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Budget Overview

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... of a University budget? ... Budget document is 20 pages of detail. Financial managers of all ... Budget to actual comparison presented quarterly at public ... – PowerPoint PPT presentation

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Title: Budget Overview


1
Budget Overview
  • Budget Information Committee
  • February 26, 2007

2
Questions submitted in advance
  • What is the purpose of a University budget?

3
Budget Overview
  • Purpose of a Budget
  • Governing document
  • Management tool and spending plan
  • Communication of the University's priorities
  • A baseline for financial performance

4
Questions submitted in advance
  • What is the purpose of a University budget?
  • What processes are in place to ensure budget
    transparency and communication of budgetary
    information to the university community?

5
Budget Overview
  • Budget Transparency
  • Public document posted on YSU website.
  • Budget document is 20 pages of detail.
  • Financial managers of all university depts.
    receive budget detail report.
  • Discussed and approved by Board of Trustees at
    public meetings.
  • Budget to actual comparison presented quarterly
    at public Board meetings.
  • Audited financial statements posted on web.
  • Budget Information Committee.

6
Budget Overview
  • YSUs General Fund Budget
  • FY 2007 135 million
  • 13,183 students (fall 2006)
  • 1,050 employees
  • 1,800 student employees
  • 139 acres with 41 major buildings
  • 2.7 million square feet of building space

7
Budget Overview
  • General Fund Revenues by Source, FY 2007

8
Budget Overview
  • Tuition vs. State Funding, FY02 FY06

9
Budget Overview
  • YSU Tuition vs. State Funding for YSU, FY02
    FY06

10
Budget Overview
  • State funding trends

11
Budget Overview
  • General Fund Expenditures by Division, FY07

12
Questions submitted in advance
  • What is the purpose of a University budget?
  • What processes are in place to ensure budget
    transparency and communication of budgetary
    information to the university community?
  • Why have the budget increases for Academic
    Affairs been lower than other divisions in
    recent years?

13
Budget Overview
14
Budget Overview
  • Budget Change since FY 2001

15
Budget Overview
  • YSUs FTE Enrollments

16
Budget Overview
  • YSU Faculty (FTE)

17
Budget Overview
  • YSU Student to Faculty Ratio (FTE)

18
Questions submitted in advance
  • What is the purpose of a University budget?
  • What processes are in place to ensure budget
    transparency and communication of budgetary
    information to the university community?
  • Why have Academic Affairs budget increases been
    lower than other divisions in recent years?
  • Why did institution-wide increase by 44.2?

19
Budget Overview
  • Office of the President

20
Office of the President
  • Total FY 2007 budget 4,427,870

21
Questions submitted in advance
  • What is the purpose of a University budget?
  • What processes are in place to ensure budget
    transparency and communication of budgetary
    information to the university community?
  • Why have Academic Affairs budget increases been
    lower than other divisions in recent years?
  • Why did institution-wide increase by 44.2?
  • Why did other administration increase by 39?

22
Budget Overview
  • Administration

23
Questions submitted in advance
  • What is the purpose of a University budget?
  • What processes are in place to ensure budget
    transparency and communication of budgetary
    information to the university community?
  • Why have Academic Affairs budget increases been
    lower than other divisions in recent years?
  • Why did institution-wide increase by 44.2?
  • Why did other administration increase by 39?
  • Why did non-divisional transfers increase?
    Provide specific accounting of transfers,
    including transfers to the Foundation.

24
Budget Overview
  • Non-Divisional Transfers

25
Budget Overview
  • University policy on Transfers
  • All inter-fund transfers 100,000 must be
    approved by the Board of Trustees.
  • All inter-fund transfers of lt100,000 must be
    reported to the Board of Trustees.
  • All transfers within the operating budget
    250,000 must be reported to the Board of
    Trustees.
  • Transfers between General Fund and YSU Foundation
    are rare.

26
Questions submitted in advance
  • What is the purpose of a University budget?
  • What processes are in place to ensure budget
    transparency and communication of budgetary
    information to the university community?
  • Why have Academic Affairs budget increases been
    lower than other divisions in recent years?
  • Why did institution-wide increase by 44.2?
  • Why did other administration increase by 39?
  • Why did non-divisional transfers increase? Please
    provide specific accounting.
  • Where is the money from healthcare co-pays going?

27
Budget Overview
  • Fringe Benefit Costs 23.6 million in FY06

28
Budget Overview
  • Budget Growth since FY 2000 FY 2007

29
Questions submitted in advance
  • What processes are in place to ensure budget
    transparency and communication of budgetary
    information to the university community?
  • Why have Academic Affairs budget increases been
    lower than other divisions in recent years?
  • Why did institution-wide increase by 44.2?
  • Why did other administration increase by 39?
  • Why did non-divisional transfers increase? Please
    provide specific accounting.
  • Where is the money from healthcare co-pays going?
  • An accounting of all reserve funds?

30
Budget Overview
  • Reserve Funds
  • Funds set aside for a rainy day
  • Reserves ? base dollars.
  • Reserves one-time dollars.

31
Budget Overview
  • Institutional Reserves
  • 5 Operating Contingency 6,760,000
  • Plant funds
  • Housing Services 1,153,000
  • Kilcawley Center 1,342,000
  • Parking Services 893,000

32
Budget Overview
  • States measure of fiscal health places an
    emphasis on maintaining reserves.
  • The states scoring system places the greatest
    weight on reserves.
  • Net Income 20 of total score.
  • Viability 30 of total score.
  • Primary Reserve 50 of total score.
  • If financial distress is detected, a campus can
    be placed under state fiscal watch.

33
Budget Overview
  • Capital Budget
  • FY 2007 44.4 million
  • Not part of operating budget
  • Funding sources
  • State capital appropriations
  • Philanthropy
  • Debt proceeds

34
Budget Overview
  • Debt per FTE - Ohio public universities, FY05

35
Budget Overview
  • Budget Process
  • December June
  • Develop revenue estimates
  • Develop enrollment projections
  • Develop tuition fee scenarios
  • Obtain up-to-date state funding estimates from
    Ohio Board of Regents

36
Budget Overview
  • Budget Process
  • December June
  • Model expenditures
  • Personnel costs are priority
  • Other fixed costs
  • Other base costs

37
Budget Overview
  • Budget Process
  • March
  • Present draft budget to Board of Trustees
  • June
  • Submit final budget to Board for approval
  • December
  • If necessary, submit a modified budget to the
    Board for approval

38
Budget Overview
  • Other questions for future discussion
  • Summer School Committee report
  • Banner budget
  • Student wages
  • Other topics?
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