DRAFT
New Jersey Institute of Technology
FY2010 Proposed Budget
As of 7/5/2009
Submitted to Audit and Finance Committee, Board of Trustees
DRAFT New Jersey Institute of Technology
FY2010 Budget Overview
¾ $3.0 million in Federal (one-time) stimulus funds, restoring FY10 Governor’s
proposed appropriation reduction and resulting in an increase of $752K above
the adjusted FY09 appropriation
¾ Enrollment increase resulting in $6.1 million of additional tuition & fee revenue
¾ $3.2 million in additional tuition & fee revenue generated from a 3% academic
year tuition and required fee increase
¾ 17% increase in student awards consistent with Strategic Priority-Be nationally
recognized for attracting high achieving students
¾ Implement an FY10 faculty recruitment plan (result of Faculty Separation
Incentive Plan; reallocation; new program enrollment demand) that includes 23
faculty hires, including start-up packages that total $2.2 million
¾ No State funding of FY10 salary program (3.5% ATB delayed to 1/1/11; 1.75%
merit 7/1/09)
Draft New Jersey Institute of Technology
FY2010 Budget Overview (cont.)
¾ Includes $2.7 million in State-mandated personnel expenditure
reductions
¾ Residence hall rate increase of 3.0%
¾ Projected 6% increase ($535K) in utilities
¾ Additional $3.0 million to support facility projects for a total of
$6.0 million
¾ 5% continued steady growth in restricted grants and contracts
FY10-FY12 Projected Salary Increase Obligation
Based on FY10 Appropriation Language
Fiscal Year
Period
July 1
ATB
1‐Jan
Merit
FY10
July 1, 2009‐
June 30, 2010
0.00%
1.75%
FY11*
July 1, 2010‐
June 30, 2011
3.50%
1.75%
FY12**
July 1, 2011‐
June 30, 2012
1.75%
1.75%
* Includes half of FY10 delayed ATB
** Includes remaining half of FY10 delayed ATB; does not include ATB adjustment for new ATB
Annualized Merit
Total
1.75%
1.75%
7.00%
3.50%
New Jersey Institute of Technology
FY2010 Budget Development
Scorecard @ 7/5/09
($000's)
Group:
1)
FY09 Mid‐Year Adjusted Budget
FY2010 Adjustments
State Appropriation
State Salary Program
Subtotal Appropriation
Revenue Budget
$206,630
Personnel Budget
$130,813
Non Personnel Budget
$75,817
Total Expense Budget
$206,630
Net Change
$0
$752
$0
$752
$752
$0
$752
$0
$0
$0
$0
$0
2)
Subtotal Enrollment Change
$6,138
$0
$0
$0
$6,138
3)
Subtotal Tuition & Required Fee Rate Change
$3,248
$0
$0
$0
$3,248
4)
Subtotal Other Tuition
$123
$0
$0
$0
$123
5)
Subtotal FY08 Carryforward to FY09 Recurring
($4,898)
$0
$0
$0
($4,898)
6)
Residence Halls
FY2009 Year End Fund Balance Carryforward
Per Occurance Fees ‐ Changes to Base
Auxiliaries
EMBA Program
Unrestricted Giving
Architecture Exam
Indirect Cost Recovery
Investment Income
CPE & Research Business Centers ‐ Revenue U
Subtotal Other Revenue Sources
$384
TBD
($93)
$100
($300)
$400
($27)
$378
($700)
($635)
($493)
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$384
$0
($93)
$100
($300)
$400
($27)
$378
($700)
($635)
($493)
6)
$0
Revenue Budget
7)
FY10 Salary Program
8)
8)
FY10 Faculty Commitments ‐ Salary
FY10 New Faculty Not Current Committed ‐ Salary
FY10 Faculty Vacancies
Instructional Reserve
FY09 One‐Time Supplemental Adjuncts
CPE & Research Business Centers ‐ Personnel U
Salary Turnover
Hourly Students
Students ‐ Redsitribution of Start Up & Operating Accounts to OTP Budgets
Hourly / Temporary Staff
