Manhattan College Senate FY 2017 Operating and Capital Budget Review FY 2018 Operating and Capital Budget Development March 21, 2017

FY 2017 Operating and Capital Budget Forecast Revenue Freshman Enrollment – 10 Students above budget Returning Students – 55 Students above budget - $2 million total Financial Aid - .4% variance – savings Graduate Tuition – On-Line MBA – above budget – just under $300,000 July Intersession – continues to trend above budget - $335,000 SCPS – SCPS Graduate On-Line programs – over-attainment - $200,000 Advancement – Gift Income – Dinner – Annual Fund – over- attainment - $1.4 million Conference Income – Loss of two weeks impact – just under $400,000 Total Revenue projected – just under $4 million

FY 2017 Operating and Capital Budget Forecast Expenditures Compensation – Vacancies – less than prior year - $600,000 Benefits – Rates are consistent - $765,000 General Expense – Small savings – just under $200,000 Debt Service – Additional Expense of almost $200,000 Utilities – variance of $700,000 due to mild winter Capital budget – Variance in savings utilized for Depreciation Athletics Projects – Turf Field, Bleachers, Main Court Deferred Maintenance Projects identified in the Master Plan Physical Plant Relocation Projected Net Budget not including year end requests - $508,700

Variance report 2016-2017 as of Feb 23,2017 MANHATTAN COLLEGE Variance report 2016-2017 as of Feb 23,2017 2016-17 Budget Projection BDGT vs PROJ Revenues 1 Undergrad-Tuition & Prog. Fees 129,456,200 132,096,000 2,639,800 Freshman were 10 above budget; returning students 55 above budget 2 Undergrad-Room & Board 29,341,300 29,293,000 -48,300 4 residents below budget 3 less: Undergrad Financial Aid -56,992,860 -57,640,000 -647,140 Line 1 \ Line 3: 44.0% Actual 43.6% Var-positive 0.4% 4 Net Undergraduate 101,804,640 103,749,000 1,944,360 5 Graduate Tuition 7,666,500 7,950,000 283,500 On-line MBA above budget 6 less: Graduate Financial Aid -317,700 -322,000 -4,300 7 Net Graduate 7,348,800 7,628,000 279,200 8 Intersession Tuition 1,852,200 2,220,000 367,800 July intersession over budget $335k- 54% higher than pr yr 9 SCPS and Other Tuition 2,971,250 2,947,000 -24,250 AP program under $132k -29% lower pr yr: SCPS Grad on line +$200k 10 Student Fees(excl Prg. Fees) 5,634,100 5,820,000 185,900 related to the higher enrollment line 1 11 Other Student- Income 10,457,550 10,987,000 529,450 12 Grant Income - Operating 622,000 627,000 5,000 13 Gift Income - Operating 3,393,000 4,793,000 1,400,000 Dinner $850k; Bequests $190k; Annual $230k: other $130k 14 Facilities Rental Income 2,372,000 1,976,600 -395,400 Conference under bdgt $378k - 12% lower than pr yr 15 Investment Income - Spendable 1,485,300 1,402,000 -83,300 16 Other Operating Income 1,685,000 1,935,000 250,000 Payment plan $35k;Commission $70k; Parking $40k 17 Revenue (net of Financial Aid) 129,168,290 133,097,600 3,929,311 Expenses 18 Salary 61,806,300 61,190,000 616,300 several faculty positions vacant 19 Fringe Benefits 19,469,000 19,320,000 149,000 Work comp and disability under; tuition remission over 20 Total Salary & Benefits 81,275,300 80,510,000 765,300 21 Department Operating exp. 21,737,315 21,550,000 187,315 22 Food Service 7,601,675 7,617,000 -15,325 23 Debt Service 6,740,000 6,900,000 -160,000 paid off the Dept. of Ed mortgage 24 Utilities 4,170,300 3,470,000 700,300 lower rates and mild winter 25 Marketing & Publications 2,095,800 2,004,000 91,800 26 Capital & Replacement 5,547,900 10,537,900 -4,990,000 Facilities relocation to Garage $2M; Increase Deferred Maintenance $2M; Athletic-Draddy Bleachers and Basket ball court $990K 27 Total Non-Personnel Exp. 47,892,990 52,078,900 -4,185,910 28 Total Expenses 132,588,900 -3,420,610 29 Net Income 508,700

FY 2018-20 Operating Budget Forecast – Enrollment Strategy 2017-18 Freshman Enrollment Goals by School School Goal Arts 185 Business 190 Education and Health 92 Engineering 280 Science 83 Total 830

FY 2018-20 Operating and Capital Budget Development FY 2017-18 Key Assumptions - Revenues Net Tuition Income Increase(3.5%) $8,827,000 Financial Aid Increase(0.4%) ($5,757,000) Other Revenue Increase(2-4%) $3,045,000 Total Projected Revenue Increase $6,115,000 Notes FY 2018 Freshman Class 830 Transfer 170 0.4% increase in the Discount Rate for Financial Aid All other Revenues 2-3%

FY 2018-20 Operating and Capital Budget Development FY 2018-20 Key Assumptions – Expense Compensation $2,451,000 Health Benefits $1,847,000 Debt Service flat budget Utilities flat budget Capital, Renewal and Replacements $1,000,000 General Operating Expense $422,000 Total Projected Expense Increase $5,720,000 Notes Compensation – Projected Budget Pool Health Benefits – 8% - broker recommended Debt Service – Will be determined by Spring Debt Service Project Utilities – 0% Operating Capital– 0% + $1 million increase General Operating Expense – 3%