FY17 Preliminary Education & General Budget Starting the Discussion Claire Strickland Jeffrey E. Hecker Susan J. Hunter Chief Business Officer Executive Vice President for Academic Affairs & President Ryan Low Provost System CFO November 9, 2015 FY17 Campus Budget Presentation November 9, 2015
Agenda • Organizational Chart • Key Principles • Timeline – FY2017 & FY2018 • Enrollment Changes – Historical & Projected • Preliminary Enrollment Plan for Fall 2016 • FY2016 New England Land Grant Prices • FY16 E&G Budget • FY17 Projected Costs & Revenue Adjustments • Next Steps November 9, 2015 FY17 Campus Budget Presentation
Organizational Chart
Key principles in decision making • Principles and process will be transparent • Feedback/input will be encouraged throughout the budget development process • Not solely a budget reduction exercise. Balance reductions with investments in key areas related to the university’s strategic priorities • Minimize the impact on student learning, research, and enrollment • Minimize impact on employees November 9, 2015 FY17 Campus Budget Presentation
Key Dates - Timeline FY17 Budget Prep 2 0 1 5 2 0 1 6 July Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun 1 st iteration • FY17 budget Finalize Initial Campus Consolidated BOT final preliminary campus materials to of FY17 FY17 Budget budget & budget CBO’s FY17 Gap budget & budgets MYFA review approval Development MYFA updated by BOT • Review of review by into (FF&T) allocations & BOT MaineStreet assumptions (FF&T) by 01/31/16 • Enrollment management Develop draft FY17 update consolidated budget FY18 Unified Budget 2 0 1 5 2 0 1 6 July Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun Work with CBO’s & • Gather feedback and narrow options President’s to discuss 6 • Create sub teams to develop specific policies for implementation financial policy areas • Present to BOT • Seek input from constituencies and create viable options with details • Implement new policies required under unified budget model
Enrollment Data C REDIT H OUR E NROLLMENT C HANGES Fall Census Data T OTAL 136,477 132,181 129,049 128,192 133,310 135,965 134,609 134,902 134,902 Undergraduate 120,000 125,898 125,673 125,947 123,992 122,767 119,892 117,417 117,065 100,000 80,000 Projected 60,000 40,000 20,000 12,485 12,289 11,632 10,543 11,127 10,067 8,936 8,955 Graduate 0 2009 2010 2011 2012 2013 2014 2015 2016 November 9, 2015 FY17 Campus Budget Presentation
UMaine Undergraduate Degree-Seeking Enrollment and Projected Maine High School Graduates (2000 – 2025) Fall 2003 Fall 2015 % Headcount: 8,219 Headcount: 8,677 Change from FTE: 7,392 FTE: 8,127 2000 Credit Hours: 110,879 Credit Hours: 121,907 30% 25% 20% 15% 10% 5% 0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 -5% Ugrad Deg. Fall Credit Hours H.S. Grads (WICHE) -10% Source: Western Interstate Commission for Higher Education (WICHE, 2012)
Unpacking Undergrad In-State/Out-of-State Credit Hours % Fall 2015 Change from Out-of-State 2000 Credit Hours 110% 35,139 Fall 2003 90% Out-of-State Credit Hours 70% 18,252 50% Fall 2003 Fall 2015 In-State In-State Credit Hours 30% 92,627 Credit Hours 86,768 10% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 -10% Ugrad Deg. Fall In-State Credit Hours Ugrad Deg Fall Out-of-State Credit Hours H.S. Grads (WICHE) Source: Western Interstate Commission for Higher Education (WICHE, 2012)
