Utilities2,636,0512,736,051100,000











Most Current Estimate of Cheyney Loan Forgiveness Obligation(866,667)

2.0% Merit Increases (salaries and associated benefits) for Non-Rep Employees 2(258,526)

Potential Remaining Deficit$ (5,448,317)










Tuition$80,174,165$78,927,701($1,246,464)-1.6%$81,012,729$ 80,396,729($616,000)-0.8%

Fees22,467,95721,956,944(511,013)-2.3%22,669,63622,162,016(507,620)-2.2%








Benefits38,312,35036,486,657(1,825,693)-4.8%39,315,81839,914,566598,7481.5%



Utilities2,584,3642,684,364100,0003.9%2,636,0512,736,051100,0003.8%








FY 2017/18FY 2017/18Number%FY 2018/19FY 2018/19$%








FY 2017/18FY 2017/18Number%FY 2018/19FY 2018/19$%

Faculty490.75492.752.000.4%491.75493.752.000.4%

AFSCME321.95325.643.691.1%322.45326.143.691.1%

Nonrepresented111.12116.745.625.1%113.12118.745.625.0%

SCUPA63.1362.49(0.64)-1.0%63.1362.49(0.64)-1.0%

All Other59.7760.270.500.8%59.7760.270.500.8%








Total Change11.17

12

2017-18 Interim BUDRPT19-E&G Budget Summary

Original Projection Revised Projection Original Projection Revised ProjectionRevenue/Sources FY 2017/18 FY 2017/18 $ % FY 2018/19 FY 2018/19 $ %Tuition $80,174,165 $78,927,701 ($1,246,464) -1.6% $81,012,729 80,396,729$ ($616,000) -0.8%Fees 22,467,957 21,956,944 (511,013) -2.3% 22,669,636 22,162,016 (507,620) -2.2%State Appropriation 37,059,188 36,152,927 (906,261) -2.4% 37,059,188 36,152,927 (906,261) -2.4%All Other Revenue 5,524,764 6,275,119 750,355 13.6% 5,517,246 5,599,219 81,973 1.5%Planned Use of Carryforward 5,478,755 5,284,930 (193,825) -3.5% 1,203,435 1,827,186 623,751 51.8%Total Revenue/Sources $150,704,829 $148,597,621 ($2,107,208) -1.4% $147,462,234 $146,138,077 ($1,324,157) -0.9%

Expenditures and TransfersCompensation Summary:

Salaries and Wages $74,279,271 $73,947,937 ($331,334) -0.4% $76,053,161 77,625,306$ $1,572,145 2.1%Benefits 38,312,350 36,486,657 (1,825,693) -4.8% 39,315,818 39,914,566 598,748 1.5%

Subtotal, Compensation $112,591,621 $110,434,594 ($2,157,027) -1.9% $115,368,979 117,539,872$ $2,170,893 1.9%Student Financial Aid 3,115,554 3,002,084 (113,470) -3.6% 3,534,763 3,659,203 124,440 3.5%Utilities 2,584,364 2,684,364 100,000 3.9% 2,636,051 2,736,051 100,000 3.8%Other Services and Supplies 26,157,568 25,958,555 (199,013) -0.8% 24,143,623 24,521,780 378,157 1.6%

Subtotal, All Services and Supplies $31,857,486 $31,645,003 ($212,483) -0.7% $30,314,437 30,917,034$ $602,597 2.0%Capital Expenditures and Transfers 6,255,722 6,518,024 262,302 4.2% 5,115,133 5,110,939 (4,194) -0.1%Total Expenditures and Transfers $150,704,829 $148,597,621 ($2,107,208) -1.4% $150,798,549 153,567,845$ $2,769,296 1.8%

Revenue/Sources Less Expenditures/Transfers $0 $0 $0 ($3,336,315) (7,429,768)$ ($4,093,453)

Educational and General BudgetChange from Original Change from Original

Revised 1718



Tuition$ 80,174,165$ 78,927,701$ (1,246,464)53,000.00

Fees22,467,95721,956,944$ (511,013)81,203.00






316,384.00




Benefits$ 38,312,35036,486,657$ (1,825,693)



Utilities2,584,3642,684,364$ 100,000







1.3






Revised 1819


E&G Revenue/Sources

Tuition$ 81,012,72980,396,729$ (616,000)

Fees22,669,63622,162,016(507,620)









Benefits39,315,81839,914,566598,748



Utilities2,636,0512,736,051100,000




















Tuition$80,174,165$78,927,701($1,246,464)-1.6%$81,012,729$ 80,396,729($616,000)-0.8%

Fees22,467,95721,956,944(511,013)-2.3%22,669,63622,162,016(507,620)-2.2%








Benefits38,312,35036,486,657(1,825,693)-4.8%39,315,81839,914,566598,7481.5%



Utilities2,584,3642,684,364100,0003.9%2,636,0512,736,051100,0003.8%








FY 2017/18FY 2017/18$%FY 2018/19FY 2018/19$%








FY 2017/18FY 2017/18$%FY 2018/19FY 2018/19$%

Faculty490.75492.752.000.4%491.75493.752.000.4%

AFSCME321.95325.643.691.1%322.45326.143.691.1%

Nonrepresented111.12116.745.625.1%113.12118.745.625.0%

SCUPA63.1362.49(0.64)-1.0%63.1362.49(0.64)-1.0%

All Other59.7760.270.500.8%59.7760.270.500.8%








Total Change11.17

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2017-18 Interim BUDRPT19-E&G Budget Summary

