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  1. June 2008Finance and Budget PresentationPresident Nancy L. ZimpherMonica Rimai, Senior VP, Administration and FinanceJune 24, 2008

  2. Presentation Agenda • FY 2008 Close • Operating • Capital • FY 2009 Budget • Operating • Capital • Status on 3-5 Year Plan

  3. FY 2008 Year End Projection

  4. FY 2008 Year End Projection

  5. FY 2008 Year End Projection

  6. FY 2008 Year End Projection

  7. FY 2008 Year End Projection

  8. FY 2008 Year End Projection

  9. FY 2008 Year End Projection

  10. FY 2008 Year End Projection

  11. FY 2008 Major Capital Projects

  12. Major Projects in Design and Construction During FY 2008

  13. Kettering Preclinical Science Lab Renovation Description: Renovation of space for research labs on Level 200 Justification: To meet the need for additional research space for the Department of Environmental Health Funding: Debt Total Project: $2.76 million

  14. Langsam Library Roof Description: Roof replacements Justification: Complete replacement of roofs required to protect library Funding: Debt Total Project: $2.7 million

  15. McMicken Perimeter Heating Description: Heating system upgrades Justification: Only half of this 1948 building’s heating systems have been replaced - the south portion in 2007 Funding: State Total Project: $2.2 million

  16. MSB Rehabilitation Ph 1, Center for Academic Research Excellence (CARE), and Eden Quad Description: Renovation of 171,000 sq ft for the medical library and student service space and 240,000 of new academic & research and swing space Justification: To address research space needs and upgrades to existing MSB systems. Funding: State, Debt, Federal Grants, Gifts, Local Total Project: $204.8 million

  17. MSB Rehabilitation Phases 2-5 Description: Renovation of mechanical and building systems for the 940,000 gross sq ft Medical Sciences Building Justification: The existing systems are extensive, deteriorated, and at the end of their useful life. Lab air requirements have changed Funding: State, Debt, Federal Grants, Gifts, Local Total Project: $204.0 million

  18. Teachers College/Dyer Renovation - Phase 2 Description: Major renovation of approximately 1/3rd of the total complex of three buildings originally built between the 1930’s and 1950’s Justification: Major renovation needed to address deteriorated systems, windows, and building envelope; and to respond to current teaching needs and standards Funding: State, Debt, Gifts, Local Total Project: $18.9 million

  19. Zimmer Rehabilitation – Phase 1 Description: Renovation of the large lecture hall, and supporting HVAC, life-safety, and audio-visual systems Justification: Furniture, finishes, audio visual, and systems dated to original construction in the 1970’s. Fire suppression of the large auditorium necessary Funding: State & Debt Total Project: $3.1 million

  20. Clifton Court Garage Renovation Description: Replace top deck, replace concrete & structural steel, upgrade electric and ventilation systems Justification: Major structural repairs needed for this 1960’s-era garage Funding: State & Debt Total Project: $4.6 million

  21. FY 2009 Budget

  22. FY 2009 University Current Funds Budget Plan Summary of Budgeted Resources Total University Resources by Source

  23. FY 2009 University Current Funds Budget Plan Summary of Budgeted Expenditures Total University Expenditures by Function

  24. FY 2009 Budget Process • Transparency • President’s Budget Advisory Committee (PBAC) • Fiscal Coordinating Committee (FCC) • Academic Operations Committee (AOC) • Faculty Senate • Cabinet • Executive Committee • Board of Trustees (BOT)

  25. FY 2009 Income Assumptions • State Appropriation Increase of 9.8% $14.9M

  26. FY 2009 Income Assumptions • Tuition & Fees • Resident Undergraduate – frozen • State Mandate • Non-Resident Undergraduate – no increase • University Decision • Gross Tuition Inflation $2.3M • All Graduate Programs – increase 2% • Professional Schools – increase 2% • College of Medicine – increase additional 2% • FY08 Core Tuition Adjustment 600K • Enrollment Increase per IEP Goals 3.9M • Total $6.8M

  27. FY 2009 New Expenditure Allocation Highlights • Achieving Academic & Research Excellence • Academic Priorities $ 1.1M • Supporting Enrollment Growth 500K • UC|21 – 21st Century Learning 1.4M • Academic Salaries 7.2M* • Funding the Research Initiative 3.0M • Library Acquisition 267K • Academic Building & Lab Integrity 1.6M • Revenue Generating Programs 3.5M • *This figure represents the permanent AAUP salary increase for both FY 2008 and FY 2009

  28. FY 2009 New Expenditure Allocation Highlights • Other University Expenditure Highlights • 2% Salary Increase – unrepresented staff $ 2.0M • Union Contract Salary Increase – non-faculty 650K • Performance-Based Budgeting 258K • University Diversity Initiative 350K • University-Wide Roof Repair 500K

