Office of Finance
FY 2011-FY2015 Budget Comparison
And 5 Year Projection
1
FY 2011-FY 2015 Historical Look back
Fiscal Years 2011 through 2015 have been tumultuous in Higher Ed
• For UT that is defined by a decline in enrollment of 12%-$26M
• State Share of Instruction Subsidy decline of 13%-$17M
• Sales and Service Revenue decline of 16% (housing, meal plans, athletics)-$13M
• Rising healthcare/benefit costs-$3M
These factors had a Total Impact of $60M in reduced Income
Management has mitigated this impact and maintained a positive cash
flow by
•
•
•
•
•
Increasing tuition and fees
Reducing interest expense: refinancing debt
Reduction in FTE’s; salaries
Reducing Capital Expenditures
Non-Salary expenses
2
FY 2011-FY 2015 Budget Comparison
University of Toledo
Academic Unit
Comparison of FY2011 Budget vs FY2015 Budget
• $23.5M Decline in
Operating Revenue4.5%
•
(000's)
Net Tuition and Fees
SSI/Other Appropriations
Grants, Gifts and Contracts
Sales and Service
Other Revenue
Total Operating Revenue
FY2011
Budget
$216,464
$130,993
$94,614
$80,448
$4,530
$527,050
FY2012
Budget
$226,363
$119,437
$93,558
$86,944
$2,313
$528,615
FY2013
Budget
$230,084
$126,837
$95,006
$74,720
$3,041
$529,689
FY2014
Budget
$218,032
$111,678
$94,034
$69,595
$5,504
$498,843
FY 2015
Budget
$ Change % Change
$224,830
$8,366
3.9%
$113,678
-$17,316
-13.2%
$94,184
-$431
-0.5%
$67,747
-$12,701
-15.8%
$3,091
-$1,439
-31.8%
$503,530
-$23,520
-4.5%
•
•
•
Decline in
enrollment (offset
by tuition/fee
increases)
State Share of
Instruction/State
Appropriations
decline
Sales and Service
Revenue decline
Other Revenue
decline
Total Enrollment by Level
Enrollment
Undergraduate
Graduate
Total
FY2010 Fall
EnrollmentHeadcount
18,130
4,955
23,085
FY2015 Fall
EnrollmentHeadcount $ Change % Change
16,089
(2,041)
4,536
(419)
20,625
(2,460)
-11%
FY2010 Fall
EnrollmentFTE
16,136
3,866
19,601
FY2015 Fall
EnrollmentFTE
$ Change % Change
14,067
(2,069)
3,170
(696)
17,237
(2,364)
-12%
3
FY 2011-FY 2015 Budget Comparison
University of Toledo
Academic Unit
Comparison of FY2011 Budget vs FY2015 Budget
(000's)
Salaries
Benefits
Non-Salary Expense
Depreciation
Interest
Total Expenses
FY2011
Budget
$221,762
$87,159
$188,128
$30,000
$13,214
$540,263
FY2012
Budget
$217,190
$82,419
$193,005
$36,000
$11,884
$540,499
FY2013
Budget
$215,653
$86,466
$190,869
$36,700
$11,493
$541,182
• Increase in Expenditures of $943K-.2%
• Salaries decreased due to 7.7%
decrease in FTE’s
• Benefit costs increased (healthcare
and tuition waivers)
• Reduced Non-Salary (Operating
Expense)
• Depreciation expenditures
increased
FY2014
Budget
$213,777
$87,994
$185,757
$38,500
$11,314
$537,343
FY 2015
Budget
$216,198
$89,116
$184,353
$41,763
$9,777
$541,206
$ Change % Change
-$5,564
-2.5%
$1,957
2.2%
-$3,775
-2.0%
$11,763
39.2%
-$3,437
-26.0%
$943
0.2%
FY2010 Fall - FY2015 Fall Employee FTE's
FTE
FTE
% Change
Faculty, Admin, Other Staff
3,453
3,189
-7.7%
4
FY 2010-FY 2015 Budget Comparison
University of Toledo
Academic Unit
Comparison of FY2011 Budget vs FY2015 Budget
(000's)
Total Operating Revenue
Total Expenses
Margin
FY2011 Budget FY2012 Budget FY2013 Budget
$527,050
$528,615