Annualized FTE EnrollmentOriginal Projection Revised Projection Original Projection Revised Projection

FY 2017/18 FY 2017/18 Number % FY 2018/19 FY 2018/19 Number %In-State Undergraduate 7,397.00 7,434.00 37.00 0.5% 7,456.00 7,330.00 (126.00) -1.7%Out-of-State Undergraduate 803.00 760.00 (43.00) -5.4% 807.00 836.00 29.00 3.6%In-State Graduate 491.00 513.00 22.00 4.5% 502.00 529.00 27.00 5.4%Out-of-State Graduate 76.00 68.00 (8.00) -10.5% 76.00 67.00 (9.00) -11.8%Total FTE Enrollment 8,767.00 8,775.00 8.00 0.1% 8,841.00 8,762.00 (79.00) -0.9%

E&G FTE of Budgeted PositionsOriginal Projection Revised Projection Original Projection Revised Projection

FY 2017/18 FY 2017/18 Number % FY 2018/19 FY 2018/19 Number %Faculty 490.75 492.75 2.00 0.4% 491.75 493.75 2.00 0.4%AFSCME 321.95 325.64 3.69 1.1% 322.45 326.14 3.69 1.1%Nonrepresented 111.12 116.74 5.62 5.1% 113.12 118.74 5.62 5.0%SCUPA 63.13 62.49 (0.64) -1.0% 63.13 62.49 (0.64) -1.0%All Other 59.77 60.27 0.50 0.8% 59.77 60.27 0.50 0.8%Total FTE of Budgeted Positions 1,046.72 1,057.89 11.17 1.1% 1,050.22 1,061.39 11.17 1.1%

Change from Original Change from Original

Change from Original Change from Original

Revised 1718



Tuition$ 80,174,165$ 78,927,701$ (1,246,464)53,000.00

Fees22,467,95721,956,944$ (511,013)81,203.00






316,384.00




Benefits$ 38,312,35036,486,657$ (1,825,693)



Utilities2,584,3642,684,364$ 100,000







1.3


Institutional Reserve Balance 7/1/17$ 18,573,830$ 17,424,488

Original E&G General Fund Projected Deficit-FY 2017-18(2,204,236)Ties to Estimated IR per Deb's spreadsheet

Projected FY 2017-18 Carryforward to Institutional Reserve - E&G General Fund Bottom Line Net Improvement1,304,894

Transfer for 1099 Lightstreet Road Property Purchase as per Planned Use of Carryforward (FY 2018)(250,000)

Institutional Reserve Balance 6/30/18-Projected$ 17,424,488

Strategic Enrollment Plan-Action Plan as per Planned Use of Carryforward (FY 2019)(837,094)

Market Research and Brand Development Study-Year 1 (FY 2019)(666,667)

Uncommitted Institutional Reserve Balance Available for Use-FY 2019 and Beyond-Projected$ 15,920,727

Institutional Reserve Uncommitted for FY 201915,920,727

Projected FY 2018-19 Budget153,567,845

10.4%

Revised 1819


E&G Revenue/Sources

Tuition$ 81,012,72980,396,729$ (616,000)

Fees22,669,63622,162,016(507,620)









Benefits39,315,81839,914,566598,748



Utilities2,636,0512,736,051100,000











Most Current Estimate of Cheyney Loan Forgiveness Obligation(866,667)

2.0% Merit Increases (salaries and associated benefits) for Non-Rep Employees 2(258,526)

Potential Remaining Deficit$ (5,448,317)










Tuition$80,174,165$78,927,701($1,246,464)-1.6%$81,012,729$ 80,396,729($616,000)-0.8%

Fees22,467,95721,956,944(511,013)-2.3%22,669,63622,162,016(507,620)-2.2%








Benefits38,312,35036,486,657(1,825,693)-4.8%39,315,81839,914,566598,7481.5%



Utilities2,584,3642,684,364100,0003.9%2,636,0512,736,051100,0003.8%








FY 2017/18FY 2017/18Number%FY 2018/19FY 2018/19Number%








FY 2017/18FY 2017/18Number%FY 2018/19FY 2018/19Number%

Faculty490.75492.752.000.4%491.75493.752.000.4%

AFSCME321.95325.643.691.1%322.45326.143.691.1%

Nonrepresented111.12116.745.625.1%113.12118.745.625.0%

SCUPA63.1362.49(0.64)-1.0%63.1362.49(0.64)-1.0%

All Other59.7760.270.500.8%59.7760.270.500.8%








Total Change11.17

Key Unknowns Going into FY 2018-19

Final state appropriation allocation and related impacts to tuition/technology tuition increases

System Redesign Taskforce recommendations around collaborative allocation of resources

Obligation for Cheyney loan forgiveness

Pay increases for non-represented employees Salary adjustments for non-represented employees have not been approved by the Board of Governors

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Discussion

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�Spring 2018 �E&G Interim Budget Update�FY 2017-18 (Current Year)�FY 2018-19 (Request Year)��(As of University Interim BUDRPT Submission-March 8, 2018)Slide Number 2Slide Number 3Slide Number 4Slide Number 5Slide Number 6Slide Number 7FY 2018-19 Projected Deficit�E&G General Fund�Slide Number 9Slide Number 10Slide Number 11Slide Number 12Slide Number 13Slide Number 14Discussion

spring 2018 e&g interim budget update fy 2017-18 (current ... · key expenditure/transfer variance...

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