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2012-2013
Operating & CapitalBUDGET PLAN
MAY 2012
PUBLISHED BYThe Division of Planning and BudgetCornell University
CONTACT440 Day HallIthaca, New York 14853607-255-0155dpb.cornell.edu
DESIGNZanzinato
PHOTOGRAPHYColleen Anderson, Robert Barker/CU, Lindsay France/CU, Jason Koski/CU, University Photography
May 2012
Copyright © 2012 Cornell University. All rights reserved.
Additional copies of this document are available at:dpb.cornell.edu/FP_Current_Pubs.htm
Cornell University is an equal-opportunity,affirmative-action employer and educator.
2012–13
OPERATING AND CAPITALBUDGET PLAN2012–13
Contents
FROM THE VICE PRESIDENT................................
OPERATING BUDGET – HIGHLIGHTS ....................
Composite Operating Budget ........................................
Operating Budget Details................................................
Ithaca Campus Summary ...............................................
Ithaca Campus Detail.......................................................
Ithaca Campus College Plans.........................................
Weill Cornell Medical College Plan Detail ....................
CORNELLNYC TECH CAMPUS ..............................
BALANCING THE BUDGET AND THE CHANGING EDUCATIONAL COST AT CORNELL .....................
IMPLEMENTING ADMINISTRATIVE EFFICIENCIES
THE NEW BUDGET MODEL...................................
INSTITUTIONAL INTELLIGENCE...........................
CORNELL IN THE RANKINGS ................................
SPACE PLANNING – GUIDANCE AND UTILIZATION STUDY.................
CAPITAL PLAN – 2012-13 ......................................
Approved Capital Activity ...............................................
Sources and Uses of Capital Expenditures .................
Summary of External Debt Financing...........................
Debt Service by Operating Unit .....................................
Current Lease Commitmentsand Lease Extensions ......................................................
APPENDICES .............................................................
A Academic Year Tuitions............................................
B Student Fees and Other Tuition Rates...................
C Enrollment Assumptions..........................................
D Profile: Class of 2015.................................................
E Undergraduate Tuition and Fees, Room and
Board – Ivy League, Peer, and Common
Acceptance Institutions ...........................................
F Undergraduate Tuition and Fees – Selected
Public and Land-Grant Institutions.........................
Tuition and Fees – Selected Medical Colleges.....
G Average Nine-Month Faculty Salaries – Selected
Research Institutions ................................................
H Undergraduate Financial Aid ...................................
I New York State Appropriations...............................
J Facilities and Administrative Costs and Employee
Benefits Billing Rates ................................................
K Investment Assets, Returns, and Payouts ...........
L Endowment Market Value for Selected
Institutions ..................................................................
M Gifts/Contributions – Through March 31, 2012 ...
N Cornell Now Campaign – Through March 31, 2012
O Projected Maintenance Funding – Ithaca Campus
P Work Force - Ithaca Campus ...................................
Q Room and Board Rates – Ithaca Campus..............
R Ithaca Campus Faculty Peers by College..............
S Capital Project Spending Guidelines......................
T Guidelines for Space Needs Studies ......................
U Procedure for the Reallocation of Space ..............
V Space Management Principles................................
W Division Directory.......................................................
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Figure 1. FY 2012-13 Revenues
Figure 2. FY 2012-13 Expenditures
From the Vice President
TO THE CORNELL UNIVERSITYBOARD OF TRUSTEES
The Cornell University 2012-13 operating and capitalbudget plan contains detailed budgets for the two operating divisions of the university and a summarycapital plan. For the first time, the 2012-13 operatingbudget includes activity for the new CornellNYC Techcampus, shown within the Ithaca campus. While thenew campus will take shape over a few decades, initialplans for degree offerings are well underway.
Operating revenue is expected to increase by 3.2 percent for the Ithaca campus in 2012-13 and increaseby 7.9 percent for the Joan and Sanford I. Weill MedicalCollege and Graduate School of Medical Sciences (including the Weill Cornell Medical College in Qatar).Across the university, revenues are planned to increase5.1 percent from the current-year forecast, to $3.4 billion,and operating expenditures are expected to increase 3.3percent, to $3.4 billion. This growth reflects activityfor the faculty renewal program, the Qatar BiomedicalResearch Agreement, and new clinical offices in Manhattan. Figures 1 and 2 on the facing page providea functional overview of revenues and expenses.
After several difficult years of staff and expense reductions, the Ithaca campus structural budget willbe balanced by the end of 2012-13. We have collectivelyidentified predictable, recurring revenue to cover allpredictable, recurring expenses. In order to balancethe budget by year-end, the Ithaca campus is incor-porating an additional $16.1 million of expenditure reductions and reallocations in its fiscal 2012-13 budget.Units will continue to use operating fund balances tobridge and initiate important academic and adminis-trative priorities, including funding for capital projects.This budget contains over $53 million in fund balancetransfers.
Along with a balanced structural budget, the devel-opment of a coherent and transparent budget model,accurate and well managed information, and sound
guidance documents are all critical for the long-termhealth of the institution. To this end, important initiatives are underway in each of these three areas.
The new budget model and its underlying principleswill bring transparency and greater mutual under-standing to the Ithaca campus. This summer, the Division of Planning & Budget will work with deansand administrators across campus to recreate the2012-13 budget under the new budget model. This mockbudget will serve as a foundation for comparisons,discussion, and adjustments. Implementation of thenew model is planned for 2013-14.
In its mission to provide central, official, accurate,and unbiased information and analysis, InstitutionalResearch and Planning (IRP) has revamped its websiteto support planning, decision-making, and reportingobligations for the entire Ithaca campus. Recent re-ports and surveys include enrollment and graduationrate reports and the 2012 senior survey. One reporthighlighted on the new website “Profile: Class of2015” is also included in Appendix D.
Managing space is instrumental to optimizing the useof resources and advancing the priorities of the uni-versity. With this understanding, three new spaceguidance documents have been developed to defineprinciples of space management and provide guidanceon the reallocation of space. A campus-wide spaceutilization study will document the current use of non-residential space on campus to inform future decisions.
We are grateful for the commitment from our alumni,trustees, advisors, friends, faculty, staff and studentsbecause their support keeps us on the cutting edgeand makes these plans possible.
Elmira Mangum, PhD
Vice President for Planning and Budget
OVERVIEW
3
From the Vice P
resident
COMPOSITE OPERATING BUDGET
Cornell’s composite operating plan for 2012-13 is
based on the plans of its two main divisions: the
Ithaca campus and the Weill Medical College (with
campuses in New York City and Doha, Qatar). The
schedule on the facing page shows the overall univer-
sity plan, with summary and detail plans for each
campus immediately following.
ResourcesRevenues are projected at $3.4 billion, an increase of
5.1 percent from the 2011-12 forecast.
• Tuition and fee revenues are planned to increase 4.9percent, based on approved tuition rate increases.
• The net increase in investment/endowment distri-bution is expected to be 4.8 percent, primarily due
to the planned 4.5 percent increase in the Long
Term Investment Pool (LTIP) payout, from $2.20
to $2.30 per share.
• The combination of unrestricted and restrictedgifts for general operations is expected to increasefrom the 2011-12 forecast with the Ithaca campus
planning increases from the Cornell Now campaign
and faculty renewal which are partially offset by a
slight decline at Weill.
• Direct costs of grants and contracts for sponsoredprograms are expected to decrease 6.2 percent
and recoveries of facilities and administrativecosts related to those programs are projected to
decrease 3.4 percent. Qatar sponsored revenues is
planned to increase by 36.9 percent, reflecting
program support of the Qatar Biomedical Research
Agreement. Sponsored direct and facilities and
administrative recovery is planned in total at
$582.1 million.
• State appropriations are planned at $133.8 million.
This projection is considered to be final based on
projections provided by the State University of
New York (SUNY) and the New York State Execu-
tive Budget (See Appendix I for additional details
on state appropriations).
• Revenues from the Physician Organization are
projected to increase $67 million over the 2011-12
forecast due to the opening of new clinical offices in
Manhattan and the expansion of network physicians.
• Enterprise sales and services are projected to increase 5.5 percent, reflecting rate increases for
student housing and dining services.
Uses of Resources Expenditures are planned at $3.4 billion, an increase
of 3.3 percent from the forecast for 2011-12.
• Salaries, wages, and benefits are projected to increase $83.8 million or 4.7 percent, due to
compensation increases and new hires under
the faculty renewal program.
• Undergraduate financial aid is expected to
increase by $9.3 million or 4.1 percent over the
2011-12 forecast.
• Graduate and professional financial aid is pro-
jected to decrease by $6.1 million or 3.9 percent
from the 2011-12 forecast. This decrease is largely
the result of the decline in sponsored awards.
• General expenses are projected to decrease $11.6million or 1.4 percent from the forecast for 2011-12.
• Qatar expenses in support of the academic pro-
gram and research are expected to increase $29.0
million due to academic programs in Qatar and
the Biomedical Research Agreement.
• Other expenses, including capitalized equipment
and books, are projected to decrease $6.7 million
or 13.8 percent.
• Internal debt service is projected to increase $9.4million due to interest payments for the Belfer
Research Building.
Transfers To/From Fund BalancesNet transfers from operating funds are planned to
total $62.5 million, with $4.3 million transferred in
from funds functioning as endowment to support
operations, $120 million transferred to plant funds to
support non-debt financed capital project expendi-
tures and equipment renewal and replacement, and
$53.2 million transferred in from unit reserves to
support one-time expenditures.
4
Operating Budget — Highlights
Operating Budget - Highlights
5
Operating Budget —
Highligh
ts
Table 1: Composite Operating Budget (dollars in thousands)
Resources1. Tuition & Fees 786,781 821,047 836,453 877,316 40,863 4.9%
2. Investment/Endowment Distribution 288,707 282,712 287,437 301,130 13,693 4.8%
3. Unrestricted Gifts 60,422 52,732 52,565 69,348 16,783 31.9%
4. Restricted Gifts 126,634 103,784 104,831 117,892 13,061 12.5%
5. Sponsored Programs (Direct) 466,522 435,188 431,961 405,070 (26,891) -6.2%
6. Sponsored Programs (F&A) 144,855 136,622 136,789 132,095 (4,694) -3.4%
7. Sponsored Programs (Qatar) 25,379 54,247 32,779 44,889 12,110 36.9%
8. Institutional Allowances 33,432 36,330 34,063 37,389 3,326 9.8%
9. State Appropriations 145,999 132,652 132,652 133,774 1,122 0.8%
10. Federal Appropriations 18,014 19,367 19,367 19,409 42 0.2%
11. Physician Organization (PO) 577,512 648,007 663,909 730,865 66,956 10.1%
12. NYPH (Purchased Services) 99,267 98,391 99,615 100,359 744 0.7%
13. Enterprise Sales & Services 169,836 159,013 175,307 184,941 9,634 5.5%
14. Qatar Foundation 70,496 83,622 68,285 85,018 16,733 24.5%
15. Educational Activities and Other Sources 225,152 173,789 183,946 185,854 1,909 1.0%
16. Subtotal In-Year Revenues 3,239,008 3,237,503 3,259,959 3,425,349 165,390 5.1%
Uses of Resources17. Salaries & Wages (Including Benefits) 1,727,012 1,767,493 1,792,368 1,876,158 83,789 4.7%
18. Undergraduate Financial Aid 206,576 224,502 224,502 233,755 9,253 4.1%
19. Graduate Financial Aid 154,519 153,636 154,147 148,088 (6,059) -3.9%
20. General Expense 773,236 783,488 809,163 797,560 (11,603) -1.4%
21. Qatar 94,777 137,069 100,164 129,207 29,043 29.0%
22. Other Expenses 51,009 48,468 48,468 41,784 (6,684) -13.8%
23. University Cost Redistributions 0 0 0 0 0
24. Subtotal Expenditures 3,007,129 3,114,656 3,128,812 3,226,551 97,739 3.1%
25. Internal Expense on Taxable Debt 25,927 24,651 26,000 24,500 (1,500) -5.8%
26. Debt Service 110,200 98,540 99,022 109,966 10,944 11.1%
27. Subtotal Debt Repayment 136,127 123,191 125,022 134,466 9,444 7.6%
28. Net Before Transfers 95,752 (344) 6,125 64,332 58,208
Transfers (to)/from Fund Balances29. Endowment (11,830) 6,868 15,775 4,291 (11,484)
30. Plant/Project Support (56,915) (68,753) (66,153) (119,997) (53,844)
31. Reserves 0 64,145 64,145 53,216 (10,929)
32. Subtotal Transfers (68,745) 2,260 13,767 (62,491) (76,258)
33. Net from Operations 27,007 1,916 19,892 1,841 (18,051)
10-11Actual
11-12Budget
11-12Forecast
12-13Plan Dollars Percent
Change from Forecast to Plan
6
Operating Budget — Highlights
Table 2: Composite Operating Budget - by Division (dollars in thousands)
Resources1. Tuition & Fees 848,422 28,894 877,316 836,453 40,863 4.9%
2. Investment/Endowment Distribution 255,372 45,758 301,130 287,437 13,693 4.8%
3. Unrestricted Gifts 67,198 2,150 69,348 52,565 16,783 31.9%
4. Restricted Gifts 67,995 49,897 117,892 104,831 13,061 12.5%
5. Sponsored Programs (Direct) 280,381 124,689 405,070 431,961 (26,891) -6.2%
6. Sponsored Programs (F&A) 86,233 45,862 132,095 136,789 (4,694) -3.4%
7. Sponsored Programs (Qatar) 0 44,889 44,889 32,779 12,110 36.9%
8. Institutional Allowances 0 37,389 37,389 34,063 3,326 9.8%
9. State Appropriations 133,650 124 133,774 132,652 1,122 0.8%
10. Federal Appropriations 19,409 0 19,409 19,367 42 0.2%
11. Physician Organization (PO) 0 730,865 730,865 663,909 66,956 10.1%
12. NYPH (Purchased Services) 0 100,359 100,359 99,615 744 0.7%
13. Enterprise Sales & Services 144,472 40,469 184,941 175,307 9,634 5.5%
14. Qatar Foundation 0 85,018 85,018 68,285 16,733 24.5%
15. Educational Activities and Other Sources 129,493 56,362 185,854 183,946 1,909 1.0%
16. Subtotal In-Year Revenues 2,032,625 1,392,725 3,425,349 3,259,959 165,390 5.1%
Uses of Resources17. Salaries & Wages (Including Benefits) 1,088,650 787,508 1,876,158 1,792,368 83,789 4.7%
18. Undergraduate Financial Aid 233,755 0 233,755 224,502 9,253 4.1%
19. Graduate Financial Aid 128,745 19,343 148,088 154,147 (6,059) -3.9%
20. General Expense 379,449 418,111 797,560 809,163 (11,603) -1.4%
21. Qatar 0 129,207 129,207 100,164 29,043 29.0%
22. Other Expenses 41,784 0 41,784 48,468 (6,684) -13.8%
23. University Cost Redistributions (2,016) 2,016 0 0 0
24. Subtotal Expenditures 1,870,366 1,356,185 3,226,551 3,128,812 97,739 3.1%
25. Internal Expense on Taxable Debt 24,500 0 24,500 26,000 (1,500) -5.8%
26. Debt Service 76,524 33,442 109,966 99,022 10,944 11.1%
27. Subtotal Debt Repayment 101,024 33,442 134,466 125,022 9,444 7.6%
28. Net Before Transfers 61,235 3,098 64,332 6,125 58,208
Transfers (to)/from Fund Balances29. Endowment 4,291 0 4,291 15,775 (11,484)
30. Plant/Project Support (118,497) (1,500) (119,997) (66,153) (53,844)
31. Reserves 53,216 0 53,216 64,145 (10,929)
32. Subtotal Transfers (60,991) (1,500) (62,491) 13,767 (76,258)
33. Net from Operations 244 1,598 1,841 19,892 (18,051)
Ithaca Campus
Medical College
12-13 Plan
11-12 Forecast Dollars Percent
Change from Forecast to Plan
7
Operating
Plan —
Highlig
hts
“We are grateful for the commitment fromour alumni, trustees, advisors, friends, faculty, staff and students because theirsupport keeps us on the cutting edge andmakes these plans possible.”
8
Operating Budget — Details
ITHACA CAMPUS
ResourcesRevenues are planned at $2.0 billion, an increase of
3.2 percent from the 2011-12 forecast.
• Tuition and fee revenues are planned to increase
$40.4 million, or 5.0 percent, from the 2011-12
forecast based on increases in tuition rates for the
Ithaca campus (see Appendix A).
• Investment resources are projected to increase$11.1 million from the 2011-12 forecast. Distributions
from the Long Term Investment Pool payout will
increase by 4.5 percent (to $2.30 per unit share in
2012-13). Other planned investment activity in-
cludes a continued withdrawal of $35 million for
undergraduate financial aid and the retirement
of taxable debt.
• Unrestricted and restricted gifts to current
operations are anticipated to increase over 2011-12
projections, totaling $135.2 million, due to the
Cornell Now Campaign and continuation of the
faculty renewal program and other campus
initiatives.
• Sponsored program direct and facilities and administrative costs are projected to total $366.6million in 2012-13, a decrease of 7.0 percent from
the 2011-12 forecast. This decrease is attributable
in large part to a reduction in sponsored activity
in Arts & Sciences, Human Ecology, Veterinary
Medicine, and the Research Centers.
• State appropriations, including special purposeappropriations are planned at $133.7 million, re-
flecting a net increase of 0.8 percent from the
2011-12 forecast. This estimate includes some
additional funds for Veterinary Medicine and
Cooperative Extension and is considered to be
final based on the projections provided by the
State University of New York (SUNY) and the
New York State Department of Budget (see
Appendix I ).
Use of ResourcesExpenditures are planned at $2.0 billion, a decrease of
0.4 percent from the forecast for 2011-12.
• Salaries, wages, and benefits are projected to increase $35.2 million or 3.3 percent. This increase
is attributable to a planned three percent salary
improvement program, a one percent increase in
the endowed fringe benefit rate, and new hiring
under the faculty renewal program.
• Undergraduate financial aid is planned to increase
by $9.3 million or 4.1 percent over the 2011-12 fore-
cast due to the growth in tuition and its corollary
effect on financial aid.
• Graduate and professional financial aid is projected
to decline by $6.1 million or 4.5 percent from the
2011-12 forecast mainly due to the decline in spon-
sored support of graduate financial aid.
• General expenses are planned at $379.4 million,
showing a decrease of $35.1 million or 8.5 percent
from the 2011-12 forecast . Significant components
of the total plan include $93 million for sponsored
research activities; $103.7 million for utilities, rent,
and taxes; and $59.0 million for planned repair
and maintenance costs.
• Other expenses are projected to decrease by $6.7million from 2011-12. This category includes capi-
talized equipment and books.
• Internal debt service is planned to remain compa-
rable to the 2011-12 forecast. Internal expense on
taxable debt is planned at $24.5 million in accor-
dance with the planned repayment schedule for
$500 million of taxable debt secured in 2008-09.
Transfers To/From Fund Balances• Net transfers from operating funds are planned to
total $61.0 million, with $4.3 million transferred in
from funds functioning as endowment to support
operations, $118.5 million transferred to plant funds
to support non-debt financed capital project ex-
penditures and capitalized equipment, and $53.2
million transferred in from unit reserves to support
one-time expenditures. Major project activities
include Gates Hall, the Humanities building, and
various maintenance and infrastructure projects.
