Board of Regents FY President s Executive Team

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2 Table of Contents Table of Contents 1 NKU Board of Regents and Executive Team 2 Acknowledgements 3 Presidential Recommendation to the Board of Regents 4 Summary of FY Unrestricted Revenues and Expenditures 5 Budget Context 6 Sources of Funds 7 Total Public Funds (Tuition and Fees Plus State Appropriation Regular) 9 Other Centrally Distributed Revenues 11 Net Assets (University Fund Balance) 11 Dedicated Revenues 12 Uses of Funds 13 Budget Reallocations 13 Essential Expenditures and Notable Investments in Strategic Priorities 13 Breakdown of Expenditures 18 Academic Affairs Expenditure Budget 21 Administration and Finance Expenditure Budget 29 General Administration Expenditure Budget 30 Institutional Expense Expenditure Budget 31 Planning, Policy, and Budget Expenditure Budget 32 Student Affairs Expenditure Budget 33 University Advancement Expenditure Budget 34 Research Foundation 35 1

3 NKU BOARD OF REGENTS AND EXECUTIVE TEAM Board of Regents FY Nancy A. Barone, Chair Terry L. Mann, Vice Chair Dennis Repenning, Secretary Eric M. Brose Charles H. Brown Martin C. Butler Charles E. Hawkins Kevin Golden Nathaniel G. Smith Elizabeth L. Thompson Brenda L. Wilson President s Executive Team James C. Votruba President Katie Herschede Executive Assistant to the President for Special Projects/ Secretary to the Board of Regents Sue Hodges Moore Vice President for Planning, Policy, and Budget Kenneth H. Ramey Vice President for Administration and Finance/Treasurer Lisa Rhine Interim Vice President for Student Affairs Sara L. Sidebottom Vice President for Legal Affairs and General Counsel Gerard A. St. Amand Vice President for University Advancement Gail W. Wells Vice President for Academic Affairs and Provost Joseph E. Wind Vice President for Government and Community Relations 2

4 ACKNOWLEDGEMENTS Budget Office Kenneth Kline, Budget Director Angela Schaffer, Associate Budget Director Kim Schave, Budget Analyst Mayme Chow, Coordinator This publication was prepared by Northern Kentucky University and printed with state funds (KRS ). Equal Education and Employment Opportunities M/F/D 3

5 PRESIDENTIAL RECOMMENDATION TO THE BOARD OF REGENTS RECOMMENDATION: Presidential Recommendation: C-12 That the Board of Regents approve the following resolution establishing and approving the Fiscal Year Unrestricted Current Fund Operating Budget for Northern Kentucky University. Recommendation relating to Fiscal Year Budget, Northern Kentucky University, Board of Regents, May 4, 2011: Be it resolved that, upon due consideration of the recommendation of the President, the Unrestricted Current Fund Budget for Northern Kentucky University is hereby established and approved in an amount totaling $214,000,000 for the fiscal year beginning July 1, 2011, and ending June 30, 2012, subject to the realization and receipt of revenue and use of fund balance totaling a like amount. Included in the $214,000,000 is $49,744,400 in Regular State Appropriation (includes Debt Service) appropriated during the 2011 Special Legislative Session. Acting in the capacity of chief executive officer of the University and on behalf of the Board of Regents, the President shall have printed the detailed budget of the University embodying this authorization and indicating the various budgets of individual units and the subsidiary expenditure categories. In addition, the President is authorized to approve adjustments between the budget authorizations when such action appears, in his judgment, to represent the best interests of the University. However, any adjustment which alters the unrestricted current fund budget authorization of $214,000,000 shall be submitted to this Board for approval at its next regular meeting. In the event that projected current fund revenue is not sufficient to equal authorized unrestricted current fund expenditures, the President shall take appropriate measures to reduce budgeted expenditure authorizations by amounts sufficient to insure that unrestricted current fund expenditures do not exceed available revenue. The President is authorized to allocate and expend University net assets for such purposes deemed to be in the best interest of the University and necessary to support, protect, maintain or enhance the functioning of the University and its physical environs. The President shall report such expenditure authorizations to the Board periodically. In the incurrence of financial obligations and the expenditure and disbursement of University funds available under this authorization, all University units and University personnel or agents shall adhere to and observe applicable laws, regulations, and policies of both the Commonwealth of Kentucky and the University, which govern and control the expenditure of funds. Administrators of the various units shall not authorize nor incur any financial obligation in excess of the budget authorizations. 4

