New Jersey Institute of Technology
FY2013 Operating and Capital Budgets
Approved by the Board of Trustees
July 12, 2012
New Jersey Institute of Technology
FY2013 Budget Highlights
Revenue Overview
Base appropriation of $37.7 million, as recommended by Governor
$4.5 million of additional tuition and required fee revenue based on
projected enrollments
$6.7 million in additional tuition and fee revenue (5.5% rate increase)
$0.3 million in additional residence hall revenue
$1.1 million in additional indirect cost recoveries
3% continued steady growth in restricted grants and contracts
New Jersey Institute of Technology
FY2013 Budget Highlights
Expense Overview
$14.06 million in strategic planning initiatives:
•
•
•
•
•
•
$3.98 Million - Strategic Hiring Plan - Instruction
$2.31 Million - Retention / Academic / Student Support
$0.20 Million - Institutional Support
$1.27 Million - Grant and Research Support
$2.08 Million - Physical Plant and Safety
$4.22 Million - University Wide
Establishes university reserve of $1.3 million, 0.5% of a $243.7 million
operating budget
$14.2 million supporting various campus-wide facility projects
3% continued steady growth in restricted grants and contracts
New Jersey Institute of Technology
Strategic Plan Category / Detail Changes
Strategic Plan Category / Detail:
1) Strategic Hiring Plan-Instruction:
Net Impact of FSIP Program
Net Change for Faculty Replacements
Net Change for University Lecturer Replacements
Staff Positions - Instruction Related
Other Programmatic Changes
Subtotal Strategic Hiring Plan-Instruction
2) Retention / Academic / Student Support:
Additional Enrollments - Scholarships
Staff Positions - Academic and Student Support
Student athletic insurance and team travel
Learning Community Initiative
Upgrade technology in the Ballroom, Atrium and rooms 112 & 213 Eberhardt
Warren Street Village - Start Up / Marketing
Commencement
Other Programmatic Changes
Residence Halls Students and RA Room Rate Increase
Student Personal Property Insurance Cost
Subtotal Retention / Academic / Student Support
3) Institutional Support - Staff Positions
Enrollment/
Tuition &
Fee
Supported
Changes
Other Than
Enrollment/
Tuition &
Fee
Supported
Changes
2,839
976
70
62
37
3,984
699
487
300
163
150
75
49
22
1,945
204
Total
Proposed
Expense
Changes
2,839
976
70
62
37
-
3,984
41
217
106
699
487
300
163
150
75
49
63
217
106
364
2,309
204
New Jersey Institute of Technology
Strategic Plan Category / Detail Changes Cont.
Strategic Plan Category / Detail:
4) Grant and Research Support:
Establish $300K Reserve for Bad Debt
NJTPA Salary Cost to University - Offset by Federal Funds
Research Business Centers / EDC
Staff Positions - Grant Research Support
Intellectual Property
Subtotal Grant and Research Support
5) Physical Plant and Safety:
Additional Transfer to Plant Projects
Staff Positions - Physical Plant and Safety
On-going remediation and various maintenance projects
Vehicles (3 fleet, 2 police, recycling truck, pick-up truck for snow)
Subtotal Physical Plant and Safety
6) University-Wide:
Dedicated Programs
Increase University Budget Reserve to $1.3 Million
Reserve for bad debt - Tuition/Fees (establish $1.5 million reserve)
Eliminate prior year commitments
Fringe Benefit Changes
FY12 Prior Year Purchase Orders - Above FY11 Amount
Subtotal University-Wide
Total Strategic Initiatives
Enrollment/
Tuition &
Fee
Supported
Changes
