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  • 1. Framework for Multi-year Strategic Financial Planning October 2006
  • 2. Contextual Background
    • External financial review – key recommendations
    • Rapidly changing landscape
    • It’s about more than balancing our budgets
  • 3. UNB Strategic Financial Planning Multi-year Financial Road Map
    • 5-Year Forecasts
    • Operations - Optimistic
    • Capital - Best Estimates
    • Endowments - Pessimistic
    • Sensitivity Analysis
    • Change in Key Variables
    Strategic Priorities - Costing of Priorities Assessment of Options and Choices 5-Year Financial Road Map - Targets Revenue/Funding Options - Groupings and ranges
  • 4. UNBF Enrolment 2001-2005 Projections for 2006-2011 Graduate and Undergraduate (full and part-time) as of October 1, 2006
  • 5. University of New Brunswick Fredericton Campus Operating Budget Forecasts September 18, 2006 (Best Estimate Assumptions) $(000’s)
  • 6. UNB Fredericton Campus Operating Budget 5-Year Ranges 3.43% - 4.47% Optimistic .86% - 2.34% Pessimistic 2.13% - 3.43% Best Estimate Revenue Growth 2.54% - 2.94% 4.14% - 5.23% 3.87% - 3.74% Expenditure Growth
  • 7. University of New Brunswick Fredericton Campus Revenue Composition and 5-Year Forecast Forecasted Growth (5-year Simple Average) 100.0% 6.86% 33.27% 59.87% Current % Distribution 3.14% 3.58% Other 2.96% Tuition Revenue 3.20% Provincial Operating Grant Best Estimate Operating Revenue
  • 8. University of New Brunswick Annual Basic Tuition Fee Increase Changing Landscape
  • 9. University of New Brunswick Fredericton Campus Expenditures Cost Structure Profile and 5-Year Forecast Plus Net Ancillaries Inherent Inflation (5-year Simple Average) 3.72% 100.00% 3.82% 9.70% Maintenance and Utilities 14.36% 19.02% 56.92% Current % Expenditures 3.79% Administration & Development 3.20% Academic & Student Support 3.84% Faculties and Departments Best Estimate Operating Expenditures
  • 10. University of New Brunswick Fredericton Campus Budget Growth Rates Changing Landscape
  • 11. UNB Fredericton Campus Annual Operating Budget Shortfall Best Estimate Assumptions $(millions)
  • 12. UNB Fredericton Campus Infrastructure Renewal Funds $ Available compared to Requirements
  • 13. UNB Fredericton Options/Choices
    • Combination
    • Revenue initiatives
    • Expense initiatives
      • Recalibration to a new lower level
      • Rebalancing cost structures
    • Investments to strengthen
      • Financial Environment
    UNB/Partners/Stakeholders
  • 14. UNB Fredericton Campus
    • 2007-08 Budget Planning
  • 15. University of New Brunswick 2007-08 Budget Key Parameters (for discussion)
    • Operating Budget
    • What will be the overall target – balanced budget or other
    • Basic tuition fee planning is currently in the 4-5% zone, is this appropriate
    • What other sources of revenue are realistic
    • Expenditure reductions/restrictions will be required – to what level and with what impact on operations
    • What level of financial flexibility should be sustained or established
    • To what degree should budgets contain investments in key strategic priorities
  • 16. University of New Brunswick 2007-08 Budget Key Parameters (for discussion)
    • Capital Budget
    • What is the overall expected level of infrastructure renewal funding levels
    • Is the expected level of funding acceptable given standards and requirements, what can be done about this
    • What will be the level of new cash flow from land development, how will these funds be strategically deployed.
    • Are there other capital projects on the horizon that must be considered in the 2007-08 budget, if so, what are the implications.
  • 17. University of New Brunswick 2007-08 Budget Key Parameters (for discussion)
    • Endowments and Restricted Funds
    • What is the expected level of endowment funding available to support operational and capital requirements.
    • We are planning to continue with the current endowment spending rate of 4.5%, is this appropriate.
    • What is the general strategy for campaign proceeds that are undesignated.
    • What level of support from the operating budget will be required to service “Forging Our Futures” commitments.
  • 18. University of New Brunswick Fredericton Campus 2007-08 Budget Planning
    • NEXT STEPS
      • Discussing/answering questions
      • Determining balance
      • Reviewing options
      • Next meeting, October 31, 2006