6 SUMMARY OF FY UNRESTRICTED REVENUES AND EXPENDITURES Sources of Funds FY 2011/12 Percent of Total Governmental Appropriation Regular $ 49,068, % Governmental Appropriation Debt Service 675, % Tuition 131,690, % Other Fees 666, % Sales and Service of Auxiliary Enterprises 13,235, % Sales and Service of Educational Activities 4,121, % Other Sources 7,108, % Net Assets 7,432, % Total Revenues $ 214,000, % Expenditures by Major Object FY 2011/12 Percent of Total Personnel $ 96,450, % Benefits 30,547, % Operating 45,080, % Capital 4,997, % Utilities 7,364, % Student Financial Aid Reserves 13,082,200 6,705, % 3.13% Transfers (Debt Service) 9,425, % Transfers (Other) 346, % Total Expenditures $ 214,000, % Expenditures by Major Function FY 2011/12 Percent of Total Education and General Instruction $ 75,667, % Research 186, % Public Service 7,248, % Libraries 6,266, % Academic Support 24,257, % Student Services 18,619, % Institutional Support 31,525, % Operation & Maintenance of Plant 19,329, % Student Financial Aid 12,913, % Mandatory Transfers 3,480, % Non-Mandatory Transfers 1,269, % Total Education and General 200,764, % Auxiliary Enterprises Student Services $ 7,018, % Student Financial Aid 168, % Transfers 6,048, % Total Auxiliary Enterprises $ 13,235, % Total Expenditures $ 214,000, % 5

7 Budget Highlights and Analysis BUDGET CONTEXT The FY Budget is the outcome of a collaborative process guided by both the university s Business Plan It s All About Talent and the university s Strategic Agenda The Talent Imperative! (these documents can be found at The Business Plan details our plan to achieve the statewide 2020 Public Agenda and support Northern Kentucky Vision 2015 goals. However, continuing cuts in state appropriations as well as limits on tuition increases have constrained progress on both our Business Plan and our Strategic Agenda. Our shortfall in budgeted total public funds (tuition plus regular state appropriations) based on projected need in the Business Plan for FY12 equals $10 million. Given the financial environment the university has faced the past several years, we have aggressively managed our resources to continue to progress toward our long-term goals. Since FY , we have reallocated nearly $15 million to fund both essential expenditures and strategic initiatives. This past year we engaged Huron Consulting Group in a major effort to examine if we can better serve our students in a more efficient and cost effective manner. Major investments include creation of a College of Health Professions, the opening of Griffin Hall, a new Student Union, the Bank of Kentucky Center, investments to increase student retention, and upgrades to our technology systems. During this time, we completed our SACS re-accreditation process as well as implemented a new SAP financial, human resources, and campus management system. We anticipate receiving positive financial results in the future as we leverage our new SAP system to increase efficiencies while improving performance. Finally, we continue to strengthen our alignment of planning, assessment, improvement, and investment at all levels. As we consider our long-term goals, the university recognizes that substantial changes are necessary if we are to achieve these goals. We do not anticipate significant increases in state funds in the near future. Current projections indicate state revenues will not return to FY08 nominal levels until at least FY14. However, looking past FY14, increasing demands on state funds from Medicaid, pension obligations, and debt obligations will likely mean continued depressed levels of discretionary funds available. Given this assumption, we continue to focus on our long-term strategy for financial stability and engage in budget restructuring to reallocate funds in areas vital to our future. 6

