Presentation on theme: "AGENDA ITEM NO. 10: ECONOMIC FEASIBILITY OF LOAN ISSUE FOR THE UNIVERSITY OF ARKANSAS-SYSTEM Chandra Robinson Program Coordinator, Institutional Finance."— Presentation transcript:
AGENDA ITEM NO. 10: ECONOMIC FEASIBILITY OF LOAN ISSUE FOR THE UNIVERSITY OF ARKANSAS-SYSTEM Chandra Robinson Program Coordinator, Institutional Finance
Relevant Information College Savings Bond Revolving Loan Fund $500,000 for 10 years @ a rate not to exceed 0.22% Educational and general purposes Revenue Funding Source: Billing Revenue Proceeds from the loan, along with reserves set aside for these projects, will be used for major repairs to the B. Alan Sugg Administration Building, including repair of the roof and replacement of weather damaged windows and doors
AGENDA ITEM NO. 11: ECONOMIC FEASIBILITY OF BOND ISSUE FOR UNIVERSITY OF CENTRAL ARKANSAS Chandra Robinson Program Coordinator, Institutional Finance
Relevant Information $17.5 million for 30 years @ a rate not to exceed 5.75% Auxiliary purposes Revenue Funding Source: Housing Revenue Proceeds will be used to fund the design and construction of Donaghey Hall
AGENDA ITEM NO. 12: BOND AND LOAN FEASIBILITY UPDATES Tara Smith Senior Associate Director, Institutional Finance
Bond & Loan Feasibility Updates This update consists of the actual terms for bond and loan issues receiving AHECB approval that occurred from June 2013 through October 2014. Report includes the actual date of bond/loan issue, amount of bond/loan issue and actual bond/loan terms for bond and loans approved during the reporting period.
Maintenance of New Facilities Report The AHECB policy for maintenance of new facilities states that a report on the amount transferred to plant funds will be presented annually at the October AHECB meeting Ensures all newly constructed or purchased facilities will have a source of funding for maintenance Institutions seeking approval of a loan or a bond issue for the construction or purchase of a new facility must provide for the maintenance of that facility by transferring annually to plant funds Current rates: $2.50 per gross square foot for an educational and general facility $1.25 per gross square foot for an auxiliary facility Report includes the status of the maintenance transfer for each new facility for which a loan or bond issue was approved for the construction or purchase of that facility
AGENDA ITEM NO. 14: REPORT ON INTERCOLLEGIATE ATHLETIC REVENUES & EXPENDITURES Jake Eddington Program Specialist, Institutional Finance
Athletic Report A.C.A. §6-62-106 directs AHECB to develop and establish uniform accounting standards and procedures for reporting revenues and expenditures. Athletic revenues and expenditures for 2013-14 have been collected and compiled in summary report provided for you in the agenda book.
Athletic Report The 2013-14 Athletic actual expenditures for state-supported universities was $140.8 million and $530,403 for two-year colleges. This represents a decrease of 2.36 percent over 2012-13 – UAF (7.6%), UAM (6.7%) and NAC (7.2%) reported decreases in athletic expenditures. Total Expenditures for Athletics should equal Total Revenues for Athletics unless there is excess athletic revenue for that year. – UAF and ATU had revenues greater than expenditures for FY2014.
