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Overview of the University Budget Structure 2009. UTSA Operating Budget Fund Sources. State Funds: State Appropriations : Formula Funding, Special Items, Benefits THECB Transfers: TX Pub Ed Grant (TPEG), Work-study Statutory Tuition, Certain Lab Fees Designated Funds: - PowerPoint PPT Presentation
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Overview of the University Budget Structure
2009
Overview of the University Budget Structure
2009
UTSA Operating Budget Fund SourcesUTSA Operating Budget Fund Sources State Funds:
State Appropriations: Formula Funding, Special Items, Benefits
THECB Transfers: TX Pub Ed Grant (TPEG), Work-study
Statutory Tuition, Certain Lab Fees
Designated Funds: Designated Tuition, Mandatory, Course &
Incidental Fees Indirect Cost Recovery: Facilities & Admin Overhead
Auxiliary Funds (29-accts) Restricted Funds: Gifts (30-accts)
Sponsored Programs - Grants/Contracts (26-accts)
Federal Financial Aid (26-accts)
Designated Funds
19-accounts
E&G Budget = 14-AcctsState Funds + $33M of Designated Funds (Tuition, Fees & F&A)Xfrd to fund E&G Bdgt
UTSA FY 2009 Operating Budget All Revenue Sources - $421,560,213
UTSA FY 2009 Operating Budget All Revenue Sources - $421,560,213
State Appropriations
$115 M (27.3%)
Designated Funds:Designated Tuition,
Misc. Fees including
F&A/Indirect Cost
Recovery
$154.6M (36.7%)
Statutory Tuition & Fees $39.9M
(8.5%)
THECB-Tx Grant Pgm, CWS & TARP/TATP
$7.3M (1.7%)
Auxiliary Enterprise:Athletics Fee, University
Ctr Fee, Parking,
Housing, Food Service,
UTSA Card, Child Dvlpmt
$38.2M (9.1%)
Restricted: Gifts $7.2M (1.7%)
Restricted: Financial Aid $31.3M / Grants & Contracts $32M
Total = $63.3M (15%)
State Legislative Budget CycleState Legislative Budget Cycle
Legislature convenes every 2 years for 140 days during an odd numbered calendar year
beginning January 2nd
2007 = 80th Legislative Session for FY08 and 09 Budgets2009 = 81st Legislative Session for FY10 and 11 Budgets
State budget is allocated for 2 years at a time HE appropriations are generally flat in the 2nd year
Fiscal Year begins September 1 Numerical reference is by the trailing year:
2008-2009 = FY09 2009-2010 = FY10
Legislature convenes every 2 years for 140 days during an odd numbered calendar year
beginning January 2nd
2007 = 80th Legislative Session for FY08 and 09 Budgets2009 = 81st Legislative Session for FY10 and 11 Budgets
State budget is allocated for 2 years at a time HE appropriations are generally flat in the 2nd year
Fiscal Year begins September 1 Numerical reference is by the trailing year:
2008-2009 = FY09 2009-2010 = FY10
Legislative Appropriations Request (LAR)
Legislative Appropriations Request (LAR)
Each agency details funding sought from the state budget - tied to goals, objectives & strategies
Each UT campus prepares their own LAR Format dictated (ABEST system input) Instructions in early April of even calendar years Due to UT System ~ May 15, 2008
Basis for Joint Budget Hearing in Fall 2008 before session begins UTSA’s Hearing was held September 8, 2008
Each agency details funding sought from the state budget - tied to goals, objectives & strategies
Each UT campus prepares their own LAR Format dictated (ABEST system input) Instructions in early April of even calendar years Due to UT System ~ May 15, 2008
Basis for Joint Budget Hearing in Fall 2008 before session begins UTSA’s Hearing was held September 8, 2008
General Appropriations Act (GAA)General Appropriations Act (GAA)
General Appropriations Act details each agency’s biennial budget allocation State revenues only - does not include designated funds
Academic institutions Direct appropriations via funding formula are lump sum Strategies are for information only Non-formula appropriations are ‘restricted’:
– Special Items & Higher Education Group Insurance
Revenue sources referred to as ‘method of finance’ General Revenue (“sum certain” appropriations) General Revenue-Dedicated (estimated –Stat Tuition/Lab Fees)
– collected by UTSA – considered a funding source for the formula
General Appropriations Act details each agency’s biennial budget allocation State revenues only - does not include designated funds
Academic institutions Direct appropriations via funding formula are lump sum Strategies are for information only Non-formula appropriations are ‘restricted’:
– Special Items & Higher Education Group Insurance
Revenue sources referred to as ‘method of finance’ General Revenue (“sum certain” appropriations) General Revenue-Dedicated (estimated –Stat Tuition/Lab Fees)
– collected by UTSA – considered a funding source for the formula
General Appropriations Act (GAA)General Appropriations Act (GAA)
GAA specifies how state funds are allocated, not how they must be spent. Institutions are not bound to spend appropriations
within a specified strategy (E&G Space Support) Exceptions
Special Items Higher Education Group Insurance TRB Debt service Research Development funds must be used per Ed Code §62.091
General Revenue can not be used to fund Construction Auxiliary purposes – e.g. Athletics, Parking, etc.
