board of regents 2021-2022 tuition & annual operating budget

PowerPoint PresentationAnnual Operating Budget May 12, 2021
Summary
• A 1% undergraduate tuition increase, coupled with a comprehensive student aid program, maintains student affordability while providing much needed investments to support student success goals
• Overall housing fees are proposed to increase at a weighted average of 3%
• Parking rates for students, faculty and staff will be kept at FY21 approved rates
• Meal plan rates proposed to increase approximately 2.8% in line with CPIU Food Away from Home Index
PART I : TUITION & FEES
The FY22 operating budget spending authorization is recommended at $264.5
million, an increase of $13.5M (5.4%) over the FY21 authorization of $251M
PART II : ANNUAL OPERATING BUDGET
Overview
NKU Tuition Rate Increases Resident Undergraduate
NKU Total Cost of Attendance Trends
$17,323
2016-17 2017-18 2018-19 2019-20
*Total cost of attendance is the sum of published tuition and required fees for in-state students, books and supplies, and the weighted average for room and board and other expenses.
NKU Net Price Trends
$9,338 $9,753 $9,412 $9,664
2016-17 2017-18 2018-19 2019-20 *Average net price is generated by subtracting the average amount of federal, state/local government, or institutional grant and scholarship aid from the total cost of attendance.
FY19 Net Price Comparison
Source: FY19 IPEDS average net price of attendance for full-time, first-time, degree/certificate-seeking undergraduate students who paid in-state and awarded aid
NKU MuSt WKU MoST EKU UL UK
$9,412
UNDERGRADUATE Full-Time 12-16 Hours (Semester) Resident, Ohio Reciprocity, Indiana Rate $4,956 $5,006 $50 1.0%
Metro (returning) $7,500 $7,575 $75 1.0% Nonresident $9,936 $10,035 $99 1.0%

$4,956
$5,006
$50
1.0%
$413
$417
$4
1.0%
$448
$452
$4
0.9%
2020-21 Tuition
$ Increase
% Increase
General: Graduate and Doctorate Credit Hour Resident $613 $550 $-63 -10.3%
Ohio/ Indiana $738 $670 $-68 -9.2% Nonresident $943 $845 $-98 -10.4%
COI-M.S Cybersecurity New $460 N/A N/A

$ Increase
% Increase
Business Graduate Credit Hour Accelerated Online Master of Accountancy New $490 N/A N/A Face to Face Master of Accountancy- Resident $565 $510 -$55 -9.7% Face to Face Master of Accountancy- Ohio/Indiana $664 $599 -$65 -9.8% Face to Face Master of Accountancy- Nonresident $921 $832 -$89 -9.7% College of Health & Human Services Credit Hour MS-Health Administration-accelerated online New $520 N/A N/A Master of Social Work (Graduate Metro) $738 $630 $-108 -14.6% Master of Social Work (accelerated online) New $653 N/A N/A Graduate Certificate in Healthcare Commercialization New $550 N/A N/A
RECOMMENDED GRADUATE TUITION RATE CHANGES

New
$490
N/A
N/A
$565
$510
-$55
-9.7%
$664
$599
-$65
-9.8%
$921
$832
-$89
-9.7%
Credit Hour
$738
$630
$-108
-14.6%
New
$653
N/A
N/A
New
$550
N/A
N/A
MLS accelerated online $854 $653 $-201 -23.5%
RECOMMENDED GRADUATE TUITION RATE CHANGES

MLS accelerated online
Approved Proposed Plans Rates 20-21 $ Increase Rates 21-22
Unlimited Plus $100 Flex $2,150 $60 $2,210 225 Block/$200 Flex $1,925 $55 $1,980 8 Meals/$500 Flex $2,175 $65 $2,240 5 Meals/$700 Flex $2,100 $60 $2,160 15 Meals No Frills $1,650 $0 $1,650 Commuter Meal Plan $50 $0 $50
All rate are per semester Overall rate increases for FY22 are approximately 2.8% per the "CPI Food Away From Home" index
Sheet1
Approved
Proposed
Plans
All rate are per semester
Overall rate increases for FY22 are approximately 2.8% per the "CPI Food
Away From Home" index
Staff (part-time, per year) $195 $195
Faculty (part-time, per semester) $37 $37
Reserved parking (per year) $835 $835
Students (full- and part-time, per year) $256 $256
Student (per semester) $150 $150
Summer Students $60 $60
Proposal for Housing Rates
2020-2021 Capacity Proposed 2021-2022
Value Room* $2,375 298 $2,750 Standard Room $2,700 748 $2,750 Premium Room** $3,325 664 $3,350 New Residence Hall Room --- 297 $3,850 Private Room $4,000 8 $4,000
All rates are per semester * Value Rate was eliminated and all Value Rooms are now charged at the Standard Rate ** 20 beds in the Premium Rate (Northern Terrace) were moved to the Standard Rate Note: Excluding the new residence hall, overall average rates would increase approximately 3% Note: A proposed rate lock program (in pilot form) may be implemented for returning students for Fall 2021. This would hold a student's rate at the previous FY21 level for those who agree to return the second year.
Sheet1
2020-2021
Capacity
All rates are per semester
* Value Rate was eliminated and all Value Rooms are now charged at
the Standard Rate
** 20 beds in the Premium Rate (Northern Terrace) were moved to
the Standard Rate
Note: Excluding the new residence hall, overall average rates would
increase approximately 3%
Note: A proposed rate lock program (in pilot form) may be implemented
for returning students for Fall 2021. This would hold a student's rate at
the previous FY21 level for those who agree to return the second year.
ANNUAL OPERATING BUDGET
Overview PART II : ANNUAL OPERATING BUDGET
• FY21 Budget Update • Update on Current Stimulus Funds • FY22 Proposed Budget
FY21 Projection ($'s in millions) $ Incr (Decr)
FY21 BUD FY21 PROJ to FY21 Bud Revenue
Tuition/Fees (Gross) - Resident $70.1 $69.1 -$1.0 Tuition/Fees (Gross) - non Resident 65.4 62.1 -3.3 Accelerated Online (Gross) 29.0 37.4 8.4 Sales/Services 4.5 2.4 -2.1 Auxiliary Revenue 14.1 7.3 -6.8 Other Revenue (e.g., Invest Income, rentals) 11.5 6.2 -5.3 State Appropriation 52.3 51.1 -1.2
Total Revenue 246.9 235.6 -11.3
Expenditures
Personnel 101.4 99.8 -1.6 Benefits 48.1 45.3 -2.8 Estimated AOL AP Share 12.4 17.0 4.6 Operating 38.8 32.3 -6.5 Student Financial Aid 34.9 38.0 3.1 Transfers (e.g., Debt Service) 10.8 11.1 0.3 Reserves 0.5 0.0 -0.5
Total Expenditures 246.9 243.5 -3.4
Surplus (Deficit) -7.9 Estimated Stimulus Funds Used 7.9 Final Surplus (Deficit) 0.0
Scen 1 - flat
($'s in millions)
11.5
6.2
-5.3
Student Grant
Stimulus Award Date Amount received
Institutional Grant
Student Grant Awards
Institutional Grant Awards
UK 41,072,020$ 51,870,387$ 87,773,007$ 139,643,394$ (98,571,374) UofL 28,003,185 20,503,827 61,332,200 81,836,027 (53,832,842) EKU 23,807,804 6,453,857 14,259,830 20,713,687 3,094,117 KSU 14,544,318 7,776,975 4,658,535 12,435,510 2,108,808 MoSU 14,487,080 8,518,892 18,296,569 26,815,461 (12,328,381) MuSU 13,143,064 8,900,214 9,347,482 18,247,696 (5,104,632) NKU 17,029,810 10,145,923 21,910,063 32,055,986 (15,026,176) WKU 24,521,453 11,248,059 11,948,781 23,196,840 1,324,613 KCTCS 101,976,548 62,956,843 62,127,648 125,084,491 (23,107,943) Postsecondary Total 278,585,282 188,374,977 291,654,115 480,029,092 (201,443,810) Research 69,075,205 72,374,214 149,105,207 221,479,421 (152,404,216) Comprehensive 107,533,529 53,043,920 80,421,260 133,465,180 (25,931,651) Two-Year 101,976,548 62,956,843 62,127,648 125,084,491 (23,107,943)
Federal Awards COVID-Related Costs and Foregone Revenue
Note: Federal awards include CARES, CRRSAA, GEER, and CRF
Instructions
COVID-19 Costs and Foregone Revenues by Institution and Source Template
Explanation and Guidance:
- The first 3 tabs correspond to various sources of relief funds recevied by KY's Public Postsecondary Institutions. These sources/tabs are organized according to the forms that institutions use to submit eligible expenses for reimbursement to the managing agency (i.e. OMB/DOE, CPE, OSBD) to ensure the definitions of eligible expenses are consistent with each funding source.
