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June 2008 Finance and Budget Presentation President Nancy L' Zimpher Monica Rimai, Senior VP, Admini

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Monica Rimai, Senior VP, Administration and Finance. June 24, 2008. 2 ... 2009-2010 Biennium. Uptown Campus. Medical Science Building Rehabilitation $26.4M ... – PowerPoint PPT presentation

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Title: June 2008 Finance and Budget Presentation President Nancy L' Zimpher Monica Rimai, Senior VP, Admini


1
June 2008Finance and Budget PresentationPres
ident Nancy L. ZimpherMonica Rimai, Senior VP,
Administration and FinanceJune 24, 2008
2
Presentation Agenda
  • FY 2008 Close
  • Operating
  • Capital
  • FY 2009 Budget
  • Operating
  • Capital
  • Status on 3-5 Year Plan

3
FY 2008 Year End Projection
4
FY 2008 Year End Projection
5
FY 2008 Year End Projection
6
FY 2008 Year End Projection
7
FY 2008 Year End Projection
8
FY 2008 Year End Projection
9
FY 2008 Year End Projection
10
FY 2008 Year End Projection
11
FY 2008 Major Capital Projects
12
Major Projects in Design and Construction During
FY 2008
13
Kettering Preclinical Science Lab Renovation
Description Renovation of space for research
labs on Level 200 Justification To meet the
need for additional research space for the
Department of Environmental Health Funding
Debt Total Project 2.76 million
14
Langsam Library Roof
Description Roof replacements Justification
Complete replacement of roofs required to protect
library Funding Debt Total Project 2.7
million
15
McMicken Perimeter Heating
Description Heating system upgrades Justificatio
n Only half of this 1948 buildings heating
systems have been replaced - the south portion in
2007 Funding State Total Project 2.2 million
16
MSB Rehabilitation Ph 1, Center for Academic
Research Excellence (CARE), and Eden Quad
Description Renovation of 171,000 sq ft for the
medical library and student service space and
240,000 of new academic research and swing
space Justification To address research space
needs and upgrades to existing MSB
systems. Funding State, Debt, Federal Grants,
Gifts, Local Total Project 204.8 million
17
MSB Rehabilitation Phases 2-5
Description Renovation of mechanical and
building systems for the 940,000 gross sq ft
Medical Sciences Building Justification The
existing systems are extensive, deteriorated, and
at the end of their useful life. Lab air
requirements have changed Funding State, Debt,
Federal Grants, Gifts, Local Total Project
204.0 million
18
Teachers College/Dyer Renovation - Phase 2
Description Major renovation of approximately
1/3rd of the total complex of three buildings
originally built between the 1930s and
1950s Justification Major renovation needed to
address deteriorated systems, windows, and
building envelope and to respond to current
teaching needs and standards Funding State,
Debt, Gifts, Local Total Project 18.9 million
19
Zimmer Rehabilitation Phase 1
Description Renovation of the large lecture
hall, and supporting HVAC, life-safety, and
audio-visual systems Justification Furniture,
finishes, audio visual, and systems dated to
original construction in the 1970s. Fire
suppression of the large auditorium
necessary Funding State Debt Total Project
3.1 million
20
Clifton Court Garage Renovation
Description Replace top deck, replace concrete
structural steel, upgrade electric and
ventilation systems Justification Major
structural repairs needed for this 1960s-era
garage Funding State Debt Total Project
4.6 million
21
FY 2009 Budget
22
FY 2009 University Current Funds Budget Plan
Summary of Budgeted Resources Total
University Resources by Source
23
FY 2009 University Current Funds Budget Plan
Summary of Budgeted Expenditures Total
University Expenditures by Function
24
FY 2009 Budget Process
  • Transparency
  • Presidents Budget Advisory Committee (PBAC)
  • Fiscal Coordinating Committee (FCC)
  • Academic Operations Committee (AOC)
  • Faculty Senate
  • Cabinet
  • Executive Committee
  • Board of Trustees (BOT)

25
FY 2009 Income Assumptions
  • State Appropriation Increase of 9.8 14.9M

26
FY 2009 Income Assumptions
  • Tuition Fees
  • Resident Undergraduate frozen
  • State Mandate
  • Non-Resident Undergraduate no increase
  • University Decision
  • Gross Tuition Inflation 2.3M
  • All Graduate Programs increase 2
  • Professional Schools increase 2
  • College of Medicine increase additional 2
  • FY08 Core Tuition Adjustment 600K
  • Enrollment Increase per IEP Goals
    3.9M
  • Total 6.8M

