BOARD OF TRUSTEES BUDGET WORKSHOP May 23, 2013 BUDGET SUMMARY - PowerPoint PPT Presentation

BOARD OF TRUSTEES BUDGET WORKSHOP May 23, 2013

BUDGET SUMMARY  Overall the recurring budget increased $9.1 million.  This assumes a 1.7% tuition increase for in-state undergraduate and graduate students.  In addition, this number is based on 10,600 FTE. We are projecting 10,300 FTE.  As a result, the budget has a reserve in case of no tuition increase and/or enrollment shortfall.

BUDGET SUMMARY  Although we have additional recurring dollars, the carry- forward amount used to pay for non-recurring priorities is only $7.0 million, compared to $9.0 million last year.  Total general revenue and lottery for 2013/2014 is $76.5 million, compared to $90.8 million in 2007/2008. Without including property operation and maintenance dollars, general revenue and lottery for 2013/2014 was $59.0 million, compared to $79.2 million in 2007/2008 .

BUDGET SUMMARY  We increased recurring and non-recurring reserves to $4.0 million (or 2.8%) in case of call-backs this year, or additional budget reductions next year.  Adding in the reserves, should tuition increases occur, and for enrollment shortfall, the overall reserve is 4.6% of the operating budget.  Of the total educational & general budget, 79.0% of the budget is salaries, benefits and OPS; 4.7% is utilities; and the remaining 16.3% is operating expenses.

BUDGET PROCESS In 2012-2013:  Each division reviewed their operations to determine expenses that could be reduced.  A controlled spending committee continued to meet to review spending throughout the year and look for methods to create greater efficiencies.  The university had purchasing savings of $470K during the first 3 quarters of this fiscal year, due to sourcing and contracting by the Purchasing Department.  The vacancy pool committee continued its review process.

REVENUE BUDGET FOR 2013/2014 Increases  Restoration of FY 2013 budget reduction - $7.2 million.  Assuming a 1.7% tuition increase for undergraduate and graduate - $729,000.  Annualize 2012/2013 tuition increase - $1.2 million.  Plant, operations and maintenance for new buildings - $36,000.

DIVISIONAL REALLOCATIONS  Eliminated a director of donor communications position. Those responsibilities were absorbed by other employees, allowing us to hire a staff photographer.  Student Affairs realigned the responsibilities of an employee to assist more people.  Academic Affairs reallocated $350,000 to purchase a helium liquidifier which will bring in more dollars for sponsored grants.  Reallocated $200,000 from other colleges to Brooks College of Health, based on enrollment trends.

DIVISIONAL REALLOCATIONS  Reallocated $84,000 of summer school monies to Brooks College of Health to bring in an extra cohort of students.  Reallocated a position in property to provide an additional security position.  Moved 3 positions from Financial Systems to Information Technology Services to create the Project Management Office.  Deleted a position in the Controller’s office to upgrade other positions to professional level.

RECURRING RESOURCES FOR 2013/2014 1) 2012/2013 Educational & General Allocation (Initial) $130,943,558 Annualization of Health and Retirement Benefits $3,080,941 Enrollment Alignment/Differential Tuition $598,935 Adjusted 2012/2013 Base Allocation $134,623,434 2) 2013/2014 New Allocation Funding:  Enrollment Growth $0  Tuition Increase 729,047  Restoration of FY2013 Budget Reduction $7,191,189  Annualization of 2012/2013 Tuition Increase $376,199  Annualization of Tuition Differential/Prepaid Adjustment $800,960  Adjustment in Plant Operations & Maintenance for New $36,022 Space New Educational & General Funding $9,133,417 3) 2013/2014 Educational & General Allocation $143,756,851

FUNDING SOURCES FOR RECURRING ALLOCATION 2013/2014  New Educational & General Funding $9,133,417  Reserves (2012/2013 Recurring) $2,481,362  Savings from Alternative FICA $175,000 TOTAL RECURRING DOLLARS $11,789,779

FUNDING SOURCES FOR NON-RECURRING ALLOCATION 2013/2014  Callback and Other Reserve Carryover $4,100,000  Prior Year Balance (Unallocated) $1,450,000  Unspent Funds, Salary Savings $1,450,000  Interest $400,000 TOTAL NONRECURRING DOLLARS $7,400,000

