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2006-2007 Budget Approved

2006-2007 Budget Approved. Contents. State Funding Picture 3 Effect on North Central State College 4 Board of Trustees’ Planning Goals 5 State Share of Instruction Allocation by Sector 6 State Share of Instruction by Institution 7/8 FY State Allocation 9

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2006-2007 Budget Approved

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  1. 2006-2007 Budget Approved

  2. Contents State Funding Picture 3 Effect on North Central State College 4 Board of Trustees’ Planning Goals 5 State Share of Instruction Allocation by Sector 6 State Share of Instruction by Institution 7/8 FY State Allocation 9 State Appropriation as a Percent of Total Budget 10 State Support Comparison 11 Assumed Local vs. Actual Contributions 12/13 Comparison with other Institutions 14/15/16 Tuition Comparison 17 Enrollment Fall Quarter Comparison 18 Enrollment Data 19 Analysis of Net Assets 20 Fund Balance 21 Budget Planning Proposals/Recommendations 22 Budget Overview 23 Revenue by Source 24 Expenditure by Type 25 Revenue by Source (Approved) 26 Expenditure by Type (Approved) 27 Approved Budget Planning Proposals/ Recommendations 28

  3. State Funding Picture • Higher Education cut $10 million in FY 2004. • Higher Education cut $17.4 million in FY 2005. • State funding per FTE has dropped over 22% since FY 2001. • Excluding Debt Service, Higher Education appropriations increased by $10.4 million in FY 2006 and by $64.2 million in FY 2007(assumes + $30 million SSI FY ’07)

  4. What this means for NC State • Despite increase in overall higher education funding appropriations, Fiscal Year 2006 appropriation was reduced by $160,645. • Fiscal Year 2007 appropriation reduced by $153,463. • Lost over $1,000 per student (FTE) in state funding.

  5. Board of Trustees’Planning Goals • Maximize Student Access • Guarantee Quality Education • Guide Towards Educational Success • Workforce Development • Resource Development • Community Resource • Community Input

  6. State Share of Instruction Allocation by Sector

  7. State Share of InstructionActual FY 2006 and Projected FY 2007

  8. State Share of InstructionActual FY 2006 and Projected FY 2007

  9. FY State Allocation

  10. State Appropriation as a Percent of Total Budget

  11. Student Revenue Compared to LocalContribution Assumption (per FTE)

  12. Assumed Local Contribution vs. Actual Local Contribution(Instructional and General Fees)

  13. Comparison with Other Institutions

  14. Comparison with Other Institutions

  15. Comparison with Other InstitutionsThree-Year Success Measures for First-Time Degree-Seeking StudentsFull-Time Students Enrolled in Fall 2001 Pages 13, 14 & 15 data from: The Performance Report for Ohio’s Colleges and Universities 2005 (Ohio Board of Regents)

  16. Tuition Comparison Note: Tuition is based on 15 credit hours for 3 quarters or 2 semesters. FY 2006 (Fall 2005) actual, FY 2007 (Summer 2006) estimates in discussion.

  17. North Central State College Enrollment DataFall Quarter

  18. North Central State CollegeEnrollment Data

  19. Analysis of Net AssetsAdoption of Governmental AccountingStandards Board No. 34/35

  20. Estimated Fund Balance Calculation

  21. Budget Planning Proposals/Recommendations • Assume SSI (+ 30 million) increase not available • Assume enrollment increase of 2% for 2006-2007 • Assume vacant positions not filled • Staff positions • Institutional Research • Workforce Development • Hiring freeze pending review at mid year • Reduce overload/adjunct dollars by 10% • Implement compensation review 50% FY ’07 & 50% FY ’08 • Implement 2.5% Wage Increase • Use Fund Balance to cover projected deficit

  22. Budget Overview

  23. Revenue by Source

  24. Revenue by SourceJune 28, 2006 • * Increase $126,182 OBR Projections dated 6/27/06 with additional $30M • ** Decrease $150,000 updated GM revenue projections

  25. Approved Budget Planning Proposals/Recommendations • Assume SSI (+ 30 million) increase is available • Assume enrollment increase of 2% for 2006-2007 • Assume vacant positions not filled • Staff positions • Institutional Research • Workforce Development • Hiring freeze pending review at mid year • Reduce overload/adjunct dollars by 10% • Implement compensation review 50% FY ’07 & 50% FY ’08 • Implement 2.5% Wage Increase • Use Fund Balance to cover projected deficit

  26. Questions

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