GAA specifies how state funds are allocated, not how they must be spent. Institutions are not bound to spend appropriations
within a specified strategy (E&G Space Support) Exceptions
Special Items Higher Education Group Insurance TRB Debt service Research Development funds must be used per Ed Code §62.091
General Revenue can not be used to fund Construction Auxiliary purposes – e.g. Athletics, Parking, etc.
State Funding Variance by UT CampusState Funding Variance by UT Campus
State Appropriations
FY 2001 2002 2003 2004 2005 2006Arlington 5,400$ 5,700$ 4,900$ 4,600$ 4,600$ 4,900$ Austin 6,200 6,300 5,900 6,000 6,200 6,500
Brownsville (2) 2,700 2,900 3,200 2,900 3,100 3,000
Dallas 6,100 6,100 5,700 5,700 5,500 6,100 El Paso 5,600 5,400 5,200 4,800 4,800 5,200 Pan American 4,700 4,700 4,500 4,200 4,000 4,400 Permian Basin 9,100 8,300 7,400 6,500 6,200 6,300 San Antonio 4,800 4,900 4,400 3,900 3,800 4,400 Tyler 7,900 9,000 7,600 6,900 6,000 6,500
Per Full-Time Equivalent Student (1), Real DollarsUT Academic Institutions
(1) Full-Time Equiv alent students = 30 undergraduate semester credit hours (SCH) or 24 master's or
professional SCHs or 18 doctoral SCHs.
(2) Brow nsv ille operating rev enues from local community college tax district are not included.
State Appropriation % of Total Revenue Declined After Tuition Deregulation
State Appropriation % of Total Revenue Declined After Tuition Deregulation
$-
$50,000,000
$100,000,000
$150,000,000
$200,000,000
$250,000,000
$300,000,000
$350,000,000
$400,000,000
$450,000,000
FY 02 41%
FY 03 40%
FY 04 33%
FY 05 27%
FY 06 30%
FY 07 27%
FY 08 28%
State Appropriations
Total Revenues
Formula Funding in TexasFormula Funding in Texas
Tool used by the Legislature since 1950’s to allocate most of the funds for public universities. Over time, the formula became more and more complex Simplified in 1997, engineered by Senator Ratliff The result of a ‘negotiation’ among institutions & the Legislature re: how available
dollars should be allocated
Not intended as restricted budget line item Universities may allocate to a college or department more or less than the amount
‘earned’ through the formula.
Intended to be fair & equitable, provide incentives, stable & predictable
Tool used by the Legislature since 1950’s to allocate most of the funds for public universities. Over time, the formula became more and more complex Simplified in 1997, engineered by Senator Ratliff The result of a ‘negotiation’ among institutions & the Legislature re: how available
dollars should be allocated
Not intended as restricted budget line item Universities may allocate to a college or department more or less than the amount
‘earned’ through the formula.
