FY 2011-FY2015 Budget Comparison And 5 Year Projection 1 Office of Finance.

Slides:



Advertisements
Similar presentations
Operating Budget Overview Presented to the Tuition and Fee Committee November 13, 2009 Presented to the Tuition and Fee Committee November 13, 2009.
Advertisements

Faculty Convocation February 11, Financial Status
UW-Platteville Financial Overview October/November 2014 Robert Cramer - Vice Chancellor Financial Services 1.
Business Plan Update Medical Center July CEC Presentation.
UW-Platteville Financial Overview October/November 2013 Robert Cramer - Vice Chancellor Cathy Riedl-Farrey - Director, Financial Services 1.
Financial Review Year Ended June 30, Plante/Moran Audit Results of the Audit Presented to the Finance and Audit Committee on October 6 Unmodified.
Overview of UTSA’s Discretionary Budget Presented by: Mary Simon Sr. Director Budget and Planning Development.
The University’s Finances Spring Term, University’s Finances Sources of FundsUses of Funds Tuition, Room and Board Endowment Spending Gifts Grants.
FY11 Budget Snapshot budget.missouri.edu. MU Funding Sources Fiscal Year 2011 General Operating Funds $488,385, % Designated Fees 63,968, %
Financial Overview and Budget Recommendations David Cummins Vice President for Finance and Administration/CFO Mike Sherman Senior Vice President and Provost;
6/10/2015 Mizzou Budget 1001 budget.missouri.edu.
1 State Budget and its Impacts on Mines Faculty Conference August 23, 2010 Kirsten M. Volpi, CPA Senior Vice President for Finance and Administration.
Mott Community College Board of Trustees Committee of the Whole Meeting June 28, 2010 BUDGET RESOLUTIONS.
Northern Arizona University University Budget Office.
 The first reading of the budget is to be approved and then placed on display.  The budget will be put on display on the website, and in the main office.
FY Budget Documents Executive Summary Approval of Tuition & Fees Schedule Recurring Reduction Implementation Plan Narratives Revenue Summary Expenditure.
Messiah College FY13 Financial Plan FY13 ParametersJanuary 4, 2012.
The University of Toledo FY 2016 Consolidated Budget Draft-4/14/2015.
The Financing of Illinois K-12 Education Dr. Michael Jacoby Executive Director, Illinois ASBO Chair, Illinois Education Roundtable.
Budget Workshop Fiscal Year 2011 December 4, 2009.
Fiscal Strength Finding the balance at UMass Boston.
W & I Key Statistics July 2013 Inpatient:ActualBudgetFav/(Unfav) Variance % Variance Fav/(Unfav) Deliveries % Discharges1,7601, % Patient.
TOWN OF SWAMPSCOTT FINANCIAL FORECAST FISCAL YEARS 2014 – 2018 Tom Younger Town Administrator November 28, 2012.
CLARION UNIVERSITYCLARION UNIVERSITY FINANCIAL UPDATE ANDFINANCIAL UPDATE AND FY 2016 BUDGET REVIEWFY 2016 BUDGET REVIEW COUNCIL OF TRUSTEESCOUNCIL OF.
Financial impact of MEA contract What the city finance officer and school business administrator really said about the projected costs.
PENNSYLVANIA STATE SYSTEM OF HIGHER EDUCATION. Spring 2014 Adjustments Board of Governors’ Meeting April 9, 2014 PASSHE Budget Update.
The University of Texas at San Antonio FY 09 Annual Financial Report Highlights January, 2010.
COCONINO COMMUNITY COLLEGE BUDGETING 101 History & Evolution of CCC Financial Overview Revenue Sources Expenditures Coconino Community College Fall 2013.