- The last tab - "Not Reimbursed" - displays total funds awarded from all sources and costs and foregone revenues related to COVID-19 in excess of the funds awarded. The "Not Reimbursed" COVID-related costs and foregone revenues are broken into two categories based on the items' eligibility or ineligibility for reimbursement under the definitions used in the sources of funds: (1) eligible but not reimbursed and (2) ineligible and not reimbursed.
- The first 3 tabs should display the various sources of funds awarded and the institutional expenses that have been or are expected to be reimbursed through the sources of funds such that COVID-related costs and foregone revenue do not exceed the total funds awarded.
- The "Not Reimbursed" tab contains suggested categories for eligible/ineligible costs and foregone revenues. Additional lines for categories are provided and more may be added if needed. There are also comment boxes for further notes or clarification.
- CPE anticipates that esitmates will be subject to change as actual numbers become available. This form is also subject to change as additional fund sources become available.
- This template is due to CPE two weeks after the end of every Fiscal Quarter.
CARES & CRRSAA
=Award Amounts
March 2021
=Cost-related
=Revenue-related
CARES:
Fiscal Year 2019-20
$ 26,729,420
$ 20,434,285
$ 16,199,329
$ 10,528,985
$ 11,885,780
$ 10,236,264
$ 13,713,910
$ 16,953,536
$ 91,231,740
$ 217,913,250
=Award Amounts
March 2021
=Cost-related
=Revenue-related
Providing additional emergency financial aid grants to students
ryan.kaffenberger: ryan.kaffenberger: To support any element of the cost of attendance (as defined under Section 472 of the Higher Education Act of 1965, as amended (HEA)) per Section 18004(c) of the CARES Act and the Interim Final Rule published in the Federal Register on June 17, 2020 (85 FR 36494).
45,553
0
52,294
33,089
130,936
Providing reimbursements for tuition, housing, room and board, or other fee refunds
8,508,486
2,716,457
3,718,051
661,209
2,493,982
3,135,384
2,422,576
4,077,376
211,159
27,944,680
Covering the cost of providing additional technology hardware to students, such as laptops or tablets, or covering the added cost of technology fees
404,420
554,907
523,178
1,482,505
Providing or subsidizing the costs of highspeed internet to students or faculty to transition to an online environment.
0
818,896
393,835
1,212,731
Subsidizing offcampus housing costs due to dormitory closures or decisions to limit housing to one student per room; subsidizing housing costs to reduce housing density; paying for hotels or other offcampus housing for students who need to be isolated; paying travel expenses for students who need to leave campus early due to coronavirus infections or campus interruptions.
0
-
Subsidizing food service to reduce density in eating facilities, to provide prepackaged meals, or to add hours to food service operations to accommodate social distancing.
0
269,231
269,231
Costs related to operating additional class sections to enable social distancing, such as those for hiring more instructors and increasing campus hours of operations.
0
3,277,441
3,277,441
ryan.kaffenberger: ryan.kaffenberger: Including costs or expenses related to the disinfecting and cleaning of dorms and other campus facilities, purchases of personal protective equipment (PPE), purchases of cleaning supplies, adding personnel to increase the frequency of cleaning, the reconfiguration of facilities to promote social distancing, etc
490,263
50,491
173,441
222,779
599,361
1,536,335
Purchasing, leasing, or renting additional instructional equipment and supplies (such as laboratory equipment or computers) to reduce the number of students sharing equipment or supplies during a single class period and to provide time for disinfection between uses.
0
60,686
60,686
Purchasing faculty and staff training in online instruction; or paying additional funds to staff who are providing training in addition to their regular job responsibilities
0
961,611
15,484
977,095
Purchasing, leasing, or renting additional equipment or software to enable distance learning, or upgrading campus wifi access or extending open networks to parking lots or public spaces, etc.
0
101,672
156,212
137,542
453,435
848,862
Other Uses of (a)(1) Institutional Portion funds
ryan.kaffenberger: ryan.kaffenberger: Please note that costs for Section 18004(a)(1) Institutional Portion funds may only be used “to cover any costs associated with significant changes to the delivery of instruction due to the coronavirus, so long as such costs do not include payment to contractors for the provision of preenrollment recruitment activities; endowments; or capital outlays associated with facilities related to athletics, sectarian instruction, or religious worship.”
351,490
0
596,326
3,416,826
4,364,642
Other Uses of (a)(2) or (a)(3) funds, if applicable
ryan.kaffenberger: ryan.kaffenberger: Please note that costs for Sections 18004(a)(2) and (a)(3) funds may only be used “to defray expenses, including lost revenue, reimbursement for expenses already incurred, technology costs associated with a transition to distance education, faculty and staff trainings, payroll incurred by institutions of higher education and for grants to students for any component of the student’s cost of attendance (as defined under section 472 of the HEA), including food, housing, course materials, technology, health care, and child care.”
0
135,750
135,750
Subtotal
$ 8,905,529
$ 3,611,140
$ 3,718,051
$ 2,915,404
$ 2,823,635
$ 3,135,384
$ 3,711,351
$ 4,300,155
$ 9,120,244
$ 42,240,894
-
Replacing lost revenue due to reduced enrollment including tuition and fees.
93,000
526,629
1,504,300
2,123,929
Replacing lost revenue from nontuition sources (i.e., cancelled ancillary events; disruption of food service, dorms, childcare or other facilities; cancellation of use of campus venues by other organizations, lost parking revenue, etc.)
ryan.kaffenberger: ryan.kaffenberger: Including continuance of pay (salary and benefits) to workers who would otherwise support the work or activities of ancillary enterprises (e.g., bookstore workers, foodservice workers, venue staff, etc.).