Intended to be fair & equitable, provide incentives, stable & predictable
Source: THECB Presentation: Introduction to the Texas Public University Funding Formula (November 2001) http://www.thecb.state.tx.us/AdvisoryCommittees/HEP/FormulaBriefingHindmanNov27.ppt
Formula Funding in TexasFormula Funding in Texas
Intended to fund Educational & General budget items 62% of all state appropriations for general academic institutions are
allocated via 2 funding formulas and 2 supplements.
An “all funds” formula General Revenue – from sales taxes, franchise tax, lottery & numerous
other source All Funds – GR + Statutory Tuition
Intended to fund Educational & General budget items 62% of all state appropriations for general academic institutions are
allocated via 2 funding formulas and 2 supplements.
An “all funds” formula General Revenue – from sales taxes, franchise tax, lottery & numerous
other source All Funds – GR + Statutory Tuition
Source: THECB Presentation: Introduction to the Texas Public University Funding Formula (November 2001) http://www.thecb.state.tx.us/AdvisoryCommittees/HEP/FormulaBriefingHindmanNov27.ppt
State Appropriations: Formula FundingState Appropriations: Formula Funding
Instructional and Operations (I/O) Formula Uses Weighted Semester Credit Hours (SCH) generated during
the ‘Base Year’
Infrastructure Support Formula Funding associated with oper & mtnc of plant Driven by sft needed to support E&G activities
Adjusted Utility Rate (66.1%)All Other Infrastructure Costs (33.9%) To support Oper & Mtnc of E&G space. 08-09 Rate per predicted square foot = $6.19
Instructional and Operations (I/O) Formula Uses Weighted Semester Credit Hours (SCH) generated during
the ‘Base Year’
Infrastructure Support Formula Funding associated with oper & mtnc of plant Driven by sft needed to support E&G activities
Adjusted Utility Rate (66.1%)All Other Infrastructure Costs (33.9%) To support Oper & Mtnc of E&G space. 08-09 Rate per predicted square foot = $6.19
82.9%*
17.1%*
*of total made available to fund the formula
Instructional and Operations (I/O) FormulaInstructional and Operations (I/O) Formula
Formula Strengths: consistent methodology - same
for all 35 academic institutions; emphasizes instruction.
Formula Weaknesses: hurts growing institutions
adjustments every 2 years; motivates creation of graduate
programs; doesn’t reward quality or student success; validity
of weighting not demonstrated. Costs by discipline are
aggregated and self reported. Actual costs are not fully
funded (rate based on funding made available by the
legislature).
Formula Strengths: consistent methodology - same
for all 35 academic institutions; emphasizes instruction.
Formula Weaknesses: hurts growing institutions
adjustments every 2 years; motivates creation of graduate
programs; doesn’t reward quality or student success; validity
of weighting not demonstrated. Costs by discipline are
aggregated and self reported. Actual costs are not fully
funded (rate based on funding made available by the
legislature).
The formula is never funded at the levels recommended by THECB to cover cost increases.
Instructional and Operations (I/O) Formula Instructional and Operations (I/O) Formula
1.1. Each institution reports cost data by discipline Each institution reports cost data by discipline and level and level
2. Each institution reports enrollment data for the 2. Each institution reports enrollment data for the base period – 12 months immediately preceding base period – 12 months immediately preceding & including the legislative session.& including the legislative session. UTSA’s reported SCH for Summer 2008, Fall 2008
and Spring 2009 will determine relative amount of formula funding for FY2010 and 2011
SCH’s are adjusted by funding caps
1.1. Each institution reports cost data by discipline Each institution reports cost data by discipline and level and level
2. Each institution reports enrollment data for the 2. Each institution reports enrollment data for the base period – 12 months immediately preceding base period – 12 months immediately preceding & including the legislative session.& including the legislative session. UTSA’s reported SCH for Summer 2008, Fall 2008
and Spring 2009 will determine relative amount of formula funding for FY2010 and 2011
SCH’s are adjusted by funding caps
Cap Adjustments to the Base SCHCap Adjustments to the Base SCH
The following SCHs are deducted from our base SCH and not funded:
Doctoral Cap –doctoral hours accumulated by a single student in excess of 99 hours.