Operating Budget - Details
9
Operating Budget —
Details
Table 3: Ithaca Campus - Summary (dollars in thousands)
Resources1. Tuition & Fees 757,915 792,182 808,000 848,422 40,422 5.0%
2. Investment/Endowment Distribution 247,120 241,121 244,322 255,372 11,050 4.5%
3. Unrestricted Gifts 56,908 50,422 50,422 67,198 16,776 33.3%
4. Restricted Gifts 67,492 54,378 54,452 67,995 13,543 24.9%
5. Sponsored Programs (Direct) 329,990 305,475 305,475 280,381 (25,094) -8.2%
6. Sponsored Programs (F&A) 90,953 88,880 88,880 86,233 (2,647) -3.0%
8. State Appropriations 145,788 132,529 132,529 133,650 1,121 0.8%
9. Federal Appropriations 18,014 19,367 19,367 19,409 42 0.2%
10. Enterprise Sales & Services 132,656 135,738 135,738 144,472 8,734 6.4%
11. Educational Activities and Other Sources 175,147 129,687 129,687 129,493 (194) -0.1%
12. Subtotal In-Year Revenues 2,021,983 1,949,779 1,968,872 2,032,625 63,753 3.2%
Uses of Resources13. Salaries & Wages (Including Benefits) 1,022,788 1,053,428 1,053,428 1,088,650 35,221 3.3%
14. Undergraduate Financial Aid 206,576 224,502 224,502 233,755 9,253 4.1%
15. Graduate Financial Aid 134,120 134,853 134,853 128,745 (6,108) -4.5%
16. General Expense 409,451 397,314 414,575 379,449 (35,126) -8.5%
17. Other Expenses 51,009 48,468 48,468 41,784 (6,684) -13.8%
18. University Cost Redistributions (1,841) (1,896) (1,896) (2,016) (120) 6.3%
19. Subtotal Expenditures 1,822,103 1,856,669 1,873,930 1,870,366 (3,564) -0.2%
20. Internal Expense on Taxable Debt 25,927 24,651 26,000 24,500 (1,500) -5.8%
21. Debt Service 91,389 78,868 78,868 76,524 (2,344) -3.0%
22. Subtotal Debt Repayment 117,316 103,519 104,868 101,024 (3,844) -3.7%
23. Net before Transfers 82,564 (10,409) (9,927) 61,235 71,161
Transfers (to)/from Fund Balances24. Endowment (11,830) 4,892 15,775 4,291 (11,484)
25. Plant/Project Support (56,711) (66,153) (66,153) (118,497) (52,344)
26. Reserves 0 64,145 64,145 53,216 (10,929)
27. Subtotal Transfers (68,541) 2,884 13,767 (60,991) (74,758)
28. Net from Operations 14,023 (7,525) 3,840 244 (3,597)
10-11 Actual
11-12 Budget
11-12Forecast
12-13Plan Dollars Percent
Change fromForecast to Plan
Table 4: Ithaca Campus - Details (dollars in thousands)
Resources1. Tuition & Fees 414,491 137,985 6,043 285 24,628 44,446 55,518 35,645
2. Investment/Endowment Distribution 89,203 14,106 2,905 19,194 22,951 4,861 2,987 2,475
3. Unrestricted Gifts 14,006 8,955 690 5,846 3,208 1,865 1,181 1,751
4. Restricted Gifts 0 4,787 235 33,982 3,472 2,780 577 959
5. Sponsored Programs (Direct) 0 79,844 26 23,235 44,790 0 13,800 5,067
6. Sponsored Programs (F&A) 49,497 21,078 0 177 136 0 4,549 1,296
7. State Appropriations 14,658 47,021 0 0 0 100 6,065 8,129
8. Federal Appropriations 0 11,628 0 0 0 0 3,659 0
9. Enterprise Sales & Services 0 0 0 0 0 0 0 0
10. Educational Activities & Other Sources 4,604 17,311 1,455 1,783 697 18,429 1,644 9,129
11. Inter-Unit Transfers 36,371 (4,492) 710 (6,660) 359 (5,770) (2,106) (2,302)
12. General Purpose Allocations (821,802) 8,849 14,255 137,555 51,059 10 126 17
13. Total Resources (198,972) 347,072 26,320 215,396 151,300 66,720 88,000 62,166
Uses of Resources14. Salaries & Wages 0 152,021 13,379 111,533 74,324 26,667 39,286 28,965
15. Employee Benefits 0 11,838 3,892 33,168 20,964 8,918 2,911 1,512
16. Undergraduate Financial Aid 0 2,168 412 2,809 4,794 2,305 629 348
17. Graduate Financial Aid 0 13,873 2,742 20,024 18,112 264 9,629 2,831
18. General Expense 0 65,392 4,562 18,460 21,569 9,449 9,094 8,517
19. Purchased Services 0 1,535 1,072 1,401 833 1,832 1,845 2,186
20. Utilities, Rent & Taxes 0 3,949 263 45 57 1,239 543 128
21. Repairs & Maintenance 0 10,272 846 822 547 270 363 27
22. Capital Expense 0 4,367 0 2,504 3,137 1,192 204 493
23. Subtotal Expenditures 0 265,416 27,167 190,765 144,337 52,136 64,504 45,007
24. Accessory Instruction 1,416 3,566 0 0 0 (1,900) 1,469 712
25. Administrative & Support (CAM) (124,795) 49,668 0 0 0 8,253 12,331 9,595
26. Financial Aid (63,652) 36,949 0 0 0 6,143 12,202 8,307
27. Subtotal Cost Redistribution (187,031) 90,183 0 0 0 12,496 26,002 18,614
28. Internal Expense on Taxable Debt 24,500 0 0 0 0 0 0 0
29. Debt Service 0 451 809 0 0 2,063 317 202
30. Subtotal Debt Repayment 24,500 451 809 0 0 2,063 317 202
31. Net Expenditures (162,531) 356,049 27,976 190,765 144,337 66,695 90,823 63,824
32. Net Before Transfers (36,440) (8,977) (1,657) 24,632 6,964 25 (2,823) (1,657)
Transfers (to)/from Non-operating Support33. Endowment 0 (259) 0 310 77 0 0 0
34. Plant/Project Support 0 (32) (2,908) (33,000) (23,596) (3,000) 0 1,657
35. Reserves 0 9,268 4,565 8,058 16,556 2,975 2,823 0
36. Subtotal Transfers 0 8,977 1,657 (24,632) (6,964) (25) 2,823 1,657
37. Net from Operations (36,440) 0 0 0 0 0 0 0
10
Operating Budget — Details
GeneralPurposeBudget
Agriculture& Life
Sciences
ArchitectureArt &
PlanningArts &
Sciences Engineering Hotel AdminHumanEcology
Industrial& LaborRelations
11
Operating Budget —
Details
55,300 37,397 17,070 0 19,215 0 0 0 0 400 0 848,422
5,481 5,005 7,268 1,867 14,648 52,584 1,662 5,748 2,427 0 0 255,372
3,932 2,080 2,500 5 4,100 0 581 0 0 7,000 9,500 67,198
2,862 487 2,577 1,085 8,351 1,500 1,704 622 2,016 0 0 67,995
0 166 23,999 74,185 11,189 4,000 0 80 0 0 0 280,381
0 4 9,503 21 (47) 0 18 0 0 0 0 86,233
120 60 25,558 0 4,220 0 0 351 27,368 0 0 133,650
0 0 390 0 3,712 0 0 20 0 0 0 19,409
0 0 0 0 334 0 108,852 26,715 8,570 0 0 144,472
1,427 796 26,151 4,674 20,781 0 9,437 3,713 5,938 24 1,500 129,493
(6,407) (5,654) (4,405) 1,132 (25,912) (2,032) (13,730) 24,145 16,414 340 0 0
122 81 3,008 21,893 99,021 196,931 24,929 141,017 122,929 0 0 0
62,836 40,420 113,620 104,862 159,612 252,982 133,452 202,411 185,663 7,764 11,000 2,032,625
28,476 17,356 65,412 42,687 75,497 0 44,553 107,843 52,398 2,979 (6,800) 876,575
8,968 5,983 3,807 14,071 21,185 0 15,042 45,352 16,479 434 (2,448) 212,075
0 0 0 0 94 219,745 421 30 0 0 0 233,755
7,249 6,272 5,208 577 7,811 33,237 108 779 0 30 0 128,745
13,213 4,677 19,515 36,212 22,907 0 23,197 30,877 (93,187) 1,858 (16,436) 179,876
1,992 732 1,357 303 11,579 0 4,365 1,800 3,490 500 0 36,823
2,351 682 1,175 1,254 771 0 9,822 4,767 76,684 0 0 103,729
316 461 1,601 1,167 1,683 0 7,952 5,575 26,620 500 0 59,022
250 10 1,431 12,276 14,579 0 8 93 1,240 0 0 41,784
62,815 36,172 99,504 108,547 156,106 252,982 105,469 197,114 83,724 6,301 (25,684) 1,872,382
(4,806) (456) 0 0 0 0 0 0 0 0 0 0
6,470 4,826 14,401 0 47 0 7,284 2,653 7,251 0 0 (2,016)
0 0 50 0 0 0 0 0 0 0 0 0
1,664 4,370 14,451 0 47 0 7,284 2,653 7,251 0 0 (2,016)
0 0 0 0 0 0 0 0 0 0 0 24,500
612 0 1,629 0 935 0 18,485 1,289 49,733 0 0 76,524
612 0 1,629 0 935 0 18,485 1,289 49,733 0 0 101,024
65,091 40,542 115,584 108,547 157,088 252,982 131,237 201,056 140,709 6,301 (25,684) 1,971,390
(2,255) (121) (1,964) (3,686) 2,524 0 2,214 1,355 44,955 1,463 36,684 61,235
3,102 0 422 0 (510) 0 1,150 0 0 0 0 4,291
(1,000) (13) (565) (294) (2,729) 0 (3,584) (511) (47,799) (1,123) 0 (118,497)
153 134 2,108 3,980 715 0 220 (844) 2,844 (340) 0 53,216
2,255 121 1,964 3,686 (2,524) 0 (2,214) (1,355) (44,955) (1,463) 0 (60,991)
0 0 0 0 0 0 0 0 0 0 36,684 244
JohnsonSchool
Law School
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ITHACA CAMPUS COLLEGE PLANS
College of Agriculture and Life SciencesThe College of Agriculture and Life Sciences (CALS)
exists as an international leader in diverse fields due
to the excellent research, extension, and education
work being done by our faculty, staff, and students.
Thanks to their combined efforts we are able to:
• Advance knowledge of the unity and diversity
of life;
• Impart to our students a world-class education
and passion for life-long learning and discovery;
• Promote wise stewardship of the environment
and natural resources and create economical,
sustainable energy strategies;
• Develop agricultural systems to establish and
maintain safe, nutritious food supplies for current
and future generations, and;
• Foster economic vitality and individual and
community health and well-being.
CALS initiatives strive to establish sustainable soci-
eties in order to meet the demands presented by a
changing climate and rapidly shifting social landscape.
Leveraging the expertise available in CALS we are
able to provide technological, political, economic,
and social insights into creative solutions for the
challenges facing current and future generations the
world over.
These aims are supported with our broad curriculum
and research opportunities, opportunities that are in-
formed by the college’s commitment to advancing the
land grant mission. The synergistic integration of social
and life sciences, combined with fundamental and
applied disciplines, has created in CALS an institution
able to effect real change in the global community.
CALS unique curriculum and opportunities for applied
learning foster in our students a sense of global, civic
responsibility and teach valuable leadership skills.
Through CALS extension and outreach programs our
students directly engage with the public at a local and
global scale, allowing them to directly experience the
benefits of the research to which they contribute.
Through this commitment to creating the leaders of
the future, CALS continues to promote our core val-
ues in a way that ensures they will be cherished and
upheld by future generations of scholars.
CALS continues to invest in the future through large
scale building projects, like the Food Science Stocking
Hall renovation, and by providing relevant courses of
study. The newly christened Charles H. Dyson School
of Applied Economics and Management, as well as
the Marine Biology concentration and Viticulture
and Enology program, demonstrate the emphasis
being made by the college to offer exciting and
unique opportunities for faculty and students alike.
Programs like the CALS Faculty Renewal Initiative
demonstrate our commitment to maintaining a
proper strategic alignment between our extension,
instruction, and research priorities, and to upholding
the progressive mission of the college. As we continue
to engage stakeholders about how best to continue our
mission of providing excellent education, research,
and extension services we do so while looking to the
future while engaging with the present and honoring
the past.
Architecture, Art and PlanningThe faculty of the College of Architecture, Art, and
Planning (AAP) teach and practice architecture, fine
arts, and city and regional planning as creative and
powerful forces in a rapidly urbanized world. Students
are prepared to address the complex problems of the
twenty-first century through the application of the
art and science of design. The college is focused on
building synergies among departments and courting
partnerships with cognate units to advance a more
coherent, design-centric identity.
In FY12, the college welcomed three outstanding new
faculty, including the first Richard Meier assistant
professor. Five ongoing searches will bring additional
talent to AAP in FY13. Current searches include the
newly endowed Tafel Professor.
FY12 marks the first year of operation of Milstein
Hall. The college is energized, and the effect is trans-
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Operating Budget — Details
formative. The college is now focused on expansion
of its analog and digital fabrication facilities and on
the refurbishment of the Fine Arts Library.
Arts & SciencesThe College of Arts and Sciences (CAS) remains
dedicated to providing an undergraduate education
characterized by breadth and depth of study with the
latitude to shape an individualized curriculum. We
also strive to prepare future leaders in intellectual
disciplines through high quality graduate education.
Among faculty and students alike, we promote re-
search and artistic endeavors that advance our un-
derstanding of the natural, physical, social and
cultural worlds. We offer 42 majors to 4,100 under-
graduate students, and we mentor 1,500 students
pursuing graduate degrees.
Faculty renewal will continue as our highest priority,
and the FY13 budget continues to focus new resources,
anticipating generous donor commitments totaling
between $2 and $3 million, to assist in hiring new fac-
ulty. In FY13, the college’s goal is to hire up to 35 new
faculty members, 28 of which reflect normal CAS
annual hiring goals, with plans to recruit another five
to seven in advance of future vacancies. Increased
faculty hiring brings added pressures on our facilities,
and we are pleased that design work is progressing for
the new Humanities building – a much needed facility
for our humanities departments funded completely
with philanthropic funds. The estimated $61 million
have all been pledged and construction is slated to
begin during the summer of 2013.
EngineeringThe College of Engineering, ranked among the top ten
for decades, has the aspiration to be widely recog-
nized as one of the top five engineering colleges by
impacting major challenges facing the world, and
through producing leaders who will take the world
in new directions, solve problems, and create new
opportunities. Currently, a college-wide strategic
planning process is examining all aspects of the
research and education missions of the college. The
goal is to bring together department and college plans
so that faculty hiring aligns with the college-wide
goals. Additionally, the plan will take into account
the CornellNYC Tech campus.
The College enrolls almost 3,000 undergraduate and
1,600 graduate students. Enrollment in the Masters
of Engineering (M.Eng) program has significantly
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increased in the past three years, offsetting budget
reductions in areas such as university support and
investment income. M.Eng enrollment in 2012-13 will
be comparable to 2011-12 levels.
In 2012-13, Engineering plans to conduct approximately
14 searches for tenure-track faculty simply to maintain
the current faculty size. Faculty renewal is one of the
critical challenges/opportunities facing the college
due to the stiff, and growing competition from other
institutions that are increasingly recovering from
the economic downturn. Furthermore, competitive
startup packages continue to grow, putting pressure on
budgets; the Faculty Renewal Fund has been essential
for allowing us to hire aggressively at this time. On
the other hand, hiring enables us to renew the faculty
while shifting the focus of the college towards strategic
areas in which Cornell brings unique capabilities to
impact the world.
The CornellNYC Tech campus is a game changer for
the college, university, and for the New York City
economy. Well in advance of the competition, Engi-
neering identified increasing commercialization of
Cornell technology as a strategic goal for the college.
The Tech campus will dramatically increase the
scale and scope of these activities. Faculty hired to
staff the CornellNYC Tech campus, with their added
focus on commercialization, will add to the prestige
of the college and the university.
In order to continue to provide critical services, the
college continues development of existing service
centers and the completion of the IT Service Group.
Engineering continues to partner with the Faculty of
Computing and Information Science (CIS) to properly
scale the delivery of efficient and excellent services
while meeting budget targets. In addition, the college
has invested in staff support for the strategically
important areas of research administration and
communication.
Due to the construction pause, the college’s compre-
hensive master plan is on hold until resources are in
hand to complete the needed facility expansion. A
college-wide space study was completed to identify
less costly renovation options to make more effective
use of current space. Based on this plan we are be-
ginning significant renovations aligned with strategic
priorities. Planned college surplus and existing re-
serves have been earmarked for significant facilities
project renovations based on results of the space
study and new faculty startup needs.
Hotel AdministrationOver the past four years, the School of Hotel
Administration (SHA) has experienced dramatically
increased giving from alumni and industry partners.
SHA continues to serve as the preeminent program
in hospitality education. The school has continued to
expand the knowledge base of hospitality research
and our graduates continue to take on positions of
senior leadership around the globe. The school has
continued to hire research faculty from top business
schools and attract the best and brightest students
from around the globe who are passionate about
hospitality leadership.
To broaden the academic disciplines available to our
students, the school continues to strengthen its ties
to other schools and colleges on the Ithaca campus.
Beginning July 1, 2012, Cornell’s Program in Real Es-
tate will be lead by the Deans of the School of Hotel
Administration and the College of Architecture Art
and Planning. Combining the academic expertise in
City and Regional Planning with SHA’s faculty in
Real Estate and Finance will provide greater support
for this already outstanding program. The school’s
minor in Real Estate continues to grow and has over
170 students enrolled from all seven undergraduate
colleges. Our partnership with the School of Industrial
and Labor Relations (ILR) continues to deepen as we
now have a joint professorship in Hospitality Human
Resources thanks to a gift from John and Melissa
Ceriale. The schools are working together to develop
a new institute in hospitality labor law. Our partner-
ship with the Sloan Program, focusing on Senior
Living, continues to thrive.
Adapting to the changes in library science and the
ever increasing use of portable technologies, the
school will complete the renovation of its original
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Operating Budget — Details
library and student lounge. Funded, in part, by a $3
million gift from the Marriott Foundation, the school
will create the new Marriott Student Learning Center.
This renovation, which will be completed in the
summer of 2012, will see the school’s book collection
relocated to the Catherwood Library as part of our
three school library consolidation, with the ILR and
Johnson schools. The reclaimed space will provide a
number of new group meeting spaces, as well as
quiet study space. The library staff that will remain
in the learning center will focus on assisting students
and faculty with access to digital resources.
Tremendous support from SHA alumni and industry
partners has made it possible for the school to con-
tinue to grow and evolve during these difficult finan-
cial times. The 2012 fiscal year will mark a new
milestone in our fundraising efforts with alumni and
corporate giving exceeding $17 million.
Donor support and continued cost controls in both
the school and the Statler Hotel will be needed as we
continue to work through the development of the
university’s new budget model. We are hopeful that
through greater collaboration and transparency both
the school and the university will benefit from these
new financial models.
College of Human EcologyThe College of Human Ecology (CHE) continues to
invest in faculty renewal and strategic programming.
Academic year 2012 saw the arrival of a number of new
faculty hires in fields of economics, sociology, psy-
chology, nutrition, and fiber science. These faculty
will fill vacancies created through retirement and at-
trition and renew our threefold academic mission of
education, research and outreach. The opening of the
new Human Ecology Building, the inauguration of
the Bronfenbrenner Translational Research Center,
and the establishment of the Institute for Health Eco-
nomics, Health Behaviors and Disparities Institute
are all examples of historic program investments and
achievements of the college over the last year.
In the coming year the college will continue faculty
renewal efforts in design, policy and nutritional
sciences. The college will also continue with the
planned phases of the comprehensive renovation of
the MVR ’33 building which will include the con-
struction and commissioning of an MRI research fa-
cility in support of college neuroscience programming
and broader university imaging needs. Additionally,
the college is planning to engage in programming for
the CornellNYC Tech campus with our expertise in
the built environment, healthy living, and integration
of CHE NYC extension office programs with the
broader university presence in the city.
In this environment of investment and renewal, the
college will continue to prioritize program needs and
carefully review the impact of the proposed budget
models.
Industrial & Labor RelationsOver the past several years, the ILR School has par-
ticipated actively in cross-college initiatives. Specifi-
cally, ILR is helping to lead the convergence of the
University Economics Department, it is hosting the
Institute for Social Sciences within Ives Hall, and it
is hosting the three-school library consolidation that
includes Johnson, Hotel, and ILR. Furthermore, it has
led the consolidation of the Financial Transaction
Centers, and it was the first school to share an HR
Director with another school.
The School’s future financial strength is based on
continuing to grow executive education, sponsored
research, fundraising, and the successful launch of
the executive Master of Professional Studies (MPS)
degree, which will be based on a blended learning
platform in conjunction with eCornell.
Law SchoolCornell Law School is one of the top law schools in the
country, combining inspiring theoretical, doctrinal,
and experiential teaching with cutting-edge scholar-
ship in a supportive, intellectually rich community.
The Law School’s graduates achieve excellence in all
facets of the legal profession.
Cornell Law School is consistently recognized for the
quality of its faculty, both in scholarly productivity
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and influence. Faculty renewal and growth continue
to be a priority. In 2011-12, the Law School welcomed
three new faculty members and currently employs 52
full time professorial positions.
Cornell Law School is intentionally among the small-
est of the elite law schools, and this remains a defin-
ing feature. In 2011-12, the school maintained an
enrollment of 593 professional degree students and
86 graduate students, as well as 25 exchange students.
In 2012-13, enrollment is expected to remain consistent
with recent years.
The Law School continues to build on its core
strength in International and Comparative Law. In
2011-12, the school welcomed an endowed chair in
Chinese Law and the ten year anniversary of the
Clarke Program in East Asian Law and Culture,
which also launched Meridian 180 – an innovative
think tank for Trans-Pacific relations. Cornell Law
established relationships with prominent law schools
in Chile, China, India, and Norway, expanding ex-
change opportunities to 22 schools worldwide. The
Law School anticipates further expansion of interna-
tional exchange opportunities and plans to add more
foreign law visitors, as well as international and
comparative law scholars to the permanent faculty.
The Law School is expanding its business law offer-
ings through the Clarke Business Law Institute (BLI),
as well as the dual J.D./M.B.A. program with the
Johnson School. The Law School recently appointed
the first endowed professorship of the BLI and
continues plans for growth.
Cornell’s Legal Information Institute (LII), the
preeminent conveyor of web-based legal information
in the world, and consistently the most visited site
within all of Cornell University’s Web properties,
will celebrate its twentieth anniversary in 2012. In
October, the Law School will host the Law Via the
Internet Conference, an international conference
being held for the first time in the U.S. that is expected
to attract more than 500 registrants from other LIIs
around the globe.
Under the direction of Professor John Blume, the
Law School is expanding clinical, advocacy, and skills
programs, and welcomed the new LGBT Clinic in
2012. The Law School expects to see continued en-
hancement and coordination of clinics and other
skills initiatives.
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Cornell Law School will break ground in the summer
of 2012 on Phase 1 of a three-phased, multi-year
building and renovation project. This initial phase
will add more classrooms, refocus the use of the
Purcell Courtyard, and add an accessible entrance to
the College Avenue side of Myron Taylor Hall. The
new wing will be built under the lawn panel between
Anabel Taylor Hall and Myron Taylor Hall off the
east side of Purcell Courtyard. It will house a lobby
and three state-of-the-art classrooms. The new en-
trance on College Avenue will serve as a clearly rec-
ognizable main entry point to Myron Taylor Hall and
also “reach out” to the rest of the university.
Samuel Curtis Johnson Graduate Schoolof ManagementThe Samuel Curtis Johnson Graduate School of
Management’s mission is to develop business leaders
who create, transform and sustain successful organiza-
tions around the world, generate research and scholar-
ship that shape the future practice of management, and
train the next generation of business scholars.
Beginning July 1, 2012, Soumitra Dutta will begin
leadership of the Johnson School. Professor Dutta
was the Roland Berger Chaired Professor in Business
and Technology and founder and faculty director of a
new media and technology innovation lab at INSEAD
in Fontainebleau, France. He will be the School’s
eleventh dean.
In FY13, the Johnson School will continue to make
critical investments in faculty and programs to
further globalize the school, strengthen our centers
and institutes, deepen our connections to business,
and recruit the faculty of the future.
We also expect to make additional investments in
new strategic initiatives, including the launching of
the Accelerated (one-year) MBA program on the
CornellNYC Tech campus and growing the executive
education business.
Veterinary MedicineThe College of Veterinary Medicine remains the top
ranked veterinary school in the nation. This ranking
reflects the college’s outstanding faculty, outstanding
research base, and innovative “hands on” teaching
programs.
The college has begun a class expansion initiative to
increase enrollment and to gain some financial sta-
bility. The entering class size was modestly expanded
to 102 students beginning in the fall of 2011. The long-
term enrollment target is an entering class size of 120.
A facility design effort is beginning later this spring
to accommodate this growth.
Significant progress has been made in the develop-
ment of a genomic center based on whole genome
association mapping. This is an important collabora-
tion between the Veterinary College and the Cornell
Center for Comparative and Population Genomics.
Collaborative efforts between College and Weill Cor-
nell Medical College faculty are being pursued in
cancer biology, vascular biology, and infectious dis-
ease/immunology, including plans for joint scientific
retreats and training grants.
The College is expanding its impact globally. The
Cornell China Dairy Institute is a successful 4 week
collaborative program between the college and a pri-
vate dairy near Beijing. Revenue from this program
supports an Ithaca based Summer Dairy Institute, a
food animal medical externship, and a feedlot health
rotation for DVM students. The College is continu-
ing its collaboration with the City University of Hong
Kong to assist in the establishment of a proposed
School of Veterinary Medicine at City University.
Construction of a new teaching dairy will be com-
pleted in the summer of 2012. This facility will replace
facilities demolished during the construction of the
new NYS Veterinary Diagnostic Laboratory.
