Campus Budget Update October 12, 2012

Tuition Proposed Tuition Rates: + 2.5% Fall 2010 Fall 2011 Fall 2012 Undergraduate Resident $ $ $ Non-Resident $ $ $ Graduate Resident $ $ $ Non-Resident $ $ $

Approved Budget Unallocated Recurring Carry Forward $ 175,673 Carry Forward ,266 Carry Forward 2010 & Prior 64,498 7% Contingency Fund 1,872,327 Total$2,876,764

Approved Budget Income State Appropriations Operating$ 0 Debt Service$( 286) x

Approved Budget Income Student Tuition & Fees Enrollment Change$ 0 Rate Change Resident 993,921 Non-Resident 294,525 Technology Fee 43,190 Repair Rehabilitation Fee 22,000 Total Student Tuition & Fees$1,353,636 x

Approved Budget Income Other Income Interest$( 300,000) CE Income 35,000 Admission Fee 120,000 International Fee 55,000 Total Other Income$( 90,000) Total New Income$1,263,350 x

Approved Budget Allocations 2% Salary Pool$ 922,000 Benefits 202,000 Academic Promotions 60,720 Benefits 21,280 Benefit Cost Increases 908,313

Approved Budget Allocations Positions Dean, EMS (Partial) $ 67,147 Dean, Management (Partial) 88,419 Department Head, Behavioral Sciences (Partial) 29,555

Approved Budget Allocations Positions Asst. Coach Men’s Soccer 5,000 Asst. Coach Women’s Soccer 5,000

Approved Budget Allocations Positions Asst. Director-ADA Compliance 50,000 Secretary, EEOC Office 29,453

Approved Budget Allocations Positions Benefits related to new positions $ 96,739

Approved Budget Allocations Supplies and Expense Athletic Expansion Men’s Soccer$ 12,750 Women’s Soccer 12,750 M&W Cross Country 9,000

Approved Budget Allocations Supplies and Expense EEOC Office$ 642 Commencement 40,000

Approved Budget Allocations Supplies and Expense Chancellor’s Scholarships$ 200,000 Fee Remissions (119,550) Utilities and Insurance 247,655 Schneider Ave. Lease 22,100 Administrative Overhead 146,552 Bank Service Charges 25,000 Debt Service ( 286)

Approved Budget Allocations Supplies and Expense Admissions Support (Fee) $ 120,000 International Program Office (Fee) 55,000 Technology Reserve (Fee) 43,190 R&R Reserve (Fee) 22,000 Remaining unallocated budget$ 141,002

Financial Results October 12, 2012

Financial Results Revenues: State Appropriations$( 10,894) Tuition & Fees ( 542,665) F&A Recovery 249,671 Interest Income ( 161,828) Academic Outreach 356,805 Financial Aid Overhead 50,790 Application and Other Fees 43,194 Bookstore Commission ( 96,584) Total$( 111,511)

Financial Results Expenditures Enrollment Reserve$ 637,578 Other ( 251,725) Employee Benefits 400,000 Utilities 862,949 Debt Service (State) 10,894 Bank Service Fees 95,376 Fee Remissions 130,878 Total$1,885,950 Net$1,774,439

Financial Results Cash Carry Forwards Operations$ 1,774,439 Cash Contingency Reserve 3,300,000 F&A Reserve 445,000 Unspent Recurring Budget Reserve 1,120,731 Unspent Prior Year Cash Reserve 2,581,184 Total Cash Carry Forward$ 9,221,354

Financial Results Utilization of Cash Carry Forwards Cash Contingency Reserve $ 3,300,000 F&A Cost Distribution694,671 On-Line Program Advance655,812 Yellow Ribbon/Veteran Dependent Scholarships 75,000 Commencement 17,625 Faculty Office Relocation149,505 Accreditation Expenses 77,644 Miscellaneous 15,200

Financial Results Utilization of Cash Carry Forwards Campus Development Reserve $ 200,000 Chancellor’s Contingency Res 150,000 Chancellor’s Scholars 1,000,000 Academic Management 67,748 ADA Support138,712 Governmental Relations110,700 Dowling Park Planning 42,700 Total Allocation $ 6,695,317 Remaining $ 2,526,037

