Unive rsity Budg e t Pro c e ss Pre se nte d b y the Ac a de mic Affa irs Divisio n Pro vo st Be nso n a nd Mr. J.W. Mye rs No ve mb e r 8, 2012
I. University Budget/Overview • GOVERNMENTAL ACCOUNTING – Required to keep collected funds separately – Account for their expenditures separately – Specific purpose/reason to exist – Reserves – unused funds-may not be allowed or may be restricted • FUND ACCOUNTING • FISCAL YEAR-END • Public Perception
II. University Budget Timeline Date Event Six – Year Institutional Plan Submitted to SCHEV July August Activity Base Budget Submitted to Department of Planning and Budget (DPB) September DPB Issues Funding Request Instructions Institutional Funding Requests Submitted to DPB Budget Management Issues Requests for Central Costs and Initiatives October Board of Visitors Meeting November Governor, DPB, and Cabinet Review Funding Requests Governor’s Amended 2012 -14 Biennium Budget Submitted to General Assembly December General Assembly (GA) Session Convenes January University Amendments Submitted to GA Board of Visitors Meeting February E&G and Auxiliary Initiative Submitted to Office of Budget Management Divisional Budget Discussions and Presentations Conference Committee Reports March General Assembly Session Ends Budget Management Provides Tuition and Fee Information to Executive Mgmt Governor Signs Appropriation Act April Board of Visitors meeting Final Decisions Regarding New Funding Distribution Final Review by Executive Management May Completion of Internal Operating and Personnel Budgets June Board of Visitors meeting DPB & Agencies Implement Appropriation Act
Chain of Command GOVERNOR LEGISLATURE BOARD OF VISITORS Accrediting Organizations SCHEV Department of Education Federal Government PRESIDENT Students Parents/General Public University Management VP’s A VP’s, Deans Department Heads Faculty Staff Classified
Types of University Operating Budgets • Education & General (E&G) Budgets (1 s) – Annual budget funded through the Commonwealth general fund & non- general funds • Auxiliary Enterprise Budgets (3 s) – Annual budget funded only from non-general funds and does not receive any state support • Others Student Financial Assistance Grants & Contracts/Sponsored Programs Capital Other University ETF Foundation
Terminology • Non General Funds – tuition, room, board, comprehensive fee, sales and services • General Funds – appropriated from the state = tax dollars
Fund Sources James Madison University Operating Capital Projects General Fund Non-General Fund Debt Auxiliary Sponsored Educational and Student Enterprises Programs General Financial (3X) (5X) Programs (1X) Assistance General Fund General Fund Fees Federal Agencies Tuition & Fees Tuition & Fees Sales & Services State Agencies Indirect Cost Counties & Cities Private industry Overhead
Programmatic Structure James Madison University Operating Capital Projects Educational Student Auxiliary Sponsored and General Financial Enterprises (3x) Programs (5x) Programs (1x) Assistance Instruction Scholarships Residential Prog Grants Research Fellowships Dining Prog Contracts Public Service Athletics Academic Support Parking & Student Services Transportation Institutional Support Telecommunication Oper & Maint of Plant Student Health Student Unions & Recreational
James Madison University General Fund Appropriations Per In- State Annual FTE Student Educational and General Updated: May 30, 2012 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 General Fund Appropriation Per Act* CH 951 CH 847 CH 847 CH 781 CH 781 CH 874 CH 879* CH * Education and General 72,343,681 76,504,635 77,821,713 78,821,713 67,043,881 63,577,853 61,715,667 66,728,837 Final General Fund Appropriation 72,343,681 76,504,635 77,821,713 78,821,713 67,043,881 63,577,853 61,715,667 66,728,837 JMU Actual Enrollments 2006-11, 2012 Projected** 11,727 11,973 12,348 12,755 13,085 13,555 13,992 14,364 General Fund Per Instate Annual FTE Student $ 6,169 $ 6,390 $ 6,302 $ 6,180 $ 5,124 $ 4,690 $ 4,411 $ 4,646 Change over prior year $ 221 $ (88) $ (122) $ (1,056) $ (434) $ (279) $ 235 Change from FY 2005-06 $ (1,758) $ (1,523) * Including Permanent Central Transfers and Does Not Include Annual Interest Yield and One-time Salary/Fringe Changes ** Projected Annual FTE per Institutional Research as of 1-7-12
