Budget Committee December 3, 2018
Fall Enrollment and the Fiscal Impact for FY19 Revenues FY19 Budget FY19 Estimate Impact Tuition & Fees $ 7,761,583.00 $ 7,437,000.00 $ (324,583.00) State Formula Allocation $ 6,832,055.00 $ 6,832,055.00 $ - 6-Mil Levy $ 898,307.00 $ 898,307.00 $ - Other $ 361,475.00 $ 361,475.00 $ - Total $ 15,853,420.00 $ 15,528,837.00 $ (324,583.00) Note: FY19 Revenues were based on a total enrollment of 1395 annualized FTE. The most recent enrollment numbers (fall census) represent an annualized FTE estimate of 1330*. (This appears to have slipped but too early to tell) * Not an official estimate/projection
Managing the Shortfall for FY2019 • Revenue generation opportunities? • Reduction in expenses Variable Costs FY2019 Budget FY2019 Actual YTD FY2019 Encumbered FY2019 Available % YTD (42%) Capital Equipment $ 56,643.00 $ 38,961.49 $ - $ 17,681.51 69% Communications $ 172,273.00 $ 88,234.45 $ 22,286.00 $ 61,752.55 64% Contracted Services $ 553,295.00 $ 372,178.95 $ 70,766.33 $ 110,349.72 80% Cost of Goods Sold $ - $ 1,014.44 $ - $ (1,014.44) #DIV/0! NonMandatory Transfer Out $ 232,000.00 $ 113,010.00 $ - $ 118,990.00 49% Other $ 208,181.00 $ 111,406.31 $ - $ 96,774.69 54% Repairs & Maintenance $ 196,743.00 $ 104,801.80 $ 25.67 $ 91,915.53 53% Supplies $ 390,605.00 $ 180,919.15 $ 3,386.27 $ 206,299.58 47% Termination Benefits $ - $ 34,409.17 $ - $ (34,409.17) #DIV/0! Termination Pay $ - $ 28,276.19 $ - $ (28,276.19) #DIV/0! Travel $ 426,437.00 $ 261,366.83 $ - $ 165,070.17 61% Utilities $ 309,695.00 $ 104,672.75 $ - $ 205,022.25 34% Waivers & Scholarships $ 1,030,243.00 $ 475,289.49 $ - $ 554,953.51 46% Grand Total $ 15,853,420.43 $ 5,838,682.64 $ 7,282,192.58 $ 2,732,545.21 83% Salary savings will need to cover the bulk of the FY2019 shortfall
Keeping Our Eye on 2020-2021 The following are key revenue elements that have yet to be determined. Each will play a major role in the outcome of our funding for the next biennium: Enrollment • 6-Mil Levy (PASSED) • Allocation model and potential changes • Performance Funding • Present Law Adjustment • Annualization of pay increases • Any possible tuition and/or fee increases • The major expense category that will require monitoring and adjustment is personnel expenses.
2019 Estimated 2019 Estimated 2020 Adjusted 2020 Estimated E Resident Enrollment Tuition Revenue Enrollment Tuition Revenue Fall 978.79 $ 2,186,971.18 919.1208439 $ 2,078,591.79 N Spring 880.402579 $ 1,967,138.07 836.9199178 $ 1,892,694.39 Summer 112.64 $ 251,678.54 111.644 $ 252,482.91 R Total 1971.832579 $ 4,405,787.78 1867.684762 $ 4,223,769.09 Non Resident Fall 63.12 $ 496,200.18 56.36690497 $ 448,494.55 O Spring 52.76079914 $ 414,764.23 48.05602202 $ 382,367.35 Summer 4.39 $ 34,510.75 3.952 $ 31,444.88 L Total 120.2707991 $ 945,475.16 108.374927 $ 862,306.78 WUE L Fall 266.86 $ 894,432.31 257.9702593 $ 875,099.61 Spring 247.0958091 $ 828,188.85 240.1587441 $ 814,678.50 M Summer 14.13 $ 47,359.40 14.82 $ 50,273.15 Total 528.0858091 $ 1,769,980.56 512.9490033 $ 1,740,051.26 E All Categories Fall 1308.77 $ 3,577,603.68 1233.458008 $ 3,402,185.95 N Spring 1180.259187 $ 3,210,091.14 1125.134684 $ 3,089,740.24 Summer 131.16 $ 333,548.69 130.416 $ 334,200.93 T Total 2620.189187 $ 7,121,243.51 2489.008692 $ 6,826,127.13 FTE 1310.094594 1244.504346
PERFORMANCE FUNDING Raw Data 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 Undergraduate Degrees Awarded 275 255 292 383 452 419 Under-represented groups 327 266 297 373 443 374 Retention 73% 73% 72% 75% 68% 67% Under-represented groups 72% 72% 67% 71% 65% 61% Dual Enrollment 2 30 16 44 48 3-year Averages Undergraduate Degrees Awarded 275 265 274 310 376 Under-represented groups 327 297 297 312 371 Retention 73% 73% 72% 73% 71% Under-represented groups 72% 72% 70% 70% 67% Dual Enrollment 16 16 30 Performance funding represents over $600,000 in the state allocation for UMW
Personnel/Enrollment Tracking 180 1600 160 1400 140 1200 120 1000 100 800 80 600 60 400 40 200 20 0 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Student FTE Employee FTE Poly. (Student FTE)
Personnel Expenditure Ratio UM Missoula Great Falls Helena Western MSU Northern MT Tech MSU Billings MSU Bozeman 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Personnel All Other
Budget Benchmarks, Standards, & Procedure • Personnel Ratio below 80% ? • Target a percentage of the budget to go to Instruction? • Establish an institutional overhead rate target? • Set aside a % of the budget for strategic initiatives? • Develop and publish a standardized, budget dashboard? • Establish internal procedure to centralize contingency funds and regulate the distribution?
Recommend
More recommend
