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Faculty Meeting

Recap and updates on ESF's operating plan, budget forecast, and federal appropriations. Details on expense reductions, revenue shortfalls, retirement incentives, and adjustments to address revenue reductions. Includes actions taken to mitigate financial challenges.

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Faculty Meeting

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  1. Faculty Meeting February 20, 2003 President’s Report

  2. Agenda • Update of ESF’s 2002-03 Operating Plan • FY 2003-04 Budget Forecast • ESF’s FY 2003 Federal Appropriations

  3. Recap of ESF’s 2002-03 Operating Plan Began fiscal year with $1,620,000 gap between anticipated revenue and expenses

  4. Recap of ESF’s 2002-03 Operating Plan Took variety of actions to reduce operating expenses, including: • Cutting budgets for supplies, equipment, library acquisitions, utilities, temporary appointments and overtime • Approving participation in Retirement Incentive Program • Holding net usage of Accessory Instruction to 6,000 credit hours

  5. Recap of ESF’s 2002-03 Operating Plan Total expense reductions resulting from campus actions: $865,000 Total shortfall $1,620,000 Expense reductions 865,000 Remainder to be covered by $755,000 reserves

  6. Update of 2002-03 Operating Plan In December 2002, SUNY campuses were asked to submit plans to address a mid-year reduction in State support. Estimate of reduction in revenue for ESF: $514,000

  7. Update of 2002-03 Operating Plan Plans to address $514,000 mid-year revenue reduction included: • Additional reductions in some operating budgets • Additional salary savings from retirements • Reducing planned Accessory Instruction usage to 5,400 credit hours • Additional use of “reserves” to close the gap

  8. Update of 2002-03 Operating Plan In mid-January 2003, SUNY’s mid-year reduction was finalized Impact on ESF – The additional reduction in revenue will be $210,000, not $514,000

  9. Update of 2002-03 Operating Plan • All additional expense reductions approved in December will still occur • Fewer “reserves” will have to be spent to cover 2002-03 operating expenses Plans to address revised mid-year revenue reduction:

  10. 2002 Retirement Incentive Resulted in 15 retirements: • Faculty – 3 • Management and professional staff – 6 • Classified support staff – 6

  11. 2002 Retirement Incentive • Although a small number of replacement positions have been approved, the majority of the positions vacated by retirements will be held open • Management plan has been developed to cover necessary work • Some temporary appointments will be made

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