$529,689
$540,263
$540,499
$541,182
FY2014
Budget
$498,843
$537,343
FY 2015
Budget
$503,530
$541,206
$ Change % Change
-$23,520
$943
-$13,214
-$11,884
-$11,493
-$38,500
-$37,676
-$24,462
Add Back Non-Cash Expense (Depreciation)
$30,000
Principal Payment on Debt
-$7,354
Transfer from UTMC
$8,793
State Captal Appropriations
$15,500
Capital Expenditures
-$30,000
Interest Income
$220
Unrealized Gains/(losses) on Investments
-$2,500
Budgeted Cash Flow
$1,445
$36,000
-$5,992
$10,000
$0
-$28,000
$220
$1,728
$2,072
$36,700
-$4,521
$10,000
$2,700
-$30,000
$220
$38,500
-$5,206
$11,615
$41,763
-$7,384
$14,400
$11,800
-$23,800
$2,400
$11,763
-$30
$5,607
-$3,700
$6,200
$2,180
$2,500
$58
$3,605
-$3,700
$325
$3,034
$1,503
39.2%
0.4%
63.8%
-23.9%
-20.7%
990.9%
-100.0%
5
Items Negatively Affecting Financial condition during this
time period and Managements’ response
Items Negatively Affecting Financial
Condition
Management action to offset the
Negative Items
Increased Tuition and Fees
Reduced Interest Expense
Managed Salaries by reduction in FTE's
Managed Non-Salary Expense
Increased Transfer from UTMC
Reduced Capital Expenditures
Increased Interest Income
Unrealized Gains/Losses
Total Management Action
Total Impact
Reduction in State Share of Instruction/State Appropriations
Reduction in Sales and Service Revenue
Reduction in Other Revenue
Reduction in State Capital Appropriations
Increase in Benefits
Total Impact
$17,316
$12,701
$1,439
$3,700
$1,957
$37,113
Total Impact
$8,366
$3,437
$5,564
$3,775
$5,607
$6,200
$2,180
$2,500
$37,630
12% Decline in Enrollment (Estimated impact $26,107 )**Not shown in numbers above
Auxiliary Revenue
(in millions)
$90,000
$85,000
$86,944
$80,000
$75,000
$80,051
$80,448
$74,720
$70,000
$69,595
$65,000
$67,747
Auxiliary
Revenue
$60,000
$55,000
$50,000
FY2010
Budget
FY2011
Budget
FY2012
Budget
FY2013
Budget
FY2014
Budget
FY 2015
Budget
*FY2013 student bookstore moved to UT Foundation
6
FY 2016 Budget Development
University of Toledo
Academic Unit
FY 2016 Budget Development
FY2015
Adjusted
Budget
Revenue
Tuition and Fees
Scholarships and Other Aid
State Share of Instruction
Government Grants and Contracts
Non Government Gifts and Contracts
Sales and Service
Other Revenue
Total Revenue
$288,663
-$64,390
$224,273
$113,678
$86,717
$6,933
$70,226
$4,235
$506,062
FY 2016 Base
Budget
Adjustments
to Base
Adjusted FY
Budget
2016 Budget
$288,663
-$64,390
$224,273
$113,678
$86,717
$6,933
$70,226
$4,235
$506,062
• FY2016 Adjusted Budget reflects FY2015 Fall
Enrollment Decline and a 3% Increase in both
Undergrad Enrollment and Tuition and Fees
$2,716
$1,680
$4,395
$1,000
$908
$6,303
$291,379
-$62,710
$228,669
$114,678
$86,717
$6,933
$71,134
$4,235
$512,366
7
FY 2016 Budget Development
University of Toledo
Academic Unit
FY 2016 Budget Development
FY2015
Adjusted
Budget
Expenses
Salaries
Benefits
Outside Purchased Services
Supplies
Seminars and Travel
Information and Communication
Occupancy
Provision for doubtful accounts
Pooled Designated and other funds
Insurance
Reimbursement from Hospital
Cost of Goods Sold-Aux. Services
Leases
Miscellaneous
Grants and contracts
Carry Forward Operating Exp.