8 Budget Highlights and Analysis SOURCES OF FUNDS The university s annual budget contains projected revenues and planned expenditure of fund balance for all university funding sources with the exception of State funded capital projects, the NKU Research Foundation (affiliated corporation), and the NKU Foundation (unaffiliated corporation). From a central budgeting perspective, expenditures from each of these sources of revenue are budgeted through a separate process. However, the university takes an all-funds approach to expenditure budgets at the unit level. Each Vice President allocates funds amongst units in their area considering all sources of revenue available to a unit. This approach continues at each level of the organization, i.e. a Dean will allocate expenditure budgets to each academic department considering all sources of funds available to each academic department. 7

9 Budget Highlights and Analysis For the FY Budget, total sources of funds are planned to increase by $16 million over FY Revenues by Source Sale and Services of Auxiliary Enterprises 6.18% Other Sources 3.32% Net Assets 3.47% Governmental Appropriation- Regular 22.93% Sale and Services of Educational Activities 1.93% Other Fees 0.31% Governmental Appropriation-Debt Service 0.32% Tuition 61.54% 8

10 Budget Highlights and Analysis TOTAL PUBLIC FUNDS (TUITION AND FEES PLUS STATE APPROPRIATION REGULAR) Tuition continues to remain the university s primary revenue source. Resident undergraduate tuition rates are increasing 5% for AY Tuition revenue is projected to increase $10.6 million over the prior fiscal year. The Campus Recreation Fee established this year is projected to generate $1.7 million for the fiscal year. The university has become significantly less reliant on state funds to operate the institution over the past nine years. In FY , regular state appropriation comprised 45% of our total public funds. For the FY budget, regular state appropriations will account for just 28% of our total public funding. As illustrated in the graph below, the university is currently receiving less state funds per FTE student than at any other time in the past ten years on an inflation adjusted basis. Tuition and Regular State Appropriation per FTE Inflation Adjusted* 16,000 14,000 Revenue per FTE ($) 12,000 10,000 8,000 6,000 4,000 Tuition per FTE SA per FTE 2,000 0 * HECA Inflation Adjusted, 2009 base year, Fall FTE figures used for calculations 9

11 Budget Highlights and Analysis 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 5% 54% 41% Tuition Revenue and SA as a % of Budget (excluding SA Debt Service and Auxiliaries) State Appropriation Tuition Revenue Other Sources FY02-03 FY03-04 FY04-05 FY05-06 FY06-07 FY07-08 FY08-09 FY09-10 FY10-11 Bud 66% 25% FY11-12 Rev Bud As state appropriations continue to become a much smaller percentage of our overall budget, the university continues to seek other sources of revenue. Over the past nine years, other sources of revenue have grown from 5% to 9% of our annual budget. However, in many cases, the use of this revenue is restricted and cannot be used to fund general operations. In addition, the activities necessary to acquire this revenue often have costs associated with them, such as operating the Bank of Kentucky Center. 10

12 Budget Highlights and Analysis OTHER CENTRALLY DISTRIBUTED REVENUES Other Central Revenues total $2.3M and represent 1% of the FY annual budget. These revenues include all other unrestricted revenue sources that are controlled centrally such as: Other Centrally Distributed Revenues 2.3M Investment Earnings Flex Payment Plan Revenues Application Fees Credit Card Fees Registration Fees Administrative Cost Reimbursement from Federal Financial Aid programs These revenues are budgeted as central sources of revenue to expenditure units throughout the university. For FY , other central revenues are budgeted to increase by $194K over budgeted FY Net Assets 7.4M NET ASSETS (UNIVERSITY FUND BALANCE) The FY budgeted university fund balance allocation plus state allocated federal stimulus funds supports $7.4M in budgeted nonrecurring expenditures. Net Assets represent 3% of the FY Budget. 11

13 Budget Highlights and Analysis DEDICATED REVENUES Dedicated revenues consist of university dedicated revenues as determined by university policies, auxiliary revenues, and state appropriation debt service. For FY , dedicated revenues account for 12% of our operating budget. Dedicated Revenues 23.5M UNIVERSITY DEDICATED REVENUES = $9.2M Revenues collected for specific purposes and budgeted directly into units such as: Course Fees for consumables, software, etc. Optional Service Fees and User Fees Revenue units such as the Bank of Kentucky Center, Center for Applied Ecology, Parking Services, Summer Camps, and Music Fees AUXILIARY REVENUES = $13.6M Auxiliary revenues can only be spent on auxiliary operations and are generated through bookstore, food service, vending, and residential operations. STATE APPROPRIATION DEBT SERVICE = $675.5K State Appropriation Debt Service accounts for debt service on state funded capital projects. 12

