Budget & Planning Update
Aug 2014
Office of Budget & Financial Planning
Presentation Title | May 4, 2009
o here and now (FY15)
o the future (FY16 -18)
“We are all interested in the future, for that is where you and I are going to spend
the rest of our
lives...”
Presentation Title | May 4, 2009
here and now
• 100% state support (not including collective bargaining)
• 100% funding for full-time, benefitted employees
(state, retained tuition, GOF)
• 100% lab & differential fee (based on revenue)
• 100% ESS, gift, and development accts
• 50% base operating (non-personnel)
Presentation Title | May 4, 2009
here and now
• VCs continue to meet
o requests for new funding
o base reductions to meet target
o recommendations to Chancellor mid-Sept
Presentation Title | May 4, 2009
here and now
Academic Affairs
Admin & Finance
Enrollment Mgmt
Student Affairs
GRPA
Athletics
University Advancement
Chancellors Office
Total all
Presentation Title | May 4, 2009
FY15
Base Budget
159,253,173
37,539,255
9,199,687
12,109,643
3,349,444
5,132,551
4,286,891
3,131,467
234,002,111
Request
Amount
3,985,765
1,497,208
369,543
1,002,330
1,186,700
597,000
425,959
9,064,505
here and now
Presentation Title | May 4, 2009
the future
($ in millions)
Revenue
Growth
FY14
FY15
$346.1 $373.6
-
Presentation Title | May 4, 2009
$27.6
FY16
FY17
FY18
$397.0
$420.4
$440.7
$23.4
$23.3
$20.3
the future
($ in millions)
Expense
Growth
FY14
FY15
$352.6 $381.6
-
Presentation Title | May 4, 2009
$29.0
FY16
FY17
FY18
$407.0
$433.9
$451.3
$25.4
$26.9
$17.4
the future
($ in millions)
FY14
FY15
FY16
FY17
FY18
Gap
-$6.5
-$8.0
-$9.9
-$13.5
-$10.6
Target
-$6.5
-$7.0
-$5.8
-$ 3.0
$ 0.2
Presentation Title | May 4, 2009
how do we get there
- UMass Boston will have a balanced budget by FY18
- System Office requires an operational plan,
including measurable outcomes and benchmarks to
monitor performance
- Annual approved budget will reflect all funds and
resources
- Spending within executive areas cannot exceed
annual budget authorization
Presentation Title | May 4, 2009
how do we get there
- Current budget for full-time benefitted positions
presumes turnover and vacancy savings
- Priority use of reserves is
- fund the operating deficit
- complete the capital master plan (ISC, GAB1, GAB2, UCRR)
- Subsidies for the research enterprise remain at or below
current levels
- Reallocate existing resources to fund high priority
staffing and services
Presentation Title | May 4, 2009
Use of reserves (cumulative)
FY14
FY15
FY16
FY17
FY18
Bldgs
$0
$5.6
$18.6
$21.0
$21.0
Deficit
$6.5
$13.5
$19.3
$22.3
$22.1
Unrestricted net assets (FY13)
Presentation Title | May 4, 2009
$91.1 million
Current year expense
Current yr revenue
$373.6 million
+
Prior yr reserves
7.0 million
=
Current yr expense $380.6 million
Presentation Title | May 4, 2009
Trends in Higher Education
Governance
o federal regulations
o Board member due diligence
o focus on metrics (like student outcomes)
Long-term viability
Revenue
•
Federal, state grants and contracts
•
state funding (and allocation of UMass pool)
•
fund raising
Expense
•
net revenue
•
moderate cost increases (perception of cost vs benefit)
Demographics
o enrollment (decline of traditional-aged students)
Technology
o teaching and learning paradigm
o internal processes and productivity
Presentation Title | May 4, 2009
Next steps
Reframe the conversations
Craft your solutions to support
the new UMass Boston
Presentation Title | May 4, 2009