1 Chairs Retreat Budget Update FY 2015.
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Transcript of 1 Chairs Retreat Budget Update FY 2015.
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http://mubudget.missouri.edu/
Chairs Retreat Budget Update
FY 2015
Operating FundTargeted Tuition & Student FeesFederal AppropriationsTargeted State AppropriationsGrants & ContractsGifts, Endowment & Investment IncomeEnterprise Operations
Total Revenue
$574M 108M
17M 37M
163M 73M
1,198M
$2,170M
26.4%5.0%0.8%1.7%7.5%3.4%
55.2%
100%
Fiscal Year 2015
Funding Sources
“Enterprise” Operations
Hospitals & ClinicsUniversity PhysiciansAthleticsUniversity StoresResidential LifeCampus DiningVeterinary MedicineResearch ReactorAgricultureParkingKOMUOffice of Research/Patent & RoyaltyOther
$739M162M
56M53M47M30M15M14M
9M8M7M4M
54M
$1,198M
61.7%13.5%
4.7%4.5%3.9%2.5%1.2%1.2%0.8%0.6%0.6%0.3%
4.5%
100%
General Operating SourcesTotal: $574M
Operating Fund
• State Appropriations $182M
• Tuition $355M
• Indirect Cost $37M
Salaries and WagesBenefitsOperating Expenses
Total Expenses
61%18%
21%
100%
Fiscal Year 2015
Operating Fund Expenses
19901995
20002005
20102015
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
62%
32%
6%
INDIRECT COST
27%
70%
3 %
Change in General Operating Funding Sources
TUITION
STATE SUPPORT
Tuition & Fee Comparison2013 – 2014
Institution
AAU PublicAAU Public & PrivateSEC Big TenBig XII
University of Missouri-Columbia
Average
$11,383 $25,385 $11,296 $14,565
$13,895
$9,415
Lowest
$6,263 $6,263 $6,263 $8,061 $6,456
Highest
$17,100 $49,138 $42,978 $45,527 $36,590
Combined Tuition & Fees
Source: U.S. News Best Colleges 2012
Strategic Operating Plan
• Five year plan 2014 to 2018
• Drives how new state funds will be allocated
• Identifies our priorities as a campus
• All significant resource decisions will be related to the plan
Strategic Operating Plan
1. Strengthen interdisciplinary and experiential learning for Mizzou’s undergraduate, graduate, and professional students
2. Recruit, develop, and retain faculty and staff in order to promote MU’s strategic goals
3. Grow MU’s high-impact research and creative activity by enhancing campus infrastructure and other resources
4. Ensure that MU’s revenue model allows for strategic investments and leverages MU’s strengths to drive state and regional economic development
Strategic Plan Report
Status: FY14 planned expenditures = $55M
FY14 actual expenditures = $67M
Next: Measure results against goals
Communicate results
Adjust FY15 plan based on results
Strategic Plan Update
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Current year (FY14) Adjustments
• Discontinued NTT research hiring (2.1.2)
• Began integration of Mizzou Advantage with
SOP
Strategic Plan Adjustments
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Done through a substantial adjustment to scholarship policies for AY15 admissions.
Current projections of measured results:• Increase in high ability students
• Current estimate is a 25% increase in 30+ ACT students/slightly more than 200 students
• Positive impact on overall enrollment• $5.5M increase in scholarship expenditures
Lever 1.3 Recruit and Retain Best Students
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20 New “Signature” Faculty will be hired over the next 4 years
• Medicine – 5• Health Sciences – 2• Physical Sciences – 4• Life Sciences (Plant) – 4• Engineering – 4• Journalism (New Media) – 1
Lever 2.1 Future Faculty Hiring
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Faculty hiring—Deeper Topical Dive
• Medical & Health Sciences– Epigenetics (1)– Microbiome (1) – Health Outcomes-Medical
Informatics (1)– Neuroscience-Brain Imaging-Rehab
(1)– Psychology-Addiction (1)
• Physical Sciences– Chemistry
• Inorganic (1)• Theoretical (1)
• Plant-Life Sciences– Plants Stress (2)– 4 joint-hires with the Danforth Plant
Sciences Center (2)
Big Data Computational Methods (1)Bio-informatics (1)Social Science (Demography?) (1)Geography/Geospatial (1)Journalism/New Media (1)
EngineeringEldercare (1)Nuclear Hardened Materials (1)Nanotechnology (1)Biomedical (1)
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Internal reallocation for merit increases• Same expectation as last year that departments
self fund these increases• We anticipate achieving about the same level
of increases as last year
Other actions• Merit increases for high-performing faculty• Faculty promotion increases will be provided
centrally by the campus
Lever 2.3 Faculty and Staff Compensation
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