Athletics-Full Cost of Attendance
Recruitment of President, Provost, VP of Finance, etc.
Depreciation
Interest Expense
Margin
$221,622
$88,940
$24,445
$22,827
$7,264
$10,976
$16,795
$3,561
$4,120
$1,353
-$5,182
$19,459
$434
$2,205
$77,505
FY 2016 Base
Budget
$221,622
$88,940
$24,445
$22,827
$7,264
$10,976
$16,795
$3,561
$4,120
$1,353
-$5,182
$19,459
$434
$2,205
$77,505
Adjustments
to Base
Adjusted FY
Budget
2016 Budget
$4,342
$2,000
$489
$457
$145
$220
$1,450
$880
$27
$389
$41,763
$9,771
$547,858
$41,763
$9,771
$547,858
$1,142
$1,100
$250
$2,137
-$302
$14,726
-$41,795
-$41,795
-$8,422
$225,964
$90,940
$24,934
$23,284
$7,409
$11,196
$18,245
$3,561
$5,000
$1,380
-$5,182
$19,848
$434
$2,205
$77,505
$1,142
$1,100
$250
$43,900
$9,469
$562,583
-$50,218
2% increase in salaries for eligible employees
Estimated increase in health benefits
2% inflation
2% inflation
2% inflation
2% inflation
9% adjusted electricity rates
Increase reserves to 5,000,000
2% inflation
2% inflation
25% is operating exp. Of the 33% of 13.84 million
8
FY 2016 Budget Development
University of Toledo
Academic Unit
FY 2016 Budget Development
Margin
Cash Impact
Add Back Depreciation
Principal Payment on Debt
Transfer from Hospital
State Capital Appropriations
Capital Expenditures
Capital Expenditures (From Carry Forward)
Change in Cash
FY2015
Adjusted
FY 2016 Base
Budget
Budget
-$41,795
-$41,795
$41,763
-$7,384
$14,400
$11,800
-$23,800
$41,763
-$8,559
$14,400
$11,800
-$21,900
-$5,016
-$4,291
* Assumes fully funded depreciation
Adjustments
to Base
Adjusted FY
Budget
2016 Budget
-$8,422
-$50,218
$2,137
-$22,000
$3,426
-$24,859
$43,900
-$8,559
$14,400
$11,800
-$43,900
-$3,426
-$36,002
*
9
5 Year Forecast-FY2016-FY2020
3% Enrollment and Related Services
FY2015
Adjusted
Budget
Cash Impact
Change in Cash
• Increase in Expenses in FY2017FY2020
• Annual Salary Increase of 2%$4.6M annually
• Annual Benefit Costs Increase
of 2%-$1.8M annually
• Inflation of 2%-Increases in
Operational costs-$2.2M
annually
• Depreciation annual Increase
of $2.2M
• Decrease in Principal &
Interest on Debt -$200k
annually
• Total Increased Expenses $42.7M
-$5,016
FY 2016 Base
Budget
-$4,291
Adjustments
to Base
Adjusted FY
Budget
2016 Budget
-$24,859
Increased Expenses or Other Changes FY 2017 FY 2018
2% annual salary increase
$4,419 $8,927
2% annual benefit increase
$1,782 $3,600
2% inflation on non-salary expense
(operating costs)
$2,126 $4,294
Changes in Principal and Interest on
Debt
$105
-$25
Changes in Depreciation
$2,100 $4,300
Cumulative total
$10,533 $21,096
-$36,002
FY2019 FY2020
$13,525 $18,215
$5,455 $7,346
$6,506
$8,762
-$1,064 -$634
$6,600 $9,000
$31,022 $42,689
10
5 Year Forecast-FY2016-FY2020
3% Enrollment and Related Services
FY2015
Adjusted
Budget
Cash Impact
Change in Cash
FY 2016 Base
Budget
-$5,016
-$4,291
Adjustments
to Base
Adjusted FY
Budget
2016 Budget
-$24,859
-$36,002
• Management Actions in FY2016-FY2020
• 3% Annual Increase of Tuition/Fees (undergrad)-$4.6M Average/annually
• 3% Annual Net Increase in Enrollment & Related Services (undergrad)-$5.4M
Average/annually
• Reduce Capital Spend to 52% funded depreciation in 2016 to 83% in 2020
