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FISCAL ADVISORY Notes – May 13, 2005
Present: Andy Reese, Charlotte Rayne, Jackie Eberts, Jo Laird, Greig Mitchell, Alan Selser, Jerome DeRidder, Lisa Gray, Betty Crockett Absent: Fred Kundell, Memo Diriker
The meeting was called to order at 9:00 am. Notes from the April 1, 2005 meeting were approved as written. Notes will be placed on the web today. Notes from today’s meeting will be circulated and approved electronically so that the information is available in a timely manner.
Board of Regents’ Retreat
As stated in the April notes, the Board of Regents asked each campus to develop a set of scenarios that might project how enrollment growth would occur given funding increases of 3%, 5%, or 7%. What would SU do as far as tuition increases, and how much could we do to help the USM increase enrollments? SU developed a model that would allow us to evaluate different courses of action. In each case, we would try to project our costs considering every student added, additional expenses (for example, increases in faculty, support dollars, clerical assistance, student services, etc.). Also, we would project how we would improve/invest in campus enhancements. The model was presented at the retreat. However, there was no outcome and it would be impossible to say what will come of it in the future. Thus, it would be considered a work in progress.
Alan Selser shared the Executive Summary developed. It presented each percentage increase along with how much enrollment could be increased at that funding level. For each level, it also proposed the estimated tuition range, program enhancements, need based financial aid that would be built in as well as total funding required per FTES. The higher the funding level, the higher the enrollments, and the lower the percentage increases in tuition that would be required. However, the number of students that realistically could be added would be limited by our buildings and facilities available to house the students.
The President presented a detailed description of the 5% level to the Board of Regents at the retreat.
End of Budget Year Wrapup
It is now the time of the year to make decisions regarding the end of the year remaining balance. A number of items relating to People Soft, computer replacements, physical plant emergency repairs, and general operating expenditures have already been taken care of, however, there is a balance still available. The Vice Presidents are developing a “wish list” of how the remaining funds could be used. As soon as the list is available, either Greig Mitchell or Alan Selser will let Jo Laird know so that a meeting with the committee can be scheduled. The Fiscal Advisory Committee will meet and delibate on the VP’s wish list which will include items previously identified as urgent needs to include fleet and facility renewal.
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