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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 2010-11 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 2007-08 - FY 2010-11 - 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 2010-11 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 2010-11 Base represent cumulative appropriations since FY 2007-08 - College of Medicine is excluded.
5 © 2010 Florida International University STATE APPROPRIATIONS vs NET TUITION FY 2007-08 - FY 2010-11 5 * 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 2010-11 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 2010-11 Total$20.1M
7 © 2010 Florida International University CRITICAL INVESTMENTS FY 2010-11 Compliance and Support Research & Graduate Education Student Instructional Support Despite state reductions, FIU has invested $57M in high priority areas since FY 2008-09 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 2011-12 8 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 2011-12 - $15 M + $18 M - $ 8 M + $ 5 M - $ 5 M
9 © 2010 Florida International University FIXED CAPITAL OUTLAY FY 2010-11 9 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 2010-11
11 Budget Forum Wednesday, June 2, 2010
1 Florida International University Budget Forum May 19, 2011.
1 The FY 2006 Budget Request and Future Impacts Strategic Planning Study Session January 20, 2005.
1 The Florida International University Faculty Senate Meeting Operating Budget FY07-08 & Budget Reduction Plan September 18, 2007.
Operating Budget Funding Sources State Appropriations - General Revenue Formula Funding, Special Items, Benefit Cost Sharing THECB Transfers TX Grant,
Tennessee Higher Education Commission Higher Education Recommendations & Finance Overview November 15, 2012.
Budget & Finance Committee Tico Perez, Chair September 15, 2010
FLORIDA DEPARTMENT OF CORRECTIONS Legislative Budget Request for FY Charlie Crist, Governor James R. McDonough, Secretary.
Campus Budget Overview Fall 2010 Kelly Ratliff Budget and Institutional Analysis.
Presented to the Board of Trustees March 10, 2010 Financial Indicators.
Florida International University G-51 April 9, 2010.
2010–2011 CAPITAL AND OPERATING BUDGET UNIVERSITY OF KENTUCKY.
TILE V, HISPANIC SERVING INSTITUTIONS Peter Fusscas Carolyn Proctor HACU'S 16 TH ANNUAL NATIONAL CAPITOL FORUM.
Fiscal Strength Finding the balance at UMass Boston.
CREATING GREAT OPTIONS FY 2012 SLPS BUDGET Revised for Approval May 26, 2011.
Operating Budget Overview Presented to the Tuition and Fee Committee November 13, 2009 Presented to the Tuition and Fee Committee November 13, 2009.
A Glance Back We have made significant progress in spite of significant financial challenges created from: Declining state appropriations Pressure.
Tuition & Aid Advisory Board A Discussion of UCB Priorities and Funding Strategies September 27, 2004.
Douglas County School District Re.1 Preliminary Budget Fiscal Year 2010 – 2011 Presented to the Board of Education Tuesday April 20, 2010.
Overview of UTSA’s Discretionary Budget Presented by: Mary Simon Sr. Director Budget and Planning Development.
January Cal Poly Budget Presentation UPBAC January 2009.
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