A for-profit clinical operation (CUVS) was opened in
Stamford, Connecticut in 2011. The first year of oper-
ation has been very encouraging as the operation is
nearing a stable break-even status. The college is op-
timistic that this operation will generate unrestricted
revenue for the college in the future.
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Operating Budget — Details
WEILL CORNELL MEDICAL COLLEGE
Resources Resources for the Weill Cornell Medical College and
Weill Cornell Graduate School of Medical Sciences
for 2012-13 are projected to reach $1,392.7 million, an
increase of 7.9 percent or $101.6 million over the
forecast for 2011-12.
• Tuition and fees are budgeted at $28.9 million, an
increase of $0.4 million, or 1.5 percent, from the
forecast. Tuition at the Medical School will in-
crease by 2.5 percent to $47,150. Graduate School
tuition will increase by 3 percent to $30,160.
• Restricted gifts are expected to total $49.9 million,
a decrease of 1.0 percent or $0.5 million from the
2011-12 year forecast. The plan includes anticipated
gifts to be received to support strategic plan
operating programs.
• Direct costs of sponsored programs are planned
to decrease 1.4 percent, or $1.8 million from the
2011-12 forecast, to $124.7 million. The plan includes a
2.0 percent growth in current NIH support offset by
the completion of funding from the American Re-
covery and Reinvestment Act of 2009. Recoveries
for facilities and administrative costs (F&A) from
sponsored programs are also expected to decline
in conjunction with the direct costs. The federal
indirect cost recovery rate will stay at 69 percent.
• Sponsored programs (Qatar) will increase $12.1
million or 36.9 percent, reflecting program support
of the Qatar Biomedical Research Agreement.
• Revenues from the Physician Organization (PO)
are planned at $730.9 million, a $67.0 million or
10.1 percent increase from the 2011-12 forecast. This
plan includes the opening of clinical offices in the
Upper West Side of Manhattan and the planned
expansion of the college’s network physicians.
• Revenues for services purchased by the New York
Presbyterian Hospital (NYPH) are expected to
total $100.4 million, $0.7 million greater than the
forecast. These services include professional
costs related to hospital services and supervision
and training of NYPH residents.
• Funding from the Qatar Foundation reflects support
of $85.0 million to operate the academic program
in the Weill Medical School in Qatar.
Use of ResourcesFor the fiscal 2012-13 plan, expenditures are expected
to total $1,389.6 million, an increase of 9.0 percent, or
$114.6 million over the 2011-12 forecast. Highlights
include: (a) $65.7 million increase in clinical programs
covering the Physician Organization and services
provided to New York Presbyterian, (b) decline of
$1.6 million in research expenditures due to the
completion of ARRA funding, and (c) $29.0 million
increase in funding for the Qatar Academic and
Research Programs.
• Plan expenditures for salaries and wages including
benefits are expected to grow 6.6 percent or $48.6
million from the forecast. The majority of the
growth is due to increases in compensation pay-
ments to faculty resulting from clinical activities.
The plan also includes a 3 percent increase in the
merit award program for faculty and staff.
• Graduate financial aid costs totaling $19.3 million
include financial aid support for the Medical
School, Tri-Institutional MD/PhD, and Graduate
School programs.
• General expenses totaling $418.1 million are pro-
jected to increase $23.5 million, or 6.0 percent from
2011-12. These costs include rent, facility costs,
insurance, and laboratory supplies as well as
routine operating supplies.
• Qatar expenses include two components: expenses
related to the academic program in Qatar and the
research expenses of the Biomedical Research
Agreement. The plan is expected to increase 29
percent or $29.0 million to $129.2 million.
• Annual debt service payments totaling $33.4 mil-
lion are budgeted to increase by $13.3 million as a
result of interest payments on the bond issuance
for the Belfer Research Building.
Transfers To/From Fund BalancesTransfers to plant funds totaling $1.5 million are pro-
jected for capital acquisitions and renovations by the
Physician Organization.
Net from OperationsThe fiscal 2012-13 budget for the Medical College will
result in a net from operations of $1.6 million.
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Table 5: Medical College (dollars in thousands)
Resources1. Tuition & Fees 28,866 28,865 28,453 28,894 441 1.5%
2. Investment/Endowment Distribution 41,587 41,591 43,115 45,758 2,643 6.1%
3. Unrestricted Gifts 3,514 2,310 2,143 2,150 7 0.3%
4. Restricted Gifts 59,142 49,406 50,380 49,897 (483) -1.0%
5. Sponsored Programs (Direct) 136,532 129,713 126,486 124,689 (1,797) -1.4%
6. Sponsored Programs (F&A) 53,902 47,742 47,909 45,862 (2,047) -4.3%
7. Sponsored Programs (Qatar) 25,379 54,247 32,779 44,889 12,110 36.9%
8. Institutional Allowances 33,432 36,330 34,063 37,389 3,326 9.8%
9. State Appropriations 211 123 123 124 1 0.8%
10. Physician Organization (PO) 577,512 648,007 663,909 730,865 66,956 10.1%
11. NYPH (Purchased Services) 99,267 98,391 99,615 100,359 744 0.7%
12. Enterprise Sales & Services 37,180 23,275 39,569 40,469 900 2.3%
13. Qatar Foundation 70,496 83,622 68,285 85,018 16,733 24.5%
14. Educational Activities and Other Sources 50,005 44,102 54,259 56,362 2,103 3.9%
15. Subtotal In-Year Revenues 1,217,025 1,287,724 1,291,088 1,392,725 101,637 7.9%
Uses of Resources16. Salaries & Wages (Including Benefits) 704,224 714,065 738,940 787,508 48,568 6.6%
17. Graduate Financial Aid 20,399 18,783 19,294 19,343 49 0.3%
18. General Expense 363,785 386,174 394,588 418,111 23,523 6.0%
19. Qatar 94,777 137,069 100,164 129,207 29,043 29.0%
20. University Cost Redistributions 1,841 1,896 1,896 2,016 120 6.3%
21. Subtotal Expenditures 1,185,026 1,257,987 1,254,882 1,356,185 101,303 8.1%
22. Debt Repayment 18,811 19,672 20,154 33,442 13,288 65.9%
23. Net Before Transfers 13,188 10,065 16,052 3,098 (12,954) -80.7%
Transfers (to)/from Fund Balances24. Endowment 0 1,976 0 0 0
25. Plant/Project Support (204) (2,600) 0 (1,500) (1,500)
26. Subtotal Transfers (204) (624) 0 (1,500) (1,500)
27. Net from Operations 12,984 9,441 16,052 1,598 (14,454)
10-11 Actual
11-12 Budget
11-12Forecast
12-13Plan Dollars Percent
Change from Forecast to Plan
20
CornellNYC Tech Campus
In December 2011, Cornell won an intensely fought
competition to build an applied sciences and engi-
neering campus in New York City. As winners of the
competition, Cornell will receive over 10 acres of
land on Roosevelt Island in Manhattan as well as
$100 million in financial support to create a world-
class campus in the heart of New York City. In addi-
tion to support from the city, Cornell received its
largest single gift ever - $350 million - from The At-
lantic Philanthropies and its founding chairman,
Chuck Feeney '56. This extraordinary support will
fund the initial phase of campus development and
will support the first several years of programming.
CornellNYC Tech, which pairs Cornell with its
partner, Technion-Israel Institute of Technology, will
have an economic development and entrepreneurship-
oriented curriculum aimed at turning the best ideas
of faculty and graduate students into new technologies
and commercial applications. Combining two of the
world's top institutions in science, engineering, and
technology, CornellNYC Tech will increase New
York City's capacity for applied sciences and help
transform the city's economy.
CAMPUS PLANNINGWhile the Roosevelt Island campus is being designed
and built, program activities will take place in tem-
porary space. This space will be home to teaching
and research activities from 2012-2017. The faculty,
staff, and student populations will grow over time, so
by the time the Roosevelt Island campus opens in 2017,
there will be several hundred students, faculty, and
staff involved with the campus. Those populations
will grow to several thousand by 2043.
CornellNYC Tech Campus
21
CornellN
YC Tech Campus
The physical campus will be built out over a period
of approximately 25 years. Phase 1, which includes a
150,000 square foot academic building and a partner
research and development building of the same size,
will open in 2017. A residence unit and academic con-
ference center/hotel are also slated for construction
between 2017 and 2024. When construction is complete
in 2037, there will be approximately 2 million square
feet built out on the campus.
The plan specifies that Cornell will develop the aca-
demic buildings, but that third-party developers will
build the remaining structures on campus. Cornell is
demonstrating its commitment to sustainability by
pledging that the overall campus will achieve a mini-
mum LEED silver rating and is additionally striving to
make the iconic Phase 1 academic building “net-zero.”
ACADEMIC PROGRAMSStudents will learn and companies will grow in an
environment that breaks with the traditional structure
of academic departments and schools. Organized
around multi-disciplinary research “hubs,” CornellNYC
Tech will bring together technologists, designers, social
scientists, and humanists, and encourage collabora-
tion among academics and leading creators and users
of technology in the commercial, educational, and
cultural realms. The three initial hubs will focus on
Connective Media, Healthier Life, and the Built Envi-
ronment – areas that are particularly well suited to
tie in with departments in Ithaca and with the tech
sector in New York City.
The faculty at CornellNYC Tech will be a mix of
professorial faculty, primarily in technical disci-
plines, and non-professorial faculty who have distin-
guished themselves in the development and use of
technology in the commercial sector or for the bet-
terment of society. Tenure-track Cornell faculty at
the campus will be hired through searches conducted
with the departments on the Ithaca or Weill Cornell
Medical College campuses, and each faculty member’s
tenure will rest with that home department.
CornellNYC Tech will offer graduate degrees in
technology and related business programs, broadened
by requirements for students to take courses outside
of their disciplines to complement and contextualize
the core material. Each student will have an industry
mentor (in addition to a faculty advisor) who will
provide advice on the student's project work.
Initial plans for degree offerings are focused on one-
year professional masters programs, including an
MEng in Computer Science, MEng in Electrical and
Computer Engineering, MPS in Information Science,
and MEng in Operations Research and Information
Engineering. An accelerated MBA for students with
technical backgrounds will be offered partly in Ithaca
and partly at CornellNYC Tech. All of these degree
programs will be offered by current graduate fields,
schools, and departments. The overall degree re-
quirements for these initial degree programs are
generally the same as for the existing programs in
Ithaca, although there will be some constraints on
electives, and the masters projects will be required
to have industry relevance.
A new two-year masters program offering a dual
degree with the Technion is also planned. This pro-
gram will combine technical depth with breadth in
one of the interdisciplinary hubs, including a sub-
stantive project that allows the students to apply their
technical knowledge to a domain-specific problem.
This novel curriculum and approach will address a key
limitation of current masters programs in technology
fields, where graduates are well trained in the tech-
nology itself but lack the ability to apply it in a
particular domain.
Like many peer universities across the country that
are encountering challenges resulting from the eco-
nomic crisis, Cornell engaged in a multi-year strat-
egy to eliminate its deficit. Academic and
administrative units tapped nonrecurring sources to
bridge operations and smooth the impacts during
this period. The planning that followed has resulted
in a renewed focus on administrative cost reductions
and a change in service models. Figures 3 and 4
highlight the leadership decisions that were taken
during this period and how these decisions were im-
plemented across the three major organizational
strata (colleges, academic support units, and admin-
istration). The prime objectives were to protect
instruction and the research mission and enhance
global public engagement while delivering quality
services. These decisions reflect the forces shaping
the decade ahead – technology and communications,
inclusion and diversity, and the funding/budget model.
With the actions planned for FY2012-13, the struc-
tural budget will be balanced by June 30, 2013. That
is, we have identified predictable, recurring revenue
to cover all predictable, recurring expenses. Overall,
the annual operating budget at Ithaca is relatively flat
compared to four years ago. The budget plan was $1.9
billion in 2008-09 before the economic recession and
current plans indicate an operating budget of $2.0
billion in 2012-13. The $172.5 million sweep of fund
balances and the $201.2 million reduction in existing
operations ($45.8 million by New York State) have re-
sulted in a leaner administrative organization. Equally
important have been the increases in revenue gained
through alumni support in the annual giving program,
the recovery of the endowment, and increases to
tuition and fees each year.
The consolidated operating budget is realigned to
ensure that resources are being directed to address
22
Ba
lan
cin
g th
e B
ud
get
Balancing the Budget and the Changing Educational Cost at Cornell
Figure 3. Non-Recurring Reductions to Unit Fund Balances(dollars in millions)
2009 $15.4 $5.9 $53.7
2010 23.5 23.0 51.0
Total $38.9 $28.9 $104.7 $172.5
CollegesAcademic
Support Units Administration Total
23
Ba
lan
cing th
e Bu
dget
Figure 4. Total Recurring Reductions by Year(dollars in millions)
2009 $10.7 - $1.0 $11.7
2010 31.3 13.7 15.1 60.1
2011 25.1 10.6 47.0 82.7
2012 16.1 3.3 11.2 30.6
2013 7.9 5.5 2.7 16.1
Total $91.1 $33.1 $77.0 $201.2
CollegesAcademic
Support Units TotalAdministrationReductions by Year and Organization Strata
the strategic priorities. Several strategic initiatives to
manage behavior through policy development and
implementation also contributed to this outcome.
The strategies included a staff retirement incentive
program, layoffs, hiring freezes, a reduction in unit
reserves to pay off long-term debt, a moratorium on
new debt, reduced central commitments, and discre-
tionary base budget reductions that include ongoing
assessments to enterprise units.
The current budget reflects major changes to the
financial aid program, continued investment in re-
search compliance, administrative system upgrades,
debt restructuring, organizational restructuring,
early retirement incentive programs, a reduction in
major construction activity, and changes to federal
and state funding.
During this period of budget realignment, the issues
of access and quality remained a concern. Cornell
took aggressive actions to continue to increase access
to higher education and to maintain its need-blind
admissions. Student needs increased greatly and were
met with expanded grant and aid programs, including
reduced loans. Decisions to change service models,
downsize staff, initiate an aggressive faculty renewal
program and increase tuition were influenced by sev-
eral major forces: 1) little or no growth in state and
federal aid programs; 2) increased demand in need-
based aid; 3) volatile market conditions; 4) increased
compliance requirements; and 5) the desire to expand
programs internationally.
The operating principles of no new debt, and no
increased cost without increased revenue helped to
stabilize the consolidated operating budget while we
continue to engage the community in efforts to redesign
the budget and funding models. Table 6 below provides
a brief look at annual changes in major indicators.
Other major cost drivers include fluctuations in
energy prices, increases in security, and changes in
information technology. Health care on campus has
also become more complex and expensive as we try
to meet student needs.
24
Balancing the Budget
Table 6. Select Major Drivers of the Ithaca Campus Operating Budget(dollars in thousands)
RevenuesTuition and Fees 672,247 36.6% 715,038 757,915 808,000 848,422 41.7%
Endowment Payout 231,931 12.6% 257,669 247,120 244,322 255,372 12.6%
Unrestricted Annual Gifts 45,685 2.5% 56,759 56,908 50,422 67,198 3.3%
Sponsored Programs 397,990 21.7% 458,352 420,943 394,355 366,614 18.0%
State Appropriations 163,171 8.9% 158,297 145,788 132,529 133,650 6.6%
Enterprise Sales and Services 124,520 6.8% 128,041 132,656 135,738 144,472 7.1%
ExpensesSalaries, Wages & Benefits 1,099,381 58.2% 1,017,191 1,022,788 1,053,428 1,088,650 55.2%
Financial Aid - Undergraduate 152,025 8.0% 183,702 206,576 224,502 233,755 11.9%
Financial Aid - Graduate 115,437 6.1% 130,122 134,120 134,853 128,745 6.5%
General Expenses 401,077 21.2% 377,836 405,642 400,351 360,194 18.3%
Repairs & Maintenance 64,999 3.4% 50,972 52,977 60,796 59,022 3.0%
Debt Repayment 56,147 3.0% 128,896 117,316 104,868 101,024 5.1%
Note:• 2012-13 data are based on the FY13 Budget. 2011-12 data are based on the March 2012 forecast. All other years are actuals.
Dollars Percent2009-10Dollars
2010-2011Dollars
2011-2012Dollars Dollars Percent
2008-09 2012-13
25
Imp
lemen
ting A
dm
inistra
tive E
fficiencies
An essential component of balancing the budget has been the on-going pursuit of
efficiency improvements within major administrative support functions. The objective is the
realization of significant on-going cost reductions while ensuring that these support activi-
ties work effectively with fewer resources. Funds captured from these support activities
through fiscal year 2013 total $59.2 million as shown in the chart below.
During fiscal year 2012, Finance and University
Communications initiatives completed their imple-
mentation efforts. The service restructuring portion of
Facilities is complete and the team is continuing their
focus on energy conservation efforts. Spans & Layers
will be complete in fiscal year 2013. Procurement,
Information Technology, Human Resources, Student
& Academic Services, the Provost, and Centers and
Institutes are actively engaged in on-going imple-
mentation endeavors which will further add to the
efficiencies and cost-effectiveness attained to date.
The Administrative Streamlining Program office, under
the direction of the Division of Planning & Budget,
serves as the lead in coordinating and tracking the
execution of each initiative’s plans. The ASP office is
working in conjunction with each initiative team to
create a dashboard of accountability metrics that
monitor cost reductions and operating efficiencies in
order to attain full savings expectations while assuring
appropriate operating standards for service quality.
Efforts to reach the target by the end of fiscal year 2015
will continue. Notable among the continued efforts
include realization of savings in procurement, energy
conservation, and information technology.
Implementing Administrative Efficiencies
Figure 5. Administrative Streamlining Program Initiative Impact on Budget (in millions)
Replacing the three existing Ithaca campus budget
models with a single, coherent model remains a high
priority. The new model will be strongly rooted in
transparency and will encourage healthy engagement
across campus about resource allocations. The new
budget model is based on a series of underlying
principles:
• Distribute revenues consistently
• Expose costs
• Distribute costs with revenues
• Eliminate the “General Purpose” budget and
associated deficit
• Create two taxes to fund central expenses
and costs
This summer, the Division of Planning & Budget will
work with business officers across campus to recreate
the 2012-13 budget using the new budget model and
the draft decision points below. This mock budget
will enable comparisons with the existing budget,
stimulating campus-wide discussion and adjustments
as needed.
REVENUESUndergraduate Tuition – All academic year under-
graduate tuition revenue will be centrally pooled.
This pool will include a payment from the New York
State allocation to cover the tuition differential be-
tween contract college resident and non-resident
students. A tax on tuition will pay for central
academic priorities. The remaining tuition funds
will then be returned to the colleges in proportion to
their student enrollment and instruction provided.
Graduate Tuition – All graduate tuition will flow to
the colleges and schools. Tuition for research degrees
will not be subject to a tax, whereas tuition for
professional masters degrees will be subject to the
tuition tax.
New York State Allocation – The NYS allocation will
be used to cover the difference between contract col-
lege resident and non-resident tuition. Any remaining
NYS allocation funds will be distributed to the four
contract colleges based primarily on historic alloca-
tions. In future years, the annual percentage change
of the allocation plus net undergraduate tuition will
be applied equally across the four colleges. A cap will
ensure that growth in state funding for any individual
college does not exceed the growth in state funding
to the university.
Facilities & Administrative (F&A) Revenues – F&A
on contracts and grants will be primarily distributed
to the college or school expending the research dollars.
EXPENSESCentral Administrative Costs – Central costs will be
distributed to all units based on several key cost
drivers:
• Number of students, faculty, and staff
• Research expenditures
• New gifts and commitments
• Assigned square footage and actual utility billings
Central Academic Priorities – A discretionary pool
will be made available for various academic and
administrative initiatives by taxing undergraduate
and professional masters degree tuition.
Undergraduate Financial Aid – The financial aid
office will continue to package student aid based on
the need-blind methodology and using centrally held
endowments and grants to reduce the amount billed
to the colleges. The remaining unmet need will be
pooled and distributed across all colleges based on
their proportionate share of the undergraduate
student workload used to distribute tuition. Colleges
will pay their bills using their endowment payout for
grant aid and all other available resources.
Facilities and Utilities – Operations and maintenance
expenses will be distributed to all units that have
assigned space. Unique spaces including barns and
residential spaces will be charged different rates, and
public facilities costs (e.g. Bailey Hall) will be
distributed to all units. Utilities costs will be paid
directly by the units based on usage.
26
The New Budget Model
The New Budget Model
27
Institu
tional Intelligen
ce (I2)
Similar to many other world-class organizations,
understanding how to transform our data into infor-
mation and, ultimately, into university knowledge is
critical to Cornell’s success. Many effective organiza-
tions have adopted business intelligence strategies to
ensure that their data and information assets are
accurate, secure, and constructive in providing support
for decisions made at every level of the organization,
and Cornell has launched its own solution for deci-
sion-support, Institutional Intelligence, or I2. This
initiative aims to support the on-going analytical
needs of the colleges and administrative units by
providing a central resource for accurate data, infor-
mation management, and reporting analysis. I2 can be
understood as a functional support program for the
institution’s key decision makers.
Planning processes and decision-making have become
increasingly dependent on timely, accurate and relevant
cross-functional information. It is imperative that
colleges and units across campus operate in a cam-
pus-wide environment that functions with consistent
data management practices and governance. I2 will
help to facilitate this environment, fulfilling the
needs of the end user while working to eliminate an-
tiquated, individually-administered shadow data
management systems. Ultimately, the I2 vision promotes
one structure, one process, and one platform for strategic
metric-driven analysis across the university community.
The goal of I2 is to continually assess the university’s
analytical needs and then to work collaboratively
with the colleges and units across campus to help
plan, develop, and implement strategies to effectively
convert data into valuable information and knowledge
so that every key stakeholder can make the right de-
cision, at the right time, in the right delivery media.
On a broader scale, we are confident that the I2 solution
will support better-informed, timelier decisions that
will lead to increased productivity and lower costs
across campus.
Currently, the I2 team is evaluating needs across
campus so that, in collaboration with senior leaders,
an information management system comprised of
updated tools, clear governance, and informative re-
porting will facilitate a consistent, cross-functional
information culture for the Cornell community. The
team will be actively involved with current university
IT applications and will help bridge any potential
gaps between the IT developers and the functional
end users.
These are the first steps toward what I2 expects to
accomplish in its quest for a university-wide and
centrally administered data and information manage-
ment platform.
Institutional Intelligence (I2)
Technology, Data, and Decisions: Implementing I2 at Cornell
28
Cornell in the Rankings
There are a large number of rankings enterprises
that seek to identify top institutions by determining
what metrics should be counted and to what extent.
Some rankings emphasize the impact of faculty re-
search, tallying publications, citations, and prestigious
prizes. Others seek to quantify elements of the under-
graduate experience but do not consider faculty qual-
ity. Across rankings enterprises, Cornell is typically
among the top-twenty, a true testament to the diver-
sity of our strengths.
