FY 2014 FINAL OPERATING BUDGET PRESENTATION SEPTEMBER 2013

Transcription

1 FY 2014 FINAL OPERATING BUDGET PRESENTATION SEPTEMBER 2013

2 FY 2014 OPERATING BUDGET PARAMETERS FY 2014 Operating Appropriations Increases WL 4.7%, PUC 3.7%, IPFW 1.2%, PNC 2.9% Merit Increase Salary Policy WL 1.0%, PUC 0.0%, IPFW 0.0%, PNC 1.5% 0.0% Increase in Supplies and Expense Budgets for all Campuses 6.9% Mandatory Budget Reductions at Calumet Campus 6.8% Mandatory Budget Reductions at IPFW Campus

3 FEE STRUCTURE 0% General Tuition and Fee Increase for West Lafayette Campus for Resident and Nonresident Students, plus $82 Increase to Student Fitness and Wellness Fee and $10 Increase in Student Activity Fee. 0% General Tuition and Fee Increases for Statewide Technology Resident and Nonresident Students. Engineering Differential Fee for undergraduates increased by $250 per year (Year 3 of 4) Veterinary Medicine Instructional Support Fee for new to program students of $500 per year Fee Reductions Internship/Co-op/Industrial Practice Fee Non credit - $400 participation fee For credit - $200 participation fee plus per credit hour fee Reduction in Student Meal Plan Rates Rates were reduced by 5% from Board Authorized Rates A $252 reduction to the 12-meal plan 2.0% General Tuition and Fee Increase for Regional Campus Resident and Nonresident Students

4 STUDENT AFFORDABILITY ACCOUNT $40 MILLION CHALLENGE New Revenue: Interest Policy Changes $5,000,000 Anticipated Appropriations 3,887,326 Medical Program Savings 6,500,000 Cost Avoidance 6,875,948 Salary Policy Change (1%) Organizational Budget Reductions Reduced Allocations - prioritizing Engineering and Krannert 12,175,293 Volunteered Reductions 10,240,513 Overall reduct ion in admin. unit reserves Vacant Posit ions (IT, VPr, Business Services, et c.) Service Ent erprises-eliminat ion of general fund subsidy Individual Employee Elections 183,259 Total $44,862,339

5 TOTAL SYSTEM FY 2014 ALL FUNDS REVENUE BUDGET BY CAMPUS Funds Available West Lafayette University Calumet Fort Wayne North Central Total System General Funds Student Tuition and Fees $ 637,224,390 $ 51,962,356 $ 62,201,662 $ 16,083,077 $ 767,471,485 Operating Appropriation 244,792,248 27,843,362 39,018,966 13,453, ,108,565 Debt Service Appropriation 21,336,918 1,474,082 5,310,403 2,024,537 30,145,940 F&A Recovery 58,000, , ,000 65,000 58,990,000 Interest Income 25,500,000 1,200,000 1,700, ,000 28,725,000 Other Income 24,410, ,000 2,635, ,000 28,816,990 General Funds Total $ 1,011,263,667 $ 84,159,800 $ 111,041,910 $ 32,792,603 $ 1,239,257,980 Restricted Funds 472,479,894 13,352,019 17,828,034 5,489, ,149,866 Auxiliary Enterprises 300,078,285 7,058,911 16,741,138 1,572, ,450,734 Student Aid 177,638,430 22,017,700 37,628,908 11,135, ,420,067 Total Revenues All Funds $ 1,961,460,276 $ 126,588,430 $ 183,239,990 $ 50,989,951 $ 2,322,278,647 Other Income 2% Interest Income 2% F&A Recovery 5% General Funds FY 2013 General Funds FY 2014 Debt Service Appropriations 2% Student T&F 63% Operating Appropriations 26% Student T&F 62% Other Income 2% Operating Appropriations 26% Debt Service Appropriations 3% F&A Recovery 5% Interest Income 2%

