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Financial Matters UNC Campus-wide Discussion January 21, 2009

Financial Matters UNC Campus-wide Discussion January 21, 2009. Driving our Financial Decisions.

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Financial Matters UNC Campus-wide Discussion January 21, 2009

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  1. Financial MattersUNC Campus-wide DiscussionJanuary 21, 2009

  2. Driving our Financial Decisions “We have learned from previous experience that we must be proactive to retain control of our destiny. Our campus-wide efforts to develop an academic plan and to make our budget process more transparent have prepared us for a time such as this. Our shared priorities will guide our financial decisions.” - President Kay Norton

  3. State Revenue Picture FY 08-09 compared to FY 07-08 All figures in millions.

  4. Governor’s Approach to Deficit 1. Use available cash balances. 2. Reduce budgets. 2.5%, FY08-09 (approx.) 7.5%, FY09-10 (approx.) 3. Use statutory reserves thereafter.

  5. UNC Revenue Sources

  6. UNC’s Approach 1. Investin university priorities and maximize revenues. 2. Manageexpenses. 3. Establish and implement a value- driven tuition and fees model.

  7. Investment Increased and improved recruiting • Scholarships (i.e., Greeley Promise and First Generation) • Increased number of admissions officers and focused recruiting efforts in target areas • Increased number of recruiting fairs • Innovative marketing initiatives

  8. Investment Improved student experience • Increased academic advising • Additional learning communities • Continued development of the freshman experience • Increased student research and civic engagement opportunities • Creation of the University College • Investment in faculty and staff

  9. Investment Enhance the image of the University • Development and deployment of a university-wide integrated marketing and communications strategy (now in the first phases of development) • Creating the UNC Center at Centerra, extending the University’s reach • Development of the Education Innovation Institute

  10. Other Investment? Q: What other areas of investment, or opportunities to increase revenues,should be considered as priorities?

  11. Managing Expenses Spending Evaluation • Shift resources vs. cutting vital operations • Allocate revenues to areas that are core to our mission • Continued investment means cutting back on some expenditures

  12. Areas for Expense Reduction? • Q: Where can we postpone and/or eliminate spending while protecting the university community we have been building?

  13. Current Funding/Pricing Model • Less Student Access

  14. Colorado Peer Comparison Source: Campus Websites. **(Average Cost) varies by area of study.

  15. Out-of-State Peer Comparison

  16. Hybrid Funding/Pricing Model • Greater Student Access

  17. Points of Communication 1. Campus-wide finance forums 2. Interactive budget web site 3. President’s updates

  18. Notable Dates January 23, 2009: Governor releases his budget recommendations forFY09-10. February 2, 2009: Joint Budget Committee meets to discuss Governor’s budget proposal for the current fiscal year (FY08-09), with recommendations going to the Senate on February 9.

  19. Questions and Discussion ?

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