Funding Picture
Education & General Funding Shift FY 2013 FY 2006
Consumer Price Index Consumer Price Index Virginia Undergraduate: 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 Tuition & Mandatory E&G Fees 1,586 1,728 2,420 2,752 2,998 3,228 3,420 3,556 3,734 4,182 4,642 4,862 Tuition & Mandatory E&G % Change 9.0% 40.0% 13.7% 8.9% 7.7% 5.9% 4.0% 5.0% 12.0% 11.0% 4.7% Comp Fee 2,508 2,560 2,638 2,724 2,888 3,062 3,246 3,408 3,510 3,678 3,806 3,946 Comp Fee % Changes 2.1% 3.0% 3.3% 6.0% 6.0% 6.0% 5.0% 3.0% 4.8% 3.5% 3.7% Total Commuter 4,094 4,288 5,058 5,476 5,886 6,290 6,666 6,964 7,244 7,860 8,448 8,808 Room & Board 5,458 5,568 5,736 5,880 6,124 6,496 6,836 7,172 7,386 7,700 8,008 8,288 R&B Percentage Change 2.0% 3.0% 2.5% 4.1% 6.1% 5.2% 4.9% 3.0% 4.3% 4.0% 3.5% Total On-Campus 9,552 9,856 10,794 11,356 12,010 12,786 13,502 14,136 14,630 15,560 16,456 17,096 3.2% 9.5% 5.2% 5.8% 6.5% 5.6% 4.7% 3.5% 6.4% 5.8% 3.9% CPI % Change 2.28% 2.66% 3.39% 3.23% 2.85% 3.84% -0.36% 1.64% 3.16% 2002-03 - 2010-11 CPI % Change Average 2.52% 2002-03 - 2010-11 Comp Fee % Change Average 4.4% 2002-03 - 2010-11 R&B % Change Average 3.9%
1990-91 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 Virginia Undergraduate: Tuition & Mandatory E&G Fees 1,462 1,598 1,742 1,830 1,878 1,932 1,940 1,940 Comp Fee 1,600 1,700 1,834 1,968 2,022 2,082 2,164 2,208 Total Commuter 3,062 3,298 3,576 3,798 3,900 4,014 4,104 4,148 Room & Board 3,908 4,102 4,284 4,400 4,544 4,576 4,666 4,842 Total On-Campus 6,970 7,400 7,860 8,198 8,444 8,590 8,770 8,990 NonVirginia Undergraduate: Tuition & Mandatory E&G Fees 4,545 4,950 5,406 5,682 5,972 6,212 6,416 6,608 Technology Fee - - Comp Fee 1,600 1,700 1,834 1,968 2,022 2,082 2,164 2,208 Total Commuter 6,145 6,650 7,240 7,650 7,994 8,294 8,580 8,816 Room & Board 3,908 4,102 4,284 4,400 4,544 4,576 4,666 4,842 Total On-Campus 10,053 10,752 11,524 12,050 12,538 12,870 13,246 13,658 Tuition & Mandatory E&G Fees 1,462 1,598 1,742 1,830 1,878 1,932 1,940 1,940 Comp Fee 1,600 1,700 1,834 1,968 2,022 2,082 2,164 2,208 Total Commuter 3,062 3,298 3,576 3,798 3,900 4,014 4,104 4,148 Tuition & Mandatory E&G Fees % of Total Commuter Cost Comp Fee % of Total Commuter Cost
1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 Virginia Undergraduate: Tuition & Mandatory E&G Fees 1,982 1,586 1,586 1,586 1,728 2,420 2,752 2,998 Comp Fee 2,274 2,340 2,414 2,508 2,560 2,638 2,724 2,888 Total Commuter 4,256 3,926 4,000 4,094 4,288 5,058 5,476 5,886 Room & Board 5,008 5,182 5,290 5,458 5,568 5,736 5,880 6,124 Total On-Campus 9,264 9,108 9,290 9,552 9,856 10,794 11,356 12,010 NonVirginia Undergraduate: Tuition & Mandatory E&G Fees 6,786 7,016 7,260 7,922 8,734 10,464 11,696 12,434 Technology Fee 196 176 176 176 178 178 - - Comp Fee 2,274 2,340 2,414 2,508 2,560 2,638 2,724 2,888 Total Commuter 9,256 9,532 9,850 10,606 11,472 13,280 14,420 15,322 Room & Board 5,008 5,182 5,290 5,458 5,568 5,736 5,880 6,124 Total On-Campus 14,264 14,714 15,140 16,064 17,040 19,016 20,300 21,446 Tuition & Mandatory E&G Fees 1,982 1,586 1,586 1,586 1,728 2,420 2,752 2,998 Comp Fee 2,274 2,340 2,414 2,508 2,560 2,638 2,724 2,888 Total Commuter 4,256 3,926 4,000 4,094 4,288 5,058 5,476 5,886 Tuition & Mandatory E&G Fees % of Total Commuter Cost 40.3% 47.8% 50.3% 50.9% Comp Fee % of Total Commuter Cost 59.7% 52.2% 49.7% 49.1%
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