Undergraduate Hour Cap – SCH earned by a resident undergraduate student that exceeds by at least 45 hours the number of SCH required for completion of the student’s degree program.
Developmental Education Cap – developmental hours accumulated by a single student in excess of 18 SCH.
Third Time Enrollment Cap – credit hours attempted by a single student for the third time.
The following SCHs are deducted from our base SCH and not funded:
Doctoral Cap –doctoral hours accumulated by a single student in excess of 99 hours.
Undergraduate Hour Cap – SCH earned by a resident undergraduate student that exceeds by at least 45 hours the number of SCH required for completion of the student’s degree program.
Developmental Education Cap – developmental hours accumulated by a single student in excess of 18 SCH.
Third Time Enrollment Cap – credit hours attempted by a single student for the third time.
Cost Study InputsCost Study InputsCost Study InputsCost Study Inputs
AFR C-2 Cost Category Discipline Level
Academic Academic
Institutional Institutional
Student Services
StudentServices
Salaries (Teaching and
Assistants)
Departmental Operating Expense
Other Departmental
Operating Expense
As ReportedSalary Weights or Semester Credit Hours
Salary Weights
Semester Credit Hours
Head Counts
Instruction and
Research
As Reported
Formula Funding Weights Reflect Formula Funding Weights Reflect Variable Costs by Discipline & LevelVariable Costs by Discipline & Level
Formula Funding Weights Reflect Formula Funding Weights Reflect Variable Costs by Discipline & LevelVariable Costs by Discipline & Level
Discipline UG L UG U Mast Doct Sp ProLiberal Arts 1.00 1.72 4.18 9.30 0.00Developmental Education 1.00 0.00 0.00 0.00 0.00Science 1.71 2.97 8.14 20.60 0.00Fine Arts 1.39 2.32 5.43 7.19 0.00Teacher Education 1.42 1.74 2.48 7.66 0.00Agriculture 1.87 2.52 7.06 9.88 0.00Engineering 2.41 3.87 7.63 15.97 0.00Home Economics 1.06 1.71 2.86 6.63 0.00Law 0.00 0.00 0.00 0.00 3.87Social Service 1.94 2.05 2.97 13.84 0.00Library Science 1.14 1.09 2.64 6.65 0.00Veterinary Medicine 0.00 0.00 0.00 0.00 16.54Vocational Training 1.66 1.97 0.00 0.00 0.00Physical Training 1.29 1.28 0.00 0.00 0.00Health Services 1.23 1.98 3.21 8.49 0.00Pharmacy 0.71 4.25 19.88 29.57 3.79Business Administration 1.12 1.73 3.43 24.29 0.00Optometry* 0.00 0.00 5.46 19.12 7.00Teacher Education-Practical 1.30 1.77 0.00 0.00 0.00Technology 1.90 2.38 4.41 3.38 0.00Nursing 1.94 2.46 4.83 10.65 0.00
Relative Weights
FY 2010-11 BienniumCost Study - FY 2006 FY 2007 FY 2008
Attempted Semester Credit Hours
Instructional and Operations (I/O) Formula Instructional and Operations (I/O) Formula
3. Per SCH funding rate for all 35 Academic Institutions is the same:
State General Rev + GR-Dedicated (Statutory tuition + lab fees) = Funding Rate
Statewide Weighted Semester Credit Hrs (WSCH) Per WSCH
Funding for Individual Institutions:(Institution’s WSCH x Funding Rate per WSCH) = All Funds Appropriated
Funding Rates FY06-07 = $55.72 FY08-09 = $59.02 (+5.9%)
FY10-11 TBD - THECB Recommended at $63.87 for Attempted SCH $72.05 for Completed,
HB1 is $60.51 (+2.5%)
3. Per SCH funding rate for all 35 Academic Institutions is the same:
State General Rev + GR-Dedicated (Statutory tuition + lab fees) = Funding Rate
Statewide Weighted Semester Credit Hrs (WSCH) Per WSCH
Funding for Individual Institutions:(Institution’s WSCH x Funding Rate per WSCH) = All Funds Appropriated
Funding Rates FY06-07 = $55.72 FY08-09 = $59.02 (+5.9%)
FY10-11 TBD - THECB Recommended at $63.87 for Attempted SCH $72.05 for Completed,
HB1 is $60.51 (+2.5%)
Teaching Experience SupplementTeaching Experience Supplement
10% additional weighting to Undergraduate SCH (both Lower and Upper Division) taught by tenure/tenure track faculty Was 5% in 98-99 and 00-01 Increased to 10% in 02-03, 04-05, 06-07 biennia
In 06-07 the GAA included this language: It was the intent of the Legislature to increase the weight
by 10% per biennium, up to 50%. (Did not increase in 08-09)
For 10-11, THECB has recommended removal of this supplement!