• Faculty Retirement Savings-$1M
• Increase Auxiliary Margin- $1M
• Additional Management Actions $48.3M
Management Action Items
Increase Tuition and Fee (Undergrads)
Increase Enrollment & Related Services (Undergrads)
Faculty expenses-Enrollment related growth
Reduce Capital Spend
Faculty Retirement Savings
Improve Auxilliary Margin
Cumulative Total
FY 2016
$0
$0
-$725
$22,000
$1,000
$22,275
FY 2017
$4,497
$5,279
-$1,450
$16,000
$1,000
$1,000
$26,326
Increase in Tuition/Fees and Enrollment for 2016 are included in 2016’s Adjusted Budget of $-36M
FY 2018
$9,128
$10,717
-$2,175
$14,000
$1,000
$1,000
$33,670
FY2019
$13,899
$16,317
-$2,900
$10,000
$1,000
$1,000
$39,316
FY2020
$18,812
$22,086
-$3,625
$9,000
$1,000
$1,000
$48,273
11
5 Year Forecast-FY2016-FY2020
3% Enrollment and Related Services
FY 2016 Budget
-$36,002
-$36,002 -$36,002 -$36,002
-$36,002
Increased Expenses or Other Changes
2% annual salary increase
2% annual benefit increase
2% inflation on non-salary expense (operating costs)
Changes in Principal and Interest on Debt
Changes in Depreciation
Cumulative total
FY 2016
FY 2017
$4,419
$1,782
$2,126
$105
$2,100
$10,533
FY 2018
$8,927
$3,600
$4,294
-$25
$4,300
$21,096
FY2019
$13,525
$5,455
$6,506
-$1,064
$6,600
$31,022
FY2020
$18,215
$7,346
$8,762
-$634
$9,000
$42,689
Management Action Items
Increase Tuition and Fee (Undergrads)
Increase Enrollment & Related Services (Undergrads)
Faculty expenses-Enrollment related growth
Reduce Capital Spend
Faculty Retirement Savings
Improve Auxilliary Margin
Cumulative Total
FY 2016
$0
$0
-$725
$22,000
$1,000
$22,275
FY 2017
$4,497
$5,279
-$1,450
$16,000
$1,000
$1,000
$26,326
FY 2018
$9,128
$10,717
-$2,175
$14,000
$1,000
$1,000
$33,670
FY2019
$13,899
$16,317
-$2,900
$10,000
$1,000
$1,000
$39,316
FY2020
$18,812
$22,086
-$3,625
$9,000
$1,000
$1,000
$48,273
Cumulative Surplus (Deficit)
-$13,727
-$20,209 -$23,429 -$27,708
-$30,418
Additional Management Action Required
$14,000
$21,000
$24,000
$28,000
$31,000
$273
$791
$571
$292
$582
Improvement in Cash Flow (Before Investment Income)
12
5 Year Forecast-FY2016-FY2020
3% Enrollment and Related Services
FY 2016
FY 2017 FY 2018
FY2019
FY2020
Cumulative Surplus (Deficit)
-$13,727 -$20,209 -$23,429 -$27,708
-$30,418
Additional Management Action Required
$14,000
$28,000
$31,000
$292
$582
Improvement in Cash Flow (Before Investment Income)
$273
$21,000 $24,000
$791
$571
Investment Income @ 5.5% ROR
$9,500
$10,023 $10,574
$11,155
$11,769
Principal Payments on Debt
$8,559
$9,053
$9,341
$8,750
$9,595
$18,331
$19,866 $20,486
$20,197
$21,945
Improvement in Net Assets
Capital Spend
Less: State Appropriations
Capital Funded From Operations
% of Depreciation
FY 2016
$22,000
-$11,000
$11,000
52%
FY 2017
$28,000
-$11,000
$17,000
67%
FY 2018
$30,000
-$11,000
$19,000
71%
$4,280
$3,056
$3,667
$5,667
$4,722
$5,667
$944
$6,333
$5,429
$6,333
$905
FY2019 FY2020
$34,000 $35,000
-$11,000 -$11,000
$23,000 $24,000
81%
83%
Allocation of Capital
Facilities
Provost
IT
Contingency
$7,667
$6,708
$7,667
$958
$7,111
$7,111
$7,111
$2,667
* Gradually
increasing
capital spend
towards fully
funding
depreciation
13
