9 Part 3: Financial Projections Overview Within the E&G, Auxiliary, and Net Asset sections below, provide additional detail related to the projected revenue and expenditures and impact on the overall university projected operating results. 1. Further outline the financial strategy, addressing revenue and expense alignment, student-to-faculty ratio achievements, and stabilizing reserve levels against the 40% goal associated with university financial sustainability ratios. 2. For high-risk universities and/or universities with housing occupancy below 70% for any year within the projection period and associated outstanding debt, provide a plan, within the Auxiliary section, which addresses occupancy, any associated housing debt, and long-term sustainability. Educational and General (E&G) Revenues and Expenses Describe the E&G financial projections: 1. If the university has a balanced budget or a surplus, briefly describe: (1) planned new expenditures; (2) transfers for strategic investment; and/or (3) increase in reserves to improve sustainability. Financial Overview Chart Actual Reforecast FY 2022-23 FY 2023-24 FY 2024-25 % Change FY 2025-26 % Change FY 2026-27 % Change Total Unrestricted (E&G and Auxiliary) Budget Total Revenues $179.6 $188.5 $190.5 1.1% $193.1 1.3% $195.9 1.5% Total Expenditures and Transfers to Plant Funds 178.6 189.2 190.5 0.7% 193.1 1.3% 195.9 1.5% Revenues Less Expenditures/Transfers to Plant Funds $1.1 ($0.7) $0.0 $0.0 $0.0 Surplus/(Deficit)--Excludes Transfers to Plant Funds $10.1 $15.8 $7.1 $7.1 $7.6 Use of Supplemental Resources for One-Time Needs/ Strategic Initiatives 0.6 0.7 0.0 0.0 0.0 Revenues and Use of Supplemental Resources/Adjustments Less Expenditures & Transfers $1.6 $0.0 $0.0 0.0% $0.0 0.0% $0.0 0.0% Total Actual/Estimated Unrestricted Net Assets $75.5 $85.0 $87.8 3.3% $83.5 -4.9% $79.6 -4.6% Total Actual/Estimated End of Year Cash Balance $93.0 $102.5 $105.3 2.8% $101.0 -4.1% $97.2 -3.8% Annualized FTE Enrollment 6,648.05 6,875.20 6,875.20 0.0% 6,875.20 0.0% 6,875.20 0.0% Fall FTE Student/Fall FTE Faculty Ratio 17.8 18.6 18.7 19.0 19.3 Annualized Unrestricted FTE Faculty, net of turnover 364.77 355.58 353.71 -0.5% 349.05 -1.3% 344.39 -1.3% Annualized Unrestricted FTE Nonfaculty, net of turnover 398.12 414.93 421.34 1.5% 420.42 -0.2% 419.49 -0.2% Total Unrestricted Employee FTE (Annualized) 762.89 770.51 775.06 0.6% 769.47 -0.7% 763.88 -0.7% ($ in Millions) Projected E&G Chart Actual Reforecast FY 2022-23 FY 2023-24 FY 2024-25 % Change FY 2025-26 % Change FY 2026-27 % Change Total E&G Budget Total Revenues $136.9 $141.7 $140.5 -0.9% $142.1 1.1% $143.9 1.3% Total Expenditures and Transfers to Plant Funds 136.0 142.5 140.5 -1.4% 142.1 1.1% 143.9 1.3% Revenues Less Expenditures/Transfers to Plant Funds $1.0 ($0.7) $0.0 $0.0 $0.0 Surplus/(Deficit)--Excludes Transfers to Plant Funds $3.7 $10.3 $1.2 $1.0 $0.2 Use of Supplemental Resources for One-Time Needs/ Strategic Initiatives 0.6 0.7 0.0 0.0 0.0 Revenues and Use of Supplemental Resources/Adjustments Less Expenditures & Transfers $1.5 $0.0 $0.0 $0.0 $0.0 Total Actual/Estimated Unrestricted E&G and Plant Net Assets $38.2 $46.9 $45.7 -2.7% $45.9 0.5% $45.3 -1.4% Total Actual/Estimated E&G End of Year Cash Balance $55.0 $63.7 $62.5 -2.0% $62.7 0.4% $62.1 -1.0% Projected ($ in Millions) I I I I I I I
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