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Town Meeting

American University of Beirut. Town Meeting. 2005 / 2006 Budget June 2005. A Year of Progress. Balanced Operating Results for last three years and Balanced Operating Budget for 2005/06

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Town Meeting

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  1. American University of Beirut Town Meeting 2005 / 2006 Budget June 2005

  2. A Year of Progress • Balanced Operating Results for last three years and Balanced Operating Budget for 2005/06 • Balanced Capital Budget that supports significant new construction and continued investment in academics and medicine • Continuing Revenue growth at the AUBMC • Inception of Strategic Planning Initiative

  3. Hard Realities • Investment draw is declining in 04/05 & 05/06 • Donor support for operations ( non-restricted funds) has declined • Rising fuel costs • Lebanese economy remains fragile and continues to suffer from slow growth • Substantial Government receivables

  4. Oil Prices

  5. Challenges Ahead • Stable enrollment • Better management of student enrollment with focus on quality and diversity • PhD programs on the horizon • Operating costs of new student facilities • Maintaining faculty strength • Continued renewal of AUB’s existing infrastructure

  6. What’s coming in 2005-06? • Major dislocations associated with major building projects • Outsourcing of HIP

  7. Budget Assumptions • Stable overall student population • 10% increase in fuel costs vs. 2004/2005 & 58% vs. 2003/2004 • 8% increase in Library periodical costs • 6% increase in replacement and renewal

  8. Recommendations • 2.75 to 5.0% increase in tuition rate • Average of 3.7% • 6% increase in student scholarships • 2.0% pool for merit increases

  9. Net Revenue Growth US$ Million Tuition Rate Increase 2.9 Increased Hospital Revenues 3.9 Sub-Total 6.8 Less: US Aid, Investment Income(1.0) Total 5.8

  10. Operational Investments

  11. Need Based Financial Support ($000)

  12. Faculty Investment * Including visiting academic staff and Medicine

  13. Cost Creep

  14. Non-Instructional Support Services Costs

  15. Vital Capital Projects Total Project Cost (USD Millions) • Charles Hostler Student Center 21.9 • Olayan School of Business 18.4 • Irani Engineering Complex 11.5 • Scientific Research Building 4.5 • Medical Arts Facility (old OPD) 8.0 • School of Nursing 2.8 • Issam Fares Institute 4.3 • Dar Al-Handasah Architecture Bldg 4.3 • Bechtel Bldg 3.0 • Engineering & Science Library 4.0 Total 82.7

  16. 05/06 Capital BudgetMajor Projects

  17. 05/06 Capital Budget Funding Renewal & Replacement $10.6 million Related Investment Income $0.8 million AUB Funding $11.4 million Balance Carry Forward (Prev.Approved) $4.8 million Loan Financing $12.7 million Donor Funding $8.6 million American Schools & Hospitals Abroad (ASHA) $1.8 million Total $39.3 million

  18. Long-Term Objectives • Academic Excellence • Service Excellence • Financial Balance

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