Transcript Document
FY15 Student Tuition Consultation SFMC – February 26, 2014 1 2 Up Front Summary • Tuition Increase of $0 or 0% for FY15 approved by Legislature in 2013 session • State budget has turned around and is now in surplus • MnSCU making supplemental budget request to offset salary increases in FY14 and 15 3 WSU Total Budget Composition – FY14 • General Fund $82M, 65% – • • • • • • • • (Tuition $57M, State Appropriation $25M) Residence Halls $20M, 15% Laptop Program $7M, 6% Auxiliary Enterprises $5.5M, 5% Student Fees $4.5M, 4% Student Union $2M, 2% Miscellaneous $3M, 2% Grants and Contracts $2M, 2% TOTAL $125 Million Residence Hall 15% Laptop Program 6% General Fund 65% Auxiliary Enterprises 5% Student Fees 4% Grants 2% Misc 2% Student Union 2% Innovation Fund = $400,000 or about ½ of 1% of the Total University Budget 4 General Fund Budget by Nature – FY14 Repair and Replacement Operating Debt Service 1% (Supplies and 1% Expenses) 14% Fuel and Utilities 2% Equipment 2% Student Employment 2% Employee Salaries 60% Fringe Benefits 18% • • • • • • • • Employee Salaries 60% Fringe Benefits 18% Student Employment 2% Equipment 2% Operating (Supplies & Expenses) 14% Repair and Replacement 1% Fuel and Utilities 2% Debt Service 1% 80% of the General Fund Budget is Invested in People 5 75% Era of selective investment and development. Era of inverted budget reductions. Support units took 2x their share, Academic units took 1/2 their share. 65% 69% 66% Era of double digit tuition increases. FY03-12%, FY04-15%, FY05-15% 55% Era of shared responsibility. All units take a proportional share of the reductions. Tuition held to reasonable levels. 45% 35% 34% 31% 25% FY91 FY93 FY95 FY97 FY99 Tuition FY01 FY03 FY05 State Appropriation FY07 FY09 FY11 FY13 6 FY2014/15 Budget Planning Factors State of Minnesota • State budget surplus for FY14/15 is $1.086 billion or $825 million – $246 million must be repaid to the K-12 school shifts • Governor has not issued any supplemental budget recommendations – “It’s a bonding year” • Next economic forecast is due out 1st week of March • MnSCU has asked for a $31 million supplemental appropriation and a language change that would free up an additional $17 million from FY14 to pay for salary settlements 7 FY2015 Budget Planning Factors - WSU • FY15 Budget Scenario Calculator on Fiscal Affairs / Budget ToolKit page http://www.winona.edu/fiscalaffairs/budget_101.asp • University is estimating a $1.5 million budget deficit for FY15 • Offered BESI to all employees, currently reviewing options for replacements • Increases in employee wages and health insurance continue to be the largest cost drivers at the University • 2.6% available vs. 3.9% awarded to certain unions created funding gap • Uncertain enrollment for FY15 and beyond • FY13 8,497 FYE • FY14 8,307 FYE • FY15: Changing demographics makes future enrollment projections challenging 8 Tuition Costs at Selected Institutions – FY14 Annual Undergraduate Tuition – Full Time Student $14,000 $12,060 $12,000 $9,930 $10,000 $8,000 $8,769 $6,668 $6,866 $7,146 MN State U Mankato Winona State University Bemidji State University $6,000 $4,000 $2,000 $0 UW - La Crosse UW - Madison U of M - Twin Cities 9 History – Tuition and Budget Reductions •Tuition Increases 20% •FY03 – 12% 15% •FY04 – 15% 10% •FY05 – 15% •FY06 – 7% 5% •FY07 – 9% 0% FY03 FY04 FY05 FY06 •FY08 – 4% •FY09 – 5% •FY10 – 5% (with assistance from Federal stimulus of 2%) •FY11 – 5% (with assistance from Federal stimulus of 2%) •FY12 – 5% •FY13 – 3% (lowest increase of State U’s within MnSCU) •FY14 – 0% FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 •Budget Reductions •FY02 - $1.0M •FY04 - $1.2M •FY10 - $1.8M •FY12 - $2.5M 10 FY2015 WSU Tuition Proposal • Tuition increase of 0% MN Undergraduate FY14 Board Approved FY15 Amount of Increase FY14 est. (Proposed) Per Credit $227.00 $0 $227.00 Banded (Semester) $3,433.00 $0 $3,433.00 Banded (Annual) $6,866.00 $0 $6,866.00 11 Resources • Most current information on budget at • President’s page: • www.winona.edu/president/index.asp • Fiscal Affairs page: • www.winona.edu/fiscalaffairs • MnSCU Finance page: • www.finance.mnscu.edu 12 Questions 13