US News & World Report is probably the most well-
known ranking effort. Their “Best Colleges” issue is
released each fall, and US News has ranked Cornell
15th in each of the last three editions. Although Cor-
nell provides US News with over 600 different data
elements in responding to their annual survey, only
fifteen of these are accounted for in the final calcula-
tion of rankings. Here are the results from the most
recent publication:
Peer Assessment (22.5%) Cornell ranked 6th
1. Based on the results of an annual survey sent to college and university presidents, provosts, and the heads of admissions, aswell as to high school counselors
Faculty Resources (20%) Cornell ranked 19th
2. Average faculty pay, plus benefits, adjusted for regional differences in cost of living (7%)
3. Percentage of faculty with highest degrees in their fields (3%)
4. Percentage of faculty who are full time (1%)
5. Student-faculty ratio (1%)
6. Proportion of classes with fewer than 20 students (6%)
7. Proportion of classes with 50 or more students (2%)
Retention (20%) Cornell ranked 16th
8. Six-year graduation rate (16%)
9. Freshman-to-sophomore retention rate (4%)
Student Selectivity (15%) Cornell ranked 15th
10. Acceptance rate (1.5%)
11. Proportion of the entering class ranking among the top 10% of their high school class (6%)
12. 25th – 75th percentile SAT scores (7.5%)
Financial Resources (10%) Cornell ranked 17th
13. Average spending per student on instruction, research, student services, and related costs
Alumni Giving (5%) Cornell ranked 18th
14. The percentage of alumni who give to their school
Graduation Rate Performance (7.5%) Cornell “over-performs”
15. The difference between the actual six-year graduation rate and the predicted graduation rate generated by USN&WR
Cornell in the Rankings
What does it mean to be considered a “top-ten research university”? The answer is not straightforward.
29
Cornell in
the R
ankings
These fifteen measures are reasonable gauges of in-
stitutional health, and it is valuable to consider them
on an annual basis. At the same time, this particular
handful of measures falls short of capturing the
priorities and goals of Cornell University.
This year, US News has asked colleges and universi-
ties for new information, including differential
graduation rates based on income and race, data
about the affordability of college, and information
about how we are using technology to connect with
students. We do not know whether these new metrics
will eventually be used in their overall ranking
formula, but they touch on issues we care about
and monitor.
We also made a change in how we responded to the
US News questionnaire this year. In past years, we
counted only assistant, associate, and full professors
as “faculty members.” This year, we have included
lecturers and instructors in our counts. Because of
this change in our reporting practice, Cornell will
move from a student-faculty ratio of 11:1 to one of 9:1
in a single year. (The 9:1 ratio should appear in the
printed publication issued early this fall.) This does
not imply that Cornell should advance in the overall
rankings; two other measures associated with fac-
ulty—percent full time and percent with the highest
degree in their field—decline when this larger pool
of faculty is considered. It does, however, bring us
into closer alignment with both how we report fac-
ulty counts elsewhere and the reporting practices
among many of our peers.
Rankings and the particular metrics from which they
are composed are informative and can help us con-
sider areas where we would like to improve. At the
same time, to prioritize US Newsmetrics over other
indicators of institutional health—including those
related to faculty quality—would detract from achieving
the important work articulated in Cornell’s Strategic
Plan.
Figure 6: Fifteen Data Elements Used by Us News in the Final Rankings Calculation
30
Space Planning
A goal of the university is to manage space in a
systematic, purposeful manner to optimize the use of
resources and to advance the mission and strategic
priorities of the university. Instrumental to this goal
is the creation of new space guidance documents and
a space utilization study for the Ithaca campus.
NEW GUIDANCE DOCUMENTSThree new documents define basic principles of
space management for the institution and provide
procedural guidance related to reallocation of space
and the conduct of space needs studies.
Guidelines for Space Needs StudiesIn September, the Capital Funding and Priorities
Committee (CF&PC) approved the Guidelines for
Space Needs Studies (Appendix T) to provide a stan-
dard process for assessing existing space utilization
and analyzing space needs. The process is recom-
mended in cases where a unit perceives a shortfall
of space or a unit projects a shortfall of space and
believes that new space (whether constructed or
annexed) is necessary to meet the shortfall. Space
needs studies are intended to create consistent and
clear expectations for units, project managers, con-
sultants, and those in review and approval roles.
Studies will be led by cross-functional working groups
that will include the Director of Space Planning
and a representative of the Office of the University
Architect. The studies will be developed using insti-
tutional data of record, integrating the programmatic
mission of the unit and incorporating current Cornell
policies.
Procedure for the Reallocation of SpaceThe Space Use Advisory Committee (SUAC) recently
initiated a Procedure for the Reallocation of Space in
order to provide a clear process for reassigning space
identified as excess to an occupying unit (Appendix
U). Proposals for available space will be solicited in
an open process. The SUAC will then rank proposals
on the basis of several criteria:
1. Need of the requesting unit;
2. Vision for the space that is practically achievable,
structurally appropriate, and able to achieve code
compliance;
3. Enhanced physical adjacencies for the requesting
unit; and
4. Financial feasibility of the plan.
This process takes into consideration the non-fungible
nature of New York State and contract college buildings.
Space Management PrinciplesIn April 2012, the CF&PC approved the Space
Management Principles that define an institutional
understanding of space ownership and space allocation
(Appendix V). The principles state that ownership of
space begins with the president and provost and is
delegated downward through organizational hierar-
chies. Accountability for space begins locally and
proceeds upward through these same hierarchies.
These principles represent the first step toward de-
veloping a more comprehensive space management
policy.
SPACE UTILIZATION STUDY FOR THEITHACA CAMPUSThe Division of Planning and Budget kicked off a
campus-wide space study in January 2012. The pur-
pose of the study is to review the current use of
non-residential space on the Ithaca campus, to quantify
the current space requirements, and to more fully
understand current space utilization. The overarching
goal is to inform space allocation, space reassignment,
Space Planning
31
Space P
lanning
decision-making for capital planning, and the
development of administrative structures for space
management. The scope includes five broad areas
of review:
1. Research space;
2. Office and other programmatic space in
academic and administrative units;
3. Instructional space, including informal and
formal study areas;
4. Student services space, including space for
graduate and professional student programs,
career services, events, and student support
functions; and
5. Space administration.
Notes:(1) In Figure 7, “Other” includes all buildings owned and occupied by Cornell outside of the main campus in Ithaca and not operated by
Weill Cornell Medical College. Other includes the major academic buildings at the New York State Agricultural Experiment Station inGeneva, buildings in Tompkins County beyond the main campus, many smaller buildings located at farms and field stations throughoutNew York State, and the Shoals Marine Laboratory.
(2) In Figure 8, “Other” includes all rooms occupied by Cornell units, independent of building ownership, outside of the main campus inIthaca and outside of the operational control of Weill Cornell Medical College. This category includes all of the space at the New YorkState Agricultural Experiment Station in Geneva, the farms and field stations in New York State, the Shoals Marine Laboratory, and allleased space occupied throughout New York State and the world.
Figure 7: Number of BuildingsOwned & Occupied
Figure 8: Net Square Feet (Annualized)
After moving to a 5-year planning horizon in fiscal
year 1994-95, the university’s total capital plan grew
at an average annual rate of 7.9 percent through fiscal
year 2008-09. Since that time, the university has
placed strict requirements on funding plans for capital
projects (see Capital Project Spending Guidelines in
Appendix S) and constrained the use of debt. As a
result, over the last four years, each capital plan has
been 18 to 37 percent smaller than the peak year, and
the share of the plan that is debt-financed has de-
creased from 44 percent to 14 percent over those four
years (see Figures 9 and 10).
The schedules on subsequent pages highlight plans
to address the university’s strategic initiatives and
program enhancements, as well as the maintenance,
renewal, and improvement of its buildings and cam-
pus infrastructure.
CAPITAL ACTIVITYThe projects in the approved capital plan (see Table
7) include those with budgets greater than $250,000
that have been approved for planning, design, or
construction; projects that represent academic or
programmatic priorities for use of unit resources;
necessary ongoing investments in maintenance and
infrastructure projects; or projects undertaken as
part of the 2009-13 State University Construction
Fund (SUCF) capital plan. All projects have com-
plete funding plans in place. Proposed projects that
are reliant on uncertain sources of funding (gifts to
be raised, future New York State capital plans, grant
proposals, etc.) or those that require new debt have
been deferred until a certain funding plan is in place.
Capital Plan HighlightsThe university has already authorized $1.19 billion
(64 percent) of capital activity on projects with an
estimated total ultimate budget of $1.86 billion. The
total planned activity over the next five years repre-
sents a 13 percent increase from the fiscal year 2011-12
capital plan.
Of the approved project costs, $674.9 million (36
percent) is estimated to be spent by the end of the
2011-12 fiscal year. Four major projects were completed
in FY2011-12: Milstein Hall, the Johnson Museum ex-
pansion, Olin Library fire safety improvements, and
the Rowing Center. If future projects proceed as
planned, the capital budget for expenditures during
2012-13 will total $499.5 million.
32
Capital Plan — 2012–13
Capital Plan – 2012-13
The university’s capital plan focuses on pursuing selected strategic priorities while
continuing the types of infrastructure, maintenance, systems, conservation, and functional
improvement and renovation projects required for a well-functioning campus. Elements in
the strategic decision processes include infrastructure needs; the inventory of deferred
maintenance needs; the efficient utilization of space; the aesthetics of design; fundraising
capacity and priorities; the availability of support from state, federal, and private resources;
debt capacity and repayment burden; and the cost of operating and maintaining the campus.
The university’s capital plan details the capital project activity anticipated over a 5-year
horizon and is a manifestation of Cornell’s priorities and initiatives.
33
Capita
l Plan —
2012–13
Projects that have been fully authorized and are un-
derway make up $1.06 billion (57 percent) of the total
capital plan. They include the Weill Cornell Medical
College’s Belfer Research Building, the renovation of
Stocking Hall and construction of a new Food Science
Building, the new Human Ecology Building and park-
ing garage, the phased renovations of Martha Van
Rensselaer, the construction of Gates Hall, and the
renovation of Warren Hall.
Major projects (project budgets greater than $10
million) and new construction planned for the Ithaca
campus represent $141.1 million (8 percent) of project
costs. This group of projects includes construction
of a new Humanities Building, renovation and new
space for the Law School, the first phase of facilities
work to allow the College of Veterinary Medicine to
expand the size of the incoming class, and means re-
striction on campus bridges. The first phase of con-
struction to create the CornellNYC Tech campus on
Roosevelt Island in New York City is also included in
the plan, with an estimated cost of $187.8 million (10
percent).
Ithaca campus facilities and infrastructure mainte-
nance and upgrades, energy conservation, adminis-
trative systems, and college and unit programmatic
renovations and improvements make up $422.7 million
(23 percent) of planned activity.
Finally, the Weill Cornell Medical College has plans
for clinical program improvements plus renovation
and maintenance needs which will require $51.8 mil-
lion in addition to the projects approved and already
underway.
FUNDING SOURCESMore than half of the funding for capital projects
depends directly on external resources (see Table 8).
Gift and grant funding, including grants from govern-
mental or private institutions, is projected at $751.4
million, or 40 percent of the total approved capital
activity. More than 90 percent of this funding is asso-
ciated with the Belfer Research Building, Gates Hall,
Humanities Building, and the CornellNYC Tech cam-
pus. The estimated value of gifts and grants in hand
or pledged for approved projects is $714.4 million,
leaving $37.0 million to be raised.
Figure 9: Total Five Year Capital Plan By Fiscal Year(dollars in millions)
New York State support is projected to fund $340.4
million (18 percent) of total project costs through the
SUNY Capital Plan. This current SUNY 5-year plan
extends to 2013. Projects to be funded from the next
SUNY capital plan are not included in the university’s
current capital plan. The process for determining
Cornell’s submission to the state is nearing comple-
tion, in anticipation of a summer request from the
state.
Funding from General Purpose resources amounts to
$429.1 million (23 percent) of approved capital activ-
ity. Half of this amount is the Weill Cornell Medical
College’s funding of the debt service for the Belfer
Research Building. Funding from unit resources and
enterprise operations represents $341.1 million (18
percent) of planned expenditures.
Based on an analysis of project expenditures and
funding availability, the university expects to finance
$259.9 million of approved project costs using debt.
$216.0 million of the debt financing is for the Belfer
Research Building, and nearly all of the rest is for en-
ergy conservation and the construction of the park-
ing garage below the new Human Ecology Building.
A funding plan for the estimated operating and main-
tenance costs of each capital project is required when
construction is authorized, and the resulting costs are
included in the responsible unit’s operating budget
plans. Projects included in the approved
5-year capital plan are expected to increase annual
operating and maintenance costs by $13.5 million at
Weill Cornell Medical College, principally due to the
new Belfer Research Building. For the Ithaca campus,
the estimated net impact of projects is an annual in-
crease of $1.4 million as the result of extensive energy
conservation work on the campus. These projects are
projected to add about 514,000 gross square feet (GSF)
of new space on the Ithaca campus; 521,000 GSF at
Weill Cornell Medical College; and 150,000 GSF at the
CornellNYC Tech campus. The work included in the
capital plan is also expected to address about $257 mil-
lion of the university’s deferred maintenance inventory.
Debt PlanProceeds from various debt issuances and borrowings
provide for the financing needs of the university’s
capital projects. Debt allows the university to
undertake capital projects when cash funding is not
available at the time capital expenditures are made,
34
Capital Plan —
2012–13
Figure 10: Debt Financing as a Percentage of Total Capital Plan By Fiscal Year
35
Capita
l Plan —
2012–13
and it also enables the university to spread the costs
related to a project over multiple fiscal years.
The need for short-term bridge financing and long-
term debt as indicated in the university’s 5-year capi-
tal plan is the basis for the university treasurer’s plan
for Cornell’s debt structure (defined as debt load,
timing, and type of borrowing instrument, among
other factors). In addition to an assessment of the
ability to repay borrowings by the relevant internal
university source of funding, there is regular monitor-
ing of the university’s external capacity to borrow
(measured by the impact that additional debt has on
financial ratios and debt ratings provided by independ-
ent rating agencies). The borrowing needs for the
capital plan and projected repayment of existing and
new debt are key inputs into the university’s 5-year fi-
nancial model.
The university’s external debt includes tax-exempt
and taxable borrowings but excludes debt issued by
New York State for contract college projects (see
Table 9). The latter is paid directly by the state and is
not recorded in the university’s budgets or financial
statements. Cornell is expected to have $1.9 billion
of external debt at the beginning of 2012-13. During
2012-13, estimated payments of $144.3 million in prin-
cipal and interest will be made on this outstanding debt.
In fiscal year 2012-13, the university plans to go forward
with capital projects for which financing has been
previously secured or those deemed critical to either
the mission of the university or the life and safety of the
campus community.
The schedule of debt by operating unit identifies
outstanding debt balances and budgeted debt service
by operating unit (see Table 10).
Space Lease CommitmentsThe schedule of lease commitments by operating
unit identifies the present value of payments on
leased space for the remaining lease term, the source
of funding for those costs, and the annual amount for
each of the next three fiscal years (see Table 11). The
present value of all current space lease commitments
is approximately $187.2 million, of which nearly three
quarters is space for the Weill Cornell Medical College.
In addition, for the first time the capital plan includes
the anticipated cost for new leases or lease exten-
sions with a present value greater than $250,000 to
be executed over the next three fiscal years, totaling
nearly $12 million in present value.
Figure 11. Funding Sources – FY 2012-13 Capital Expenditure Budget
* O & M = operations and maintenance; ~ GSF = gross square feet+ SUCF = State University Construction Fund • Note: Amounts include planned long-term debt and short-term bridge financing.
Table 7: Approved Capital Activity(current dollars in thousands)
Projects Approved/Under Way1. Medical Research Building 650,000 625,000 12,000 476
2. Stocking Hall Renovation 95,800 95,800 19,800 1,700 100
3. Human Ecology Building & Parking Structure 71,100 71,100 1,000 1,330 193
4. MVR 1933 and East Wing Rehab - Phases 0-2 61,000 61,000 30,000 100
5. Gates Hall 60,000 60,000 1,030 100
6. Warren Hall Renovations - Phases 1 & 2 51,000 51,000 8,215 35
7. Weill Cornell West Side Clinical Practices 25,000 25,000 1,500 30
8. Kuali Financial System Implementation 17,319 16,746
9. Fernow Hall Rehab and Roof Repairs Construction 12,288 12,288 3,900 40 5
10. Large Animal Teaching Complex/Teaching Dairy Barn 8,146 8,146 1,130 22 32
11. Nestle Library Student Lounge Renovation 6,845 6,845
12. Tower Road Utilities Upgrade 3,500 3,500
13. Fernow & Rice Hall Design 3,256 3,256 4,475 50 5
14. Energy Conservation Projects - Residential 2,805 2,805 1,500
15. Workday Implementation 2,578 2,717
16. Energy Conservation Projects - Geneva 2,520 2,520 (252)
17. Contract Colleges Facilities Master Plan 2,500 2,500
18. Energy Conservation Projects - Dining 2,000 1,995 1,000
19. Savage Hall 4th Floor Renovation & Mechanical Upgrades 1,595 1,595 600
20. VMC Small Animal Surgery HVAC 1,400 1,400 1,011
21. Contract Colleges Electrical Substations Upgrades Design 1,310 1,310
22. Kronos Replaces COLTS 1,239 1,239
23. Wolpe Center Kitchen 690 690
Projects Approved/Under Way Subtotal 1,083,891 1,058,452 72,631 17,555 941
Major Projects/New Construction24. Humanities Building 7,460 61,000 500 500 62
25. Law School Master Plan - Phase 1 2,649 23,800 225 14
26. CVM Class Expansion - Phase 1 300 22,440 13,000
27. Olin Library HVAC System Replacement 12,000 12,000
28. Bridge Means Restriction 1,935 10,000
29. Harford Teaching and Research Dairy Center 650 8,300
30. Big Red Marching Band Practice Facility 670 3,586
Major Projects/New Construction Subtotal 13,664 141,126 25,500 725 76
New York State Funded31. Energy Conservation Projects - Contract Colleges - Phase 1 2,043 22,842 450 (2,284)
32. Contract Colleges Misc. Rehab/Repair 14,894 20,989 20,989
33. Multiple Buildings Roof Repairs - Phase 1 2,300 4,025 5,000
34. Contract Colleges Network Connectivity - Phase 1 330 3,979
35. Conservatory Greenhouse Restoration 430 2,500 1,000
36. East Campus Storm Sewer Replacement 276 2,000
37. Contract Colleges Electric Service Entrance Upgrades-Phase 1 1,099 1,999
38. Barton Hall Police Evidence Room HVAC Upgrades 1,500
39. Geneva Campus Electrical Upgrades 150 815 650
New York State Funded Subtotal 21,522 60,649 28,089 (2,284)
36
Capital Plan — 2012–13
AuthorizedBudget
EstimatedTotal
Budget
DeferredMaint
Addressed
EstimatedO&M CostImpact *
AdditionalSpaceGSF ~
37
Capital Plan — 2012–13
409,000 216,000 216,000 310,000 200,000 115,000
1,800 94,000 33,884 24,450 37,466
29,000 42,100 19,500 68,194 2,906
2,361 56,639 2,000 52,895 8,105
48,330 11,670 11,766 30,234 18,000
1,000 50,000 16,807 12,220 21,973
16,000 9,000 12,000 13,000
16,746 15,568 1,178
250 12,038 6,160 6,128
344 802 7,000 688 6,763 1,383
1,200 5,645 3,220 3,625
100 3,400 3,170 330
144 3,112 2,816 440
2,805 1,155 1,150 500
2,717 2,602 114
2,319 201 2,244 1,299 1,106 115
2,500 1,206 1,294
1,995 1,495 500
1,595 1,236 359
26 1,374 1,172 228
1,310 980 330
1,239 1,068 1,226 13
690 410 280
458,530 248,717 66,531 273,474 11,201 239,499 556,025 309,373 193,053
59,240 1,760 4,160 3,300 53,540
23,800 2,930 10,970 9,900
440 22,000 480 5,697 16,263
12,000 12,000
10,000 1,941 8,059
8,300 500 150 7,650
3,500 86 1,231 2,355
62,740 22,000 34,386 22,000 11,242 30,531 99,353
10,936 2,778 9,128 10,936 9,007 10,204 3,631
20,989 13,910 4,236 2,843
40 3,985 2,278 210 1,537
50 3,929 1,035 934 2,010
50 2,450 1,638 862
100 1,900 376 1,625
1,174 825 1,624 375
975 525 75 975 450
15 800 205 610
11,911 4,207 44,531 10,936 30,148 20,029 10,471
Gifts/Investment
Income
GP/CentralFunds
Unit/Enterprise SUCF+
Other Gov’t./Institution
DebtFinancing(see note)
Through11-12
12-13Budget
13-14 to16-17
Beyond16-17
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.
39.
FUNDING SOURCES EXPENDITURE PATTERN
Table 7: Approved Capital Activity cont.(current dollars in thousands)
Maintenance, Infrastructure, Unit40. Planned Maintenance Projects 44,716 42,288
41. Extraordinary Maintenance Projects 1,062 19,745 12,270
42. General Purpose Maint. & Infrastructure Projects 2,657 13,950
43. Administrative Systems 8,288 21,105
44. CIT Projects 3,494 27,968
45. Transportation Projects 200 3,361 361
46. Real Estate Projects 204 3,372 (53)
47. Energy & Sustainability Projects 6,031 11,675 225 (1,135)
48. Utilities Projects 4,505 37,533 23,600
49. Campus Life Projects 5,432 59,953 21,400 26 3
50. Cornell Store Projects 375 1,565
51. Architecture, Art & Planning Projects 448 7,600 1,000
52. Arts & Sciences Projects 3,347 12,000
53. Engineering Projects 70 29,149 650
54. Hotel School Projects 4,500
55. Agriculture & Life Sciences Projects 2,839 27,505 12,500
56. Human Ecology Projects 2,650 1,000
57. Industrial & Labor Relations Projects 1,200
58. Veterinary Medicine Projects 1,364 9,392
59. Johnson School Projects 768 4,131
60. Computing & Information Sciences Projects 1,500
61. Library Projects 240 5,300 50
62. Cornell In Washington Projects 500
63. Research Centers Projects 170 650
64. Student & Academic Services Projects 100 8,290 5
65. Athletics Projects 2,700 300 12
Maintenance, Infrastructure, Unit Subtotal 41,593 362,009 115,594 (1,095) 3
CornellNYC Tech66. CornellNYC Tech Campus - Phase 1 23,536 187,838 150
CornellNYC Tech Subtotal 23,536 187,838 150
Weill Cornell Medical College Projects67. Medical Research Building - 4th Floor 15,000
68. Deferred Maintenance 2,755 12,800 12,800
69. Weill Cornell East Side Primary Care Practice Expansion 20 9,000 9
70. Replacement of EPIC Software System for Clinical Billing 4,800
71. Radiology Alzheimer's Practice 20 4,200 6
72. Molecular Chemistry for Imaging 20 3,000
73. GMP Facility Critical Maintenance 20 2,000 2,000
74. Pain Management Fluoroscopy 500
75. Library Conference Rooms, Reading Rooms & ITS Access 30 500
Weill Cornell Medical College Projects Subtotal 2,865 51,800 14,800 15
Total Capital Activity 1,187,070 1,861,874 256,614 14,901 1,185
* O&M = operations and maintenance~ GSF = gross square feet+ SUCF = State University Construction Fund• Note: Amounts include planned long-term debt and short-term bridge financing.
