University of North Florida
Board of Trustees
Finance and Audit Committee
May 22, 2014
Osprey Commons, Talon Room at 2:30 p.m.
Hugh Greene (Chair), Myron Pincomb,
John Delaney, Lanny Russell, Bruce Taylor, Gordon Rakita, Joseph Turner, Joy
Korman, Sharon Wamble King, Rad Lovett
Oscar Munoz, Fred Franklin, Lynn
Pappas, Joan Newton
Item 1 Call to Order
Chair Greene called the meeting to
order at 2:35 p.m.
Chair Greene acknowledged the hard work
of President Delaney and Vice President Janet Owen on behalf of the university during
the budget session in Tallahassee. He
asked Vice President Shari Shuman and Vice President Tom Serwatka to present
the proposed 2014-2015 budget.
The recurring budget will be
increased by $9.8 million and it will include $9.5 million of carry forward
funds. It also includes a reserve for an
enrollment shortfall should the FTE fall below 10,300.
Total general revenue and lottery
equals $91 million. This is the highest
increase for these revenues since 2003/04.
The total budget is comprised of 77%
salaries (including benefits and OPS), 4% utilities and 19% operating expenses.
There are several ways the
university keeps costs down. Each
division regularly reviews their operating expenses. The controlled spending committee continues
to review spending. The vacancy pool
committee continues to review requests and in the past year the university has
seen a purchasing savings of $657K due to sourcing and contracting by the
Divisional reallocations have been
made in an effort to keep costs down including eliminating an associate provost
line and creating a new Associate Dean of Undergraduate Studies/Director of
Revenue sources for next year
include an annualization of tuition increases, PO&M dollars for the new
warehouse, performance funding and monies to fund the Culture of Completion and
This budget sets aside $5.0 million
Vice President Serwatka outlined some
of the initiatives that will be taken this year to increase the performance
First-year Post-graduation Employment
Hire an assistant director of
marketing and programming for Career Services.
Convert a COAS career coordinator to
a full-time position.
Increase the marketing and outreach
Average Cost per Undergraduate Degree
Examine principles of financial
Examine differential course effort.
More efficient course scheduling.
Six-year Graduation and Retention Rates
Hire a Math Emporium Director.
Hire a Coordinator for supplemental
Increase advising lines.
Hire a CCEC retention, recruitment
and outreach coordinator.
Add new technology – College
Scheduler and JumpForward.
Pell Grants – Access
Provide need based grants from
tuition differential monies.
Provide President’s Diversity &
Degrees in STEM and other High Need
Hire medical lab sciences director,
electrical engineering faculty, public health faculty and nursing faculty.
Begin renovations in Skinner Jones
Begin marketing and recruitment in
Degrees Without Excess Hours
Same initiatives as six-year graduation
and retention rates.
Growth in Distance Learning Courses
Hire a telepresence specialist and
Provide support for blended and hybrid
Additional priorities for the
university include funding additional dollars for summer school, and operational
support for Academic Affairs and continued dollars for flagship programs and
Chair Greene adjourned the meeting
at 4:00 p.m.