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September, 2009

The Budget For Slippery Rock University. September, 2009. Entering: 2009-10. $5 million pending liability $1.2 million in hiring delays $1.35 million in reduction of supplies/services budgets $1.7 million in deferred bond payment $750,000 to be determined

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September, 2009

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  1. The Budget For Slippery Rock University September, 2009

  2. Entering: 2009-10 • $5 million pending liability • $1.2 million in hiring delays • $1.35 million in reduction of supplies/services budgets • $1.7 million in deferred bond payment • $750,000 to be determined • Added liabilities from delay in budget decision • $3.5 million in advances to students for PHEAA • $50,000 in failure to fund Act 101 students • Cash flow impacts investment income • Crisis in SRU Foundation Investment Income • Reduction of scholarship commitment of $335,000

  3. Budget: 2010-11 • REVENUE • Composed of tuition, fees, state appropriation, and interest • Total: $110,221,087 • EXPENDITURES • Composed of salaries, wages, supplies/services, capital, debt payments • Total: $119,175,509 • Gap:-$8,954,422

  4. SRU Stays With Values • The budgeting process is driven by basic principles: • Student comes first. Educating students is always the highest priority. • Consultation with faculty, students, and administration on matters of the strategic plan and budget decisions are an inherent integral part of the shared governance of the University. • Cuts and/or increases are not made “across-the-board.” Doing so violates the purpose of the strategic plan and is a formula for mediocrity. • The University cannot be all things to all people. The budget reinforces the strategic priorities of the University to preserve the overall quality of the institution. “When there are not enough biscuits to go around, the table manners tend to decline” Attributed to Joab Thomas, Former Penn State President

  5. Strategic Decisions That Set SRU Apart • We will invest in Quality • Commit to a faculty that is full time and professionally credentialed. • Commit to enhancing academic programs to assure accreditation and national recognitions. • Commit to upgrading our teaching/learning environment, campus safety and security. • Commit to recruiting, educating, and graduating high quality engaged students.

  6. Budget Calendar • September 15 through November– • Open budget workshops.  3 Scheduled for September 23,29, and 30 • Opportunities to understand elementary aspects of the university budget.  Goal is to educate people to be able to suggest informed ideas. • October through February 5, 2010 – • Budget units consider budget reductions they can make • October through February 5, 2010 – • Individuals will be given their opportunity to propose ideas (see web site). • January through March – • V P's consider proposals coming from within their division as well as those proposed and prepare presentations for Budget Committee and President. • February – • Update to Council of Trustees at February meeting. • April 16 – • Divisional VP's make final proposals to Budget Committee by April 16 (timed to be one week after BOG meeting). • May – • Final budget presented to the COT in May meeting.

  7. Your Recommendations Your Staying Informed Submit your ideas. They will be anonymously posted Follow everyone’s ideas

  8. *Example of Personnel Expenditures. All other employee subsets are budgeted the same

  9. Useful Budget Terms • Educational & General Activities (E&G) • Support the primarily mission of the institution such as instruction, academic and administrative support, and public service. • Funded primarily by: • Tuition, • Fees, • State appropriations, • Investment income and • Other revenues.

  10. Useful Budget Terms • Auxiliary enterprise activities- • Self-supporting activities that charge a fee to cover the cost of those services. • Enterprise activities include residence halls, dining services, recreational centers and student unions. • University Auxiliary Enterprises receives no subsidy from E&G fund. • Other than an indirect cost allocation, auxiliary enterprise revenues are not permitted to support E&G operations.

  11. Useful Budget Terms • Recurring funds/expenditures • Funds and expenses that recur each year such as: employee salaries and benefits, utility costs, educational supplies and debt service. • Non-Recurring funds/expenditures • Funds and expenses that are available in one year but not the next. They are also defined as one-time funds. • Non-recurring funds should not be relied upon to pay for expected recurring expenses.

  12. Useful Budget Terms • Restricted activities • These are activities whose revenue sources have externally established limitations or stipulations placed on their use such as grants and contracts.

  13. Budget Dynamics • Where to get additional details about the budget • Department chairs and budget officers have access to SAP.

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