27
FY 2009 New Expenditure Allocation Highlights
  • Achieving Academic Research Excellence
  • Academic Priorities 1.1M
  • Supporting Enrollment Growth 500K
  • UC21 21st Century Learning 1.4M
  • Academic Salaries 7.2M
  • Funding the Research Initiative 3.0M
  • Library Acquisition 267K
  • Academic Building Lab Integrity 1.6M
  • Revenue Generating Programs 3.5M
  • This figure represents the permanent AAUP salary
    increase for both FY 2008 and FY 2009

28
FY 2009 New Expenditure Allocation Highlights
  • Other University Expenditure Highlights
  • 2 Salary Increase unrepresented staff
    2.0M
  • Union Contract Salary Increase non-faculty 650K
  • Performance-Based Budgeting 258K
  • University Diversity Initiative 350K
  • University-Wide Roof Repair 500K

29
FY 2009 Summary
30
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31
FY 2009 Capital Budget
32
Criteria for Projects
  • Academic Priorities
  • STEMM
  • Highest and Best Use of Existing Space
  • Renovations of Existing Academic Space
  • Sustainability

33
State Capital Appropriations2009-2010 Biennium
  • Uptown Campus
  • Medical Science Building Rehabilitation 26.4M
  • Basic Renovations - 10.7M
  • The Procter Hall Façade Replacement project has
    been allocated 4.0M
  • The remaining 6.7M has been allocated to small
    renovation projects below the threshold for Board
    approval
  • Instructional Equipment - 1.7M
  • Clermont College
  • Capital Allocation 751K
  • Basic Renovations - 326K
  • Instructional Equipment - 87K
  • Raymond Walters College
  • Capital Allocation 1.6M
  • Basic Renovations - 501K
  • Instructional Equipment - 130K

34
Projects for Budget Approval
35
Projects for Budget Approval
  • Energy Savings Projects (Ongoing)

Description Projects to improve plant
efficiencies, improve existing systems
efficiencies and operations, and to provide major
upgrades to facilities Justification To reduce
energy use, to comply with the mandates of HB
251, and to meet the commitments of the American
College and University Presidents Climate
Commitment Funding Debt proceeds Total
Project 10.0 million
36
Projects for Budget Approval
  • Kettering North Wing Demolition/Site Preparation

Description Demolition of North Wing Lab
building Justification Unused facility is not
structurally sound and does not provide
appropriate space for future research Funding
Debt Total Project 3.0 million
  • DRC Comments
  • Agreement with building assessment
  • Recommend demolition approval

37
Projects for Budget Approval
  • Procter Hall Façade Replacement

Description Replacement of existing panels with
new sun control façade Justification Existing
panels contain asbestos and bird-droppings Funding
State Basic Renovation funds Total Project
4.0 million
38
Projects for Budget Approval
  • Rieveschl 500 Level Teaching Labs Renovation

Description Renovation of approximately 5,000
sq ft of existing chemistry teaching
labs Justification Labs have not been upgraded
since original construction in 1970s - systems,
equipment, and finishes outdated and
deteriorated, current teaching needs and
standards need to be met Funding Debt
proceeds Total Project 6.0 million
39
Projects for Budget Approval
Teachers College/Dyer Renovation Phase 2A
Description Departmental and faculty office
renovations, teaching lab renovations,
consolidation of College operations in Edwards,
and restoration of site and perimeter
access Justification Allows mission-critical
College operations that are split to function in
most effective manner until Phase 3 funding can
be secured Funding Debt Total Project 2.5
million
40
Projects for Budget Approval
  • Morgens Scioto Residence Hall Upgrades

Description A series of separate projects to
upgrade fire alarms, install fire suppression,
replace furnishings, and improve apartment
interiors Justification The buildings are not
fire-suppressed, alarms need upgrading, and
furnishings need replacement Funding Debt Total
Project 10.0 million
41
Status on 3-5 Year Plan
42
(No Transcript)
43
Status on 3-5 Year Plan
  • Guiding Principles
  • Transparency
  • Speaking the Truth
  • Collaboration
  • Building Capacity

