23
1 FY 2008 Auxiliary Budgets Summary BOG Budget & Finance BOG Budget & Finance September 26, 2007 September 26, 2007

FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

  • Upload
    others

  • View
    6

  • Download
    0

Embed Size (px)

Citation preview

Page 1: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

1

FY 2008 Auxiliary Budgets Summary

BOG Budget & FinanceBOG Budget & Finance September 26, 2007September 26, 2007

Page 2: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

2

Overview of Auxiliary Operations

Provide high level overview in preparation for approval of FY 2008 auxiliary budgets in September.

Auxiliaries consist of four basic groups:Housing Auxiliary and Business Operations

Parking, Student Center, Contact Services, Bookstore,Mort Harris Recreation Center, McGregor Center

South End Newspaper & University PressWDET

Page 3: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

3

What Makes up the Auxiliary Enterprise? ($37 M)

Housing46%

Student Center8%

Dean of Students1%

McGregor0%

WDET7%South End

1%Univ Press

6%

Contract Services3%

Bookstore2%

Fitness Center5%

Parking21%

Auxiliary and Business Operations 47%

Page 4: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

4

Auxiliary Operations OverviewAuxiliary Summary Actual Projected BudgetCategory FY 2006 FY 2007 FY 2008Beg Net Assets $3,721.9 $1,802.4 $2,655.0RevenueNon-Operating $1,877.7 $1,659.1 $1,657.2Operating $30,576.7 $33,036.4 $35,354.3Total Revenues $32,454.4 $34,695.5 $37,011.5ExpendituresOperating $23,313.0 $23,998.1 $24,241.0Transfers Out $11,060.9 $12,911.8 $12,840.0Temp. Transfer--In $0.0 ($3,067.0) $0.0Total $34,373.9 $33,842.9 $37,081.0Change Net Assets ($1,919.5) $852.6 ($69.5)Ending Net Assets $1,802.4 $2,655.0 $2,585.5

$ in thousands

Page 5: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

5

Dean of StudentsDean of Students Actual Projected BudgetCategory FY 2006 FY 2007 FY 2008Beg Net Assets $0.0 $20.8 $35.5RevenueNon-Operating $0.0 $0.0 $0.0Operating $407.0 $401.4 $409.7Total Revenues $407.0 $401.4 $409.7ExpendituresOperating $386.2 $386.7 $409.7Transfers Out $0.0 $0.0 $0.0Temp. Transfer--In $0.0 $0.0 $0.0Total $386.2 $386.7 $409.7Change Net Assets $20.8 $14.7 $0.0Ending Net Assets $20.8 $35.5 $35.5

$ in thousands

Page 6: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

6

South EndSouth End Actual Projected BudgetCategory FY 2006 FY 2007 FY 2008Beg Net Assets $83.0 $83.0 $89.0RevenueNon-Operating $116.7 $121.6 $116.7Operating $73.0 $82.0 $73.0Total Revenues $189.7 $203.6 $189.7ExpendituresOperating $189.7 $197.6 $189.7Transfers Out $0.0 $0.0 $0.0Temp. Transfer--In $0.0 $0.0 $0.0Total $189.7 $197.6 $189.7Change Net Assets $0.0 $6.0 $0.0Ending Net Assets $83.0 $89.0 $89.0

$ in thousands

Page 7: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

7

University PressUniversity Press Actual Projected BudgetCategory FY 2006 FY 2007 FY 2008Beg Net Assets $433.3 $434.7 $434.8RevenueNon-Operating $444.6 $442.5 $425.5Operating $1,796.6 $1,517.3 $1,815.7Total Revenues $2,241.2 $1,959.8 $2,241.2ExpendituresOperating $2,239.8 $1,959.7 $2,239.8Transfers Out $0.0 $0.0 $0.0Temp. Transfer--In $0.0 $0.0 $0.0Total $2,239.8 $1,959.7 $2,239.8Change Net Assets $1.4 $0.1 $1.4Ending Net Assets $434.7 $434.8 $436.2

$ in thousands Note: Need GF support #

Page 8: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

8

South End & University PressSouth End

Budget Cuts will reduce paper to a weekly publicationDaily editions will still be available on-lineNew Website created

A survey was created to evaluate website68% “love” the changes21% say is it “OK”11% liked the old design and site

University PressUniversity contribution will be reduced in FY 2008Published 31 books last year9 books in last five years have received the Historical Society of Michigan Award of Merit

Page 9: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

9

Auxiliary & Business OperationsAuxiliary Services Actual Projected BudgetCategory FY 2006 FY 2007 FY 2008Beg Net Assets $3,013.1 $2,117.5 $1,876.0RevenueNon-Operating $16.8 $15.1 $15.0Operating $12,569.2 $14,380.3 $14,813.9Total Revenues $12,586.0 $14,395.4 $14,828.9ExpendituresOperating $8,221.7 $9,794.1 $10,425.0Transfers $5,259.9 $4,842.8 $4,307.0Total $13,481.6 $14,636.9 $14,732.0Change Net Assets ($895.6) ($241.5) $96.9Ending Net Assets $2,117.5 $1,876.0 $1,972.9

$ in thousands

Page 10: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

10

Auxiliary & Business Operations Highlights

BookstoreStrong involvement in community activities such as local author book signings, the Detroit Festival of the Arts and university programs including new student and parent orientation.Strong financial support of faculty and chair awards.