1,849,800
610,868
5,253,381
43,400
7,757,449
Subtotal
$ 8,905,529
$ 5,460,940
$ 3,718,051
$ 3,008,404
$ 3,961,132
$ 3,135,384
$ 3,711,351
$ 9,553,536
$ 10,667,944
$ 52,122,272
=Award Amounts
March 2021
=Cost-related
=Revenue-related
Providing additional emergency financial aid grants to students
119,333
633,745
1,156,825
1,909,903
Providing reimbursements for tuition, housing, room and board, or other fee refunds
35,222
1,583,492
135,551
11,879
1,766,144
Covering the cost of providing additional technology hardware to students, such as laptops or tablets, or covering the added cost of technology fees
28,513
199,125
8,796
1,028,137
1,264,571
Providing or subsidizing the costs of highspeed internet to students or faculty to transition to an online environment.
800
298,485
299,285
Subsidizing offcampus housing costs due to dormitory closures or decisions to limit housing to one student per room; subsidizing housing costs to reduce housing density; paying for hotels or other offcampus housing for students who need to be isolated; paying travel expenses for students who need to leave campus early due to coronavirus infections or campus interruptions.
307
1,132,203
1,132,510
Subsidizing food service to reduce density in eating facilities, to provide prepackaged meals, or to add hours to food service operations to accommodate social distancing.
876,255
876,255
Costs related to operating additional class sections to enable social distancing, such as those for hiring more instructors and increasing campus hours of operations.
0
33,048
2,709,456
2,742,504
1,818,582
193
144,310
345,731
797,762
2,400,000
2,453,250
7,959,828
Purchasing, leasing, or renting additional instructional equipment and supplies (such as laboratory equipment or computers) to reduce the number of students sharing equipment or supplies during a single class period and to provide time for disinfection between uses.
69,315
44,003
6,754,754
6,868,072
Purchasing faculty and staff training in online instruction; or paying additional funds to staff who are providing training in addition to their regular job responsibilities
171,158
451,325
622,483
Purchasing, leasing, or renting additional equipment or software to enable distance learning, or upgrading campus wifi access or extending open networks to parking lots or public spaces, etc.
459,833
151,111
47,996
138,046
3,938,282
4,735,268
Other Uses of (a)(1) Institutional Portion funds
348,469
2,806,797
8,292,422
11,447,688
Other Uses of (a)(2) or (a)(3) funds, if applicable
0
11,417,876
11,417,876
Subtotal
2,088,000
1,500,000
3,588,000
Replacing lost revenue due to reduced enrollment including tuition and fees.
17,823,891
8,400,000
8,852,200
2,129,050
2,655,740
3,548,956
40,121,894
83,531,731
Replacing lost revenue from nontuition sources (i.e., cancelled ancillary events; disruption of food service, dorms, childcare or other facilities; cancellation of use of campus venues by other organizations, lost parking revenue, etc.)
2,645,558
3,278,649
1,849,785
4,616,532
2,754,162
5,054,963
5,000,000
429,211
25,628,860
Subtotal
$ 17,823,891
$ 11,045,558
$ 12,130,849
$ 3,978,835
$ 7,272,272
$ 6,303,118
$ 7,142,963
$ 5,000,000
$ 42,051,105
$ 112,748,591
$ 17,823,891
$ 14,973,345
$ 12,481,278
$ 7,520,581
$ 7,924,648
$ 7,100,880
$ 10,002,559
$ 7,400,000
$ 80,563,796
$ 165,790,978
GEER
=Award Amounts
March 2021
=Related Cost
GEER I
=Award Amounts
March 2021
GEER Funding
=Related Cost
-
-
-
-
-
-
-
=Award Amounts
March 2021
GEER Funding
=Related Cost
212,976
40,638
113,824
398,989
20,402
107,090
92,825
986,744
CRF
=Award Amounts
March 2021
=Related Cost
CRF General Fund Swap - $20 Million Total
6,130,000
2,936,500
1,511,900
586,700
885,900
1,011,200
1,207,500
1,695,400
4,034,900
20,000,000
6,130,000
2,936,500
1,511,900
586,700
885,900
1,011,200
1,207,500
1,695,400
4,034,900
20,000,000
=Award Amounts
March 2021
System Totals
Expenses for communication and enforcement of public health orders related to COVID-19.
406,113
42,130
1,115
122,798
572,156
Expenses for acquisition and distribution of medical and protective supplies, including sanitizing products and personal protective equipment, for medical personnel, police officers, social workers, child protection services, and child welfare officers, direct service providers for older adults and individuals with disabilities in community settings, and other public health or safety workers in connection with the COVID-19 public health emergency.
10,102
30,303
147,361
23,977
60,793
272,536
Expenses for disinfection of public areas and other facilities, e.g., nursing homes, in response to the COVID-19 public health emergency.
730,545
33,127
Expenses for public safety measures undertaken in response to COVID-19, including expenses for quarantining individuals.
2,452,504
3,764
6,249
52,433
2,514,950
438,119
384,096
43,393
1,107,265
187,911
339,859
669,429
3,170,072
Expenses to improve telework capabilities for public employees to enable compliance with COVID-19 public health precautions.
165,953
5,957
171,910
Expenses of providing paid sick and paid family and medical leave to public employees to enable compliance with COVID-19 public health precautions.
56,499
159,392
22,849
40,597
150,189
18,442
447,968
-
-
-
2,072,821
=Award Amounts
March 2021
System Totals
Expenses for communication and enforcement of public health orders related to COVID-19.
17,753
25,600
707,314
750,667
Expenses for acquisition and distribution of medical and protective supplies, including sanitizing products and personal protective equipment, for medical personnel, police officers, social workers, child protection services, and child welfare officers, direct service providers for older adults and individuals with disabilities in community settings, and other public health or safety workers in connection with the COVID-19 public health emergency.
148,166
72,058
54,963
155,156
136,456
566,799
Expenses for disinfection of public areas and other facilities, e.g., nursing homes, in response to the COVID-19 public health emergency.
34,351
25,410
25,168
428,980
513,909
Expenses for public safety measures undertaken in response to COVID-19, including expenses for quarantining individuals.
133,473
1,058,254
168,454
30,147
503,081
1,893,409
315,179
113,999
69,588
1,583,648
985,000
746,653
3,814,067
Expenses to improve telework capabilities for public employees to enable compliance with COVID-19 public health precautions.
253,035
55,564
398,218
706,817
111,772
43,088
44,621
9,456
208,937
-
39,221
162,171
576,339
5,388
783,119
561,230
605,416
Not Reimbursed
=Award Amounts
March 2021
=Eligibile
CARES:
6,130,000
6,130,000
=Award Amounts
March 2021
Impacts In Excess of Funds Awarded From All Relief Sources: CARES, CRRSAA, CRF
=Eligibile
of Kentucky
of Louisville
28,622,259
3,248,000
125,000
5,382,249
423,957
1,956,628
COVID-19 Vaccination Sites (est. through June 30, 2021, see detail)
7,922,321
-
-
159,867
Expenses for public safety measures undertaken in response to COVID
235,973
104,647
Supplies
31,000
205,413
52,246,116
45,500,342
14,605,343
6,700,000
660,670
8,171,000
9,924,343
40,061,356
of Kentucky
of Louisville
-
-
-
-
4,300
4,300
-
17,703,000
2,936,500
2,128,981
586,700
1,807,900
2,033,694
3,071,500
1,695,400
4,036,900
36,000,575
8,923,000
217,081
242,000
827,999
1,700,000
11,910,080
-
$ 98,571,374
$ 53,832,842
$ 2,253,981
$ 586,700
$ 12,328,381
$ 5,104,632
$ 15,026,175
$ 1,795,604
$ 23,107,943
$ 212,607,632
Please provide any additional description of eligible but not reimbursed costs and foregone revenue as needed:
The University of Kentucky currently serves as a Commonwealth Regional Vaccination Site at Kroger Field (and mobile clinic). The University will pursue reimbursement for vaccination expenses through Kentucky Emergency Management's FEMA allocation, however costs are currently incurred without reimbursement. The University included a Facility Restart category to cover expenses for campus safety and operations, emergency leave and other eligible restart expenses. Tuition Forgone Revenue is shown as assessments with reduction using historical bad debt percentage to estimate collections.
