General Budget Terminology

Similar documents
FY Operating Budget

COLORADO STATE UNIVERSITY-PUEBLO BUDGET. Version 1 ( )

ALL FUNDS OPERATING BUDGET FY2016. Institutional Budget Document Page 1

University of Georgia Chart of Accounts

UNIVERSITY OF WYOMING BUDGETS

Functions at West Virginia University

ALL FUNDS OPERATING BUDGET FY2017. Institutional Budget Document Page 1

(REPORT IN WHOLE DOLLARS ONLY) Current Assets 01 Total Current Assets 11,652,737

UNIVERSITY OF WYOMING BUDGETS

Oklahoma State Regents for Higher Education 655 Research Parkway, Suite 200 Oklahoma City, OK 73104

Operating Budget FY 2009 Budget (in $M)

EXECUTIVE SUMMARY. Performance Fund* 4,414,100 Total $74,448,900

Oklahoma State Regents for Higher Education 655 Research Parkway, Suite 200 Oklahoma City, OK 73104

Oklahoma State Regents for Higher Education 655 Research Parkway, Suite 200 Oklahoma City, OK 73104

Oklahoma State Regents for Higher Education 655 Research Parkway, Suite 200 Oklahoma City, OK 73104

Fiscal Year 2019 Annual Operating Budget Executive Summary

Oklahoma State Regents for Higher Education 655 Research Parkway, Suite 200 Oklahoma City, OK 73104

Oklahoma State Regents for Higher Education 655 Research Parkway, Suite 200 Oklahoma City, OK 73104

Joseph Trubacz Senior Vice President for Finance and Administration

Oklahoma State Regents for Higher Education 655 Research Parkway, Suite 200 Oklahoma City, OK 73104

The UNIVERSITY of MISSOURI SYSTEM. Columbia. Rolla. Fiscal Year Operating Budget

FY 2016 CURRENT FUNDS BUDGET

UNIVERSITY of MISSOURI SYSTEM

Fund Type Descriptions

For Yale Faculty, Staff, and Students only

ARKANSAS DEPARTMENT OF HIGHER EDUCATION ADHE 17-1 SUMMARY OF INCOME FOR ALL FUND GROUPS (SEE INSTRUCTIONS)

WICHITA STATE UNIVERSITY

Oklahoma State Regents for Higher Education 655 Research Parkway, Suite 200 Oklahoma City, OK 73104

FY 2017 WORKING BUDGET MAJOR COMPONENTS $436,805,383

UIC HR Policy : Temporary Academic Professional Appointments Appendix Fund Type Descriptions

TABLE OF CONTENTS. Statement of Net Positon 1. Statement of Revenues, Expenses and Changes in Net Position 2. Total Expenditures by Fund 3

TABLE OF CONTENTS. Statement of Net Positon 1. Statement of Revenues, Expenses and Changes in Net Position 2. Total Expenditures by Fund 3

Central Michigan University. Financial Report. As of and for the Years Ended June 30, 2004 and 2003

Message from the Chief Financial Officer

FY15 Six Month Budget Update

Operating & Capital Budgets

Highlights financial report. June 30 June (in thousands)

TABLE OF CONTENTS. Statement of Net Positon 1. Statement of Revenues, Expenses and Changes in Net Position 2. Total Expenditures by Fund 3

FY 2012 CURRENT FUNDS BUDGET

Colorado School of Mines Board of Trustees Meeting June 18, Operating Budget for the Fiscal Year

TABLE OF CONTENTS. Statement of Net Positon 1. Statement of Revenues, Expenses and Changes in Net Position 2. Total Expenditures by Fund 3

CALIFORNIA STATE UNIVERSITY, NORTHRIDGE. Financial Statements. June 30, (With Independent Auditors Report Thereon)

Table of Contents...1. Letter to the President...3. Financial Highlights Balance Sheet...8, 9. Statement of Changes in Fund Balances...

Special Budget Approval Meeting

Approval of Fiscal Year 2019 Operating Budget UM

2017/18 Annual Budget Report. Charlie Faas VP Administration & Finance/CFO

Proposed Budget Document FY

The UNIVERSITY of MISSOURI SYSTEM. Fiscal Year Operating Budget

Oklahoma State Regents for Higher Education EDUCATIONAL AND GENERAL BUDGET - FY PART I - PRIMARY BUDGET

FY 2018 Budget Overview

Prepared by the Office of the Treasurer

Accounting for Colleges & Universities. Chapter 14

HOLYOKE COMMUNITY COLLEGE (an agency of the Commonwealth of Massachusetts)

University of Houston-Clear Lake Appendix A - Allocation of New FY 2014 Resources