5 Year Forecast-FY2016-FY2020
Flat Enrollment
FY2015
Adjusted
Budget
Cash Impact
Change in Cash
• Increase in Expenses in FY2017FY2020
• Annual Salary Increase of 2%$4.6M annually
• Annual Benefit Costs Increase
of 2%-$1.8M annually
• Inflation of 2%-Increases in
Operational costs-$2.2M
annually
• Depreciation annual Increase
of $2.2M
• Decrease in Principal &
Interest on Debt -$200k
annually
• Total Increased Expenses $42.7M
-$5,016
FY 2016 Base
Budget
-$4,291
Adjustments
to Base
Adjusted FY
Budget
2016 Budget
-$24,859
Increased Expenses or Other Changes FY 2017 FY 2018
2% annual salary increase
$4,419 $8,927
2% annual benefit increase
$1,782 $3,600
2% inflation on non-salary expense
(operating costs)
$2,126 $4,294
Changes in Principal and Interest on
Debt
$105
-$25
Changes in Depreciation
$2,100 $4,300
Cumulative total
$10,533 $21,096
-$36,002
FY2019 FY2020
$13,525 $18,215
$5,455 $7,346
$6,506
$8,762
-$1,064 -$634
$6,600 $9,000
$31,022 $42,689
14
5 Year Forecast-FY2016-FY2020
Flat Enrollment
(000’s)
FY2015
Adjusted
Budget
Cash Impact
Change in Cash
FY 2016 Base
Budget
-$5,016
Adjustments
to Base
Adjusted FY
Budget
2016 Budget
-$4,291
-$24,859
-$36,002
• Management Actions in FY2016-FY2020
• 3% Annual Increase in Tuition/Fees (undergrad)-$4.6M Avg./annually
• Increase Enrollment and Related Services by 3% in FY2016, Flat FY2017-2020
• Reduce Capital Spend to 52% funded depreciation in 2016 to 83% in 2020
• Faculty Retirement Savings-$1M
• Increase Auxiliary Margin- $1M
• Additional Management Actions $29M
Management Action Items
Increase Tuition and Fee (Undergrads) 3% Annually
Increase Enrollment & Related Services (Undergrads)
Faculty expenses-Enrollment related growth
Reduce Capital Spend
Faculty Retirement Savings
Improve Auxilliary Margin
Cumulative Total
FY 2016
$0
$0
-$725
$22,000
$1,000
$22,275
FY 2017 FY 2018
$4,497 $9,128
$0
$0
-$725
-$725
$16,000 $14,000
$1,000 $1,000
$1,000 $1,000
$21,772 $24,403
Increase in Tuition/Fees and Enrollment for 2016 are included in 2016’s Adjusted Budget of $-36M
FY2019
$13,899
$0
-$725
$10,000
$1,000
$1,000
$25,174
FY2020
$18,812
$0
-$725
$9,000
$1,000
$1,000
$29,087
15
5 Year Forecast-FY2016-FY2020
Flat Enrollment
FY 2016 Budget
-$36,002 -$36,002 -$36,002 -$36,002
-$36,002
Increased Expenses or Other Changes
2% annual salary increase
2% annual benefit increase
2% inflation on non-salary expense (operating costs)
Changes in Principal and Interest on Debt
Changes in Depreciation
Cumulative total
FY 2016
FY 2017 FY 2018 FY2019
$4,419
$8,927 $13,525
$1,782
$3,600
$5,455
$2,126
$4,294
$6,506
$105
-$25 -$1,064
$2,100
$4,300
$6,600
$10,533 $21,096 $31,022
FY2020
$18,215
$7,346
$8,762
-$634
$9,000
$42,689
Management Action Items
Increase Tuition and Fee (Undergrads) 3% Annually
Increase Enrollment & Related Services (Undergrads)
Faculty expenses-Enrollment related growth
Reduce Capital Spend
Faculty Retirement Savings
Improve Auxilliary Margin
Cumulative Total
FY 2016
$0
$0
-$725
$22,000
$1,000
$22,275
FY 2017
$4,497
$0
-$725
$16,000
$1,000
$1,000
$21,772
FY2019
$13,899
$0
-$725
$10,000
$1,000
$1,000
$25,174
FY2020
$18,812
$0
-$725
$9,000
$1,000