38
Capital Plan — 2012–13
AuthorizedBudget
EstimatedTotal
Budget
DeferredMaint
Addressed
EstimatedO&M CostImpact *
AdditionalSpaceGSF ~
39
Capital Plan — 2012–13
44,493 223 8,190 36,526
17,495 1,900 350 600 3,325 15,820
13,950 2,000 3,700 8,250
21,105 4,743 9,690 6,672
17,994 9,974 5,744 11,284 10,940
3,361 925 2,436
3,314 58 235 511 1,825 926 110
9,140 2,535 8,627 4,831 3,629 3,215
4,500 33,033 5,215 7,695 18,663 5,960
1,500 58,453 6,441 8,920 39,892 4,700
1,565 600 965
1,200 1,250 5,150 600 4,500 2,500
500 900 10,600 3,200 2,300 5,300 1,200
1,160 27,989 946 9,546 18,657
4,500 1,000 3,500
25,805 1,700 10,943 5,937 10,625
750 1,900 500 1,550 600
1,200 800 400
9,392 2,552 2,840 4,000
4,131 756 1,425 1,950
1,500 1,500
5,300 250 1,550 2,045 1,455
500 500
325 325 650 505 145
8,290 530 3,760 4,000
2,700 50 950 1,700
5,110 131,151 223,640 350 1,758 9,512 52,442 97,962 198,181 13,425
187,838 13,640 16,544 157,654
187,838 13,640 16,544 157,654
15,000 1,400 12,000 1,600
12,800 2,755 2,045 8,000
3,000 6,000 1,000 8,000
1,600 3,200 4,200 300 300
4,200 4,200
3,000 2,000 1,000
2,000 1,000 1,000
500 200 300
500 500
15,300 12,300 24,200 11,355 25,045 15,400
714,218 429,078 341,064 340,355 37,159 259,946 674,851 499,485 674,112 13,425
40.
41.
42.
43.
44.
45.
46.
47.
48.
49.
50.
51.
52.
53.
54.
55.
56.
57.
58.
59.
60.
61.
62.
63.
64.
65.
66.
67.
68.
69.
70.
71.
72.
73.
74.
75.
Gifts/Investment
Income
GP/CentralFunds
Unit/Enterprise SUCF+
Other Gov’t./Institution
DebtFinancing(see note)
Through11-12
12-13Budget
13-14 to16-17
Beyond16-17
FUNDING SOURCES EXPENDITURE PATTERN
Table 8: Sources and Uses of Capital Expenditures(dollars in thousands)
1. Ithaca General Purpose Funds (1) 32,960 46,486 41,979 21,473 21,536 12,045 176,479
2. WCMC General Purpose Funds (1) 2,755 3,545 3,000 2,000 2,000 2,000 15,300
3. Gifts In Hand 16,123 24,425 3,522 425 300 44,794
4. Gifts Pledged 14,038 23,387 43,038 48,804 60,640 61,920 251,827
5. Ithaca Gift Funds (2) 30,161 47,812 46,560 49,229 60,940 61,920 296,621
6. Gifts In Hand 134,000 128,000 37,000 299,000
7. Gifts Pledged 32,000 20,000 23,000 75,000
8. Gifts to be Raised 33,000 2,000 35,000
9. WCMC Gift Funds (2) 134,000 160,000 90,000 25,000 409,000
10. Investment Income (3) 8,597 8,597
11. Unit Funds (4) 48,663 59,962 44,178 18,807 11,745 10,170 2,765 196,290
12. Enterprise Funds (5) 11,328 15,914 20,921 13,347 11,320 10,337 10,660 93,827
13. WCMC Enterprise Funds (5) 11,500 12,300 4,500 28,300
14. SUCF Capital (6) 186,450 72,604 49,116 32,185 340,355
15. Other Gov't/Institution (7) 2,646 373 332 308 300 3,959
16. WCMC Other Gov't/Institution (7) 9,100 22,200 1,900 33,200
17. Ithaca Campus Debt 29,289 9,691 3,554 1,212 200 43,946
18. WCMC Medical Debt 176,000 40,000 216,000
19. Subtotal Debt Financing (8) 205,289 49,691 3,554 1,212 200 259,946
20. Total Capital Funding/Financing 674,851 499,485 306,039 163,560 108,041 96,472 13,425 1,861,874
1. Projects Approved/Under Way (incl. WCMC) 556,025 309,373 141,735 51,318 1,058,452
2. Major Projects/New Construction (incl. NYS) 11,242 30,531 52,305 26,408 20,640 141,126
3. New York State Funded 30,148 20,029 9,255 1,216 60,649
4. Maintenance, Infrastructure, and Unit 52,442 97,962 74,570 51,658 39,401 32,552 13,425 362,009
5. CornellNYC Tech 13,640 16,544 18,774 30,960 46,000 61,920 187,838
6. Medical College Projects 11,355 25,045 9,400 2,000 2,000 2,000 51,800
7. Total Capital Expenditures 674,851 499,485 306,039 163,560 108,041 96,472 13,425 1,861,874
Notes:(1) General Purpose funds are resources provided from the central university General Purpose or Medical College budgets. Project examples include Medical
Research Building, administrative systems, energy conservation, and maintenance.(2) Gifts are restricted gifts for capital projects. Gifts in hand are cash payments. Gifts Pledged are gift commitments with future payment. Gifts to be Raised are a
projection of future, to be identified gifts that can be raised for projects. Project examples include Humanities Building, Gates Hall, and Medical Research Building.(3) Investment Income is interest earned on gift funds in hand prior to expenditure on project costs. Project examples include Gates Hall.(4) Unit funds are resources provided by colleges or other units from their operations or reserves. Project examples include Law School, CIT, Utilities, college
projects, and contributions to State-funded projects.(5) Enterprise funds are resources provided by units run as enterprise and revenues generated by rates. Examples include Campus Life, Utilities, Transportation,
and WCMC clinical practices.(6) SUCF Capital is New York State funding provided to the SUNY campuses, administered by the State University Construction Fund. Project examples include the
new Human Ecology Building, Stocking Hall renovation/addition, MVR 1933/East rehabilitation, and Warren Hall renovation.(7) Other Government/Institution funds are resources provided by federal, state or local government agencies or private institutions. Project examples include the
fit-out of the 4th floor of the Medical Research Building.(8) Debt financing includes both long-term debt repaid by amortized debt service payments from operating budgets and short-term bridge financing repaid by
receipt of future gift payments. Project examples include the Human Ecology Building Parking Garage, Medical Research Building, and energy conservation.
40
Capital Plan — 2012–13
To Date 12-13 13-14 14-15 15-16 16-17Beyond16-17 Total
Sources
To Date 12-13 13-14 14-15 15-16 16-17Beyond16-17 Total
Uses
Table 9: Summary of External Debt Financing(dollars in thousands)
Tax-Exempt Debt 1. Series 1990B 3.00 - 5.00% 2025 47,980 45,440 4,811 4,812 4,807
2. Series 1998 Commercial Paper 2.99% until 10/1/15 2037 59,000 57,540 3,195 3,186 3,201
3. Series 2000A 2.99% until 10/1/15 2029 51,090 49,100 3,543 3,561 3,581
4. Series 2000B 4.63% 2030 68,460 66,140 5,495 5,492 5,489
5. IDA Series 2002A 4.52% 2030 41,940 40,495 3,340 3,337 3,336
6. IDA Series 2002B 2.90% 2015 15,390 15,390 446 446 15,836
7. Series 2004 3.51% 2033 81,600 79,200 5,255 5,243 5,279
8. Series 2006 4.00 - 5.00% 2035 196,120 184,735 20,279 19,645 12,655
9. IDA Series 2008 2.00 - 5.25% 2037 68,630 67,170 4,711 4,742 4,720
10. Series 2008 3.00 - 5.00% 2037 125,420 122,980 8,634 8,634 8,638
11. Series 2009 3.00 - 5.00% 2039 305,000 299,470 20,280 20,282 20,284
12. Series 2010 4.00 - 5.00% 2040 285,000 285,000 14,088 14,088 14,088
13. Subtotal Tax-Exempt Debt 1,345,630 1,312,660 94,078 93,467 101,915
Taxable Debt 14. Series 1987B 11.11% 2012 3,080 725 806 - -
15. Series 2009 taxable 4.35 - 5.45% 2019 500,000 500,000 24,500 274,500 13,625
16. Commercial Paper Variable - 78,500 78,500 7,673 7,591 7,426
17. Urban Development Corp. 0.00% 2029 2,250 2,125 125 125 125
18. Other Various 2029 2,676 2,588 262 262 262
19. Subtotal Taxable Debt 586,506 583,938 33,366 282,478 21,438
Swap Interest 16,851 12,775 8,970
Total External Debt 1,932,136 1,896,598 144,294 388,719 132,322
Notes:• The total outstanding external debt and the sum of external debt service payments for 2012-2013 shown above are different from the corresponding
outstanding operating unit debt balances and debt service totals shown in Table 10 due to a combination of: (a) differences in timing of borrowingand repayment between the university and various operating units; (b) debt costs, including compounded interest, to be recovered from future interest payments on operating unit debt; and (c) proceeds of debt issues used to pay issuance costs, on deposit in construction funds, or deposited into reserves to pay future debt service or fund project maintenance.
• While Series 2000A, 2000B, 2002A, 2004 and a portion of the tax-exempt commercial paper were issued as variable-rate debt, they have beenswapped to fixed rates for various terms, which are reflected in the interest-rate information and projected debt service payments.
• Cornell maintains a pool of working capital and a line of credit that are used to meet the daily cash flow of disbursements.
41
Capital Plan — 2012–13
ActualBalance6/30/11
ForecastBalance6/30/12 12-13 13-14 14-15Interest Rate
MaturityDate
Projected External Debt Service Payments
Table 10: Debt Service by Operating Unit(dollars in thousands)
Ithaca Campus
1. Agriculture & Life Sciences 2,851 2,718 451 451
2. Architecture, Art, and Planning 10,928 28,427 809 1,232 2,041
3. Arts & Sciences 92,893 97,173 7,258 7,258
4. Engineering 41,123 42,842 3,663 3,663
5. Hotel Administration 13,843 8,226 2,063 2,063
6. Human Ecology 761 600 317 317
7. Industrial & Labor Relations 1,320 1,180 202 202
8. Johnson School 3,415 2,372 612 612
9. Law School 2,265 1,785 584 584
10. Veterinary Medicine 19,108 22,647 1,629 852 2,481
11. Colleges Subtotal 188,507 207,970 6,083 13,589 19,672
12. Animal Facilities 54,844 52,778 4,744 4,744
13. Life Sciences 88,076 86,132 6,410 6,410
14. Theory Center 2,375 2,250 127 127
15. Research Centers Subtotal 145,295 141,160 11,281 11,281
16. Africana Center 1,831 1,529 388 388
17. Athletics & Physical Education 5,511 4,717 443 443
18. Cornell In Washington 2,704 2,618 262 262
19. Library 9,709 9,322 877 877
20. All Other 1,040 859 230 230
21. Other Academic Programs Subtotal 20,795 19,045 935 1,265 2,200
22. Campus Life 195,834 182,680 18,169 18,169
23. Dean of Students 158 140 26 26
24. Fraternities/Sororities 2,755 2,470 290 290
25. Gannett Health Services 1,824 1,548 363 363
26. Student Services Subtotal 200,571 186,838 18,485 363 18,848
27. Human Resources 6,624 6,354 694 694
28. Information Technologies 10,721 9,544 595 1,103 1,698
29. All Other 612 487 138 138
30. Administrative & Support Subtotal 17,957 16,385 1,289 1,241 2,530
31. Facilities & Campus Services 152,849 147,211 15,362 410 15,772
32. Real Estate 15,458 18,386 2,190 2,190
33. Transportation/Mail Service 24,997 23,964 2,314 2,314
34. Physical Plant Subtotal 193,304 189,561 19,866 410 20,276
35. Ithaca All Other 9,100 6,128 1,718 1,718
36. Ithaca Campus Total 775,529 767,087 46,658 29,866 76,524
Medical College
37. Research 138,849 269,412 25,663 25,663
38. Residences 74,627 71,964 6,434 6,434
39. Clinical Care 303 78
40. Infrastructure 14,648 13,908 1,345 1,345
41. Medical College Total 228,427 355,362 33,442 33,442
42. University Total 1,003,956 1,122,449 80,100 29,866 109,966
42
Capital Plan — 2012–13
2/28/11 2/29/12Unit
BudgetCentralBudget Total
Outstanding Balance2012-2013 Debt Service
43
Capital Plan — 2012–13
Table 11: Current Lease Commitments and Lease Extensions
Current Lease Commitments by Operating Unit(dollars in thousands)
1. Agriculture & Life Sciences 1,793 1,495 298 392 193 119 2. Architecture, Art & Planning 1,651 1,651 727 625 296 3. Computing & Information Science 282 282 282 4. Engineering 720 720 166 166 166 5. Human Ecology 2,871 1,808 1,063 599 620 497 6. Industrial & Labor Relations 8,903 8,903 1,442 1,558 1,669 7. Johnson School 86 86 45 30 15 8. Law School 10 10 10 9. Colleges Subtotal 16,317 282 14,674 1,361 3,664 3,191 2,762
10. Research 133 67 66 115 20 11. Other Academic 86 8 78 53 30 5 12. Academic Support Subtotal 219 75 78 66 168 50 5
13. Alumni Affairs & Development 10,842 10,087 755 1,520 1,415 1,056 14. Facilities Services 663 663 222 127 127 15. Financial Affairs 689 689 264 264 198 16. Government Affairs 180 180 100 73 12 17. Human Resources 55 55 25 25 6 18. Investment Office 354 354 102 102 102 19. Student & Academic Services 206 206 97 97 20 20. University Communications 463 463 193 194 97 21. Central University 8,753 8,753 1,083 840 817 22. Administration Subtotal 22,204 20,226 1,978 3,606 3,139 2,437
23. CornellNYC Tech Campus ¶ 7,300 7,300 1,400 1,400 1,400 24. Weill Cornell Medical College 138,282 75,573 59,448 3,260 19,205 18,161 17,487 25. Subsidiaries 2,845 2,845 385 395 405
26. University Total 187,166 96,156 83,478 7,532 28,428 26,336 24,496
Lease ExtensionsNet Present Value > $250K(dollars in thousands)
1. 130 E. Seneca St., Ithaca, NY JGSM 431 431 431 2. East Hill Plaza, Ithaca, NY † DFA 759 759 380 380 3. 30 Brown Rd., Ithaca, NY CALS 1,082 1,082 1,082 4. 35 Thornwood Dr., Ithaca, NY † DFA 1,128 1,128 1,128 5. 312 College Ave., Ithaca, NY Comm. 844 844 844 6. 409 College Ave., Ithaca, NY SAS 251 251 251 7. 445 E. 68th St., New York, NY WCMC PO 885 885 295 295 295 8. 230 Park Ave., New York, NY AAD 1,797 1,797 1,797 9. 40 Worth St., New York, NY WCMC PO 363 363 363 10. 50 W. 17th St., New York, NY AAP 886 886 886 11. 1300 Franklin Ave., Bronx, NY WCMC PO 548 548 548 12. 1337 President St., Brooklyn, NY CHE 527 169 359 527 13. 1345 President St., Brooklyn, NY CHE 337 108 229 337 14. 400-444 N. Capitol St. NW, Govt. 292 292 292
Washington, DC15. Palazzo Lazzaroni, Via Dei Barbieri, AAP 1,602 1,602 1,602
Rome, Italy16. Total 11,734 3,024 7,040 1,670 1,106 4,357 6,271
Notes:* Net Present Value¶ An estimate is provided for the CornellNYC Tech campus since a lease has not yet been executed.∆ Johnson School (JGSM), Division of Financial Affairs (DFA), College of Agriculture & Life Sciences (CALS), University Communications
(Comm.), Student and Academic Services (SAS), Weill Cornell Medical College Physician Organization (WCMC PO), Alumni Affairs & Development (AAD), Architecture, Art & Planning (AAP), College of Human Ecology (CHE), Government & Community Relations (Govt.)
† Cornell is both tenant and landlord.
06/30/12LeaseNPV*
CentralFunds
Unit/Enterprise
OtherGov't/Inst 12-13 13-14 14-15
SOURCES OF FUNDING LEASE PAYMENTS
Unit ∆Estimated
LeaseNPV*
CentralFunds
Unit/Enterprise
OtherGov't/Inst 12-13 13-14 14-15
SOURCES OF FUNDING LEASE EXECUTION
44
Appendices
45
Appendices
A Academic Year Tuitions............................................
B Student Fees and Other Tuition Rates...................
C Enrollment Assumptions..........................................
D Profile: Class of 2015.................................................
E Undergraduate Tuition and Fees, Room and
Board – Ivy League, Peer, and Common
Acceptance Institutions ...........................................
F Undergraduate Tuition and Fees – Selected Public
and Land-Grant Institutions.....................................
Tuition and Fees – Selected Medical Colleges.....
G Average Nine-Month Faculty Salaries – Selected
Research Institutions ................................................
H Undergraduate Financial Aid ...................................
I New York State Appropriations...............................
J Facilities and Administrative Costs and Employee
Benefits Billing Rates ................................................
K Investment Assets, Returns, and Payouts ...........
L Endowment Market Value for Selected
Institutions ..................................................................
M Gifts/Contributions – Through March 31, 2012 ...
N Cornell Now Campaign – Through March 31, 2012
O Projected Maintenance Funding – Ithaca Campus
P Work Force - Ithaca Campus ...................................
Q Room and Board Rates – Ithaca Campus..............
R Ithaca Campus Faculty Peers by College..............
S Capital Project Spending Guidelines......................
T Guidelines for Space Needs Studies ......................
U Procedure for the Reallocation of Space ..............
V Space Management Principles................................
W Division Directory.......................................................
46
47
48
49
52
53
53
54
55
56
57
58
59
60
61
62
63
64
65
66
68
70
72
73
Academic Year Tuitions
Endowed Ithaca1. Undergraduate $37,750 $39,450 $41,325 $43,185 4.50%
2. Graduate School (research degrees) * 29,500 29,500 29,500 29,500 0.00%
3. Graduate School (professional degrees) † 37,750 39,450 41,325 43,185 4.50%
4. Hotel Administration (Mgt. Intern Pgr. - per term) 15,100 15,780 16,530 17,274 4.50%
5. Johnson School (MBA entering students) 47,150 49,272 51,480 53,796 4.50%
6. Johnson School (MBA continuing students) 46,700 49,272 51,480 53,796 4.50%
7. Johnson School (accelerated MBA program - summer) 27,700 29,800 31,140 32,540 4.50%
8. Johnson School (Cornell-Queen's EMBA - 17 month) 99,800 103,680 106,890 110,220 3.12%
9. Johnson School (executive MBA program - 2 year) 133,600 138,800 145,380 149,920 3.12%
10. Law School (entering and 2nd year students) 48,950 51,150 53,150 55,220 3.89%
11. Law School (3rd year students) 48,050 51,150 53,150 55,220 3.89%
12. Law School (JSD) 48,050 51,150 53,150 29,500 (44.50%)
13. Law School (LL.M 1-yr. Program) 51,530 53,850 56,490 59,260 4.90%
14. Cornell Abroad – (Bologna I per term) 16,345 17,100 16,470 15,700 (4.68%)
15. Cornell Abroad – (Bologna II - spring term) 18,995 19,920 19,430 18,700 (3.76%)
16. Cornell Abroad – (Denmark - per term) 23,490 24,210 23,945 24,700 3.15%
17. Cornell Abroad – (Europe & Nepal - per term) 21,950 22,925 23,000 23,250 1.09%
18. Cornell Abroad (Kyoto - per term) 28,325 29,325 26,945 27,200 0.95%
19. Cornell Abroad (External General - per term) ‡ 4,995 4,995 3,995 3,200 (19.90%)
20. Cornell Abroad (External Israel & UK -per term) ‡ 5,410 5,410 4,410 3,600 (18.37%)
Contract College21. Undergraduate – Resident § 21,610 23,310 25,185 27,045 7.39%
22. Undergrad. – Nonresident ** 37,750 39,450 41,325 43,185 4.50%
23. Sea Education Association (per term) + 16,730 17,600 17,900 18,600 3.91%
24. Environmental Science (per term) 17,046 18,800 18,800 19,350 2.93%
25. Graduate School (non-veterinary research degrees) * 20,800 20,800 20,800 20,800 0.00%
26. Graduate School (non-Veterinary professional degrees) † 24,700 25,815 27,040 28,260 4.51%
27. Veterinary Medicine – Resident DVM 26,500 27,700 28,400 29,400 3.52%
28. Veterinary Medicine – Nonresident DVM 39,500 41,700 42,750 44,250 3.51%
29. Veterinary Medicine – Graduate School 20,800 20,800 20,800 20,800 0.00%
Medical Campus30. Medical College (entering students) 44,650 45,545 46,000 47,150 2.50%
31. Medical College (continuing students) 39,100 45,545 46,000 47,150 2.50%
32. Graduate School of Medical Sciences 27,830 28,480 29,282 30,160 3.00%
Notes:* Research degrees include: MA (except for CRP), MS, MS/PhD, PhD, MFA, DMA programs and non-degree students.† Professional degrees include: CIPA (MPA), FALCON, MArch I and II, MAT, MEng, MFS, MHA, MILR, MLA, MRP,
MPS, MPS Africana Studies, MPS Applied Statistics, MPS Information Studies, and MPS Real Estate.‡ External program tuitions exclude the tuition costs of the host university, which the student pays directly.§ This tuition is also used for master of professional studies programs in existence before 1999-2000.** This tuition is also used for master of professional studies programs created in 1999-2000 and thereafter.+ SEA Semester Summer Session
46
Appendices
A
09-10 10-11 11-12 12-13% Changefrom 11-12
Student Fees and Other Tuition Rates
Ithaca Campus1. Acceptance Deposit – Undergraduate * $400 400 400 400 0.0%
2. Active File Fee – Graduate (per term) 200 200 200 200 0.0%
3. Activity Fee - Undergraduate (mandatory) 204 216 216 229 6.0%
4. Activity Fee - Graduate (mandatory) 70 76 76 81 6.6%
5. Administrative/Special Fee † 7,425 7,760 8,130 8,500 4.6%
6. Application Fee – Undergraduate 70 70 75 75 0.0%
7. Application Fee – Graduate 70 80 95 95 0.0%
8. Application Fee – Johnson School (US) 200 200 200 200 0.0%
9. Application Fee – Johnson School (international) 200 200 200 200 0.0%
10. Application Fee – Law School (JD degree) 75 80 80 80 0.0%
11. Application Fee – Law School (PhD degree) 75 80 80 80 0.0%
12. Application Fee – Veterinary Medicine ** 60 60 60 65 8.3%
13. Candidate for Degree Only Fee – Graduate 35 35 35 ††
14. Cornell Card Annual Fee 10 10 10 12 20.0%
15. Doctoral Thesis Fee – Graduate 135 135 135 135 0.0%
16. Extramural Study Course Tuition (per credit) 1,010 1,055 1,055 1,155 9.5%
17. Extramural Study Military Science (per course) ¶ 15 50 75 100 33.3%
18. I.D. Replacement Fee 40 40 40 40 0.0%
19. In-Absentia Fee – Graduate (per term) 200 200 200 200 0.0%
20. In-Absentia Fee – Johnson School (per term) 75 75 75 75 0.0%
21. In-Absentia Fee – Law School (per term) 75 75 75 200 166.7%
22. Late Registration Fee – General ◊ 350 350 350 350 0.0%
23. Late Thesis Filing Fee – Graduate 100 100 100 100 0.0%
24. Summer Session Course Tuition (per credit) ∞ 970 1,010 1,105 1,105 0.0%
25. Shoals Marine Lab (per credit, includes board) ∞ 1,043 1,153 1,524 1,613 5.8%
26. Summer Session Registration ∅ 100 100 100 100 0.0%
Medical Campus27. Application Fee – Medical College 75 75 75 75 0.0%
28. Application Fee – Medical Sciences 60 60 60 60 0.0%
29. Health Service Fee - Medical Campus (mandatory) 1,300 1,300 1,350 1,350 0.0%
Notes:* The undergraduate acceptance deposit is a one-time payment made by newly accepted students that is reimbursed as a tuition credit during the
first semester of enrollment.† The administrative/special fee covers administrative and support costs for the pre-1983 Cornell Children's Tuition Scholarship (CCTS) program.** The College of Veterinary Medicine uses the Veterinary Medicine College Application Service (VMCAS) to process applications. This fee is
supplemental to the VMCAS fee. The FY13 VMCAS fee is pending (FY12 fee was $159).¶ The Military Science course rate shown here is for non-Cornellians only.◊ The FY12 late registration fee is $350 after the third week then rises to a fixed rate of $500 after the 6th week.∞ The summer session course tuition and Shoals Marine Lab fee for 2012-13 are applicable for the summer of 2012 instructional period.
