Board of Visitors Finance Committee Meeting March 1, 2018 Agenda - - PowerPoint PPT Presentation
Board of Visitors Finance Committee Meeting March 1, 2018 Agenda AC ACTION ITE ITEMS 1. 2018-2019 Faculty, Staff and Student Housing Rates 2. 2018-2019 Contract Rates for Dining Services 3. Disposition of Real Property Barnes Estate 4.
AC ACTION ITE ITEMS
Rates
REP REPORTS
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2018-2019 Academic Year Academic Division College at Wise Number of beds 6,884 695 Occupancy rate (fall 2017) 99% 67% Average increase $210 or 3.5% $196 or 3% Average double room charge (nine-month lease) $6,252 $6,398 5
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Category Average Per- Student Increase Percent of (3.5% overall) Increase Total Dollars Generated Debt Service Expense1 $143 68% $790,000 Capital Renewal and Replacement2 63 30% 350,000 Other Costs3 4 2% 14,000 Total $210 100% $1,154,000
1. Includes increases in debt service for McCormick Road Residence Halls Phase 1 2. Consistent with Board of Visitors’ policy on capital renewal and replacement which requires maintaining 1.5% of replacement value The proposed increase also reflects additional investments in major maintenance and repairs of existing facilities 3. Other Costs include a net increase of $14,000
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Sources: SCHEV 2017-2018 Public Institutions survey & Business Operations web-based survey
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$0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 $10,000 UVa = $6,042
Average "Peer" & Selected Others = $7,872 Average VA Public Schools = $6,007
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$0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 UVa-Wise = $6,202
....... Average VA Public Schools = $6,007
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Sources: SCHEV 2017-2018 Public Institutions survey & Business Operations web-based survey
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2018-2019 Academic Year Academic Division College at Wise Average increase 3.0% 3.0% Meal plan rate range $100 - $5,480 $170 - $4,236
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$0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 UVa = $4,950
.... Average VA Public Schools = $4,685
Sources: SCHEV 2017-2018 Public Institutions survey & Business Operations web-based survey
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$0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 UVa-Wise = $4,112
.... Average VA Public Schools = $4,685
Sources: SCHEV 2017-2018 Public Institutions survey & Business Operations web-based survey
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Road in Charlottesville, VA – 2,600 square foot residence on .68 acres plus adjacent 1.4 acre lot – Total assessment (for tax purposes): $776,700
additional assets to be split evenly between UVA and UNC to support students traveling and studying abroad
– Integrate a Nano-Bio cleanroom laboratory into the UVA Microfabrication Laboratories (UVML) cleanroom located in Thornton Hall – Creates unique, interdisciplinary facility for transformational collaborations and research in soft materials and hard nano-materials – Combined facility will put UVA on leading edge of academic cleanroom facilities across the country
– $9.1 million operating cash – $6.1 million debt to be repaid by SEAS philanthropy and/or indirect cost recoveries
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– Stand-alone facility in 20,000 SF leased space on Pantops proximate to existing UVA Community Oncology practice – Center will provide comprehensive clinical services; education, support, and survivorship programs; and robust research and clinical trial resources – Co-locating services will enhance patient experience, increase utilization of clinical resources, and preserve existing oncology practice to maintain current infusion capacity
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Endowment REPORT: MARKET V ALUE AND PERFORMANCE AS OF DECEMBER 31, 2017
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not be replicated today
dislocations
necessary
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Board o
rectors
Timothy O’Hara, and John Harris), and one by the President of UVA (Pat Hogan)
CEO/CIO
St Staff
Investment Associates, and 2 Investment Analysts
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As o