Revenues by Source Revenues All Institutions Percentage of Total Revenues Athletic Generated Income78,418,48355.1% Student Athletic Fees23,928,54116.8% Other Athletic Income16,729,27911.8% CWSP Federally Funded Portion242,9280.2% Other Auxiliary Profits12,273,6448.6% Transfers from Unrestricted E&G9,715,4846.8% Prior Year Fund Balance949,1820.7% Total Revenues$142,257,541100%
Athletic Revenues by Source 2009-10 % of Athletic Revenues By Source 2013-14 for Universities
Expenditures by Source ExpendituresAll Institutions Percentage of Total Expenditures Salaries, Fringe Benefits, Extra Help52,812,17237.5% Financial Aid24,514,60517.4% Travel16,457,25511.7% M&O21,611,50715.3% Facilities8,094,6445.7% Debt Service11,813,2548.4% Other5,512,1543.9% Total$140,815,591100%
Athletic Revenues by Source 2009-10 % of Athletic Expenditures By Source 2013-14 for Universities
AGENDA ITEM NO. 15 UNIVERSITY OF ARKANSAS-FORT SMITH: ROLE AND SCOPE CHANGE MASTER OF SCIENCE IN HEALTHCARE ADMINISTRATION Cynthia Moten Associate Director, Academic Affairs
UA-Fort Smith Role and Scope Change Master of Science in Healthcare Administration UAFS authorized to offer master’s-level degrees upon Coordinating Board approval of role and scope change. Initial master’s degree in healthcare administration.
AGENDA ITEM NO. 16 UNIVERSITY OF ARKANSAS AT LITTLE ROCK: TEXARKANA CENTER Cynthia Moten Associate Director, Academic Affairs
Agenda Item No. 17 Institutional Certification New ICAC Institutions and Representatives The Chicago School of Professional Psychology - Sheetal Kale Los Angeles, California– 4 Degrees Frontier Nursing University - Julie Marfell Hyden, Kentucky – 2 Degrees, 1 Certificate Independence University - Alan Hansen Salt Lake City, Utah – 1 Degree Initial Degree Certifications 21 Colleges and Universities; 66 Programs -Baptist Health Schools Little Rock-Little Rock, Arkansas - 2 Degrees -Jefferson Regional Medical Center School of Nursing-Pine Bluff, Arkansas - 1 Degree
Agenda Item No. 18 – Letters of Notification Agenda Item No. 19 – Letters of Intent Letters of Notification Programs approved by the ADHE Director with AHECB notification prior to implementation Letters of Intent Notification of institutional plans to offer new programs or organizational units that require Coordinating Board approval
MOU with Taiwan In an early morning transcontinental ceremony Oct. 7, the Arkansas Department of Higher Education signed a letter of memorandum with the Department of International and Cross-strait Education, Ministry of Education, Republic of China (Taiwan).
AGENDA ITEM NO. 5 UNIVERSITY OF ARKANSAS SYSTEM ESTABLISHMENT OF NEW ONLINE CAMPUS: EVERSITY Shane Broadway Director
eVersity The administration and Board of Trustees of the UA System request official recognition of the eVersity which will offer degree programs by distance technology, in collaboration with existing UA institutions eVersity will be 100 percent online and all student services will be available in completely online formats The first class of students would enroll in the eVersity Fall 2015
Agenda Item No. 6 Program Deletions AHECB Meeting of October 31, 2014
Rick Jenkins Associate Director, Planning and Accountability
Institutions Certified under ICAC Rules 2013: 98 institutions 13 Arkansas campuses 90 institutions with programs delivered only through distance technology 6 institutions offering programs both on Arkansas campuses and delivered through distance technology 2 institutions offering programs only on Arkansas campuses
43 Type of DegreeNumber of degrees offered Associate of Applied Science89 Associate of General Studies2 Associate of Arts24 Associate of Science20 Bachelor of Arts27 Bachelor of Science231 Master’s179 Doctoral24 Total596 Degrees Offered July 1, 2011 – June 30, 2012
44 Type of DegreeNumber of degrees offered Associate of Applied Science123 Associate of General Studies2 Associate of Arts27 Associate of Science26 Bachelor of Arts54 Bachelor of Science347 Master’s309 Doctoral38 Total926 Degrees Offered July 1, 2012 – June 30, 2013
