Budget Update FY 12 Mid Year Revenue Analysis and FY 13 Budget Planning Janet Parker, Associate Vice President, Financial Affairs Mary Simon, Senior Director, Budget.
Download ReportTranscript Budget Update FY 12 Mid Year Revenue Analysis and FY 13 Budget Planning Janet Parker, Associate Vice President, Financial Affairs Mary Simon, Senior Director, Budget.
Budget Update FY 12 Mid Year Revenue Analysis and FY 13 Budget Planning Janet Parker, Associate Vice President, Financial Affairs Mary Simon, Senior Director, Budget Development & Planning PRESENTATION TO THE UNIVERSITY STRATEGIC RESOURCE PLANNING COUNCIL JANUARY 26, 2012 1 UT System Office of Strategic Initiatives Report Undergraduate Fall Tuition & Fee Price & Operational Revenue – January 12, 2012 Posted at Financial Affairs /Budget Website: http://www.utsa.edu/financialaffairs/Budget/docs /pdf/uts-undergradFallTuition.pdf 2 Cumulative Rate Increase since Fall 03 UT Dallas 110% UTSA 98.2% UT Arlington 96.4% UTEP 89.4% UT Austin 79.9% 3 Cumulative Change since 03-04 UT Arlington UTEP UT Dallas UT Austin UTSA -33.7% -17.4% -16.8% -12.3% - 5.6% Amounts above adjusted for inflation 4 Above amounts adjusted for inflation 5 Mid Year Tuition & Fee Revenue Projections 6 Tuition and Student Fee Revenue Projections Budget FY2012 ($000) Forecast FY2012 * % Increase over Budget $143,906 44,695 99,211 $149,863 47,602 102,261 4.1% 6.5% 3.1% 261 281 7.7% TOTAL Mandatory Student Fees Designated - Mandatory Fees Auxiliary - Mandatory Fees $68,077 41,577 26,500 $70,397 43,030 27,367 3.4% 3.5% 3.3% TOTAL Incidental Student Fees Designated Program, Course Fees Auxiliary Student Parking $22,361 18,976 3,385 $23,287 19,887 3,400 4.1% 4.8% 0.4% $234,605 $243,828 3.9% TOTAL Tuition Statutory Tuition Designated Tuition Lab & Supplemental Fees TUITION AND STUDENT FEES (before set asides for Tuition) * Preliminary forecast pending Spring Census review 7 Revenue Generating Semester Credit Hours SCH (in thousands) 1000 81.5% of exemptions due to Hazelwood-a 3 fold increase over 3 yrs 900 800 (in thousands) 700 671.0 693.1 714.3 716.4 600 Grad Non-Res 500 Grad Res 400 300 UG Non-Res 200 UG Res 100 0 FY 2009 FY 2010 FY 2011 Frcst FY 2012 8 Hazelwood Exemption Trend HC % Chg SCH % Chg Total Revenue Exempted % Chg FY 11-12 ESTIMATE 2,221 28% 23,434 36% 7,431,000 40% FY 10-11 1,740 113% 17,170 165% $5,317,039 162% FY 09-10 816 20% 6,488 23% 2,025,978 29% FY 08-09 681 <8%> 5,263 <7%> 1,566,792 <3%> FY 07-08 738 -- 5,665 -- 1,616,761 -- We expect Hazelwood exemptions to continue to grow at a higher rate as more veterans exit the military. • Total revenue exempted includes all tuition & fees, except Student Service fees. • Hazelwood exemptions comprise 84% of total exemptions (FY12 est. = $8.9 Mil) 9 Revenue Projections Estimated revenue generating SCH (non-exempted) or headcount depending on how fee is assessed FY 12 Budgeted SCH Revised Projection SCH Chg over PY Actual Chg over CY Budget “Pending” TERM FY 11 Actual SCH FALL 334,735 327,740 342,659 7,924 2.4% 14,919 4.6% 342,659 SPR 309,483 301,150 309,483 0 8,333 2.8% 315,673 SUM 70,121 66,110 64,220 -5,901 <8.4%> -1,890 <2.9%> 59,600 TOTAL 714,339 695,000 716,362 2,023 0.28% 21,362 3.1% 717,932 Will be adjusted based on Spring Census review Mid Yr Adjstmt 3.3% increase over budget 10 Certified “Paying” SCH and Headcount Actual FY 10-11 Fall HC UG - Res Fall 10 Spring Sum HC Spring 11 HC 24,462 299,942 22,593 Sum 11 Total HC % HC Total SCH % SCH 274,622 8,911 57,834 55,966 82.2% 632,398 88.5% UG - NR 513 6,967 521 7,177 286 1,741 1,320 1.9% 15,885 2.2% G - Res 3,456 21,580 3,353 21,468 1,756 8,522 8,565 12.6% 51,570 7.2% G - NR 229 1,615 241 1,741 103 455 3,811 0.5% Doctoral Res 630 4,566 603 4,407 394 1,557 10,530 1.5% Doctoral NR 14 65 14 68 6 12 