UW-Platteville Financial OverviewOctober/November 2013

Robert Cramer - Vice ChancellorCathy Riedl-Farrey - Director, Financial Services

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• Summary of Funding Sources• UW-Platteville Financial Update

– 2012-13 Closing Balances (June 30, 2013)– 2012-13 All Funds Budget– Tuition and enrollment– Budget Forecast model– TSI Detail– Debt Service Detail

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• General Purpose Revenue (GPR) – includes general funding, specific purpose funding, and earmarked funding from the state, primarily from state sales and income taxes [Funds 102, 104, 109, 110, 402, 403, 406]

• Program Revenue (PR) – includes tuition, auxiliaries, and segregated fees, as revenues received for services or from users [Funds 123, 128, 131, 132, 136, 189]

• NOTE: Segregated fees are charges assessed to students including textbook rental, health services, student center operations, athletics, intermural sports, parking, student activities (allocable), municipal

services, children’s center and ID systems.

• Federal Revenue (PR-F) – includes federal grants, financial aid, direct loans, as revenues from a federal agency [Funds 144 – 150]

• Gifts and Grants – includes revenues from the Foundation, non federal grants [Funds 133, 134, 184, 233]

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UW-Platteville Financial Update

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FY2012-13 Closing Balances• All Funds Summary (Cash Basis)

Beginning Cash $ 24,495,297 (July 1, 2012)

Total Revenue $149,680,085Total Expenses $145,363,000Net Income $ 4,317,085

(Excluding direct student loan amounts)

Closing Balance $ 28,812,382(June 30, 2013)

Select Fund Balances• Fund 102 $ 5,796,557

– (General operations, tuition revenue, base of $50 million)

• Fund 123 $ 4,030,686 (Debt service, $6.5 M base)

• Fund 128 $ 3,442,588– (Dining, housing, parking, base of $31.6 million)

• Fund 131 $12,660,368(DLC, School of Ed Cost Recovery, TSI, base of $18.7 million)

• Fund 136 $ 2,110,868– (Similar to 128, HTCP, camps & conferences, base of $4.3 million)

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Carry Over Balances by College/Division

* Includes budget lapse and university wide carryover items. **Academic Affairs & Student Affairs are now combined under Provost***Excludes accounts that automatically carryover (i.e. Fund 128, 136, some 131)

DivisionFY14

ApprovedFY14

RequestedFY13

ApprovedAdministrative Services * 993,666 1,371,986 696,321 Admissions & Enrollment Mgt 184,893 184,893 48,262 Advancement 35,000 52,792 222,100 BILSA 370,705 553,392 171,683 Chancellor - - - Diversity & Inclusion 173,365 264,145 80,363 EMS 855,900 1,463,453 702,727 LAE 624,768 723,858 52,212 Provost ** 462,396 876,111 190,698 University Wide (35,027) - -

Total *** 3,665,666 5,490,630 2,164,366

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2001-02 Budget

Tuition$16,185,195

22%

Auxiliary Enterprises$20,714,713

29%

Specific Purpose Tax Dollars

$5,868,0198%

General Purpose Tax Dollars

$23,786,91332%

Extension$795,229

1%

Gifts and Grants$839,192

1%

State funding of 40%

Final 2001-2002 UW-Platteville Budget $73.6 Million

Federal$5,454,8337%

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2013-14 Budget

Final 2013-2014 UW-Platteville Budget $184.5 Million (all funds)

Final 2013-2014 UW-Platteville Budget$135.9 Million (excluding federal aid)

State Funding of 21%

State Funding of 16%

General Purpose Tax Dollars16261394

9%Specific Purpose Tax Dol-

lars1264524

47%

Tuition5711940

631%

Federal5048901

027%

Gifts and Grants

14309001%

Auxiliary Enter-prises

45941182

25%

Extension588569

0% General Purpose Tax Dol-lars

1626139412%

Specific Purpose Tax

Dollars12645244

9%

Tuition57119406

42%Federal

18957001%

Gifts and Grants

14309001%

Auxiliary En-terprises

4594118234%

Extension588569

0%

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Financial Forecast Assumptions

• Revenue modeling to project available funds from the state, TSI, and tuition (traditional undergrads and grads)

• Key variables are tuition, enrollment and state support• Assumes 0.0% increases in tuition annually for 2013-15 and 2% thereafter• Assumes flat enrollment at Fall 2013 levels except for TSI• Assumes TSI growth to 1510 in FY2014-15 and fluctuating from 1490 – 1510

through 2018-19• Assumes TSI faculty & staff change maintaining the current faculty/staff to

student ratio of TSI,13:1 & 25:1; Decrease of 14 positions and $1.1 million• Assumes base budget reduction for GPR of $1.7M; current plan of $3,000,000

base on-going reduction; $290,000 staff reduction of 6 positions• Assumes 1% pay plan for TSI expenditures for 14-15 forward; 2% thereafter.

