Upload
others
View
2
Download
0
Embed Size (px)
Citation preview
Presentation to Senate Office of the Vice-President (Finance and Administration)
May 30th, 2014
• Financial Overview
• News from Queen’s Park
• 2014-2015 Tuition Fees
• 2014-2020 - Planning Assumptions
• 2014-2015 – Allocations
• Questions
Presentation Outline
OVPFA Senate– May 30, 2014 #2
2013-2014 Investments
Operational Activity February 28, 2014 Operating $377m Pension $985m Ancillaries $ 83m Endowment $201m Research $ 60m Capital $ 40m Long Term Debt
Debt Financing for Buildings $135m
Financial Overview
OVPFA Senate– May 30, 2014 #3
Government Grants, 158
Tuition Fees, 213
Misc. Fees and Income, 14
Interest, 7
Source: Operating and Ancillary Budgets 2014-15 Finance/OIRP 2014-04-17
2014-15 Budgeted Operating Revenues
Total: $392 Million
OVPFA Senate– May 30, 2014 #4
Salaries, 213
Other Benefit Contributions, 30
Employer Pension Contributions, 31
Library Acquisitions, 5
Utilities, 9
Facility Maintenance & Renovations, 43
Student Aid, 29
Equipment, 5 Other, 27
Source: Operating and Ancillary Budgets 2014-15 Finance/OIRP 2014-04-17
Total: $392 Million
OVPFA Senate– May 30, 2014 #5
2014-15 Budgeted Operating Expenditures
Direction from November Board Meeting.
The Administration be directed to develop a balanced 2014-2015 operating budget that will permit progress towards institutional priorities.
OVPFA Senate– May 30, 2014 #6
Revenue:
• Enrolment Forecast:
• Undergraduate
• Graduate
• Tuition Fee Framework
• Government Funding
Expenditures
• Pension Plan
Budget Considerations
OVPFA Senate– May 30, 2014 #7
Applicants/Targets: 2014-2015
Carleton data as at April 16, 2014; OUAC data as at April 3, 2014
Carleton University First Year
Carleton Budget Targets – Full-time
2013 2014 % increase
First Year 6,158 6,100 -0.9%
Undergraduate 19,535 19,690 0.8%
Ontario University Application Centre Systems Data – First Year
2013 2014 % increase
Applicants* 138,226 139,084 0.6%
Confirmations 76,350 75,948 -0.5%
Confirmations (H.S. – OUAC 101s) 54,553 52,167 -4.4%
2013 2014 % increase
Applicants (1st and 2nd Choice) 11,457 11,055 -3.5%
Applicants 23,797 24,027 1.0%
Approved 17,244 17,678 2.5%
Confirmed 4,776 4,777 0.0%
OVPFA Senate– May 30, 2014 #8
Grant Eligible Graduate Enrolment
626 668
720
1816 1869
2000
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
Fa
ll T
erm
Fu
ll-t
ime
Eq
uiv
ale
nts
(F
TE
s)
Sources: OIRP enrolment data cubes; excludes eligible Dominican students (enrolments and limits) Master's limit includes 22 FTEs for the Indigenous Policy and Administration program starting in 2015 -16
Ministry funding
limits - after SMA 'process' (Winter 2014)
Master's
PhD
OVPFA Senate– May 30, 2014 #9
Current Pension Status
• Last valuation filed as of July 1, 2010. Plan value $688m with a wind-up deficiency of $168m and a going concern deficit of $48m.
• Preliminary results for July 1, 2013 valuation. Plan value of $850m with a wind-up deficiency of $159m and a going concern deficit of $87m.
OVPFA Senate– May 30, 2014 #10
Fall 2013 Pension Announcement
“Further relief for 3 years based on interest payments only on solvency deficit.”
