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UW-Platteville Financial Overview October/November 2013

UW-Platteville Financial Overview October/November 2013. Robert Cramer - Vice Chancellor Cathy Riedl-Farrey - Director, Financial Services. Summary of Funding Sources UW-Platteville Financial Update 2012-13 Closing Balances (June 30, 2013) 2012-13 All Funds Budget Tuition and enrollment

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UW-Platteville Financial Overview October/November 2013

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  1. UW-Platteville Financial OverviewOctober/November 2013 Robert Cramer - Vice Chancellor Cathy Riedl-Farrey - Director, Financial Services

  2. Summary of Funding Sources • UW-Platteville Financial Update • 2012-13 Closing Balances (June 30, 2013) • 2012-13 All Funds Budget • Tuition and enrollment • Budget Forecast model • 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 [Funds 102, 104, 109, 110, 402, 403, 406] • Program Revenue (PR) – includes tuition, auxiliaries, and segregated fees, as revenues received for services or from users [Funds 123, 128, 131, 132, 136, 189] • NOTE: Segregated fees are charges assessed to students including textbook rental, health services, student center operations, athletics, intermural sports, parking, student activities (allocable), municipal services, children’s center and ID systems. • Federal Revenue (PR-F) – includes federal grants, financial aid, direct loans, as revenues from a federal agency [Funds 144 – 150] • Gifts and Grants – includes revenues from the Foundation, non federal grants [Funds 133, 134, 184, 233]

  4. UW-Platteville Financial Update

  5. FY2012-13 Closing Balances • All Funds Summary (Cash Basis) Beginning Cash $ 24,495,297 (July 1, 2012) Total Revenue $149,680,085 Total Expenses $145,363,000 Net Income $ 4,317,085 (Excluding direct student loan amounts) Closing Balance $ 28,812,382 (June 30, 2013)

  6. Select Fund Balances • Fund 102 $ 5,796,557 • (General operations, tuition revenue, base of $50 million) • Fund 123 $ 4,030,686 (Debt service, $6.5 M base) • Fund 128 $ 3,442,588 • (Dining, housing, parking, base of $31.6 million) • Fund 131 $12,660,368 (DLC, School of Ed Cost Recovery, TSI, base of $18.7 million) • Fund 136 $ 2,110,868 • (Similar to 128, HTCP, camps & conferences, base of $4.3 million)

  7. Carry Over Balances by College/Division * Includes budget lapse and university wide carryover items. **Academic Affairs & Student Affairs are now combined under Provost ***Excludes accounts that automatically carryover (i.e. Fund 128, 136, some 131)

  8. 2001-02 Budget Final 2001-2002 UW-Platteville Budget $73.6 Million Federal $5,454,833 7% State funding of 40%

  9. 2013-14 Budget Final 2013-2014 UW-Platteville Budget $184.5 Million (all funds) State Funding of 16% Final 2013-2014 UW-Platteville Budget $135.9 Million (excluding federal aid) State Funding of 21%

  10. Financial Forecast Assumptions • 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 0.0% increases in tuition annually for 2013-15 and 2% thereafter • Assumes flat enrollment at Fall 2013 levels except for TSI • Assumes TSI growth to 1510 in FY2014-15 and fluctuating from 1490 – 1510 through 2018-19 • Assumes TSI faculty & staff change maintaining the current faculty/staff to student ratio of TSI,13:1 & 25:1; Decrease of 14 positions and $1.1 million • Assumes base budget reduction for GPR of $1.7M; current plan of $3,000,000 base on-going reduction; $290,000 staff reduction of 6 positions • Assumes 1% pay plan for TSI expenditures for 14-15 forward; 2% thereafter. Assumes GPR pay plan funded by state so no cost factors included • Assumes TSI incentive grant will be for new students only starting in Fall 2014. No continuing student grants.

  11. Tuition Revenue Note – these figures exclude distance learning, study abroad, and school of education cost recovery students

  12. Enrollment

  13. Enrollment Projections

  14. Budget Forecast ModelProjected Closing Balances Current Scenario Above scenario assumes: $3M base on-going reduction; Additional $1.4M and approx. 20 positions are reduced due to lower enrollment projections in 14-15; Another $364,000 & 4 positions in 15-16 Board of Regent Thresholds – 10% and 15%

  15. Budget Reduction Plans

  16. Budget Reduction PlansContinued

  17. TSI Budget Detail

  18. 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

  19. Debt Service Detail

  20. Next Steps • Budget Reduction Plans • Implementation: $3 million • Start 2014-15 planning now with emphasis on base reductions • Revision of Budget Management Principles • Targeted 10% balance and timing

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