Slide #1.

University Budget Review and Update
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Slide #2.

Today’s Goals • General understanding of the university’s budget • Shared understanding about the current fiscal reality • Defined strategies undertaken to address financial challenges • Share a vision for the future
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Slide #3.

Budget Review FY18 Operating Budget Revenue Sources $207,706,722
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Slide #4.

Current Financial Reality • • • • Declining state support Tuition rate freeze – six consecutive years Declining enrollment Depleting cash “savings”
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Slide #5.

“Budget 101” Review budget scenarios: 1. Balanced Operations 2. Impact of Cash Savings “Burn Down” 3. Impact of Enrollment Decline 4. Current Financial Reality
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Slide #6.

General Fund Operations Carryover Carryover “Savings” Tuition Revenue Authorized Spending State S P E N D I N G Tuition Revenue “Budget” Authorized Spending State Scenario: Balanced Operations
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Slide #7.

General Fund Operations Fiscal Year 16 Fiscal Year 17 Carryover Tuition Revenue Authorized Spending State Fiscal Year 18 Carryover S P E N D I N G Tuition Revenue State S P E N D I N G Tuition Revenue State Out Scenario: Burn Down S P E N D I N G
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Slide #8.

General Fund Operations Fiscal Year 15 Fiscal Year 16 Fiscal Year 17 Carryover Carryover Tuition Revenue Authorized Spending State S P E N D I N G Tuition Revenue State S P E N D I N G Tuition Revenue S P E N D I N G State Scenario: Enrollment Decline
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Slide #9.

Overspending Authorized Budget Tuition Revenue State S P E N D I N G Enrollment Shortfall Carryover Tuition Revenue Spending
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Slide #10.

Current Financial Reality FY18 Projections for General Fund (102) Structural Deficit $4,166,810
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Slide #11.

Budget Strategies Costs Revenue
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Slide #12.

Cost Reduction Strategies Align budget with enrollment FY19 • $2.5 Million Reduction FY20 • $2.0 Million Reduction Invest in efficiencies Streamline Processes Electronic Forms Technology Enhancements
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Slide #13.

Revenue Growth Strategies Strategic Recruitment Retention Fundraising Marketing Market-based Programs
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Slide #14.

Foundational Strategies Strategic Investment Fund Academic Budget Allocation Model Non-Academic Budget Allocation Model
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Slide #15.

Vision for the Future Self-Reliance – we define our financial future Financial Sustainabilitysufficient reserves, ability to invest in innovation Balanced Budget – aligned with enrollment projections
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Slide #16.

Business Affairs FY19 Reduction Plan
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Slide #17.

FY19 Reduction Plan 12% $294,70 1
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Slide #18.

FY19 Reduction Planning Process Guiding Principles 20% Reduction Exercise Reduction Decisions Divisional Staff Retreat
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Slide #19.

FY19 Budget Reduction Plan Division Reductions
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Slide #20.

FY19 Budget Reduction Plan Division Investments
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