GSW BUDGET PRESENTATION FY 2015 Special Thanks Dr. Alan Parks - PowerPoint PPT Presentation

GSW BUDGET PRESENTATION FY 2015

Special Thanks  Dr. Alan Parks Work on E&G Budget and inputting info for all of BOR Reports  Colette Long Payroll and Position Management – 75% of budget  Polly Conger Restricted/Grants Budget  Jeff Hall Student Activities Budget  Amber DeBaise Auxiliary Budget

FY 2015 Highlights  Tuition Rate Increase of 2.5%  Budgeted for flat enrollment – hopefully much too conservative  Net overall increase of $98,117 in state appropriations but did get a significant enrollment cut  Overall split for E&G budget – 46% State / 54% Tuition and fees

Highlights continued  All benefited and certain part – time employees making less than $100K were given a $500 retention adjustment  1% salary pool was distributed to Presidential direct reports and Deans to allocate on merit basis  Raises would go into effect July 1 for staff / admin and August 1 for faculty  This is the tightest original budget in 15 plus years  In order to have any year end funds available for FY 2015 or to cover several needed items, we need an increase in enrollment

Salary Adjustments - 2014 and 2015  FY 2014 - $1,005 retention adjustment = approximately $300K in salary and benefits  FY 2015 - $500 retention adjustments plus 1% merit = approximately $300K in salary and benefits  GSW has given over $600K in retention / merit adjustments in last 2 years while receiving only $103,119 from state to cover these increases  Future raises dependent/relate to enrollment and tuition increases

Detail of State Appropriations FY 2014 State Appropriation Base $11,931,126 M&O Increase (Square footage) 19,556 TRS Increase 115,342 Health Insurance 98,600 Merit Pay 103,119 Enrollment Adjustment (238,500) FY 2015 Base $12,029,243

Total E&G Budget State Appropriations (Fund 10000) $12,029,243 Tuition (Fund 10500) 12,187,860 Other Fees (Fund 10600) 1,948,700 Total E&G Budget $26,165,803 increase of 2.1% or $ 546K from FY 2014

Total Overall Budget E&G Budget $26,165,803 Restricted Budget 8,747,205 Technology 420,000 Auxiliary 9,849,625 Minor Budgets 110,000 Student Activities 537,000 Capital Budget 5,000 Total Budget $45,834,633 Easily $50 plus million flow thru our books when you add certain loan $’s that go directly to students

Retirement Rate Changes FY 2014 FY 2015 TRS Employer (GSW) 12.28% 13.15% Portion -7% change TRS Employee Portion 6 % 6 % ORP Employer (GSW) 9.24% 9.24% Portion ORP Employee Portion 6 % 6 %

Detail of Fees Institutional Fee $ 242 Health Service 70 Activity 65 Athletic 205 Technology 50 Student Success Center 33 Parking 18 Total Fees $ 683 Only Fee increase approved was Athletic by $ 15 – Lowest overall fees of 10 schools in our sector

Detail of Tuition  Resident Undergraduate - $158 per credit hour – max @ 15 hours is $2,370  Resident Graduate - $179 per credit hour  E-Tuition Undergraduate - $210 per credit hour  E-Tuition Graduate - $250 per credit hour

Departmental Budgets that are Short Related to Operating $ - FY 2015  Advertising  Instructional Departments Operating Funds  Registrar – Cover Degree Works  Disability / Testing  Library  Retention / CCG  Instructional Technology

Capital Projects  Fine Arts Renovation – Summer of 2014 and Summer of 2015  Renovation of GSW Dam - started  Canes Den Renovation for Chick – fil-A and Boars Head -started  Further HVAC work in Business History Bldg  Baseball Concession Stand / Restrooms – Private $’s – Summer 2015

Year End Request - FY 2014  Roney 301 Renovation  IT Related – Blue Cat Network  Store Front Doors  Clay and Glass – Fine Arts  Carpet Library  Piano (s)  Technology in CIS  Equipment – Fine Arts Building  Morgan Hall – Correct Moisture Issues