CHANCELLOR’S REPORT Faculty Senate, January 26, 2017

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Presentation transcript:

CHANCELLOR’S REPORT Faculty Senate, January 26, 2017 Chancellor Cheryl B. Schrader, Ph.D.

Announcements President-designate Mun Choi Visit Studies provided Visiting Missouri S&T Monday, Feb. 6 Open forum for faculty at 2:15 p.m. in St. Pat’s Ballroom Studies provided UM System Review Commission Missouri Department of Higher Education State budget outlook Current FY: Withholds of $146 million $82 million withheld from higher education FY18: Potential cuts of $450 million or more

Withholds to FY17 Funding Original appropriation Actual after 3% reserve Actual after Sept. 16, 2016 withholding Actual after Jan. 17, 2017 withholding Core Funding (Appropriations for GRA Base) $56,095,318 $54,412,458 $50,427,261 Clay Co. Grad Engineering Programs 1,000,000 970,000 485,000 254,051 Project Lead The Way 400,000 388,000 194,000 113,169 Cooperative engineering program with MSU 565,831 Total appropriation to campus $58,495,318 $56,740,458 $56,061,458 $51,360,312

Available Funds Estimate FY17 Revenue Estimates Millions Net revenue loss from enrollment shifts ($0.7) State appropriations held back 1-16-2017 (does not include line item withholds) ($4.0) Estimated revenue shortfall for FY17 (4.7)

Available Funds Estimate FY18 New Recurring GRA Funds Available Millions FY17 revenue loss from enrollment shifts ($0.7) Possible permanent state appropriations held back 1-16-2017 (does not include line item withholds) ($4.0) FY18 new tuition & fee revenue w/ flat enrollment with BOC approval $6.3 FY18 tuition & fee revenue adjustment for change in enrollment mix ($2.7) FY18 net tuition & fee revenue available $3.6 Mandatory items to fund (P&T, insurance, etc.) ($1.4) Net New Funds Available FY18 ($2.5)

GRA Base 1% $1.2 M 2% $2.4 M 3% $3.6 M 4% $4.8 M 5% $6.0 M General Revenue Allocation (GRA) $120 Million without utilities, insurance, etc. 1% $1.2 M 2% $2.4 M 3% $3.6 M 4% $4.8 M 5% $6.0 M

Timeline for FY18 (tentative) Jan. 30: Preliminary budget impacts due to vice chancellor for finance & administration Early February: Budget open forum Feb. 3: Governor’s budget due to General Assembly Mid-February: Cabinet reviews preliminary budget impacts Feb.-April: Campus input on budget reduction and allocation priorities (includes input from Budgetary Affairs Committee) Early April: Identify preliminary budget reductions & allocations Mid-April: Tuition & fee increase recommendations due to UM System Early May: Departments notified of budget reductions and allocations Late May: Budget finalized