45 Type of DegreeNumber of degrees offered Associate of Applied Science132 Associate of General Studies2 Associate of Arts36 Associate of Science37 Bachelor of Arts75 Bachelor of Science445 Master’s464 Doctoral57 Total1,248 Degrees Offered July 1, 2013 – June 30, 2014
Business Criminal Justice Health Administration/Services Information Technology Nursing Organizational Leadership Psychology Common Degrees offered July 1, 2013 – June 30, 2014
July 1, 2011 – June 30, 2012 Total Enrollment – 13,758 Online enrollment 8,832 Arkansas campus enrollment 4,926 Total Graduates – 1,788 Online graduates1,163 Arkansas campus graduates 625 Student Enrollment and Graduates
Total Enrollment – 14,943 Online enrollment 11,185 Arkansas campus enrollment 3,758 Total Graduates – 1,838 Online graduates1,270 Arkansas campus graduates 568 Student Enrollment and Graduates July 1, 2012 – June 30, 2013
Total Enrollment – 16,786 Online enrollment – 14,080 Arkansas campus enrollment – 2,706 Total Graduates – 1,800 Online graduates1,231 Arkansas campus graduates 569 Student Enrollment and Graduates July 1, 2013 – June 30, 2014
Graduates Type of DegreeNumber of Graduates by Degree Type Associate of Applied Science368 Associate of General Studies5 Associate of Arts281 Associate of Science3 Bachelor of Arts50 Bachelor of Science557 Master’s495 Doctoral4 Total1,763 July 1, 2011 – June 30, 2012
Graduates Type of DegreeNumber of Graduates by Degree Type Associate of Applied Science316 Associate of General Studies0 Associate of Arts224 Associate of Science26 Bachelor of Arts14 Bachelor of Science586 Master’s655 Doctoral18 Total1,839 July 1, 2012 – June 30, 2013
52 Graduates Type of DegreeNumber of Graduates by Degree Type Associate of Applied Science240 Associate of General Studies2 Associate of Arts159 Associate of Science42 Bachelor of Arts64 Bachelor of Science632 Master’s641 Doctoral20 Total1,800 July 1, 2013 – June 30, 2014
Tuition Per Credit Hour 2011-2012 ICAC Institutions Arkansas Public Institutions In StateOut of State Undergraduate Degrees Lowest Tuition $263$176$270 Highest Tuition $493$239$481 Graduate Degrees Lowest Tuition $313$170$379 Highest Tuition $1,623$377$834
Tuition Per Credit Hour 2012-2013 ICAC Institutions Arkansas Public Institutions In StateOut of State Undergraduate Degrees Lowest Tuition $257$64$96 Highest Tuition $670$205$664 Graduate Degrees Lowest Tuition $295$175$356 Highest Tuition $1,680$454$1,075
Tuition Per Credit Hour 2013-2014 ICAC Institutions Arkansas Public Institutions In StateOut of State Undergraduate Degrees Lowest Tuition $107$65$100 Highest Tuition $892$244$692 Graduate Degrees Lowest Tuition $330$182$370 Highest Tuition $1,818$361$1,111
43 institutions offering only church-related training 4 institutions offering programs on military installations The majority (51% of total annual enrollment) of students enrolled at the institution located on the military installation must be active or retired military personnel and their dependents. Out-of-state institutions (primarily public institutions) approved by state higher education agencies to offer degrees by distance technology through a recognized regional education compact such as the Southern Regional Education Board (SREB). Institutions Exempt from Certification 56
SARA is a national initiative backed by a grant from the Lumina Foundation in cooperation with SREB and other regional education compacts and accrediting agencies. ADHE must certify Arkansas colleges and universities offering distance technology programs for SARA participation based on institutional accreditation, financial stability, and student complaint resolution policy and procedures. SARA participation is optional. Colleges and universities must pay a nominal participation fee to SARA annually. However, ADHE will not charge Arkansas colleges and universities a fee for SARA participation. ADHE will submit the state application for SARA participation in December 2014 with an effective date of July 2015 for Arkansas colleges and universities to participate in SARA. State Authorization Reciprocity Agreement (SARA) 57