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Campus Budget Update 2011-2012 December 7, 2011

Campus Budget Update 2011-2012 December 7, 2011. 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

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Campus Budget Update 2011-2012 December 7, 2011

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  1. Campus Budget Update 2011-2012 December 7, 2011

  2. 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

  3. Financial Results 2010-2011 October 10, 2011

  4. 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

  5. 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 Pre-Closing Commitments 6,830,637 Funds Remaining2,740,248 Total Use of Funds$ 9,570,855

  6. 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

  7. 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

  8. 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

  9. Looking Forward • Contingency Status, 2011-2012 Budget • Cash reserves of $ 3.3 million • Enrollment reserves $ 637,578 (recurring) • Allocation decisions

  10. Questions?

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