Budget Model Results Fiscal Year 2011. Prior budget system featured central control and fixed budgets Current budget system is variable with decentralized.

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Presentation transcript:

Budget Model Results Fiscal Year 2011

Prior budget system featured central control and fixed budgets Current budget system is variable with decentralized decision-making Current system began in July 2005 This report summarizes results for the fifth year under the current system.

Timing of Transfers Fees – each semester Special programs – each semester Tuition – end of year Updates Provided during the year

 Revenue Targets: Undergraduate – assumed tuition up 3.9% and enrollment up 4% Graduate – assumed tuition up 2.9% and enrollment up 4.8%  Change in State Appropriations  Change in Fixed Costs Note: Fixed costs include utilities, debt service payments, maintenance contracts, business operations and insurance recharges.

ActualBudgetedDifference State Appropriations$ 20.9M$ 20.8M$ 0.1M Tuition & Fee Revenue70.7M67.6M3.1M Other Revenue0.9M0.6M0.3M Total$ 92.5M$ 89.0M$ 3.5M Total General Fund revenue above budget: $3.5M

* Includes Chancellor, Provost, Associate Provost, Vice Chancellor for Business & Finance, and Division of Student Affairs.

VCBF OfficeDave Barthelmes Financial ServicesJerry Glasco Christy Brownell Shelbie Perrin Website