Financial Operations Today in FY12 $2,127,387 $2,502,489 , 32% , 38% NOAA Sea Grant University Sources $1,946,429 Govt/Other Sources , 30%
Budget Authority FY12 YE 6/30/12RESOURCESBeginning Balance $2,626,003FY12 Budget $6,255,469 TOTAL RESOURCES $8,881,472REQUIREMENTS *Represents fundsResearch Projects $ 846,472 set aside for some outside sponsoredProgram Development/Fellowships $ 301,700 multi-year projectsPersonal Services $3,542,390 and the continuationMaterials & Services $1,176,437 of operations and programs in FY13 as TOTAL REQUIREMENTS $5,866,999 the Sea Grant fiscal year cycle runs February through Reserve for Future Requirements $2,930,193* January.
Budgetary Highlights• University-Wide Faculty Salary Increases is the most significant change to the budget compared to prior years. – 4% increase for fully satisfactory performance – 1% increase for equity – An additional merit increase of $2500 each for 5% of the eligible faculty population• Commensurate with a salary increase is a benefits increase
Budgetary Highlights cont. Annual Impact Salary/Fringe Increase $125,365 Salary Adjustment Funding – Research $33,214 Office Salary Adjustment Funding - Extension $14,000 Estimated Services Balance, Borne by grants, contracts and $78,151 Sal/Fringe auxiliary revenue of Sea Grant $35,949 F&A TOTAL Impact for Jan 2012 $114,100In January 2013, we are anticipating another salary increasewith a similar impact of $81,257 to cover with grants, contractsAuxiliary revenue.
In Summary• $300K balance rolling into July 2012• $100K salary impact to cover in 2012-2013• $200K balance rolling into July 2013 (all things constant)• $40K salary impact will then be covered in 2013-2014 $160K available for discretionary use
Take Aways• Funding is stable• $160K identified as discretionary resources to advance Oregon Sea Grant• Monitoring cost share becomes critically important as proportionately more of the personnel costs are borne by grants and contracts