Waterloo Residences 17/18 Budget Plan · •Granite countertops •Incentives to sign lease • Free month rent • Free big screen TV • Free internet. ... Surplus $ (1,201) $ 1,891

Waterloo Residences 17/18 Budget Plan

Glen WepplerDirector of Housing

Waterloo Residences 17/18 Budget

Purpose of this Presentation

• Share the financial forecast with residents to raise awareness, seek input, and answer questions.


Agenda

• Student Housing in the City• Value of Living in Residence• Financial Trends• Proposed Budget & Fees• New Residence Building (optional)


Context• 5,298 beds• 3rd largest Canadian campus housing op.• 80% of 1st year students live in residence• $34 million in annual revenue• 1.9 million square feet – 20% of UW space• ~100 full-time staff• ~250 student staff• V1 opened in 1965


Student Housing in the City


Big Changes in the City

Potential surplus of student beds:

1,196Waterloo Residences 17/18 Budget

Benefits offered off-campus• Fully-furnished units• Ensuite bathrooms• Granite countertops• Incentives to sign lease

• Free month rent• Free big screen TV• Free internet

Source: http://www.rez-one.ca/why-choose-rez-one/


Presenter

Presentation Notes

No community space No Dons, 24 hour access to staff, FT staff focused on student’s experience Wants: Price, proximity, privacy, cleanliness Needs: Personal interactions

Choice

Students in Waterloo have more choice in where to live than anywhere else in Canada.


Value of Living in Residence


Official Mission StatementOur mission is to foster meaningful growth and

learning opportunities by providing a safe, accessible, clean and supportive home where all students

succeed personally and academically.

***Summary Mission Statement

We want our student to learn where they live.


Contribution to Your EducationOur students

Student Development & Residence Life

Marketing & Admissions

Residence Facilities

Office of the Director of

Housing

Learn where you live

Facilitate learning & development

Fill the beds

Provide beds/space

Clarity, coordination

& culture


Different Focus for Other LandlordsOur students

Student Development & Residence Life

Marketing & Admissions

Residence Facilities

Office of the Director of

Housing

Learn where you live

Facilitate learning & development

Fill the beds

Provide beds/space

Clarity, coordination

& culture


Comparing ChoicesFee per term Discount OCH UW Residence Premium OCH

~ $ per term $2,000 $2,900 $3,400

12-mo lease required Most Most

Housekeeping X

Utilities included Some X Some

Close to class X

Internet included X

IT support service X

Public common space X X

Floor common areas X

Organized events X

Meals available X

Gym, study room, etc X X

24-hour security X X

Tutoring available X

200+ Job opportunities X


Learning Does NOT Happen by Chance• Dons / Residence Life Program• Living-Learning Program• Campus Partnerships

• Counseling• Medical Centre• Velocity • Coop Education & Career Action• And many more…


General Research Findings• Extracurricular activities participation• Perception of campus social climate• Satisfaction w PSE experience• Personal growth and development• Frequency of peer/faculty interactions• Persistence to graduation


2016 Canadian Residence Research


Retention Rate Differences

Table 1: Difference in retention rates of subgroups (of those who first registered for study in a term between academic years 2005/06 and 2010/11.


Financial Trends


Occupancy Trend by Term from 2006-2016

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016Fall 5113 5266 5086 5073 5122 5186 5228 5503 5250 5200Winter 4861 4999 5092 4958 4956 4978 4926 4910 5082 4702 4604Spring 1631 489 1925 1731 1528 1423 1442 1281 1164 1043 1094

0

1000

2000

3000

4000

5000

6000

Num

ber o

f res

iden

ts


Key Comparisons

05-06 06-07 07-08 08-09 09-10 10-11 11-12 12-13 13-14 14-15 15-16 16-17 17-18UW Res Fee % Change 5.0% 4.0% 4.0% 5.0% 3.0% 3.0% 3.0% 3.0% 2.5% 3.0% 3.5% 3.5% 2.5%Ontario Rent Increase Guideline 1.5% 2.1% 2.6% 1.4% 1.8% 2.1% 0.7% 3.1% 2.5% 0.8% 1.6% 2.0% 1.5%CPI Shelter Ontario % Change 3.2% 3.2% 1.7% 3.5% 0.2% 2.3% 1.5% 1.5% 1.5% 3.6% 2.3% -0.8%Ontario University Average Increase 3.9% 3.7% 3.3% 3.0%University College Average Increase 2.9% 2.6% 2.6%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

% C

hang

e

Expense & Revenue Trends Graph

-

5,000,000

10,000,000

15,000,000

20,000,000

25,000,000

30,000,000

35,000,000

40,000,000

2011/12 2012/13 2013/14 2014/15 2015/16

Dolla

rs ($

)