RESERVES .  State Call-Back $403,635 Recurring $3,585,688 Non-recurring  Reserve for Enrollment Shortfall $1,849,725  Tuition Increase Reserve $729,047 Recurring  Executive Reserve $200,000 Recurring $400,000 Non-recurring

NEW ALLOCATIONS FOR 2013/2014 .  Employee Raises $1,222,500  Hire Music Assistant Professor $70,000  Background Checks $57,500  Divisional Allocations $800,000

ACTUAL & PROJECTED FTE .  2010/2011 Actual FTE 10,385  2011/2012 Actual FTE 10,428  2012/2013 Actual FTE 10,349 Below Target 251  2013/2014 Target FTE 10,400 College of Arts & Sciences 3,570 Coggin College of Business 1,542 Brooks College of Health 1,337 College of Education & Human Services 1,003 College of Computing, Engineering & Construction 537

GOAL 1 Cultivate a learning environment that supports intellectual curiosity, academic achievement and personal growth.

ACCOMPLISHMENTS FOR GOAL 1 Our freshman student profile continues to climb.

ACCOMPLISHMENTS FOR GOAL 1  While we hired 10 new faculty members for 2012-2013, the net total went down by 9.  27 of these faculty were supported by the 2012-2013 increase in tuition differential.  A total of 90 faculty were supported by all of the tuition differential increases.

ACCOMPLISHMENTS FOR GOAL 1 We have been using more tenure and tenure-earning faculty.

ACCOMPLISHMENTS FOR Goal 1  Our freshman-to-sophomore retention rate climbed from 81.4% for fall 2010 admits to 83.0% for fall 2011 admits.  Our freshman-to-junior retention rates slipped from 70.2% for 2009 admits to 68.4% for fall 2010 admits .

ACCOMPLISHMENTS FOR GOAL 1 Freshman Year Experience  Instituted mandatory freshman housing.  Common philosophy course for FTIC students – develop critical thinking.  New Osprey Advantage Courses – introduces freshmen to their major and the faculty in their major.  Student Passport – a passport that is stamped when students attend cultural events, evening lectures, athletic events.  Expanded learning-living communities where students live with peers in the same major.

ACCOMPLISHMENTS FOR GOAL 1 Overall Student Experience  Doubled student-life activities.  Started tailgating experiences.  In 2011/2012 we had 64 members in Osprey Nation.  In 2012/2013 that grew to 951 members.

ACCOMPLISHMENTS FOR GOAL 1 We increased the number of distance-learning courses from 356 to 400 over the past year.

INITIATIVES FOR GOAL 1  In 2013/2014 we will fully implement a student virtual lab, giving students access to statistical and other software programs from home and other distant sites.  In 2013/2014, we will be operating full-force with our data analytics program.  In 2013/2014, we anticipate a 12 to 14% increase in distance-learning courses.

INITIATIVES FOR GOAL 1  We will hire 6.5 additional positions to assist with development and support in on-line learning (funded through the distance-learning fee approved last year).  In 2013/2014, we anticipate recruiting on 28 tenure- earning lines for 2014/2015.  Working to increasing freshmen connectivity and bonding:  Incoming freshman café  40 days/40 night program

RECOGNITIONS FOR GOAL 1  The Princeton Review once again rated UNF as one of the “Best Value” public colleges and universities in 2013.  U.S. News and World Report named UNF among the best regional colleges in 2013.  The Coggin College of Business has been named an outstanding business school, according to The Princeton Review for the 6 th consecutive year.  Forbes ranked UNF among the Best Colleges in America.

GOAL 2 Recruit and support a diverse community of students, faculty and staff who will contribute to, and benefit from the university’s mission.

ACCOMPLISHMENTS FOR GOAL 2  UNF had growth in minority representation among students, staff and faculty in 2012.  There continues to be an upward trend among students in particular.

ACCOMPLISHMENTS FOR GOAL 2  African American students remain at UNF into their sophomore and junior years at rates higher than for the overall population.  This is not true for Hispanic students.

ACCOMPLISHMENTS FOR GOAL 2  Continued to fund Commission on Diversity.  Coordinated with MOSH on RACE exhibit.  Upgraded position and hired a new director for Lesbian, Gay, Bisexual and Transgender Resource Center. Position funded by anonymous donor.  Coordinate activities between OneJax and 2 on- campus centers:  Interfaith Center  Center for Intercultural Peace

GOAL 3 Support and recognize research and creative endeavor as essential university functions.