6 COMPARISON OF TUITION AND FEES BIG TEN PUBLIC UNIVERSITIES ACADEMIC YEAR Undergraduate Resident Nonresident University Tuition & Fees Rank by Cost 1-Year Change Tuition & Fees Rank by Cost 1-Year Change Penn State University $16, % $29, % University of Illinois 15, % 29, % University of Minnesota 13, % 19, % University of Michigan* 13, % 40, % Michigan State University* 12, % 33, % University of Wisconsin-Madison 10, % 26, % Indiana University 10, % 32, % Ohio State University 10, % 25, % University 9, % + $92 28, % + $92 University of Iowa 8, % 26, % University of Nebraska-Lincoln 7, % 21, % Mean (excluding ) $11, % $28, % index to mean *MSU and University of Michigan both reported negative 1-year change in fees as a result of new instructions to report lower division fees, instead of a blended rate.

7 REGIONAL CAMPUSES PEER COMPARISONS RESIDENT UNDERGRADUATE TUITION AND FEE RATES ACADEMIC YEAR PUC Ranked 7 th among 11 peers. (85 percent of mean) IPFW Ranked 5 th among 12 peers. (110 percent of mean) PNC Ranked 4 th among 11 peers. (99 percent of mean)

8 TOTAL SYSTEM FY 2014 ALL FUNDS EXPENDITURE BUDGET BY CAMPUS Supplies and Expense 17% Salary and Wages 48% General Funds FY 2013 General Funds FY 2014 Fuel, Utilities, and Other Mandatory Costs 7% Debt Service 3% Fee Remissions 5% Scholarships and Grants 3% West Lafayette University Calumet Indiana- Fort Wayne North Central Expenditures Total System General Funds Salary and Wages $ 490,470,680 $ 44,141,215 $ 54,165,769 $ 16,805,681 $ 605,583,345 Supplies and Expense 167,714,725 15,021,100 17,771,616 4,962, ,470,138 Benefits 167,740,294 16,495,203 23,727,483 6,572, ,535,208 Fuel, Utilities, and Other Mandatory Costs 68,741,207 3,785,500 4,483,474 1,921,341 78,931,522 Debt Service 21,336,918 1,474,082 5,310,403 2,024,537 30,145,940 Fee Remissions 56,338,590 1,405,100 5,583, ,357 63,531,212 Scholarships and Grants 38,921,253 1,837, ,762 41,060,615 General Funds Total $ 1,011,263,667 $ 84,159,800 $ 111,041,910 $ 32,792,603 $ 1,239,257,980 Restricted Funds 472,479,894 13,352,019 17,828,034 5,489, ,149,866 Auxiliary Enterprises 300,078,285 7,058,911 16,741,138 1,572, ,450,734 Student Aid 177,638,430 22,017,700 37,628,908 11,135, ,420,067 Total Expenditures All Funds $ 1,961,460,276 $ 126,588,430 $ 183,239,990 $ 50,989,951 $ 2,322,278,647 Benefits 17% Supplies and Expense 17% Salary and Wages 49% Benefits 17% Fuel, Utilities, and Other Mandatory Costs 6% Debt Service 3% Fee Remissions 5% Scholarships and Grants 3%

9 TOTAL SYSTEM FY 2014 RESTRICTED FUNDS EXPENDITURE BUDGET Expenditures West Lafayette University Calumet Indiana- Fort Wayne North Central Total System Federal Sponsored Programs $ 179,237,340 $ 5,968,768 $ 767,747 $ 605,739 $ 186,579,593 Non-Federal Sponsored Programs 79,778, , ,375 23,030 81,309,219 Agricult ure Research and Extension* 67,949, ,949,731 Continuing Education 29,165,317 6,193,000 10,239,678 4,210,000 49,807,995 Gift Funded Programs 33,259, ,000 3,070, ,000 37,104,245 Organized Activities-Learning, Discovery, Engagement 24,353,812 68, , ,779,538 Internal Recharge Activities 37,443, , ,623,450 Statewide Technology** 11,234, ,234,363 Other 10,057,483 48,900 2,279, ,150 12,761,733 Total Restricted Fund Budgeted Activities $ 472,479,894 $ 13,352,019 $ 17,828,034 $ 5,489,919 $ 509,149,866 % Change over FY % 9.5% 6.1% 27.9% -1.7% Total System FY 2014 Agriculture Research and Extension 13% Continuing Education 10% Gift Funded Programs 7% Non-Federal Sponsored Programs 16% Organized Activities-Learning, Discovery, Engagement 5% Internal Recharge Activities 7% Federal Sponsored Programs 37% * Includes Federal, State and County Line Item Appropriations for AES and CES, Research Farms and ADDL ** Includes only Fees and Appropriations Statewide Technology 2% Other 3%

