Fall Meeting for Academic Deans & Department Chairs October 15, 2013 Kyle Clark Vice President for Finance and Administration Final Approval of 2013 – 2014 Budget Education & General $ 475,159,580 Auxiliaries 250,899,547 Sponsored Research 213,000,000 Financial Aid 150,426,185 Athletics 61,458,154 Education & General - College of Medicine 44,047,183 Student Activities 18,393,073 Florida State University School 12,404,459 Florida Medical Practice Plan 12,142,208 Technology Fund 10,994,704 Vending 441,552 Total $ 1,249,366,645 38.03% 20.08% 17.05% 12.04% 4.92% 3.53% 1.47% 0.99% 0.97% 0.88% 0.04% 100.00% Final Approval of 2013 – 2014 Budget Final Approval of 2013 – 2014 Direct Support Organizations Budgets Direct Support Organizations Proposed Budget 2013-14 FSU Alumni Association, Inc. FSU College of Business Student Investment Fund, Inc. FSU Financial Assistance, Inc. FSU Foundation, Inc. FSU International Programs Association, Inc. FSU Magnet Research and Development, Inc. FSU Real Estate Foundation, Inc. FSU Research Foundation, Inc. John and Mable Ringling Museum of Art, Inc. Seminole Boosters, Inc. $ 2,723,048 5,500 5,333,667 18,633,295 14,450,000 586,050 247,490 3,027,000 1,807,251 37,896,524 Florida Medical Practice Plan, Inc. $ 12,960,203 Total $ 97,670,028 Total Operating Budget Summary (Including DSO) Education & General Auxiliaries Sponsored Research Financial Aid Athletics Education & General - College of Medicine Student Activities Florida State University School Florida Medical Practice Plan Technology Fund Vending DSO Total $ 475,159,580 250,899,547 213,000,000 150,426,185 61,458,154 44,047,183 18,393,073 12,404,459 12,142,208 10,994,704 441,552 97,670,028 $ 1,347,036,673 35.27% 18.63% 15.81% 11.17% 4.56% 3.27% 1.37% 0.92% 0.90% 0.82% 0.03% 7.25% 100.00% Our Annual Operating Budget is larger than 69 Countries American Samoa Andorra Anguilla Antigua and Barbuda Aruba Barbados Belize Bhutan British Virgin Islands Burundi Cape Verde Cayman Islands Central African Republic Cook Islands Djibouti Dominica Eritrea Falkland Islands Faroe Islands Federated States of Micronesia Fiji French Polynesia Gambia Gibraltar Grenada Guam Guernsey Guinea Guinea Bissau Guyana Isle of Man Jersey Kiribati Liberia Liechtenstein Maldives Malawi Marshall Islands Mauritania Monaco Montserrat Nauru New Caledonia Niue Norfolk Island Northern Mariana Islands Palau Pitcairn Islands Saint Helena Saint Kitts and Nevis Saint Lucia Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Sao Tome and Principe Seychelles Sierra Leone Solomon Islands Suriname Togo Tokelau Tonga Turks and Caicos Islands Tuvalu U.S. Virgin Islands Vanuatu Vatican City Wallis and Futuna Operating Budget 2013 - 2014 Total Operating Budget (in billions) $ 3.21 1.73 1.45 Percentage of SUS Budget 30.98% 16.66% 14.00% Total Revenues / FTE* $ 71,009 53,012 30,677 Florida State University 1.25 12.05% 34,062 Florida International University Florida Atlantic University Florida Agricultural & Mechanical University University of West Florida University of North Florida Florida Gulf Coast University New College Florida Polytechnic University Total 0.92 0.69 0.35 0.26 0.26 0.19 0.04 0.02 10.36 8.84% 6.66% 3.34% 2.55% 2.53% 1.81% 0.35% 0.24% 100.00% 25,904 31,864 30,843 27,462 20,579 16,678 44,783 42,723 University of Florida University of South Florida University of Central Florida *Source: 2012-13 Common Data Set (Student FTE Fall 2012) $ Operating Budget 2013 – 2014 Peer Institutions Total Operating Budget (in billions) Ohio State University $ University of Indiana University of Missouri University of Maryland University of Georgia University of Kansas *Source: 2012-13 Common Data Set (Student FTE Fall 2012) 4.90 3.10 2.00 1.80 1.50 1.30 Total Revenues / FTE* $ 95,216 79,720 62,923 53,115 46,510 53,242 Preliminary Matrix of Operating Expenses by Natural Classification Functional Classification Preliminary FY13 Amount FY12 $ Change % Change Instruction 282,292,341 280,235,386 (2,056,955) -0.73% Research 136,732,619 149,015,315 12,282,696 8.98% Public Service 27,311,913 30,829,607 3,517,694 12.88% Academic Support 60,686,042 55,802,425 (4,883,617) -8.05% Student Services 33,493,781 38,349,523 4,855,742 14.50% Institutional Support Operation and Maintenance of Plant Scholarships and Fellowships 46,777,966 47,049,881 271,915 0.58% 57,378,330 55,573,942 (1,804,388) -3.14% 78,738,751 70,797,705 (7,941,046) -10.09% Depreciation 60,337,171 62,386,370 2,049,199 3.40% 151,435,693 157,906,229 6,470,536 4.27% 873,252 622,059 (251,193) -28.77% 936,057,859 948,568,442 12,510,583 1.34% Auxiliary Enterprises Loan Operations Total Operating Expenses Confidential Working Draft. Not for distribution FY 2013 numbers are preliminary and subject to