14 Budget Highlights and Analysis BUDGET REALLOCATIONS USES OF FUNDS The university engaged in a budgetary restructuring exercise during the fiscal year with a target of capturing $5 million for reallocation to high priority areas. In total, the university identified $5.3 million in total funds in the following areas: Reduced administrative infrastructure: $800,000 Contained administrative and procurement related costs: $2,450,000 Increasing central revenue generation: $1,700,000 Increased academic productivity: $350,000 ESSENTIAL EXPENDITURES AND NOTABLE INVESTMENTS IN STRATEGIC PRIORITIES Faculty Excellence Fund = $350,000 Recurring funding is provided for compensation increases intended to better retain high performing faculty. Information Technology = $1,216,000 $1,141,000 in recurring funding and $75,000 in non-recurring funding is provided for the university s disaster recovery initiative, enhancements to IT security, technology costs for Griffin Hall, two positions in support of Griffin Hall (in addition to positions added during FY 2011), and an increase of $100K for instructional software. Increase in scholarships = $527,956 Increased funding is provided for institutional scholarships and waivers. In addition, the university has committed to funding the Northern Difference Grant and the KCTCS Transfer Scholarship program this fiscal year regardless of the number of students who qualify. This $527,956 investment excludes budgeted increases in expenses for the faculty and staff tuition benefit programs. ERP continuing operations and expenses = $427,467 $427,467 in new recurring funding is provided to support information technology expenses related to continuing operations for the SAP ERP system. Online programs and courses = $500,000 Non-recurring funds are provided in support of expansion of on-line programs and courses. This is the final year of a two year commitment. 13

15 Budget Highlights and Analysis Quality Enhancement Plan (QEP) = $20,150 Non-recurring funds are provided in support of the university s Quality Enhancement Plan. Advising Investment Pool = $600,000 Recurring funds are provided for improving advising to students. Funds of $569,800 will be used for establishing eight professional advisors, a director of advising, 14 peer advisors, an administrative secretary, and the balance will be allocated for general operating expenses. Registrar and Financial Aid Positions = $56,250 Recurring funds are provided for a position in the Registrar s office and the conversion of a part-time position in Financial Assistance to full-time. Smart Classrooms = $620,000 Recurring and non-recurring funds are provided for supporting and renovating smart classrooms. Recurring funds of $90,000 have been budgeted for an additional staff position, $30,000 for student labor and $30,000 for classroom maintenance and repair. Non-recurring funds of $470,000 has been provided for smart classroom renovation/replacement. This one-time funding is provided to cover two years of the renovation/replacement request, which equates to sufficient funding for 120 rooms. System Engineering = $192,500 Recurring funding is reserved for starting a Systems Engineering program. Additional funds will be required to proceed with the addition of this program. Snow and Ice Removal Equipment = $98,997 Non-recurring funds are provided to purchase snow and ice removal equipment. Collections Coordinator = $45,900 Recurring funding is provided to hire a collections coordinator to work primarily with the Kentucky Department of Revenue on the collection process. 14

