Board of Trustees
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Transcript of Board of Trustees
1
Board of Trustees
May 21, 2012
Operating Budget
Fiscal Year 2013
2
DiscussionDiscussion
‣Background– State funding of Higher Education and impact on CSM
– Revenue/Expense History
‣Fiscal Year 2013 Budget– Current Unrestricted Fund
– Designated, Restricted and Endowment Funds
– CSM Foundation Budget
3
Higher Education Funding
4
CSM State FundingCSM State Funding
5
Revenue HistoryRevenue History
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Expense History – By FunctionExpense History – By Function
Expenses by TypeExpenses by Type
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Fiscal Year 2013 Budget– Current Unrestricted Fund
– Designated, Restricted and Endowment Funds
– CSM Foundation Budget
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Fiscal Year 2013 Proposed BudgetFiscal Year 2013 Proposed Budget
Current Unrestricted Fund Designated Fund
Current Restricted Fund
Endowment and Loan Fund Total
Revenue 149,600,000$ 14,500,000$ 74,100,000$ 1,100,000$ 239,300,000$
Expense 149,400,000$ 10,500,000$ 69,200,000$ 300,000$ 229,400,000$
Net Activity 200,000$ 4,000,000$ 4,900,000$ 800,000$ 9,900,000$
Fiscal Year 2013 Budget Proposal
Current Unrestricted Incremental Current Unrestricted Incremental Budget Summary Budget Summary
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Fiscal Year 2012 Base Budget Surplus $2,600,000
Revenue Increases 12,150,000 Expense Increases 14,540,000 Net $210,000
Budget Request SummaryCurrent Unrestricted Fund
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Current Unrestricted Revenue Current Unrestricted Revenue
‣Total Revenue projected increase of $12.1 million
Revenue BaseFY 13
Adjustments FY13 Budget
Tuition 88,500,000 9,700,000 98,200,000
State Funds 16,300,000 (500,000) 15,800,000
Continuing Education 2,500,000 500,000 3,000,000
Fees 3,600,000 700,000 4,300,000
Indirect Cost Recoveries 10,000,000 600,000 10,600,000
Undesignated Auxiliaries 13,400,000 1,400,000 14,800,000
Other 3,200,000 (300,000) 2,900,000
Total 137,500,000 12,100,000 149,600,000
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Current Unrestricted Expense by Current Unrestricted Expense by Functional AreaFunctional Area
‣Total Expense projected to increase $14.5 million
Expense BaseFY 13
Adjustments FY13 Budget
Instruction 50,500,000 4,400,000 54,900,000
Research 3,500,000 100,000 3,600,000
Academic Support 15,300,000 1,900,000 17,200,000
Student Services 3,900,000 700,000 4,600,000
Institutional Support 10,800,000 500,000 11,300,000
Operations and Maintenance 19,500,000 1,200,000 20,700,000
Scholarship and Fellowships 12,200,000 2,400,000 14,600,000
Undesignated Auxiliaries 19,200,000 800,000 20,000,000
Capital Renewal and Replacement - 1,500,000 1,500,000
Operating Reserve - 1,000,000 1,000,000
Total 134,900,000 14,500,000 149,400,000
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Current Unrestricted Fiscal Year 2013Current Unrestricted Fiscal Year 2013Expense by TypeExpense by Type
Expense Increases:New Academic Faculty (11 TTT; 3 mid-year hires) 1,130,000Deans for Colleges (3) 870,000New Classified and Non-Academic Staff 1,000,000Labor Increases - Fringe Benefit Increase/Annualization/ Merit Pool/PERA 2.5% increase 4,750,000New Buildings Operating and Labor 460,000Resident Financial Aid and Graduate Support – SB003 1,030,000Non Resident Undergraduate Financial Aid 1,520,000Non Resident Graduate Support 180,000Other Operating and Miscellaneous 1,100,000Capital Renewal and Replacement Reserve 1,500,000Operating Reserve 1,000,000Total FY 2013 Budget Requests $14,540,000
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New Academic Faculty PositionsNew Academic Faculty Positions
‣11 new positions after retirements - $1.1 million (projection): Chemical and Biological Engineering - 1 FTE
Civil and Environmental Engineering – 1 FTE
Electrical Engineering and Computer Science – 1 FTE
Mining Engineering – 1 FTE
Applied Mathematics & Statistics – 1 FTE
Petroleum Engineering – 2 FTE
Physics – 1 FTE
3 FTE (TTT) other strategic and opportunity hires
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Academic Faculty FTEAcademic Faculty FTE
FY07 FY12 FY12 FY13 FY14Actual Budgeted Actual Proposed Planned
Tenure/Tenure Track 171 202 181 211 220
Teaching Faculty 39 69 58 73 73
Total 210 271 239 284 293
Academic Faculty Headcount
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New Expense RequestsNew Expense Requests
‣18.5 new non-academic faculty positions totaling $2,000,000 (salary and fringe): Academic ($1,200,000) – 7 positions
Student Support ($500,000)– 8 positions
Research Support ($200,000) – 1.5 positions
Continuing Education ($100,000) – 1.5 positions
‣New Building ($300,000) – 7.5 positions Maintenance
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Salary & Benefit ActionsSalary & Benefit Actions
‣Salary Actions: FY 2010 – No classified or across the board faculty salary increaseso $500,000 equity pool set aside; $225,000 utilized
FY 2011 - No classified or across the board faculty salary increaseso $700,000 equity pool set aside; $600,000 utilized (1.6% of Faculty Salary)
FY 2012 - No classified or across the board faculty salary increaseso $1,300,000 equity pool set aside (3% of Faculty Salary)
FY 2013 - No classified or across the board faculty salary increaseso $1,700,000 equity pool set aside (3% of Faculty Salary with benefits)
‣Benefit Increases: FY2012o Faculty 1.5%o Classified 5.4%o 2.5% contribution of PERA reverts back from employee to employer
($1,400,000)
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Undergraduate Financial AidUndergraduate Financial Aid
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Graduate Student SupportGraduate Student Support
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Budget Proposal – Other FundsBudget Proposal – Other Funds
*Includes new expenses of $130,000 for 1.83 FTE and operating for new building. See Appendix A for details.
Designated Fund*
Current Restricted Fund
Endowment and Loan Fund
RevenueFees 10,800,000$ Grants and Contracts 61,000,000$ Auxiliary 2,800,000$ Gifts 13,100,000$ Other 800,000$ 1,100,000$
Total Revenue 14,400,000$ 74,100,000$ 1,100,000$
Expense 10,500,000$ 69,200,000$ 260,000$
Net Activity 3,900,000$ 4,900,000$ 840,000$
Fiscal Year 2013 Budget Proposal
CSM Foundation BudgetCSM Foundation Budget
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CSM Support*:
Legislative Relations Federal Legislative Services $140,000Colorado Legislative Services $110,000Travel - CSM Representatives $6,000
$256,000
CSM Alumni AssociationGeneral Support $180,000
General CSM Support
CSM President's Discretionary $400,000Marketing $100,000Provost $100,000S.V.P. Finance and Operations $10,000V.P. Student Affairs $10,000V.P. Research and Tech Transfer $10,000
$630,000
CSM Services $10,000
Total CSM Support $1,076,000
*Still under review – changes possible