Mort Harris Recreation & Fitness CenterCreated an Outdoor Adventure Program and increased participation by 100% over 2005.Increased revenue for the 2007 Mort Harris Recreation and Fitness Center Summer Camp and all other programs.Introduced intramural sports with 400 participants.Improved efficiency and utilization of the facility with the swimming pool infill project.

Page 11: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

11

Auxiliary & Business Operations Highlights

ParkingIncreased campus awareness regarding alternative transportation systems such as DDOT/SMART and SEMCOG with special incentives to Faculty and Staff.The University-Wide Shuttle Bus Program ridership rates improved by 30% in one year.Successfully parked over 3,000 vehicles and shuttled 2007 WSU Commencement attendees to and from parking structures and Matthaei.Upgraded all elevators and security cameras in parking structures.Worked with the Detroit Science Center throughout the “Our Body” exhibit—as of mid May parked over 10,000 vehicles.

Page 12: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

12

Housing & Residential LifeHousing Actual Projected BudgetCategory FY 2006 FY 2007 FY 2008Beg Net Assets ($136.2) ($943.8) $12.2RevenueNon-Operating $47.7 $0.0 $0.0Operating $14,764.7 $15,917.0 $17,042.0Total Revenues $14,812.4 $15,917.0 $17,042.0ExpendituresOperating $9,819.0 $9,119.0 $8,476.0Transfers Out $5,801.0 $8,069.0 $8,534.0Temp Transfers In $0.0 ($2,227.0) $0.0Total Expenditures $15,620.0 $14,961.0 $17,010.0Change Net Assets ($807.6) $956.0 $32.0Ending Net Assets ($943.8) $12.2 $44.2

$ in thousandsInitially Approved April 2007

Page 13: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

13

Housing HighlightsRate Adjustments

The Housing Authority Board approved a 3% rate increase in Resident Halls, 6% rate increase for DeRoy, Sherbrooks and University Tower Apartments, and a 9% increase for DeRoy (one and two bedroom).

HighlightsAutomation of the housing application and assignment process to enhance students services.Improved retention of returning residents by developing a new process allowing current residence to sign-up for housing assignments in March/April.Accommodated over 16 Summer Conferences with an estimate attendance of 1,500 people during June, July, and August of 2007.Increased Programs & Events in areas such as:

Health and WellnessFinancial ProgramsCommunity ServiceSocial and Cultural

Implemented Recycling Programs in Residence Halls and apartments and promoted Energy Conservation events in:

Waste ReductionConserving EnergyTips on Saving Natural Resources

Page 14: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

14

Occupancy for Housing 2008 (as of September 2007)

Residence Hall Invent.This Year

(Sept 2007)Students Moved In

Move in Occupancy

Ghafari 360 318 278 77%South 440 426 412 94%The Towers Residential Suites 849 671 586 69%Total 1,649 1,415 1,276 77%

Apartment Signed LeasesPercent

OccupiedUniversity Tower 300 296 99%DeRoy 252 243 96%Chatsworth 86 68 79%Sherbrooke 25 23 92%Total 663 630 95%

Occupancy for Housing 2007Residence Hall Invent. Contracts

SignedPercent

OccupiedGhafari and South 800 636 80%The Towers Residential Suites 849 673 79%Total 1,649 1,309 79%

Apartment Contracts Signed

Persent Occupied

University Tower 300 285 95%DeRoy 252 248 98%Chatsworth 86 73 85%Sherbrooke 25 23 92%Total 663 629 95%

Page 15: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

15

WDET Radio StationWDET Actual Projected BudgetCategory FY 2006 FY 2007 FY 2008Beg Net Assets $328.7 $90.2 $207.5RevenueNon-Operating $1,251.9 $1,079.9 $1,100.0Operating $966.2 $738.4 $1,200.0Total Revenues $2,218.1 $1,818.3 $2,300.0ExpendituresOperating $2,456.6 $2,541.0 $2,501.2Transfers Out $0.0 $0.0 $0.0Temp. Transfer--In $0.0 ($840.0) $0.0Total $2,456.6 $1,701.0 $2,501.2Change Net Assets ($238.5) $117.3 ($201.2)Ending Net Assets $90.2 $207.5 $6.3

$ in thousands

Page 16: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

16

WDET UpdateInterim General Manager named

Finalizing a three-year business plan which establishes and communicates revenue and growth targets, maintains cost containment measures and identifies WDET’s strategic direction and focus toward increased financial stability.

Reprioritization of staffing and introduction of new programming (i.e., Detroit Today) to support WDET’s commitment to its news and information format and assist in rebuilding listener loyalty.

