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1 Budget Forum Wednesday, June 2, 2010
2 © 2010 Florida International University 2 FLORIDA INTERNATIONAL UNIVERSITY Budget Forum AGENDA Education & General Appropriations State Appropriation Reductions FY Budget State Appropriations vs. Net Tuition Incremental Revenue Critical Investments Gap Public Education Capital Outlay (PECO) Fundraising
3 © 2010 Florida International University STATE APPROPRIATIONS REDUCTIONS FY FY State Appropriations include recurring General Revenue and Lottery, but exclude Financial Aid, Risk Management and Other Pass-throughs such as health insurance increases and plant operations and maintenance for new buildings - College of Medicine is excluded. FIU loses approximately $60M in funding over 4 years 3
4 © 2010 Florida International University 4 E&G STATE APPROPRIATIONS* FY Budget Increases in FIU share of health insurance Increases in FIU share of Plant Operations and Maintenance for new facilities Increases in FIU share of retirement costs Increases associated with legislative initiatives New revenues will cover new costs (no discretionary revenue) Impact of legislative line items and pass-throughs - Base budget excludes Financial Aid and Risk Management, $2.7M - Pass-throughs of $15M in FY Base represent cumulative appropriations since FY College of Medicine is excluded.
5 © 2010 Florida International University STATE APPROPRIATIONS vs NET TUITION FY FY * Recurring State Appropriations - State Appropriations include General Revenue and Lottery, but exclude Financial Aid and Risk Management - College of Medicine is excluded. FTE 24,412 FTE 24,511 FTE 25,380 FTE 26,454 FTE 27,347 FTE 28,938
6 © 2010 Florida International University E&G INCREMENTAL REVENUE FY Budget Higher enrollment and tuition rates result in revenue increase of $20.1M, offsetting reductions in state appropriations, operating cost increases, and critical investments *Includes the effects of enrollment growth. Includes College of Medicine of $2.4M. Revenue amounts are net of Financial Aid $5.7M and exemptions and waivers of $19.8M. 6 FTE 24,511 FTE 24,412 FTE 25,423 FTE 26,535 $148.7M* $128.6M$115.4M$107.1M Incremental Revenue Undergraduate$8.9M Differential$5.1M Graduate$3.8M COM$1.2M Law$1.1M FY Total$20.1M
7 © 2010 Florida International University CRITICAL INVESTMENTS FY Compliance and Support Research & Graduate Education Student Instructional Support Despite state reductions, FIU has invested $57M in high priority areas since FY Hire research faculty clusters Improve research infrastructure Increase graduate stipends Hire new faculty Improve advisor to student ratio Increase graduation and retention rates Increase student support services: library, undergraduate office Complete SACS accreditation and implement QEP Strengthen Public Safety & Environmental Health & Safety operations Enhance University IT and enterprise systems Cover unfunded cost to continue expenses 7
8 © 2010 Florida International University ESTIMATED GAP FY Loss of Federal stimulus funds to state likely to occur; possible impact to FIU of a -9% reduction in general revenue funding Expected additional net tuition revenues Additional funding needed for critical investment and cost to continue expenditures Gap Current Budget reduction plan will be enough to use non-recurring funds to cover the shortfall in FY $15 M + $18 M - $ 8 M + $ 5 M - $ 5 M
9 © 2010 Florida International University FIXED CAPITAL OUTLAY FY PUBLIC EDUCATION CAPITAL OUTLAY FIU Utilities / Infrastructure / Capital Renewal Roofs$6,221,914 Public Safety Building Supplement$1,272,772 Social Sciences - Phase 1 Completion$4,150,000 Science / Classroom Complex$3,982,942 Satellite Chiller Plant Expansion$7,000,000 Stocker Astrophysics Center$1,600,000 Student Support Services Building$17,646,976 TOTAL$34,874,604 Vetoed
10 © 2010 Florida International University FUNDRAISING* 10 * Amounts do not include State Matching Embark on $750M capital campaign On target to hit goals Achieve endowment of $1 billion Faculty and Staff Annual Fund Campaign in
11 Budget Forum Wednesday, June 2, 2010
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