1. Budget Update
January 15, 2019

2. Fiscal 2019 and 2020 Update
FY19
Projecting a small deficit in FY19 (~$2.0M)
Monitoring Spring enrollment for improvement/deterioration of revenue
Utilizing variance reports to inform forecast
Tracking known positive and negative variances
Q1 Variance reports
OBFP file summarizing all required variances & explanations
OBFP contact individual areas if explanations are missing and schedule meetings in cases of significant variances requiring further discussion
Looking at measures to close the gap
Anything areas can do to support –Summer enrollment, retention efforts (add/drop ends 2/4), cost reductions, etc.

3. Fiscal 2019 and 2020 Update
FY20
Budget templates/instructions/calendar to be finalized next week
Look and feel similar to FY19 budget template
FY16, FY17, FY18 and YTD FY19 actual, FY19
Subsidiaries will change due to Axiom design needs but totals will tie to history
FY20 is in a deficit position ($5.0M+)
Leadership team looking at strategic options to close gap
Flat funding AND cut scenario templates (2)
Cut scenario % will be across payroll and non-payroll spending and will augment the strategic options that campus leadership is reviewing
Flat scenario will hold harmless for CB increases.
Well researched and planned revenue options that have a net positive impact on FY20 will be considered