The Ohio State University Board of Trustees



The Ohio State University Board of Trustees

Fiscal Affairs Committee

September 17, 2009

TOPIC:

FY 2010 Current Funds Budget

CONTEXT:

This is the final step in approval of the FY 2010 operating budget. This is based on the tuition and fee levels approved by the full Board in June and the overall expenditure targets approved by the Fiscal Affairs Committee in July.

SUMMARY:

Included are the following:

• A summary of the Current Funds Budget (Attachment 1)

• A description of what is included in the Current Funds Budget Document (now available on line) (Attachment 2)

• FY 2010 Priorities (Attachment 3)

• What Happens Next (Attachment 4)

CONSIDERATIONS:

• Are the strategic drivers of the budget identified?

• Have the emerging issues for FY 2010 been presented?

• Is the calendar for the rest of FY 2010 clear?

• Is there any additional information the Fiscal Affairs Committee would like to have?

REQUESTED OF THE FISCAL AFFAIRS COMMITTEE:

Approval of the FY 2010 current funds budget.

Attachment 1

FY 2010 Current Funds Budget

Summary

• This budget provides for an overall spending level of $4.4 billion for all campuses, all funds. This is a 3.7% increase over FY 2009.

• This budget provides for an overall increase of 4.2% in spending for Columbus Campus General Funds. The largest increases will go to the colleges to support additional enrollments and for undergraduate student financial aid.

• The tuition freeze will remain in place through the end of Spring Quarter, saving students and their families $14 million, compared to the increase permitted under state law.

• The reduction in benefit charges as a result of savings in health care costs will save General Fund units $4.6M in FY 2010, and all funds nearly $15M.

• Major areas of programmatic emphasis include:

Targeted Investments in Excellence $10.0M

Master Planning Review $ 4.0M

Semester Conversion $ 3.5M

Development Support $ 3.5M

• State SSI appropriations for the Columbus Campus will increase $16 million or 4.3% over FY 2009 levels; however, total state support will decrease $39 million or 7%.

• State SSI appropriations for the Regional Campuses will remain flat in FY 2010. Line items will be reduced $2.0 million or 5%.

• Preliminary projections show the University will be able to meet its academic goals for FY 2010 and FY 2011 under the parameters established in the state biennial budget bill, if appropriations are released as planned.

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Attachment 2

Summary of Information in CFB Document

(NOTE: This report can be accessed on line at )

Priorities

• Budget Context

• Academic Progress

• Financial Progress

• Budget Allocation Process

• FY 2010 Priorities

• The University System of Ohio

Revenue Summary

• Overview

• State Support

• Student Fees

• Sponsored Research

• Internal Overhead and Service Charges

• Assessments

• Other Income

• Gifted Endowment Distributions

Expenditure Summary

• Resource Allocation

• Changes by Category

• Changes in College and Academic Support Units

Regional Campuses

• Budget Context

• Revenues and Expenditures

Multi-Year Commitments

• Multi-Year Commitments

• Financial Goals

• Conclusions

Selected Definitions

Tables and Appendices

Attachment 3

FY 2010 Budget Priorities

The FY 2010 Operating Budget Advances the following priorities:

• Students First

Continues resident undergraduate tuition freeze into its third year. Lowest three year increase since mid 1950's.

• Faculty Success/Re-cast Research Agenda

Funds $10 million allocation for Targeted Investments in Excellence (year four of a five year, $50 million investment).

• Commit to Our Communities:

Strengthens the Offices of Outreach and Engagement and Technology Transfer.

• Financial Stability:

Advances academic goals while maintaining sufficient flexibility to address continued economic uncertainty.

• One University:

Aligns strategic objectives and strengthens Master Planning, Development and Students Information Systems.

Attachment 4

What Happens Next?

October - Review of FY 2009 Audited Financials

November Year End Financial Report

February FY 2009 Budget v. Actual

Mid-Year Financial Review

May FY 2011 Preliminary Budget Recommendations

Financial Benchmark Report

June FY 2011 Budget Approval

Approval of Tuition and Fees for FY 2011

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