UW-Platteville Financial Overview Presentation Fall 2013

Report
UW-Platteville Financial Overview
October/November 2013
Robert Cramer - Vice Chancellor
Cathy Riedl-Farrey - Director, Financial
Services
1
• Summary of Funding Sources
• UW-Platteville Financial Update
– 2012-13 Closing Balances (June 30, 2013)
– 2012-13 All Funds Budget
– Tuition and enrollment
– Budget Forecast model
– TSI Detail
– Debt Service Detail
2
• General Purpose Revenue (GPR) – includes general funding, specific
purpose funding, and earmarked funding from the state, primarily from
state sales and income taxes [Funds 102, 104, 109, 110, 402, 403, 406]
• Program Revenue (PR) – includes tuition, auxiliaries, and segregated fees,
as revenues received for services or from users [Funds 123, 128, 131, 132,
136, 189]
•
NOTE: Segregated fees are charges assessed to students including
textbook rental, health services, student center operations, athletics,
intermural sports, parking, student activities (allocable), municipal
services, children’s center and ID systems.
• Federal Revenue (PR-F) – includes federal grants, financial aid, direct loans,
as revenues from a federal agency [Funds 144 – 150]
• Gifts and Grants – includes revenues from the Foundation, non federal
grants [Funds 133, 134, 184, 233]
3
UW-Platteville Financial Update
4
FY2012-13 Closing Balances
• All Funds Summary (Cash Basis)
Beginning Cash
$ 24,495,297
Total Revenue
$149,680,085
Total Expenses
$145,363,000
Net Income
$ 4,317,085
(July 1, 2012)
(Excluding direct student loan amounts)
Closing Balance
$ 28,812,382
(June 30, 2013)
5
Select Fund Balances
• Fund 102
$ 5,796,557
– (General operations, tuition revenue, base of $50 million)
• Fund 123
$ 4,030,686
(Debt service, $6.5 M base)
• Fund 128
$ 3,442,588
– (Dining, housing, parking, base of $31.6 million)
• Fund 131
$12,660,368
(DLC, School of Ed Cost Recovery, TSI, base of $18.7 million)
• Fund 136
$ 2,110,868
– (Similar to 128, HTCP, camps & conferences, base of $4.3 million)
6
Carry Over Balances by
College/Division
Division
Administrative Services *
Admissions & Enrollment Mgt
Advancement
BILSA
Chancellor
Diversity & Inclusion
EMS
LAE
Provost **
University Wide
Total ***
FY14
Approved
993,666
184,893
35,000
370,705
173,365
855,900
624,768
462,396
(35,027)
3,665,666
FY14
FY13
Requested Approved
1,371,986
696,321
184,893
48,262
52,792
222,100
553,392
171,683
264,145
80,363
1,463,453
702,727
723,858
52,212
876,111
190,698
5,490,630 2,164,366
* Includes budget lapse and university wide carryover items.
**Academic Affairs & Student Affairs are now combined under Provost
***Excludes accounts that automatically carryover (i.e. Fund 128, 136, some 131)
7
2001-02 Budget
Final 2001-2002 UW-Platteville Budget
$73.6 Million
Tuition
$16,185,195
22%
Auxiliary Enterprises
$20,714,713
29%
Specific Purpose Tax
Dollars
$5,868,019
8%
State
funding
of 40%
Gifts and Grants
$839,192
1%
Federal
$5,454,833
7%
General Purpose Tax
Dollars
$23,786,913
32%
Extension
$795,229
1%
8
2013-14 Budget
Final 2013-2014 UW-Platteville Budget
$184.5 Million (all funds)
Auxiliary
Enterprises
45,941,182
25%
Extension
588,569
0%
General
Purpose Tax
Dollars
16,261,394
9%
State Funding
of 16%
Specific
Purpose Tax
Dollars
12,645,244
7%
Gifts and
Grants
1,430,900
1%
Federal
50,489,010
27%
Final 2013-2014 UW-Platteville Budget
$135.9 Million (excluding federal aid)
Extension
588,569
1%
Auxiliary
Enterprises
45,941,182
34%
State
Funding
General
Purpose Tax
of 21%
Dollars
16,261,394
12%
Specific
Purpose Tax
Dollars
12,645,244
9%
Gifts and
Grants
1,430,900
1%
Tuition
57,119,406
31%
Federal
1,895,700
1%
Tuition
57,119,406
42%
9
Financial Forecast Assumptions
• Revenue modeling to project available funds from the state, TSI, and
tuition (traditional undergrads and grads)