  29. FY 2009 Summary

  30. FY 2009 Capital Budget

  31. Criteria for Projects • Academic Priorities • STEMM • Highest and Best Use of Existing Space • Renovations of Existing Academic Space • Sustainability

  32. State Capital Appropriations2009-2010 Biennium • Uptown Campus • Medical Science Building Rehabilitation – $26.4M • Basic Renovations - $10.7M • The Procter Hall Façade Replacement project has been allocated $4.0M • The remaining $6.7M has been allocated to small renovation projects below the threshold for Board approval • Instructional Equipment - $1.7M • Clermont College • Capital Allocation – $751K • Basic Renovations - $326K • Instructional Equipment - $87K • Raymond Walters College • Capital Allocation – $1.6M • Basic Renovations - $501K • Instructional Equipment - $130K

  33. Projects for Budget Approval

  34. Energy Savings Projects (Ongoing) Projects for Budget Approval Description: Projects to improve plant efficiencies, improve existing systems’ efficiencies and operations, and to provide major upgrades to facilities Justification: To reduce energy use, to comply with the mandates of HB 251, and to meet the commitments of the American College and University Presidents’ Climate Commitment Funding: Debt proceeds Total Project: $10.0 million

  35. Projects for Budget Approval Description: Demolition of North Wing Lab building Justification: Unused facility is not structurally sound and does not provide appropriate space for future research Funding: Debt Total Project: $3.0 million • Kettering North Wing Demolition/Site Preparation • DRC Comments: • Agreement with building assessment • Recommend demolition approval

  36. Projects for Budget Approval Description: Replacement of existing panels with new sun control façade Justification: Existing panels contain asbestos and bird-droppings Funding: State Basic Renovation funds Total Project: $4.0 million • Procter Hall Façade Replacement

  37. Projects for Budget Approval Description: Renovation of approximately 5,000 sq ft of existing chemistry teaching labs Justification: Labs have not been upgraded since original construction in 1970’s - systems, equipment, and finishes outdated and deteriorated, current teaching needs and standards need to be met Funding: Debt proceeds Total Project: $6.0 million • Rieveschl 500 Level Teaching Labs Renovation

  38. Projects for Budget Approval Teachers College/Dyer Renovation Phase 2A Description: Departmental and faculty office renovations, teaching lab renovations, consolidation of College operations in Edwards, and restoration of site and perimeter access Justification: Allows mission-critical College operations that are split to function in most effective manner until Phase 3 funding can be secured Funding: Debt Total Project: $2.5 million

  39. Morgens& Scioto Residence Hall Upgrades Projects for Budget Approval Description: A series of separate projects to upgrade fire alarms, install fire suppression, replace furnishings, and improve apartment interiors Justification: The buildings are not fire-suppressed, alarms need upgrading, and furnishings need replacement Funding: Debt Total Project: $10.0 million

  40. Status on 3-5 Year Plan

  41. Status on 3-5 Year Plan • Guiding Principles • Transparency • Speaking the Truth • Collaboration • Building Capacity

  42. Cost Containment and Efficiency • INITIATIVES TO INCREASE REVENUE • INITIATIVES TO IMPROVE ACADEMIC QUALITY • INITIATIVES TO USE OUR LIMITED • HUMAN AND FISCAL RESOURCES • MORE EFFECTIVELY

  43. Status on 3-5 Year Plan • Recovery Factors • Creation of A&F • Cash Policy • University-Wide Approach • Accountability • Financial Policies • Business Reviews • Realistic Budgeting

  44. Status on 3-5 Year Plan • Creation of Administration and Finance • Checks and Balances • Internal Audit • General Counsel • Speak the Truth

  45. Status on 3-5 Year Plan • Operating Cash Policy • Board approved in November 2006 • Established operating cash balance levels • Disciplined payoffs of existing deficit funds • No new deficit funds permitted without approval

  46. Status on 3-5 Year Plan Average Minimum

  47. Status on 3-5 Year Plan • University-Wide Approach • Campus Services – ahead of schedule • College of Medicine – paid off Milliennium Plan • Athletics – work in progress • Utilities – ahead of schedule • West Campus Colleges – making headway • Research – good start • Benefits – deferred

  48. Recovery Plan Cash Reserve Update • Quasi-Endowment and Designated Funds • Quasi transferred to Cash Reserve in FY 2007 - $38.6M • Funding used in FY 2008 to pay off deficits while adhering to underlying donor restrictions - $18.1M • College of Medicine - $15.7M • College of Engineering - $1.3M • Various other colleges - $1.1M • Current Quasi Cash Reserve balance - $20.5M • 1% of Monthly Operations Cash Balance