EXECUTIVE SUMMARY. The enacted budget, House Bill 303, and Senate Bill 153 include the following WKU state funding for FY 2018:

Review Fiscal Year 2018 Operating Budget Planning UM. The Board s touchpoints in this process are detailed below:

ARKANSAS DEPARTMENT OF HIGHER EDUCATION ADHE 17-1 SUMMARY OF INCOME FOR ALL FUND GROUPS (SEE INSTRUCTIONS)

Fiscal Year 2018 Total Budgeted Revenue/Expenditures From CSU Operating Budget Summary:

Budget Reform Update. Paul Ellinger, Associate Chancellor & Vice Provost Budget and Resource Planning

UH-Clear Lake Budget

Fiscal Year 2017 Budget

ARKANSAS DEPARTMENT OF HIGHER EDUCATION ADHE 17-1 SUMMARY OF INCOME FOR ALL FUND GROUPS (SEE INSTRUCTIONS)

UNIVERSITY OF MISSOURI SYSTEM OPERATING BUDGET FISCAL YEAR

Prepared by the Office of the Treasurer

New Jersey Institute of Technology

THE UNIVERSITY of TENNESSEE REVISED BUDGET DOCUMENT

ARKANSAS DEPARTMENT OF HIGHER EDUCATION ADHE 17-1 SUMMARY OF INCOME FOR ALL FUND GROUPS (SEE INSTRUCTIONS)

The Florida International University Budget Town Hall Discussion. March 9, 2009

Dean s RCM Workshops January 2015

Fiscal Year 2019 Consolidated Operating Budget

Table of Contents. Executive Summary... Overview...

Louisiana State University System

FISCAL 2018 BUDGET UPDATE

Louisiana State University System

Budget Document FY

FLORIDA ATLANTIC UNIVERSITY UNIVERSITY OPERATING BUDGET JULY 1, 2005 TO SEPTEMBER 30, 2005 FIRST QUARTER REPORT

UNIVERSITY OF SOUTH ALABAMA BUDGET

Colorado State University System Financial Statements and Independent Auditor s Reports Financial Audit Years Ended June 30, 2016 and 2015 Compliance

MONITORING REPORT CHANCELLOR LIMITATIONS FINANCIAL CONDITION AND ACTIVITIES; FINANCIAL PLANNING AND BUDGETING

Wayne State University. Accounting 101

FINANCIAL REPORT. Arizona State University

PIMA COUNTY COMMUNITY COLLEGE DISTRICT BUDGET FOR FISCAL YEAR SUMMARY OF BUDGET DATA

JULY AUGUST SEPTEMBER

Financial Reporting. University Senate January 22, 2016

MIDDLE GEORGIA STATE UNIVERSITY Budget Stakeholder Report Fiscal Year 2016

Forest Service Funding Source FY 2015*

OFFICIAL BUDGET FORMS COCONINO COUNTY COMMUNITY COLLEGE DISTRICT COCONINO COMMUNITY COLLEGE FISCAL YEAR Adopted Budget

WESTERN KENTUCKY UNIVERSITY REPORT ON AUDIT OF INSTITUTION OF HIGHER EDUCATION IN ACCORDANCE WITH OMB CIRCULAR A-133 June 30, 2009 and 2008

FY 2012 Revised Budget Document

MORGAN STATE UNIVERSITY. Financial Statements Together with Report of Independent Public Accountants

Frequently Asked Questions (FAQs) about NKU s New Budget Model

MONITORING REPORT CHANCELLOR LIMITATIONS FINANCIAL CONDITION AND ACTIVITIES; FINANCIAL PLANNING AND BUDGETING

ARKANSAS DEPARTMENT OF HIGHER EDUCATION ADHE 17-1 SUMMARY OF INCOME FOR ALL FUND GROUPS

PIMA COUNTY COMMUNITY COLLEGE DISTRICT BUDGET FOR FISCAL YEAR SUMMARY OF BUDGET DATA

Colorado State University System Financial Statements and Independent Auditor s Reports Financial Audit Years Ended June 30, 2018 and 2017 Compliance

SAN JOSE STATE UNIVERSITY. Financial Statements. June 30, (With Independent Auditors Report Thereon)

Financial Management Guidelines and Procedures

UNIVERSITY OF KANSAS MEDICAL CENTER

F I N A N C I A L R E P O R T

BALTIMORE CITY COMMUNITY COLLEGE. Financial Statements Together with Report of Independent Public Accountants

Transcription:

Presentation FY 2018-19 Operating Title Budget Subtitle June 22, 2018

2 General Budget Terminology Current Funds Budget The current funds budget includes those economic resources of the institution which are expendable for any purpose in performing the primary objectives of the institution. Current funds are categorized by three funds: Education & General, Auxiliary and Restricted. Auxiliary Auxiliary enterprises are self-contained business units that charge a fee and exist to provide a service to students, faculty, or staff. Examples of Auxiliary & Self-funded Activities: Intercollegiate Athletics, Bookstores, Housing Operations, Parking etc. These funds are not appropriated by the State. Unrestricted vs. Restricted Funds Unrestricted current funds include all funds that leadership may use for the primary mission of the institution (tuition, state support). Restricted funds consist of those funds restricted by donors or other outside agencies for a specific purpose (research, endowments).

