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Geneseo’s 2010 2011 budget situation 10-15-10

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Update on Geneseo’s 2010 2011 budget situation, presented on 10-15-10.

Published in: Economy & Finance, Business
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Geneseo’s 2010 2011 budget situation 10-15-10

  1. 1. Geneseo’s 2010-2011 Budget Situation<br />College Forum<br />October 15, 2010<br />
  2. 2. Budget Gap<br />Cut in Tax Dollar Support $(8,198,000)<br />Tuition Increase Offset 3,466,000<br />Funding Shortfall $(4,732,000)<br />
  3. 3. Structural Deficit (000)<br />Budget Gap $(4,732,000)<br />Transfer of 11 Advancement<br /> FTE to State Funding ( 898,000)<br />Faculty Equity Funding (1,200,000)<br />Adjuncts & Library Materials ( 147,000)<br />TOTAL DEFICIT $(6,977,000)<br />
  4. 4. Year-to-Year ComparisonState Operations Budget<br />2007-2008$41,954,100<br />2008-2009 $41,392,200<br />2009-2010 $43,492,500<br />2010-2011 $41,763,200<br />
  5. 5. State Operations BudgetFrom 2007-8 to 2010-11<br />We saw a decrease of $190,900!!!<br />Our collective bargaining costs increased $6,592,000 over that period.<br />State tax dollar support decreased from 42% of our State purpose budget to 34%.<br />
  6. 6. Our Budget Gap2009-2010<br />
  7. 7. 2009-2010 Gap<br />
  8. 8. 2010-2011 GAP<br />
  9. 9. One-Time Solutions <br />
  10. 10. This is NOT sustainable<br />Cannot rely on over $3 million of one-time cash each year.<br />SUTRA overflow revenues are not assured.<br />Cannot sustain a 6.6% PSR savings factor keeping over 35 positions vacant.<br />NACUBO recommends 20% OTPS, we are currently at 8%.<br />
  11. 11. Retirements<br />36 NYS Early Retirement Incentive (classified staff) $1.7 million<br />7 Geneseo retirement incentive (UUP)<br />3 Geneseo phased retirement (faculty)<br />18 Potential NYS retirements (UUP/Mgt.)<br />$1.6 million<br />
  12. 12. This is NOT sustainable<br />Even if we could leave all retirement positions vacant, we would gain $3.3 million, leaving $3.4 million unmet need.<br />We have done across-the-board cuts and targeted cuts. Continuing across-the-board cuts just further weakens the institution.<br />How do we move forward and preserve excellence?<br />
  13. 13. RESPONSE TO DEFICITOne- Time Actions<br />Vacancy Control (Currently 6.6%)<br />Supplies and Equipment Cuts<br />Fund expenses from reserve funds<br />
  14. 14. Possible Base Actions<br />Maximum use of retirement savings<br />Broad Consultation <br />Strategic Planning Group<br />Budget Advisory Committee<br />College Council<br />Monthly Forums <br />Program Curtailment<br />
  15. 15. Considerations for Curtailment<br />Mission Relatedness<br />Quality<br />Cost<br />Enrollment Trends<br />Interrelatedness with other Programs<br />Sustainability<br />Potential Fund Raising Implications<br />
  16. 16. Where are we now?<br />Continuing to analyze data<br />Continuing consultation process<br />Looking across entire college for sources of significant savings<br />Considering whether it is necessary to curtail one or more programs (incl. degree programs)<br />

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