$1,000
$29,087
Cumulative Surplus (Deficit)
-$13,727
-$24,764 -$32,696 -$41,850
-$49,604
Additional Management Action Required
$14,000
$25,000
$33,000
$42,000
$50,000
$273
$236
$304
$150
$396
Improvement in Cash Flow (Before Investment Income)
FY 2018
$9,128
$0
-$725
$14,000
$1,000
$1,000
$24,403
16
5 Year Forecast-FY2016-FY2020
Flat Enrollment
FY 2016
FY2019
FY2020
Cumulative Surplus (Deficit)
-$13,727 -$24,764 -$32,696 -$41,850
-$49,604
Additional Management Action Required
$14,000
$42,000
$50,000
$150
$396
Improvement in Cash Flow (Before Investment Income)
FY 2017 FY 2018
$25,000 $33,000
$273
$236
$304
Investment Income @ 5.5% ROR
$9,500
$10,023 $10,574
$11,155
$11,769
Principal Payments on Debt
$8,559
$9,053
$9,341
$8,750
$9,595
$18,331
$19,312 $20,219
$20,055
$21,760
Improvement in Net Assets
Capital Spend
Less: State Appropriations
Capital Funded From Operations
% of Depreciation
FY 2016
$22,000
-$11,000
$11,000
52%
FY 2017
$28,000
-$11,000
$17,000
67%
FY 2018
$30,000
-$11,000
$19,000
71%
$4,280
$3,056
$3,667
$5,667
$4,722
$5,667
$944
$6,333
$5,429
$6,333
$905
FY2019 FY2020
$34,000 $35,000
-$11,000 -$11,000
$23,000 $24,000
81%
83%
Allocation of Capital
Facilities
Provost
IT
Contingency
$7,667
$6,708
$7,667
$958
$7,111
$7,111
$7,111
$2,667
* Gradually
increasing
capital spend
towards fully
funding
depreciation
17
FY 2011-FY 2015 Budget Comparison
University of Toledo
UTMC
Comparison of FY2011 Budget vs FY2015 Budget
(000's)
Net Patient Revenue
Other Revenue
Total Operating Revenue
FY2011 Budget FY2012 Budget FY2013 Budget
$253,911
$249,083
$256,264
$14,895
$9,873
$11,649
$268,806
$258,956
$267,913
FY2014
Budget
$258,984
$17,369
$276,352
FY 2015
Budget
$273,421
$13,916
$287,338
$ Change
% Change
$19,510
7.7%
-$979
-6.6%
$18,532
6.9%
• $18.5M or 6.9% increase in Operating Revenue
•
•
•
•
•
•
Growth in Cancer Treatment
Growth in Emergency Room visits
Growth in Clinic volume (new locations)
Growth in Kidney Transplants, Vascular Surgery, GI, Interventional Neurology, LVAD
(Heart), Pain Services, Wound services, Rehab Services, Behavioral Health, etc..
Improved contracts with commercial payers
Increased complexity of inpatients, CMI went from 1.6976 to 1.7977
•
CMI: a relative value assigned to a diagnosis-related group of patients in a medical care environment. The CMI value is used in
determining the allocation of resources for the care and/or treat of patients.
18
FY 2011-FY 2015 Budget Comparison
University of Toledo
UTMC
Comparison of FY2011 Budget vs FY2015 Budget
(000's)
Net Patient Revenue
Other Revenue
Total Operating Revenue
FY10
FY2011 Budget FY2012 Budget FY2013 Budget
$253,911
$249,083
$256,264
$14,895
$9,873
$11,649
$268,806
$258,956
$267,913
FY11
FY12
FY13
FY14
13,004
13,087
13,482
13,444
13,501
414
3.2%
Total Patient Days
59,718 58,292 64,620
63,509
59,515
-203
-0.3%
195,531 215,616 216,808 205,292 205,260
9,729
5.0%
Emergency Visits
I/P Surgeries
O/P Surgeries
Total Surgeries
31,197 32,594
4,387
5,385
9,772
4,138
5,638
9,776
FY 2015
Budget
$273,421
$13,916
$287,338
$ Change
% Change
$19,510
7.7%
-$979
-6.6%
$18,532
6.9%
$
%
Change Change
Admissions/Observation Pts.
