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2011 Board of Governor’s Retreat March 19, 2011 Financial Update Rob Yust

2011 Board of Governor’s Retreat March 19, 2011 Financial Update Rob Yust. Revenue Activity FY2011. Impact of Board approved rate and fee increases (as of 02/28/11): Textbook rental fee increase from $ 7.00 to $ 10.00 $ 205K

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2011 Board of Governor’s Retreat March 19, 2011 Financial Update Rob Yust

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  1. 2011 Board of Governor’s RetreatMarch 19, 2011Financial UpdateRob Yust

  2. Revenue Activity FY2011 Impact of Board approved rate and fee increases (as of 02/28/11): • Textbook rental fee increase from $7.00 to $10.00 $ 205K • Distance Education fee increase from $35.00 to $50.00 $ 281K • Out-of-state tuition rate increase from $286.00 to $297.20 • Distance tuition rate charged based on student’s residency $1.22M Impact of 5.2% reduction in State Appropriations: • As of 02/28/11 ($ 862K) • Projected to 06/30/11 ($1.29M)

  3. Tuition comparison as reported to MDHE (FY2011)

  4. History of Per Credit Hour In-State Tuition Rates Charged to Students

  5. Financial Projections

  6. Financial Projection Assumptions • A slight increase (3%) in tuition revenue annually from FY2013 – FY2016 due to a combination of increase in enrollment and/or increase in tuition rate. • A small increase in utility cost in FY2014 – FY2016. Actual has been less than budget and we do not anticipate a budgetary increase until those years. • The projection includes funding for deferred maintenance. • Cash balances exclude the $5 million short-term investment. • Current FY2011 Appropriations – Gross $24,264,876 Less Governor 3% Reserve ($727,946) = Net $23,536,930 • Current tuition charged to student I/S $143.00 O/S $297.20 6.05% Increase = $ 8.65 I/S $151.65 O/S $303.30 9.79% Increase = $14.00 I/S $157.00 O/S $314.00 11.89% Increase = $17.00 I/S $160.00 O/S $320.00 13.99% Increase = $20.00 I/S $163.00 O/S $326.00 14.69% Increase = $27.00 I/S $164.00 O/S $328.00 19.58% Increase = $28.00 I/S $171.00 O/S $342.00 (Calculations based on the above rates.)

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