Slide 1

University of Massachusetts

Board of Trustees

June 17, 2015

FY 16 Operating Budget & Fees1FY16 Budget OverviewThe FY16 Operating budget for the University totals $3.1 billionRevenues increase by $147 million or 5%; expenses increase by $149 million or 5.1% over the FY15 year-end projection. Relatively breakeven budget proposal with a projected Operating margin of 0.2%. The major cost drivers include Collective Bargaining, enrollment increases, capital plan investments (depreciation, interest, O&M), increasing UMass financial aid.2

FY16 Overview3

Financial Aid4

Note: (1) All Other includes Private/Alternative Loans, Work Study, and various grant and loan programs. (2) starting in FY12, the University began breaking out waivers and reporting them separately as another form of UMass aid

The categories for UMass and UMass Waivers are estimated to each grow by 7% for FY16

FY16 UMass projected to be $170 million

FY16 UMass Waivers projected to be $81 million

Since FY06 UMass Financial Aid has grown by 133%

FY16 Student Charges56Undergraduate Student ChargesProposing an up to 5.0% increase in tuition & mandatory curriculum fees for FY2016Other Mandatory Fee increases are proposed for in state undergrads Average room and board rates increases as follows:

6Other Mandatory FeesThe majority of the Universitys peer institutions charge some form of technology fee ranging from $75 to $445. Implementing or increasing the Student Technology fee to $250 on all campuses (except Medical School) to improve the standard of network infrastructure.

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7Peer Comparison8Cost of Attendance is the yearly total amount at attend college which includes tuition and fees; room and board (or a housing and food allowance); and allowances for books, supplies, transportation, loan fees, and dependent care. It also includes miscellaneous and personal expenses.

The total cost of attendance for In-State Undergraduate students at UMass and peer institutions.

The campuses maintain their position in the middle of the peer group even with the FY 16 proposed fee increase added to their cost and the peer institutions cost of attendance shown at the FY 15 rates.

The institutions listed are the UMass System official peer set land grant institutions.9Graduate Student Charges

Graduate increases consistent with educational costs.New Out of State Tuition & Mandatory Fee category at the Medical School for the MD degree.The Medical School is also increasing its Health / Counseling Fee by $24 to support additional clinical hours based on increased usage.