DRAFT
New Jersey Institute of Technology
FY2011 Proposed Budget
As of 7/7/2010
Submitted to Audit and Finance Committee, Board of Trustees
DRAFT New Jersey Institute of Technology
FY2011 Budget Overview
¾ Elimination of $
$3.0 million in FY10 one-time Federal stimulus funds
¾ FY11 Governor recommended appropriation of $37.7 million, $4.8 million less
than FY10 actual funding received
¾ Projected enrollment increase resulting in $2.3 million of additional tuition & fee
revenue
¾ $5.6
$5 6 million in additional tuition and fee revenue generated from a 4% academic
year tuition and required fee increase for in-state undergraduates, 6% for all
others
¾ $830k
$830 increase in student awards, consistent with strategic plan objectives
¾ No State funding of FY11 salary program costs of $5.3 million, including
annualization of FY10 partial year funded positions
Draft New Jersey Institute of Technology
FY2011 Budget Overview (cont.)
¾ $4.7
$4 7 million reduction to operating accounts
¾ $1.4 million increase (16%) in utilities, which is a combination of rate
increases and the addition of the Central King Building
¾ Additional $2.8 million to support facility projects, total budget of $8.8
million
¾ Added 230 beds to residence hall capacity with average room rate
increase of 3% and an average board rate increase of 4%
¾ 5% continued steady
y growth
g
in restricted g
grants and contracts
New Jersey Institute of Technology
Major Budget Changes from FY10 to FY11
($000's)
Description
FY2011
Revenue
Budget
U
FY2011
Expense
Budget
U
Net to Close/
(Widen) Budget
S l
Salary Program / Annualization
P
/A
li ti
‐
5 280
5,280
(5,280)
(5 280)
Fringe Benefits 4,135
3,323
812
Capital Projects
‐
4,308
(4,308)
VP Reductions ‐
(4,731)
4,731
S d
Student Awards
A
d
‐
CHEN Agreement
(464)
Miscellaneous Expense Changes
‐
State Appropriations /Federal Stimulus
(7,771)
Allocated Balances ‐ PY PO's
2,320
2,320
‐
Restricted Programs
3,552
3,552
‐
Student Enrollment 2,335
137
2,198
Tuition/Required Fees Rate Change 5,564
0
5,564
Auxiliaries
2,312
1,662
650
Use of Prior Year Balances
3,576
0
3,576
Major Changes
15,558
15,558
0
830
(464)
(659)
0
(830)
‐
659
(7,771)
New Jersey Institute of Technology
FY2011 Revenue Operating Budget
Revenue = $297,967
($000’s)
Other Revenue
Sources
36,996 12.4%
Restricted
Programs
74 596 25
74,596
25.0%
0%
State
Appropriations
66,113 22.2%
Tuition and
Fees 120,292
40.4%
New Jersey Institute of Technology
FY2011 Expenses Operating Budget
Expenses = $297,967
General
Operating
Expenses
26 290 8.8%
26,290
8 8%
Allocated
Balances - 0.0%
($000’s)
Academic Area
Personnel
108,725 36.5%
Budget Reserves
1,167 0.4%
Restricted Use
Budgets 58,777
19 7%
19.7%
Restricted
Programs
74 596 25
74,596
25.0%
0%
Support Area
Personnel
28,412 9.5%
DRAFT New Jersey Institute of Technology
**DRAFT** FY 2011Proposed Facilities Budget/ Cash Disbursements ($000's)
Resources:
Base Budget - Plant projects
FY11 Supplemental Budget
Gift Income
Plant Fund
Total Resources
FY2009
FY 2010
Approved Approved
2,956
Projected Disbursements:
E
Expanded
d d SOA studio
t di space F
Fall
ll 08
Tiernan, GITC and York Updates/Relocations
SOA Studios / Related Relocations
SOA Idea Factory
Classrooms Upgrades
Painting
Colton Computational Biology Lab
Tiernan Fume Hood Upgrade 2 labs
Bi l
Biology
L
Labs
b
New Class rooms 2nd Fenster
Naimoli Rec Center
Rehab - CAPE Upper Level
Jim Wise Library Work Space
