fy11 12 suny oneonta state purposes budget update
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FY11/12 SUNY Oneonta State Purposes Budget Update. Budget Advisory Committee, September 16 th , 2011. FY11/12 Budget Context: NYS Budget. FY11/12 State Budget Deficit: $10.0 billion FY11/12 State Budget cuts & other actions addressed this deficit

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fy11 12 suny oneonta state purposes budget update

FY11/12 SUNY OneontaState PurposesBudget Update

Budget Advisory Committee, September 16th, 2011

fy11 12 budget context nys budget
FY11/12 Budget Context: NYS Budget
  • FY11/12 State Budget Deficit: $10.0 billion
    • FY11/12 State Budget cuts & other actions addressed this deficit
    • SUNY State-Ops’ net share of Executive State Budget cuts: $131.4 million
  • Current Out-year State Budget Deficit Projections (as of 6/30/11):
    • FY12/13: $2.4 billion
    • FY13/14: $2.8 billion
    • FY14/15: $4.6 billion

BAC Budget Update

out year budget context
Out-year Budget Context
  • SUNY 2020 may help limit the severity of cuts over the next 4 years
    • Included in the legislation: “The State would be required to appropriate… General Fund operating support in an amount no less than provided in the prior State Fiscal Year, except that if the Governor declares a fiscal emergency…”
    • Inflationary costs can still have an impact – lack of funding to cover inflation has the same effect as a funding cut
    • Funding reductions may still come from within SUNY:
      • changes in Resource Allocation Method
      • funding for SUNY Strategic Plan
  • State tax revenues for April – June 2011 were up relative to last year, with NYS near the top with a gain over last year of $2.3 billion (21%)

BAC Budget Update

fy11 12 financial plan v estimated need
FY11/12 Financial Plan v. Estimated Need
  • FY11/12 State Financial Plan Funding, including $300 tuition increase:
    • $12.8m State Support
    • $32.0m Tuition and other related revenue
    • ($0.4m) Tuition Credit funding
  • FY11/12 Projected Campus Need:
    • $45.0m Adjusted FY10/11 State Financial Plan
    • $0.4m salary inflation
  • FY11/12 Net Budget Gap
  • Net losses over the last four years
  • $44.4m
  • ($45.4m)
  • ($1.0m)
  • ($8.7m)

BAC Budget Update

closing the budget gap campus actions
Closing the Budget Gap: Campus Actions
  • ($1.0m) FY11/12 Budget Gap
  • $3.4m in savings & revenue actions
    • Salary & Other Savings, $2.5m, July 2010 - present
      • Savings from turnover, Early Retirements, Administrative Restructuring
      • Net reduction of approximately 19.5 vacant positions
    • Increased Tuition Revenue, $0.3m
      • FY10/11 enrollment growth
      • Residential v. Non-Residential (including International) Mix
    • Student Fee Revenue, $0.2m
      • enrollment growth, inflation-indexed fee increases (per SUNY guidelines)
      • Summer Session Technology Fee
    • Room Rate Increases, $0.4m

BAC Budget Update

looking ahead
Looking ahead…
  • $2.4m savings banked for FY12/13
  • We do not anticipate another ERI Program.
  • Utilize campus reserves to smooth over the bumps
  • Work with campus community to identify additional savings and/or revenue opportunities
  • Continue to invest in strategic priorities
  • Develop formal means to prioritize budget allocation that is strategic, transparent, and inclusive.

BAC Budget Update

questions
Questions?

BAC Budget Update

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