Welcome!! June 17, 2015 – Campus Forum

advertisement
Welcome!!
June 17, 2015 – Campus Forum
Budget Update
Current Year Outlook
•
•
•
FY15 ends June 30, 2015
Operating Deficits for last three years (FY12-14)
New Accounting Standard (GASB 68) will significantly impact Financial
Statements (non-cash)
General Fund
Projected Credit Hours of 513,000
SCH projection 2.5% below budget
Graduation Rates exceed projection model
Net Revenue impacted by lower than budgeted Investment Income
Auxiliary Funds & Capital
• Auxiliary Funds ($48M Budget)
•
•
Revenues short of budget, below Housing and Dining resident expectations
Capital ($12.6M Budget)
•
On track to budget
FY16 Budget Development
Financial Position
• Clear need to improve financial position (Accreditation and Credit Rating
Agencies)
• Generating operating surplus required to improve financial position (long-term)
Enrollment
• Market remains highly-competitive, little growth in aggregate
• Commitment to conservative assumption set for enrollment/SCH
Priorities/Reallocation
• Strategies to maintain/grow market share, and support priorities remain at
forefront
• University Budget Council (UBC) provided recommendations consistent with
this Budget
• Faculty Senate
FY16 General Fund Budget Assumptions
Student Credit Hours - 521,000
• 7500 above FY15 actual, 5000 below FY15 Budget
• New Students; 2800 FTIAC, 1800 Transfer, 1100 Graduate
Tuition and Fee rate increase of 7.8%
• Graduate tuition simplified
State funding flat
General Fund Revenue up $9.1M (3.0%)
General Fund Expenditures up $9.1M (3.0%)
Expenditure Increases
• Financial Aid $4.7M (11%)
• Services, Supplies, Materials ($2.1M)
•
Target Marketing, structural variances, and one-time items)
FY16 Budget as Approved by Board of Regents
Board of Regents adopted FY 16 Budgets
•
•
•
General Fund Operating
Auxiliary Funds
Capital (adopted March 17, 2015)
General Fund (millions)
Revenues
Tuition and Fees
State Appropriation
Other Revenue
Total GF Revenue
Expenditures
Personnel – Salaries and Benefits
Financial Aid
SS&M
Utilities/Debt Service/Asset Preservation
Other Expenses/Transfers
Total GF Expenditures
Surplus/(Deficit)
Amount
$229.2
72.7
9.8
$311.7
196.5
48.5
38.2
21.2
7.3
311.7
0.0
FY16 Auxiliary and Capital Budget Highlights
Auxiliary Funds
• Reflect rate increases for Apartments and Dining (5%) and Residence
Halls (4%) as approved at March Board of Regents meeting.
• Revenue Budget of $48.9m, including Housing $18.8M, Dining
$17.9M, Parking $4.5M and Other $7.7M
Capital Budget
• Approved Capital Budget of $8.9M
• Key areas of Investment (70% of Total):
• Academics (Rackham & Honors) $2.8M
• Housing (Wise)
$2.0M
• Safety/Security
$1.4M
3 year Capital projection (FY16-FY18) Totals $34M
Strategic Planning
Mission, Vision and Values
MISSION
EMU enriches lives in a supportive, intellectually dynamic
and diverse community. Our dedicated faculty balance
teaching and research to prepare students with relevant
skills and real world awareness. We are an institution of
opportunity where students learn in and beyond the
classroom to benefit the local and global communities.
VISION
Eastern Michigan University will be a premier public
university recognized for student-centered learning, high
quality academic programs and community impact.
Mission, Vision and Values
CORE VALUES
Excellence- We provide an exceptional environment to our faculty,
staff, and students. We improve our performance continuously and
strive to be the best in everything we do.
Respect- We care for our people, communities and the environment
and show respect for the dignity of the individual.
Inclusiveness- We create an environment that supports, represents,
embraces and engages members of diverse groups and identities.
Responsibility- We are accountable – individually and in teams – for
our behaviors, actions and results. We keep commitments.
Integrity- Integrity and transparency are critical to our institutional
effectiveness. We pursue the highest level of personal, intellectual,
academic, financial and operational integrity within the University
community.
Strategic Themes
1. Student Engagement and Success
2. High Performing Academic Programs and
Quality Research
3. Institutional Effectiveness
4. Service and Engagement
Strategic Plan:
Strategic Themes, Goals & Objectives
Themes
Goals
Objectives
Tasks
• 4 Strategic Themes
• 11 Goals
• 32 Objectives
• Mapping of tasks nearly complete;
Implementation underway
Recent Changes to
Objectives & Goals
Based on input from the campus community…
 Added a goal and objective to address
campus/community safety
 Added an additional objective for service &
engagement
Next Steps

Now: All divisions/departments have prepared
detailed task lists; implementation underway

Fall: Website will be updated with campus access to all
tasks: www.emich.edu/strategicplan/

6-12 months: Strategic Plan incorporated into the new
Simitive employee evaluation system

Ongoing: Regular campus updates via email, etc.
We value your input!

Budget presentation online:
http://www.emich.edu/busfin/budgetforums.php

Strategic Plan website:
www.emich.edu/strategicplan/

Strategic Plan comments are welcome:
[email protected]
Download