COUNCIL OF TRUSTEES MEETING September 26, 2013. A. Major Budget Assumptions B. Revenue Projections C. Expenditure Projections D. Balanced Budget E. Reductions.

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Presentation transcript:

COUNCIL OF TRUSTEES MEETING September 26, 2013

A. Major Budget Assumptions B. Revenue Projections C. Expenditure Projections D. Balanced Budget E. Reductions Taken F. Current Budget G. Total Budget

Original BUDRPT Interim BUDRPTPreliminaryProposed Tuition Rate0%3.0% Enrollment1.0%-1.0%-5.0%-2.8 State Appropriations Flat Actual Salaries0.8%1.8%2.7%3.3% Healthcare8.2%8.4%4.8% Retirement17.5% 17.8%15.0% Utilities1.7%-8.8% 3.9%

Original BUDRPT Interim BUDRPTPreliminaryProposed Tuition & Fees $72,488,751$71,440,591$70,251,231$70,237,023 State Appropriation 19,282,933 19,435,970 Performance Funding 1,523,802 1,724,965 Grants & Contracts 377, ,000 Contributions & Gifts 1,072,7551,066,778690,000 Camps/Confs/Programs 1,591,857 2,041,543 Investment Income 459,760492,057503,264514,167 Miscellaneous 169,510250,403336,000389,861 Total Revenue$96,966,398$96,025,451$95,182,773$95,587,529

Original BUDRPT Interim BUDRPTPreliminaryProposed AFSCME Salaries$6,223,404$6,419,121$6,822,865$6,767,314 APSCUF (Faculty) Salaries24,396,76026,201,59825,199,27524,598,235 Summer School Pay2,289,4792,709,336 1,824,019 Other Faculty Pay1,912,2112,148,0762,409,0982,665,081 Non-Represented Salaries 6,690,9776,842,5536,957,1746,599,531 SCUPA Salaries1,325,5081,395,6271,555,1381,627,511 SPFPA, OPEIU, Coaches Salaries1,794,3541,868,9341,794,4701,853,049 Student Employment1,579,8161,581,9961,573,1601,545,937 Wages/Leave Payout & Other 1,531,3901,557,4761,417,7251,456,541 Total Compensation$47,743,899$50,724,717$50,438,241$48,937,218

Original BUDRPT Interim BUDRPTPreliminaryProposed Healthcare $10,749,265$10,779,545$11,318,512$11,008,595 Retirement 5,052,1975,362,5905,106,4694,928,733 Social Security 3,331,0833,549,8693,717,8363,582,568 Tuition Waivers 869,561803,420887,009 Workers’ & Unemployment Comp 684,083662,912662,913704,097 Other Benefits 76,856 *120,455*76,436 Total Benefits $20,763,045$21,235,192$21,813,194$21,187,438 * Change is due to a reclassification to compensation

Original BUDRPT Interim BUDRPTPreliminaryProposed Departmental $7,474,983 $7,583,850$6,486,384 Utilities 2,348,3872,107,561 1,600,438 Student Aid 1,799,040 2,042,2122,569,121 Fund Raising & Alumni Engagement 1,900,000 2,100,000 Camps/Confs/Programs 1,289,848 PASSHE Chargebacks 2,043,993 1,819,1392,130,442 Other Expenses (shuttle, telephone, postage, etc.) 2,508,0102,395,3463,087,8862,939,721 Total Expenditures $19,364,261$19,010,771$20,030,496$19,115,954

Original BUDRPT Interim BUDRPTPreliminaryProposed Capital$423,010 *$538,269*$100,000 Transfers7,090,100 5,562,0591,886,856 Debt Service4,339,2624,360,063 Total$11,852,372$11,873,173$10,460,391$6,346,919 * Change due to reclassification of electronic library books & periodicals to operating budget

DescriptionAmount Operating Reductions: Salaries & Benefits (Vacant Positions)$710,630 VRIP replaces using Overload1,045,058 Salaries & Benefits (Adjunct Reduction)372,056 Salaries & Benefits (Provost Non-Rep Reduction)341,465 20% Reduction in Departmental Operating Budgets1,450,734 Student Aid (international student waivers)46,236 Other Operating Reductions215,458 Total Operating Reductions (Base)$4,181,637 Reserve Reductions (One-Time) $1,302,806 Carryforward (One-Time) $1,710,886 Total Proposed Deficit Reductions $7,195,329

Original BUDRPT Interim BUDRPTPreliminaryProposed Tuition & Fees $72,488,751$71,440,591$70,251,231$70,237,023 State Appropriation 20,806,735 21,160,935 Other Income 3,670,9123,778,1254,124,8074,189,571 Total Revenue$96,966,398$96,025,451$95,182,773$95,587,529 Salaries & Benefits$68,506,944$71,959,909$72,251,435$70,124,656 Non-Compensation31,216,63330,883,94430,490,88727,173,759 Carryforward000(1,710,886) Total Expenditures$99,723,577$102,843,853$102,742,322$95,587,529 Balance$(2,757,179)$(6,818,402)$(7,559,549)$0

Original BUDRPT Interim BUDRPTPreliminaryProposed Total Revenue $96,966,398$96,025,451$95,182,773$95,587,529 Total Expenditures 99,723,577102,843,853102,742,32295,587,529 Surplus/(Deficit) $(2,757,179)$(6,818,402)$(7,559,549)$0

FundAmount E&G $ 95,587,529 Auxiliary 18,961,471 Restricted 14,563,936 Total $129,112,936