University of North Florida
Board of Trustees
Finance and Audit Committee

  • Budget Workshop
May 22, 2014
Osprey Commons, Talon Room at 2:30 p.m.

Minutes

Members Present  

Hugh Greene (Chair), Myron Pincomb, John Delaney, Lanny Russell, Bruce Taylor, Gordon Rakita, Joseph Turner, Joy Korman, Sharon Wamble King, Rad Lovett 

Members Absent    

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 Purchasing Department.

 

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 Honors.

 

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 Career Initiative.

 

This budget sets aside $5.0 million for reserves.

 

Vice President Serwatka outlined some of the initiatives that will be taken this year to increase the performance funding metrics;   

  • First-year Post-graduation Employment and Income  
    • 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 budget.
     
  • Average Cost per Undergraduate Degree  
    • Examine principles of financial accounting.  
    • Examine differential course effort.  
    • More efficient course scheduling.  
     
  • Six-year Graduation and Retention Rates  
    • Hire a Math Emporium Director.  
    • Hire a Coordinator for supplemental instruction.  
    • 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 & Inclusion Awards.  
     
  • Degrees in STEM and other High Need Areas  
    • Hire medical lab sciences director, electrical engineering faculty, public health faculty and nursing faculty.  
    • Begin renovations in Skinner Jones Hall.  
    • Begin marketing and recruitment in STEM fields.  
     
  • Degrees Without Excess Hours  
    • Same initiatives as six-year graduation and retention rates.  
     
  • Growth in Distance Learning Courses  
    • Hire a telepresence specialist and technology support.  
    • Provide support for blended and hybrid technology.       

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 TLOs.    

Adjournment  

 

Chair Greene adjourned the meeting at 4:00 p.m.