(Each course has an additional fee of $241).∅ The summer session registration fee, due after the applicable early enrollment deadline, is $100. Students who enroll after the registration
deadline for any session may also be assessed late fees of $100 per week.†† The Candidate for Degree Only Fee is no longer charged to graduate students.
47
Appendices
B
09-10 10-11 11-12 12-13% Changefrom 11-12
Enrollment Assumptions
Undergraduate—On-Campus1. Agriculture & Life Sciences 3,432 3,348 3,430 1,836 1,523 3,359
2. Architecture, Art & Planning 447 430 463 450 450
3. Arts & Sciences 4,198 4,119 4,245 4,101 4,101
4. Engineering 2,804 2,791 2,826 2,777 2,777
5. Hotel Administration 868 876 891 854 854
6. Human Ecology 1,138 1,150 1,166 526 600 1,126
7. Industrial & Labor Relations 844 824 845 381 492 873
8. Subtotal On-Campus 13,731 13,537 13,866 10,925 2,615 13,540
Undergraduate—Off-Campus † � 9. Cornell Abroad 153 266 144 266 266
10. Cornell in Washington 44 42 33 42 42
11. Field Study/EAS Hawaii/Sea Semester 124 96 96 96 96
12. Rome Program 49 45 45 45 45
13. NYC Program 11 30 30 30 30
14. Subtotal Off-Campus 381 479 348 479 479
15. Total Undergraduate 14,112 14,016 14,214 11,404 2,615 14,019
Professional16. Johnson School 872 823 823 823 823
17. Law 570 648 648 648 648
18. Medical College 393 401 401 401 401
19. Veterinary Medicine 377 401 391 217 184 401
20. Total Professional 2,212 2,273 2,263 2,089 184 2,273
Graduate21. Agriculture & Life Sciences 947 811 811 811 811
22. Architecture, Art & Planning § 428 315 315 315 315
23. Arts & Sciences 1,194 1,166 1,166 1,166 1,166
24. Engineering 1,637 1,474 1,501 1,501 1,501
25. Hotel Administration 66 54 54 54 54
26. Human Ecology ~ 200 432 432 432 432
27. Industrial & Labor Relations 188 187 187 187 187
28. Johnson School 46 41 41 41 41
29. Law 12 12 10 11 11
30. Graduate School of Medical Sciences 338 384 384 384 384
31. Veterinary Medicine 109 124 124 124 124
32. Total Graduate 5,165 5,000 5,025 5,026 5,026
33. Total Enrollment 21,489 21,289 21,502 18,519 2,799 21,318
Notes:* Tuition revenues are based on FTE enrollments, which account for fall-to-spring enrollment differences, tuition prorations for students attending
less than a full semester, and Johnson School enrollees in the Queens EMBA program who pay tuition to Queens University rather than CornellUniversity.
† The difference between fall registration and FTE paying enrollments for off-campus programs reflects higher enrollments in these programsduring the spring semester, especially in Cornell Aborad.
§ All Program in Real Estate enrollments have been consolidated on line 22 in this schedule.~ All Cornell Institute for Public Affairs enrollments have been consolidated on line 26 in this schedule.
48
Appendices
C
Fall 11Actual
RegistrarEnrollments
12-13Overall
EnrollmentTargets
Fall 12ProjectedRegistrar
Enrollments Resident Nonres. Total
12-13 ProjectedFull-Time Equivalent
Tuition-Paying Enrollments *
49
Appendices
D
Profile: Class of 2015
CLASS OF 2015: ENROLLING FALL FRESHMEN
3,356 fall freshmen are expected to enroll in the Class of 2015*
• 49.9% are women; 50.1% are men
• 65.6% attended public high schools
• 15.3% are children of Cornell alumni
• 6.4% are recruited athletes
• The average age is 18
ENROLLING FRESHMEN BY CORNELL COLLEGE
STANDARDIZED TESTS
Percent of enrolling students submitting SAT scores: 87.8%
Percent of enrolling students submitting ACT scores: 36.4%
SAT I Critical Reading 630 680 730 678
SAT I Math 670 730 770 715
SAT I Total 1,320 1,410 1,480 1,393
ACT Composite 29 31 33 31
HIGH SCHOOL CLASS RANK
Percent of enrolling students submitting high school class rank: 35.5%
Top tenth of graduating class 89%
Top quarter of graduating class 98%
Top half of graduating class 99%
Notes:* Freshmen depositing to enroll based on July data; this figure may differ from official 6th week enrollment figures.
25th Percentile 50th Percentile 75th Percentile Mean/Average
Endowed CollegesCollege of Arts & Sciences 1,155
College of Engineering 773
School of Hotel Administration 175
College of Architecture, Art & Planning 114
Contract CollegesCollege of Agriculture & Life Sciences 699
College of Human Ecology 277
School of Industrial and Labor Relations 163
FINANCIAL AID
Full-time first-year students 3,356 100.0%
Students who applied for aid 2,078 61.9%
Students determined to have financial need 1,692 50.4%
Students awarded financial aid 1,692 50.4%
Students receiving need-based scholarship/grant 1,630 48.6%
Average need-based scholarship/grant award from Cornell funds $33,099
Average loan amount offered in aid package $4,600
ETHNICITY AND RACE• 20.1% identify themselves as under-represented minorities (URM). URM is defined as American Indian/Alaska
Native, Black/African American, Native Hawaiian/Pacific Islander, or any combination including one or more of these cate-
gories. All students of Hispanic/Latino ethnicity, regardless of race, are also considered URM.
• 36.4% identify themselves as students of color (URM or Asian American).
U.S. Citizens, Permanent Residents, or Refugees
HISPANIC/LATINO ETHNICITY, OF ANY RACE 387 11.5%
NON-HISPANIC/LATINO ETHNICITY, BY RACE
American Indian or Alaska Native 7 0.2%
Asian American 549 16.4%
Black /African American 209 6.2%
Native Hawaiian or Pacific Islander 2 0.1%
White 1,382 41.2%
Bi-Multiracial, non-Hispanic/Latino URM 68 2.0%
Bi-Multiracial, not URM 71 2.1%
Not reported 332 9.9%
INTERNATIONAL, OF ANY ETHNICITY AND RACE 349 10.4%
GEOGRAPHIC DIVERSITYMembers of the Class of 2015 represent 45 different countries and reside in 48 of the 50 United States, plus Washington DC and Puerto Rico.
Regional Representation (by location of high school)
New York 993 29.6%
Mid-Atlantic 703 20.9%
Far West 415 12.4%
New England 358 10.7%
International 303 9.0%
Midwest 258 7.7%
Southeast 182 5.4%
Southwest 141 4.2%
Unknown 3 0.1%
50
Appendices
D CONT.
COMPARATIVE DATA: 2011 FALL FRESHMAN UNIVERSITY TOTALS
OverviewApplicants 3,479 32,908 36,387
Admits 1,227 5,311 6,538
Enrolling 1,180 2,176 3,356
WaitlistNumber of qualified applicants offered a place on the waitlist 2,982
Number accepting a place on the waitlist 1,846
Number admitted from the waitlist 0
Sat I Critical Reading750 - 800 14% 26% 16%
700 - 740 21% 29% 26%
650 - 690 23% 23% 27%
600 - 640 19% 14% 18%
550 - 590 12% 6% 8%
500 - 540 6% 2% 3%
Below 500 5% 0% 1%
Sat I Math750 - 800 36% 49% 40%
700 - 740 23% 24% 25%
650 - 690 19% 16% 18%
600 - 640 11% 8% 11%
550 - 590 6% 3% 4%
500 - 540 3% 1% 2%
Below 500 2% 0% 0%
High School Class RankTop tenth 74% 93% 89%
Top quarter 92% 98% 98%
Top half 98% 99% 99%
Notes:† Freshmen depositing to enroll based on July data; this figure may differ from official 6th week enrollment figures.
51
Appendices
D CONT.
Early Decision Regular Decision Total
Applicants Admits Enrolling †
52
Appendices
E
Undergraduate Tuition and Fees, Room and BoardIvy League, Peer, and Common Acceptance Institutions
Notes:• Institutions are ranked in descending order of rates for 2011-12.• Institutions with different resident and nonresident tuitions are indicated res. and nonres. respectively.• Common acceptance refers to institutions that had significant overlap with Cornell in the common acceptance of students who eventually
matriculated at Cornell rather than those other institutions.
Tuition & Mandatory Fees
Institution 10-11 11-12 %
Columbia $43,304 $45,290 4.6
Carnegie Mellon 41,940 44,010 4.9
Dartmouth 40,437 42,996 6.3
Tufts 41,598 42,962 3.3
Chicago 41,091 42,783 4.1
RPI 40,680 42,704 5.0
U. Pennsylvania 40,952 42,550 3.9
Johns Hopkins 40,680 42,280 3.9
Brown 40,820 42,230 3.5
Washington U. 40,369 41,992 4.0
Northwestern 40,223 41,983 4.4
Duke 40,243 41,938 4.2
Rochester 40,282 41,826 3.8
NYU 40,082 41,606 3.8
Cornell (Contract-nonres.) 39,666 41,541 4.7
Cornell (Endowed) 39,666 41,541 4.7
Boston U. 39,864 41,420 3.9
Georgetown 40,203 41,393 3.0
Stanford 39,534 40,926 3.5
MIT 39,212 40,732 3.9
Yale 38,300 40,500 5.7
Harvard 38,415 39,581 3.0
Princeton 37,420 37,865 1.2
U. Michigan (nonres.) 36,001 37,782 4.9
U. Virginia (nonres.) 33,574 36,578 8.9
UC-Berkeley (nonres.) 33,819 35,713 5.6
Michigan State (nonres.) 29,108 31,148 7.0
Pennsylvania State (nonres.) 27,114 28,066 3.5
Rutgers (nonres.) 24,022 25,417 5.8
Cornell (Contract-res.) 23,526 25,401 8.0
SUNY-Buffalo (nonres.) 15,546 16,299 4.8
SUNY-Binghamton (nonres.) 15,291 15,326 0.2
SUNY-Buffalo (res.) 7,136 7,519 5.4
SUNY-Binghamton (res.) 6,881 7,216 4.9
Tuition, Fees, Room & Board
Institution 10-11 11-12 %
NYU $53,592 $56,787 6.0
Columbia 53,876 56,310 4.5
Chicago 53,244 55,416 4.1
Dartmouth 52,275 55,365 5.9
Johns Hopkins 53,190 55,242 3.9
Carnegie Mellon 52,690 55,120 4.6
Washington U. 52,695 55,111 4.6
Georgetown 53,463 54,936 2.8
Northwestern 52,463 54,763 4.4
Cornell (Contract-nonres.) 52,316 54,701 4.6
Cornell (Endowed) 52,316 54,701 4.6
RPI 52,145 54,679 4.9
Tufts 52,866 54,474 3.0
U. Pennsylvania 52,382 54,428 3.9
Boston U. 52,124 54,130 3.8
Rochester 51,922 53,946 3.9
Duke 51,865 53,905 3.9
Stanford 51,410 53,217 3.5
Brown 51,360 53,136 3.5
Yale 49,800 52,700 5.8
MIT 50,446 52,507 4.1
Harvard 50,723 52,382 3.3
UC-Berkeley (nonres.) 49,127 50,703 3.2
Princeton 49,360 49,934 1.2
U. Michigan (nonres.) 45,193 47,250 4.6
U. Virginia (nonres.) 42,226 45,614 8.0
Michigan State (nonres.) 36,878 39,352 6.7
Cornell (Contract-res.) 36,176 38,561 6.6
Pennsylvania State (nonres.) 36,144 37,486 3.7
Rutgers (nonres.) 35,238 36,679 4.1
SUNY-Binghamton (nonres.) 26,535 27,136 2.3
SUNY-Buffalo (nonres.) 25,574 27,027 5.7
SUNY-Binghamton (res.) 18,125 19,026 5.0
SUNY-Buffalo (res.) 17,164 18,247 6.3
53
Appendices
F
Undergraduate Tuition and FeesSelected Public and Land-Grant Institutions
Resident
Institution 10-11 11-12 Percent
Cornell (Contract) $23,526 $25,401 8.0%
Pennsylvania State 15,250 15,984 4.8%
U. Vermont 14,066 14,784 5.1%
UC–Davis 11,958 13,860 15.9%
U. Illinois (Urbana) 13,096 13,838 5.7%
U. Minn. (Twin Cities) 12,288 13,022 6.0%
U. Mass. (Amherst) 11,917 12,797 7.4%
Michigan State 11,152 12,202 9.4%
U. Connecticut (Storrs) 10,416 10,670 2.4%
U. Texas (Austin) 9,416 9,794 4.0%
Ohio State (Columbus) 9,420 9,735 3.3%
U. Wisconsin (Madison) 8,983 9,665 7.6%
Indiana U. (Bloomington) 9,028 9,524 5.5%
Purdue 9,070 9,478 4.5%
Texas A & M 8,387 8,421 0.4%
SUNY-Buffalo 7,136 7,519 5.4%
Iowa State (Ames) 6,997 7,486 7.0%
SUNY-Binghamton 6,881 7,216 4.9%
SUNY-Albany 6,830 7,172 5.0%
Nonresident
Institution 10-11 11-12 Percent
Cornell (Contract) $39,666 $41,541 4.7%
UC–Davis 34,837 36,738 5.5%
U. Vermont 32,630 34,424 5.5%
U. Texas (Austin) 31,266 32,506 4.0%
Michigan State 29,108 31,148 7.0%
Indiana U. (Bloomington) 27,689 29,540 6.7%
Pennsylvania State 27,114 28,066 3.5%
U. Illinois (Urbana) 27,238 27,980 2.7%
Purdue 26,622 27,646 3.8%
U. Connecticut (Storrs) 26,880 27,566 2.6%
U. Mass. (Amherst) 23,813 25,585 7.4%
U. Wisconsin (Madison) 24,233 25,415 4.9%
Ohio State (Columbus) 23,604 24,630 4.3%
Texas A & M 22,817 23,811 4.4%
Iowa State (Ames) 18,563 19,358 4.3%
U. Minn. (Twin Cities) 16,588 18,022 8.6%
SUNY-Buffalo 15,546 16,299 4.8%
SUNY-Binghamton 15,291 15,326 0.2%
SUNY-Albany 15,240 15,282 0.3%
Tuition and FeesSelected Medical Colleges
Notes: • Institutions are ranked in descending order of rates for 2011-12.* Includes health fees and the cost of health insurance, whether waivable or not.
Tuition
Institution 10-11 11-12 Percent
Case Western 47,730 49,570 3.9%
Columbia 43,212 47,600 10.2%
Yale 45,600 47,560 4.3%
Harvard 45,050 47,500 5.4%
Washington Univ (St. Louis) 48,800 46,510 -4.7%
Duke 44,482 46,261 4.0%
Cornell 45,545 46,000 1.0%
Stanford 44,196 45,744 3.5%
Univ of Pennsylvania 43,960 45,498 3.5%
Pittsburgh (Non-Resident) 41,994 44,512 6.0%
Rochester 41,400 43,100 4.1%
Johns Hopkins 41,200 42,600 3.4%
Chicago Pritzker 40,627 42,294 4.1%
Tuition and Fees*
Institution 10-11 11-12 Percent
Cornell 52,774 53,267 0.9%
Columbia 50,962 52,657 3.3%
Univ of Pennsylvania 47,172 51,900 10.0%
Duke 47,703 51,424 7.8%
Case Western 49,050 51,062 4.1%
Harvard 48,517 51,043 5.2%
Yale 47,936 50,012 4.3%
Stanford 48,114 49,997 3.9%
Washington Univ (St. Louis) 48,800 49,480 1.4%
Pittsburgh (Non-Resident) 45,729 48,595 6.3%
Rochester 45,304 47,302 4.4%
John Hopkins 46,010 46,635 1.4%
Chicago Pritzker 41,452 45,852 10.6%
Average Nine-Month Faculty SalariesSelected Research Institutions
54
Appendices
G
Institution 91-92
Cal Tech 78,138
Harvard 73,717
Stanford 72,860
MIT 71,278
Princeton 70,193
Chicago 69,458
Yale 68,499
U. Pennsylvania 68,478
NYU 68,147
Rutgers 67,673
Columbia 67,363
Duke 67,169
Northwestern 66,974
Carnegie Mellon 66,374
USC 66,120
Georgetown 65,704
UC-Berkeley 65,239
UCLA 63,633
Cornell (Endowed) 63,624
U. Michigan 63,038
Johns Hopkins 62,976
UC-San Diego 61,282
Dartmouth 61,241
Cornell (Ithaca Campus) 60,205
Brown 59,094
U. Virginia 58,794
Ohio State 58,412
UC-Davis 58,308
U. Maryland 58,153
Penn State 57,449
U. Texas 56,911
Purdue 56,152
U. Illinois 55,801
Cornell (Contract) 55,619
U. North Carolina 55,412
U. Washington 54,695
U. Minnesota 54,286
Michigan State 54,045
U. Wisconsin 53,248
Texas A&M 52,592
Institution 01-02
Harvard 117,511
Stanford 111,077
U. Pennsylvania 109,473
Cal Tech 109,214
Princeton 108,248
Chicago 106,711
MIT 104,549
NYU 104,472
Yale 104,058
Columbia 103,598
Northwestern 102,316
Duke 99,747
UC-Berkeley 96,564
Cornell (Endowed) 95,833
UCLA 95,801
Carnegie Mellon 94,260
Dartmouth 93,021
USC 92,378
Georgetown 92,239
U. Michigan 92,220
U. Maryland 91,372
Cornell (Ithaca Campus) 89,434
U. Virginia 89,352
Rutgers 88,866
Johns Hopkins 88,685
UC-San Diego 88,194
U. North Carolina 87,846
U. Illinois 85,906
Brown 85,604
U. Minnesota 83,409
U. Texas 83,174
UC-Davis 83,149
Penn State 82,654
U. Wisconsin 81,239
Cornell (Contract) 80,821
Texas A&M 80,075
Ohio State 79,282
U. Washington 78,268
Michigan State 77,639
Purdue 77,354
Institution 11-12
Stanford 161,758
Harvard 160,672
Columbia 159,281
Chicago 157,169
Princeton 155,782
U. Pennsylvania 151,286
Cal Tech 148,406
NYU 146,163
MIT 144,746
Duke 143,768
Yale 143,750
Northwestern 141,518
Georgetown 137,555
Cornell (Endowed) 136,260
Dartmouth 133,812
UCLA 133,324
Cornell (Ithaca Campus) 130,982
USC 130,347
UC-Berkeley 128,923
Brown 127,047
Cornell (Contract) 123,284
U. Michigan 123,145
Carnegie Mellon 122,692
Rutgers 119,704
U. North Carolina 118,552
U. Virginia 117,333
UC-San Diego 117,143
U. Texas 116,254
U. Maryland 115,367
U. Illinois 113,418
Ohio State 112,083
Penn State 109,813
UC-Davis 109,778
Michigan State 106,615
U. Minnesota 106,160
Purdue 106,097
U. Washington 105,150
Texas A&M 101,046
U. Wisconsin 99,883
Johns Hopkins *
Notes:• The average salary (excluding extra pay and summer compensation) for each institution (including Cornell's contract colleges) was computed by
weighting the mean salary by academic rank for the number of endowed Ithaca faculty in those ranks. Twelve-month salaries were converted to anine-month appointment basis.
* Did not participate in the 2011-12 salary survey that was published in Academe, March-April 2012.
