Running One MIIS Finances and Physical Facilities

Warm-up Tuition for 2009/2010 is:  A. $15,450  B. $31,000  C. $42,450  D. $47,372

Warm-up (continued) Student FTE budgeted for 2009/10 is:  A. 820  B. 762  C. 626  D. 783

Warm-up (continued) What % of MIIS budget is covered by students (excluding Sponsored Activities)  A. 77%  B. 70%  C. 73%  D. 65%

Budget Information - Revenue BudgetProjection Revenue Tuition & Fees $ 20,398 $ 19,333 Contributions $ 6,548 $ 6,429 Other $ 5,530 $ 6,873 Total $ 32,476 $ 32,635

Revenue Pie

Budget Information - Expense BudgetProjection Pay&Benefits $ 21,657 $ 21,556 Contract labor $ 1,680 $ 1,500 Depreciation $ 906 $ 872 Interest Exp $ 1,303 $ 1,386 Utilities $ 1,244 $ 1,162 Travel $ 1,019 $ 1,080 All Other $ 4,667 $ 5,035 $ 32,476 $ 32,591

Expense Pie

Balance Sheet as of 6/08 – Assets (000’s) Cash $ 1,795 Receivables $ 4,961 Deposits $ 4,520 Notes Receivable $ 7,684 Investments $14,627 Land, Bldg & Equip $19,964 All Other $ 1,064 $54,615

Balance Sheet – June 2008 (000’s) LIABILITIES AND NET ASSETS Accounts Payable $ 3,125 Deferred Revenue $ 2,285 Refundable Gov't loan funds $ 2,481 Long Term Debt $24,689 Total Liabilities $32,580 Net Assets $22,035

MIIS

Budget Changes – 2009/10 Chart of Accounts changes to reflect reorganization  Advising, GSTILE, GSIPM (AACSB) Benefits now budgeted where salary is budgeted Detail salary listing planned (dependent on fund) Academic Excellence budget distributed by Org  Hard copy report to be distributed monthly Management responsibility partnership

Integration with Middlebury Role as Acting ED of Business and Finance Operations through July 31, 2010 Principles  What needs to be done at MIIS should be done at MIIS  Take advantage of economies of scale where appropriate  Tubs on own bottoms  Take advantage of synergies, e.g. Licenses and Fees Accreditation Reduction in reporting requirements (990 and FISAP)