16 Budget Highlights and Analysis Griffin Hall = $1,329,000 Recurring funding is provided for operating and maintenance expenses for Griffin. These funds will be used for positions, operating dollars and utilities associated with the building. Deferred Maintenance = $2,803,500 Non-recurring funding is provided for addressing deferred maintenance on campus. Classroom Renovations = $1,500,000 Non-recurring funding is provided for classroom renovation projects and to cover expenses for the College of Business move to the AS&T building and associated costs. Lighting and road work projects = $1,400,000 Non-recurring funds from the sale of land for the John s Hill road project will be used for a bike path to Callahan Hall and for required street lighting for the connector road. Testing and Disability Services = $46,077 Funding in the amount of $32,337 for salary and $13,740 for benefits is provided to fund a Coordinator Testing Services position in order to maintain Federal and State compliance, meet increased demands for services, and offset decreased State support for services. Career Placement and Employment Reporting = $70,343 Funding is provided in the amount of $65,843 to add an IR analyst position to meet new Federal requirements for reporting employment data for students and graduates. In addition $2,500 in onetime operating start-up funds are provided as well as $2,000 in operating funds. Campus Recreation Center = $209,924 Non-recurring funding is provided to the Campus Recreation Center unit to continue with the expanded hours and additional programming provided by the university in recent years. Housing Subsidy = $225,000 Non-recurring funding provided for housing for FY 2012 as the subsidy for housing is phased out. 15

17 Budget Highlights and Analysis Career Placement and Employment Reporting = $55,114 Funding is provided in the amount of $50,614 to add a data coordinator position in the Career Development Center. In addition, $2,500 in one-time operating start-up funds are provided as well as $2,000 in operating funds. Contract Staff Attorney = $50,000 Funding is provided to hire a staff attorney on a thirteen month contract. KERS rate increase = $1,000,000 The state has increased KERS employer contribution rate to make-up for shortfalls in the KERS pension fund. Legislation was passed to increase rates gradually over the next 10 years to fully fund the KERS pension fund. Given our current salary base and the state s current actuarial calculations, NKU contributions are expected to double by FY24. $14,000,000 Impact of Projected KERS Increases on the FY12 Salary Base Assumes KERS phase-in of full actuarially required contribution rates applied to FY12 KERS budget. $12,000,000 $10,000,000 $8,000,000 $6,000,000 Hazardous Non-Hazardous $4,000,000 $2,000,000 $0 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 16

18 Budget Highlights and Analysis Increase in Fixed Costs and Other Nondiscretionary Expenditures = $4,013,800 Nondiscretionary expenditures include institutional fixed costs and semi-fixed costs such as debt service, insurance, maintenance contracts, utilities, bad debt, budget corrections, technical adjustments and other essential university expenditures. University Contingency = $500,000 A university contingency of $500,000 is budgeted for FY These funds are reserved for unanticipated expenditures during the fiscal year and authorized by the President. Budget Contingency = $5,500,000 A budget contingency of $4.5 million is budgeted for FY along with an investment reserve of $1.0 million. In the event that a budget reduction is required in FY , Northern Kentucky University will be well prepared to respond without interrupting operations. State Appropriation Budget Reserves = $968,600 The state moved $968,600 in state appropriation from FY2012 to FY2011.It is anticipated that the full $968,600 will be restored in FY

19 Budget Highlights and Analysis Expenditures by Major Function Auxiliary Enterprises 6.18% Student Financial Aid 6.03% Operation & Maintenance of Plant 9.03% Transfers - Debt Service E&G 1.63% Transfers - Other E&G 0.59% Instruction, Research, Public Service 38.83% Institutional Support 14.73% Student Services 8.70% Academic Support & Libraries 14.26% 18

20 Budget Highlights and Analysis Expenditures by Major Object Code Utilities 3.44% Reserves 3.13% Student Financial Aid 6.11% Transfers - Other 4.41% Transfers - Other 0.16% Capital 2.34% Operating 21.07% Personnel Services/Fringe Benefits 59.35% 19

21 Budget Highlights and Analysis Expenditures by Major Area / Selected Functions Student Financial Aid 6.22% Utilities - E&G 3.11% Debt Service 0.33% Contingency 0.24% University Advancement 2.43% Auxiliaries 6.37% Academic Affairs 54.06% Student Affairs 5.54% Planning, Policy and Budget 0.72% General Admin/General Inst 9.71% Administration & Finance 11.27% 20