55
Appendices
H
Undergraduate Financial Aid
Source of Funding for Undergraduate Financial Aid(dollars in thousands)
FAMILY CONTRIBUTION
1. Parental 22,189 88,082 88,000 95,472 97,858 2.5% 6.1%
2. Student 7,819 21,256 21,300 22,712 23,280 2.5% 4.5%
3. Subtotal 30,008 109,338 109,300 118,184 121,138 2.5% 5.7%
FEDERAL GOVERNMENT
4. Grants 5,143 13,898 12,461 12,645 12,584 (0.5%) 3.6%
5. Loans 11,192 18,158 18,460 20,490 20,500 0.0% 2.5%
6. Work/Study 2,769 4,237 4,250 4,621 4,600 (0.5%) 2.1%
7. Subtotal 19,104 36,293 35,171 37,756 37,684 (0.2%) 2.8%
STATE GOVERNMENT
8. Grants 4,903 4,633 4,630 4,757 4,700 (1.2%) (0.2%)
9. Work/Study 692 0 0 0 0
10. Subtotal 5,595 4,633 4,630 4,757 4,700 (1.2%) (0.7%)
OTHER EXTERNAL11. Grants 2,663 5,482 5,935 5,881 6,195 5.3% 3.4%
12. Subtotal 2,663 5,482 5,935 5,881 6,195 5.3% 3.4%
CORNELL
13. Unrestricted Grants 12,751 168,384 190,029 177,970 199,471 12.1% 11.6%
14. Restricted Grants 7,770 30,911 31,510 46,854 46,253 (1.3%) 7.4%
15. Loans 130 1,266 1,300 1,247 1,250 0.2% 9.5%
16. Work/Study 1,846 4,237 4,250 4,621 4,600 (0.5%) 3.7%
17. Subtotal 22,497 204,798 227,089 230,692 251,574 9.1% 10.1%
18. Total 79,867 360,544 382,125 397,270 421,291 6.0% 6.9%
Financial Aid Population(on - and off-campus)
UNDERGRADUATE STUDENT COUNTS
1. Total Enrollment 12,958 13,935 13,808 14,167 14,019 (1.0%) 0.3%
2. Overall Financial Aid Population N/A 8,934 8,900 9,008 9,010 0.0%
3. % of Total Enrollment 64.1% 64.5% 63.6% 64.5%
4. Need-based Financial Aid Population 5,137 8,055 8,100 8,490 8,500 0.1% 2.0%
5. % of Total Enrollment 39.6% 57.8% 58.7% 59.9% 60.8%
6. Cornell Grant Recipients * 3,815 7,023 7,050 7,216 7,200 (0.2%) 2.6%
7. % of Total Enrollment 29.4% 50.4% 51.1% 50.9% 51.5%
8. Pell Grant Recipients † 1,820 2,452 2,450 2,484 2,480 (0.2%) 1.2%
9. % of Total Enrollment 14.0% 17.6% 17.7% 17.5% 17.8%
Notes:● Family contribution amounts are for students who demonstrate a financial need according to Cornell's methodology. Financial aid amounts are
shown as computed and awarded.● Enrollments exclude in-absentia and extramural students.* Cornell-grant recipients are those U.S. citizens and permanent residents (excluding international students) who receive need-based grant aid
from Cornell resources.† The number of Pell Grant recipients for fall 1987 is estimated based on the total funding received by Cornell in that year and the national
average of Pell Grant awards.
87-88Actual
10-11Actual
11-12Plan
11-12Forecast
12-13Plan
Change from Forecast to
Plan
AnnualGrowth Rate
from87-88
87-88Actual
10-11Actual
11-12Plan
11-12Forecast
12-13Plan
Change from Forecast to
Plan
AnnualGrowth Rate
from87-88
New York State Appropriations
Sources of Funding(dollars in thousands)
ITHACA CAMPUS
1. Original Base Appropriation Through SUNY 146,927 133,875 133,875 121,232
SUNY/CORNELL NEGOTIATED/PLANNED INCREASES
2. For Inflation and fixed costs 0 0 0 0
3. Subtotal Base Appropriation (prior to legislative actions) 146,927 133,875 133,875 121,232
4. SUNY-Initiated Adjustments (11,766) (12,643) (12,643) 0
5. Other Adjustments/Reclassifications 173 173 173 173 (Land Script/Canine Research)
6. Mid-Year Reduction (1,458)
7. Subtotal Base Enacted Budget 133,876 121,405 121,405 121,405
8. Empire Innovation 1,599 1,599 1,403 1,403
9. Revised Base Appropriation 135,475 123,004 122,808 122,808
ADDITIONAL PLANNED STATE FUNDING THROUGH SUNY
10. Cooperative Extension (support for County Associations) 3,909 3,920 3,920 4,220
11. Institute for Community College (ICCD) † 247 222 0 0
12. SUNY Program Support (academic equipment/fellowships) 1,410 1,308 1,308 1,308
13. U-Wide - Operating Support - Veterinary Medicine 250
14. SUCF Critical Maintenance In-Year Funds 3,219 2,700 2,700 3,734
15. Subtotal of Additional State Funding 8,785 8,150 7,928 9,512
16. Total State Appropriations Through SUNY 144,260 131,154 130,736 132,320
OTHER STATE APPROPRIATIONS
17. Bundy Aid (based on degrees granted) 1,528 1,375 1,527 1,330
18. Total Ithaca Campus 145,788 132,529 132,263 133,650
MEDICAL COLLEGE
19. Bundy Aid (based on degrees granted) 211 123 123 124
20. Total Medical College 211 123 123 124
21. Total State Appropriations 145,999 132,652 132,386 133,774
Notes: • Cornell receives New York State appropriations through the State University of New York (SUNY) and directly from the state.
Most appropriations flow through SUNY.• Not represented on this schedule are certain student financial aid funds and grants and contracts with state agencies. The schedule also ex-
cludes the value of employee benefits provided by New York State and debt service on facilities provided through SUNY, neither of which isrecorded by Cornell.
* Mandated in-year budget reduction. † ICCD transferred to Syracuse University during FY12.
10-11Actual
11-12Budget
11-12Forecast
12-13Plan
56
Appendices
I
*
57
Appendices
J
Facilities and Administrative Costs and Employee Benefits Billing Rates
Facilities and Administrative Cost Rates
ENDOWED ITHACA
1. On-Campus 58.00 59.00 59.00 59.00 59.00 59.00 60.00
2. Off-Campus 26.00 26.00 26.00 26.00 26.00 26.00 26.00
3. Off-Campus – Arecibo Observatory 11.00 11.00 11.00 11.00 11.00 11.00 ¥
4. Other Sponsored Activity 37.00 37.00
5. Other Restricted Funds 10.00 10.00 10.00 10.00 10.00 10.00 10.00
CONTRACT COLLEGES
6. On-Campus – Research 53.50 53.50 54.00 54.00 54.00 54.00 54.00
7. Off-Campus – Research 26.00 26.00 26.00 26.00 26.00 26.00 26.00
8. On-Campus – Educational Services 56.70 56.70 56.70 56.70 56.70 56.70 59.00
9. Off-Campus – Educational Services 26.00 26.00 26.00 26.00 26.00 26.00 26.00
10. New York State 18.00 18.00 18.00 18.00 18.00 18.00 18.00
11. Other Restricted Funds 10.00 10.00 10.00 10.00 10.00 10.00 10.00
MEDICAL CAMPUS
12. On-Campus 68.00 68.00 68.00 69.00 69.00 69.00 69.00
13. Westchester 38.00 38.00 42.00 42.00 42.00 42.00 42.00
14. Clinical Research Center 42.00 42.00 44.00 44.00 44.00 44.00 44.00
15. Other Sponsored Research 0.00 30.00 30.00 30.00 30.00 30.00 30.00
16. Off-Campus 26.00 26.00 26.00 26.00 26.00 26.00 26.00
17. Other Restricted Funds 25.00 25.00 25.00 25.00 25.00 25.00 25.00
18. Industrial Agreements – Clinical Trials 33.00 33.00 33.00 33.00 33.00 33.00 33.00
19. Industrial Agreements – Research 68.00 68.00 68.00 69.00 69.00 69.00 69.00
Employee Benefits Rates
ENDOWED ITHACA
1. Full 33.00 33.00 33.00 34.00 34.00 35.00 36.00
2. Minimum 10.00 10.00 10.00 10.00 10.00 10.00 10.00
3. Zero 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CONTRACT COLLEGES*
4. Federally Reimbursed (restricted funds) 45.60 47.60 45.10 44.30 46.60 46.60 53.00
5. All Other Funds (where applicable) 50.27 51.44 50.73 48.96 53.02 52.72 56.50
MEDICAL CAMPUS
6. General 29.40 29.60 29.60 29.60 29.60 31.50 31.50
7. Postdoctoral Fellow 20.00 20.00 21.00 20.00 21.00 22.00 22.00
8. NRSA Postdoctoral Fellow 0.00 0.00 0.00 0.00 0.00 0.00 0.00
9. Temporary Employee and Student 8.50 8.50 9.00 9.00 9.00 9.50 9.50
Notes:• Shown are the billing rates, expressed as percentages, used in each fiscal year; actual cost rates vary.• Endowed Ithaca has three employee benefit billing rates: (a) the full rate is used for most benefit-eligible employees; (b) a minimum rate is used
when only mandated benefits are provided or when tips or pension-ineligible bonus payments are made; and (c) a zero rate is applied in limitedsituations, such as in the case of academic-year student wage payments, where the cost of any benefits provided is negligible.
* The 2012-13 contract college benefits rates are estimated pending submission to the Department of Health and Human Services for incorporationin the university's rate agreements. The 2011-12 values shown are actual rates.
¥ Arecibo Observatory transferred to another operator effective 10/1/2011.
06-07 07-08 08-09 09-10 10-11 11-12 12-13
Investment Assets, Returns, and Payouts
Investments at Fair Value(dollars in thousands at year end)
1. Working Capital $0 0.0% $0 0.0% $0
2. Intermediate-Term 605,794 10.8% 653,496 10.3% 47,702
3. Long-Term Investment Pool (LTIP) 4,223,208 74.9% 4,921,840 77.5% 698,632
4. Separately Invested Portfolio 477,033 8.5% 506,437 8.0% 29,404
5. Pooled Life Income Funds 12,048 0.2% 11,817 0.2% (231)
6. Other * 315,101 5.6% 254,637 4.0% (60,464)
7. Total 5,633,184 100.0% 6,348,227 100.0% 715,043
Note: * A major portion of other investments are DASNY (Dormitory Authority of State of New York) holdings, which include bond proceeds held at
custodial bank and certain debt service reserves.
Endowment Net Assets(dollars in thousands at year end)
1. True Endowment $2,795,950 $3,274,626 $478,676 17.1%
2. Funds Functioning as Endowment 1,464,000 1,653,444 189,444 12.9%
3. Subtotal Under Cornell Management 4,259,950 4,928,070 668,120 15.7%
4. Funds Held in Trust by Others * 118,637 131,336 12,699 10.7%
5. Subtotal Funds External to Cornell 118,637 131,336 12,699 10.7%
6. Total University Endowment 4,378,587 5,059,406 680,819 15.5%
Note: * Funds that the university neither possesses nor controls but which provide Cornell income.
Long Term Pool Payout1. Market Value (per share) $66.62 $65.37 $45.12 $47.38 $53.58
2. Annualized Total Gross Return 26.1% 3.0% (25.9%) 12.7% 20.2%
3. Number of Shares (in millions) 78.0 82.3 84.1 89.1 91.9
4. Payout per Share $2.42 $2.66 $3.00 $2.55 $2.20
5. Shareholder Payout (in millions) $185.51 $213.05 $250.68 $217.15 $198.75
6. Payout as a % of 6/30 Market Value 3.6% 4.1% 6.6% 5.4% 4.1%
7. Total Spending per Share $2.85 $3.16 $3.53 $3.28 $3.01
8. Total Spending (in millions) $222.32 $259.61 $296.82 $292.00 $276.59
9. Spending as a % of 6/30 Market Value 4.3% 4.8% 7.8% 6.9% 5.6%
Note:• Total returns net of investment management fees for 2006-07, 2007-08, 2008-09, 2009-10 and 2010-11 were 25.9%, 2.7%, -26%, 12.6%
and 19.9% respectively.
6/30/10Total
Percentof Total
6/30/11Total
Percentof Total
Changefrom
6/30/10
6/30/07Actual
6/30/08Actual
6/30/09Actual
6/30/10Actual 6/30/11 Actual
6/30/10 6/30/11 Change Percent Change
58
Appendices
K
59
Appendices
L
Endowment Market Value for Selected Institutions(dollars in millions)
Notes:• Institutions are ranked in descending order of endowment market value.• Endowment market value reflects the net impact of withdrawals to fund institutional operations and capital expenses; the payment of
endowment management and investment fees; additions from donor gifts and other contributions; and investment gains or losses. Market value also includes the estimated valuations of real estate and other “illiquid” assets.
Sources: 2011 NACUBO - Commonfund Study of Endowments and 2002 NACUBO Endowment Study.
Institution 00-01
Harvard 17,951
Yale 10,725
U. of Texas System 9,364
Princeton 8,359
Stanford 8,250
MIT 6,135
U. of California System 4,703
Emory 4,316
Columbia 4,293
Texas A&M System 4,031
Washington U. 3,952
U. of Michigan 3,614
U. of Chicago 3,516
U. of Pennsylvania 3,382
Northwestern 3,256
Rice 3,243
Cornell 3,151
Duke 3,131
Dartmouth 2,414
Vanderbilt 2,160
Johns Hopkins 1,823
Brown 1,434
Rochester 1,245
Carnegie Mellon 757
Boston U. 665
RPI 619
Tufts 549
Institution 09-10
Harvard 27,557
Yale 16,652
Princeton 14,391
U. of Texas System 14,052
Stanford 13,851
MIT 8,317
U. of Michigan 6,564
Columbia 6,517
Northwestern 5,945
Texas A&M System 5,738
U. of Pennsylvania 5,669
U. of Chicago 5,543
U. of California System 5,441
Duke 4,824
Emory 4,694
Washington U. 4,473
Cornell 4,379
Rice 3,787
Vanderbilt 3,044
Dartmouth 2,998
Johns Hopkins 2,220
Brown 2,155
Rochester 1,368
Tufts 1,214
Boston U. 992
Carnegie Mellon 815
RPI 630
Institution 10-11
Harvard 31,728
Yale 19,374
U. of Texas System 17,149
Princeton 17,110
Stanford 16,503
MIT 9,713
U. of Michigan 7,835
Columbia 7,790
Northwestern 7,183
Texas A&M System 7,000
U. of Pennsylvania 6,582
U. of Chicago 6,575
U. of California System 6,342
Duke 5,747
Emory 5,400
Washington U. 5,280
Cornell 5,059
Rice 4,451
Vanderbilt 3,415
Dartmouth 3,413
Johns Hopkins 2,598
Brown 2,497
Rochester 1,623
Tufts 1,404
Boston U. 1,160
Carnegie Mellon 1,017
RPI 622
Gifts/Contributions - Through March 31, 2012
Reconciliation of Contributions to Cash Gifts(dollars in thousands)
OPERATING REVENUE
1. Unrestricted 35,460 35,840 - 71,300 44,985
2. Temporarily Restricted 45,203 71,125 - 116,328 134,743
3. Funds Functioning as Endowment * 552 4,747 - 5,299 6,331
4. Subtotal 81,215 111,712 - 192,927 186,059
NON-OPERATING REVENUE
5. True Endowment 48,405 17,267 - 65,672 37,472
6. Funds Functioning as Endowment § 86 19 4,667 4,772 9,661
7. Life Income Funds 4,540 454 - 4,994 2,358
8. Trusts Held by Others 1,059 - 1,059 4,897
9. Loan Funds - 77 - 77 166
10. Capital Acquisitions ∞ 361,096 (45,865) - 315,231 18,045
11. Capital Acquisitions - Gifts in Kind - - - - 2,992
12. Subtotal 415,186 (28,048) 4,667 391,805 75,591
13. Financial Statement Total 496,401 83,664 4,667 584,732 261,650
ADJUSTMENTS
14. Gifts from Outside Trusts (1,059) - - (1,059) (4,897)
15. Pledges (Net Present Value) (345,726) (2,880) - (348,606) (30,218)
16. Timing 5,084 453 - 5,537 (12,780)
17. Total Adjustments (341,701) (2,427) - (344,128) (47,895)
18. Gift Records Total 154,700 81,237 4,667 240,604 213,755
Notes:• This table reconciles the differences (line 13 through 18) between contributions as displayed in the financial statement (line 13)
and cash gifts as reported by Alumni Affairs and Development (line 18). The largest of these adjustments (positive or negative )are often changes in the net present value of pledges (line 15) and timing differences in the recording of gifts between the twosystems (line 16).
• Line 14 shows the net difference in valuation of gifts from outside trust agreements that are recorded in the contributors relationssystem at full value and may be reflected at present value in the financial statements. Line 15 reflects the pledge net present value of relations system. Line 16 identifies other periodic adjustments.
• Some of these exclusions—all of which are based on reporting standards appropriate for each record—are entire (e.g., the inclusionof pledges in the financial statements and the exclusion of such promises from the cash gifts of the contributor relations system).Others are partial (e.g., the recognition in the financial statements of the interest that beneficiaries may have in split-interest agreements).
† The Cornell University Foundation is a service for Cornell alumni and friends who wish to make charitable gifts through the structure of a donor-advised fund.
* Unrestricted funds functioning as endowment are classified as operating revenues.§ Restricted funds functioning as endowment continue to be classified as non-operating revenues.∞ Capital acquisitions includes a net pledge amount of $312 million for the CornellNYC Tech campus.
IthacaCampus
MedicalCollege
Cornell Foundation †
11-12Year to Date
10-11Year to Date
March 31
60
Appendices
M
61
Appendices
N
Cornell Now Campaign - Through March 31, 2012
Gifts Raised - Ithaca Campus *(dollars in thousands)
CAMPAIGN GOALS1. Endowment faculty positions, various fields $9,4592. Faculty Renewal $22,7333. Faculty Diversity4. International Programs5. Ithaca-Weill Joint Programs6. Life Sciences $57. Economics8. Institute for Social Sciences9. Business and Management Sciences $5,21310. Humanities and the Fine Arts $2,20011. Sustainable Development, Energy, Environment $46012. Library Collections13. Other program support, Ithaca campus $62,75814. Subtotal Faculty & Program Support $489,400 $102,828 21.0%
15. Undergraduate Financial Aid $57,15816. International Undergraduate Scholarships $1,45817. Graduate Fellow/Professional School Scholarships $20,87018. Educational Excellence $6319. Service Learning and Public Engagement $1,63520. Other program support for students $13,40421. Subtotal Student $432,000 $94,588 21.9%
22. Humanities $63,20623. Gates Hall $13,57724. Physical Sciences Building $49425. Milstein Hall $2,61026. Other $21,06327. Subtotal Facilities $88,600 $100,950 113.9%
28. Cornell Annual Fund $45,11029. Current Use Program Support $170,84930. Subtotal Unrestricted $490,000 $215,959 44.1%
31. Campaign Goals Total $1,500,000 $514,325 34.3%
COLLEGE AND UNIT TARGETS1. Agriculture & Life Sciences $125,000 $45,263 36.2%2. Architecture, Art & Planning $30,000 $8,785 29.3%3. Arts & Sciences $225,000 $104,089 46.3%4. Athletics $50,000 $28,738 57.5%5. Computing & Information Sciences $35,000 $16,135 46.1%6. Cornell Library $25,000 $8,110 32.4%7. Engineering $185,000 $45,627 24.7%8. General University $305,000 $118,877 39.0%9. Hotel Administration $55,000 $27,555 50.1%10. Human Ecology $30,000 $7,798 26.0%11. Industrial & Labor Relations $60,000 $12,126 20.2%12. Johnson Art Museum $30,000 $7,268 24.2%13. Johnson School $95,000 $24,451 25.7%14. Lab of Ornithology $125,000 $19,373 15.5%15. Law School $35,000 $9,312 26.6%16. Student & Academic Services $15,000 $8,306 55.4%17. Veterinary Medicine $75,000 $22,512 30.0%18. College and Unit Targets Total $1,500,000 $514,325 34.3%
Notes:* This table shows progress vs. the Cornell Now expanded campaign priorities announced in October 2011. University progress vs. the expanded
total goal of $4.75 billion stands at $3.89 billion through March 31, 2011.
Goal/TargetRaised through
3/31/12Percent ofGoal/Target
Projected Maintenance Funding - Ithaca Campus
Maintenance Inventory(dollars in millions)
ENDOWED ITHACA
1. Beginning Inventory $173.4 $182.3 $232.0 $256.3 $273.0 $290.3 $310.0
2. Maintenance Projects 27.2 66.6 38.6 40.0 41.1 42.3 43.5
3. Operational Funding (15.1) (13.7) (11.6) (14.4) (15.9) (16.3) (8.7)
4. Capital Funding (3.2) (3.2) (2.7) (8.8) (8.0) (6.3) (0.3)
5. Year-End Inventory $182.3 $232.0 $256.3 $273.0 $290.3 $310.0 $344.6
RESIDENCE FACILITIES
6. Beginning Inventory $88.9 $95.4 $97.7 $103.4 $108.9 $114.8 $122.6
7. Maintenance Projects 13.3 13.8 14.5 14.7 14.9 15.5 15.8
8. Operational Funding (5.1) (5.5) (5.6) (5.8) (6.0) (6.2) (6.3)
9. Capital Funding (1.7) (6.0) (3.2) (3.4) (3.0) (1.5) (2.8)
10. Year-End Inventory $95.4 $97.7 $103.4 $108.9 $114.8 $122.6 $129.3
CONTRACT COLLEGES
11. Beginning Inventory $154.1 $150.9 $226.0 $252.3 $250.9 $265.7 $281.6
12. Maintenance Projects 30.0 90.1 40.3 36.7 37.2 38.3 39.3
13. Operational Funding (6.1) (5.7) (5.5) (5.1) (5.2) (5.3) (5.4)
14. Capital Funding (27.0) (9.4) (8.6) (32.9) (17.1) (17.1) (16.7)
15. Year-End Inventory $150.9 $226.0 $252.3 $250.9 $265.7 $281.6 $298.7
ITHACA CAMPUS TOTAL
16. Beginning Inventory $416.4 $428.6 $555.7 $611.9 $632.8 $670.8 $714.1
17. Maintenance Projects 70.5 170.5 93.4 91.3 93.2 96.0 98.7
18. Operational Funding (26.3) (24.9) (22.7) (25.4) (27.1) (27.8) (20.4)
19. Capital Funding (32.0) (18.5) (14.5) (45.1) (28.1) (24.9) (19.8)
20. Year-End Inventory $428.6 $555.7 $611.9 $632.8 $670.8 $714.1 $772.6
Notes:● This table provides a projection of building maintenance activity, the funding of maintenance costs from operating and capital plans, and
the inventory of unfunded maintenance for the Ithaca campus through 2016-17. Excluded are utilities, parking, and information technology projects. The projected year-end inventory of unfunded maintenance is for planning purposes only, and illustrates the potential need for maintenance resources beyond those already identified in operating and capital plans.
● There are three categories of building maintenance: routine, preventive, and planned. Maintenance needs and projects are identified annually.Most routine and preventive activities are funded and completed. Some planned maintenance is deferred due to timing issues or lack of funding.
