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Budget Planning Overview Graduate & professional Student Assembly February 20, 2012 Vice President Elmira Mangum. Agenda. Major Budget Policy Issues and Outlook Tuition and Financial Aid Endowed, Contract, Professional Endowment Payout Salary Improvement Plan

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Budget Planning OverviewGraduate & professional Student AssemblyFebruary 20, 2012Vice President Elmira Mangum

agenda
Agenda
  • Major Budget Policy Issues and Outlook
    • Tuition and Financial Aid
      • Endowed, Contract, Professional
    • Endowment Payout
    • Salary Improvement Plan
  • Elimination of Structural Deficit
    • Reduce Administrative Costs (Streamlining Program)
    • No new costs without funding or identified income sources
  • Budget Model Change
five year total capital plan 1 649b
Five Year Total Capital Plan - $1.649B

FY 2012 Expenditures $ 373.9 M

  • Projects Approved and Underway 977.2 M
  • Major Projects/ New Construction 157.6 M
  • New York State 66.0 M
  • Maintenance, Infrastructure, Unit 397.1 M
  • Weill Cornell Medical Projects 51.0 M

This Five Year Plan represents a 11% reduction in

activity from FY 2011 plan.

24% reduction in activity from FY 2010 plan

37% reduction in activity from FY 2009 plan

graduate tuition
Graduate Tuition

Graduate Research - No Change

Graduate School - Professional Degree 4.5%

Market Based Changes set by Individual Colleges

3% Graduate Stipend Increase was approved with the campus Salary Improvement Program

endowment payout policy
Endowment Payout Policy
  • Goal: Steady, predictable payout increase for operating budgets smoothed for budget and planning purposes with sensitivity to changes in market value.
the budget model change
The Budget Model Change
  • Transparent, simple, data informed, and advance academic excellence
  • Manage the cost pressures of the current environment
  • Improve service, quality and reduce costs
  • Improving processes to respond to:
      • Deep cuts in state appropriations
      • Decreasing parental and student ability to pay tuition bills
      • Severely constrained revenues
      • Declines in fundraising, investment income, and research grants
      • Increasing operational costs, deferred maintenance, and other capital
policy building committee
Policy Building Committee

Team Members

Leadership

  • Set direction
  • Provide guidance
  • Test alternatives
  • Make decisions

Deans

(A&S, CALS, CIS,

ENG. & DVM)

Provost,

Kent Fuchs

VP P&B,

Elmira Mangum

Budget Model Steering Advisors

  • Advise and represent stakeholders
  • Champion redesign efforts
  • Address policy issues
  • Propose alternatives

Senior Vice Provost, Research

Vice Provost, Undergrad. Ed.

Vice Provost,

Dean of Graduate School

  • Recommend specific solutions, policies and procedures
  • Determine budget impact of recommendations

Vice President, Facilities

University Faculty Senate - FPC

Senior Vice Provost, Land Grant

next steps implementation
Next Steps & Implementation
    • Undergraduate Tuition and Financial Aid Pooled and distributed
  • Space Use – Space Study launched, guidelines developed
  • Cost Allocation Methodology
  • University Support Pool – to fund central costs
  • Facilities and Administrative Reimbursements – under development
  • New York State Appropriation – under development
  • Graduate Tuition – no change
  • Cornell Abroad – moved to GP funding & CAM
  • Endowed Professorships – centrally held – moved to Dean’s office