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Campus Budget Update 2011-2012 December 7, 2011 PowerPoint Presentation
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Campus Budget Update 2011-2012 December 7, 2011 - PowerPoint PPT Presentation


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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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Presentation Transcript
slide1

Campus Budget Update

2011-2012

December 7, 2011

slide2

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
slide3

Financial Results

2010-2011

October 10, 2011

slide4

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

slide5

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

slide6

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
slide7

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
slide8

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
slide9

Looking Forward

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