10% additional weighting to Undergraduate SCH (both Lower and Upper Division) taught by tenure/tenure track faculty Was 5% in 98-99 and 00-01 Increased to 10% in 02-03, 04-05, 06-07 biennia
In 06-07 the GAA included this language: It was the intent of the Legislature to increase the weight
by 10% per biennium, up to 50%. (Did not increase in 08-09)
For 10-11, THECB has recommended removal of this supplement!
Statutory TuitionStatutory Tuition Rates established by Ed Code ($50/SCH since Fall 2005 for
resident undergraduate students) Same rate for all UT institutions.
Graduate students pay 2 times undergraduate rate, referred to as Graduate Incremental Tuition.($100/SCH since Fall 2005)
Non-resident students pay rates equal to the average non-resident tuition at the 5 most populous U.S. states. Rates are determined by THECB per §54.051(d) of the Texas Ed Code (currently at $331/SCH for UG and $772/SCH for GR)
Statutory Tuition is a revenue source for the I/O formula (in an amount estimated in the General Appropriations Act.) Institution bears impact of any over or under collection of Institution bears impact of any over or under collection of
budgeted revenue – worse for campuses who lose enrollment.budgeted revenue – worse for campuses who lose enrollment.
Rates established by Ed Code ($50/SCH since Fall 2005 for resident undergraduate students) Same rate for all UT institutions.
Graduate students pay 2 times undergraduate rate, referred to as Graduate Incremental Tuition.($100/SCH since Fall 2005)
Non-resident students pay rates equal to the average non-resident tuition at the 5 most populous U.S. states. Rates are determined by THECB per §54.051(d) of the Texas Ed Code (currently at $331/SCH for UG and $772/SCH for GR)
Statutory Tuition is a revenue source for the I/O formula (in an amount estimated in the General Appropriations Act.) Institution bears impact of any over or under collection of Institution bears impact of any over or under collection of
budgeted revenue – worse for campuses who lose enrollment.budgeted revenue – worse for campuses who lose enrollment.
Designated TuitionDesignated Tuition
In 2003, the legislature ‘deregulated’ designated tuition rates to counteract declining state revenue.
Considered a local source of revenue; rates are set by by the Board of Regents (fingers crossed) & vary by institution
FY 08 = $101/SCH FY09 = $110 /SCH FY10 = $120.85 (fingers crossed) 20% of the amount collected from paid resident UG and 15% from
resident GR over $46/SCH is set aside for student financial aid. Very important revenue stream
Only discretionary source of new revenue in the 2nd year of the biennium to fund merit, mandatory cost increases, new faculty, strategic initiatives, etc.
In 2003, the legislature ‘deregulated’ designated tuition rates to counteract declining state revenue.
Considered a local source of revenue; rates are set by by the Board of Regents (fingers crossed) & vary by institution
FY 08 = $101/SCH FY09 = $110 /SCH FY10 = $120.85 (fingers crossed) 20% of the amount collected from paid resident UG and 15% from
resident GR over $46/SCH is set aside for student financial aid. Very important revenue stream
Only discretionary source of new revenue in the 2nd year of the biennium to fund merit, mandatory cost increases, new faculty, strategic initiatives, etc.
Mandatory & Incidental FeesMandatory & Incidental FeesNew fees and or changes to the fee amounts are set for twoNew fees and or changes to the fee amounts are set for twoyears upon approval by the Board of Regents. years upon approval by the Board of Regents.