3 General Budget Terminology NACUBO functional categories The National Association of College and University Business Officers (NACUBO) establishes definitions for the functional expenditure categories, which group and aggregate expenses by institutional purpose. Instruction Includes all activities that are part of an institution s instructional program. Included are credit and noncredit courses. Includes departmental research and sponsored instruction. Research Includes all activities specifically organized and separately budgeted to produce research. Public Service Includes identified activities that are established primarily to provide non instructional services beneficial to individuals and groups external to the institution (i.e. community service). Academic Support Includes support services for the institution s primary missions: instruction, research, and public service. Examples include: Libraries, Ancillary Support.

4 General Budget Terminology Student Services Those activities whose primary purpose is to contribute to the student s emotional and physical well-being outside the context of the formal instructional program. Examples: Tutoring, Counseling and Career Guidance, Student Health Services. Institutional Support Includes central executive-level activities concerned with management and long-range planning of the entire institution, such as the governing board, planning and programming, and legal services; fiscal operations, administrative data processing, employee personnel and records. Operation & Maintenance of Plant Includes the operation and maintenance of physical plants for all institutional activities, including auxiliary enterprises and independent operations. Scholarships & Fellowships Includes grants-in-aid, trainee stipends, tuition and fee waivers, prizes to undergraduate students and trainee stipends for grads.

FY 2018-19 Total Current Funds Budget Consolidated Sources of Revenue 5 Resident Tuition - Student Share, $502.5M, 11.2% Non-Resident Tuition, $576.4M, 12.8% Fees/Other Revenue, $273.7M, 6.1% Auxiliary Operating, Sales & Services, $554.6M, 12.3% Indirect Cost Reimbursement, $195.3M, 4.3% Private/other Gifts, Grants & Contracts, $417.6M, 9.3% Health Services, $1,071.7M, 23.8% Federal/State/Local Grants & Contracts, $669.4M, 14.9% Direct State Funding, $234.5M, 5.2% Total Current Funds Budget = $4.50 Billion

FY 2018-19 Total Current Funds Budget Consolidated Expenditures Student Institutional Support, Services, $201.6M, 4.5% $140.5M, 3.1% Academic Support, $226.8M, 5.0% Research, $694.7M, 15.5% Public Service, $142.3M, 3.2% Plant Operations, $158.0M, 3.5% Scholarships & Fellowships, $251.9M, 5.6% Instruction, $1,190.5M, 26.5% Auxiliary Operating, $257.5M, 5.7% Health Services, $1,021.4M, 22.7% Transfers, $210.3M, 4.7% Total Current Funds Expenditures and Transfers = $4.50 Billion 6

7 Statewide Tuition and Fee Increases Last Year Proposed Institution FY 2017-18 Tuition and Fees (30 credit hrs.) FY 2018-19 Tuition and Fees (30 credit hrs.) $ Increase % Increase Fort Lewis College $8,609 $9,058 $450 5.22% Metropolitan State University of Denver $7,353 $7,666 $313 4.26% University of Northern Colorado $9,545 $9,918 $372 3.90% University of Colorado Boulder - FY 2018-19 Cohort $12,086 $12,534 $448 3.71% Colorado Community College System (CCD) $5,614 $5,802 $188 3.36% Western State Colorado University $9,802 $10,114 $312 3.18% Colorado State University Pueblo $10,090 $10,408 $318 3.15% Colorado School of Mines $18,386 $18,964 $578 3.14% Colorado Mesa University $8,972 $9,243 $271 3.02% Colorado State University $11,632 $11,982 $350 3.01% University of Colorado Denver $11,078 $11,395 $317 2.86% University of Colorado Colorado Springs $10,201 $10,463 $262 2.57% Colorado Community College System (MCC) $4,520 $4,627 $107 2.36% Adams State University $9,440 $9,440 $0 0.00% University of Colorado Boulder - FY 2016-17 Cohort $11,531 $11,531 $0 0.00% University of Colorado Boulder - FY 2017-18 Cohort $12,087 $12,087 $0 0.00% University of Colorado Boulder - 4 Year Guarantee for incoming FY 2018-19 Freshmen & Transfer Cohort. 0.0% Tuition and Mandatory Fee increase for continuing Cohorts.

