CREIGHTON UNIVERSITY 2007/08 Budget Presentation Board of Directors Meeting June 4, 2007

2007/08 Operating Budget Overview Represents a balanced budget for University operations, including the medical clinics Undergraduate enrollment sustained at near-record levels Undergraduate tuition & fee rate for new students up 6% (will be 15th of 28 Jesuit colleges and universities) 2007/08 operating budget is $326 million, an increase of $14 million (4.5%) from the current year estimate Medical School budget (including clinics) is 41% of the University’s total operating budget

2007/08 Operating Budget ($Millions)

2007/08 Revenue Highlights General undergraduate tuition and fee rate increased 6% Other tuition rate increases: Law 4%, Medicine 4.5%, Dentistry 7.3%, Pharmacy 5.5%, OT/PT 4%, Graduate 2%, Summer & Univ. College 0% Room & board rates increased 4% Total enrollment budgeted to be basically even with the FY07 record enrollment Clinical activities and affiliate revenues are up 4.2% Endowment distribution of $9.6M is 1.2% above FY07

Annual Enrollment (Full-time Equivalent)

Fall New Student Enrollment (Full-time Equivalent)

Total Scholarships to Tuition/Fees (Includes Discount, Funded Aid & Employee Remissions)

Unrestricted Operating Gifts

Endowment CU only: does not include HFF ($91 Million at 4/30/07)

2007/08 Expense Highlights Salary merit pool increase 3.50% (plus.25% for equity adjustments in each VP area): $4.1M Targeted faculty salary enhancements: Pharmacy, Nursing, Dentistry ($547K) 8 new faculty: A&S, COBA, Dentistry ($540K) Jesuit & staff salary market adjustments ($310K) New programs in Dentistry & Nursing ($662K)

2007/08 Expense Highlights (cont.) General non-salary increase 2.0% for schools and administrative depts ($724K) Library materials increase $333K (9%) Arts & Sciences additions related to increased enrollment levels (PT faculty, tenure-track faculty start-up costs & other) $405K Increased diversity scholarships ($415K - Medicine, Pharmacy/HP, Dentistry)

Salary Merit Pool Increases (Excludes targeted faculty salary enhancements in various schools)

Employee Benefits ($000’s)

School of Medicine 2007/08 Operating Budget Overview Enrollment budgeted at 485 (down from est. 488 in 06/07) Tuition increase held to 4.5% to address student debt Net clinic revenue projected at $98M (5.3% over 2006/07 budget & 6.5% over estimated 06/07 results) New chair in Medicine; actively recruiting for Anesthesiology Clinic volume growth: 12 new faculty recruitments (Surgery, Radiology, Medicine & Anesthesiology) Reflects reduced payments from CUMC under GME, Cardiac and medical lab agreements

School of Medicine 2007/08 Operating Budget ($Millions)

RECAP Balanced budget for FY08 Less cushion in enrollment targets Highest risk areas: medical clinic operations, health plan, utilities Operating reserve expected to be adequate to cover potential variances