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FY11/12 SUNY Oneonta State Purposes Budget Update

FY11/12 SUNY Oneonta State Purposes Budget Update. Budget Advisory Committee, September 16 th , 2011. FY11/12 Budget Context: NYS Budget. FY11/12 State Budget Deficit: $10.0 billion FY11/12 State Budget cuts & other actions addressed this deficit

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FY11/12 SUNY Oneonta State Purposes Budget Update

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  1. FY11/12 SUNY OneontaState PurposesBudget Update Budget Advisory Committee, September 16th, 2011

  2. FY11/12 Budget Context: NYS Budget • FY11/12 State Budget Deficit: $10.0 billion • FY11/12 State Budget cuts & other actions addressed this deficit • SUNY State-Ops’ net share of Executive State Budget cuts: $131.4 million • Current Out-year State Budget Deficit Projections (as of 6/30/11): • FY12/13: $2.4 billion • FY13/14: $2.8 billion • FY14/15: $4.6 billion BAC Budget Update

  3. Out-year Budget Context • SUNY 2020 may help limit the severity of cuts over the next 4 years • Included in the legislation: “The State would be required to appropriate… General Fund operating support in an amount no less than provided in the prior State Fiscal Year, except that if the Governor declares a fiscal emergency…” • Inflationary costs can still have an impact – lack of funding to cover inflation has the same effect as a funding cut • Funding reductions may still come from within SUNY: • changes in Resource Allocation Method • funding for SUNY Strategic Plan • State tax revenues for April – June 2011 were up relative to last year, with NYS near the top with a gain over last year of $2.3 billion (21%) BAC Budget Update

  4. FY11/12 Financial Plan v. Estimated Need • FY11/12 State Financial Plan Funding, including $300 tuition increase: • $12.8m State Support • $32.0m Tuition and other related revenue • ($0.4m) Tuition Credit funding • FY11/12 Projected Campus Need: • $45.0m Adjusted FY10/11 State Financial Plan • $0.4m salary inflation • FY11/12 Net Budget Gap • Net losses over the last four years • $44.4m • ($45.4m) • ($1.0m) • ($8.7m) BAC Budget Update

  5. Closing the Budget Gap: Campus Actions • ($1.0m) FY11/12 Budget Gap • $3.4m in savings & revenue actions • Salary & Other Savings, $2.5m, July 2010 - present • Savings from turnover, Early Retirements, Administrative Restructuring • Net reduction of approximately 19.5 vacant positions • Increased Tuition Revenue, $0.3m • FY10/11 enrollment growth • Residential v. Non-Residential (including International) Mix • Student Fee Revenue, $0.2m • enrollment growth, inflation-indexed fee increases (per SUNY guidelines) • Summer Session Technology Fee • Room Rate Increases, $0.4m BAC Budget Update

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  14. Looking ahead… • $2.4m savings banked for FY12/13 • We do not anticipate another ERI Program. • Utilize campus reserves to smooth over the bumps • Work with campus community to identify additional savings and/or revenue opportunities • Continue to invest in strategic priorities • Develop formal means to prioritize budget allocation that is strategic, transparent, and inclusive. BAC Budget Update

  15. Questions? BAC Budget Update

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