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Operating Budget Education and General (E&G) E&G represents the primary mission of the university: Instruction, Research and Public Service. This would also include those functions that are necessary to support the mission. Resources provided for this purpose are generally referred to as part of the current operating funds and, along with Auxiliary funds, comprise the annual operating budget. Revenues supporting E&G primarily consist of Tuition and Fees and State Appropriations. Auxiliary An Auxiliary enterprise directly or indirectly provides a service to students, faculty or staff and charges a fee related to, but not necessarily equal to, the cost of services. Auxiliary enterprises are generally self-sufficient operations and include Athletics, Housing, Food Service, Bookstore, Student Health, Student Center, HPER, Farris Field, Radio Station, Post Office and Parking Facilities. 1
Cash Funds vs. State Treasury Funds • Cash funds are those dollars generated by the operation of the university. Examples include student tuition and fees, room and board revenue, gate receipts, rental of space, fines, interest earnings, etc. • State Treasury funds are those dollars funded through the State of Arkansas. These include Revenue Stabilization Act (RSA) and Educational Excellence. There are other State Treasury dollars funded on a one-time basis, such as the General Improvement Funds. • Cash Funds and State Treasury Funds are both public funds. • Expenditures from all categories are reported to the state and will soon be available on the UCA website. • Appropriation vs. Funding • Appropriation is the legislative authority to spend money up to a set amount. • Funding is based on a statewide formula and available revenue at the state level. UCA is currently funded at 72.4% of what the formula suggests. This is about mid-point for all four-year, public universities, but slightly above the average of 71.1%. 4
Annualized Full-Time Equivalents (FTE) This is the number used by the Arkansas Department of Higher Education (ADHE) to input enrollment data into the funding formula. Enrollment for the full academic year is used and is defined in the order of Summer 2, Fall, Spring and Summer I. Inter-sessions and off-schedule Student Semester Credit Hours (SSCH) are also captured during an academic year. Following state definitions, annualized FTE are computed by adding all the SSCH, dividing the undergraduate SSCH by 30 and the graduate SSCH by 24. Looking at FTE by semester vs. annualized does not generate comparable numbers due to the inclusion of summer SSCH. When FTEs are computed for the fall or spring semesters alone, undergraduate SSCH is divided by 15 and graduate SSCH by 12. These two different methods of looking at FTE are used in different ways. 5
Headcount vs. FTE I’m taking 3 hours this semester. Headcount is simply a count of how many students are enrolled in a given period of time, regardless of how many hours in which they are enrolled. FTE is the number of students who are enrolled in enough credit hours to be considered full-time students. For Undergraduate students, this would be a minimum of 15 hours. For Graduate students, this would be a minimum of 12 hours. In the example to the left, the headcount would be 3 and the FTE would be 1. I’m taking 6 hours this semester. I’m taking 6 hours as well. Undergraduate Students 6
STATE FUNDING PER ANNUALIZED FTE 2001-02 TO 2010-11 7
* Current year tuition & fee revenue is projected to surpass the budget. The base budget will continue to be the foundation for building the FY13 budget. 22
* Current year tuition & fee revenue is projected to surpass the budget. The base budget will continue to be the foundation for building the FY13 budget. 55
Chart of Other Funds – for Purposes Outside Annual Operating Budget 27
