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Planning and Budget Committee November 13, 2015
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Agenda What’s the ‘real’ story? What’s the ‘real’ story? – Year-end Results Why didn't we know? Why didn't we know? – July 2014 position Where did the money go? Where did the money go? - Breakdown of expenditures Why did you take my money? - Why did you take my money? -Impacts of multiple years of deficits. – 15% Sequestration – Sweeping of Reserves Why this year? Why this year?
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Year End Results FY 15 versus FY14
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Continuing Annual Budget Commitments Continuing Annual Budget Commitments Continuing Sources of Funding Comparing Operating Revenues FY 08 – FY16 Endowment, Investment, Indirect Cost, etc. FY 08 State Appropriations 47% FY 08 State Appropriations 47% FY 16 State Appropriations 26% FY 16 State Appropriations 26% FY 08 Tuition/Fees 32% FY 08 Tuition/Fees 32% FY 16 Tuition/Fees 49% FY 16 Tuition/Fees 49% FY 08 Other Income 21% FY 08 Other Income 21% FY 16 Other Income 25% FY 16 Other Income 25%
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FY 2015 as of 07/31/2015
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Five Years of Results
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Total Annual Budget Total Annual Budget Comparing Total Budgets FY 08 – FY16 FY 08 Operating 76% FY 08 Operating 76% FY 16 Operating 69% FY 16 Operating 69% FY 08 Restricted 17% FY 08 Restricted 17% FY 16 Restricted 19% FY 16 Restricted 19% FY 08 Auxiliary 7% FY 08 Auxiliary 7% FY 16 Auxiliary 12% FY 16 Auxiliary 12%
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Total Operating Budgets $69 M Total Operating Budgets $69 M Operating Budgets FY16 Personnel $47.2 M 68.2% Personnel $47.2 M 68.2% O&M $21.9 M 31.8% O&M $21.9 M 31.8% Fixed Salaries, Wages and Benefits $46 M, 97.5% Fixed Salaries, Wages and Benefits $46 M, 97.5% Part-time Wages 1.2 M, 2.5% Fixed O&M $8.3 M, 38% Fixed O&M $8.3 M, 38% Scholarships $5.4 M, 25% Scholarships $5.4 M, 25% Other O&M $8.2 M, 37% Other O&M $8.2 M, 37%
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Available to Sequester Part-Time Wages $9,371,153 Other Operating Total Sequester @ 15%$1,405,673 Total Deficit FY 14($1,417,939)
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History of Cash and Reserves
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Reserves Before Base Budget$ 7,919,558 Self-Supporting$ 5,069,524 IDC $ 736,583 Matching Funds$ 196,573 TOTAL$13,922,238
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Reserves After Base Budget$ 746,714 Self-Supporting$5,069,524 IDC $ 736,583 Matching Funds$ 196,573 One-Time Suppl$ 694,000 TOTAL$7,443,394
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BANNER Verification of Cash Balance
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Why this Year? FY 15 fourth year of deficits – cumulative deficit total of $8,398,402. Since FY 11 – Revenue has increased 5.7% or $3,746163. Expenditures have increased 18.3% or $10,899,976. Revenue went down from FY 14 to FY 15 by approximately $400,000. Currently have cash to cover only 54% of the total reserves.
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FY 16 Budget
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So….What Does This Mean? Continue to add programs that will attract students Continue our planned marketing and recruiting efforts Continue retention efforts
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Questions?
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