Please provide any additional description of ineligible and not reimbursed costs and foregone revenue as needed:
At this time, the University does not have reimbursement opportunities for the forgone revenue due to reduction in state appropriations (associated with the Coronavirus Relief Fund allocations).
The ineligible sports and event revenue is arena revenue that has alcohol sales.
Source: Kentucky Public Postsecondary Institutions, Chief Budget Officer Estimates.
Summary
A - B
Award Amounts
F / G
F
G
H
Institution/Sector
Costs/Foregone Revenues In Excess of Awards plus those Ineligible Items
FY21 Enacted Net GF Appropriations
Excess Costs and Foregone Revenue as a Percent of Enacted Net GF
UK
$ 80,868,374
$ 17,703,000
$ 98,571,374
$ 98,571,374
$ 265,230,800
37.2%
UofL
48,748,342
5,084,500
53,832,842
53,832,842
127,056,800
42.4%
EKU
125,000
2,128,981
2,253,981
2,128,981
65,414,200
3.3%
KSU
Federal Award
1Available awards are accessed as institutions incur eligible, COVID-related costs and foregone revenue and submit them for reimbursement.
2Includes both actuals and estimates of COVID-related costs and foregone revenue that have been or are expected to be reimbursed, eligible costs and foregone revenue in excess of federal awards, and costs and foregone revenue that's been identified as COVID-related but ineligible for reimbursement according to fund guidance.
3Institutions reporting a surplus anticipate accessing these remaining awards in FY 2021-22. These amounts can only be accessed by institutions through the reimbursement of eligible, COVID-related costs and/or foregone revenue.
2021-2022 PROPOSED BUDGET
Budget Principles • Preserve the university’s academic priorities centered on
student success • Invest in our people • Position NKU for both short- and long-term success • Be bold and innovative when prioritizing functions and
activities for investment and disinvestment • Create efficiencies and effectiveness across campus • Take an incentive-based approach to allocating university
resources aligned with our mission
Revenue & Cost Drivers
What drives revenue?
• Personnel
• Operating
0
2,000
4,000
6,000
8,000
10,000
12,000
Fall 2018 Fall 2019 Fall 2020 Undergraduate Graduate Law
Fall 2018 Fall 2019 Fall 2020 1-year trend 2-year trend Undergraduate 9,797 9,538 9,239 -3.1% -5.7% Graduate 1,190 1,772 2,141 20.8% 79.9% Law 474 443 433 -2.3% -8.6% Total FTE 11,461 11,753 11,813 0.5% 3.1%
Fall to Spring Retention and Persistence
87.4% 88.0%
Fall 2018 Fall 2019 Fall 2020
1st Spring Retention (Cohort) Fall to Spring Persistence (all UG degree-seeking)
AY 18-19 AY 19-20 AY 20-21 Degrees and Credentials Awarded 2,899 3,068 3,629*
* AY 20-21 numbers are preliminary
Enrollment Outlook
• Headcount and Full-Time Equivalencies expected to be slightly up over last year • AOL graduate programs are driving the increase with continuing undergraduates
declining • All student segments are back to taking pre-Covid credit hours • Record breaking graduations in FY 2021
• Retention of first-to-second fall will experience declines • We saw historic lows this spring which impacts projection • Greatest impact are with our underrepresented and low-income populations • Persistence of our other cohorts are tracking ahead
• Incoming new Freshmen and Transfer will enroll at lower rates • Delayed decisions and increased competition from research institutions • Four-year transfers continuing to decline with two-year increasing
What We’re Doing to Impact Enrollment Affordability
– CARES II and affordability resource email sent to parents/family in alignment with CARES II email
– UCAP working with student referrals around cost to attend and resources – Micro-grants and micro-scholarships
Mental Health – The Mental Health Advisory Group addressing mental health wellness for
students
Engagement for New Students – Continued touchpoints and on-campus experiences this summer
Pension Update SB 214
• Provides ability to pay KERS early and receive discount for interest paid • Includes provision to receive refund for any overpayment of the estimated liability • Includes statutory authorization for NKU to issue bonds not to exceed $320M required by State Property and
Buildings Commission for their approval
HB 8 • Changed method for allocating contribution requirement from percentage of payroll to actual liability • Budget included nearly $20M to comprehensive universities (except NKU) to offset most of increase in
contributions due to change in methodology • Amendment filed to change the discount rate on cessation calculation from 3.5% to 5.25% • Reduces our estimated liability by approximately $73 million, reducing our annual debt payments by nearly $4
million
HB 8 Original
December Soft Freeze
Total Payments (30 yrs)
Total Debt Service (30 yrs)
N/A N/A $442.2 $452.8 $333.5 ($119.3)
Avg Net Present Value
Cessation Cost N/A N/A $276.7 $276.7 $203.7 ($73.0)
* Due to higher bond interest rates since December.
Impact of HB 8 Discount Rate
Net General Fund Appropriations for Kentucky Publics
2007-08 2009-10 2011-12 2013-14 2015-16 2017-18 2019-20 2020-21 2021-22
$846M
UK $184,662,000 $6,086,400 $190,748,400 UofL 126,211,600 2,972,500 129,184,100 EKU 60,842,300 120,200 60,962,500 KSU 18,235,500 0 18,235,500 MoSU 34,931,500 0 34,931,500 MuSU 40,553,800 0 40,553,800 NKU 50,923,600 2,902,700 53,826,300 WKU 67,619,000 1,398,800 69,017,800
Sector $583,979,300 $13,480,600 $597,459,900
Methodology for Distributing Allocable Funds
Allocable Funds = Total General Fund - Debt Service - Mandated Programs - whatever else you want to exclude
Year 1 Allocation of Allocable Funds
(1) Divide Funds into Outcome Pools
(2) Compare the Two Most Recent 3 Year Averages of Outcome Data
Year 0
(3) Adjust Pools by the Percent Change in Metrics
(4) Allocate Available Funding Based on Share of Ajusted Outcome Pool
Earned
Adjusted
Add back in the exclusions to calculate the Total Request
Features: -Tied directly to student success -Incentives are very clear (increase SCHs and outcomes) -No volatile funding shifts, especially during first year -For added simplicity, use the Degree Production pool for the Outcomes Can easily incorporate: -Stop-loss -Differential weighting for nonresident students -A standard tuition deduction -"Bonuses" for low-income students, underrepresented minority students, adult students, or students in STEM+ H fields.