Bathroom Fixtures and Plumbing Replacements
Phase 1, Central King Building (CKB)
Academic Departments
Food Services Update
BB Locker Room Rehab
Training Room/ Locker Room Upgrades
Replace kitchenettes - Oak Hall (1/2)
Faculty Hall EPA Compliance - Ductwork Replace Air Handler
Oak Hall - Upgrade Valves/Control System - New Chiller/Pumps Required
Roof Replacements
MEP Upgrades (Mechanical, Electrical, Plumbing)
Elevators Upgrade
Administrative Computing System
Cullimore Boiler Room/MEP Upgrades
Student Mall Boiler Replacement
Kupfrian Installation of New Boiler
Oak Hall - Replace Rooftop Heat Recovery Unit
Other Projects
Total Projected
j
Disbursements
Net
4,870
7,826
2,300
880
800
6,000
6,800
780
50
FY 2010
Released
800
2,550
3,350
FY2011
Proposed
6,500
2,308
325
747
9,555
780
50
100
FY2012+
Pending
6,500
6,825
750
100
100
100
60
250
100
100
486
250
1,550
2,060
270
30
100
100
300
250
1,500
2,500
270
30
100
5,500
300
100
375
55
380
340
50
390
50
-
2,500
250
325
350
285
120
300
80
80
150
100
500
7,826
200
6,800
340
3,350
500
9,555
0
0
0
0
6,700
10,955
(4,130)
DRAFT New Jersey Institute of Technology
FY2011 Revenue Operating
g Budget
g
FY2009
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 - PO's
PO s
UNRESTRICTED RESEARCH ACTIVITIES
SUBTOTAL OTHER SOURCES
TOTAL REVENUE - CURRENT OPERATIONS
RESTRICTED PROGRAMS (NET OF OPERATIONS)
TOTAL OPERATING INCOME BUDGET
FY2010
Projected
Commitments
FY2011
Proposed
Budget
FY2011 $U
From FY10
Commitments
FY2011 %U
From FY10
Commitments
89,846
13,102
2,328
105,276
96,645
14,276
1,943
112,864
103,049
15,363
1,880
120,292
6,404
1,087
(63)
7,428
6.6%
7.6%
-3.2%
6.6%
42,685
42
685
1,273
24,519
68,477
42,481
42
481
26,335
68,816
37,696
37
696
28,417
66,113
(4,785)
(4
785)
2,082
(2,703)
-11.3%
11 3%
0.0%
7.9%
-3.9%
3,872
2,283
12,480
11,232
29,867
203,620
67,661
271,281
3,232
1,300
13,101
10,850
28,483
210,163
71,044
281,207
2,946
1,400
15,171
3,575
2 320
2,320
11,554
36,966
223,371
74,596
297,967
(286)
100
2,070
3,575
2 320
2,320
704
8,483
13,208
3,552
16,760
-8.8%
7.7%
15.8%
0.0%
0 0%
0.0%
6.5%
29.8%
6.3%
5.0%
6.0%
DRAFT New Jersey Institute of Technology
FY2011 Expense Operating Budget
FY2009
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
Committed
80,799
21,196
101,995
20,077
5 299
5,299
25,376
127,371
FY2010
Projected
Commitments
81,469
22,859
104,328
20,485
5 715
5,715
26,200
130,528
FY2011
Proposed
Budget
83,704
25,021
108,725
21,761
6 651
6,651
28,412
137,137
FY2011 $U
From FY10
Commitments
2,235
2,162
4,397
1,276
936
2,212
6,609
FY2011 % U
From FY10
Commitments
2.7%
9.5%
4.2%
6.2%
16 4%
16.4%
8.4%
5.1%
9,049
1,660
1,119
17,325
21,021
(407)
8,941
1,715
1,099
20,170
23,262
(523)
10,386
1,925
1,209
20,601
25,370
(514)
1,445
210
110
431
2,108
9
16.2%
12.2%
10.0%
2.1%
9.1%
-1.7%
SUBTOTAL RESTRICTED USE BUDGETS
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
49,767
54,664
58,977
4,313
7.9%
3,119
2,595
2,462
6,124
4,142
1,318
996
5,726
26,482
2,899
2,673
2,419
5,877
4,187
1,458
906
4,552
24,971
3,170
2,926
1,833
6,050
4,354
1,498
875
5,384
26,090
271
253
(586)
173
167
40
(31)
832
1,119
TOTAL NON-PERSONNEL
76,249
79,635
85,067
5,432
-
-
1,167
1,167
BUDGET RESERVES
TOTAL OPERATING EXPENSE BUDGET
RESTRICTED PROGRAMS (NET OF OPERATIONS)
TOTAL OPERATING EXPENSES
9.3%
9.5%
-24.2%
2.9%
4.0%
2.7%
-3.4%
18.3%
4.5%
6.8%
203,620
210,163
223,371
13,208
6.3%
67,661
71,044
74,596
3,552
5.0%
271,281
281,207
297,967
16,760
6.0%