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Planning and Budget Committee
March 28, 2014
1
Agenda
Operating Budget Status
Financial OutlookContinuing Challenges
2
Budget StatusFY14 Total Budget - $89.M
3
Operating Expenses - $67.7 M
Personnel Costs $48.7M 72%
Other $19.0 M 28%
▪ Utilities $2.2 M 11.6%▪ Deferred Maintenance $1.3 M
6.8%▪ Facilities $1.7 M 8.9%▪ Scholarships $3.2 M
16.8%▪ IT Related Expenses $1.3 M 6.8%▪ All Other (O&M Budgets) $9.3 M
48.9%
4
Current Financial Position
Auburn University at Montgomery Financial Position
For Period Ending February 2014 and Projections through September 2014
Budget 2013-
14 Year-to-DateProjected 2013-
14
TOTAL REVENUES$67,701,906.0
0 $34,124,999.53 $70,143,054.00
TOTAL PERSONNEL COSTS 48,796,741.00 21,165,545.13 49,724,709.00
TOTAL OPERATING EXPENDITURES 19,399,072.00 9,974,435.62 20,624,075.32
TOTAL OPERATING TRANSFERS 493,907.00 334,642.34 493,907.00
Excess Revenues Over Expenditures $0.00 $3,319,661.12 $288,176.68
5
Agenda
Operating Budget StatusFinancial OutlookStrategies
6
ContinuingAnnual Budget Commitments
StateAppropriations
32.6%
Tuition52.9%
Other12.3%
Reserves2.2%
Continuing Sources of Funding
One-TimeSource of Funding
Operating Revenues
Endowment, Investment, Indirect Cost, etc.
7
State Appropriations Amounts in Millions
FY08 FY09 FY10 FY11
Actual ActualProrat
ed ActualAUM $30.2 $27.1 $24.0 $22.1
FY12 FY13 FY14Decreas
e
Actual Actual ActualSince FY08
AUM $22.9 $21.9 $22.5 $7.7
8
Outlook State AppropriationsPotential growth in the Education Trust Fund will not translate to timely increases in state appropriations due to: Rolling Reserve ActPEEHIP pressuresK-12 funding
9
Outlook – Other Revenues
Tuition Affordability issues & Federal/public
scrutiny Net tuition
Investment returns – very limited
Gifts – typically restrictedCompetition for grants and contracts and limits on full recovery of costs
10
Outlook – Cost Pressures
Benefit cost increases – TRS, health insurance
Funding for strategic initiatives for year 2
Salary and wage improvement
11
Agenda
Operating Budget StatusFinancial OutlookStrategies
9 12
Continuing Budget StrategyFocus on strategic planEmphasis on maintaining salary competitiveness
Enhance quality and reputation
Reduce cost of operation where possible
Inclusive budget process Budget and Planning Committee Various meetings
13
AUM Budget Timeline
14
June 27Board of Trustees Sept 5reviews guidelines Board of Trustees
approves Budget
March April May June July Sept Oct
May 31 Unit Oct 1Freeze Date Budget Final Fiscal Year Employment Recommendations begins& Salary
Auburn University at Montgomery2014-15 Budget Timeline
Budget and Planning Committee Meets
July 11
to Senior Staff
Aug
Prep
FY 14 – 15 Needs
Operations & Maintenance: Increasing utilities budget – Up $1,000,000
Software licensing & maintenance increases - Need $557,750
Other Faculty Promotions - $86,460 (with
benefits) Strategic Initiatives Year 2 - $736,500
15
Future Meetings
May 2 Legislative update Tuition Increase
May 30June 20
16