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

2. 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

3. 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

4. Variance report 2016-2017 as of Feb 23,2017
MANHATTAN COLLEGE
Variance report as of Feb 23,2017
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

5. FY 2018-20 Operating Budget Forecast – Enrollment Strategy
Freshman Enrollment Goals by School
School Goal
Arts
Business
Education and Health 92
Engineering
Science
Total

6. FY 2018-20 Operating and Capital Budget Development
FY 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
0.4% increase in the Discount Rate for Financial Aid
All other Revenues 2-3%

7. FY 2018-20 Operating and Capital Budget Development
FY 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%