University Budget Process Stability of revenue sources compared to most businesses Role of financial statement- financial accounting at one point Operational key- expenditure budget primarily for one revenue source: Education and General

How do we get revenues FBOE Governor Legislature (with proviso language) Governor (with line item veto) Revenue shortfall this year in one source- Education and General

Primary Revenue Sources Education and General Auxiliary Revenues (and Local Funds) Financial Aid Other Revenue Sources Capital Projects- revenues and budgets entirely separate

Education &General Revenues General Revenues$59,283,229 Lottery 3,504,412 Student Tuition 20,497,658 TOTAL$83,285,299

Education and General Budget Process Guidelines/priorities Requests from units to vice presidents; Prioritize requests by vice presidents to President President reviews divisional request with the responsible vice president Decision by President

Auxiliary Revenue Sources Auxiliaries are revenue earning units that support the University Mission (i.e., food service, housing, parking, University Center, Continuing Education) Also includes local funds for athletics, student government, student health/miscellaneous activities

Auxiliary Revenues Sale of Goods and Services$18,413,727 Athletics 3,121,951 Student Government 2,393,560 Student Miscellaneous 1,885,909 TOTAL$25,815,147

Budget Process for Auxiliaries Guidelines/priorities Requests from units to VPs; includes revenue estimates and proposed expenditures David Wesse, Assistant Vice President for Auxiliaries Auxiliary Oversight Committee makes recommendations to the President, including revenue estimates and proposed expenditures President decides

Financial Aid Revenues Allocations decided by externally imposed criteria Decision on individual fit to criteria by institution or other entity Includes Foundation scholarships

Financial Aid State Appropriations$ 7,096,103 Federal 10,086,931 Student Fees 1,100,000 Private Student Loans 16,569,940 UNF Foundation 697,026 TOTAL$35,550,000

Other Revenue Sources All expenditures are contractually required Estimates based on previous year’s actual revenues

Other Revenue Sources Contracts and Grants$9,390,906 Foundation 405,936 TSI 148,158 TOTAL$9,945,000

All Sources E&G Revenues$83,285,299 Auxiliaries 25,815,147 Financial Aid 35,550,000 Other Revenue Sources 9,945,000 TOTAL $154,595,446

E&G Budget President Unit $ 2,592, % Administration and Finance 19,829, % –Plant Maintenance 7,507,302 –General Administration 12,321,999 Institutional Advancement 1,821, % Student Affairs 2,285, % Academic Affairs 55,317, % Reserves 1,438, % TOTAL $83,285, %

Reserves Reserves established to cover contingencies and emergencies for all revenue sources For E&G reserves held for- potential call backs, potential enrollment shortfalls, utility cost increases, leave liabilities For Auxiliaries reserves held for- contractual requirements, leave liability, potential revenue shortfall, repair and replacement

Budgetary Controls Divisional budget officers monitor department accounts against the budget University Budget Officer and Controller monitors all balances against budget University Budget Officer and Controller monitors student enrollment Funds reserved (encumbered) to cover purchase orders and projected salary expenditures Auxiliaries submit quarterly reports on revenues to the Budget Office State auditors on campus UNF Inspector General State controller “pre-audits” expenditures for compliance before payments are made