Boulder Campus 8

9 CU-Boulder FY 2018-19 Total Current Funds Budget Restricted Funds, $488.0M, 27.2% All Education & General Funds, $873.4M, 48.7% Auxiliary Funds, $433.6M, 24.2% Direct State Funding, $81.4M, 4.5% Total Current Funds Budget = $1.80 Billion

CU-Boulder FY 2018-19 Education & General Budget Sources of Revenue 10 Fees/Other, $15.2M, 1.7% ICR, $68.7M, 7.9% Direct State Funding, $81.4M, 9.3% Resident Tuition, $234.1M, 26.8% Non-Resident Tuition, $473.9M, 54.3% Total Education & General Budget = $873.4 Million

11 CU Boulder FY 2018-19 Budget Growth $70,000,000 $66 million CPI + Enrollment $60,000,000 $50,000,000 $1,362,488 $960,061 $50 million $16 million difference $40,000,000 $30,000,000 $26,483,808 $20,000,000 $10,000,000 $20,709,370 $- Operating Initiatives Targeted Bills ICR

Colorado Springs Campus 12

13 UCCS FY 2018-19 Total Current Funds Budget All Education & General Funds, $163.6M, 59.3% Restricted Funds, $56.9M, 20.7% Direct State Funding, $30.8M, 11.2% Auxiliary Funds, $55.2M, 20.0% Total Current Funds Budget = $275.7 Million

UCCS FY 2018-19 Education & General Budget Sources of Revenue 14 Non-Resident Tuition, $30.0M, 18.3% Resident Tuition, $92.8M, 56.7% Direct State Funding, $30.8M, 18.8% ICR, $1.1M, 0.7% Fees/Other, $8.9M, 5.4% Total Education and General Budget = $163.6 Million

UCCS FY 2018-19 Budget Growth $12,000,000 $11 million $10,000,000 $8 million CPI + Enrollment $8,000,000 $3,129,745 $3 million difference $6,000,000 $2,844,308 $4,000,000 $2,000,000 $4,955,752 $- Operating Initiatives Targeted Bills ICR 15

Denver Campus 16

17 CU Denver FY 2018-19 Total Current Funds Budget Restricted Funds, $50.9M, 16.6% Auxiliary Funds, $41.9M, 13.7% All Education & General Funds, $213.8, 69.7% Direct State Funding, $34.5M, 11.2% Total Current Funds Budget = $306.6 Million

CU Denver FY 2018-19 Education & General Budget Sources of Revenue 18 ICR, $3.4M, 1.6% Fees/Other, $22.3M, 10.4% Direct State Funding, $34.5M, 16.1% Resident Tuition, $105.1M, 49.1% Non-Resident Tuition, $48.6M, 22.7% Total Education & General Budget = $213.8 Million

19 CU Denver FY 2018-19 Budget Growth $9,000,000 $8.4 million CPI + Enrollment $8,000,000 $7,000,000 $7.6 million $0.8 million difference $483,923 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $7,195,013 $2,000,000 $1,000,000 $- Operating Initiatives Targeted Bills ICR

Anschutz Medical Campus 20

Anschutz Medical Campus FY 2018-19 Total Current Funds Budget 21 Health Services Revenue, $1.07B, 50.5% Restricted Funds, $497.7M, 23.5% All Education & General Funds, $292.6, 13.8% Total Auxiliary Funds, $1.33B, 62.7% Auxiliary Funds, $259.2M, 12.2% Direct State Funding, $87.8M, 4.1% Total Current Funds Budget = $2.12 Billion

Anschutz Medical Campus FY 2018-19 Education & General Budget Sources of Revenue 22 Fees/Other, $30.8M, 10.5% Resident Tuition, $70.5M, 24.1% ICR, $79.7M, 27.2% Non-Resident Tuition, $23.9M, 8.2% Direct State Funding, $87.8M, 30.0% Total Education & General Budget = $292.6 Million

23 CU Anschutz FY 2018-19 Budget Growth $10,000,000 $10 million $8,000,000 $2,300,139 $4 million difference $6 million CPI + Enrollment $6,000,000 $1,520,137 $4,000,000 $6,011,455 $2,000,000 $- Operating Initiatives Targeted Bills ICR

System Administration 24

System Administration FY 2018-19 Total Current Funds Budget 25 Restricted Funds, $23.7M, 13.4% Education & General Funds, $57.9M, 32.7% Auxiliary Funds, $95.5M, 53.9% Total Education & General Budget = $177.1 Million

