Presentation Title | May 4, 2009 Budget & Planning Update Aug 2014 Office of Budget & Financial Planning.

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Presentation transcript:

Presentation Title | May 4, 2009 Budget & Planning Update Aug 2014 Office of Budget & Financial Planning

Presentation Title | May 4, 2009 o here and now (FY15) o the future (FY16 -18) “We are all interested in the future, for that is where you and I are going to spend the rest of our lives...”

Presentation Title | May 4, 2009 here and now 100% state support (not including collective bargaining) 100% funding for full-time, benefitted employees (state, retained tuition, GOF) 100% lab & differential fee (based on revenue) 100% ESS, gift, and development accts 50% base operating (non-personnel)

Presentation Title | May 4, 2009 here and now VCs continue to meet o requests for new funding o base reductions to meet target o recommendations to Chancellor mid-Sept

Presentation Title | May 4, 2009 here and now

Presentation Title | May 4, 2009 here and now

Presentation Title | May 4, 2009 the future ($ in millions) FY14FY15FY16FY17FY18 Revenue$346.1$373.6$397.0$420.4$440.7 Growth-$27.6$23.4$23.3 $20.3

Presentation Title | May 4, 2009 the future ($ in millions) FY14FY15FY16FY17FY18 Expense$352.6$381.6$407.0$433.9$451.3 Growth-$29.0$25.4$26.9 $17.4

Presentation Title | May 4, 2009 the future ($ in millions) FY14FY15FY16FY17FY18 Gap-$6.5-$8.0-$9.9-$13.5-$10.6 Target-$6.5-$7.0-$5.8-$ 3.0 $ 0.2

Presentation Title | May 4, 2009 how do we get there -UMass Boston will have a balanced budget by FY18 -System Office requires an operational plan, including measurable outcomes and benchmarks to monitor performance -Annual approved budget will reflect all funds and resources -Spending within executive areas cannot exceed annual budget authorization

Presentation Title | May 4, 2009 how do we get there -Current budget for full-time benefitted positions presumes turnover and vacancy savings -Priority use of reserves is -fund the operating deficit -complete the capital master plan (ISC, GAB1, GAB2, UCRR) -Subsidies for the research enterprise remain at or below current levels -Reallocate existing resources to fund high priority staffing and services

Presentation Title | May 4, 2009 Use of reserves (cumulative) FY14FY15FY16FY17FY18 Bldgs$0$5.6$18.6$21.0 Deficit$6.5$13.5$19.3$22.3$22.1 Unrestricted net assets (FY13)$91.1 million

Presentation Title | May 4, 2009 Current year expense Current yr revenue$373.6 million + Prior yr reserves7.0million = Current yr expense$380.6 million

Presentation Title | May 4, 2009 Trends in Higher Education Governance o federal regulations o Board member due diligence o focus on metrics (like student outcomes) Long-term viability Revenue Federal, state grants and contracts state funding (and allocation of UMass pool) fund raising Expense net revenue moderate cost increases (perception of cost vs benefit) Demographics o enrollment (decline of traditional-aged students) Technology o teaching and learning paradigm o internal processes and productivity

Presentation Title | May 4, 2009 Next steps Reframe the conversations Craft your solutions to support the new UMass Boston