Care New England Health System Statement of Operations Month of April 2013 Variance Actual Budget Fav/(Unfav) Total Revenue $ 73,343,523 $ 72,935,597 $
The University of Texas at San Antonio FY 08 Annual Financial Report Highlights January, 2009.
HEARTLAND COMMUNITY COLLEGE FINANCIAL UPDATE OCTOBER 16, 2009.
FY2015 Supplemental Operating Budget FY2015 Operating Budget Board of Trustees Meeting – June 27,
SAN JACINTO COLLEGE DISTRICT BUDGET HEARING AUGUST 3, 2009 PROPOSED BUDGET
Planning and Budget Committee January 16, Agenda Current Financial Position Revenue and Expenditure Comparisons FY08 to FY14 Simplified Budget Process.
Operating Budget Funding Sources State Appropriations - General Revenue Formula Funding, Special Items, Benefit Cost Sharing THECB Transfers TX Grant,
Natividad Medical Center Board of Trustees February 1, 2013 Financial Statements For December 31,
HOTEL LIFE CYCLE. Hotel Lifecycle YearsOccupancy & Income 0 – 2Introduction to market 2 – 4Occupancy rises slowly 4 – 5Gradual increases in income 5 –
UBC report to Faculty Senate January 25, 2011 Sources of information: ECU annual financial reports:
May 14, 2013 Dr. Phyllis A. Edwards, Superintendent City Schools of Decatur will be one of the top community school systems in the nation.
FY2015 Annual Financial Report Operating Statement (SRECNP) Highlights January 2016.
UW-Platteville Financial Overview November 2015 Robert Cramer - Vice Chancellor 1.
FIVE YEAR FINANCIAL FORECAST OCTOBER Cleveland Municipal School District.
GENERAL FUND BUDGET PRESENTATION FISCAL YEAR April 22, 2014 John T. Scully Business Administrator.
The value equation for family medicine training programs Judith Pauwels, MD University of Washington WWAMI Network.
City and County of San Francisco 1 Five Year Financial Plan Update FY through FY Joint Report by the Controller’s Office, Mayor’s Budget.
FY2007 Budget Presentation Annual Town Meeting April 24, 2006.
Thornton Township High School District 205 Presentation of Final Budget Preparing Today for the Challenges of Tomorrow September
State Higher Education Finance Fiscal Overview.
MCSD 5-YEAR FORECAST PRESENTED MAY 19, 2016 BY RANDY BERTRAM, TREASURER BOARD APPROVAL MAY 23, 2016.
Bowie State University Budget Overview.
Budget Forum 6:30 P.M., May 25, 2017.
BUDGET PROPOSAL Education & General Fund Fiscal Year
Texas Woman’s University Fiscal Year 2017 Budget
Proposed Budget Budget Hearing August 15, 2016.
City of Sisters, OR 2017 Water & Sewer Rate Study
San Jacinto College District Budget Hearing August 3, 2009
FY 2016 Annual Financial Report Operating Statement Highlights
Open Budget Meeting October 19, 2016.
President’s Leadership Council Budget Update
Long Range Planning Model Finance and Audit Committee
The Size of Campus – Considerations and Analyses
BUDGET PROPOSAL Education & General Fund Fiscal Year
BUDGET PROPOSAL Education & General Fund Fiscal Year
University of Oregon Financial Briefing
BUDGET PROPOSAL Education & General Fund Fiscal Year
Mechanicsburg Area School District
Preliminary Proposed Budget April 26, 2016
FY 2018/19 Recommended Budget Town of Manchester, Connecticut
budgets Changed date to 4th Monday in June
Campus Financial Status
Presentation transcript:

