Board of Trustees January 27, 2017 Joel Klucking, CFO/Vice - PowerPoint PPT Presentation

Board of Trustees January 27, 2017 Joel Klucking, CFO/Vice President for Business and Finance

Financial Update: Opera8ng Funds Full Year Budget vs. Forecast $140 $120 $100 Dollars in Millions $80 $60 $40 $20 $0 Rev Exp Rev Exp Rev Exp Rev Exp State/TuiBon Local General Auxiliary Student AcBviBes

Financial Update: Non-Opera8ng Funds Full Year Budget vs. Forecast $70 $60 $50 Dollars in Millions $40 $30 $20 $10 $0 Rev Exp Rev Exp Rev Exp Rev Exp Capital Internal Service Grants & Contracts Trust and Loan

State/Tui8on Funds – Resources State/Tuition Fund Resources Budget Actual % Budget % Prior Yr Operating Revenues Tuition & Fees $ 69,301 $ 46,645 67% 70% Less: Waivers (13,500) (9,377) 69% 79% Thousands Net Tuition & Fees 55,801 37,269 67% 68% Admin Fee 3,500 1,975 56% 40% Other Revenue 421 421 100% 100% Total Operating Revenues 59,722 39,664 66% 67% State Appropriation 58,359 25,487 44% 34% Total Resources $ 118,081 $ 65,151 55% 53% • Tui8on revenue modestly lower than plan • Tui8on waivers will exceed plan by ~$1M • State appropria8on larger percentage of total revenues (backfill) 4

State/Tui8on Funds – Expenses YTD As of December 31, 2016 State/Tuition Fund Expenses by Division Budget Actual % Budget % Prior Yr Academic & Student Life $ 72,830 $ 30,905 42% 44% Business & Fin. Affairs $ 7,101 $ 3,565 50% 49% Enrollment Mgmt $ 4,317 $ 2,060 48% 47% President $ 9,626 $ 4,811 50% 45% Operations $ 22,301 $ 10,451 47% 49% Central Accounts $ 1,000 $ 286 29% 14% Thousands Total State/Tuition $ 117,175 $ 52,078 44% 45% State/Tuition Funds by Functional Expense Budget Actual % Budget % Prior Yr Staff Wages $ 33,876 $ 16,213 48% 48% Faculty Wages $ 40,507 $ 15,853 39% 43% Other Wages $ 1,352 $ 839 62% 29% Benefits $ 25,068 $ 11,673 47% 49% Goods & Services $ 16,372 $ 7,501 46% 41% Total State/Tuition $ 117,175 $ 52,078 44% 45% • Spending YTD slightly favorable to prior year • Full year forecast fully consumes budget 5

FY17 Housing & Dining Funds Opera8ng Margin Comparison $12 M $11 M Total Bond Payments $10 M Fiscal 2015 $9 M Fiscal 2016 $8 M 2017 Budget $7 M Fiscal 2017 $6 M $5 M $4 M $3 M $2 M $1 M $0 M July August September October November December January February March April May June (1 M) (2 M) (3 M) (4 M)

Ques8ons?