OVPFA Senate– May 30, 2014 #11
Pension Cost to University
09-10 10-11 11-12 12-13 14-15
32
22
18
11
$M
11.5
20
21 21
18.3
* All numbers include payment to PBGF of approximately $1M
16-17 17-18 18-19
36
13-14
22 21
15-16
36 36
22 26
30
18.2
OVPFA Senate– May 30, 2014 #12
News From Queen’s Park
• Provincial election June 12, 2014
• 4-year tuition framework announced March 2013
• No more than 3% overall increase for domestic students
• 10% set-aside for student support
OVPFA Senate– May 30, 2014 #13
Government Grant Reductions
• “Efficiency Reduction” of $1,300,000 in each of 2013-2014 and 2014-2015 for a total of $2,600,000.
• “International Student Fee Reduction” of $643,000 in 2013-2014 and $600,000 in 2014-2015 for a total of $1,243,000
• Municipal tax grant reduction of $167,000 in 2013-2014 and $15,000 in 2014-2015 for a total of $182,000
OVPFA Senate– May 30, 2014 #14
2014-2020 Planning Assumptions
Revenue
• Retention at current rate.
• Domestic tuition fees will increase by 3% per year.
• First-year enrolment will decrease by 1% in 2014-2015 and then remain constant.
• Discounted government funding to university sector for undergraduate growth.
OVPFA Senate– May 30, 2014 #15
Expenditures
• Annual reduction in expenditures of $2.0m (suspended for 2014-2015 only);
• Extraordinary pension payments (started in 2010-2011);
• Annual base fund of $1m for mission critical initiatives;
• Enrolment-linked Budget Allocation model in place that provides 40% of net new income from undergraduate growth to Faculties.
OVPFA Senate– May 30, 2014 #16
2014-2020 Planning Assumptions
2014-2015 Funding Available
for New Resource Allocation
• Base Operating $ 1.3m
• Fiscal Operating $13.0m
• Fiscal Capital Projects $27.0m
OVPFA Senate– May 30, 2014 #17
Priorities identified in Strategic Integrated Plan:
“Sustainable Communities – Global Prosperity”
• Programs for Today and Tomorrow
• Research Excellence & Connectedness
• Productive and Engaged Students
• Organizational Excellence
Major Priorities for 2014-2015 Budget
OVPFA Senate– May 30, 2014 #18
New Faculty Hires
• Two new faculty for Bachelor Health Science
• Two new faculty Masters & Doctoral Information Technology
• Three new Engineering faculty positions Building Information Systems, Mechatronics, Sensors & Data Analytics
• Two new faculty in School of Public Policy and Administration to support Masters in Philanthropy and Non-Profit Leadership and Indigenous Policy and Administration
• Two new faculty for Bachelor of Global and International Studies
2014-2015 Major Funding Initiatives
OVPFA Senate– May 30, 2014 #19
Staff Hires • One new position in Paul Menton Centre
• One new position in Office of Quality Initiatives to support Carleton Leader
• One new position in Education Technology Center to support online course development
• One new position in Engineering to support Masters and Doctoral Information Technology Program
• Two new positions in Public Affairs to support Indigenous Policy & Administration program and Bachelor of Global and International Studies
• Two new positions in Research & International to support research in Science & Public Affairs
OVPFA Senate– May 30, 2014 #20
2014-2015 Major Funding Initiatives
Capital Projects
New Construction • Funding for new Health Science Building $22.5m
Deferred Maintenance Projects • Steacie Building Phase 4 $ 2.0m • Loeb Building $ 2.0m • Library $ 2.0m • Washroom Renewal $ .4m
Other Fiscal Funding • Student Support $ 1.9m • Advertising / Public Relations $ .7m • Information Systems Renewal $ 1.3m
OVPFA Senate– May 30, 2014 #21
2014-2015 Major Funding Initiatives
Major Financial Uncertainties
• Demographics – Participation Rates
• Special payments to Pension Plan
• Operating Grant Reduction
• Provincial Election
OVPFA Senate– May 30, 2014 #22
QUESTIONS?
OVPFA Senate– May 30, 2014 #23