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UW-Platteville Financial Overview October 2011

UW-Platteville Financial Overview October 2011. Robert Cramer -Assistant Chancellor Cathy Riedl-Farrey - Director, Financial Services. Summary of Funding Sources State Budget Update UW-Platteville Financial Update 2010-11 Closing Balances (June 30, 2011)

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UW-Platteville Financial Overview October 2011

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  1. UW-Platteville Financial OverviewOctober 2011 Robert Cramer -Assistant Chancellor Cathy Riedl-Farrey - Director, Financial Services

  2. Summary of Funding Sources • State Budget Update • UW-Platteville Financial Update • 2010-11 Closing Balances (June 30, 2011) • Summary of 2011-13 Budget Reductions • 2011-12 All Funds Budget • Financial Forecast Scenarios • TSI Detail • Debt Service Detail

  3. General Purpose Revenue (GPR) – includes general funding, specific purpose funding, and earmarked funding from the state, primarily from state sales and income taxes • Program Revenue (PR) – includes tuition, auxiliaries, and segregated fees, as revenues received for services or from users • Federal Revenue (PR-F) – includes federal grants, financial aid, direct loans, as revenues from a federal agency • Segregated Funds (SEG) – includes transportation fund and other separate state accounts, credited by law to a specific state fund • Gifts and Grants – includes revenues from the Foundation, non federal grants

  4. 2011-13 State BudgetAll Revenue Sources - $66.1 B http://www.legis.state.wi.us/lfb/LFBPublications_ButtonPages/2011-13_budget.htm

  5. Ten Largest General Fund Programs in 2011-13

  6. Structural Deficit Estimates by LFB $ Millions

  7. Key Points on 2011-13 Budget • Structural deficit is eliminated • Biennial Budget included lapse of $174.3 million in 2011-13 and 2013-15 • $65.8 million of the lapse is assigned to UWS • Estimated closing balance of budget was $9 million at end of 2012-13 (on revenue of $14.8 billion) when budget was signed • UWS receives 7% of the GPR budget and is assigned 38% of the GPR lapse

  8. UW-Platteville Financial Update

  9. FY2010-11 Closing Balances All Funds Summary (Cash Basis) • Beginning Cash $ 25,137,116 (7/01/2010 rev) • Total Revenue $123,435,463 • Total Expenses $124,736,260 • Net Income $ 1,300,798 • Excluding direct student loan amounts • Closing Balance $ 23,836,319 (6/30/2011)

  10. Select Fund Balances • Fund 102 $4,245,502 (General operations, tuition revenue, base of $48 million) • Fund 123 $3,976,226 (Debt service, $4 M base) • Fund 128 $2,384,352 (Dining, housing, parking, base of $25 million) • Fund 131 $10,280,339 (DLC, School of Ed Cost Recovery, TSI, base of $15 million) • Fund 136 $2,337,985 (Similar to 128, HTCP, camps & conferences, base of $3.7 million)

  11. 2010-11 Budget of $148.9 Million

  12. 2011-12 Budget of $160.4 million

  13. Summary of 2011-2013 Fund 102 Reductions

  14. Financial Forecast Scenarios • Revenue modeling to project available funds from the state, TSI, and tuition (traditional undergrads and grads) • Key variables are tuition, enrollment and state support • Assumes 5.5% increases in tuition annually in 2011-13 • Assumes flat enrollment at 2011-12 levels • Assumes flat general purpose revenue excluding lapse • Assumes lapses of $300 million in 2011-13 and 2013-15 statewide with allocation as proposed in 2011-13

  15. Scenarios Examined • Original Projections (Fall 2010 with non res decline) • Fall 2011 Baseline – updated for sixth week • Fall 2011 Baseline – updated for sixth week & recent allocation of budget lapses

  16. Enrollment Summary (FTE) Note – these figures exclude distance learning, study abroad, and school of education cost recovery students

  17. Original Projections

  18. Fall 2011 Baseline – prior to lapse

  19. Fall 2011 Baseline – after lapse

  20. Summary of Projected Closing Balances

  21. TSI Budget Detail Note: 34 positions were formerly GPR funded

  22. Unclassified FTE by division (all funds)

  23. Debt Service • UW-Platteville has two types of debt service on facilities • General Fund Borrowing is funded through state appropriations of general purpose revenue • Program Revenue Borrowing is funded through University revenues including TSI • Debt is issued centrally by the State • 20 year bonds are typical

  24. Debt Service Detail

  25. Questions and Next Steps • Proceed with Strategic Planning • Evaluate options to address lapses • Consult with UWS and others on options to mitigate • Consult with senates, deans, department chairs, and other on impacts and options

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