University Council
Announcements and Updates
Enrollment Update
New Freshmen Gross
Applications & Admits
Applications
% Change
Admits
% Change
FY2005
2,425
9.8%
1,593
9.8%
FY2006
2,548
5.1%
1,564
4.3%
FY2007
2,777
9.0%
All
All
numbers based on Nov. 30 of the respective years.
numbers
as of
Nov. 30
1,845
18.0%
Enrollment Update
New Freshmen Comparison of Applications to Enrolled
Budget Overview
Budget Overview
• State and Legislative Outlook
• Regents Request
• UNI Issues
State
and
Legislative
Outlook
Budget Overview
Iowa Gross Domestic Product
(GDP) In billions of dollars
Total GDP
FY 2005:
$114.3
U.S. Bureau of
Economic Analysis,
July 2006
Budget Overview
State General Fund Receipts Growth
& Percent Change FY00-08
3.6%
In billions of dollars
9.3%
2.9%
5.2%
6.2%
-0.4%
0.7%
-4.2%
4.5%
Iowa Legislature Long-term Rev enue and Oct. 2006 Quarterly Rev enue Estimate, Rev enue Estimating Conf erence
Budget Overview
Tobacco tax scenarios
• $0.50 per pack increase = $67.5 million
• $0.75 per pack increase = $101 million
• $1.00 per pack increase = $135 million
Current tax $0.36 per pack
Estimates from Iowa Legislative Fiscal Bureau
Budget Overview
Iowa’s State Expenditures
in Selected Categories
General Fund Appropriation
% change
from 04
% change
from 05
FY 2006*
% of total
general fund
budget
Economic Assistance
6.4%
8.7%
$49.0
0.9%
Medical Services
19.6%
31.6%
$613.0
11.4%
Children & Family Services
2.0%
8.4%
$108.0
2.0%
Correctional System
2.8%
7.3%
$292.0
5.4%
K-12
5.4%
5.2%
$2,151.0
40.0%
Higher Education
0.8%
3.6%
$827.0
15.4%
* In millions of dollars
Iowa Legislative Services Agency, Fiscal Services Division - 2005 Iowa Factbook
Budget Overview
Higher Education Funding
Percent Changes 2002-07
Iowa Legislative
Fiscal Division,
2006 Fiscal Facts
Regents Request
Budget Overview
Regents general fund request
for new funding FY07
– $40 million requested
– $11 million received
UNI’s portion of new funding request FY07
– $7.5 million requested
– $2 million received
Led to $4 million UNI deficit
Budget Overview
Regents general fund request FY08
Proposed state appropriations:
Regents
Inflationary
increase
Strategic
initiatives for
progress
Proposed total
appropriations
Replacement
of one-time
sources with
recurring
UNI
$30,100,000
$5,643,000
$14,000,000
$2,000,000
$44,100,000
$7,643,000
$19,900,000
$3,578,000
UNI Issues
Budget Overview
FY 2008 financial obligations
if nothing changes from FY07:
Personnel: $2,500,000
(tail, merit-step, fringe, health and dental)
Utilities: $600,000
Misc. mandatory: $150,000
(insurance, audit fees, etc.)
Total unavoidable/mandatory costs: $3,250,000*
* Does not include the $1,688,000 in non-recurring state funds and the $1,890,000 in surcharge funds that UNI received in FY07.
Budget Overview
Additional UNI budget factors
Revenue:
For every 1% change in tuition: $580,000
Expense:
For every 1% salary/personnel increase: $1,018,000
For every 1% operating increase: $160,000
Budget Overview
Budget Development Process:
– Differential vs across-the-board cuts
– Mandatory vs non-mandatory costs
– New facility costs
– Development of multi-year budgets
Budget Overview
Observations:
– Reliance on two revenue sources
• Tuition
• State appropriations
– Variances in budget support
• Academic programs
• Set-aside financial aid
– Budget constraints