FY09 Sabbatical Reversal
FY10 Sabbatical Savings
Subtotal Other Salary Adjustments
9)
State Mandated Personnel Costs
10)
Subtotal FY08 Carryforward to FY09 One‐Time
$0
Personnel Budget
Non Personnel Budget
Net Change
$1,535
$1,535
($1,535)
$1,488
$252
($1,274)
$600
($400)
$95
($400)
($102)
($450)
($67)
$278
($125)
($105)
$1,488
$252
($1,274)
$600
($400)
$95
($400)
($102)
($450)
($67)
$278
($125)
($105)
($1,488)
($252)
$1,274
($600)
$400
($95)
$400
$102
$450
$67
($278)
$125
$105
($2,700)
$2,700
($2,445)
$2,445
$0
($2,700)
$0
Total Expense Budget
$0
($2,445)
Revenue Budget
11)
11)
Reclass FY09 FSIP Start ‐ Up Budget to Salary
FY10 Start ‐ Up Budget
FY10 Faculty Commitments ‐ Start Up
FY10 New Faculty Not Current Committed ‐ Start Up
FY09 One‐Time Supplemental Adjuncts
Students ‐ Redsitribution of Start Up & Operating Accounts from Personnel Budgets
Student Awards
Student Awards ‐ UG Tuition Increase
Student Awards ‐ GR Tuition Increase
CPE & Research Business Centers ‐ Expense U
Facilities Projects
Big Bear Solar Observatory
EMBA Program
Transfers to the Foundation at NJIT
Learning Center
Utilities
Debt Service
University Advancement Campaign/Marketing
SOA New Programs
University Reserve
Subtotal General Non Personnel
12)
Supplemental Contingency Budget
Total Adjustments
Prior Year Allocated Balance
Total FY2010 Budget
Restricted Budget
TOTAL
$0
$4,870
$2,408
$213,908
$71,222
$285,130
Personnel Budget
$0
($1,270)
$129,543
Non Personnel Budget
Total Expense Budget
Net Change
($750)
($415)
$397
$67
$400
($750)
($415)
$397
$67
$400
$750
$415
($397)
($67)
($400)
$450
$2,279
$172
$107
($824)
$3,000
$31
($300)
$400
$25
$535
$230
$727
($190)
$407
$6,748
$450
$2,279
$172
$107
($824)
$3,000
$31
($300)
$400
$25
$535
$230
$727
($190)
$407
$6,748
($450)
($2,279)
($172)
($107)
$824
($3,000)
($31)
$300
($400)
($25)
($535)
($230)
($727)
$190
($407)
($6,748)
$1,837
$1,837
($1,837)
$6,140
$2,408
$84,365
$4,870
$2,408
213,908
$71,222
$285,130
$0
$0
Budget Development Model
Budget Projections FY2010, FY2011, and FY2012
(Based on Scorecard Scenario 3)
As of 7/8/09
($000's)
State Appropriation
State Appropriation
Salary Program
Stimulus $ (A)
Total Appropriation
Tuition & Required Fees
Total Tuition & Required Fees
Carryforward
Total Other Revenue Sources (Grants &
Contracts)
FY10
Proposed
Budget
42,125
3,009
45,134
114,101
(4,898)
211,500
Personnel
Salaries
Salary Program (D)
Other Salary Adjustments
State-Mandated Salary Reduction (1 Time) (E)
Total Fringe Benefits
Total Personnel
102,332
1,535
(105)
(2,700)
28,481
129,544
Total Expense
(3,009)
(3,009)
10,882
(2,445)
82,565
1,837
81,957
211,500
FY11
Proposed
Budget
42,125
42,125
FY12 U
From FY11
Budget
124,983
11,943
-
FY12
Proposed
Budget
42,125
42,125
136,926
1,837
57,163
Total Revenue
Non Personnel
FY08 One-Time Carryforward
General Non Personnel (F)
FY11 Reserve
Total Non Personnel
FY11 U
From FY10
Budget
54,102
9,710
221,210
54,102
11,943
233,153
9,084
103,762
6,384
28,481
138,628
3,347
110,146
3,347
28,481
141,975
3,205
85,161
3,406
88,568
3,205
85,161
3,406
88,568
12,289
223,789
6,753
230,542
2,610
6,384
2,700
3,347
Total Net
(0)
(2,579)
(2,579)
5,190
Cummulative Net
(0)
-
(2,579)
-
31
Draft New Jersey Institute of Technology
Review of Annual Operating Budget
FY2003 - FY2010
State
Request
Base
State
Appro.