Research SCH Detail
Avg Research Credit Hours
Council on Postsecondary Education
Distribution of Funding Model Instruction Component
April 15, 2015
Student Credit Hours Earned by Residency Status (Minus High School Student Credit Hours)
Student Credit Hours Earned (by Residency Status)
Average of 11-12, 12-13, and 13-14 Data
Research Sector Universities
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Student Credit Hours Earned (by Residency Status)
Average of 11-12, 12-13, and 13-14 Data
Comprehensive Sector Universities
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Allocable Funds = Total General Fund - Debt Service - Mandated Programs - Operational Support -whatever else you want to exclude
A
L = J + K
M = L - A
N = L/A- 1
(1) Determine Size of Pools
(2) Compare Two Most Recent 3 Year Averages of Data
(3) Adjust Pools Based on Change in Metrics
Year 0
(1) Determine Size of Pools
(2) Compares Two Most Recent 3 Year Averages of Data
Year 1
Features: -Tied directly to student success -Incentives are very clear (increase SCHs and outcomes) -No volatile funding shifts, especially during first year -For added simplicity, use the Degree Production pool for the Outcomes Can easily incorporate: -Stop-loss -Differential weighting for nonresident students -A standard tuition deduction -"Bonuses" for low-income students, underrepresented minority students, adult students, or students in STEM+ H fields. -New funding only
Allocation
Methodology for Distributing Allocable Funds
Allocable Funds = Total General Fund - Debt Service - Mandated Programs - whatever else you want to exclude
0%
A
N = M - A
O = M/A- 1
(1) Determine Outcomes Pools
(2) Compare Two Most Recent 3 Year Averages of Data
(4) Allocate Available Funding Based on Share of Adjusted Total
Year 0
Features: -Tied directly to student success -Incentives are very clear (increase SCHs and outcomes) -No volatile funding shifts, especially during first year -For added simplicity, use the Degree Production pool for the Outcomes Can easily incorporate: -Stop-loss -Differential weighting for nonresident students -A standard tuition deduction -"Bonuses" for low-income students, underrepresented minority students, adult students, or students in STEM+ H fields. -New funding only
KCTCS
Ashland
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Ashland
Certificates and Diplomas
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Ashland
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Outcome Calculation
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(4) Each institution’s share of available funds equals their share of the total outcome calculation
Ashland
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Dollar Change
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Revised NGF
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UK
UL
Total
1,935,769
962,846
2,898,615
(2) Compare the Two Most Recent 3-Year Averages of Outcome Data
UK
UL
(3) Adjust Outcome Pools by the Percent Change in Metrics
UK
UL
Total
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UK
UL
Total
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Bachelor's Degrees
Institution
2017-18
2018-19
2019-20
üDone
UK
4,956
5,105
5,202
UofL
3,041
3,049
3,112
EKU
2,648
2,690
2,634
KSU
222
212
137
MoSU
1,308
1,260
1,139
MuSU
1,678
1,577
1,659
NKU
2,218
2,134
2,222
WKU
3,038
2,984
3,042
Total
19,109
19,011
19,147
Definition
Total number of bachelor's degrees awarded during the academic year (i.e., summer, fall, and spring). Includes degrees conferred to resident, reciprocity, and nonresident students.
Source: Kentucky Postsecondary Education Database System (KPEDS).
UG FTE Students
Undergradate FTE Students (Excludes High School Credit Hours)
Institution
üDone
UK
21,457.33
21,164.69
21,290.95
UofL
12,915.14
12,788.87
12,522.29
EKU
11,272.68
10,847.51
10,275.72
KSU
1,253.08
1,168.07
1,305.38
MoSU
5,940.05
5,834.89
5,529.55
MuSU
6,853.57
6,495.08
6,369.08
NKU
9,817.60
9,369.72
9,034.65
WKU
13,197.26
12,685.87
12,024.34
Total
82,706.71
80,354.70
78,351.96
Definition
Total fall semester undergraduate full-time equivalent (FTE) student enrollment. Calculated by dividing total fall semester undergraduate student credit hours attempted by 15. Includes credit hours attempted by full-time and part-time students, and resident, reciprocity, and nonresident students. Does not include credit hours earned by high school students taking courses for college credit (i.e., dual enrollment and dual credit).
Degrees per 100 FTE
Bachelor's Degrees per 100 Undergraduate FTE Students
(Calculated Field)
Institution
2017-18
2018-19
2019-20
üDone
UK
23.10
24.12
24.43
UofL
23.55
23.84
24.85
EKU
23.49
24.80
25.63
KSU
17.72
18.15
10.50
MoSU
22.02
21.59
20.60
MuSU
24.48
24.28
26.05
NKU
22.59
22.78
24.59
WKU
23.02
23.52
25.30
Total
23.10
23.66
24.44
Calculation
Total bachelor's degrees awarded during the academic year (i.e., summer, fall, and spring) divided by total fall semester undergraduate full-time equivalent (FTE) student enrollment divided by 100.
Degrees per 100 Index
(Calculated Field)
Institution
2017-18
2018-19
2019-20
üDone
UK
1.00
1.02
1.00
UofL
1.02
1.01
1.02
EKU
1.02
1.05
1.05
KSU
0.77
0.77
0.43
MoSU
0.95
0.91
0.84
MuSU
1.06
1.03
1.07
NKU
0.98
0.96
1.01
WKU
1.00
0.99
1.04
Total
1.00
1.00
1.00
Calculation
Divide an institution's bachelor's degrees per 100 undergraduate FTE students ratio by the public university average bachelor's degrees per 100 undergraduate FTE students ratio to produce an index.
Model Metrics
Bachelor's Degrees (Normalized Using Degrees per 100 FTE Index)
(Calculated Field)
Three-Year
Institution
2017-18
2018-19
2019-20
Average
üDone
UK
4,954.4
5,204.6
5,201.1
5,120.0
UofL
3,099.1
3,072.5
3,164.8
3,112.1
EKU
2,692.2
2,819.6
2,762.9
2,758.2
KSU
170.2
162.6
58.8
130.6
MoSU
1,246.6
1,150.0
960.1
1,118.9
MuSU
1,778.2
1,618.4
1,768.3
1,721.6
NKU
2,168.8
2,054.3
2,236.3
2,153.1
WKU
3,026.9
2,966.8
3,149.2
3,047.6
Total
19,136.4
19,048.8
19,301.6
19,162.2
Calculation
Multiply each institution's bachelor's degrees produced by an index of that same institution's bachelor's degrees per 100 undergraduate FTE students ratio divided by the public university average bachelor's degrees per 100 undergraduate FTE students ratio.
STEM+H Degrees
STEM+H Bachelor's Degrees
Three-Year
Institution
2017-18
2018-19
2019-20
Average
üDone
UK
1,908
2,042
2,022
1,990.7
UofL
1,038
1,056
1,095
1,063.0
EKU
900
873
819
864.0
KSU
46
38
24
36.0
MoSU
384
385
336
368.3
MuSU
719
730
616
688.3
NKU
679
694
796
723.0
WKU
880
867
928
891.7
Total
6,554
6,685
6,636
6,625.0
Definition
Total number of bachelor's degrees awarded in science, technology, engineering, math, and health (STEM+H) fields, as defined by CPE, during the academic year (i.e., summer, fall, and spring). Includes degrees listing STEM+H field as first or second major on degree awarded. Includes STEM+H degrees conferred to resident, reciprocity, and nonresident students.
URM Degrees
URM Bachelor's Degrees
Three-Year
Institution
2017-18
2018-19
2019-20
Average
üDone
UK
661
740
777
726.0
UofL
557
553
646
585.3
EKU
271
249
284
268.0
KSU
136
157
105
132.7
MoSU
79
101
73
84.3
MuSU
159
144
183
162.0
NKU
237
256
253
248.7
WKU
347
383
386
372.0
Total
2,447
2,583
2,707
2,579.0
Definition
Total number of bachelor's degrees awarded to underrepresented minority (URM) students during the academic year (i.e., summer, fall, and spring). Underrepresented minority includes Black, American Indian or Alaskan Native, Hispanic or Latino, Native Hawaiian or Other Pacific Islander, and Two or More races. Includes degrees conferred to resident, reciprocity, and nonresident underrepresented minority students.
