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Chief Finance and Facilities Officers June 11, 2008

Minnesota State Colleges and Universities FY2010-2011 Biennial Operating Budget Planning. Chief Finance and Facilities Officers June 11, 2008. Outlook. Strategic 4 strategic directions of Strategic Plan 5 strategic priorities of 2009 Action Plan Financial (state)

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Chief Finance and Facilities Officers June 11, 2008

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  1. Minnesota State Colleges and Universities FY2010-2011 Biennial Operating Budget Planning Chief Finance and Facilities Officers June 11, 2008

  2. Outlook • Strategic • 4 strategic directions of Strategic Plan • 5 strategic priorities of 2009 Action Plan • Financial (state) • $945 million shortfall next biennium • Inflation would add an additional $1.04 billion to shortfall • November 2008 and February 2009 budget forecasts

  3. Outlook (cont.) • Financial (System) • $7.7 million reduction (per year) • Inflation assumption 1.9 percent each year • $84.3 million shortfall over biennium • It would take a 4 percent tuition increase each year to solve shortfall

  4. Process • Previous process • Workgroups - representatives of stakeholder groups • Develop content • Board adopted operating budget request – may or may not be supported by constituent groups • Current process • Conversations with stakeholders • Presidents hold conversations at college/university to solicit input • Structure of budget request • Strengthen support for colleges and universities • Development of innovation strategies • Design of a long-term tuition strategy

  5. Request versus funded Minnesota State Colleges and Universities Biennial Budget Request Versus Funded Fiscal Years 1996 to 2009 ($ in thousands) Fiscal Years RequestedFunded % Funded 1996/1997 $115,684 $42,465 37% 1997 Supplemental $29,697 $4,980 17% 1998/1999 $127,947 $110,506 86% 1999 Supplemental $42,000 $36,000 86% 2000/2001 $253,000 $104,424 41% 2001 Supplemental $21,600 $13,180 61% 2002/2003 $310,998 $105,000 34% 2003 Supplemental $0 ($22,692) 2004/2005 $107,600 ($189,000) 2006/2007 $197,300 $107,500 54% 2008/2009 $177,000 $151,792 86% 2008/2009 Supplemental $0 ($7,880)

  6. Timeline • December 2007-August 2008: Discussions with stakeholders • September 2008: Chancellor recommends to the Board of Trustees the 2010 and 2011 Biennial Operating Budget Request (first reading) • October 2008: Public hearing on the 2010 and 2011 Biennial Operating Budget Request • November 2008: Board of Trustees approves 2010 and 2011 Biennial Operating Budget Request for submission to the Commissioner of Finance

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