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Agenda

Budget Planning Overview Graduate & professional Student Assembly February 20, 2012 Vice President Elmira Mangum. Agenda. Major Budget Policy Issues and Outlook Tuition and Financial Aid Endowed, Contract, Professional Endowment Payout Salary Improvement Plan

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Agenda

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  1. Budget Planning OverviewGraduate & professional Student AssemblyFebruary 20, 2012Vice President Elmira Mangum

  2. Agenda • Major Budget Policy Issues and Outlook • Tuition and Financial Aid • Endowed, Contract, Professional • Endowment Payout • Salary Improvement Plan • Elimination of Structural Deficit • Reduce Administrative Costs (Streamlining Program) • No new costs without funding or identified income sources • Budget Model Change

  3. Budgeted Revenues for FY 2012

  4. Budgeted Operating Expenditures for FY 2012

  5. Five Year Total Capital Plan - $1.649B FY 2012 Expenditures $ 373.9 M • Projects Approved and Underway 977.2 M • Major Projects/ New Construction 157.6 M • New York State 66.0 M • Maintenance, Infrastructure, Unit 397.1 M • Weill Cornell Medical Projects 51.0 M This Five Year Plan represents a 11% reduction in activity from FY 2011 plan. 24% reduction in activity from FY 2010 plan 37% reduction in activity from FY 2009 plan

  6. OUTLOOK

  7. Undergraduate Peer Tuition and Mandatory Fees

  8. Graduate Tuition Graduate Research - No Change Graduate School - Professional Degree 4.5% Market Based Changes set by Individual Colleges 3% Graduate Stipend Increase was approved with the campus Salary Improvement Program

  9. Graduate School Tuition History

  10. Endowment Payout Policy • Goal: Steady, predictable payout increase for operating budgets smoothed for budget and planning purposes with sensitivity to changes in market value.

  11. The Budget Model Change • Transparent, simple, data informed, and advance academic excellence • Manage the cost pressures of the current environment • Improve service, quality and reduce costs • Improving processes to respond to: • Deep cuts in state appropriations • Decreasing parental and student ability to pay tuition bills • Severely constrained revenues • Declines in fundraising, investment income, and research grants • Increasing operational costs, deferred maintenance, and other capital

  12. Policy Building Committee Team Members Leadership • Set direction • Provide guidance • Test alternatives • Make decisions Deans (A&S, CALS, CIS, ENG. & DVM) Provost, Kent Fuchs VP P&B, Elmira Mangum Budget Model Steering Advisors • Advise and represent stakeholders • Champion redesign efforts • Address policy issues • Propose alternatives Senior Vice Provost, Research Vice Provost, Undergrad. Ed. Vice Provost, Dean of Graduate School • Recommend specific solutions, policies and procedures • Determine budget impact of recommendations Vice President, Facilities University Faculty Senate - FPC Senior Vice Provost, Land Grant

  13. Next Steps & Implementation • Undergraduate Tuition and Financial Aid Pooled and distributed • Space Use – Space Study launched, guidelines developed • Cost Allocation Methodology • University Support Pool – to fund central costs • Facilities and Administrative Reimbursements – under development • New York State Appropriation – under development • Graduate Tuition – no change • Cornell Abroad – moved to GP funding & CAM • Endowed Professorships – centrally held – moved to Dean’s office

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