Other Than
Enrollment/
Tuition &
Fee
Supported
Changes
Total
Proposed
Expense
Changes
748
154
145
62
156
748
154
145
62
1,109
1,265
156
156
1,262
394
326
95
2,077
1,262
394
326
95
-
2,077
500
844
2,532
327
862
(840)
500
844
2,881
1,344
4,225
11,247
2,817
14,064
2,532
327
862
(840)
New Jersey Institute of Technology
FY2013 Revenue Operating Budget
($000's)
FY2011
Year-End
Commitments
FY2012
Projected
Commitments
102,401
15,214
2,008
3,593
123,216
110,215
16,539
2,469
3,842
133,065
120,588
17,947
2,429
3,348
144,312
39,191
26,905
66,096
37,696
28,700
66,396
37,696
29,200
66,896
500
500
0.0%
1.7%
0.8%
OTHER SOURCES:
INVESTMENTS & UNRESTRICTED GIVING
AUXILIARIES
NON-RECURRING CARRYFORWARD SAVINGS
ALLOCATED BALANCES - PO's
UNRESTRICTED RESEARCH ACTIVITIES
SUBTOTAL OTHER SOURCES
TOTAL REVENUE - CURRENT OPERATIONS
1,838
15,357
3,575
2,320
10,682
33,772
223,084
959
15,824
2,771
10,612
30,166
229,627
1,000
16,147
3,615
11,721
32,483
243,691
41
323
844
1,109
2,317
14,064
4.3%
2.0%
0.0%
30.5%
10.5%
7.7%
6.1%
RESTRICTED PROGRAMS (NET OF OPERATIONS)
TOTAL OPERATING INCOME
106,207
329,291
112,000
341,627
115,360
359,051
3,360
17,424
3.0%
5.1%
INCOME DETAIL - UNRESTRICTED OPERATIONS
REGULAR TUITION
REGULAR FEES
OTHER TUITION
OTHER FEES & ASSESSMENTS
SUBTOTAL TUITION / FEES / ASSESSMENTS
STATE APPROPRIATIONS:
STATE APPROPRIATION
STATE SUPPORTED FRINGES
TOTAL STATE APPROPRIATIONS
FY2013
Proposed
Budget
FY2013 $
From FY12
Commitments
10,373
1,408
(40)
(494)
11,247
FY2013 %
From FY12
Commitments
9.4%
8.5%
-1.6%
-12.9%
8.5%
New Jersey Institute of Technology
FY2013 Expense Operating Budget
($000's)
ACADEMIC & PROGRAM AREA SALARIES
ACADEMIC & PROGRAM AREA FRINGE BENEFITS
TOTAL ACADEMIC AREA
SUPPORT AREA SALARIES
SUPPORT AREA FRINGE BENEFITS
TOTAL SUPPORT AREA
TOTAL PERSONNEL
NON-PERSONNEL
RESTRICTED USE BUDGETS:
UTILITIES
INSURANCE
LIBRARY COLLECTIONS
STUDENT AWARDS
REST. TRANS.,DEBT SVC. & OTHER
COST REC. & CHG. BACKS
SUBTOTAL RESTRICTED USE BUDGETS
GENERAL OPERATING BUDGETS:
EQUIPMENT
MATERIALS/SUPPLIES
TRAVEL/CONFERENCES
PROFESSIONAL SERVICES
FACILITY MAINTENANCE, REPAIRS, RENTALS & LEASES
COMPUTER HARDWARE, SOFTWARE, AND MAINTENANCE
BRANDING / ADVERTISING
OTHER OPERATING EXPENSES
SUBTOTAL GENERAL OPERATING EXPENSES
UNIVERSITY RESERVE
NON-RECURRING CARRYFORWARD SAVINGS
YEAR END ENCUMBRANCES-INCLUDED ABOVE
TOTAL NON-PERSONNEL
FY2011
Year-End
Commitments
81,217
21,931
103,148
23,448
6,858
30,306
133,454
FY2012
Projected
Commitments
83,991
23,937
107,928
24,496
6,763
31,259
139,187
FY2013
Proposed
Budget
89,414
25,930
115,344
26,552
7,070
33,622
148,966
FY2013 $
From FY12
Commitments
5,423
1,993
7,416
2,056
307
2,363
9,779
FY2013 % From FY12
Commitments
6.5%
8.3%
6.9%
8.4%
4.5%
7.6%
7.0%
7,919
1,877
1,227
19,741
34,453
(401)
7,362
1,908
1,332
20,892
32,365
(640)
8,179
2,214
1,332
22,174
28,490
(848)
817
306
1,282
(3,875)
(208)
11.1%
16.0%
0.0%
6.1%
-12.0%
32.5%
64,816
63,219
61,541
(1,678)
-2.7%
2,758
2,476
2,122
4,721
5,560
1,421
1,349
4,407
24,814
2,307
2,598
2,418
4,910
5,347
1,995
1,282
6,364
27,221
4,137
2,699
2,545
4,947
5,763
2,330
1,485
7,951
31,857
1,830
101
127
37
416
335
203
1,587
4,636
79.3%
3.9%
5.3%
0.8%
7.8%
16.8%
15.8%
24.9%
17.0%
2,771
3,615
1,327
1,327
-
0.0%
0.0%
0.0%
3,615
89,630
90,440
94,725
4,285
4.7%
TOTAL OPERATING EXPENSES
223,084
229,627
243,691
14,064
6.1%
RESTRICTED PROGRAMS (NET OF OPERATIONS)
106,207
112,000
115,360
3,360
3.0%