Low Income Degrees
Low Income Bachelor's Degrees
Three-Year
Institution
2017-18
2018-19
2019-20
Average
üDone
UK
1,457
1,501
1,499
1,485.7
UofL
1,184
1,200
1,232
1,205.3
EKU
1,345
1,327
1,360
1,344.0
KSU
164
158
103
141.7
MoSU
765
708
634
702.3
MuSU
725
680
753
719.3
NKU
1,005
954
947
968.7
WKU
1,358
1,298
1,339
1,331.7
Total
8,003
7,826
7,867
7,898.7
Definition
Total number of bachelor's degrees awarded to low income students during the academic year (i.e., summer, fall, and spring). Low income is defined as Pell recipient at any time since 2005-06 at the graduating institution. Includes degrees conferred to resident, reciprocity, and nonresident low-income students.
Progression Data (@ 30)
Student Progression (@ 30 Credit Hours)
Three-Year
Institution
2017-18
2018-19
2019-20
Average
üDone
UK
3,447
3,639
3,792
3,626.0
UofL
1,969
1,940
1,951
1,953.3
EKU
1,751
1,614
1,527
1,630.7
KSU
172
188
253
204.3
MoSU
945
980
847
924.0
MuSU
984
959
915
952.7
NKU
1,450
1,426
1,404
1,426.7
WKU
2,055
1,982
1,798
1,945.0
Total
12,773
12,728
12,487
12,662.7
Definition
The total number of full-time and part-time undergraduate students reaching or surpassing 30 earned credit hours during the past year as defined by classification (i.e., the number of fall semester freshmen achieving sophomore status by the following fall semester). Includes resident, reciprocity, and nonresident undergraduate students reaching the 30 credit hour threshold.
Three-Year
Institution
2017-18
2018-19
2019-20
Average
üDone
UK
3,930
3,780
4,192
3,967.3
UofL
2,423
2,323
2,359
2,368.3
EKU
1,978
1,851
1,880
1,903.0
KSU
165
179
188
177.3
MoSU
962
966
1,026
984.7
MuSU
1,162
1,069
1,083
1,104.7
NKU
1,579
1,588
1,502
1,556.3
WKU
2,194
2,194
2,104
2,164.0
Total
14,393
13,950
14,334
14,225.7
Definition
The total number of full-time and part-time undergraduate students reaching or surpassing 60 earned credit hours during the past year as defined by classification (i.e., the number of fall semester freshmen and sophomores achieving junior status by the following fall semester). Includes resident, reciprocity, and nonresident undergraduate students reaching the 60 credit hour threshold.
Three-Year
Institution
2017-18
2018-19
2019-20
Average
üDone
UK
4,781
4,629
4,703
4,704.3
UofL
2,838
2,906
2,912
2,885.3
EKU
2,356
2,420
2,329
2,368.3
KSU
213
159
185
185.7
MoSU
1,197
1,191
1,140
1,176.0
MuSU
1,420
1,518
1,396
1,444.7
NKU
1,916
1,912
1,992
1,940.0
WKU
2,727
2,795
2,693
2,738.3
Total
17,448
17,530
17,350
17,442.7
Definition
The total number of full-time and part-time undergraduate students reaching or surpassing 90 earned credit hours during the past year as defined by classification (i.e., the number of fall semester freshmen, sophomores, and juniors achieving senior status by the following fall semester or graduating within the academic year). Includes resident, reciprocity, and nonresident undergraduate students reaching the 90 credit hour threshold or graduating.
Credit Hour Data (Unweighted)
Unweighted Student Credit Hours Earned
Three-Year
Institution
2017-18
2018-19
2019-20
Average
üDone
UK
737,439.0
736,838.0
743,674.0
739,317.0
UofL
480,355.5
473,948.5
471,449.5
475,251.2
EKU
347,262.0
337,238.5
319,817.5
334,772.7
KSU
30,841.0
29,360.5
31,698.0
30,633.2
MoSU
167,534.0
163,612.0
155,726.0
162,290.7
MuSU
202,210.0
194,335.0
192,850.0
196,465.0
NKU
285,437.0
292,095.3
306,525.3
294,685.8
WKU
394,781.0
383,356.5
362,202.0
380,113.2
Total
2,645,859.5
2,610,784.3
2,583,942.3
2,613,528.7
Definition
The total number of credit hours earned during the academic year (i.e., summer, fall, and spring). Includes credit hours earned by full-time and part-time students, undergraduate and graduate students, and resident, reciprocity, and nonresident students. Does not include credit hours earned by high school students taking courses for college credit (i.e., dual enrollment and dual credit).
Credit Hour Data (Weighted)
Weighted Student Credit Hours Earned
(Calculated Field)
Three-Year
Institution
2017-18
2018-19
2019-20
Average
üDone
UK
1,206,206.5
1,221,463.3
1,209,704.6
1,212,458.1
UofL
902,140.0
893,942.5
890,140.3
895,407.6
EKU
506,874.4
495,006.0
466,066.4
489,315.6
KSU
38,193.3
34,098.7
34,499.7
35,597.2
MoSU
234,997.5
229,624.5
218,224.9
227,615.6
MuSU
274,818.0
270,903.8
269,670.5
271,797.4
NKU
396,806.5
432,905.4
486,080.2
438,597.4
WKU
565,904.5
556,427.0
528,241.3
550,190.9
Total
4,125,940.7
4,134,371.2
4,102,627.9
4,120,979.9
Calculation
The total number of credit hours earned during the academic year (i.e., summer, fall, and spring) weighted by residency status, discipline, and course level. Includes credit hours earned by full-time and part-time students, undergraduate and graduate students, and resident, reciprocity, and nonresident students. Credit hours earned by nonresident students are weighted at half the value of credit hours earned by resident and reciprocity students. Does not include credit hours earned by high school students taking courses for college credit (i.e., dual enrollment and dual credit).
Square Feet Data
Square Feet Data
Three-Year
Institution
2017-18
2018-19
2019-20
Average
üDone
UK
6,341,308
6,337,396
6,461,866
6,380,190.0
UofL
3,180,759
3,420,153
3,431,623
3,344,178.3
EKU
2,462,036
2,387,904
2,296,796
2,382,245.3
KSU
673,601
673,771
673,771
673,714.3
MoSU
1,313,638
1,388,180
1,476,020
1,392,612.7
MuSU
2,033,707
2,023,418
1,977,019
2,011,381.3
NKU
1,750,576
1,954,292
1,960,980
1,888,616.0
WKU
2,542,443
2,542,443
2,852,999
2,645,961.7
Total
20,298,068
20,727,557
21,131,074
20,718,899.7
Definition
Category I and Category II Education and General facilities square feet, net of research and non-class laboratory square feet.
Instruction Expenses
Instruction Expenditures
Source: University Audited Financial Statements.
