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Spring 2012 Budget Update

Spring 2012 Budget Update. March/April 2012. Robert Cramer -Assistant Chancellor Cathy Riedl-Farrey - Director, Financial Services. Tuition Pooled Revenue. TSI Revenue. Summary of Items Funded. Budget Forecast Model Projected Closing Balances. Budget Management. Proposed Principles

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Spring 2012 Budget Update

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  1. Spring 2012 Budget Update March/April 2012 Robert Cramer -Assistant Chancellor Cathy Riedl-Farrey - Director, Financial Services

  2. Tuition Pooled Revenue

  3. TSI Revenue

  4. Summary of Items Funded

  5. Budget Forecast ModelProjected Closing Balances

  6. Budget Management • Proposed Principles • Decision making is made by division leaders (1&2) • Ability to use monies from different sources to meet needs (3&4); • Communications with budget office on decisions that change allocations of funds (5); • Plans for lapse obligations (6); • Prohibition on creating new positions without confirmation of ability to fund them (7); • Ability or inability to ask for additional funds during the year versus reallocating funds (8); • Ability to carry over funds from one year to the next (9).

  7. Auxiliary Rates – Segregated Fees

  8. Auxiliary Rates – Housing & Meal Plans **Rates are as submitted. Needs final Board of Regent Approval

  9. Final 2011-12 Budget (all funds)$157 M

  10. Final 2011-12 Budget (less aid)$110 M

  11. Summary of 2011-2013 Fund 102 Reductions

  12. Lapse Planning Options 3/19/12 handout

  13. Questions and Next Steps • Proceed with Strategic Planning • Implementation of budget lapses

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