Transcript University of Massachusetts Boston F&A Advisory Group Planning & Budgeting Update Apr 2015 Office of Budget & Financial Planning 04/22/2015

University of Massachusetts Boston
F&A Advisory Group
Planning & Budgeting Update
Apr 2015
Office of Budget & Financial Planning
04/22/2015
NEASC Review
Strengths
Efforts to “standardize the financial management
structure”
• discrete phases of a planning & budgeting cycle
• multi-year forecast, briefing book & model
• Identified opportunities to reduce our risk
Concerns
“... every major revenue source is at risk”
• student tuition & fees, dependent on enrollment and our ability
to increase fees
• state support, highly volatile
• grants & contracts revenue, difficult federal funding environment
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Student tuition & fees
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State support - fcst
($ in millions)
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State support – actual trends
($ in millions)
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Grants & contracts revenue
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Strategic
planning
Planning & Budgeting
@UMass Boston
Identify investments needed to realize
strategic goals
Outline execution strategy – resources
& timeframe
Jan –Mar
Outcomes
Identify metrics of success
Quantify results (invest, subsidize,
or disinvest)
Financial & capital
planning
Quantify financial parameters (sources and
uses of funds)
Identify fixed costs (debt, compensation) vs
discretionary new resources
Highlight opportunities and concerns
Jul –Jun
Budget
execution
Allocation of budget authorization
Reporting (actual vs budget)
Monitoring compliance
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Mar–Jun
Annual budget
First “slice” of the multi-year plan, updated
for new information
Set priorities for coming year
Quantified action plan for next 12 months
Multi-year Forecast
FY15
FY16
FY17
FY18
FY19
FY20
212,980
232,975
252,058
272,606
292,498
315,479
44,569
44,569
44,569
44,569
44,569
44,569
111,023
114,896
120,127
123,736
127,392
131,187
34,449
35,539
35,730
36,153
36,824
38,054
239,132
263,978
267,025
279,277
292,047
305,364
36,926
41,838
47,534
52,907
57,238
62,645
7,805
8,218
8,841
9,514
9,659
9,529
Central support
12,643
12,643
12,870
13,102
13,338
13,578
Depreciation
17,422
23,359
27,155
36,147
45,763
46,474
Interest (debt)
7,923
11,310
14,124
18,614
23,277
22,931
Sources of
funds
Tuition & fee
Grants & contracts
State
All other
Uses of funds
Payroll & fringe
Financial aid
Utilities
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Key findings
Expense growth will outpace revenue, leading to a structural deficit
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Key findings
Increasingly reliant on enrollment and student fees
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Key findings
Fixed costs will continue to limit discretionary resources
Cumulative expense
change
FY20 vs FY14
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Schedule for Annual Budget (Apr)
13
14
15
16
17
Faculty Budget & Long-Range
Planning
Enrollment Mgmt
w/Lisa & Michael
Campus Services
w/Diane, Steve, Jeff, Erin
Athletics
w/ Paula, Marsha
University Advancement
w/ Dee
20
21
22
23
24
HOLIDAY
Provost Budget Hearings (Honors,
CM)
F&A Advisory Group
Provost Budget Hearings (IT)
Provost Budget Hearings (CPCS)
Univ Advancement
w/Gina, Dee
Provost Budget Hearings (CAPS)
IT Capital Plan meeting
27
28
29
30
Provost Budget Hearings (CEHD, IR,
MGS, CLA)
VC budget requests for
FY16 completed
30th: Provost Budget Hearings
(VPASS, CNHS, GISD, OGP, CSM,
R/GS)
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Schedule for Annual Budget (May)
4
11
5
6
7
Provost’s Office review (w/Provost, Kirsten)
Faculty Budget & Long-Range Planning
Consolidated budget requests
to VCs
12
13
14
8
15
Planning & Budget Committee (Chris, Ellen, Provost, Sue) to
review
18
19
20
F&A Advisory Group
25
26
HOLIDAY
21
Planning & Budget Committee to review
27
28
Final FY16 budget
recommendations to VCs
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22
Pos Mgmt snapshot for budget
memo
29
Schedule for Annual Budget (Jun)
8
9
15
16
10
11
12
Board A&F Committee
meeting
Final FY16 budget to
Chancellor
17
18
19
25
26
Board of Trustees
meeting
22
23
Position Mgmt snapshot
for FY16 encumbrances
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24
Load Pos Mgmt budget
based on snapshot
Schedule for Annual Budget
Feb/early Mar kick-off meetings with VC areas
Mar/Apr
VC area budget development
Apr 30
completed VC budget requests
May
to VCs (information, input)
to Chris, Provost, Ellen for final
recommendations
Early Jun
final recommendations to Chancellor
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Themes for FY16
Building a stable and sustainable process going forward
Expanding the process to be more transparent and
inclusive
Agreement on the numbers
Focus on opportunities to reallocate existing budget
authorization
Done!
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