Student Services Expenses
Student Services Expenditures
Direct Cost Data
Direct Cost of Educating Students
(Calculated Field)
üDone
UK
357,052,000
362,490,000
371,714,000
363,752,000
$3,637.52
UofL
312,841,000
314,607,000
303,406,000
310,284,667
3,102.85
EKU
112,885,997
103,754,540
97,251,461
104,630,666
1,046.31
KSU
15,953,240
17,049,421
17,668,887
16,890,516
168.91
MoSU
59,910,449
58,654,912
56,902,474
58,489,278
584.89
MuSU
72,983,242
76,602,471
74,508,431
74,698,048
746.98
NKU
108,376,000
105,578,000
117,923,000
110,625,667
1,106.26
WKU
145,255,952
136,142,567
125,587,894
135,662,138
1,356.62
Total
1,185,257,880
1,174,878,911
1,164,962,147
1,175,032,979
$11,750.33
Calculation
Sum of total expenditures for instruction and student services during the fiscal year.
Total FTE Student Data
Total FTE Student Data
Average
üDone
UK
28,536.16
28,351.76
28,569.69
28,485.87
UofL
18,340.81
18,154.90
17,911.78
18,135.83
EKU
12,681.33
12,231.88
11,595.80
12,169.67
KSU
1,361.91
1,236.98
1,390.71
1,329.87
MoSU
6,404.65
6,263.39
5,905.55
6,191.20
MuSU
7,623.40
7,254.08
7,141.24
7,339.57
NKU
11,071.64
11,033.83
11,250.00
11,118.49
WKU
14,695.89
14,108.04
13,343.92
14,049.28
Total
100,715.79
98,634.86
97,108.69
98,819.78
Definition
Total fall semester full-time equivalent (FTE) student enrollment. Calculated as follows: (undergraduate student credit hours ÷ 15) + (graduate student credit hours ÷ 12) + (law student credit hours ÷ 12) + (headcount of medical, dental, and pharmacy students) + (headcount of doctoral dissertation students) + (headcount of post doctoral students) + (headcount of house staff). Includes credit hours attempted by full-time and part-time students, and resident, reciprocity, and nonresident students. Does not include credit hours earned by high school students taking courses for college credit (i.e., dual enrollment and dual credit).
Model Exclusions
Final Verified Totals
$31,275,300
5,176,200
1,800,000
600,000
500,000
450,200
100,000
Total
$945,200
8,909,700
Total
$13,481,600
558,200
Total
$8,768,600
$3,480,400
4,913,000
Total
$8,393,400
3,270,900
Total
$6,470,900
$4,985,100
3,592,500
Total
$9,327,600
KCTCS-TRAINS
$4,149,800
1,799,700
854,900
Total
$9,674,300
April 12, 2021
Fiscal Year 2021-22
April 12, 2021
Table 1 - Calculated Adjusted Net General Fund by Sector and Institution
Fiscal Year 2021-22
(A - B - C)
April 12, 2021
Fiscal Year 2021-22
67,619,000
(4,451,200)
63,167,800
Total
$583,979,300
($56,098,000)
$527,881,300
These are the same amounts as used in fiscal year 2020-21
Weights Factors
Metric Weighting Chart
1.49386
1.00000
1.45320
1.00000
1.56076
1.00000
1.14208
1.00000
0.90251
1.00000
Bachelor's Degree Share (Normalized Using Degrees per 100 FTE Data)
Bachelor's
Weight
Weighted
Degree
Campus
Degrees
Factors
Degrees
Share
UK
5,120.0
1.67345
8,568.1
34.7%
UofL
3,112.1
1.67345
5,208.0
21.1%
EKU
2,758.2
1.00000
2,758.2
11.2%
KSU
130.6
1.00000
130.6
0.5%
MoSU
1,118.9
1.00000
1,118.9
4.5%
MuSU
1,721.6
1.00000
1,721.6
7.0%
NKU
2,153.1
1.00000
2,153.1
8.7%
WKU
3,047.6
1.00000
3,047.6
12.3%
19,162.2
24,706.2
100.0%
STEM+H Degree Share
URM Degree Share
Low Income Degree Share
Progression
Weight
Weighted
Progression
Campus
Progression
Weight
Weighted
Progression
Campus
Progression
Weight
Weighted
Progression
Campus
Earned Credit Hour Share
Square Feet Share
Direct Cost Share
FTE Student Share
April 12, 2021
Fiscal Year 2021-22
35.0%
35.0%
10.0%
10.0%
10.0%
100.0%
1
Small School Adjustment defined as fixed base amount that remains constant when sector total appropriation increases or stays the same, but may be reduced if there is a budget cut.
2
Student Success component distributed based on each institution's share of weighted student success outcomes produced (i.e., bachelor's degrees; STEM+H, URM, and low-income bachelor's degrees; and student progression at 30, 60, and 90 credit hour thresholds).
3
Course Completion distributed based on each institution's share of weighted student credit hours earned. Weights reflect differences in costs by course level and discipline, as well as, differences in cost structures and mission between sectors. Credit hours earned by out-of-state students are counted at 50% of similar credit hours earned by in-state students.
4
Funding for maintenance and operation (M&O) of facilities distributed based on each institution's share of Category I and Category II square feet, net of research, non-class laboratory, and open laboratory space.
5
Institutional Support component distributed based on each institution's share of sector total instruction and student services spending (i.e., share of direct instructional costs).
6
Academic Support distributed based on each institution’s share of total FTE student enrollment, weighted for differences in cost structures and mission between sectors.
Success Component
April 12, 2021
April 12, 2021
Fiscal Year 2021-22
Fiscal Year 2021-22
(A x B)
D
E
F
G
Weighted
Weighted
Weighted
Weighted
Weighted
Weighted
Weighted
Allocable
Contribution
Contribution
Bachelor's
Percent
Formula
9.0%
5.0%
3.0%
3.0%
3.0%
5.0%
7.0%
35.0%
1 Bachelor's degree figures have been normalized using degrees per 100 full-time equivalent students for each institution indexed to the public university average.
New Money
April 12, 2021
Fiscal Year 2021-22
$2,511,000
April 12, 2021
Fiscal Year 2021-22
35.0%
35.0%
10.0%
10.0%
10.0%
100.0%
1
Small School Adjustment defined as fixed base amount that remains constant when sector total appropriation increases or stays the same, but may be reduced if there is a budget cut.
2
Student Success component distributed based on each institution's share of weighted student success outcomes produced (i.e., bachelor's degrees; STEM+H, URM, and low-income bachelor's degrees; and student progression at 30, 60, and 90 credit hour thresholds).
3
Course Completion distributed based on each institution's share of weighted student credit hours earned. Weights reflect differences in costs by course level and discipline, as well as, differences in cost structures and mission between sectors. Credit hours earned by out-of-state students are counted at 50% of similar credit hours earned by in-state students.
4
Funding for maintenance and operation (M&O) of facilities distributed based on each institution's share of Category I and Category II square feet, net of research, non-class laboratory, and open laboratory space.
5
Institutional Support component distributed based on each institution's share of total instruction and student services spending (i.e., share of direct instructional costs).
6
Academic Support distributed based on each institution’s share of total FTE student enrollment, weighted for differences in cost structures and mission between sectors.