22 FY Academic Affairs Expenditure Budget Academic Affairs Budget Recurring ($) Budget Non-Recurring ($) Total Budget ($) Personnel Staff Administrative Payroll 19,064, ,064,324 Faculty Payroll 49,666, ,666,277 Fringe Benefits 19,894, ,894,235 Student Compensation 1,137, ,137,528 Subtotal 89,762, ,762,364 Operating Pooled Operating 6,032,840 1,588,486 7,621,326 Non-Pooled Operating/Contract Srvcs 11,772, ,772,904 Utilities 111, ,500 Subtotal 17,917,244 1,588,486 19,505,730 Capital 4,616, ,981,640 Scholarships 11,169, ,182,045 Total Expenditure Budget 123,464,991 1,588, ,053,477 Revenues (4,827,291) 0 (4,827,291) Total Central University Support 118,637,700 1,588, ,226,186 Budgeted FTE - Faculty 587 Budgeted FTE - Administration/Staff

23 FY Academic Affairs Expenditure Budget Academic Affairs (excluding colleges) Budget Recurring ($) Budget Non-Recurring ($) Total Budget ($) Personnel Staff Administrative Payroll 13,166, ,166,582 Faculty Payroll 5,993, ,993,700 Fringe Benefits 6,691, ,691,370 Student Compensation 845, ,828 Subtotal 26,697, ,697,480 Operating Pooled Operating 2,972,272 1,588,486 4,560,758 Non-Pooled Operating/Contract Srvcs 7,491, ,491,962 Utilities 111, ,500 Subtotal 10,575,734 1,588,486 11,470,884 Capital 3,981, ,981,640 Scholarships 9,182, ,182,045 Total Expenditure Budget 50,436,899 1,588,486 52,025,385 Revenues (3,726,227) 0 (3,726,227) Total Central University Support 46,710,672 1,588,486 48,299,158 Budgeted FTE Faculty 60 Budgeted FTE - Administration/Staff

24 FY Academic Affairs Expenditure Budget College of Arts & Sciences Budget Recurring ($) Budget Non-Recurring ($) Total Budget ($) Personnel Staff Administrative Payroll 1,825, ,825,532 Faculty Payroll 19,242, ,242,803 Fringe Benefits 5,737, ,737,488 Student Compensation 111, ,660 Subtotal 26,917, ,917,483 Operating Pooled Operating 1,334, ,334,030 Non-Pooled Operating/Contract Srvcs 195, ,821 Utilities Subtotal 1,529, ,529,851 Capital Scholarships 68, ,956 Total Expenditure Budget 28,516, ,516,290 Revenues (746,010) 0 (746,010) Total Central University Support 27,770, ,770,280 Budgeted FTE Faculty 267 Budgeted FTE - Administration/Staff

25 FY Academic Affairs Expenditure Budget Haile/US Bank College of Business Budget Recurring ($) Budget Non-Recurring ($) Total Budget ($) Personnel Staff Administrative Payroll 658, ,082 Faculty Payroll 6,712, ,712,323 Fringe Benefits 1,766, ,766,506 Student Compensation 26, ,435 Subtotal 9,163, ,163,346 Operating Pooled Operating 657, ,869 Non-Pooled Operating/Contract Srvcs 23, ,295 Utilities Subtotal 681, ,164 Capital Total Expenditure Budget 9,844, ,844,510 Revenues (93,400) 0 (93,400) Total Central University Support 9,751, ,751,110 Budgeted FTE Faculty 51 Budgeted FTE - Administration/Staff

26 FY Academic Affairs Expenditure Budget College of Education and Human Services Budget Recurring ($) Budget Non-Recurring ($) Total Budget ($) Personnel Staff Administrative Payroll 601, ,943 Faculty Payroll 5,026, ,026,584 Fringe Benefits 1,684, ,684,389 Student Compensation 52, ,307 Subtotal 7,365, ,365,223 Operating Pooled Operating 182, ,963 NonPooled Operating & Contract Srvcs 275, ,866 Utilities Subtotal 458, ,829 Capital 3, ,200 Total Expenditure Budget 7,827, ,827,252 Revenues (38,264) 0 (38,264) Total Central University Support 7,788, ,788,988 Budgeted FTE - Faculty 65 Budgeted FTE - Administration/Staff 13 25