Proposals are considered prior to the Fall Semester of the 2nd year of the biennium.
Fee revenue must be spent in accordance with the approved purpose (justification) and or per Texas Education Code stipulations.
Mandatory Fees (Designated & Auxiliary Funds):Mandatory Fees (Designated & Auxiliary Funds): Required to be paid by all students unless exempted by statute or waived
by the President. New fees and/or fee rate changes must be approved by the Board of
Regents (BoR)
Incidental or Course Fees (Designated Funds):Incidental or Course Fees (Designated Funds): College/course fees are included in the Total Academic Cost formula. President has authority after review of The UT System Executive VC.
New fees and or changes to the fee amounts are set for twoNew fees and or changes to the fee amounts are set for twoyears upon approval by the Board of Regents. years upon approval by the Board of Regents.
Proposals are considered prior to the Fall Semester of the 2nd year of the biennium.
Fee revenue must be spent in accordance with the approved purpose (justification) and or per Texas Education Code stipulations.
Mandatory Fees (Designated & Auxiliary Funds):Mandatory Fees (Designated & Auxiliary Funds): Required to be paid by all students unless exempted by statute or waived
by the President. New fees and/or fee rate changes must be approved by the Board of
Regents (BoR)
Incidental or Course Fees (Designated Funds):Incidental or Course Fees (Designated Funds): College/course fees are included in the Total Academic Cost formula. President has authority after review of The UT System Executive VC.
Facilities and Administrative (F&A) Indirect Cost Recovery
Facilities and Administrative (F&A) Indirect Cost Recovery
Facilities and Administrative overhead from sponsored grants and contracts provides reimbursement for institutional expenses in support of extramural activities that cannot be directly charged to a specific grant or contract.
Facilities component includes plant operation and maintenance, depreciation, library expenses.
Administrative component includes general administration
and general expenses, sponsored projects administration.
Facilities and Administrative overhead from sponsored grants and contracts provides reimbursement for institutional expenses in support of extramural activities that cannot be directly charged to a specific grant or contract.
Facilities component includes plant operation and maintenance, depreciation, library expenses.
Administrative component includes general administration
and general expenses, sponsored projects administration.
Facilities and Administrative (F&A) Indirect Cost Recovery
Facilities and Administrative (F&A) Indirect Cost Recovery
UTSA’s F&A rate is negotiated with the federal government (DHHS) On-campus rate: 44.5% On-campus rate: 44.5%
Eff. 9/1/2007 through 8/31/11Eff. 9/1/2007 through 8/31/11 Was 41.5%, gain of 3%Was 41.5%, gain of 3%
Off-campus rate: 26%Off-campus rate: 26%
Modified Total Direct Costs (MTDC) is the base to which F&A (indirect cost) rates are applied when submitting a grant or contract, per OMB Circular A-21.
UTSA’s F&A rate is negotiated with the federal government (DHHS) On-campus rate: 44.5% On-campus rate: 44.5%
Eff. 9/1/2007 through 8/31/11Eff. 9/1/2007 through 8/31/11 Was 41.5%, gain of 3%Was 41.5%, gain of 3%
Off-campus rate: 26%Off-campus rate: 26%
Modified Total Direct Costs (MTDC) is the base to which F&A (indirect cost) rates are applied when submitting a grant or contract, per OMB Circular A-21.
Auxiliary EnterprisesAuxiliary Enterprises Self-supporting activity providing goods or services to students,
faculty, staff, departments, or incidentally to the general public. Charges are directly related to, although not necessarily equal to,
the cost of the goods or services. Important aspect of campus life UTSA’s Auxiliaries include
Bookstore – outsourced management contract (Follett) Food Services - outsourced management contract (Aramark) Parking Housing University Center Recreation Center (we moved this year from designated) Athletics UTSA Card
Self-supporting activity providing goods or services to students, faculty, staff, departments, or incidentally to the general public.
Charges are directly related to, although not necessarily equal to, the cost of the goods or services.
