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St. Cloud State University Budget Update and Planning August 29, 2006

St. Cloud State University Budget Update and Planning August 29, 2006. A MEMBER OF THE MINNESOTA STATE COLLEGES AND UNIVERSITIES SYSTEM. Agenda Enrollment Trends Funding Trends FY 06 Status FY 07 budget Budget Committee FY 08-09 Planning Future Resource Allocation. FY 06 Revenue.

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St. Cloud State University Budget Update and Planning August 29, 2006

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  1. St. Cloud State UniversityBudget Update and PlanningAugust 29, 2006 A MEMBER OF THE MINNESOTA STATE COLLEGES AND UNIVERSITIES SYSTEM

  2. Agenda • Enrollment Trends • Funding Trends • FY 06 Status • FY 07 budget • Budget Committee • FY 08-09 Planning • Future Resource Allocation

  3. FY 06 Revenue

  4. FY 06 Budget Expenditures

  5. FY 07 Revenue

  6. FY 07 Expenditures

  7. Budget Committee Charge: To advise on the process, system and structure of the allocation/reallocation of resources to insure support of the mission, vision and strategic plan of St. Cloud State University.

  8. Budget Committee Membership:

  9. Budget Committee Expectations • Initial activities • Current year activities • Ongoing activities

  10. Initial Activities – Recommend • Budget principles • Base budget determination or level • Budget model for future

  11. Budget Principles: Ensure the allocation of resources has guiding principles that ensure the integrity and structure to best serve the university.

  12. Base Budget: An amount of funds that will allow the various units and the university as a whole to operate as planned; although with marginal flexibility.

  13. Base Budget Considerations • Historical spending • Peer budgets • CIP comparisons • Trends • Standards • Set/reviewed about every 6 years

  14. Budget Models for the Future • Incremental – percent across the board • Formula – enrollment, space, personnel, etc. • Zero based – start from scratch every year • Responsibility Center – responsible for revenue and expense, “taxed” central services • Initiative based – special purpose budget, one time for thinking outside the box opportunities • Performance based – special purpose budget, one time for continued improvement in performance • Hybrid – variations/combinations of the above

  15. Current Year Activities -Recommend • FY 08 and FY 09 scenarios • FY 08 and FY 09 Initiatives/performance

  16. FY 08-09 Planning • Develop scenarios from base • Faculty hiring decisions begin October 07 • Estimated allocation April 08 • Appropriation in May 08 • Initial supply and equipment allocations May 08 • Tuition set in June 08 • Initial allocation July 08

  17. On Going Activities • Keep abreast of trends • Review quarterly budget reports • Consider influences of budget actions on KPI’s

  18. Next Steps • Form Budget Committee now • Keep focus on performance • Hire analyst to develop and maintain reports • Develop reports consistent with single format • Town Hall meeting on progress in October

  19. Future Resource Allocation • Guided by Strategic Plan • Based on measured outcomes • Responsibility and allocation at common point

  20. Budget WEB site URL www.stcloudstate.edu/budget

  21. Questions

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