TOTAL OPERATING EXPENSES
329,291
341,627
359,051
17,424
5.1%
New Jersey Institute of Technology
Revenue = $359,051
($000’s)
New Jersey Institute of Technology
Expense = $359,051
($000’s)
New Jersey Institute of Technology
Capital Budget Review
Physical Plant Capital Projects
FY13-FY20
Annual Maintenance Projects
Classroom Upgrades
Departmental Moves/Upgrades
Campus W ide Furniture
Residence Hall Summer Work
Painting
Sidewalks & Roadways
Parking Facilities
Fire Alarm Upgrades
Lighting Upgrades
Elevator Rehabs
Bathroom Upgrades
Roof Replacement
HVAC Upgrades
Additional Projects
Total Maintenance Projects
Major Projects
Tiernan HVAC
Reclad Guttenberg
Faculty HVAC
York HVAC
CKB-Bio-Labs
Career Services
CKB-Infrastructure
CKB-Windows
Architecture Studios
CKB-Services
CKB-Abatement
CKB-Classrooms
CKB-Master Planning
FY13
FY14
FY15
FY16
FY17
FY18
FY19
FY20
$
100,000
$
100,000
$
100,000
$
250,000
$
200,000
$
75,000
$
200,000
$
75,000
$
75,000
$
200,000
$
150,000
$
600,000
$ 1,000,000
$ 1,262,000
$ 4,387,000
$
100,000
$
100,000
$
100,000
$
250,000
$
200,000
$
75,000
$
200,000
$
75,000
$
75,000
$
200,000
$
150,000
$
600,000
$ 1,000,000
$ 1,262,000
$ 4,387,000
$
100,000
$
100,000
$
100,000
$
250,000
$
200,000
$
75,000
$
200,000
$
75,000
$
75,000
$
200,000
$
150,000
$
700,000
$ 1,500,000
$ 1,262,000
$ 4,987,000
$
100,000
$
100,000
$
100,000
$
300,000
$
200,000
$
75,000
$
200,000
$
75,000
$
75,000
$
200,000
$
150,000
$
700,000
$ 1,500,000
$ 1,262,000
$ 5,037,000
$
100,000
$
100,000
$
100,000
$
350,000
$
200,000
$
75,000
$
200,000
$
75,000
$
75,000
$
200,000
$
150,000
$
700,000
$ 1,500,000
$ 1,262,000
$ 5,087,000
$
100,000
$
100,000
$
100,000
$
350,000
$
200,000
$
75,000
$
200,000
$
75,000
$
75,000
$
200,000
$
150,000
$
700,000
$ 1,500,000
$ 1,262,000
$ 5,087,000
$
100,000
$
100,000
$
100,000
$
350,000
$
200,000
$
75,000
$
200,000
$
75,000
$
75,000
$
200,000
$
150,000
$
700,000
$ 1,500,000
$ 1,262,000
$ 5,087,000
$
100,000
$
100,000
$
100,000
$
350,000
$
200,000
$
75,000
$
200,000
$
75,000
$
75,000
$
200,000
$
150,000
$
700,000
$ 1,500,000
$ 1,262,000
$ 5,087,000
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
800,000
800,000
800,000
2,450,000
1,600,000
600,000
1,600,000
600,000
600,000
1,600,000
1,200,000
5,400,000
11,000,000
10,096,000
39,146,000
$ 2,500,000
$ 2,700,000
$ 2,700,000
$ 1,000,000
$ 1,500,000
$
$
$
$
$
7,900,000
2,500,000
3,200,000
2,000,000
3,500,000
$
$
2,500,000
800,000
$
$
$
$
37,600,000
76,746,000
$
$
74,096,000
79,096,000
$
800,000
$
800,000
$
800,000
$ 1,200,000
$
$
800,000
800,000
$ 3,500,000
FY13-FY20 Total
$ 1,500,000
$ 1,000,000
$ 3,000,000
$ 1,200,000
$ 2,000,000
$ 2,500,000
$ 2,500,000
$
800,000
$ 2,500,000
Total Major Projects $ 9,800,000
$ 11,700,000
$ 2,300,000
$ 2,300,000
$ 2,000,000
$ 4,100,000
$ 2,700,000
$ 2,700,000
Total $ 14,187,000
$ 16,087,000
$ 7,287,000
$ 7,337,000
$ 7,087,000
$ 9,187,000
$ 7,787,000
$ 7,787,000
75,000 $ 1,475,000
(600,000) $
875,000
$ 1,475,000
$ 2,350,000
$ 1,500,000
Reserve
Cummulative Reserve
Funding Sources
Bond Fund
Annual Transfer From Operating Budget
Total
$
$
75,000
75,000
$ 5,000,000
$ 9,262,000
$ 14,262,000
$ (6,825,000) $ 1,975,000 $ 1,925,000 $ 2,175,000 $
$ (6,750,000) $ (4,775,000) $ (2,850,000) $ (675,000) $
$ 9,262,000
$ 9,262,000
$ 9,262,000
$ 9,262,000
$ 9,262,000
$ 9,262,000
$ 9,262,000
$ 9,262,000
$ 9,262,000
$ 9,262,000
$ 9,262,000
$ 9,262,000
$ 9,262,000
$ 9,262,000