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Tennessee Board of Regents Financial Overview January 19, 2010

Presentation to the Association of Government Accountants’ Winter Seminar. Tennessee Board of Regents Financial Overview January 19, 2010. TBR Financial Basics How Have Tennessee Higher Education Finances Changed In Last Decade Current Fiscal Challenges  Key Issues. Outline.

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Tennessee Board of Regents Financial Overview January 19, 2010

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  1. Presentation to the Association of Government Accountants’ Winter Seminar Tennessee Board of RegentsFinancial OverviewJanuary 19, 2010

  2. TBR Financial Basics • How Have Tennessee Higher Education Finances Changed In Last Decade • Current Fiscal Challenges •  Key Issues Outline

  3. TBR Revenue FY 2009-10 (millions)

  4. TBR Revenues: 2 Year View

  5. FY 2009-10 Expenditures (By Function, Millions)

  6. Expenses by Function: 2 Year View

  7. FY 2009-10 Expenditures (By Object, Millions)

  8. Expenses by Object: 2 Year View

  9. How Have Tennessee Higher Education Finances Changed In The Last Decade

  10. Tennessee Higher Education Commission Annual Percent Change in State Appropriations

  11. Tuition and Fees Tennessee Higher Education Commission Median TN Family Income Growth, 2002-2007: 13% or $6,100.

  12. Tennessee Higher Education Commission Higher Education Revenues

  13. Tennessee Higher Education Commission Higher Education Revenues

  14. Shifting Revenue Streams Tennessee Higher Education Commission

  15. Shifting Revenue Streams Tennessee Higher Education Commission

  16. Shifting Revenue Streams Tennessee Higher Education Commission

  17. Total Student Support Tennessee Higher Education Commission

  18. Compound Annual Growth Rate: Adjusted TN Tax Collections, (1998-2007)

  19. Current Fiscal Challenges

  20. Overview of State Appropriations (millions)

  21. Overview of State Appropriations (millions)

  22. Overview of State Appropriations (millions)

  23. Use of ARRA Funds (millions)

  24. Summary of Funding Challenge (millions)

  25. Summary of Solution (millions)

  26. Budget Reduction Summary (millions)

  27. Key Challenges For Administrators

  28. If our State goal is to reach the U.S. average in educational attainment by 2025, then we must increase the number of college graduates by 3.5% annually Educational Attainment

  29. Economic Importance Of Educational Attainment

  30. Growing Occupations In Tennessee Pay More Than Twice That Of Declining Occupations None of the top 10 declining occupations require any post- secondary education. In contrast, eight of the top 10 fastest growing occupations require some post- secondary education.

  31. Trends In Higher Education Funding

  32. Tuition & Fees Per FTE As % Of Peer Institutions

  33. Need to create a more educated populous • Declining levels of state financial support • Increased levels of tuition & fees needed to - • Partially offset lost state funds • Fund cost of servicing increased enrollments • Fund inflationary costs Conclusions

  34. State’s Future Prosperity Depends on an Educated Populous Current low educational attainment levels represent a threat to Tennessee’s future economic vitality Need for higher enrollments combined with increased levels of degree and certificate completions are the cure Must Be Accomplished In the Face Of - - Stagnant or Decreasing State Support Limitations on Ability of Students to Finance Education Need for Increased Educational Productivity Doing more with the same (or less) Future Challenge

  35. Questions

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