Transcript Document

FY15 Student Tuition Consultation
SFMC – February 26, 2014
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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
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WSU Total Budget Composition – FY14
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General Fund $82M, 65%
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(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
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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%
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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
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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
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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
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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
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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
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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
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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
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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
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Questions
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