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Budget Town Hall Forum

Budget Town Hall Forum. January 13, 2009. Town Hall Forum Format. Opening Remarks Presentation of State Economic Environment November Forecast and Impact Updated Economic Information Impact ON MSU Unallotment FY10 – 11 Base Budget Impact Projections MSU Budget Process/Timelines

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Budget Town Hall Forum

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  1. Budget Town Hall Forum January 13, 2009

  2. Town Hall Forum Format • Opening Remarks • Presentation of State Economic Environment • November Forecast and Impact • Updated Economic Information • Impact ON MSU • Unallotment • FY10 – 11 Base Budget Impact Projections • MSU Budget Process/Timelines • Open Forum Discussion

  3. State Economic Environment • October Revenue Report • Tax Receipts for July – Sept. $58 million ahead of forecast • November Forecast • $426 Million Deficit for FY09 (current year) • $4.85 Billion Deficit for FY10 – 11 (14% of State Budget) • January Economic Update • Nov. – Dec. Tax Receipts $131 million below November Forecast

  4. Impact of State Economy • December 2008 – Governor Unallotment to erase $426 million projected 6/30/09 deficit • $40 Million Unallotment to Higher Ed • $20 Million Unallotment to MnSCU • MSU Share is $1,544,652 • Report on Reduction Plan to Masco Early Feb. • January 2009 – Legislature Opens and Discusses Possibility of 20% State Deficit for FY10 – 11. • Actual Budgets won’t be known until April – May.

  5. Unallotment Strategies • Limited Use of Reserves for Unallotment • Reserves will be needed to transition FY10 – 11 Reductions • Remaining Possible Strategies • Vacant Position Salary Savings • Equipment Freeze • Travel Reduction/Freeze • Supplies Reduction/Freeze • Initiative Funds Freeze • Implement FY10 – 11 Base Reductions Early

  6. FY10 – 11 Scenarios • Four Unknown Variables • Appropriation Change • Tuition Rate Change • Inflation Change • Enrollment Change • Small Ranges in Each Variable Compound to Very Large Range in Scenario Possibilities • Examples on Scenario Worksheet

  7. MSU Budget Process

  8. Proposed Budget, Planning & Assessment Process • Timeline • Unallotment – Early February • 3% Divisional Plans – Completed • 6% and 10% Div. Plans – End of February • Final Plans in April • Forms linking to Planning and Assessment • Blank Forms on Budget Website • Completed Forms: www.mnsu.edu/finadmin/plans

  9. Cost Containment/Budget Strategy Identification • Transparency Level • Inclusive • Robust Communication – Shared Governance • Open Decision Making • Participative • Widely distributed information – Data Driven • Feedback • Web based with ability to submit comments • 96 comments submitted to date • www.mnsu.edu/finadmin/budgetoffice/

  10. Budget Town Hall Forum January 13, 2009

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