Clinic Visits
FY2014
Budget
$258,984
$17,369
$276,352
34,937
34,800
33,989
2,792
8.9%
4,359
5,685
10,044
4,205
5,670
9,875
4,210
5,614
9,824
-177
229
52
-4.0%
4.3%
0.5%
Staffed Beds
FY9
FY10
FY11
FY12
FY13
FY14
Acute
180
180
186
200
209
211
Rehabilitation
22
22
22
22
22
22
Psychiatric
16
16
16
16
16
16
218
218
224
238
247
267
Geri Psych
Total
18
19
FY 2011-FY 2015 Budget Comparison
University of Toledo
UTMC
Comparison of FY2011 Budget vs FY2015 Budget
(000's)
Salaries
Benefits
Non-Salary Expense
Depreciation
Interest
Total Expenses
FY2011 Budget FY2012 Budget FY2013 Budget FY2014 Budget FY 2015 Budget
$103,125
$103,310
$103,453
$108,558
$113,101
$26,732
$25,865
$27,312
$28,062
$29,017
$116,367
$107,609
$113,448
$117,219
$115,336
$14,024
$14,024
$15,743
$15,925
$16,833
$3,655
$4,869
$4,724
$4,602
$4,251
$263,903
$255,678
$264,679
$274,365
$278,537
$ Change
% Change
$9,976
9.7%
$2,285
8.5%
-$1,032
-0.9%
$2,809
20.0%
$596
16.3%
$14,634
5.5%
• Increase in Expenditures of $14.6M or 5.5%.
•
•
•
•
•
Salary Expenses increased on average 2.5% annually due staffing increases (i.e., New
Clinics and Cancer Treatment) and wage increases.
Benefit costs increased (healthcare and tuition waivers)
Increase in supply costs, kidney acquisition, pharmaceutical sales.
Depreciation expenditures increased
Purchased Services increased related to software and equipment maintenance.
20
FY 2010-FY 2015 Budget Comparison
University of Toledo
UTMC
Comparison of FY2011 Budget vs FY2015 Budget
(000's)
Net Patient Revenue
Other Revenue
Total Operating Revenue
FY2011
FY2012
Budget
Budget
$253,911 $249,083
$14,895
$9,873
$268,806 $258,956
Total Expenses
$263,903
$255,678
$264,679
$274,365
$278,537
$14,634
$4,903
$3,278
$3,234
$1,987
$8,801
$3,898
FY2011
FY2012
Budget
Budget
$14,024
$14,024
-$2,101
-$4,128
-$8,793 -$10,000
$0
$0
-$8,000
$0
$33
$3,174
FY2013
Budget
$15,743
-$2,064
-$10,000
$0
-$10,000
-$3,087
FY2014
Budget
$15,925
-$7,049
-$11,615
$0
-$3,700
-$4,452
Margin
Add Back Non-Cash Expense (Depreciation)
Principal Payment on Debt
Transfer to College of Medicine
State Captal Appropriations
Capital Expenditures (Funded from Operations)
Budgeted Cash Flow
FY2013
Budget
$256,264
$11,649
$267,913
FY2014
Budget
$258,984
$17,369
$276,352
FY 2015
Budget
$ Change % Change
$273,421
$19,510
7.7%
$13,916
-$979
-6.6%
$287,338
$18,532
6.9%
5.5%
FY 2015
Budget
$ Change % Change
$16,833
$2,809
20.0%
-$6,606
-$4,505
214.5%
-$14,400
-$5,607
63.8%
$0
$0
0.0%
-$6,000
$2,000
-25.0%
-$1,372
-$1,406
*
21
* Does not include Capital Expenditures funded from Bond Debt