1 / 17

Campus Conversation

Campus Conversation. February 7, 2014 8:30-9:15 Charter Hall 201. Today’s Agenda. 8:30-9:15 Budget and Enrollment 9:30-11:45 Breakout into Work Groups 12:00-1:00 Noon, lunch on your own 1:00-2:00 Work Groups Reconvene to Prioritize Ideas

renate
Download Presentation

Campus Conversation

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. Campus Conversation February 7, 2014 8:30-9:15 Charter Hall 201

  2. Today’s Agenda • 8:30-9:15 Budget and Enrollment • 9:30-11:45 Breakout into Work Groups • 12:00-1:00 Noon, lunch on your own • 1:00-2:00 Work Groups Reconvene to Prioritize Ideas • 2:00-3:00 Entire Group Reconvenes for Reporting Out

  3. The Twin Cities metro area is growing faster than Greater Minnesota Twin Cities metro area Greater MN Source: MnSCU Office of Research and Planning

  4. The number of students of color will grow in Minnesota Projected % Minority Minnesota High School Graduates Source: Minnesota State Demographic Center

  5. The number of Minnesota’s high school graduates peaked in 2010 and will decline through 2017

  6. Increased reliance on tuition and rising student debt, which threatens access and affordability (MnSCU systemwide) Source: MnSCU Office of Institutional Research

  7. SMSU Revenue Trends Tuition waivers are included in tuition revenue Appropriation are at year end, include chargebacks

  8. Retention & Graduation History

  9. What Increasing Retention Means New Entering Freshmen 449 FY 2013 -49 Lost to date = 400 Currently Enrolled If we lose similar to -95 previous years (68%) =305 Result NEF Approximately $7,000 per year tuition: • If we retain 72% (18 Students) = $+126,000 • If we retain 75% (32 students) = $+224,000 • If we retain 77% (41 students) = $+287,000

  10. Fall Enrollment History- Heads

  11. Freshmen & Transfer Fall Enrollment History Heads

  12. Fiscal Year 2014 Enrollment Full Year Equivalents & Tuition Revenue • Short of Projection: • FYETuition Revenue Lost • Summer 33.2-$238,174 • Fall 53.5 -$364,003 • Spring 59.5 -$373,026 • Total 146.2 -$975,203 • Estimates are used for Spring College NowEstimates are used for uncollectible percentagesas of 1/22/2014

  13. FY14(2013-2014) Estimated Deficit • Estimated tuition shortfall of approximately $1 million • Had planned usage of $500,000 from fund balance • With estimates of expenditures through year end, Estimated use of fund balance would be $1.55 million Savings opportunities yet through year end: • Reduce refreshments, meals, and travel from operating budgets • Examine all expenses and reduce where able • Voluntary Leave Without Pay – documents will be available next week on Human Resources website • Charitable contributions through payroll deduction to a Budget Relief Fund

  14. FY15 (2014-2015) Estimated Deficit • Estimated enrollment decline • Tuition revenue declines • No carryover use • Estimated increase of expenditures • Estimated deficit of $3.2 million • Remember these are all estimates and will change with each new piece of information • a 1% increase in salary & fringes could be an additional $300,000

  15. T Drive “University Budget & Program Information” Subfolders: • Academic Program Analysis Indicators • Budget Context Documentation • FY12 Budget Documentation • FY13 Budget Documentation • FY14 Budget Documentation • Program Analysis System • Program Instructional Cost Study • Questions_Suggestions_Responses • Students have access to this information on the “M Drive” Available in labs (library, BA, CH, Academic Commons, and limited areas of Student Center)

  16. Leveraged Equipment Program Apply Now Match now through FY15, Leveraged Equipment Appropriation funds available July 1, 2015 Information On Web: www.smsu.edu Administration VP Finance and Administration or Advancement Office (linked) http://www.smsu.edu/administration/vpfinanceadmin/?id=9309

  17. Going Forward The decisions we make will be guided by a set of principles that support our three themes: • Educational Excellence and Distinctiveness • Student Learning and Success • Meaningful Partnerships and Engagement We will apply a five-part test to the options we consider: • Will this distinguish us from other institutions and help attract potential students? • Will this contribute to the success of our current students and increase retention? • Will this maintain the integrity and enhance the quality of our institution? • Will this generate additional revenue for investing in our future? • If this is something we must do, is this the best way to do it or should we look for other ways to accomplish our goals?

More Related