Revenue Fixed Expenses Variable Expenses


Proposed Budget & Fees


Realities & Principles

• 98% of revenue from residence fees• Designed to break-even financially. • No personal bonus structure related to surplus/deficit• Must be financially sustainable over full life-cycle of buildings

(including debt payments and capital renewal)• Not a profit-centre for the university• University contributes no funds to residence


Budget Breakdown by Percentage

Capital Debt Retirement

Capital Debt - Rentals & Leasing7.3%

Insurance0.5%

University Maintenance11.1%

Utilities10.0%

IST Transfer4.8%

Salaries & Benefits24.6%

Capital Projects8.7%

Computer & Network

Consulting & Contracted Services4.8%

Furniture & Equipment2.7% Printing &

Advertising

Repairs & Maintenance Supplies & Misc

6.0%

Telephon

Training &

Travel & Entertainment0.6%

Vehicle


10-Year Budget History & Forecast Graph

(5,000,000)

0

5,000,000

10,000,000

15,000,000

20,000,000

25,000,000

30,000,000

35,000,000

40,000,000

45,000,000

FY12/13 FY13/14 FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 FY 19/20 FY 20/21 FY 21/22

Dolla

rs ($

)

Fiscal Year

Revenue Total

Fixed Expenses Total

Variable Expenses Total

Net Income (loss)


Proposed Budget vs Approved & Actual BudgetsProposed Budget Actual Increase/ Increase/ 2017/18 2016/17 2015/16 Decrease Decrease(000's) (000's) (000's) (000's) %

IncomeResidence Fee income $ 35,513 $ 33,724 $ 32,804 $ 1,789 5.3%

Other income $ 536 $ 662 $ 1,110 $ (126) -19.0%Total income $ 36,049 $ 34,386 $ 33,914 $ 1,663 4.8%

ExpensesVariable

Salaries & Benefits $ 9,180 $ 8,536 $ 6,955 $ 644 7.5%Consulting & Contracted Services $ 1,801 $ 1,503 $ 1,132 $ 298 19.8%

Computer & Network $ 949 $ 1,049 $ 328 $ (100) -9.5%Capital Projects $ 3,223 $ 2,722 $ 1,846 $ 501 18.4%

Supplies & Misc. $ 2,245 $ 2,115 $ 1,748 $ 130 6.1%Furniture & Equipment $ 1,013 $ 566 $ 275 $ 447 79.0%Repair & Maintenance $ 530 $ 526 $ 251 $ 4 0.8%

IST $ 1,804 $ 1,771 $ 1,419 $ 33 1.9%Other $ 747 $ 723 $ 383 $ 24 3.3%

$ 21,493 $ 19,511 $ 14,337 $ 1,982 10.2%

FixedCapital Debt Retirement $ 7,725 $ 5,416 $ 5,340 $ 2,309 42.6%

Utilities $ 3,736 $ 3,620 $ 3,059 $ 116 3.2%University Maintenance $ 4,126 $ 3,778 $ 3,409 $ 348 9.2%

Insurance $ 170 $ 170 $ 151 $ - 0.0% $ 15,758 $ 12,984 $ 11,959 $ 2,774 21.4%

Total expenses $ 37,250 $ 32,495 $ 26,296 $ 4,755 14.6%

Surplus $ (1,201) $ 1,891 $ 7,618

Surplus ExplainedDescription Amount

2015/16 Surplus – Budget $ 1,900,000

2015/16 Surplus – Actual 7,600,000

Difference 5,700,000

Noteworthy Line Items

Utilities & Maintenance ~1,000,000

Salaries & Benefits ~1,400,000

Timing Differences ~2,000,000


Utilities & Maintenance Expense 12/13 – 15/16

2,700,000

2,800,000

2,900,000

3,000,000

3,100,000

3,200,000

3,300,000

3,400,000

3,500,000

3,600,000

12/13 13/14 14/15 15/16

Dolla

rs ($

)

Financial Year

University MaintenanceUtilities


Staff VacanciesPosition Vacancy USG/Hours Salary Midpoint

Acting Manager Cleaning Services (existing staff filled 2 roles) Full Year Vacancy USG 11 /35hrs 69,000 Supervisor (REV) 8 month vacancy USG 7 /40hrs 68,000

Resident Attendant (V1) Full Year Vacancy USG 2 /40hrs 46,000 Resident Attendant (V1) Full Year Vacancy USG 2 /40hrs 46,000 Resident Attendant (V1) 6 month vacancy USG 2 /40hrs 46,000

Resident Attendant (V1/REV) Full Year Vacancy USG 2 /40hrs 46,000 Housekeeper (V1) 7 month Vacancy USG 2 /35hrs 44,000 Housekeeper (V1) Full Year Vacancy USG 2 /35hrs 44,000