Decem ecember er 3 31, 2 2017 FYTD $ Millions % 1 YR 3 YR 5 YR 10 YR 20 YR Dec-17 Long Term Pool 9,106 100.0 12.5 7.6 10.0 7.0 10.9 5.4 Policy Benchmark 100.0 16.9 7.5 8.5 5.3 6.5 7.9 Equity Public 2,597 28.5 28.7 11.7 14.0 8.8 11.4 11.0 Long / Short 1,753 19.3 6.9 4.3 7.6 4.9 10.2 4.9 Private 1,471 16.2 9.4 9.7 14.7 9.8 18.6 6.4 Total Equity 5,822 63.9 16.3 8.9 12.2 8.1 13.1 7.9 MSCI All Country World Equity 60.0 24.6 9.9 11.4 5.2 6.6 11.5 Real Assets Real Estate 485 5.3 14.1 15.5 14.2 (1.8) 3.0 6.0 Resources 572 6.3 16.6 2.5 6.0 12.0 14.8 (2.3) Total Real Assets 1,057 11.6 15.3 11.3 11.6 6.7 10.3 1.4 MSCI Real Estate 10.0 14.7 6.8 8.2 5.1 7.3 6.4 Fixed Income, Cash & MAC Marketable Alternatives and Credit 1,188 13.0 4.3 3.7 6.4 6.8 6.1 2.1 Fixed Income 785 8.6 0.4 0.6 0.5 2.3 5.1 0.0 Cash & Currency 255 2.8 0.8 0.4 0.2
Total Fixed Income, Cash & MAC 2,228 24.5 2.6 2.5 3.5 4.6 5.7 1.2 Barclays Aggregate Bond 30.0 3.3 2.5 2.6 4.1 5.0 1.4 Market Value Annualized
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0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
As of December 31, 2017
Public Equity Long/Short Equity Private Equity Real Estate Resources Marketable Alternatives & Credit Fixed Income & Cash
28.5% 19.3% 16.2% 5.3% 6.3% 13.0% 11.4% 30% Fixed
Income
10% Real Assets 60% Equity
Policy Portfolio
assessing risk tolerance
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Risk is the impact that a portfolio loss has on the operations of the University.
Ma Market r risk sk
19.3% Liquidity r risk
year: 34%, 54%
Manag ager r r risk sk Tradeoff between ST and LT risk
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– UVIMCO’s mission-driven culture, experienced and dedicated staff and board, and adherence to a proven investment strategy
– Focus on finding additional sources of return in a low return, increasingly competitive world
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Jan 2014 – June 2015
Market share in $USD
Industry disrupted in just 15 months
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Pa Pace o
Change ange Tim ime Employee Engagement Divi vide de Orga rgani nizationa nal c chang ange
Work ch k change 28
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Ne New Behavio iors s
Shaped by social medial and the web
Te Techn hnolog
Shift to the cloud, collaborative technologies, big data
The The Mi Mill llennial Workf kforce ce
New attitudes, expectations and ways of working
Mobil ility
Work anytime, anywhere and on any device
Globalizat atio ion
No boundaries
Source: The Future of Work
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I can an b bal alanc nce wor
and d perso sonal al need eeds My My thought hts an and ideas are are valued I can an w work an any where at at an any time o
ny device My networ
k is broa
and d su suppo pports m me
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UPG PG Academi mic Med edical C Cen enter er
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Discoverer
70+ disparate systems
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December Jan anuar ary Fe February Ma March ch April il May ay
User A Acceptance Testing Re Regression Testin ing f for Workday
Unit it T Testin ing
Confir irmatio ion Sessio ions
Dat ata V a Val alidation
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Data Enablement Collab abor
ation
between Academic Division & Health System Pa Pati tient C t Care Expansion of Telemedicine and Advanced Analytics Research Infrastructure Research UVa, Compute, Network, Compliance
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Meet with Deans and Health System to converge on additional priorities
Set Priorities 2018
Cross-grounds IT planning between the University and UVAHS.
Begin 2016
Developed initial Vision and Goals for UVA IT Strategy; Began execution of clear priorities
Vision & Goals 2017
Develop long-range financial projection & solidify multi-year project plan
Plan & Execute 2018
Ad hoc IT projects & coordination
pre- 2016
Plan an
Execu cute te
Execute multi-year project plan and plan for future years
Execute & Plan 2018-2020
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Additio ional beds ds neede eded t d to accomm mmoda date all 2nd-year s studen dents Total beds needed (based on current 2nd-year enrollment) 3,883 Less: 2nd-year students currently living on Grounds (1,474) Less: Beds currently under construction/planned for future construction (913) To Total Numb mber er of Beds ds N Need eeded ed 1,496 Assu Assumptions ns:
housing
students
dollars)
would result in higher costs