1 / 8

FY2011-2012 and FY2012-2013 Budget All University Meeting

FY2011-2012 and FY2012-2013 Budget All University Meeting. April 28, 2011. Key Unknowns. When will budget variables be set enough to finalize the budget? From December Meeting: December Economic Forecast released December 2 January 2011 Governor's Budget released

jayme-buckley
Download Presentation

FY2011-2012 and FY2012-2013 Budget All University Meeting

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. FY2011-2012 and FY2012-2013 Budget All University Meeting April 28, 2011

  2. Key Unknowns When will budget variables be set enough to finalize the budget? From December Meeting: • December Economic Forecast released December 2 • January 2011 Governor's Budget released • February 2011 Revised State Economic ForecastStill Unknown • March to May Legislative Budgets Set – now in Conference Committee • Governor Approves or Vetoes Budget • Board of Trustees sets Tuition and Fee Rates – Potentially Early June

  3. Fiscal Years11-12 and 12-13 Revenue Assumptions December Assumptions: • 5% Tuition Increase each year • 1% Overall Enrollment Increase • Next Biennium, MN State Deficit of $6.2 Billion Changes to December Assumptions: • Enrollment Steady, no increase • MN State Deficit of $5.028 Billion

  4. Fiscal Years11-12 and 12-13 Expense Assumptions • Inflation built into some expenses such as utilities, insurance, etc., those items that must be funded. • Moderate salary inflation built in. • Increases for insurance rate adjustments. • Reserve remains at same $ amount. Approximately 3.8% rather than the 5 to 7% per procedure.

  5. FY12 & FY13 MnSCU Appropriation

  6. SMSU Appropriation

  7. SMSU Budget Balances SMSU Budget Variables SMSU 1% base allocation change ~= $132,000 Tuition Rate 1% change ~= $150,000 Enrollment change 10 FYE ~= $ 60,000 Compensation Inflation 1% change ~= $260,000

  8. President Danahar’s Final All University Meeting

More Related