planning and budget committee february 20, 2015. agenda current financial position sequester revenue...

Planning and Budget Committee

February 20, 2015

Agenda

• Current Financial Position• Sequester• Revenue and Expenditure Comparisons FY08

to FY14• FY16 Revenue and Expenditures• Effects of Tuition Changes

Fiscal Year 2015 as of 01/31/2015

Budget 2014-15 Year-to-Date Projected 2014-15

TOTAL REVENUES $71,661,617.00 $34,031,039.96 $70,357,993.66 TOTAL PERSONNEL COSTS 50,278,780.00 17,569,444.13 47,460,000.00 TOTAL OPERATING EXPENDITURES 21,882,593.00 10,037,010.57 24,534,500.00 TOTAL OPERATING TRANSFERS IN 499,756.00 -10,080.00 499,756.00Excess Revenues Over Expenditures $0.00 $6,414,505.26 -$1,136,750.34

Auburn University at Montgomery Financial PositionFor Period Ending January 2015 and Projections through September 2015

Sequester

• Possible sequester of O&M funds if revenue does not increase

• Funds would be placed in a holding account to cover year-end deficit or be returned to units

Revenue Comparison FY08 to FY14

Revenue Comparison FY08 to FY14FY08 FY14

Tuition and Fees 23,181,366.21 41,754,746.47 State Appropriations 31,026,696.00 22,557,727.00 Indirect Cost Recoveries 1,383,557.70 811,380.85

Gifts and Private Support 4,445.00 41,374.00 Endowment Income 269,490.46 332,813.19 Investment Income 246,695.28 1,773.18 Sales and Services 1,046,187.25 2,619,221.73 Contracts and Grants - 303,910.99 Other Sources Revenue 2,196,518.97 856,278.77

Total Revenues 59,354,956.87 69,279,226.18

Expenditure Comparison FY 08 to FY14

Expenditure Comparison FY 08 to FY14Personnel Costs

FY08 FY14Faculty Salaries 13,792,905.36 19,511,532.38 Other Salaries 10,959,447.17 10,805,637.38 Wages 6,580,455.55 5,868,510.41 Employee Benefits 9,278,753.73 10,671,874.88

Total Personnel Costs 40,611,561.81 46,857,555.05

Expenditure Comparison FY 08 to FY14Other Operating Costs

FY08 FY14Utilities 2,619,038.41 3,175,649.36 Communications 725,406.38 467,851.97 Leases, Repairs, & Maintenance 1,435,987.72 2,155,517.44 Travel and Entertainment 1,049,746.90 1,508,828.48 Awards & Professional Services 3,135,466.40 4,442,404.40 Internal Service Dept Credits 57.10 29,280.95 Publication Expense 254,837.30 249,822.21

Foreign Subcontracts 13,782.50 0.00 Administrative and Professional 1,610,253.57 2,718,332.35 Product Purchases 2,174,287.16 2,761,404.20

Student Aid 2,112,352.89 5,924,250.59 Non-Capital Equipment 1,548,953.36 1,017,189.85 Operating Plant 24,881.00 0.00 Indirect Cost Recovery Expense - 14,710.68

Interdepartmental Credits (1,217,451.23) (1,541,944.97) Transfers (133,464.97) (546,814.92)

Total Other Costs 15,354,134.49 22,376,482.59

http://www.aum.edu/admissions/financial-affairs/cashier-office/financial-information

• Administration tab• Financial Affairs

Possible FY16 Revenue Changes• State Appropriations: 1% $226,638• Tuition: 1%

$385,622• Fees:

– Student Parking 4,000 @ $30 $120,000– Faculty/Staff Parking 100 @ $75 $7,500

Possible FY16 Expenditure Changes• Tenure and Promotions: $57,000

– Benefits $17,000• Salary/Wage Increases: 1% $322,424

– Benefits $100,000• Debt Service• Scholarship increase to match tuition increase• Strategic Plan Priorities – Year 3

Subcommittees

• Enrollment Projections for 2015-2016• Impacts of Tuition Changes on students and

the University

Effects of Tuition Changes

Dr. Allison Terry

Tuition Increases for Resident Undergraduate Students

New Undergraduate Students Enrolled (Full-Time)

Total Undergraduate Enrollment

Graduations Per Year (Bachelors)