Transcript Tuition Policy Advisory Committee Public Forum 10/9/2003 Tuition Policy Advisory Committee University Finances FY03/04 Total University Budget $1.44B Educational & General Component 59% Total University Budget $846.7M Endowment Component 9% $129.1M $1.44B Research Component Auxiliary Component 20% 12% $292.2M 10/9/2003 $176.6M Tuition Policy Advisory Committee.

Tuition Policy Advisory Committee
Public Forum
10/9/2003
Tuition Policy Advisory Committee
1
University Finances
FY03/04 Total University Budget $1.44B
Educational
& General
Component
59%
Total University
Budget
$846.7M
Endowment
Component
9%
$129.1M
$1.44B
Research
Component
Auxiliary
Component
20%
12%
$292.2M
10/9/2003
$176.6M
Tuition Policy Advisory Committee
2
Academic Budget Over 30 Years
(in millions)
30 Years
1973/74
20 Years
1983/84
10 Years
1993/94
State GR Funding
$
68.6
$
190.5
$
219.6
$
291.8
Total ACADEMIC Budget
$
81.6
$
287.0
$
458.5
$
846.7
Percent State Funding
10/9/2003
84.1%
66.4%
Tuition Policy Advisory Committee
47.9%
Today
2003/04
34.5%
3
Facility Aging Drives Repair & Renovation (R&R)
Requirements
Gross Square Footage
There is a significant bubble of R&R requirements in the near future.
A substantial portion of the University’s Plant, those projects built in the 50’s
through 80’s, is approaching 30-60 years old and will require substantial
repair and renovation.
Total Facility Replacement Cost:
10/9/2003
Tuition Policy Advisory Committee
$ 2.1B
4
Annual Quality Funding Requirements
($ in Millions)
Operating
Budget Requirements
2003-04 2004-05
$
Repair & Renovation
Requirements
Capital Budget
Requirements
Total Annual Recurring
Funding Requirements
Academic Sustainability Tuition
Unmet Quality Needs
10/9/2003
$
-
$
55.8
2005-06
$
2006-07
2007-08
2008-09
86.8
$ 120.0
$ 153.9
$ 189.8
13.0
22.0
25.0
28.0
34.0
35.0
-
8.0
16.0
24.0
32.0
39.0
85.8
$ 127.8
$ 172.0
$ 219.9
$ 263.8
13.0
13.0
$
52.0
33.8
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Academic Sustainability Tuition
• Fixed increase amount for full-time students
• Prorated increase for part-time students
• Separate from legislative increases
• Includes associated financial aid increases
10/9/2003
Tuition Policy Advisory Committee
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Spring 2004 Academic Sustainability Tuition
SEM Credit Hrs
Undergraduate
Full-Time
Part-Time
Graduate
Full-Time
Part-Time
10/9/2003
SEMESTER INCREASE OVER FALL 03
Resident
Non-Resident
12+ Hours (Fixed)
361
397
8-11 Hours (Fixed)
1-7 Hours (Prorated)
1st Hour
Each Additional Hour
289
318
108
18
119
20
9+ Hours (Fixed)
361
397
1-8 Hours (Prorated)
1st Hour
All Other Hours
108
32
119
35
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Fall/Spring 2004-05 Academic Sustainability
Tuition
SEM Credit Hrs
Undergraduate
Full-Time
Part-Time
Graduate
Full-Time
Part-Time
10/9/2003
SEMESTER INCREASE OVER FALL 03
Resident
Non-Resident
12+ Hours (Fixed)
722
794
8-11 Hours (Fixed)
1-7 Hours (Prorated)
1st Hour
Each Additional Hour
578
636
217
36
238
40
9+ Hours (Fixed)
722
794
1-8 Hours (Prorated)
1st Hour
All Other Hours
217
63
238
70
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Average Cost of Education
Resident Full-Time
Spring 2004
Fall 04/Spring 05
$2,714
$2,714
$361
$722
Undergraduate
Current (15 SCH)
Academic Sustainability
Legislated $2/SCH Increase
Total
Growth over prior semester
$30
$3,075
$3,466
13.3%
12.7%
$2,146
$2,146
$361
$722
Graduate *
Current (9 SCH)
Academic Sustainability
Legislated $2/SCH Increase
Total
Growth over prior semester
$18
$2,507
$2,886
16.8%
15.1%
*Professional schools not included
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Tuition Policy Advisory Committee
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Financial Aid Grant Award for Academic
Sustainability Resident Undergraduate Tuition
Annual Income
Proposed Award
$0 - $40,000
100%
$40,001 - $60,000
75%
$60,001 - $80,000
50%
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Tuition Policy Advisory Committee
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