Targeted improvement in corporate underwriting sales revenue through a focused sales staff, strategic sales leadership and outreach efforts to increase membership base.

Cultivation of relationships with other University departments to utilize expertise in grant-writing, donor cultivation, and marketing.

Page 17: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

17

Auxiliary SummaryImproving and Enhancing quality of student life.

Providing additional amenities for students, faculty and staff.

Auxiliary Enterprise at WSU is relatively young compared to most institutions.

Continued to explore opportunities to maximize revenues for the good of the University.

Page 18: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

18

BookstoreBookstore Actual Projected BudgetCategory FY 2006 FY 2007 FY 2008Beg Net Assets $211.4 $37.9 $43.3RevenueNon-Operating $16.8 $15.1 $15.0Operating $811.7 $792.1 $791.0Total Revenues $828.5 $807.2 $806.0ExpendituresOperating $192.5 $92.3 $199.5Transfers Out $809.5 $709.5 $644.5Temp. Transfer--In $0.0 $0.0 $0.0Total $1,002.0 $801.8 $844.0Change Net Assets ($173.5) $5.4 ($38.0)Ending Net Assets $37.9 $43.3 $5.3

$ in thousands

Page 19: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

19

Contract ServicesContract Services Actual Projected BudgetCategory FY 2006 FY 2007 FY 2008Beg Net Assets $722.1 $767.8 $674.3RevenueNon-Operating $0.0 $0.0 $0.0Operating $929.5 $1,232.7 $1,284.7Total Revenues $929.5 $1,232.7 $1,284.7ExpendituresOperating $530.2 $872.6 $937.5Transfers Out $353.6 $453.6 $253.6Temp. Transfer--In $0.0 $0.0 $0.0Total $883.8 $1,326.2 $1,191.1Change Net Assets $45.7 ($93.5) $93.6Ending Net Assets $767.8 $674.3 $767.9

$ in thousands

Page 20: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

20

McGregorMcGregor Actual Projected BudgetCategory FY 2006 FY 2007 FY 2008Beg Net Assets $230.6 $34.1 $14.5RevenueNon-Operating $0.0 $0.0 $0.0Operating $153.9 $135.1 $136.3Total Revenues $153.9 $135.1 $136.3ExpendituresOperating $250.4 $124.7 $132.9Transfers Out $100.0 $30.0 $0.0Temp. Transfer--In $0.0 $0.0 $0.0Total $350.4 $154.7 $132.9Change Net Assets ($196.5) ($19.6) $3.4Ending Net Assets $34.1 $14.5 $17.9

$ in thousands

Page 21: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

21

Mort Harris Recreation CenterMort Harris Actual Projected BudgetCategory FY 2006 FY 2007 FY 2008Beg Net Assets $159.3 $133.0 $178.9RevenueNon-Operating $0.0 $0.0 $0.0Operating $1,434.3 $1,579.7 $2,053.7Total Revenues $1,434.3 $1,579.7 $2,053.7ExpendituresOperating $1,260.6 $1,348.8 $1,565.3Transfers Out $200.0 $185.0 $320.0Temp. Transfer--In $0.0 $0.0 $0.0Total $1,460.6 $1,533.8 $1,885.3Change Net Assets ($26.3) $45.9 $168.4Ending Net Assets $133.0 $178.9 $347.3

$ in thousands

Page 22: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

22

ParkingParking Actual Projected BudgetCategory FY 2006 FY 2007 FY 2008Beg Net Assets $1,589.7 $1,064.1 $815.3RevenueNon-Operating $0.0 $0.0 $0.0Operating $6,891.4 $7,757.3 $7,717.3Total Revenues $6,891.4 $7,757.3 $7,717.3ExpendituresOperating $3,795.4 $4,716.7 $4,936.0Transfers Out $3,621.6 $3,289.4 $2,763.5Temp. Transfer--In $0.0 $0.0 $0.0Total $7,417.0 $8,006.1 $7,699.5Change Net Assets ($525.6) ($248.8) $17.8Ending Net Assets $1,064.1 $815.3 $833.1

$ in thousands

Page 23: FY 2008 Auxiliary Budgets Summary - Board of Governors · 4 Auxiliary Operations Overview Auxiliary Summary Actual Projected Budget Category FY 2006 FY 2007 FY 2008 Beg Net Assets

23

Student CenterStudent Center Actual Projected BudgetCategory FY 2006 FY 2007 FY 2008Beg Net Assets $100.0 $80.6 $149.7RevenueNon-Operating $0.0 $0.0 $0.0Operating $2,348.4 $2,883.4 $2,830.9Total Revenues $2,348.4 $2,883.4 $2,830.9ExpendituresOperating $2,192.6 $2,639.0 $2,653.6Transfers Out $175.2 $175.3 $325.3Temp. Transfer--In $0.0 $0.0 $0.0Total $2,367.8 $2,814.3 $2,978.9Change Net Assets ($19.4) $69.1 ($148.0)Ending Net Assets $80.6 $149.7 $1.7

$ in thousands