● The lines labeled maintenance projects include routine and preventive activities and additions to the planned maintenance inventory. The projection of such projects through 2016-17 was made using a model developed by the Association of Higher Education Facilities Officers.
● Operational funding is that portion of total maintenance funding that is expended on routine and preventive activities and planned maintenance,and includes the use of operating reserves. It excludes certain administrative costs and debt.
● Capital funding is from projects in the capital plan, not all of which have been approved or funded. The impact of capital funding is shown in the year that the project is expected to be completed.
Actual10-11
Forecast11-12
Plan12-13
Proj.13-14
Proj.14-15
Proj.15-16
Proj.16-17
62
Appendices
O
63
Appendices
P
Work Force – Ithaca Campus
2011-12 Ithaca Campus Work Force Distribution
1. Agriculture & Life Sciences 362 327 1,054 1,743 1.53
2. Architecture, Art & Planning 48 12 46 106 0.77
3. Arts & Sciences 523 183 285 991 0.40
4. Engineering 227 61 174 462 0.60
5. Hotel Administration 42 20 246 308 3.97
6. Human Ecology 94 79 212 385 1.23
7. Industrial & Labor Relations 58 55 137 250 1.21
8. Johnson School 50 23 96 169 1.32
9. Law School 52 2 77 131 1.43
10. Veterinary Medicine 124 119 606 849 2.49
11. Subtotal Colleges 1,580 881 2,933 5,394 1.19
12. Research Centers 102 265 367 2.60
13. Other Academic Programs 16 102 579 697 4.91
14. Subtotal Other Centers 16 204 844 1,064 3.84
15. Total Academic Units 1,596 1,085 3,777 6,458 1.41
16. Student Services 12 1,074 1,086
17. Administrative & Support 1,329 1,329
18. Physical Plant 769 769
19. Subtotal Support 0 12 3,172 3,184
20. Total Work Force 1,596 1,097 6,949 9,642 2.58
Change In Support Staff
1. Agriculture & Life Sciences 1,155 1,088 1,060 1,054 (101) -8.74%
2. Architecture, Art & Planning 51 47 43 46 (5) -9.80%
3. Arts & Sciences 301 287 282 285 (16) -5.32%
4. Engineering 202 173 162 174 (28) -13.86%
5. Hotel Administration 272 246 244 246 (26) -9.56%
6. Human Ecology 184 187 240 212 28 15.22%
7. Industrial & Labor Relations 160 137 135 137 (23) -14.38%
8. Johnson School 103 86 88 96 (7) -6.80%
9. Law School 71 70 72 77 6 8.45%
10. Veterinary Medicine 729 652 604 606 (123) -16.87%
11. Subtotal Colleges 3,228 2,973 2,930 2,933 (295) -9.14%
12. Research Centers 269 260 272 265 (4) -1.49%
13. Other Academic Programs 689 616 604 579 (110) -15.97%
14. Subtotal Other Centers 958 876 876 844 (114) -11.90%
15. Total Academic Units 4,186 3,849 3,806 3,777 (409) -9.77%
16. Student Services 1,162 1,057 1,049 1,074 (88) -7.57%
17. Administrative & Support 1,525 1,361 1,323 1,329 (196) -12.85%
18. Physical Plant 834 771 783 769 (65) -7.79%
19. Subtotal Support 3,521 3,189 3,155 3,172 (349) -9.91%
20. Total Support Staff 7,707 7,038 6,961 6,949 (758) -9.84%
Notes: • Source - Institutional Research and Planning using the HR/Payroll System and the Academic Personnel Database. All figures are as of November
1st for each year. Support staff figures for 2008-09 through 2010-11 have changed slightly from last year as a result of this date change.
Faculty OtherSupport
Staff Total
Ratio ofSupport toAcademic
Academic Staff
2008-09 2009-10 2010-11 2011-12 Number PercentChange from 08-09
Notes:Institutions are ranked in descending order of rates for 2011-12.* Room rates shown represent average double occupancy for undergraduates.† Board rates shown generally represent full meal plans, providing 18 to 21 meals per week.‡ Cornell rates shown are for the Traditional 14 Meals Per Week Plus $800 Declining Balance Plan.
Cornell University
ROOM RATES
1. Undergraduate – Average Double $6,680 $6,950 $7,210 $7,500 $7,800 $8,110 4.0%
2. Undergraduate – Average All Types 7,015 7,320 7,594 7,885 8,200 8,530 4.0%
3. All Students – Average Double 6,680 6,950 7,210 7,500 7,800 8,110 4.0%
BOARD RATES
4. Full Meal Plan ◊ 4,510 4,690 4,900 5,100 5,310 5,520 4.0%
5. Administrative Fee § 50 50 50 50 50 50 0.0%
Notes: ◊ The 09-10 through 12-13 rates shown are for the Traditional 14 Meals Per Week Plus $800 Declining Balance Plan.§ Nonrefundable administrative fee that is charged to participants in the meal plans that covers the cost of flexible enrollment, allowing
students to change, add, and drop meal plans. The fee funds the tracking and processing system used to record and monitor changes.
ROOM RATES*
Institution 10-11 11-12 %
NYU $9,350 $10,876 16.3
Harvard 7,525 7,811 3.8
Cornell 7,500 7,800 4.0
U. Pennsylvania 7,248 7,592 4.7
SUNY-Binghamton 7,036 7,528 7.0
Johns Hopkins 7,150 7,408 3.6
Dartmouth 7,077 7,395 4.5
MIT 6,884 7,275 5.7
Northwestern 6,963 7,270 4.4
Stanford 6,700 7,012 4.7
Brown 6,522 6,748 3.5
Yale 6,300 6,700 6.3
Duke 6,502 6,697 3.0
Princeton 6,467 6,596 2.0
Columbia 6,170 6,432 4.2
BOARD RATES†
Institution 10-11 11-12 %
Johns Hopkins $5,360 $5,554 3.6
Northwestern 5,277 5,510 4.4
Yale 5,200 5,500 5.8
Princeton 5,473 5,473 0.0
Cornell ‡ 5,150 5,360 4.1
Stanford 5,176 5,279 2.0
Duke 5,120 5,270 2.9
Harvard 4,783 4,990 4.3
Dartmouth 4,761 4,974 4.5
Columbia 4,402 4,588 4.2
MIT 4,350 4,500 3.4
NYU 4,160 4,306 3.5
U. Pennsylvania 4,182 4,286 2.5
SUNY-Binghamton 4,208 4,282 1.8
Brown 4,018 4,158 3.5
07-08 08-09 09-10 10-11 11-12 12-13Change
from 11-12
64
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Room and Board Rates - Ithaca Campus
Selected Institutions
65
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Ithaca Campus Faculty Peers by College(Ivy peers shown in red)
AAP A&S CALS CIS ENG HE HOTEL ILR Johnson Law Vet
Arizona •
Brown • • • •
Cal Tech • •
Carnegie Mellon • • • •
Chicago • • • • •
Colorado State •
Columbia • • • • •
Dartmouth •
Duke • • • • •
Emory •
Florida • •
Georgia Tech • •
Harvard • • • • •
Illinois • • • • • • • • •
Iowa State • •
Maryland •
Michigan • • • • • • •
Michigan State • •
Minnesota • • •
Missouri •
MIT • • • • •
Nebraska • •
NC-Chapel Hill • •
Northwestern • • • •
NYU • • • •
Ohio State • •
Penn • • • • • • •
Penn State • • •
Princeton • • • • • •
Purdue • •
Rice • •
Rutgers • •
Stanford • • • • • • • •
Texas • • • • •
Texas A&M •
UC Berkeley • • • • • • • • • •
UC Davis • • •
UCLA • • • • • • •
UC San Diego •
USC • • • •
U Washington • • • •
Vanderbilt • •
Virginia • • • • •
Washington U • • • •
Wisconsin • • • • •
Yale • • • • •
Specific capital projects may move forward with the following restrictions.
• With a very preliminary cost estimate, a unit may request to spend a limited amount of its own existing funds
through the normal PAR process, to the extent necessary to conceptually develop and size a project idea for the
purpose of advancing discussion for possible inclusion in the university’s approved five-year capital plan.
• Before any formal design or construction work begins, the project must be included in the university’s approved
five-year capital plan.
• Before inclusion in the university’s approved five-year capital plan, the project must contain a submitted and
approved funding strategy which may not rely on uncertain sources of funding (e.g., gifts to be raised, grant pro-
posals, future New York State capital plans) and which must include: 1) the full anticipated cost of the project,
including construction, architectural and design fees, equipment, contingencies, etc.; 2) the incremental annual
cost of ongoing operations and maintenance for the facility; and 3) any other relevant information. Because
funding sources are as diverse as university projects, each project’s funding strategy should be developed with
consideration given to both the project’s merit and university priorities. Funding guidelines are as follows:
- The balance sheet expendable resources to debt ratio must always be greater than 2.0. If a new project is
added to the plan and brings the university below the minimum ratio, a trade-off decision must be made.
• Until the university returns to the minimum expendable resources to debt ratio, there are no
funds for long or short term (bridge financing) debt.
- No more than 50% of any capital project should be debt-financed unless the project is a life-safety or
major infrastructure priority. Auxiliary enterprises, such as dorms, will be evaluated based on overall
debt capacity;
- Academic facilities should be at least 50% funded by available resources such as unit reserves, philan-
thropy, or other sources;
- Non-curriculum and non-research facilities (e.g., the Johnson Art Museum, the Plantations, etc.) will
be expected to fund 100% by available resources such as unit reserves, philanthropy, or other sources;
- Unit reserves identified as a source of funding must be “earmarked”, or set aside in an account
committed to this use until such time as they may be replaced with other sources of funding or are
otherwise no longer required.
- General feasibility of planned fundraising must be approved by the Vice President for Alumni Affairs
and Development or the Vice Provost for Development at the medical college;
• The sources for any additional operations and maintenance payments must be identified, in writing.
• A project not included in the annual approved five-year capital plan may be brought forward for consideration
as an addition to the capital plan if a full funding plan is identified between plan cycles. This determination will
be made by the Capital Planning Group (CPG) and Capital Funding & Priorities Committee (CF&PC).
• Once included in the university’s approved five-year capital plan, preliminary work may be authorized through
the schematic design phase if funded by existing available resources. Continuation of design work beyond
schematic design and prior to approval of the construction phase may be permitted through the consideration
and approval of CPG and CF&PC.
Capital Project Spending Guidelines
66
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67
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• Before a project’s construction phase is permitted to begin, the following must be true:
- All funds within the funding strategy must be committed in writing for 100% of project cost,
including debt;
• At least 75% of gifts planned must be cash-in-hand
• Committed New York State funds must include an assessment of certainty of funding
• A utility or other rate-recovery project must include 1) a detailed statement of expected cash
flow, indicating whether short-term debt is required, and 2) a rate impact analysis approved by
the CFO and VP for Planning and Budget.
- Fundraising must be complete before construction begins or an approved “backstop” plan must be
in place;
- The majority of the gift pledges must be scheduled to be collected within five years of the start of
construction;
- If there is debt funding:
• The project must establish and document the maximum project debt allowed, and include the
CFO’s written evaluation of the impact of the terms of the debt on the university’s balance sheet.
• The project must identify and disclose, in writing, sources of the debt payment. If there is a planned incremental
revenue stream for this purpose, this disclosure should include any incremental program-related investments,
(such as faculty hiring costs or the additional overhead revenue), and their associated assumptions.
Departure from these guidelines is permissible only in exceptional circumstances, as determined by the President
and the Provost after recommendation from the CF&PC.
INTENTDevelop a standard process, including standardized documentation, to assess existing space utilization and
analyze space needs.
OUTCOMES1. Create a consistent framework, based on Cornell standards, policies and institutional data-of-record.
2. Exercise due diligence in the assessment of existing utilization as well as the establishment of space needs.
3. Integrate programmatic mission and strategic objectives into the space planning process.
4. Measure the space program development through the course of a project against the original space
program objectives.
5. Create transparency for approved deviations from Cornell space standards.
6. Create space program documentation that is concise, clear and actionable.
CONTEXTCapital Projects & Planning (CP&P, in Facilities Services) has identified what is currently a six-step process
for unit master plans:
I. College/Division Profile
II. Assessment of Existing Program and Space Utilization
III. Analysis of Space Needs Based on Strategic Vision
IV. Facilities Existing Condition Assessment
V. Space Study/Facilities Renovation Plan Concept Alternatives
VI. Space Study/Facilities Renovation Plan Final Recommendation
Space needs studies may be conducted as part of an overall master planning process (in phases I, II and III, as
listed above), or they may stand alone to support particular initiatives. Should they stand alone, they may drive
subsequent projects, particularly if the space needs study identifies a shortfall of space. The subsequent proj-
ects are expected to follow the CP&P expectations for the consideration of concept alternatives before a final
recommendation is selected.
PROCESS• The Director of Space Planning and the University Architect will consult with units during the annual
development of the capital plan to recommend those cases in which a space needs study should serve as
the first phase of one or more unit capital projects. A space needs study will typically be recommended in
cases where the unit already perceives a shortfall of space or is projecting a shortfall of space based on new
programmatic initiatives and where the unit believes new space (constructed or annexed) is necessary.
• Space needs studies that exceed the PAR threshold will follow these guidelines.
• The Space Use Advisory Committee (SUAC) will meet with the unit and review the PAR before the PAR is
fully approved. The purpose of such a meeting is for the SUAC to understand the issues that the unit hopes
to resolve through the study and for the unit to hear from the SUAC regarding broader contextual issues.
• The SUAC will meet with the unit again at the end of the study, to hear a report and to discuss the implications
and next steps with the unit.
• Presentations to the SUAC are part of the capital project review and approval process. The SUAC advises
the Capital Planning Group (CPG) and the Capital Funding & Priorities Committee (CF&PC) regarding
projects it reviews.
68
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Guidelines for Space Needs StudiesApproved 9/26/11
T CONT.
69
Appendices
• Cross-functional working groups will advise space needs studies. The groups should include, at a minimum,
representation from the office of the University Architect and the Director of Space Planning. Units may
wish to add representatives from other units or functions that might best inform the study through active
involvement. Alternatively, other units or functions may be consulted through the study process.
• Where the study involves the use of classrooms, X25 (the classroom analytic tool licensed by Cornell)
should provide the standard classroom analytics. The X25 analysis should include not only the rooms
within the unit of study, but also rooms within a reasonable walking distance of the unit.
EXPLORATION OF ALTERNATIVES TO MEET SPACE NEEDSThe process for exploring these alternative strategies to meet space needs is developed and coordinated by various
units within Facilities Services. The work to develop alternatives may not be a part of the space needs study
phase itself, but may follow such studies, and should therefore be consistent and coordinated with the results of
the space needs analyses.
When space needs studies determine a shortfall of space, by type or quantity or both, then the analyses and
documentation developed through the study should inform a consideration of alternatives to meet the space
need when the unit is ready to address the shortfall. The alternatives explored should include at least a few of
the following options:
• Academic and other programmatic strategies (such as time of day utilization, alternative work locations, etc.)
• Use of nearby space
• Lease/rent
• Real property acquisition
• Relocation
• Renovation
• Construction
The consideration of all alternatives should identify and weigh the institutional impacts, particularly on capital
costs, operational and maintenance costs, and staffing support.
RENOVATION/NEW CONSTRUCTIONRenovation and/or new construction projects are coordinated through several units in Facilities Services. When the
only viable alternative to resolving a space need is renovation and/or new construction, such work should be based
on previous efforts to understand the space needs.
When space needs studies develop into construction or renovation projects, then mindfulness toward the space
program is incorporated through each design phase. Design documents, at each submittal, should include:
• Diagrammatic plans illustrating spatial relationships
• Room specifications (type, size, function)
• Capacity (number of stations)
• Special equipment or facility needs
• Functional relationships between rooms
• Gap analysis (to identify and explain deviations from space requirements document; progressed through
each phase)
• Ongoing assessment of institutional impacts, including capital budgets, operations and maintenance
budgets, and staffing support requirements
Procedure for the Reallocation of SpaceApproved 2/9/12
INTENT
Develop a standard process to reallocate spaces identified as excess to an occupying unit.
SPACE BECOMES AVAILABLE AND IS APPROVED FOR REALLOCATION• Occupying unit identifies a space as excess, no longer needed to meet unit programmatic needs
• Unit notifies Director of Space Planning and provides available information about the space, e.g., known
maintenance needs, estimated costs, annual operating expenses, etc.
• Director of Space Planning includes the space on a Space Use Advisory Committee meeting agenda for
discussion
• Space Use Advisory Committee endorses the attempt to reallocate the space through the following process
or a modification of the following process, or decides the space does not merit further consideration for
reallocation. Note that the decision not to pursue reallocation of a space may result if the space is small
and/or isolated within the occupying unit’s footprint and/or specialized in design and/or other factors impact
the practicality of a successful reallocation process. The Director of Space Planning should identify such
considerations to the SUAC.
REALLOCATION PROCESS• The Director of Space Planning distributes a solicitation for proposals to the facility directors and the
financial directors; the solicitation to include:
- A description of the space;
- Relevant detail, including physical specifications, known needs, and cost data (as available);
- Schedule information for a site visit by interested parties;
- Submittal requirements and deadline for proposals (suggest 4 weeks as standard), and
- The criteria for decision-making (below).
• Proposals must include these elements:
1. Requester/contact information
2. A brief explanation of the program proposed for the space, including specifically who/what will
occupy the space
3. A brief explanation of how the space relates to other spaces currently used by the proposing unit(s)
4. A brief description of the proposed physical use of the space, including the anticipated layout and
required renovations/modifications envisioned for the space,
5. Estimated timeframe to occupancy
6. Funding source for renovations
7. Sign-off by Dean, Vice President or Vice Provost
• Requests can be submitted by individual units; joint proposals also welcome
• The SUAC will evaluate proposals and prioritize the top 3 proposals
• The top-ranked successful requestor will have # months to develop a funding plan where # = the
number of months required for review during the capital planning cycle, if necessary.
• If the first-ranked project becomes non-viable, due to funding limitations, programmatic change, etc.,
the space will be re-allocated to the second ranked proposal.
70
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71
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CRITERIA FOR DECISION-MAKING1. Need of the requesting unit
2. Vision for space is practically achievable, structurally appropriate, and able to achieve code compliance
3. Space enhances physical adjacencies for the proposing unit(s)
4. The plan is financially feasible
Notes: • State and Contract College buildings are not fungible assets. The “private use” of State buildings is regulated. Contract College buildings must
support the mission of the Contract Colleges. Therefore, reallocation of State or Contract College buildings, in whole or in significant part, will re-quire special consideration. Proposals from within the Contract Colleges must be given priority consideration when reallocating State or ContractCollege buildings. Absent a demonstrated contract college need, if the decision is to reallocate such space to an endowed unit, then the Senior ViceProvost responsible for Land Grant Affairs must approve that decision. For State buildings, ownership must then be verified and the buildingmust be released by SUNY, with or without cost, which may require involvement of the State Office of General Services. For facilities financedby or donated to the contract colleges that are no longer needed to support their missions, documentation must be maintained at Cornell thatsupports transferring the asset to endowed Cornell benefits the contract colleges (e.g., by relieving demolition or ongoing operating costs, oroffset by benefits of comparable value).
Space Management PrinciplesApproved 4/24/12
Teaching, research, extension, service and support are critical missions of the universitythat require substantial infrastructure, including space. Space needs vary greatly bothwithin and across units and programs. Within the diversity of needs for space, there existsome overarching principles and goals regarding allocation. Application of these guidingprinciples across the university can help units as they work with central administration toefficiently use existing space or seek support for the creation or renovation of space.
• All space belongs to the university and is a valuable resource. The university has the authority and
responsibility to allocate space to specific users for certain periods of time, to review those allocations pe-
riodically, to assess utilization, and to reallocate space as needed to support the university’s strategic plans.
• Ownership of space begins with the President and Provost, and is delegated down through organizational
hierarchies. The Provost is ultimately responsible for the allocation of space to units.
• Accountability for space management begins locally, and proceeds upward through organizational hierarchies.
Space within colleges/schools/divisions is allocated based on programmatic needs and priorities as deter-
mined by the dean/division leader. Decision-making authority may be delegated to chairs/directors for
space that is assigned to their units to ensure that those with the most in-depth knowledge of the activities
and needs determine appropriate allocations. Deans, vice presidents, and vice provosts are responsible for
efficient use and active management of space within individual college/division allocations.
• Space assignments are not permanent. Space is assigned to activities and not individuals. As such, space
should be reassigned as activities change.
• Space that is vacant or deemed underutilized will be reassigned or repurposed. Space that is vacated due
to re-organizations, the creation of new space, or other programmatic changes will revert to the Provost
until re-assigned. However, the unit remains the steward until such reassignment occurs.
• The Space Use Advisory Committee (SUAC) in the Division of Planning and Budget (http://www.dpb.
cornell.edu/IP_SP_Space_Planning.htm) is charged with developing policies, procedures, and other
recommendations concerning the use and renovation of space, the reallocation of existing space, and
planning for future allocation needs.
• Reassignment of space, including leased space, between colleges or divisions is prioritized and approved
by the SUAC. The SUAC approval is contingent upon final review and approval through the capital project
approval process. Criteria for reassignment include alignment with the critical missions of the university,
urgency, need, fit, and adjacencies.
• Space allocations will be based on existing facilities, wherever possible, to ensure that current facilities are
fully utilized prior to pursuing lease arrangements, renovations or new construction. The project approval
process for renovations and construction requires space use justification.
• Decisions about space allocations should be made for appropriate institutional reasons based on articulated
needs of the university, department, or program.
72
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73
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Division Directory
OFFICE OF THE VICE PRESIDENT OF PLANNING AND BUDGETElmira Mangum, Vice President
Pede Cadmus
Kim Fassett
Sara Gibbons
Rob Van Brunt
ACADEMIC PLANNING & INFORMATION SYSTEMSJosh Brockner
Dan McGough
Laura Syer
ADMINISTRATIVE STREAMLINING PROGRAMJohn Adams, Assistant Vice President
Ralph Canfield
Scott McIlvennie
Diane McNamee
BUDGET OFFICEDavina Desnoes, Director
Karen Pearson, Assistant Director
Ron Huggins
Maggie Liu
Ellen Mastrogiovanni
Jean Palmer
Sandra Redfield
Rose Wright
CAPITAL BUDGET Tom Cole, Director
INSTITUTIONAL RESEARCH AND PLANNINGMarin Clarkberg, Director
Cathy Alvord
Marne Einarson
Chari Fuerstenau
Deb Fyler
Kevin Rexford
Dan Robertson
William Searle
Kristin Walker
SPACE PLANNINGMary-Lynn Cummings, Director
Jennifer Cox
V
OPERATING AND CAPITALBUDGET PLAN
2012–13
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