Campus Wide Open Forum Budget Update

Budget Topics FY16 Current Year budget update FY17 Budget Process Revenue Tuition Rates Enrollment Projections Millennium FAST Budget Software Timeline April: Formal approval of Tuition/Fee rates for FY17 May: Auxiliary Budgets June: Budgeted Operations Budget

FY 2015-2016 Budget Update FY15 Final FY16 Budget FY16 Forecast Comments State Aid 17,065 20,393 Tuition, Fees, net of remissions 33,043 33,672 34,965 Improved Enrollment over forecast Minimally offset by Increased remissions Other 1,915 1,863 1,965 Total Revenue 52,023 55,927 57,322 Personnel Services (Labor) 42,953 45,447 46,185 Inc. due to Enrollment: faculty and GAs Supplies and Services 8,054 8,472 8,738 Utilities/Oth cost increases Total Expenditures 51,007 53,919 54,923 Net from Operations 1,016 2,008 2,399 Net Transfers In/(Out) 1,942 (652) (427) Fund Additions (Deductions) 56 - Change in Fund Balance 3,013 1,357 1,973 Beginning Fund Balance 1,745 4,758 Ending Fund Balance 6,115 6,731 Ending Fund Balance as a % of Revenue 9.1% 10.9% 11.7%

FY 2016-2017 Budget Process Tuition and Mandatory Fees Proposed by: Tuition Rates - Tuition Advisory Council (4 Students, 2 Faculty, 2 Administrators) Student Incidental Fee – Student Fee Committee (all Student Lead) Student Health Fee – Student Health and Wellness center Student Recreation Center Fee – Student Fee Committee (all Student Lead) President and Cabinet receive proposals, make formal proposal to Board Special Fees – Academic and Division Directors Revenue Development – Budget Department, in consultation with Stakeholders Expenditure Development – Budget Application Courtesy of OUS Chancellor’s Office – Millennium FAST

FY 2016-2017 Budget Timeline Tuition and fee rate recommendations Initially presented to campus groups: Feb Formally presented for Board approval: April Enrollment projections combined with rates = Revenue Formally presented for Board approval : May Auxiliary Operations Budget Finalization Budgeted & Designated Operations Budget Finalization Formally presented for Board approval : June

FY 2016-2017 Proposed Budget So Far: Some known, others…targets Tuition – 3% increase for all Undergraduates Flat for all Graduates Fees – Incidental Fee: $13 increase for Student Referendum Health Fee: 5+% for salary increases, new student success initiatives Rec Center Fee: $40 increase to cover full year of debt svc + partial operations Building Fee: No increase Enrollment Projection – 0.2% Increase, per retrenchment plan projections Labor – Increases due to negotiated COLA, Step and YIR increases Maintain growth due to FY16 Enrollment Growth and Student Success Initiatives Supplies and Services – Maintain flat from FY16

Questions?