27 FY Academic Affairs Expenditure Budget College of Health Professions Budget Recurring ($) Budget Non-Recurring ($) Total Budget ($) Personnel Staff Administrative Payroll 391, ,388 Faculty Payroll 3,589, ,589,599 Fringe Benefits 948, ,855 Student Compensation 3, ,990 Subtotal 4,933, ,933,832 Operating Pooled Operating 158, ,251 Non-Pooled Operating/Contract Srvcs 458, ,350 Utilities Subtotal 616, ,601 Capital Total Expenditure Budget 5,550, ,550,433 Revenues (110,190) 0 (110,190) Total Central University Support 5,440, ,440,243 Budgeted FTE - Faculty 44 Budgeted FTE - Administration/Staff 8 26

28 FY Academic Affairs Expenditure Budget College of Informatics Budget Recurring ($) Budget Non-Recurring ($) Total Budget ($) Personnel Staff Administrative Payroll 719, ,102 Faculty Payroll 4,949, ,949,603 Fringe Benefits 1,517, ,517,567 Student Compensation 61, ,077 Subtotal 7,247, ,247,349 Operating Pooled Operating 317, ,855 Non-Pooled Operating/Contract Srvcs 15, ,150 Utilities Subtotal 333, ,005 Capital Total Expenditure Budget 7,580, ,580,354 Revenues (105,200) 0 (105,200) Total Central University Support 7,475, ,475,154 Budgeted FTE Faculty 62 Budgeted FTE - Administration/Staff 11 27

29 FY Academic Affairs Expenditure Budget Chase College of Law Budget Recurring ($) Budget Non-Recurring ($) Total Budget ($) Personnel Staff Administrative Payroll 1,701, ,701,695 Faculty Payroll 4,151, ,151,665 Fringe Benefits 1,548, ,548,060 Student Compensation 36, ,231 Subtotal 7,437, ,437,651 Operating Pooled Operating 409, ,600 Non-Pooled Operating/Contract Srvcs 3,312, ,312,460 Utilities Subtotal 3,722, ,722,060 Capital 631, ,182 Scholarships 1,918, ,918,360 Total Expenditure Budget 13,709, ,709,253 Revenues (8,000) 0 (8,000) Total Central University Support 13,701, ,701,253 Budgeted FTE Faculty 38 Budgeted FTE - Administration/Staff

30 FY Administration and Finance Expenditure Budget Administration & Finance Budget Recurring ($) Budget Non-Recurring ($) Total Budget ($) Personnel Staff Administrative Payroll 13,159,494 82,500 13,241,994 Fringe Benefits 6,802, ,802,957 Student Compensation 188, ,714 Subtotal 20,151,165 82,500 20,233,665 Operating Pooled Operating 3,084,175 4,402,497 7,486,672 Non-Pooled Operating/Contract Srvcs 2,723, ,723,524 Utilities 5,907, ,907,090 Subtotal 11,714, ,714,789 Capital 89, ,301 Debt Service/Lease Payments 2,347, ,347,253 Total Expenditure Budget 34,302,508 4,484,997 34,302,508 Revenues (7,254,720) 0 (7,254,720) Total Central University Support 27,047,788 4,484,997 31,450,285 Budgeted FTE - Administration/Staff

31 FY General Administration Expenditure Budget General Administration Budget Recurring ($) Budget Non-Recurring ($) Total Budget ($) Personnel Staff Administrative Payroll 1,297, ,297,847 Fringe Benefits 320, ,173 Student Compensation 37, ,669 Subtotal 1,655, ,655,689 Operating Pooled Operating 101, ,527 Non-Pooled Operating/Contract Srvcs 178, ,794 Utilities Subtotal 280, ,321 Capital Debt Service/Lease Payments Total Expenditure Budget 1,936, ,936,010 Revenues Total Central University Support 1,936, ,936,010 Budgeted FTE - Administration/Staff

