FY16 Recalibration, continued Sue Wolfe, Budget & Financial Planning F&A Advisory Group Feb 23, 2016.

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Presentation transcript:

FY16 Recalibration, continued Sue Wolfe, Budget & Financial Planning F&A Advisory Group Feb 23, 2016

includes building a culture of evidence, where statements and decisions are informed by data and analysis Financial Strength

Operating Margin Trends

FY16 No new state funding FY15 retro collective bargaining Higher employment Enrollment higher than last yr, lower than fcst & budget Late Oct($17.5 million) -4.5% Mid-Jan target ($15.5 million) Gap$2.0 million Jan 22 target($8.0 million)-2.0% Gap$9.5 million

Financial Strength includes building a framework to assess risk: High/low cost or revenue estimate Dependencies (UMass Boston, System Office, Grant Thornton) Degree of confidence Degree of difficulty

Status of FY16 + revenue$1.0 million in state support + revenue Summer I/II fee increase + revenue dept yr-end accounts receivable - spendingvoluntary deferral of vacancies - spendingVC commitments - reduce current yr spending - identified opportunities, need for information - defer spending to FY17 - spending depreciation on University Hall

FY16 Recalibration, continued Other Questions & Suggestions