145 0.1% Total FY 11 29,304 334,735 27,325 309,483 11,456 70,121 573 0.8% 1,627 2.4% 34 0.05% 68,085 100% 714,339 Frcst FY12 29,840 342,659 27,325 309,483 10,746 64,219 67,911 -- 100% 716,362 -11 Cumulative TOTAL Change TOTAL 1.3% 1.2% 5.0% <4.1%> <19.0%> 23.3% 2.8% 5.5% 18.6% 14.0% 3.1% 0.3% 8.1% incr. 1.7% <0.3%> 5.4% incr. 12.4% 17.8% 61.6% 26.0% incr. 1.3% 19.4% 60.0% incr. 50.6% incr. .9% 12 FALL 2011 Semester FALL 2011 UG - Resident UG - Non-Resident G - Resident G - Non-Resident Doctoral - Resident Doctoral - NR Total Semester Credit Hours Increase over PY % HC Change Fall 11 % of over Fall Headcount Total 10 Fall 11 SCH % of Total 24,507 785 3,580 82.1% 2.6% 12% 0.2% 53.0% 3.6% 301,871 10,628 23,191 88.1% 3.1% 6.8% 270 679 19 0.9% 2.2% .06% 17.9% 7.8% 35.7% 1,869 5,018 82 0.5% 1.5% .02% 1.8% 342,659 7,924 29,840 536 % SCH Change over Fall 10 0.6% 52.5% 7.5% 15.7% 9.9% 26.2% 2.4% • Biggest % growth increase due to non-resident students • UG students account for 91% of SCH & 90% of Tuition & Fee revenue 13 Mid Year Budget Adjustments Current Year FY12 • Mid Year Budget adjustments will be made to all revenue accounts using Fall 11 Actual, Spring Census & 85% of prior year Summer SCH/Headcounts • Summer 12 enrollment unpredictable due to lack of Pell awards • Financial Aid suggests Summer 12 enrollment will be closer to FY09 – which is roughly 85% of what we budgeted • Adjustments will be completed by end of February 14 Tuition & Fee Proposal Graduation Rate Improvement Plan was very well received by UT System but required changes to draft proposal: Eliminate Energy fee and change designated tuition rates to reflect exactly 2.600% increase in T&F net of Athletics increase for undergraduate total academic costs. Resulted in: New designated tuition rates: Increased designated tuition set asides for financial aid Less total revenue to replace the lost funding to the utility budget 15 Tuition & Fee Proposal Undergraduate Designated Tuition FY 2012 New Rate FY2014 $150.25 $158.10 $148.75 $156.75 $4,541.25 $4,671 $4542 $4674 Change to DT Set Aside $185,455 <$18,542> Budget Planning Impact <$600,000> Utilities <$125,000> Summer Session Proposed Rate Revised Per Semester Total Academic Cost (TAC) 15 SCH Proposed TAC $142.75 FY 2013 16 Tuition & Fee Proposal Graduate Designated Tuition FY 2012 New Rate $142.75 Proposed Rate Revised Per Semester Total Academic Cost (TAC) 9 SCH Proposed TAC Change to DT Set Aside FY 2013 FY2014 $159.50 $173.75 $156.00 $169.50 $3,566.80 $3,704.05 NAV NAV $30,793 $6,592 Revised proposal found at: http://www.utsa.edu/financialaffairs/docs/TF/ TuitionandFeesProposalF12-F14.pdf 17 FY13 Budget Planning SCH basis for revenue projections will continue to be conservative All new tuition revenue due to rate increases if approved, must be allocated towards the Graduation Rate Improvement Plan and graduate education as detailed in the Tuition & Fee proposal Limits flexibility for other new funding awards, e.g. merit Possible reductions to state appropriations in the next biennium beginning FY 14, including changes to formula could have a significant impact to UTSA FY 13 “Resources & Requirements” will be developed for CMO to review in February 18 FY 13 Budget Planning Calendar Feb 1 Census Date Spring 2012 Semester Feb 8 Board of Regents Budget Policies and Guidelines Feb 24 Revenue Projections and Debt Service Budgets to Fee Funded areas Mar 6 FY13 Status Quo Budget Preparation Begins by Departments March Budget Planning by CMO & Strategic Resource Planning Council March 30 FY13 Budget Documents are due to Budget Office April 2 - 9 Preparation for UT System Budget Goals & Priorities Hearing May 7 -10 Draft FY13 Operating Budget due to UT System August 22 FY13 Operating Budgets approved by Board of Regents 19