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FY15 Student Tuition ConsultationSFMC – February 26, 2014
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0%
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Up Front Summary
• Tuition Increase of $0 or 0% for FY15 approved by Legislature in 2013 session
• State budget has turned around and is now in surplus
• MnSCU making supplemental budget request to offset salary increases in FY14 and 15
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WSU Total Budget Composition – FY14
• General Fund $82M, 65%– (Tuition $57M, State Appropriation $25M)
• Residence Halls $20M, 15%• Laptop Program $7M, 6%• Auxiliary Enterprises $5.5M, 5%• Student Fees $4.5M, 4%• Student Union $2M, 2%• Miscellaneous $3M, 2%• Grants and Contracts $2M, 2%• TOTAL $125 Million
General Fund65%
Residence Hall15%
Laptop Program6%
Auxiliary En-terprises
4%
Student Fees4%
Student Union2%
Misc2%Grants
2%
Innovation Fund = $400,000 or about ½ of 1% of the Total University Budget
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General Fund Budget by Nature – FY14
• Employee Salaries 60%• Fringe Benefits 18%• Student Employment 2%• Equipment 2%• Operating (Supplies & Expenses) 14%• Repair and Replacement 1%• Fuel and Utilities 2%• Debt Service 1%
Employee Salaries60%
Fringe Benefits18%
Student Employment
2%
Equipment2%
Operating (Supplies and
Expenses)14%
Repair and Replacement
1% Fuel and Utilities2%
Debt Service1%
80% of the General Fund Budget is Invested in People
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FY91 FY92 FY93 FY94 FY95 FY96 FY97 FY98 FY99 FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY1325%
35%
45%
55%
65%
75%
34%
69%66%
31%
Tuition State Appropriation
Era of double digit tuition increases. FY03-12%, FY04-15%, FY05-15%
Era of inverted budget reductions. Support units took 2x their share, Academic
units took 1/2 their share.
Era of selective investment and development.
Era of shared responsibility. All units take a pro-
portional share of the reduc-tions. Tuition held to reason-
able levels.
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FY2014/15 Budget Planning Factors State of Minnesota
• State budget surplus for FY14/15 is $1.086 billion or $825 million– $246 million must be repaid to the K-12 school shifts
• Governor has not issued any supplemental budget recommendations– “It’s a bonding year”
• Next economic forecast is due out 1st week of March• MnSCU has asked for a $31 million supplemental appropriation
and a language change that would free up an additional $17 million from FY14 to pay for salary settlements
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FY2015 Budget Planning Factors - WSU
• FY15 Budget Scenario Calculator on Fiscal Affairs / Budget ToolKit page http://www.winona.edu/fiscalaffairs/budget_101.asp
• University is estimating a $1.5 million budget deficit for FY15• Offered BESI to all employees, currently reviewing options for replacements
• Increases in employee wages and health insurance continue to be the largest cost drivers at the University• 2.6% available vs. 3.9% awarded to certain unions created funding gap
• Uncertain enrollment for FY15 and beyond• FY13 8,497 FYE• FY14 8,307 FYE• FY15: Changing demographics makes future enrollment projections challenging
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Tuition Costs at Selected Institutions – FY14
MN State U - Mankato
Winona State University
Bemidji State University
UW - La Crosse UW - Madison U of M - Twin Cities
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$6,668 $6,866 $7,146$8,769
$9,930
$12,060
Annual Undergraduate Tuition – Full Time Student
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History – Tuition and Budget Reductions
• Budget Reductions• FY02 - $1.0M• FY04 - $1.2M • FY10 - $1.8M• FY12 - $2.5M
• Tuition Increases • FY03 – 12% • FY04 – 15% • FY05 – 15%• FY06 – 7%• FY07 – 9%• FY08 – 4%• FY09 – 5%• FY10 – 5% (with assistance from Federal stimulus of 2%)• FY11 – 5% (with assistance from Federal stimulus of 2%)• FY12 – 5%• FY13 – 3% (lowest increase of State U’s within MnSCU)• FY14 – 0%
FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY150%
5%
10%
15%
20%
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FY2015 WSU Tuition Proposal
• Tuition increase of 0%
MN Undergraduate
FY14Board Approved
FY15Amount of Increase
FY14 est. (Proposed)
Per Credit $227.00 $0 $227.00Banded
(Semester) $3,433.00 $0 $3,433.00
Banded (Annual) $6,866.00 $0 $6,866.00
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Resources
• Most current information on budget at• President’s page:• www.winona.edu/president/index.asp
• Fiscal Affairs page:• www.winona.edu/fiscalaffairs
• MnSCU Finance page:• www.finance.mnscu.edu
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Questions