% Fiscal
Fiscal Year
Year
Tuition/Fee
Shortfall Shortfall Revenue
Tuition/Fee
Annual
%
Revenue
% Increase Tuition
Increase
Tuition
Cap
FY03
55,896
49,621
(6,275)
-11.2%
67,596
5,218
9.7
-
FY04
52,367
48,690
(3,677)
-7.0%
72,777
5,181
8.5
9.0
FY05
51,526
50,112
(1,414)
-2.7%
74,462
1,685
8.0
8.0
FY06
53,131
51,512
(1,619)
-3.0%
80,024
5,562
7.0
8.0
FY07
56,564
47,132
(9,432)
-16.7%
83,605
3,581
7.0
8.0
FY08
50,209
49,097
(1,112)
-2.2%
95,038
11,433
7.0
-
FY09
53,238
43,958
(9,280)
-17.4%
106,336
11,298
8.2
-
-5.7%
114,967
8,631
3.0
3.0
(32,809)
Cumulative (FY03-FY09)
FY10
47,872
45,134
(2,738)
DRAFT New Jersey Institute of Technology
FY2010 Revenue Operating Budget
FY2008
Committed
INCOME DETAIL - UNRESTRICTED OPERATIONS
REGULAR TUITION
REGULAR FEES
OTHER TUITION
SUBTOTAL REGULAR TUITION
STATE APPROPRIATIONS:
STATE APPROPRIATION
SALARY PROGRAM
STATE SUPPORTED FRINGES
TOTAL STATE APPROPRIATIONS
OTHER SOURCES:
OTHER FEES & ASSESSMENTS
INVESTMENTS & UNRESTRICTED GIVING
AUXILIARIES
NON-RECURRING CARRYFORWARD SAVINGS
ALLOCATED BALANCES
UNRESTRICTED RESEARCH ACTIVITIES
SUBTOTAL OTHER SOURCES
TOTAL REVENUE - CURRENT OPERATIONS
RESTRICTED PROGRAMS (NET OF OPERATIONS)
TOTAL OPERATING INCOME BUDGET
FY2009
Projected
Commitments
FY2010
Proposed
Budget
81,285
11,361
2,854
95,499
89,860
13,884
2,592
106,336
98,252
15,182
1,533
114,967
48,490
607
22,020
71,117
42,685
1,273
23,791
67,748
45,134
24,136
69,270
2,116
3,008
12,210
2,133
2,302
12,454
1,885
1,600
12,744
2,752
11,121
31,208
197,824
64,439
262,263
1,300
11,267
29,457
203,541
67,830
271,371
2,408
11,034
29,671
213,908
71,222
285,130
DRAFT New Jersey Institute of Technology
FY2010 Expense Operating Budget
FY2008
ACADEMIC & PROGRAM AREA SALARIES
ACADEMIC & PROGRAM AREA FRINGE BENEFITS
TOTAL ACADEMIC AREA
SUPPORT AREA SALARIES
SUPPORT AREA FRINGE BENEFITS
TOTAL SUPPORT AREA
TOTAL PERSONNEL
Committed
77,073
20,495
97,569
19,666
5,230
24,896
122,464
FY2009
Projected
Commitments
80,222
22,377
102,599
20,257
5,650
25,907
128,506
FY2010
Proposed
Budget
81,000
22,741
103,741
19,426
5,742
25,168
128,909
NON-PERSONNEL
RESTRICTED USE BUDGETS:
UTILITIES
INSURANCE
LIBRARY COLLECTIONS
STUDENT AWARDS
REST. TRANS.,DEBT SVC. & OTHER
COST REC. & CHG. BACKS
SUBTOTAL RESTRICTED USE BUDGETS
8,613
2,013
1,159
15,957
20,788
(458)
48,072
9,731
1,615
1,119
17,403
19,525
(406)
48,987
10,311
2,086
1,084
20,279
21,553
(554)
54,759
GENERAL OPERATING BUDGETS:
EQUIPMENT
MATERIALS/SUPPLIES
TRAVEL/CONFERENCES
PROFESSIONAL SERVICES
FACILITY MAINTENANCE, REPAIRS, RENTALS & LEASES
COMPUTER HARDWARE, SOFTWARE, AND MAINTENANCE
GENERAL ADVERTISING
OTHER OPERATING EXPENSES
SUBTOTAL GENERAL OPERATING EXPENSES
2,698
2,542
2,654
5,563
4,245
1,170
888
4,348
24,107
3,137
2,642
2,527
6,238
4,246
1,178
1,001
3,905
24,874
3,346
2,631
2,517
6,213
4,229
1,173
997
3,889
24,995
PRIOR YEAR COMMITMENTS (ALLOCATED BALANCES)
TOTAL NON-PERSONNEL
UNIVERSITY RESERVE
FY11 RESERVE
TOTAL OPERATING EXPENSE BUDGET
RESTRICTED PROGRAMS (NET OF OPERATIONS)
TOTAL OPERATING EXPENSES
2,752
1,300
2,408
74,932
75,160
82,162
-
-
1,000
1,837
197,396
203,667
213,908
64,439
67,830
71,222
261,834
271,497
285,130
DRAFT New Jersey Institute of Technology