System Administration FY 2018-19 Campus Support Budget by Department 26 Pooled Accounts & Reserve, $13.9M, 24.0% University Information Systems, $21.9M, 37.9% Procurement Service Center, $3.9M, 6.6% Employee Services, $3.9M, 6.8% Executive Administration, $14.3M, 24.7% Total Campus Support Budget = $57.9 Million

27 2018 Looking Ahead July Retreat CU Metrics September Meeting Compensation Report Enrollment Update Campus Efficiency Update November/December Meeting CU Finances Including unobligated and capital detail Carry forward report by campus including auxiliaries Revenue, expenditures and transfer summary report by campus Financial Aid

28 FY 2018-19 State Funded Capital Budget Request FY 19-20 Rank Cont. 1 2 3 4 5 Campus Anschutz Denver Boulder UCCS Boulder Anschutz Project Colorado Center for Personalized Medicine & Behavioral Health (CCPM&BH) Engineering & Physical Sciences Building/Renovation Hellems Capital Construction and Renovation Renovation of Existing Engineering Building Guggenheim Geography Building Capital Construction and Renovation College of Nursing and Student Support Services Renovations Source of Funding Table 1 - University of Colorado DRAFT FY 2019-20 Capital Construction State-Funded Budget Request FY 2018-19 FY 2019-20 Request FY 2020-21 Request FY 2021-22 Request FY 2022-23 Request State $ 12,346,906 $ 19,846,986 $ 21,859,241 $ - $ - $ 54,053,133 University $ 144,313,093 $ 11,405,000 $ - $ - $ - $ 155,718,093 Total $ 156,659,999 $ 31,251,986 $ 21,859,241 $ - $ - $ 209,771,226 State $ - $ 14,002,793 $ 29,739,451 $ 11,299,680 $ - $ 55,041,924 University $ - $ 4,667,598 $ 9,913,150 $ 3,766,560 $ - $ 18,347,308 Total $ - $ 18,670,391 $ 39,652,601 $ 15,066,240 $ - $ 73,389,232 State $ - $ 3,225,474 $ 10,177,262 $ 9,993,881 $ 9,993,383 $ 33,390,000 University $ - $ 4,454,226 $ 14,054,314 $ 13,801,074 $ 13,800,386 $ 46,110,000 Total $ - $ 7,679,700 $ 24,231,576 $ 23,794,955 $ 23,793,769 $ 79,500,000 State $ 8,056,086 $ 20,566,770 $ - $ - $ 28,622,856 University $ - $ 6,000,000 $ - $ - $ - $ 6,000,000 Total $ - $ 14,056,086 $ 20,566,770 $ - $ - $ 34,622,856 State $ - $ 1,039,621 $ 9,437,406 $ - $ - $ 10,477,027 University $ - $ 1,559,431 $ 14,156,110 $ - $ - $ 15,715,541 Total $ - $ 2,599,052 $ 23,593,516 $ - $ - $ 26,192,568 State $ - $ 8,813,206 $ - $ - $ - $ 8,813,206 University $ - $ 8,813,306 $ - $ - $ - $ 8,813,306 Total $ - $ 17,626,512 $ - $ - $ - $ 17,626,512 Total State Funds Request State $ 12,346,906 $ 54,984,166 $ 91,780,130 $ 21,293,561 $ 9,993,383 $ 190,398,146 Total Cash Funds Request University $ 144,313,093 $ 36,899,561 $ 38,123,574 $ 17,567,634 $ 13,800,386 $ 250,704,248 Total Prioritized Request Total $ 156,659,999 $ 91,883,727 $ 129,903,704 $ 38,861,195 $ 23,793,769 $ 441,102,394 Note: CU Anschutz - CCPM&BH received stand-alone approval of $32,270,515 cash funds in FY 2017-18 not included in the total above. Total

29 FY 18-19 to FY 19-20 Two-Year List of Cash Needs Two-Year List includes 2 new projects and can be updated throughout the year. These projects were approved by the Capital Development Committee on June 18, 2018, pending full Board of Regent Approval. Campus Project Source of Funding June 2018 Request Boulder Imig Music Building South Addition Table 2 - University of Colorado Two-Year Cash List Projects Debt, Capital Reserve funds, and Gifts Total Project Costs $ 57,000,000 $ 57,000,000 Fleming Tower Renovation and Systems Upgrades Debt and Capital Reserve funds $ 13,718,820 $ 13,718,820 CU System Total Cash Fund Request $ 70,718,820 $ 70,718,820