State support budget plan
| Four Year Tuition Plan | |||||||||||||||
| Pro Forma | |||||||||||||||
| Year One | Year Two | Year Three | Year Four | ||||||||||||
| State Supported | % | State Supported | % | State Supported | % | State Supported | % | ||||||||
| Budget | Funding | Budget | Funding | Budget | Funding | Budget | Funding | ||||||||
| (in millions) | Guideline | (in millions) | Guideline | (in millions) | Guideline | (in millions) | Guideline | ||||||||
| Planned Enrollment adjustments: | |||||||||||||||
| Beginning FY FTES Headcount Enrollment | 14,500 | 15,000 | 15,000 | 15,350 | |||||||||||
| Ending FY FTES Headcount Enrollment | 15,000 | 15,000 | 15,350 | 15,350 | |||||||||||
| Enrollment Increase (500 FTES) | 500 | 0 | 350 | 0 | |||||||||||
| FY 2003 State Supported Base Budget | $ 200.00 | 72% | $ 214.05 | 71% | $ 224.40 | 70% | $ 234.70 | 69% | |||||||
| General funds | $ 100.00 | $ 102.00 | $ 102.00 | $ 104.04 | |||||||||||
| FY 2004 Expenditure Increases | |||||||||||||||
| Salary Increments | 2.50 | 3.00 | 3.20 | 3.40 | |||||||||||
| Fringe Benefits | 0.60 | 0.70 | 0.75 | 0.80 | |||||||||||
| New Facilities operations | 2.50 | 3.00 | 0.00 | 0.00 | |||||||||||
| Need based Financial Aid** | 0.60 | 0.60 | 0.80 | 0.80 | |||||||||||
| ARB Debt | 0.05 | 0.05 | 0.05 | 0.05 | |||||||||||
| Program Enhancements | 2.80 | 3.00 | 3.50 | 8.00 | |||||||||||
| Other (provide detail) | 0.00 | 0.00 | 2.00 | 0.00 | |||||||||||
| Sub Total Expenditure Increases | $ 9.05 | $ 10.35 | $ 10.30 | $ 13.05 | |||||||||||
| Expenses related to Enrollment Increase | 5.00 | 0.00 | 3.50 | 0 | |||||||||||
| FY 2004 Estimated Total Budget | $ 214.05 | $ 224.40 | $ 234.70 | $ 247.75 | |||||||||||
| Increment needed to balance | $ 14.05 | $ 10.35 | $ 10.30 | $ 13.05 | |||||||||||
| Less: | |||||||||||||||
| Efficiency effort (% of FY 2003 total budget) | 2% | (4.00) | 1% | (2.14) | 2% | (4.49) | 2% | (4.69) | |||||||
| Estimated State Appropriations Increase*** | 2% | (2.00) | 2% | (2.04) | 0% | 0.00 | 2% | (2.08) | |||||||
| Additional Revenue needed to balance | $ 8.05 | $ 6.17 | $ 5.81 | $ 6.28 | |||||||||||
| Tuition and Fee Increases: | |||||||||||||||
| Average % inc. in tuition revenue* | 6% | 5% | 5% | 5% | |||||||||||
| Resident tuition* | 5.00 | 4.75 | 5.00 | 5.25 | |||||||||||
| Non-Resident tuition* | 1.00 | 0.75 | 0.80 | 1.00 | |||||||||||
| Revenue from Enrollment Increases | 3.40 | 2.70 | |||||||||||||
| Revenue from State Supported Fees* | 0.50 | 0.75 | 0.50 | 0.50 | |||||||||||
| Total Planned Tuition & Fee revenue Inc. | $ 9.90 | $ 6.25 | $ 9.00 | $ 6.75 | |||||||||||
| Transfer to (from) reserve | $ 1.85 | $ 0.08 | $ 3.19 | $ 0.47 | |||||||||||
| Estimated Guideline Percent | 71% | 70% | 69% | 72% | |||||||||||
*See Tuition and Fee Schedule for individual rate increases.
** Estimate of additional need based financial aid required by tuition increases.
*** Expected increase in General Funds Only