change Components and Weights of USNWR formula Ranking Category Weight Undergraduate Academic Reputation 22.5% Student Selectivity 15% Faculty Resources for 2011-2012 Academic Year 20% Graduation and Retention Rates 20% Financial Resources 10% Alumni Giving Graduation Rate Performance 5% 7.5% Subfactors Subfractors Weight Peer Assessment Survey High School Counselor’s Ratings 66.7% 33.3% Acceptance Rate High School Class Standing Critical Reading/Math of SAT & Composite ACT 10.0% 40.0% 50.0% Faculty Compensation Percent of Faculty w/ Top Terminal Degree in Field Percent Fulltime Faculty Student/Faculty Ratio Class Size 1-9 Students Class Size 50+ Students 35.0% 15.0% 5.0% 5.0% 30.0% 10.0% Average Graduation Rate Average Freshman Retention Rate 80.0% 20.0% Financial Resources Per Student 100.0% Average Alumni Giving Rate 100.0% Graduation Rate Performance 100.0% SUS 5-Year Capital Improvement Plan Legislative Budget Request PECO-ELIGIBLE PROJECT REQUESTS Project Title Utilities/Infrastructure/Capital Renewal/Roofs CITF PROJECT REQUESTS Total Requested Total Requested 65,000,000 Student Union Expansion FAMU-FSU College of Engineering III - Joint Use 15,034,335 Barron Building Renovation EOAS Building (Phase I) 61,100,000 Total STEM Teaching Lab Building 35,100,000 Firestone/Winchester Building Remodeling 30,200,000 Library System Improvements (Phase I) 19,400,000 Land Acquisition 15,000,000 Academic Support Building 37,400,000 Dittmer Building Remodeling 48,000,000 Physics Building 59,500,000 REQUESTS FROM NON-STATE SOURCES, INCLUDING DEBT Kellogg Research Building Remodeling 16,900,000 Project Title Biology Unit I Building Remodeling 29,300,000 Athletic Facilities Bonds and Bond Refinancing $ 35,000,000 College of Business Building 29,750,000 Total $ 35,000,000 Eppes Building Remodeling 13,000,000 Total $ Project Title $ 474,684,335 $ 41,700,000 250,000 $ 41,950,000 REQUESTS FROM OTHER STATE SOURCES No Projects at this time Total Requested SUS Fixed Capital Outlay Projects Requiring BOG Approval Project Title GSF Description of Project Location Amount Funding Source Estimated Month of Board Approval Request New Residence Halls 187,000 Involves development of 2 new residence halls Main Campus to be constructed on Main Campus. The 2 Tallahassee halls are expected to provide a total of 862 new beds. $54,000,000 Bond Proceeds paid in return by Housing Revenues Nov-12 Athletic Facilities & Bond Refinancing 250,000 Seminole Boosters, Inc. & FSU Financial Assistance are requesting approval to issue Educational, including Athletic Facilities Improvement Subordinated Revenue bonds for Campbell Stadium Improvements & Tucker Center Improvements. These bonds will be issued through the State Division of Bond Finance. The Seminole Boosters, Inc. are seeking approval to refinance a portion of their Series 2003A bonds as well. $35,000,000 Seminole Boosters Revenue Jun-13 Main Campus Tallahassee Estimated Annual Amount for Operational & Maintenance Costs Amount Source $1,500,000 Housing (both Bldgs) Revenues $1,000,000 Boosters Revenue SUS Fixed Capital Outlay Projects that may Require Legislative Authorization Project Title GSF Description of Project Estimated Annual Amount for Operational & Maintenance Costs Amount Source Location Amount Funding Source Minor Projects 30,000 This project seeks funding for for FSU Facilities minor projects that are completed in the University's E&G Facilities for which General Revenue funds will be necessary for operation and maintenance. Main Campus Tallahassee $5,000,000 E&G Funds $210,000 General Revenue Building 469 Postal/ Receiving Services Main Campus Tallahassee $0 Auxiliary Funds $150,000 General Revenue 15,000 Building 469 houses Florida State's Postal and Receiving Services Department. 2014-2015 Legislative Budget Request A. Shared System Resources Initiatives 1. Excess Hours Funding Restoration 2. Need-Based Financial Aid due to Bright Futures changes 3. Major Gifts Matching Programs 5. Shared Resource Storage Facility* NonRecurring Funds Recurring Funds $ 884,971 $ 2,126,193 Total - $ 884,971 - 2,126,193 38,739,580 38,739,580 755,000 5,000,000 5,755,000 $ 3,766,164 $ 43,739,580 $ 47,505,744 - *FSU's share of this issue is $1,151,000 Subtotal B. Non-Recurring Issue 4. Florida Health Equity Funding $ 1,000,000 $ - $ 1,000,000 Subtotal $ 1,000,000 $ - $ 1,000,000 Grand Total $ 4,766,164 $ 43,739,580 $ 48,505,744 Selected Current Projects • • • • • • • • • • NACUBO Budget Presentation Enhanced Reporting Civic Center Energy Efficiency Golf Course Review Auxiliaries Affordable Care Act Enhanced Benchmark Debt Financing Parking Fall Meeting for Academic Deans & Department Chairs October 15, 2013 Kyle Clark Vice President for Finance and Administration