Financial Results Carry Forward Funds Central$ 9,221,354 Chancellor 137,881 Academic Affairs 6,980,704 Administrative Services 1,455,662 Advancement 561,264 Information Services 2,437,432 Student Affairs 435,483 Special Projects 4,012,973 Total$25,242,753

Financial Status October 12, 2012

Financial Status Carry Forward Reserves Contingency Fund $ 3,300,000 Cash Carry Forward 2,500,000 Budget Reserve Enrollment Reserve$ 637,538

Financial Status Tuition Revenue Summer-6.28% ($ 254,371) Fall-5.62% ($1,419,719) Total To Date: ($1,674,090) Spring (Estimate) ($1,300,000) Estimated Annual Total ($2,974,090)

Financial Status Other Revenue Sources? Other Expenditure Budgets? Nothing noted but too early to tell

Potential Budget October 12, 2012

Potential Budget Unknowns Going Forward Revenues Tuition Revenue Summer/Fall 2012 Actual/ Spring Estimated ($ 2,974,000) Rate Increase ?

Potential Budget Unknowns Going Forward Revenues State Appropriations Incentive Formulas($ 21,000) Increased State Revenues ?? Other Interest Income($ 300,000)

Potential Budget Unknowns Going Forward Expenditures “Unavoidables” $ 1,100,000 Health Insurance Other Employee Benefits PERF Retirement Utilities Salary Adjustments?

Potential Budget Unknowns Going Forward Expenditures Strategic Initiatives

State Budget Request Operating Funds-ICHE Recommendations Incentive Funding Budget Reduction Reallocation General Increases Based on Increases in State Revenues ?

State Budget Request Operating Funds-ICHE Recommendations Budget Reduction % % Both from the same base, not cumulative.

State Budget Request Operating Funds Incentives (Indiana Students Only) Overall Degree Completion 30% At-Risk Degree Completion 15% High Impact Degree Completion 10% Student Persistence 15% On-Time Graduation Rate 25% Institution Defined Metric 5%

State Budget Request Operating Funds-ICHE Recommendations Incentives – Dropped From Prior Cycle Successful Completion Credit Hour Dual Credit Successful Completion Research Incentive Funding

State Budget Request Operating Funds-ICHE Recommendations Incentives (Indiana Students Only) Overall Degree Completion Bachelor$ 7,795 x 66 Master$ 3,898 x 4$ 527, Bachelor$ 9,094 x 66 Master$ 4,547 x 4 $ 615,372

State Budget Request Operating Funds-ICHE Recommendations Incentives (Indiana Students Only) At-Risk Degree Completion (Pell Grant Recipient at Time of Graduation) Bachelor$ 5,503 x 84$ 462, Bachelor$ 6,420 x 84 $ 539,320

State Budget Request Operating Funds-ICHE Recommendations Incentives (Indiana Students Only) Student Persistence th Credit Hr $ 765 x th Credit Hr $ 1,530 x 84 $ 179, th Credit Hr $ 893 x th Credit Hr $ 1,785 x 84 $ 209,738

State Budget Request Operating Funds-ICHE Recommendations Incentives (Indiana Students Only) On-Time Graduation Rate (4 years) Bachelor $ 22,921 x 16 $ 359, Bachelor $ 26,741 x 16 $ 418,949

State Budget Request Operating Funds-ICHE Recommendations Incentives (Indiana Students Only) Institution Defined Metric (Degree Attainment per Undergraduate FTE) $ 60, $ 70,468

State Budget Request Operating Funds-Process ICHE Recommendations Legislative Considerations Revenue Estimate(s) Budget Bill Passed Governor’s Signature Revenue Actual

State Budget Request Capital Funds -Emerging Technology Building $ 37.4 Million -Student Wellness and Recreation Center $ 15.7 Million (student fees) -Repair and Rehabilitation $ 1.3 Million (per year) x

Questions?