Financially Sustaining the University Geoffrey S. Chatas Senior Vice President Chief Financial Officer Business and Finance October 27, 2011.

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Presentation transcript:

Financially Sustaining the University Geoffrey S. Chatas Senior Vice President Chief Financial Officer Business and Finance October 27, 2011

$5.0 Billion Budget 2 Current Budget Environment

Restricted $0.9 B Health System $2.3 B Earnings $0.4 B General Funds $1.4 B 3 Where It Comes From

Government Support$0.92 Billion Student Fees$0.92 Billion Other Resources$0.85 Billion (includes auxiliaries, dept sales, private grants, endowment & investment income) Health System$2.3 Billion Where It Comes From

How Funding Is Spent Access Maintaining financial aid for qualified students Semester Conversion Financial Stability Protecting the university’s future Enrollment, Academic Plan Focus on Enrollment Plan Move Academic Plan forward

Health System$1.9 Billion Instructional and General$1.5 Billion Instruction and Department Research - $0.89 B Academic Support - $0.15 B Student Services – $0.10 B Institutional Support - $0.20 B Plant Operations and Maintenance - $0.13 B Separately Budgeted Research$0.5 Billion OSU Physicians$0.34 Billion Auxiliaries$0.33 Billion Scholarship and Fellowship$0.24 Billion Public Service$0.13 Billion How Funding Is Spent

7 Being Innovative - Tough economic times means can’t count on increase in state support - Federal dollars flat - No multi-billion-dollar endowment Investing In Our Core

8 Remaining Competitive - Invest in academic core to attract best and brightest - Funding things we cannot do now

9 Streamlining to Simplify and Reduce Costs Enhancing Revenue Streams Evaluating Non-core Assets Rationale

10 Generated Funds = Additional Academic & Student Services & Support Rationale

11 Generated Funds… Maintain, Enhance Current Services Rationale

12 Process authorized by Board Delegated decision-making Consistent with other directives Parking RFQ

13 No decisions have been made. University-wide committee to review RFQ’s, make recommendations Parking RFQ

14 Parking Advisory Committee Parking RFQ

15 Fact-based decision Chosen respondent will offer best package - Funding - Services - Support - Experience Parking RFQ

16 Long-term lease Outside vendor Up to 50-year lease $600M+ revenue, avoided cost Parking RFQ

17 Vendors High funding threshold to be considered Solid foundation Funding ready to invest Parking RFQ

18 Midway through process RFQ ready to review RFP planned to be issued in early 2012 Implementation summer 2012 Timeline, Moving Forward

19 We Will Continue to Own Our Parking Assets Timeline, Moving Forward

20 We Do Not Have All the Answers. We Are Committed to Transparency. Timeline, Moving Forward

21 Town Hall Meetings Web Site Final Decisions Shared Timeline, Moving Forward

22 Questions? Timeline, Moving Forward