University of Massachusetts Boston F&A Advisory Group Planning & Budgeting Update Dec 2014 Office of Budget & Financial Planning.

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Presentation transcript:

University of Massachusetts Boston F&A Advisory Group Planning & Budgeting Update Dec 2014 Office of Budget & Financial Planning

Planning & Budgeting Update FY15 budget Multi-year forecast Planning & budgeting new

FY15 Budget Authorization (current) ($ in millions) Compensation206.6 Other operating83.1 Total all$289.7

FY15 Requests for New Funding ($ in millions) Institutional support12.7 Infrastructure8.3 Instruction4.9 Research, graduate programs5.7 Development1.6 Enrollment growth1.2 CAPS0.5 All other3.0 Total all$37.9

Lost Lives o Constrained state funding o Heightened price sensitivity o Limited growth in federal support o Board of Trustee oversight o Focus on accountability (outcomes assessment) DreamsDreams (video clip at 2:50 – 3:45)

Multi-Yr Fcst

Infrastructure

Planning & Budgeting Capital planning Fund consolidation Reporting (Summit) Position management Multi-year planning

Planning & Budgeting

FuturePerfect Strategic forecasting UMass initiative Integrated planning (enrollment, employment, capital) Peer comparisons

Planning & Budgeting FY15 revenue/FTE (gross) In-stateOut-of-state Undergraduate13,36426,575 Graduate11,15416,950 Gross = all tuition; mandatory fees; online and other CAPS credit courses)

Planning & Budgeting FY15 revenue/FTE (net) In-stateOut-of-state Undergraduate11,66426,524 Graduate 5,68414,077 Net = gross less waivers

Strategic planning Financial & capital planning Annual budget Budget execution Outcomes Planning & Boston

Opportunities Strategic planning identify investments needed to realize our goals prioritize initiatives and timing Financial & capital planning reduce unilateral decisions (end run) prepare comprehensive proposals don’t spend a dollar twice (or more) Annual budget (should be) first slice of multi-year plan done on time Budget execution capacity to execute reallocate existing resources position management Outcomes identify outcome metrics for key investments measure and report results

Next steps Keep moving toward best practices that support our aspirations Acknowledge that change is inevitable; learn from each other Focus on the opportunities (that shiny thing in the corner of your eye)