Budget Model Results Fiscal Year 2009. Prior budget system featured central control and fixed budgets New budget system is variable with decentralized.

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Presentation transcript:

Budget Model Results Fiscal Year 2009

Prior budget system featured central control and fixed budgets New budget system is variable with decentralized decision-making New system began in July 2005 This report summarizes results for the fourth year under the new system.

Funding Tied to Revenue Generated: State Appropriations Tuition Special Programs Fees Facilitates enrollment growth

State AppropriationsTuitionSpecial ProgramsFees Note: Prior agreements for special programs and fees are incorporated into the current budget model.

Timing of Transfers Fees – each semester Special programs – each semester Tuition – end of year Updates Provided during the year

ActualBudgetedDifference State Appropriations$ 21.6M$ 21.8M$ (0.2M) Tuition & Fee Revenue56.1M53.4M2.7M Other Revenue0.7M0.6M0.1M Total$ 78.4M$ 75.8M$ 2.6M Total General Fund revenue above budget: $2.6M

*Budget adjustments include the year-end settlement and fringe benefit transfers.

* Includes Chancellor, Provost, Associate Provost, Vice Chancellor for Administration, Vice Chancellor for Student Services & Enrollment Management, and Vice Chancellor for Institutional Advancement groups

 Revenue Targets: Undergraduate – assumed tuition up 6.5% and enrollment up 2% Graduate – assumed tuition up 4.9% and enrollment up 2%  Change in State Appropriations  Change in Fixed Costs Note: Fixed costs include utilities, debt service payments, maintenance contracts, business operations and insurance recharges.

 Budget model review completed Feb  Strong support, with some changes:  Allow academic units to carry forward funds for program development  Increase return to CAS from 50% to 55%  Establish regular fall and spring budget meetings with key participants  Create Investment Pool for Academic Initiatives under control of the Provost  Eliminate practice of annual fringe benefit adjustments

VCA OfficeDave Barthelmes Financial ServicesJerry Glasco Christy Brownell Shelbie Rathbun Website

How is the budget set for the campus? The budget is set based on assumptions regarding enrollment and tuition rates, state appropriations, changes in fixed costs and new initiatives. How is my base budget determined each year? Each unit’s base budget is determined based on its share of dollars assumed for revenue, state appropriations, fixed costs, and new initiatives. How is my merit funded? Merit is covered by increases to budgets for a given year.