Important aspect of campus life UTSA’s Auxiliaries include
Bookstore – outsourced management contract (Follett) Food Services - outsourced management contract (Aramark) Parking Housing University Center Recreation Center (we moved this year from designated) Athletics UTSA Card
Capital Improvement FundingCapital Improvement Funding
3 Debt Financing programs available to UTSA:
1. Tuition Revenue Bonds (TRB) approved by the Legislature to debt finance new construction. “Free money” to UTSA.
General revenue appropriation covers debt service.
Recent UTSA Buildings financed with TRBEngineering $74,250,000BSE 22,950,000Main 15,000,000Downtown, Phase III 35,000,000
3 Debt Financing programs available to UTSA:
1. Tuition Revenue Bonds (TRB) approved by the Legislature to debt finance new construction. “Free money” to UTSA.
General revenue appropriation covers debt service.
Recent UTSA Buildings financed with TRBEngineering $74,250,000BSE 22,950,000Main 15,000,000Downtown, Phase III 35,000,000
Capital Improvement FundingCapital Improvement Funding
2.2. The Permanent University Fund (PUF)The Permanent University Fund (PUF) net asset value = net asset value = $11.74B$11.74B
--PUF debt from tax-exempt bonds secured by distributions to the Available University Fund. “Free money” to UTSA.
STARS –Faculty Start-up Funds UTSA has received $6.6M over the past 3 years
LERR – Library, Equipment, Repair and Rehabilitation UTSA received $2 million for FY07; $2.237M in FY08
Recent PUF Allocations to UTSA$20.25 M for Science Lab Renovations$ 8.25 M for Engineering Building$14.50 M for 1604 & Hausman Property (future site of Athletic facilities)
Board of Regents just increased the PUF annual distribution from 4.75 to 5.0%;Board of Regents just increased the PUF annual distribution from 4.75 to 5.0%;additional proceeds of ~$30M to be used for recruitment and retention of faculty.additional proceeds of ~$30M to be used for recruitment and retention of faculty.
2.2. The Permanent University Fund (PUF)The Permanent University Fund (PUF) net asset value = net asset value = $11.74B$11.74B
--PUF debt from tax-exempt bonds secured by distributions to the Available University Fund. “Free money” to UTSA.
STARS –Faculty Start-up Funds UTSA has received $6.6M over the past 3 years
LERR – Library, Equipment, Repair and Rehabilitation UTSA received $2 million for FY07; $2.237M in FY08
Recent PUF Allocations to UTSA$20.25 M for Science Lab Renovations$ 8.25 M for Engineering Building$14.50 M for 1604 & Hausman Property (future site of Athletic facilities)
Board of Regents just increased the PUF annual distribution from 4.75 to 5.0%;Board of Regents just increased the PUF annual distribution from 4.75 to 5.0%;additional proceeds of ~$30M to be used for recruitment and retention of faculty.additional proceeds of ~$30M to be used for recruitment and retention of faculty.
Capital Improvement FundingCapital Improvement Funding
3. The Revenue Financing System (RFS) The UT System program provides low interest The UT System program provides low interest financing for capital needs:financing for capital needs:
--available to campuses that meet bond rating agencies’ standards for The UT System to preserve its AAA rating.
Construction projects or capital equipment funded by Designated funds: Policy requires a campus to meet 2 of 3 financial ratios:
Debt Service Coverage, Debt Burden and Expendable Resources to Debt
Projects funded by auxiliaries or fee revenue must demonstrate sustainable ability to service the debt.
--100% of debt service paid from UTSA revenues.
3. The Revenue Financing System (RFS) The UT System program provides low interest The UT System program provides low interest financing for capital needs:financing for capital needs:
--available to campuses that meet bond rating agencies’ standards for The UT System to preserve its AAA rating.
Construction projects or capital equipment funded by Designated funds: Policy requires a campus to meet 2 of 3 financial ratios:
Debt Service Coverage, Debt Burden and Expendable Resources to Debt
Projects funded by auxiliaries or fee revenue must demonstrate sustainable ability to service the debt.
--100% of debt service paid from UTSA revenues.