Assumes GPR pay plan funded by state so no cost factors included• Assumes TSI incentive grant will be for new students only starting in Fall 2014.

No continuing student grants.

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Tuition Target for Pooled Revenue=$34,264,494 Variance

Original Estimate 5.2013 $36,179,000 $1,914,000

Fall 2013 $35,470,000 $1,200,000

Spring 2014

TSI Estimate 5.2013 $15,320,000 -

Fall 2013 $14,310,000 -$1,010,000

Spring 2014

Tuition Revenue

Note – these figures exclude distance learning, study abroad, and school of education cost recovery students

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EnrollmentOriginal

Fall Billing FTE

Fall 2013 Billing FTE

OriginalSpring Billing

FTE [90%]

Revised Spring 2013 Billing FTE

Undergrad Resident 5,510 5,515 4,960 4,965

Undergrad NonRes 180 155 160 140

Graduate Resident 95 74 85 65

Graduate NonRes 25 18 25 15

Subtotal Pooled Enrollment 5,810 5,762 5,230 5,185

TSI Enrollment 1,580 1,482 1,420 1,335

Total Pooled & TSI Enrollment 7,390 7,244 6,650 6,520

Enrollment ProjectionsFY2013-

14FY2014-

15FY2015-

16FY2016-

17FY2017-

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Undergraduate 5,670 5,665 5,665 5,665 5,665

Graduate 92 90 90 90 90

Subtotal Pooled Enrollment 5,762 5,755 5,755 5,755 5,755

TSI Enrollment 1,482 1,510 1,490 1,500 1,510

Total Pooled & TSI Enrollment 7,244 7,265 7,245 7,255 7,265

Previous Projection 7,390 7,480 7,505 7,515 7,515

Reduction -146 -215 -260 -260 -250

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Budget Forecast ModelProjected Closing Balances

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

As of 10/30/13

7,226,539

5,103,282

2,904,645 163,724 (2,969,162) (6,468,742)

Current Scenario

Board of Regent Thresholds – 10% and 15% Amount

10%$6,100,000

15%$9,100,000

Above scenario assumes:$3M base on-going reduction; Additional $1.4M and approx. 20 positions are reduced due to lower enrollment projections in 14-15; Another $364,000 & 4 positions in 15-16

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Budget Reduction Plans

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Budget Reduction PlansContinued

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TSI Budget Detail

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Debt Service• UW-Platteville has two types of debt service

on facilities– General Fund Borrowing is funded through state

appropriations of general purpose revenue– Program Revenue Borrowing is funded through

University revenues including TSI• Debt is issued centrally by the State• 20 year bonds are typical

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Debt Service DetailDescription Fund

FY2012 Budgeted

FY2013 Budgeted

FY2014 Budgeted

Bond End Date

General Fund 110 3,590,333 7,463,788 9,276,494 Parking 123 204,400 265.200 288,500 FY2032PAC 123 12,716 - - FY2012Fieldhouse Addition 123 430,704 380,807 382,500 FY2033Children's Center 123 36,092 35,854 36,500 FY2020Markee Pioneer Stdnt Ctr 123 926,966 934,511 946,800 FY2021Residence Halls 123 1,919,439 2,160,374 3,760,100 FY2033Stadium 123 155,808 156,287 157,400 FY2030Food Service/Union 123 441,453 439,809 441,100 FY2031Chancellor's Residence 123 15,360 15,289 15,600 FY2019Subtotal 123 4,142,938 4,388,131 6,028,500 TSI 194/123 2,070,000 2,070,000 2,070,000 FY2031 Grand Total Debt Service 11,675,826 13,921,919 17,374,994

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• Budget Reduction Plans– Implementation: $3 million– Start 2014-15 planning now with emphasis on

base reductions• Revision of Budget Management Principles• Targeted 10% balance and timing

Next Steps