Transcript An Integrated Strategic Plan for AUC

AUC:
Catalyst for Change
Planning and Budgeting for 2015-2017
Integrated Planning Committee
Monday, September 09, 2013
Action
Time Plan
1
Planning kickoff meeting, distribution of planning guidelines
Sep. 9, 2013
2
Unit-level deadline (version five)
Sep. 22, 2013
3
School-level deadline (version four)
Oct. 13, 2013
4
Deadline for submission of unit-level revised strategic plans FY2015-2017
Oct. 27, 2013
5
Deadline for submission of FY13 assessment reports
Nov. 1, 2013
6
Area-level deadline (version three)
Nov. 10, 2013
7
First view of the budget submission plan version 3 in BOT format
Nov. 24, 2013
8
Distribution of the budget submission analysis/ exceptions review document to the Cabinet
Dec. 8, 2013
9
Iterative budget committee review
Dec. 10-31, 2013
10
Delivery of the enrollment and academic plans
Mid-Dec., 2013
11
Delivery of financial plan
Mid-Jan., 2014
12
Board Executive Committee Meeting
Early Feb., 2014
13
In person meeting of Board Finance Committee
Early Feb., 2014
14
AUC Board Meeting, approval of all plans and budgets by BOT
Mar. 20-21, 2014
15
Close of Fiscal Year
Jun. 30,2014
16
Beginning of New Fiscal Year
Jul. 1, 2014
AUC’s Institutional Priorities
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Education for Citizenship and Service
Research Reflecting Innovation and Impact
Outreach Enhancing Engagement and Access
Management with Sustainability and Integrity
2015-2017
BUDGET AND PLANNING
PARAMETERS
Assumption
Current Financial Model
FY14
FY15
FY16
FY17
1. Forex
7.25
7.25
7.25
7.25
2. Inflation
6%
6%
6%
6%
2.30%
2.30%
2.30%
TBD
b. Other revenue
3%
3%
3%
3%
4. Supplies & Services
0%
0%
0%
0%
5. Depreciation Expense
3%
3%
3%
3%
6. New Initiatives
$2 M
$1.7 M
$1.7M
$1.7 M
7. Endowment Support
5% of average 3 yrs value [value growth 7%]
Operating Result ($Million)
0.03
3. Revenue
a. Tuition
1.1
4.7
TBD
Overview of Key Issues
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Exchange Rate
Operational Efficiency and Effectiveness
Enrollment Management
Human Resources
Endowment Spending
Fundraising
Capital Budgets and Financing
Debt Management
FY 2015-2017
• Fiscal year changed: July 1-June 30 starting July
2013.
– FY 2015 is a 12-month budget (July 1, 2014-June
30, 2015)
– Can re-allocate among months. Amounts are
annual, so if not spent in month allocated, are still
available in following months.
• Try to be as accurate in monthly budgeting as possible.
• For questions, contact Budget and Financial Planning
Office
Supplies and Services Budget Controls
 Previously: Control at the total budget level
 SAP checks at the total available budget for the
supplies and services not on a specific line item.
 Beginning in FY15: Budget control will be placed
on groups at high priority for cost control
 Communication & Information, Utilities, Travel,
Consulting and Professional Services
 You cannot overspend these lines.
 Permission from University Cabinet and the EVP
required for transfers in and out of these lines.
Goal Setting
• Start with your current plan. What do you
need to achieve plan? How can you shift
resources to achieve goals?
• Need to focus on quality, effectiveness,
improvements in efficiency of operations.
• Budget your plan, not plan your budget.
Planning Matrix
• New initiatives only in academic area.
– Planning matrix closed to new initiatives, including
new capital equipment
– Self-funded activities allowed
– Enter HR requirements, including tuition
remission benefit
• No new staff requests
• May re-allocate within current operational
budgets
• Keep capital replacements to a minimum
Planning Process
1.
2.
Refresh and review your unit’s goals
Brainstorm ways to strengthen current programs, areas that can be
reduced or eliminated
3. ID opportunities to reallocate existing funds to support these
initiatives
4. Adjust your budget in SAP as needed. Re-allocate among supplies and
services lines as needed, taking the new budget controls into
consideration. Do not increase overall amount.
– 12-month budget already loaded. Adjust monthly amounts as
needed.
5. In planning matrix, only enter HR information and self-funded
initiatives, except for academic area.
– Don’t forget! Enter scholarship information for all faculty/staff
using benefit
6. Submit your SAP budget and planning matrices according to timeline
7. Await approval
Planning Resources
 Integrated Planning Committee
 Institutional Research
 Will provide data and technical assistance in planning and assessment as
needed.
 [email protected]: Email us if you need assistance or have
questions.
 AUC Planning and Budgeting Central website
 Located under “About AUC”, “Governance and Administration” , “Policies”
on AUC’s website.
 Budget memo, planning assumptions, links to blog
 http://www.aucegypt.edu/about/PlanBudg/Pages/Home.aspx
 All things budget: http://budget.aucegypt.edu
 Email us if you need assistance or have questions.
Questions?
• If you have any questions or need any
assistance, contact us at:
– [email protected]