FY 2011-FY2015 Budget Comparison And 5 Year Projection 1 Office of Finance

FY 2011-FY 2015 Historical Look back 2 Fiscal Years 2011 through 2015 have been tumultuous in Higher Ed For UT that is defined by a decline in enrollment of 12%- $26M State Share of Instruction Subsidy decline of 13%- $17M Sales and Service Revenue decline of 16% (housing, meal plans, athletics)- $13M Rising healthcare/benefit costs- $3M These factors had a Total Impact of $60M in reduced Income Management has mitigated this impact and maintained a positive cash flow by Increasing tuition and fees Reducing interest expense: refinancing debt Reduction in FTE’s; salaries Reducing Capital Expenditures Non-Salary expenses

FY 2011-FY 2015 Budget Comparison 3 $23.5M Decline in Operating Revenue- 4.5% Decline in enrollment (offset by tuition/fee increases) State Share of Instruction/State Appropriations decline Sales and Service Revenue decline Other Revenue decline

FY 2011-FY 2015 Budget Comparison 4 Increase in Expenditures of $943K-.2% Salaries decreased due to 7.7% decrease in FTE’s Benefit costs increased (healthcare and tuition waivers) Reduced Non-Salary (Operating Expense) Depreciation expenditures increased

FY 2010-FY 2015 Budget Comparison 5

Items Negatively Affecting Financial condition during this time period and Managements’ response 6 *FY2013 student bookstore moved to UT Foundation

FY 2016 Budget Development 7 FY2016 Adjusted Budget reflects FY2015 Fall Enrollment Decline and a 3% Increase in both Undergrad Enrollment and Tuition and Fees

FY 2016 Budget Development 8

9 * Assumes fully funded depreciation *

5 Year Forecast-FY2016-FY2020 3% Enrollment and Related Services 10 Increase in Expenses in FY2017- FY2020 Annual Salary Increase of 2%- $4.6M annually Annual Benefit Costs Increase of 2%-$1.8M annually Inflation of 2%-Increases in Operational costs-$2.2M annually Depreciation annual Increase of $2.2M Decrease in Principal & Interest on Debt -$200k annually Total Increased Expenses $42.7M

5 Year Forecast-FY2016-FY2020 3% Enrollment and Related Services 11 Management Actions in FY2016-FY2020 3% Annual Increase of Tuition/Fees (undergrad)-$4.6M Average/annually 3% Annual Net Increase in Enrollment & Related Services (undergrad)-$5.4M Average/annually Reduce Capital Spend to 52% funded depreciation in 2016 to 83% in 2020 Faculty Retirement Savings-$1M Increase Auxiliary Margin- $1M Additional Management Actions $48.3M Increase in Tuition/Fees and Enrollment for 2016 are included in 2016’s Adjusted Budget of $-36M

5 Year Forecast-FY2016-FY2020 3% Enrollment and Related Services 12

5 Year Forecast-FY2016-FY2020 3% Enrollment and Related Services 13 * Gradually increasing capital spend towards fully funding depreciation

5 Year Forecast-FY2016-FY2020 Flat Enrollment 14 Increase in Expenses in FY2017- FY2020 Annual Salary Increase of 2%- $4.6M annually Annual Benefit Costs Increase of 2%-$1.8M annually Inflation of 2%-Increases in Operational costs-$2.2M annually Depreciation annual Increase of $2.2M Decrease in Principal & Interest on Debt -$200k annually Total Increased Expenses $42.7M

5 Year Forecast-FY2016-FY2020 Flat Enrollment (000’s) 15 Management Actions in FY2016-FY2020 3% Annual Increase in Tuition/Fees (undergrad)-$4.6M Avg./annually Increase Enrollment and Related Services by 3% in FY2016, Flat FY Reduce Capital Spend to 52% funded depreciation in 2016 to 83% in 2020 Faculty Retirement Savings-$1M Increase Auxiliary Margin- $1M Additional Management Actions $29M Increase in Tuition/Fees and Enrollment for 2016 are included in 2016’s Adjusted Budget of $-36M

5 Year Forecast-FY2016-FY2020 Flat Enrollment 16

5 Year Forecast-FY2016-FY2020 Flat Enrollment 17 * Gradually increasing capital spend towards fully funding depreciation

FY 2011-FY 2015 Budget Comparison 18 $18.5M or 6.9% increase in Operating Revenue Growth in Cancer Treatment Growth in Emergency Room visits Growth in Clinic volume (new locations) Growth in Kidney Transplants, Vascular Surgery, GI, Interventional Neurology, LVAD (Heart), Pain Services, Wound services, Rehab Services, Behavioral Health, etc.. Improved contracts with commercial payers Increased complexity of inpatients, CMI went from to CMI: a relative value assigned to a diagnosis-related group of patients in a medical care environment. The CMI value is used in determining the allocation of resources for the care and/or treat of patients.

FY 2011-FY 2015 Budget Comparison 19

FY 2011-FY 2015 Budget Comparison 20 Increase in Expenditures of $14.6M or 5.5%. Salary Expenses increased on average 2.5% annually due staffing increases (i.e., New Clinics and Cancer Treatment) and wage increases. Benefit costs increased (healthcare and tuition waivers) Increase in supply costs, kidney acquisition, pharmaceutical sales. Depreciation expenditures increased Purchased Services increased related to software and equipment maintenance.

FY 2010-FY 2015 Budget Comparison 21 * Does not include Capital Expenditures funded from Bond Debt *