Budg udget et For Forum share our progress towards this year’s budget targets, • provide a preview of next year’s budget outlook, • describe the budget calendar and development process we’ll be using, and • explain how you will participate and stay informed along the way. •
Thi his ye year’s b budget ta targe gets Our status at the half-way point… President Schulz charged the Tri Cities campus meeting a budget target this year (FY2019) of -$400k. Looking at our ‘burn rate’ as of December 31, it appears we have a shot at achieving this . For FY2019, departments were asked to hold spending to last year’s levels (FY2018). The Chancellor’s office is scrutinizing every vacancy, replacement and new hire to create savings wherever possible.
FY1 Y19 P PBL B L Budget et Non-Sal Salar ary/Bene nefits Bud udget t Reduct ctions ns (in thousands) Unit Total Reduction Academic Affairs $121 Chancellor N/A Finance & Admin $57 Student Affairs & Outreach $21 Total $199 Target et r red educ uction ons a s achieved eved – Reduced to prior year spending levels
Original Final Budget Budget Primary Expenditure Allocation $20.2 $20.2 Reductions: Non-Salary/Benefit Transfer to Reserves -.2 -.3 • Reductions: $199K Expenses -22.0 -21.0 Advancement • Vacancies: $144K (Deficit) $-2.0 $-1.1 ICB: $86K • Target $-400K deficit – reduce spending by $700K Nursing Vacancies: • $451K
12/31/18 Where have we underspent so far? F&A OH and One-time Costs: $300K • Actual % Final • AA Goods & Services/Travel: $200K 12/31/18 Spent (in millions) Budget ICB Rent: $100K • Salary/Benefits $16.7 $7.9 48% • Advancement: $100K Non-Salary/Benefits 4.3 1.4 32% • Admissions: $100K Total $21.0 $9.3 44%
Total PBL FY19 through Dec 31, 2018 (in Millions) Favorable! Spent $470K less than last 9.80 year at the TOTAL halfway 9.33 point! 0.76 STUDENT AFFAIRS & OUTREACH 0.58 Comparison 2.15 FINANCE & ADMIN of 2.17 FYTD 19 1.40 to CHANCELLOR 1.17 FYTD 18 5.48 ACADEMIC AFFAIRS 5.42 - 2.00 4.00 6.00 8.00 10.00 12.00 FYTD 12/31/17 FYTD 12/31/18
Excludes: Grants, 17A and S&A
Nex ext y yea ear’s ’s b bud udget out outlook It’s still very early in the year to make meaningful predictions about revenues and expenses for 2019-20… Compensation – A State-funded salary increase would come from the legislature in their 2019-2021 biennial budget. WSU requested funding for two 4% increases. Tuition Rates – Not aware of plans for a tuition increase. WSU Regents may propose an increase tied to inflation. But that could be blocked by the legislature. Enrollment Trends – Fall enrollment stabilized with a 3% decrease. It is too early to predict enrollment for 2019-20 . 1% decrease in enrollment = -$100K Budget Target – The President’s Financial Recovery Plan target for Tri-Cities is to break-even. Other – Continue to defer costs for non-critical facility maintenance/operations. And we are committed to fully funding our Nursing and Advancement departments.
Budg dget et c calen endar and d d deve velopm opmen ent
Yo Your r ur role e - pa participate a and nd stay i inf nformed? Attend the budget updates. Participate in conversations about resource allocation in your area. Bring your ideas and concerns. And advocate for your priorities inform your area request. Attend budget hearings. Listen and understand the rationale for budget requests. When the draft budget is complete, it will be posted and presented in a final forum. Bring your questions and make comments in person, via email or online. Invite Robin Stanco and/or Ray White to come and talk to your department or visit us in person with your questions and concerns.
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