• Key variables are tuition, enrollment and state support
• Assumes 0.0% increases in tuition annually for 2013-15 and 2% thereafter
• Assumes flat enrollment at Fall 2013 levels except for TSI
• Assumes TSI growth to 1510 in FY2014-15 and fluctuating from 1490 –
1510 through 2018-19
• Assumes TSI faculty & staff change maintaining the current faculty/staff to
student ratio of TSI,13:1 & 25:1; Decrease of 14 positions and $1.1 million
• Assumes base budget reduction for GPR of $1.7M; current plan of
$3,000,000 base on-going reduction; $290,000 staff reduction of 6
positions
• Assumes 1% pay plan for TSI expenditures for 14-15 forward; 2%
thereafter. Assumes GPR pay plan funded by state so no cost factors
included
• Assumes TSI incentive grant will be for new students only starting in Fall
2014. No continuing student grants.
10
Tuition Revenue
Tuition Target for Pooled Revenue=$34,264,494
Variance
Original Estimate 5.2013
$36,179,000
$1,914,000
Fall 2013
$35,470,000
$1,200,000
TSI Estimate 5.2013
$15,320,000
-
Fall 2013
$14,310,000
-$1,010,000
Spring 2014
Spring 2014
Note – these figures exclude distance learning, study
abroad, and school of education cost recovery students
11
Enrollment
Original
Fall Billing
FTE
Fall 2013
Billing FTE
Original
Spring Billing
FTE [90%]
5,510
5,515
4,960
4,965
Undergrad NonRes
180
155
160
140
Graduate Resident
95
74
85
65
Graduate NonRes
25
18
25
15
Subtotal Pooled Enrollment
5,810
5,762
5,230
5,185
TSI Enrollment
1,580
1,482
1,420
1,335
Total Pooled & TSI Enrollment
7,390
7,244
6,650
6,520
Undergrad Resident
Revised
Spring 2013
Billing FTE
12
Enrollment Projections
FY201314
FY201415
FY201516
FY201617
FY201718
5,670
5,665
5,665
5,665
5,665
92
90
90
90
90
Subtotal Pooled Enrollment
5,762
5,755
5,755
5,755
5,755
TSI Enrollment
1,482
1,510
1,490
1,500
1,510
Total Pooled & TSI Enrollment
7,244
7,265
7,245
7,255
7,265
Previous Projection
7,390
7,480
7,505
7,515
7,515
-146
-215
-260
-260
-250
Undergraduate
Graduate
Reduction
13
Budget Forecast Model
Projected Closing Balances
Current Scenario
As of 10/30/13
FY2014
FY2015
FY2016
7,226,539
5,103,282
2,904,645
FY2017
163,724
FY2018
FY2019
(2,969,162)
(6,468,742)
Above scenario assumes:
$3M base on-going reduction;
Additional $1.4M and approx. 20 positions are reduced due to lower
enrollment projections in 14-15; Another $364,000 & 4 positions in 15-16
Board of Regent Thresholds – 10% and 15%
Amount
10%
15%
$6,100,000
$9,100,000
14
Budget Reduction Plans
15
Budget Reduction Plans
Continued
16
TSI Budget Detail
17
Debt Service
• UW-Platteville has two types of debt service
on facilities
– General Fund Borrowing is funded through state
appropriations of general purpose revenue
– Program Revenue Borrowing is funded through
University revenues including TSI
• Debt is issued centrally by the State
• 20 year bonds are typical
18
Debt Service Detail
Description
General Fund
Fund
110
FY2012
Budgeted
3,590,333
Parking
PAC
Fieldhouse Addition
Children's Center
Markee Pioneer Stdnt Ctr
Residence Halls
Stadium
Food Service/Union
Chancellor's Residence
Subtotal
123
123
123
123
123
123
123
123
123
123
204,400
12,716
430,704
36,092
926,966
1,919,439
155,808
441,453
15,360
4,142,938
265.200
380,807
35,854
934,511
2,160,374
156,287
439,809
15,289
4,388,131
288,500
382,500
36,500
946,800
3,760,100
157,400
441,100
15,600
6,028,500
FY2032
FY2012
FY2033
FY2020
FY2021
FY2033
FY2030
FY2031
FY2019
194/123
2,070,000
2,070,000
2,070,000
FY2031
11,675,826
13,921,919
17,374,994
TSI
Grand Total Debt Service
FY2013
Budgeted
7,463,788
FY2014
Bond End
Budgeted
Date
9,276,494
19
Next Steps
• Budget Reduction Plans
– Implementation: $3 million
– Start 2014-15 planning now with emphasis on
base reductions
• Revision of Budget Management Principles
• Targeted 10% balance and timing
20

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