Date post: | 25-Dec-2015 |
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Agenda
External Environment Financial Structure General Fund Budget Overview Budget Development Budget Committee Budget Approval
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External Environment
Legislative Issues
Capital Construction Update
Native American Tuition Waiver
Scrutiny in Higher Education
FY 2014-15 Higher Education Funding
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External Environment
Colorado Futures Center StudyFunding for Higher Education in Colorado
Long Term ModelingReduce reliance on state supportQuasi-privatization
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Financial Structure
Primary FundsGeneral Fund Auxiliary
PledgedHousing /Dining/Bookstore/Student Life Center / Health & Counseling Center
Non PledgedStudent Activities, Continuing Education, Athletics, Special Projects
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General Fund BudgetRevenue
Tuition - 76%Resident Students 23%Non Resident Students 24%Native American Students 29% (Reimbursed by the State the year after waived)
State Support - 19%College Opportunity FundFee for Service Contract
Other Income - 5%Interest income, charges for service (application fee,
matriculation fee), Technology Fee, Career Services Fee, Arts Fee, Course specific fees
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General Fund Budget
ExpendituresSalaries/Benefits 66%
ClassifiedFaculty/Exempt
Institutional Items 27%Scholarships, utilities, contracts, audit
Other Current Expenditures 7% (OCE) Departmental Operating
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Budget Development
Approach
IncrementalOnly considered the differences
Base budgets Assume all items start where they ended in the previous
year budget process
Reallocation occurs at the Vice President level
Permanent vs One time funding
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Budget Development
Budget Compilation Steps• Determine the change in revenue• Identify increases/decreases in
Institutional/Non-Discretionary categories – includes Classified staff salary increases
• Faculty/Exempt staff salary increases• Funding Requests
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Budget Committee
• First discusses salary increases and equity adjustments
• Prioritizes budget requests based upon effectiveness of proposal to accomplishing the Strategic Plan
• Makes recommendations to the President
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Budget Committee
Five Year planning model
Allows the committee to evaluate the impact of current year funding decisions on future budget years