Campus Budget UpdateCampus Budget Update

2011-2012 2011-2012

December 7, 2011December 7, 2011

State Appropriations

Operating Recommendations: • Reduction @ 6.1% ($1,623,145)

• Performance Incentives Reallocations $ Factor • Successfully completed

credit hours (SCCH) $ 235,930 .24• SCCH for dual credit students $ 22,875 1.00• Degree change $1,260,000 4.00• Time to degree $ 30,479 2.00• Low income degree completion $ 168,000 1.05

• Net Change $ 94,139Note: Performance Incentives are based on Indiana students only.

Tuition

Proposed Tuition Rates: + 2.5%

Fall 2010 Fall 2011 Fall 2012

UndergraduateResident $ 220.75 $ 226.30 $ 231.95Non-Resident $ 498.70 $ 511.20 $ 524.00

GraduateResident $ 268.90 $ 275.65 $ 282.55

Non-Resident $ 572.65 $ 587.00 $ 601.70

Tuition

Other New Purdue Calumet Fees

Undergraduate Application Fee $ 25Effective for Spring 2012

International Student Fee $ 50Per Semester, beginning Fall 2012

Approved Budget

• State Appro-Operating $ 94,139• Debt service ( 1,766)

• Tuition and Fees 2,561,834• F&A

505,000• Interest 275,000• Admission Fee

30,000Total $

3,464,207

Approved Budget

• 2% Salary Pool $ 874,926

• Faculty Promotions 78,200

• Summer Stipends 56,673• Benefit Changes 928,932• Fee Remissions/Scholarships 31,650• Interpreting Services 24,000• Intercollegiate Athletics

9,000• Technology Support 11,200

Approved Budget

• Designated Fees• Technology $ 83,019• Instructional Labs 35,000• Repair and Rehabilitation 131,000

• New Fees• Admissions Support 30,000

Approved Budget

• F&A Allocation• Business Support-International

Programs (Salary & Benefits)$ 60,000• Sponsored Programs Support (Salaries & Benefits) 445,000

Approved Budget

• Schneider Avenue Building $ 111,000

• CIVS Maintenance Support 22,000

• Utilities and Insurance 187,350

• Administrative Overhead 126,350• Bank Service Charges 45,000• Debt Service ( 1,766)

Approved Budget

Unallocated Recurring• Carry Forward

175,673 Total $

3,464,207

• Did not need $ 1.9 million reserve from 7% reduction to balance budget

• Did not need $ .7 million Carry Forward for Future Budget Commitments fund to balance budget

Approved Budget

Unallocated Recurring

• Carry Forward 2011-2012 $ 175,673

• Carry Forward 2010-2011 764,266

• Carry Forward 2010 & Prior 64,498

• 7% Contingency Fund 1,872,327

Total$2,876,764

Financial Results Financial Results

2010-20112010-2011

October 10, 2011October 10, 2011

Financial Results (Central Funds)

Revenues Compared to Budget

State Appropriations $( 6,629)

Tuition and Fees 3,832,851

F&A Cost Recovery 771,362

Interest Income 330,165

Other 131,785

Total Revenue Variance $ 5,231,595

Financial Results (Central Funds)

Expenditures in Relation to Budget

Budgeted Reserves $ 484,622

Staff Benefits ( 150,076)

Utilities &Other Mandatory Costs 678,427

Bank and Similar Charges 79,203

Debt Service 6,629

Fee Remissions 244,052

Total Expenditure Variance $ 1,342,857

Total Operating Variance $ 6,574,452

Carry-Forward Utilization

Source of Funds Available for 2011-2012

Operating Results $ 6,574,452

Campus Contingency Reserve 2,987,227

Campus Reallocation Reserve 9,207

Total Available Funds $ 9,570,885

Carry-Forward Utilization

Use of Funds

Reserves

Campus Contingency Reserve $ 3,300,000

Campus Development Reserve 200,000

Chancellor’s Contingency Reserve 150,000

Total Reserves $ 3,650,000

Carry-Forward Utilization

Pre-Closing Commitments of Reserve Funds

Scholarship Commitments $ 1,031,000

Veterans Entitlement ScholarshipPrograms 92,745

Riley Child Care Center Support 127,293

Academic Partners – Advance 647,284

Academic Learning Center Support 150,000

Schneider Avenue Building Lease 44,158

Marketing Program and ADA Accessibilityfor the Web 55,000

Carry-Forward Utilization

Pre-Closing Commitments of Reserve Funds

Schneider Avenue Building Renovation $ 39,000

Miscellaneous 143,788

R&R, actual designated fees over budget 42,323

Tech Fees, actual over budget 36,684

F&A Cost Distribution 771,362

Total Pre-Closing Commitments $ 6,830,637

Funds Remaining from Carry-Forward $ 2,740,248

Carry-Forward Utilization

Other Carry-Forward Funds

Chancellor $ 489,712

Advancement 446,642

Student Services 318,201

Administrative Services 1,318,229

Academic Affairs 6,161,519

Information Services 2,504,928

Special Projects (Central) 4,337,846

Total Other Carry-Forward Funds $ 15,577,077

Grand Total of Carry-Forwards $ 25,147,962

Looking Forward

2011-2012 Budget•State Revenues appear to be exceeding projections•Enrollment at or near that budgeted•Positive in-state/out-of-state mix•Sufficient flexibility (recurring and cash) to address any expenditure budget shortfalls

Looking Forward

2012-2013 Budget Projections•Assumes no change in enrollment, no change in mix•2.5% tuition rate•Assumes no change in State appropriations•Provides for 3% salary pool, changes in benefits, unavoidables•Requires use of $ 1,790,726 of recurring unallocated

Looking Forward

To Do: •Review enrollment projections

•Decide use of recurring unallocated budget

•Address current use of cash for recurring purposes

•Decide use for one-time cash

•Monitor state revenues

Looking Forward

Contingency Status, 2011-2012 Budget

Cash reserves of $ 3.3 million

Enrollment reserves $ 637,578 (recurring)

Allocation decisions