10 TOTAL SYSTEM SPONSORED PROGRAM AWARDS BY SOURCE ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL AWARDS BY SOURCE FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 Federal $223,777,573 $344,892,706 $306,718,162 $242,022,335 $216,161,513 Industrial/Foundations 83,164,290 56,624,078 65,596,871 73,224,587 70,324,354 State/Local Government 24,678,983 27,870,167 27,184,500 22,391,985 17,846,954 PRF/ 9,043,201 7,195,292 12,894,862 13,682,936 10,884,846 Foreign Government 1,506,465 1,457,505 7,164,115 2,230,533 4,962,668 Total $342,170,512 $438,039,748 $419,558,510 $353,552,376 $320,180,335 Above Includes ARRA Awards $105 M $23.6 M $2.1 M $916 K $500,000,000 $450,000,000 $400,000,000 $350,000,000 $300,000,000 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $0 Awards by Source FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 Federal Industrial/Foundations State/Local Government PRF/ Foreign Government

11 TOTAL SYSTEM FY 2014 AUXILIARY ENTERPRISES EXPENDITURE BUDGET Expenditures West Lafayette University Calumet Indiana- Fort Wayne North Central Total System Campus Housing $ 113,963,085 $ 3,844,685 $ 7,806,018 $ $ 125,613,788 Service Enterprises & Other* 48,656, , , ,120 49,914,868 Athletics 73,286, ,189 3,683, ,038 78,145,315 Union, Regional Campus Food Service 20,779, , ,000 21,512,946 Health, Recreation & Student Activities 25,747, ,347 1,109, ,242 27,324,963 Printing and Duplicating Service 4,438, , , ,000 5,502,457 Parking 7,907,697 1,225,399 2,453, ,000 11,953,997 Transportation Services 5,299,299 86,101 72,000 25,000 5,482,400 Total Auxiliary Enterprises $ 300,078,285 $ 7,058,911 $ 16,741,138 $ 1,572,400 $ 325,450,734 % Change over FY % -0.3% 3.8% -1.8% -2.5% Athletics 24% Service Enterprises and Other* 15% Campus Housing 38% Total System FY 2014 Union, Regional Campus Food Service 7% Health, Recreation and Student Activities 8% Printing and Duplicating Service 2% Parking 4% Transportation Services 2% *Includes Telecommunications, Food Stores, University Stores, Mail Services, IT Services, Hall of Music, Airport and Other

12 TOTAL SYSTEM FY 2014 STUDENT FINANCIAL AID FUNDS BUDGET Student Financial Aid West Lafayette University Calumet Indiana- Fort Wayne North Central Total System Scholarships and Grants (Budgeted) $ 177,638,430 $ 22,017,700 $ 37,628,908 $ 11,135,029 $ 248,420,067 Percent Increase Over FY % 1.8% 1.2% 0.9% 2.6% Other Student Financial Support Loan Programs 200,629,257 41,136,200 54,989,319 16,034, ,789,287 Employment Related 163,191,657 4,898,200 4,248, , ,947,536 Institutional Fee Remissions 17,515, ,900 4,729, ,089 22,811,454 Total Other Student Financial Support $ 381,336,721 $ 46,239,300 $ 63,967,192 $ 17,005,064 $ 508,548,277 Total Student Financial Aid $ 558,975,151 $ 68,257,000 $ 101,596,100 $ 28,140,093 $ 756,968,344 Percent Increase Over FY % 2.0% 1.6% 0.8% 1.8% Total System FY 2014 Employment Related 23% Scholarships and Grants 33% Loan Programs 41% Institutional Fee Remissions 3%

13 FY 2014 FINAL OPERATING BUDGET PRESENTATION SEPTEMBER 2013