1 Budget Allocation Advisory Council Budget Overview FY 2015
Operating Fund Targeted Tuition & Student Fees Federal Appropriations Targeted State Appropriations Grants & Contracts Gifts, Endowment & Investment Income Enterprise Operations Total Revenue $574M 108M 17M 37M 163M 73M 1,198M $2,170M 26.4% 5.0% 0.8% 1.7% 7.5% 3.4% 55.2% 100% Fiscal Year 2015 Funding Sources
“Enterprise” Operations Hospitals & Clinics University Physicians Athletics University Stores Residential Life Campus Dining Veterinary Medicine Research Reactor Agriculture Parking KOMU Office of Research/Patent & Royalty Other $739M 162M 56M 53M 47M 30M 15M 14M 9M 8M 7M 4M 54M $1,198M 61.7% 13.5% 4.7% 4.5% 3.9% 2.5% 1.2% 0.8% 0.6% 0.3% 4.5% 100%
General Operating Sources Total: $574M Operating Fund State Appropriations$182M Tuition$355M Indirect Cost $37M
Salaries and Wages Benefits Operating Expenses Total Expenses 61% 18% 21% 100% Fiscal Year 2015 Operating Fund Expenses
27% 70% 3 % Change in General Operating Funding Sources TUITION STATE SUPPORT
Tuition & Fee Comparison 2014 – 2015 Institution AAU Public AAU Public & Private SEC Big Ten Big XII University of Missouri-Columbia Average $11,465 $26,510 $11,737 $14,345 $14,678 $9,433 Lowest $6,313 $8,070 $6,960 Highest $17,772 $51,008 $43,838 $47,251 $38,723 Combined Tuition & Fees Source: Association of American Universities Data Exchange (AAUDE) Annual Academic Year Tuition and Required Fees Composite Report
Strategic Operating Plan Five year plan 2014 to 2018 Drives how new state funds will be allocated Identifies our priorities as a campus All significant resource decisions will be related to the plan
Strategic Operating Plan 1.Strengthen interdisciplinary and experiential learning for Mizzou’s undergraduate, graduate, and professional students 2.Recruit, develop, and retain faculty and staff in order to promote MU’s strategic goals 3.Grow MU’s high-impact research and creative activity by enhancing campus infrastructure and other resources 4.Ensure that MU’s revenue model allows for strategic investments and leverages MU’s strengths to drive state and regional economic development
Strategic Plan Report
Status:FY14 planned expenditures= $55M FY14 actual expenditures= $67M Next:Measure results against goals Communicate results Adjust FY15 plan based on results Strategic Plan Update 11
Current year (FY14) Adjustments Discontinued NTT research hiring (2.1.2) Began integration of Mizzou Advantage with SOP Strategic Plan Adjustments 12
Done through a substantial adjustment to scholarship policies for AY15 admissions. Current projections of measured results: Increase in high ability students Current estimate is a 25% increase in 30+ ACT students/slightly more than 200 students Positive impact on overall enrollment $5.5M increase in scholarship expenditures Lever 1.3 Recruit and Retain Best Students 13
20 New “Signature” Faculty will be hired over the next 4 years Medicine – 5 Health Sciences – 2 Physical Sciences – 4 Life Sciences (Plant) – 4 Engineering – 4 Journalism (New Media) – 1 Lever 2.1 Future Faculty Hiring 14
Faculty hiring—Deeper Topical Dive Medical & Health Sciences – Epigenetics (1) – Microbiome (1) – Health Outcomes-Medical Informatics (1) – Neuroscience-Brain Imaging- Rehab (1) – Psychology-Addiction (1) Physical Sciences – Chemistry Inorganic (1) Theoretical (1) Plant-Life Sciences – Plants Stress (2) – 4 joint-hires with the Danforth Plant Sciences Center (2) Big Data Computational Methods (1) Bio-informatics (1) Social Science (Demography?) (1) Geography/Geospatial (1) Journalism/New Media (1) Engineering Eldercare (1) Nuclear Hardened Materials (1) Nanotechnology (1) Biomedical (1) 15
Internal reallocation for merit increases Same expectation as last year that departments self fund these increases We anticipate achieving about the same level of increases as last year Other actions Merit increases for high-performing faculty Faculty promotion increases will be provided centrally by the campus Lever 2.3 Faculty and Staff Compensation 16