Where we are now • Structural deficit: $4.5 million • Reduction in state funds • Tuition freeze • Slight enrollment decline • Unfunded pay plan • Plus $7.6 million reduction in state funds • Total $12.1 million cut
What this means $95.6 million General Fund Budget - $12.1 million Reduction $83.5 million New General Fund Budget Reverts to 2007-08 funding levels
The calculator enables us to communicate the potential impacts of budget reductions in a factual and objective manner. FY16 - Structural Deficit + Governor's Budget (all figures are estimated) Budget Status Entering FY16 -$4,532,043 REVENUES State Appropriation-Base 1% = $329,000 -23.1% -$7,599,900 Resident Tuition Rate Change 1% = $592,000 +.0% $0 Non Resident Tuition Rate Change 1% = $14,000 +.0% $0 Resident Enrollment Change (as of 10th day) 1 FTE = $6,100 0 $0 Non Resident Enrollment Change (as of 10th day) 1 FTE = $13,900 0 $0 Winter/Summer Session Revenue 1% = $33,041 +.0% $0 TOTAL CHANGE IN REVENUES -$7,599,900 EXPENSES Salary Adjustments, Steps, etc (Sal+Fr) 1% = $558,000 +.0% $0 Health Insurance Rate Change 1% = $251,000 +.0% $0 Operating Budgets 1% = $110,000 +.0% $0 Winter/Summer Session Distribution 1% = $23,178 +.0% $0 TOTAL CHANGE IN EXPENDITURES $0 UNIVERSITY ACTIONS (Cost Reduction, Revenue Enhancements or Investments) Various Investments to Budget, Must Pay Bills, etc $0 TOTAL CHANGE IN UNIVERSITY ACTIONS $0 Ending Budget Deficit/Surplus - FY16 -$12,131,943 Calculated: Budget Status Entering FY16 + REVENUES - EXPENSES Information below is for illustrative purposes only, providing possible scenarios for meeting budget reductions. None of the scenarios would be used exclusively but would be used in combination except for tuition which remains frozen. Faculty positions 126 ave sal/fringe $96,500 which also equates to classroom seats 24,892 ave per seat $487 -----OR------ Administrative/Staff positions 152 ave sal/fringe $79,658 -----OR------ Raise resident tuition 20.5 % **Position reductions are calculated based on the assumption that full FTE (including fringe costs) will be included in the budget reduction.
What we’ve done • $2.8 million • 27.36 positions eliminated (instructional and non-instructional) • $1 million in other reductions • $1.7 million remaining cuts
What’s Next? Divisional Budget Teams 10% 15% 20% Overall Budget Reductions
Rapid Action Task Forces • Student Services: Efficiently provide high-quality service to our students through a one-stop service center. • Administrative Redesign: Rebuild the university by identifying opportunities for centralization and improved processes. • Curriculum: Rethink the undergraduate curriculum to maintain quality, strengthen its attractiveness and increase four-year graduation rates while reducing resources. • Academic Workload: Examine balance of teaching, scholarship, advising and service, and integrate our values across departments.
% of All Fund Budget here
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