32 FY Institutional Expenditure Budget Institutional Expense Budget Recurring ($) Budget Non-Recurring ($) Total Budget ($) Personnel Staff Administrative Payroll 1,560, ,560,560 Fringe Benefits -240, ,715 Student Compensation 155, ,276 Subtotal 1,475, ,475,121 Operating Pooled Operating 2,328, ,267 2,572,249 Non-Pooled Operating/Contract Srvcs 11,932, ,932,700 Utilities Subtotal 14,261, ,267 14,504,949 Capital Scholarships 19, ,605 Debt Service/Lease Payments 4,008, ,008,118 Total Expenditure Budget 19,764, ,267 20,007,793 Revenues (370,000) 0 (370,000) Total Central University Support 19,394, ,267 19,637,793 31

33 FY Planning, Policy, and Budget Expenditure Budget Planning, Policy, and Budget Budget Recurring ($) Budget Non-Recurring ($) Total Budget ($) Personnel Staff Administrative Payroll 1,041, ,041,393 Fringe Benefits 382, ,497 Student Compensation 10, ,048 Subtotal 1,433, ,433,938 Operating Pooled Operating 30, ,210 Non-Pooled Operating/Contract Srvcs 25, ,602 Utilities Subtotal 55, ,812 Capital 0 2,500 2,500 Debt Service/Lease Payments Total Expenditure Budget 1,489,750 2,500 1,492,250 Revenues Total Central University Support 1,489,750 2,500 1,492,250 Budgeted FTE - Administration/Staff

34 FY Student Affairs Expenditure Budget Student Affairs Budget Recurring ($) Budget Non-Recurring ($) Total Budget ($) Personnel Staff Administrative Payroll 5,599, ,599,951 Faculty Payroll 1, ,983 Fringe Benefits 2,389, ,389,137 Student Compensation 773, ,383 Subtotal 8,764, ,764,454 Operating Pooled Operating 3,379, ,000 3,604,364 Non-Pooled Operating/Contract Srvcs 2,447, ,447,558 Utilities 1,346, ,346,018 Subtotal 7,172, ,000 7,397,940 Capital 292,433 2, ,933 Scholarships 1,893, ,893,283 Debt Service/Lease Payments 3,416, ,416,291 Total Expenditure Budget 21,539, ,500 21,766,901 Revenues (10,192,759) 0 (10,192,759) Total Central University Support 11,346, ,500 11,574,142 Budgeted FTE - Administration/Staff

35 FY University Advancement Expenditure Budget University Advancement Budget Recurring ($) Budget Non-Recurring ($) Total Budget ($) Personnel Staff Administrative Payroll 2,719, ,719,226 Faculty Payroll 6, ,000 Fringe Benefits 997, ,560 Student Compensation 31, ,584 Subtotal 3,754, ,754,370 Operating Pooled Operating 1,187, ,187,678 Non-Pooled Operating/Contract Srvcs 96, ,516 Utilities Subtotal 1,284, ,284,194 Capital Scholarships Debt Service/Lease Payments Total Expenditure Budget 5,038, ,038,564 Revenues (133,414) 0 (133,414) Total Central University Support 4,905, ,905,150 Budgeted FTE - Administration/Staff

36 Research Foundation Research Foundation The Northern Kentucky University Research Foundation (NKURF) is organized for educational purposes, more specifically to support Northern Kentucky University s efforts to promote the development, implementation, and coordination of extramurally-sponsored and NKURF-supported programs involving research, instruction, public service, including the administration of conservation easements, and other projects that further the mission of the University. NKURF is a 501(c) (3) non-profit corporation and is designated to receive, invest, and expend funds to promote and implement scientific and educational activities. NKURF performs a variety of roles including: Serving as the University s agent for the receipt of external grants and contracts, intellectual property income and other designated income, and conservation easements; Overseeing the protection, development, and commercialization of intellectual property; Funding for the NKURF programs is derived from multiple sources, including the federal government, state government, and private organizations. These funds include support for direct costs such as salaries, benefits, and other various allocable project expenses as well as facilities and administrative expenses. During the past nine years through FY 2011, new grant awards received for research or programs through NKU and the NKURF have averaged almost $10,000,000 per year, providing substantial support to scholarly research, new and ongoing campus programs, and outreach to Northern Kentucky communities. 35