The University’s Finances - II Spring Semester,

Primary Budget Variables Revenue ▫Pricing  Comp Fee  Discount Rate  Net Revenue per student ▫Enrollment ▫Endowment ▫Giving Expenditures ▫Salaries and Wages ▫Benefits ▫Expendables ▫Debt Service 2

Revenue Side of the Equation 3

Price Increases of the NCG 4 Median – 4%Mean – 4.2%SLU – 5%

5 Vassar$51,470 Trinity $51,400 Bates$51,300 Skidmore$51,196 Connecticut$51,115 Colgate$50,940 Middlebury$50,780 Bucknell$50,320 Hobart/William Smith$50,245 Carleton$50,205 Dickinson$50,194 St. Lawrence$49,925 Hamilton$49,860 Kenyon$49,410 Holy Cross$49,341 Gettysburg$48,500 Drew$48,385 Macalester$47,392 Denison$45,720 Muhlenberg$45,580 Wooster$44,280 Ohio Wesleyan$44,254 Allegheny$42,000 Kalamazoo$40,419 Wheaton, IL$35,496 Comprehensive Fees St. Lawrence University Ranks 13 th in the NCG

Price Increases of Admissions Overlap Group 6 Median =3.9% Mean = 4.1% SLU-5%

7 Skidmore $51,196 Colgate $50,940 Union $50,440 Colby $50,320 Hobart/WS $50,245 Dickinson $50,194 St. Lawrence $49,925 Hamilton $49,860 Admissions Overlap Group

Comprehensive Fee Discount Rate 8

NCG Estimated Comprehensive Fee Discount 9

SLU Net Comprehensive Fee Revenue/Student 10

NCG Comp Fee Revenue/Student 11

Enrollment (2 semester avg) 12 Projections Assume FY Class of 600

NCG Enrollment (FTE) 13

SLU FY to Sophomore Retention Rate 14 Reached All Time High Retention Rate this Fall

Endowment Investment Performance 15

Endowment Spending Model 16 $ in millions ActualProjected

Giving 17

Expenditure Side of the Equation 18

Salaries, Wages and Benefits - 59% of Operating Budget Salaries total $46 million Salary Policy ▫One more year of policy ▫Policy level is NCG average increase plus 1% ▫NCG Base is likely to be very small (<1%) Union Contracts ▫Contracts end June,

SLU Administrative Salaries vs. NCG 20

SLU Faculty Salaries vs. NCG Median 21

Benefits - $17M ▫Health Care - $4.2M ▫Retirement Plan - $3.7M ▫FICA - $3.2M ▫Tuition Benefits - $3.1M 22

Expendables - $27M Utilities$4.6M Food$3.2M Travel (business and athletics)$3.4M Fac & Equip maint/repair$2.4M Int’l Program payments$2.0M Print/copy/mail$1.9M 23

Debt Service OriginalInterest*Principle**Total *Includes interest rate swap**Based on original payment schedule $ in millions

Hi/Mid/Low Projection $M Total Impact 5%* % % Comprehensive Fee - Net Student Revenues $M Total Impact 37% %* % Discount Rate – Net Student Revenues *Indicates current variable value

Hi/Mid/Low Projection $M Total Impact * Enrollment – FY Class Size – Net Student Revenues $M Total Impact 9% %* % Endowment Return – Formula Income *Indicates current variable value

‘Best’ & ‘Worst Case’ – FY Best CaseBase CaseWorst Case Comp Fee Incr. Discount FY Class 5% 35% 625 5% 36% 600 3% 37% 575 Revenues Comp Fee Discount Enrollment $108.2M$107.0M Expenditures$106.0M$111.0M Net Operations$2.2M-$4.0M-$7.4M 27