Baruch Tax Levy Budget FY 17

Tax-Levy Funding Streams Tuition and Fees: primary source of funds. Prior Tuition Rate Increase: $300 annually (FY2012-2016) New Tuition Rate Increase: The NYS Executive Budget proposes restarting predictable tuition policy for additional five years (FY2018- 2022). In-State Undergraduate Tuition may be increased by up to $250 (3.95%) annually; all other prevailing rates will increase by the same 3.95%. Graduate Excellence Fees: FY 17 total projected $4.1 million. All fees allocated to divisions that earn fees. State Support: this year about 31% of total support.

Local vs. CUNY-Managed Most of the funds we get are managed locally. CUNY holds and manages funding for fringe benefit costs (F/T 51%; P/T 13%), some types of financial aid, and building rentals. In the past, CUNY managed energy funding, but now college manages $6.8 million set aside for energy. Keep any savings. Fund any overages.

FY 17 Allocations by Division As of 1/5/2017 (In Thousands)

FY16 Tax-Levy Expenditures (In Thousands)

Short-Term Strategy College Absorbed FY17 Base Budget Reduction of $2.5M with vacancy savings and CUTRA balance. (This reduction is on top of $3.8M reduction implemented by CUNY in FY16.) PSC Contract on-Going New Cost: $9M in FY17, growing to $10M in FY18 and out. In FY17, on-going contract cost increase covered by: Baselined new revenue from Fall 2015 Tuition Rate Increase + the FY16 earnings from that Fall 2015 rate increase held in reserve. In FY18, on-going contract cost increase covered by: On-going revenue from Fall 2015 Tuition Rate Increase + new revenue from Fall 2017 Tuition Rate Increase + CUTRA balance.

Short-Term Strategy (continued) Other FY17 & FY18 Cost Increases (PSC $1K signing payment, smaller settlements and mandatory needs) covered with remaining CUTRA balance.  Modest College budget reduction also likely in FY18. Support CUNY’S request and NYS Executive Budget proposal to reinstitute on-going modest tuition rate increases, and secure additional New York State funding.

Long-Term Strategy In FY19, on-going contract cost increase covered by: On-going revenue from Fall 2015 Rate Increase + on-going revenue from Fall 2017 Rate Increase + new revenue from Fall 2018 Rate Increase. Continue to refresh and expand graduate programs & grow enrollments. Monitor expenses & maintain current budget strategies. Explore alternative revenue sources. Leverage CUNYfirst data, streamline processes, and improve planning/decision making. Maintain and expand energy savings efforts.

Other Challenges Funding mandatory needs: College will have to fund internally. Aging infrastructure and deferred maintenance. Development of next Strategic Plan. CUNYfirst: continue to leverage the system to increase efficiencies and business intelligence, and fully migrate additional tasks to CUNYfirst.