GSW BUDGET PRESENTATION FY 2016
Special Thanks ¨ Dr. Alan Parks Worked on E&G Budget and inputting info for all BOR Reports ¨ Colette Long Payroll and Position Management – 75% of budget ¨ Business and Finance Committee – Chairperson Susan Robinson ¨ Polly Conger Restricted/Grants Budget ¨ Jeff Hall Student Activities Budget ¨ Amber DeBaise Auxiliary Budget
FY 2016 Highlights ¨ Tuition Rate Increase of 2.5% ¨ Budgeted for 2% Undergraduate growth and 100 additional in graduate students ¨ Net overall decrease of $824,468 in state appropriations ¨ Overall split for E&G budget – 44% State/56% Tuition and fees ¨ Maintained current 4-Year Comprehensive Institution Structure
Highlights continued ¨ .75 % salary pool was distributed to Presidential direct reports and Deans to allocate on merit basis ¨ Raises would go into effect July 1 for staff/admin and August 1 for faculty ¨ NO TRS or ORP Employee Rate Increases ¨ This is the tightest original budget in 15 plus years ¨ Have little reserves built in original budget, we MUST hit our enrollment targets ¨ 12 currently unfilled positions removed from budget
Salary Adjustments – 2014, 2015 and 2016 Salaries only –E&G Allocation by BOR FY2014 $1,005 adjustment $190K ZERO across board FY2015 $500 plus 1% Pool $257K $103,119 FY2016 .75 % Pool $99K $66,393
Detail of State Appropriations FY2015 State Appropriation Base $12,029,243 Heath Insurance 199,840 TRS Increase 106,834 DOAS Premium Increase 2,465 Merit Pay 66,393 Enrollment Adjustment (1,200,000) FY2016 Base $11,204,775
Total E&G Budget State Appropriations (Fund 10000) $11,204,775 Tuition (Fund 10500) 12,515,000 Other Fees (Fund 10600) 1,918,700 Total E&G Budget $25,638,475 Decrease of 2.02% or $527K from FY2015
Total Overall Budget E&G Budget $25,638,475 Restricted Budget 8,960,304 Technology 420,000 Auxiliary 10,204,955 Minor Budgets 110,000 Student Activities 532,500 Capital Budget 5,000 Total Budget $45,871,234 Easily $50 million (+) flow through our books when you add certain loan $’s that go directly to students
Retirement Rate Changes FY 2015 FY 2016 TRS Employer (GSW) 13.15% 14.27% Portion -8.5% change TRS Employee Portion 6% 6% ORP Employer (GSW) 9.24% 9.24% Portion ORP Employee Portion 6% 6%
Detail of Fees Institutional Fee $242 Health Service 70 Activity 65 Athletic 205 Technology 55 Student Success Center 33 Parking 18 Total Fees $688 Only fee increase approved was Technology by $5 – (9 of 10 on lowest fees)
Detail of Tuition ¨ Resident Undergraduate - $161.93 per credit hour – max @ 15 hours is $2,429 ¨ Resident Graduate - $185 per credit hour ($179 prior year) ¨ E-Tuition Undergraduate - $216 per credit hour ($210 prior year) ¨ E-Tuition Graduate - $257 per credit hour ($250 prior year) ¨ Several other E-rates for specific majors and areas
General / Miscellaneous Comments ¨ Maintain Comprehensive University look/structure/feel – rapid growth in enrollment needed – 3,000 plus minimum ¨ Food Service and Residence Halls – expected uptick in both in FY2016 ¨ Look for Residence halls to be SOLD in July 2016 ¨ Fall 2016 more impact with our waivers – much impact in our resident halls ¨ Faculty Payroll Dates – Dec of 2015 and May 2016 – End of Month – Ga First Project- Same Pay Calendar ¨ Growth in graduate enrollment is a budget saver!!
Capital Projects ¨ Fine Arts Renovation – Under Contract and Work has begun ¨ Extension of sidewalks – Duncan/Magnolia to 4-way stop ¨ Further HVAC work in Business History Bldg ¨ Golf and Conference Center Major Renovations - $1.5 million range, planning and development stage, seeking funding partner ¨ Others – funding source needed…………
Year End Request - FY2015 ¨ Expanding Wireless on campus ¨ Tennis Court resurfacing ¨ Store Front Doors ¨ Clay and Glass – Fine Arts ¨ Carpet Library ¨ Technology in CIS ¨ Equipment – Fine Arts Building ¨ Jackson Hall – Correct Moisture Issues ¨ Address some signage issues
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