44
Cost Containment and Efficiency
  • INITIATIVES TO INCREASE REVENUE
  • INITIATIVES TO IMPROVE ACADEMIC QUALITY
  • INITIATIVES TO USE OUR LIMITED
  • HUMAN AND FISCAL RESOURCES
  • MORE EFFECTIVELY

45
Status on 3-5 Year Plan
  • Recovery Factors
  • Creation of AF
  • Cash Policy
  • University-Wide Approach
  • Accountability
  • Financial Policies
  • Business Reviews
  • Realistic Budgeting

46
Status on 3-5 Year Plan
  • Creation of Administration and Finance
  • Checks and Balances
  • Internal Audit
  • General Counsel
  • Speak the Truth

47
Status on 3-5 Year Plan
  • Operating Cash Policy
  • Board approved in November 2006
  • Established operating cash balance levels
  • Disciplined payoffs of existing deficit funds
  • No new deficit funds permitted without approval

48
Status on 3-5 Year Plan
Average
Minimum
49
Status on 3-5 Year Plan
  • University-Wide Approach
  • Campus Services ahead of schedule
  • College of Medicine paid off Milliennium Plan
  • Athletics work in progress
  • Utilities ahead of schedule
  • West Campus Colleges making headway
  • Research good start
  • Benefits deferred

50
Recovery Plan Cash Reserve Update
  • Quasi-Endowment and Designated Funds
  • Quasi transferred to Cash Reserve in FY 2007 -
    38.6M
  • Funding used in FY 2008 to pay off deficits while
    adhering to underlying donor restrictions -
    18.1M
  • College of Medicine - 15.7M
  • College of Engineering - 1.3M
  • Various other colleges - 1.1M
  • Current Quasi Cash Reserve balance - 20.5M
  • 1 of Monthly Operations Cash Balance

51
Restructure of Debt
  • Restructure of June 2008 and Future Restructure
    of June 2009 Principle Payments
  • FY 2008 Cash Reserves increased by 26.7M
  • FY 2009 Cash Reserves to be increased by 26.7M

52
Status on 3-5 Year Plan
  • Financial Policies
  • Eight new policies
  • Approximately 1300 trained to date
  • Easy access policy question hotline
  • Policy on Policies

53
Status on 3-5 Year Plan
  • Business Reviews
  • Campus Services
  • Parking
  • Utilities
  • Athletics

54
Campus Services Budget Overview
  • Consolidated Financial Overview

projected
55
Campus Services Budget Overview
  • Revenue Enhancements
  • Housing Occupancy moved from 93 to 95 yearly
    average plus rate increases
  • Food Services increased sales of independent
    meal plans, commissions, and profit-sharing
  • Campus Recreation increases to non-student
    membership, program and rental revenue
  • Retail improved upon guarantee from operator
  • Kingsgate maintained occupancy, improved
    margin, rate increases
  • University Conferencing growth in number of
    conferences managed
  • MainStreet Catskellar and Cinema improvements,
    food sales growth
  • Campus Life fee growth due to enrollment
    increase

56
Campus Services Budget Overview
  • Cost Containment and Reduction
  • Food Service lowered meal plan costs
  • Housing reduced OM costs by reducing
    frequencies of cleaning, reducing staff, reducing
    phones (land-lines), reduced cost of resident
    staff, and other costs
  • Eliminated travel and staff development expenses
  • Reduced programming expenses at both MainStreet
    and Campus Recreation
  • Overall reduction in positions since end of 2006
    60
  • Utility savings in auxiliary buildings with more
    hands-on management
  • Operational savings based on contribution margin
    analysis

57
Status on 3-5 Year Plan
  • Realistic Budgeting
  • All-university process
  • Tied to academic priorities

58
Status on 3-5 Year Plan
  • Going Forward
  • Pay Back on Quasi Draw
  • Enterprise Risk Management
  • Enrollment Plan with refined forecasting
  • 5-10 year Financial Plan with accurate, refined
    forecasting

59
The Credits
  • Provost Office
  • Deans
  • AHC
  • EC
  • PBAC
  • FCC
  • BMO
  • FPDC
  • DC
  • CS
  • BCS
  • FM
  • CU
  • UCit
  • GC
  • PDC
  • PS
  • IA
  • BA

60
Status on 3-5 Year Plan
  • Vision
  • Balanced budget based on Academic Priorities will
    be norm
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