Housekeeper (REV) 5 month vacancy USG 2 /35hrs 44,000 Manager, Capital Renewal & Planning 10 month Vacancy USG 10 /35hrs 77,500

Supervisor, Maintenance Full Year Vacancy USG 7 /35hrs 59,000 Residence Operations Specialist 7 month Vacancy USG 5 /35hrs 49,000

Residence Facilities Coordinator 6 month Vacancy USG 3 /40hrs 49,000

Web & Communications Design Specialist 3 month Vacancy USG 8 /35hrs 60,000 Coordinator, Marketing & Communications 1 month vacancy USG 7 /35hrs 59,000

Off Campus Housing Specialist Full Year Vacancy USG 6 /35hrs 45,000 Marketing Assistant 4 month Vacancy Contract 36,000 Marketing Manager Full Year Vacancy USG 9 /35hrs 71,000

$ ~850,000


Timing DifferencesDescription Amount

To use in future years:

Capital Projects $ 877,000

Repairs & Maintenance 235,000

Furniture & Equipment 185,000

Computer & Network 348,000

Don Meal Plans (Fall 2015) 173,000

Budget tool 80,000

From last years

Grand Commons 58,000

CLV Flood reimbursement 91,000

Total $ 2,047,000


Response to the Surplus

1. Create Student Financial Advisory Group• Invest in physical environment now

2. Deficit budget planned for 17/183. Direct managers to adjust financial planning related to staff


Immediate Physical Upgrades

Residence Project Cost

MKV Community Centre Upgrades $ ~96,000

REV Gym Equipment & Space 97,000

V1 Vacuums + Community Ctr Games 16,000

Minota Desk Chairs Replaced 28,000

CLV Single Grads Mattresses Replaced 83,000

UWP A/V Equipment Upgrades 36,000

$ ~356,000


17/18 Capital Renewal PlanResidence Project Cost

CLVS Smoke Alarm Replacements $ 592,000

Community Ctr Site Drainage 123,000

CLVN Carpet, Blinds, Appliances 186,000

UWP Fire Alarm System 627,000

Exterior Stair/Railing Replacement 123,000

V1 Fire Alarm System 1,028,000

Link Space Heater Install + Glass 123,000

REV East Quad Mop Sink Installation 49,000

West Quad Lounge Improvements 246,820

MKV Fire Alarm System 123,410

$ 3,223,000Waterloo Residences 17/18 Budget

Residence Fees by Building, Room, Year & MonthResidence Room Type 16/17 Fee 17/18 Fee* 16/17 Month eq 17/18 Month eq*

V1 / REV Single $ 6,169 $ 6,324 $ 771 $ 791

Interconnecting 5,888 6,036 736 755

Double 5,534 5,673 692 710

MKV Single – 4b suite 7,364 7,549 921 944

Minota Hagey Single – 1 term 3,216 3,297 804 825

NRB Single -- 6,936 -- 867

Double -- 6,611 -- 827

UWP Double (Beck) 5,813 5,959 727 745

Single – 2b suite 6,654 6,822 832 853

Single – 3/4b 6,298 6,457 787 808

CLV Single – 1t, 2b town 2,940 3,014 735 754

Single – 2t, 4b town 5,883 6,031 735 754

2 bdrm, unfurn. -- -- 1,241 1,260


New Residence Building


New UW Rez Opening Summer 2017


Presenter

Presentation Notes

Building to maintain our FY guarantee What we build will not be built off-campus. Based on prioritites: Finance vs Student Success

Design Values

• Personal interactions• The 3rd place• Personalizing the space• Tried, tested & true infrastructure


Presenter

Presentation Notes

Wants vs needs

Location at UWP


Site Plan


Presenter

Presentation Notes

Tower Community centre Main entrance

Community centre


Presenter

Presentation Notes

Kitchen – Dining area – Desk/Office – Fitness room – Laundry room – Great Hall Traffic flow – Very public to very private

Floor Layout


Presenter

Presentation Notes

Traffic flow – very public to very private Access control Dons room Six common space – The Third Place

Room Layout


Presenter

Presentation Notes

Comparable in size to similar rooms elsewhere Privacy features – half wall Moveable furniture

NRB sustainability highlights• Shadow LEED® Silver• Interior bike room• ICF Exterior walls (R40 value)• Building envelope 2% better than energy code• Bedroom controlled heating/cooling• Occupancy sensors to control lighting


ThanksGlen Weppler, Director of [email protected] x32899


Documents

Waterloo Residences 17/18 Budget Plan · •Granite countertops •Incentives to sign lease • Free month rent • Free big screen TV • Free internet. ... Surplus $ (1,201) $ 1,891