ferris state university budget overview january 2009 david l. eisler, president sally depew, budget...
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Ferris State University Budget Overview
January 2009
David L. Eisler, President Sally DePew, Budget Director
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FSU Operating Funds
• General Fund: Primary support from State of Michigan and student tuition; supports academic mission of the University
• Auxiliary Fund: Self-supporting operations of the University (housing, dining, golf course, etc.)
• Designated Fund: Supported from gifts and grants for designated purposes
• Expendable Restricted: Restricted State and Federal Grants and Contracts
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Current Operating Funds Revenues - FY 2008 - $232
Million
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FSU FY 08 General Fund Spending
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Ferris’ FY 09 General Fund Operating Budget - $172
Million
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Appropriation HistoryFinancial Statement Amounts
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Calculated Appropriation per FYES (Student)
FY 01 through FY 09Appropriation
payments per student have declined 29%
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State Appropriation per FYESFY 01 Indexed for Inflation Compared to
Amount Paid
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10-Year Tuition Increase
Resident, Undergraduate taking 15 Credits
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State Funding and TuitionRate of Change
Inverse Relationship between State Funding and
Tuition
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FSU General Fund Revenue Perspective
FSU - 1980FSU - 2009
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Tuition and State Dollars per FYESIndexed to Inflation
Between 2001 and 2008 annual increase
in cost per student is 2.1%
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FY 09 University Budget
• Budget reallocations of $1M• State increase of 1%
– State increase in jeopardy
• Tuition increase of 6.3%
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State of Michigan Budget
FY 2009 - $43.9 Billion
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State of Michigan Spending$9.7 Billion General Fund/General Purpose
Budget - FY 2009
$.3 B
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2008-2009University
Appropriations
(Millions of Dollars)
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Michigan
• Unemployment 16-year high – 9.6%
• Michigan lost 113,000 jobs last year
• Unemployment predicted to reach 11% for next two years
• Job loss for decade predicted to be674,000 jobs
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Corrections
• 50,400 people in state prison• Prisoner costs $31,000 annually• Prison population quadrupled
in 25 years• Michigan 1 of 4 states that
spendsmore on corrections than higher ed
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State General Fund Revenues
Source: Senate Fiscal Agency
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State Budget Status
• December executive order – $133 million
• Revenue estimates– $917 million shortfall– $578.5 million in general fund
(11.3%)– $712.8 million in carry
forward
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Revenue Estimates 2010
• $1.4 billion shortfall from initialprojected revenues for 2009
• $371.6 million additional dropin general fund revenues (4.5%)
• $950.1 million combined general fund impact
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Ferris Actions
• November ‘08 vps hold 1% of current year budget
• Planned reductions are in positions and done through attrition
• Additional 1% central reduction• $2.5 million (5% of state
appropriation)
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Additional Michigan Challenges
• No new taxes• Calls to cut Michigan
Business Tax• Proposal to eliminate the
Michigan Promise Scholarship• Effectiveness in Lansing• Outbound migration
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Enrollment
• High school class of 2009 beginsdecade of reductions in high school graduates in Michigan
• Reduction of 105 full-time studentsis $1 million
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Transfer Scholarships
• Academic Excellence– 3.7 transfer gpa– Increase from $2700 to $4000
• Phi Theta Kappa– 3.5 transfer gpa– Increase from $1700 to $3500
• Transfer Academic Achievement– 3.3 transfer gpa– Increase from $1500 to $3000
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Chicago Initiative
• Students from Cook, DuPage, Lake,Will, Kane, McHenry– 74 applicants, 22 enrolled (2007)
• In 2008, with unconditional admission eligible for out-of-statescholarship– 125 applicants, 52 enrolled
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Neighboring States
• Ohio – 27 applicants, 6 enrolled• Indiana – 45 applicants, 9
enrolled• Illinois (excluding Chicago) –
40 applicants, 7 enrolled• Wisconsin – 30 applicants, 11
enrolled
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Retention
• Renewal criteria WNF scholarships
• Add 3rd year renewal to transferscholarships