State Appropriation
-$3.1
$53.3 $52.3 $52.2 $55.2
-$5
$5
$15
$25
$35
$45
$55
$65
FY 17-18 FY 18-19 FY 19-20 FY 20-21 FY 21-22 State Appropriation Cuts Equity Funding Performance Funding *Estimated
2018 – 2022
New Stimulus Funds
American Rescue Plan Act (ARPA) • $39.5 billion to higher education • NKU estimated to receive approximately $24 million • At least half of funds have to be used for financial aid grants
to students • Funds can be used up until September 2023 • More guidance to come on use of funds
Expense Outlook
• Personnel • Invest in our people to attract and retain talent
• Benefits • Continued increases in healthcare costs
• Academic Partnership share • 50% share will continue rising with AOL growth
• KERS Contributions & Pension Debt • KERS contribution replaced with pension bond payments that provides certainty and lower cost
Reinvisioned Budget
• Evaluating and streamlining administrative operations and services for effectiveness & efficiencies [BOX 2]
• New growth opportunities – lifelong learners from high school to adults; extended education; new programs/services/ventures [BOX 3]
FY22 Proposed Investments - Recurring Total Proposed $7 million
• Invest in our people through a merit increase and adjustment of pay ranges - $2,000,000
• Establish a Strategic Innovation Investment Fund to provide funding for initiatives tied to Success by Design & new growth opportunities - $2,000,000
• Invest in our high-growth programs through funding for instructional/curricular support - $3,000,000
FY22 Proposed Investments - Nonrecurring
Total Proposed up to $5.5 million
• Invest in asset preservation to ensure the proper maintenance of our buildings and equipment – up to $1,500,000
• Invest in technology including upgrading our classrooms and infrastructure necessary to ensure student success – up to $400,000
• Invest in our brand, fundraising resources, and advertising to attract prospective students – up to $850,000
• Chase scholarship aid – up to $1,750,000
• Performance bonus pool – up to $1,000,000
2021-22 PROPOSED BUDGET ($'s in millions) Incr (Decr)
FY21 Budget FY22 Proposed to FY21 Bud Revenue
Tuition/Fees (Gross) - Resident $70.1 $65.4 -4.7 Tuition/Fees (Gross) - non Resident 65.4 63.8 -1.6 Accelerated Online (Gross) 29.0 44.9 15.9 Sales/Services 4.5 3.6 -0.9 Auxiliary Revenue 14.1 15.0 0.9 Other Revenue (e.g., Invest Income, rentals) 11.5 8.7 -2.8 State Appropriation 52.3 55.2 2.9
Total Revenue $246.9 $256.6 $9.7
Expenditures
Personnel $101.4 $104.9 $3.5 Benefits 48.1 34.1 -14.0 Estimated AOL AP Share 12.4 19.7 7.3 Operating 38.8 38.5 -0.3 Student Financial Aid 34.9 36.0 1.1 Transfers (e.g., Debt Service) 10.8 22.8 12.0 Strategic Innovation Investment Fund 0.0 2.0 2.0 Reserves 0.5 1.0 0.5
Total Expenditures $246.9 $259.0 $12.1
Nonrecurring investments 2.0 5.5 3.5
Total Operating Budget $248.9 $264.5 $15.6 Surplus (Deficit) Expenditures over Revenue (2.4) Estimated Stimulus Funds Used 2.4 Final Surplus (Deficit) 0.0
Scen 1 - flat
($'s in millions)
11.5
8.7
-2.8
(4.1)
11.5
8.7
-2.8
$246.9
$256.6
$9.7
Expenditures
Personnel
$101.4
$104.9
$3.5
added $2M for merit & range adjustment, $2.5M for AOL, less $1M cost reduction
Benefits
48.1
34.1
-14.0
Transfers (e.g., Debt Service)
(2.4)
Major Divison FY19 FY20 % change FY21 % change FY22
Proposed % change Academic Affairs $131.1 $146.5 12% $152.7 4.2% $162.3 6.3% Administration and Finance 63.2 61.7 -2% 57.8 -6.3% 59.8 3.5% Student Affairs 19.6 19.5 -1% 15.0 -23.1% 15.1 0.7% Advancement 6.0 6.4 7% 6.4 0.0% 6.5 1.6% Athletics 10.3 10.6 3% 10.7 0.9% 10.9 1.9% Other (Pres/CSO/CDO/Legal) 3.7 4.1 11% 4.4 7.3% 4.4 0.0%
Total $233.9 $248.8 $247.0 $259.0
Board meeting
Major Function
19.70
20.10
2.0%
20.20
0.5%
Total
$232.90
$247.60
$246.90
Increase in salary & benefits, AOL investments, EDGE Award, steely Investment
Administration and Finance
Total
$233.9
$248.8
$247.0
$259.0
Source
FY19
https://inside.nku.edu/content/dam/budgetoffice/docs/AnnualDocs2018-2019/FINAL%20FY19%20BUDGET%20BOOK.pdf
FY20
236,000,000.00
251,500,000.00
251,000,000.00
$ 19,748,641.00
$ 20,114,767.00
2%
$ 20,170,089
0.3%
Total
$ 233,000,001.00
$ 247,600,000.00
$ 246,964,420
$ (1,529,107.00)
$ (1,132,601.00)
$ (1,548,737.00)
$ 233,000,000
$ 246,467,399
$ 248,475,000
Source
FY19
FY20
$ 60,862,450.00
FY20
difference
$ 1,132,601.00
FY19
difference
1,529,107.00
Sheet1
$ 1,177,676.00
$ 6,395,436.00
$ 14,987,151.00
$ 1,416,072.00
$ 1,208,026.00
$ 152,656,519.00
$ 60,862,450.00
$ 10,750,547.00
$ 569,860.00
$ 250,023,737.00
Budget by Function Trends $’s in millions
Major Function FY19 FY20 % change FY21 % change Instruction $65.60 $74.80 14.0% $79.60 6.4% Research 0.20 0.20 0.0% 0.20 0.0% Public Service 7.00 7.30 4.3% 7.00 -4.1% Libraries 5.70 5.70 0.0% 6.90 21.1% Academic Support 23.10 26.10 13.0% 26.70 2.3% Student Services 22.10 22.70 2.7% 22.30 -1.8% Institutional Support 33.10 30.40 -8.2% 29.70 -2.3% Operations and Maintenance 19.70 20.10 2.0% 20.20 0.5% Student Financial Aid 29.10 36.40 25.1% 34.50 -5.2% Auxiliary Enterprises 17.20 17.10 -0.6% 14.10 -17.5% Other 10.10 6.80 -32.7% 5.70 -16.2%
Total $232.90 $247.60 $246.90
19.70
20.10
2.0%
20.20
0.5%
Total
$232.90
$247.60
$246.90
Increase in salary & benefits, AOL investments, EDGE Award, steely Investment
Administration and Finance
Total
$233.9
$248.8
$247.0
$259.0
Source
FY19
FY20
236,000,000.00
251,500,000.00
251,000,000.00
$ 19,748,641.00
$ 20,114,767.00
2%
$ 20,170,089
0.3%
Total
$ 233,000,001.00
$ 247,600,000.00
$ 246,964,420
$ (1,529,107.00)
$ (1,132,601.00)
$ (1,548,737.00)
$ 233,000,000
$ 246,467,399
$ 248,475,000
Source
FY19
FY20
$ 60,862,450.00
FY20
difference
$ 1,132,601.00
FY19
difference
1,529,107.00
Sheet1
$ 1,177,676.00
$ 6,395,436.00
$ 14,987,151.00
$ 1,416,072.00
$ 1,208,026.00
$ 152,656,519.00
$ 60,862,450.00
$ 10,750,547.00
$ 569,860.00
$ 250,023,737.00
Summary
The FY22 operating budget spending authorization is recommended at $264.5
million, an increase of $13.5M (5.4%) over the FY21 authorization of $251M
PART II : ANNUAL OPERATING BUDGET
QUESTIONS?
Summary
Summary
Overview
Enrollment Outlook
Pension Update
Slide Number 32
Summary

board of regents 2021-2022 tuition & annual operating budget

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