Ratio of In-State/Out-of-State Students Fall 2015 New England Land UMaine Increase in Out-of-State Undergraduate Grant Universities Degree-Seeking Students 28% 26% Out-of-State In-State 28% 72% 20% 22% 17% 18% 29% 71% 48% 52% 39% 61% 23% 2010 2011 2012 2013 2014 2015 77% Increase of 11 % points over 6 years 25% Average SAT First 24%76% First-year Class 45% 39% 1087 75% 55% Year 64% In-State 61% Class Average HS GPA 36% Out-of-State Profile 3.27
Preliminary Enrollment Plan for Fall 2016 * All Students First-year 10,889 Incoming 8,739 Students FY17 2,150 Potential Total FY17 2,047 Projected Projected Revenue Projected Credit Hours Variance 272,942 + $3M 2,150 Fall Fall Fall 2015 2016 2016 Headcount * Estimates – for discussion and consideration
New England Land Grant Universities 2015-2016 U NDERGRADUATE T UITION , F EES , R OOM & B OARD C OMPARISON $45,000 Out-of-State In-State R&B $39,130 $40,000 $34,908 $35,000 $30,504 $30,256 $28,880 $28,852 $30,000 Lowest $25,000 combined cost In-State and $20,000 Out-of-State $16,986 $16,738 $14,171 $15,000 $13,366 $12,862 $10,610 $10,000 $11,956 $11,888 $11,776 $11,180 $10,620 $9,576 $5,000 $0 UVM UConn UMass URI UNH UMaine Total In-State $27,918 $25,254 $25,947 $24,818 $27,606 $20,186 Tuition + R&B Total Out-of-State $50,310 $46,796 $42,280 $40,808 $40,876 $38,456 Tuition + R&B
What Students Actually Pay for College 30 UNH $29K New England $26K Land Grant Universities UConn 25 URI $24 UMass $22K UVM $21K $21K UMaine 20 $19K $19K $18K Net Price $18K $17K UNH $17K $15K $16K 15 UConn $14K $14K $13K UMaine $13K URI $12K UMass $12K $11K 10 UVM 5 Data reflect students who received financial aid from the federal government. Public school prices are for in-state students. We included schools where the predominant degree granted is a four-year bachelor's degree. Trade-specific schools and religious programs like seminaries and yeshivas were removed. Figures are rounded to the nearest thousand. Source: Dept. of Education: College Scorecard 0 $0-$30K $30-$48K $48-$75K $75-$110K $110K+ Household Income
FY16 E&G Revenue & Expense $242.4M E&G Expenditures Scholarships (does not include $13.2M in depreciation) $40.2M 62.6% Compensation & Benefits $151.8M 16.6% E&G 20.8% Revenue All Other Tuition & Fees 3.9% Fuel & Electricity $9.5M (Net of $3.0M waivers) 2.5% Capital $6.0M $139.2M 2.6% Library Acquisit. $6.2M 4.7% Shared Services $11.4M 57.4% 1.2% Travel $2.9M 32.0% 5.9% Other $14.4M $50.4M Unrestricted 7.1% 3.5% State Appropriation $77.5M Sales/Transfer/ Indirect Costs Other $8.4M $17.3M
FY17 Projected Costs & Revenue Adjustments C AMPUS P RIORITIES Compensation (net of FY16 Base) $2,850,000 Utilities 300,000 Signature & Emerging Areas 450,000 Foundational Areas 1,250,000 Other Academic Priorities (Rising Tide, Partner Accommodations, 600,000 Library Journals, Explorations, Art Museum, etc.) Research Incentives 125,000 Financial Aid 2,000,000 $7,575,000 Potential Revenue Variance (3,000,000) Campus Priorities Gap $4,575,000
FY17 Projected Costs & Revenue Adjustments S YSTEM - WIDE P RIORITIES University Services NET of incremental State Approp. $1,757,000 Funded Depreciation 710,000 Insurance 133,000 System-wide Priorities Gap $2,600,000 Campus Priorities Gap $4,575,000 Total Gap $7,175,000 November 9, 2015 FY17 Campus Budget Presentation
Next Steps 1. Refine revenue/expense gap over the next 3 months 2. Preliminary gap targets assigned to VP’s, Deans, Directors this week 3. December 7: FY18 One University financial presentation, Ryan Low 4. January 20: Budget Update 5. Process for Input Web Survey – umaine.edu/president Email – umpresident@maine.edu or Email – umcbo@maine.edu
Campus Community Survey Questions umaine.edu/president
Questions? November 9, 2015 FY17 Campus Budget Presentation
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