FY2010 Revenue Operating Budget
Revenue = $285,130
($000’s)
Restricted
Programs
71,222 25.0%
Other Revenue
Sources
29,671 10.4%
State
Appropriations
69,270 24.3%
Tuition and
Fees 114,967
40.3%
New Jersey Institute of Technology
FY2010 Expenses Operating Budget
Expenses = $285,130
General
Operating
Expenses 24,995
Allocated 8.8%
($000’s)
Academic Area
Personnel
103,741 36.4%
Balances 2,408
0.8%
Budget Reserves
2,837 1.0%
Restricted Use
Budgets 54,759
19.2%
Restricted
Programs 71,222
25.0%
Support Area
Personnel
25,168 8.8%
NEW JERSEY INSTITUTE OF TECH NOLOGY
PROPOSED TUITION & FEE SCH ED ULE 2009 - 2010
Attachment A
UND ERGRAD UATE
Less than 12 credit hours per semester
RESID ENT
$412
NON-RESID ENT
$879
5,408
10,280
412
879
7,100
772
10,084
1,064
412
772
879
1,064
12 to 19 credit hours per semester
Each credit hour over 19
G RAD UATE
Full-time
Part-time
SUMMER SESSION 2010
Undergraduate
Graduate
ON-LINE PROGRAM TUITION:
Graduate 100% Distance Learning
EXECUTIVE MANAG EMENT PROGRAM
Program cost includes tuition, fees and materials: $47,500
ROOM AND BOARD : Typical average academic year cost is $9,828
863
NEW JERSEY INSTITUTE OF TECH NOLOG Y
PROPOSED TUITION & FEE SCH ED ULE 2009 - 2010
FEES PER SEMESTER:
TO TAL
(A, B)
12 o r mo r e cr edits
Undergraduate
Graduate
Less than 12
Cr edits
PLUS
Per credit
Undergraduate
Graduate
Per Ter m
Winter/Summer
Sessions
RE GIS AC ADEMIC
TR ATIO N FAC ILITIE S
1020
1005
80
80
102
80
478
478
TE C HNO LO GY
S TU DENT S TU DE NT
ATHLE TIC S HEALTH
INFRAS E RVIC E S AC TIVITIE S
S TR U C TU R E
175
175
65
65
55
40
145
145
22
22
22
100
50
22
9
6
13
0
98
50
22
9
4
13
0
50
20
0
0
0
0
160
90
(A) - In addition, students will be charged $278 for legislated health insurance coverage, which will be refunded
if the student can provide proof of insurance. International students will pay $316.
(B) - In addition, there is a $125 per semester charge for international students.
FY10 Capital Projects
Priority Project Description
FY 2009 Studios Campbell and Weston Hall
1
Biology
2
3
Capital I mprov ement Projects - Phase I
4
Tennis Court Enclosure
5
Jim Wise Library - Work Space
6
Basketball Locker Rooms Renov ation
7
CAPE - Upper Lev el Renov ation
8
Fenster 2nd Floor Classrooms
9
Capital I mprov ement Projects - Phase I I
10
Hotel Supply Demo/Parking
11
CAPE - Low er Lev el Renov ation
12
Cypress Basement I DEA Factory
13
Admissions/I nt Students
14
Telecom Expansion
15
Eberhardt Kitchen
16
Cypress Basement Medical
Preliminary
Cost Estimate
$
780,000
$
250,000
$ 1,560,000
$ 2,060,000
$
30,000
$
300,000
$
270,000
$ 1,550,000
$ 1,440,000
$ 1,200,000
$
155,000
$
50,000
$
85,000
$
94,750
$
618,701
$
423,000
Total $ 10,866,451
External
Funding
$ 500,000
$ 300,000
$ 800,000
Net Preliminary
Cost Estimate
$
$
$
$
$
$
$
$
780,000
250,000
1,560,000
1,560,000
30,000
270,000
1,550,000
$ 1,440,000
$ 1,200,000
$
155,000
$
50,000
$
85,000
$
94,750
$
618,701
$
423,000
$ 10,066,451
Cumulative
Budget
$
$
$
$
$
$
$
$
780,000
1,030,000
2,590,000
4,150,000
4,180,000
4,180,000
4,450,000
6,000,000
$ 7,440,000
$ 8,640,000
$ 8,795,000
$ 8,845,000
$ 8,930,000
$ 9,024,750
$ 9,643,451
$ 10,066,451
$ 10,066,451