FY 2020 Operations Budget Summary Presentation to the Board of - - PowerPoint PPT Presentation

FY 2020 Operations Budget Summary

Presentation to the Board of Trustees

September 2019

F I S C A L Y E A R 2 0 2 0

SYSTEM-WIDE OPERATING BUDGET $6.97 billion +$141M (+2.1%) from FY2019

Includes Benefit Payments Made by State

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B U D G E T D E V E L O P M E N T

Consolidation of Budgets Developed by Individual Departments, Colleges and Units Follows Legislative Guidelines on Use of Funds Driven by Institutional Priorities

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B U D G E T P R I O R I T I E S

Maintain Affordability Student Scholarships Faculty Excellence Physical Infrastructure Innovation &

• Econ. Dev.

B U D G E T C O M P R I S E S F O U R T Y P E S O F F U N D S Total FY20 Budget: $6,970 M

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Hospital

$838 M (+7.1%)

Payments on Behalf

$1,716 M (-3.0%)

Restricted

$2,073 M (+1.1%)

General Operating

$2,343 M (+5.2%)

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F Y 2 0 2 0 P R O J E C T E D U N I V E R S I T Y R E V E N U E S

Total Budget $6,970M Payments on Behalf (POB) $1,716M Budget w/o POB $5,254M +194M +3.8%

K E Y R E V E N U E C H A N G E S

State Appropriation +4.7% Tuition & Fees +3.7% Hospital Fund +7.1% Sponsored Program +3.7% Auxiliary Facilities +2.5%

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G E N E R A L O P E R A T I N G F U N D State Appropriation $594.2 M Tuition and Fees $1,327.2 M Cost Recovery $266.3 M Royalties $40.6 M Allowances $77.9 M

• Misc. Income

$37.3 M Total $2,343.5 M Tuition Accounts for 57% of General Fund State Appropriation Provides 25% of General Fund

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R E S T R I C T E D F U N D S Sponsored Programs $762.3 M Gift Income $179.7 M Auxiliaries $810.5 M Medical Service Plans $250.7 M Other $69.4 M Total $2,072.6 M Sponsored Programs Account for 37% of Restricted Funds Auxiliaries Account for 39% of Restricted Funds

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State 12% Tuition 25%

• Inst. Funds

8% Sponsored Programs 15% Gifts/Endow Inc. 4% Other 1% Hospital/MSP 20% Aux./Dept. 15%

DIVERSIFIED REVENUE SOURCES

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Institutional Fund includes cost recovery, royalties, allowances and misc. income

Total $5,254 M Excludes Payment on Behalf

FISCAL YEAR 2020 – BUDGET BY UNIVERSITY

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$5,254 Million

(excluding payments on behalf)

45.2% 1.7% 33.4%

Hospital, 16.0% System Office + System Wide Programs, 3.7%

UIC Total 49.4%

FISCAL YEAR 2020 – TUITION BY UNIVERSITY

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TOTAL $1,327 Million

61.2% 2.6% 36.2%

S A L A R I E S & B E N E F I T S B I G G E S T C O M P O N E N T O F E X P E N S E

$2,689.5 M +4.0 % over FY19 51% OF TOTAL

Note: Total excludes payments on behalf

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M A J O R E X P E N S E B U D G E T C A T E G O R I E S Category Amount Percent of Total Salaries & Benefits $2,689.5 M 51.2%

Supplies, Services, Equipment

$1,693.9 M 32.2% Scholarships $334.3 M 6.4% Utilities/Maintenance $283.5 M 5.4% Debt Service $122.7 M 2.3% Transfer to Capital $130.5 M 2.5%

E X P E N D I T U R E B Y F U N C T I O N

Instruction, 19.8% Research, 15.3% Public Service, 7.9% Academic Support, 11.3% Student Services, 3.1% Scholarships, 5.9% Institutional Support, 5.9% Plant Operations, 5.6% Hospital, 16.1% Auxiliary, 9.1%

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K E Y C H A L L E N G E S

• Stable State Funding
• Enrollment & Tuition Growth
• Maintain Fund Raising Momentum
• Expense Control

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