Budget/Finance Committee Meeting

January 4, 2006

Regents Present: Maggie Warren, chair, Mayor Bill Bunten, Ben Blair, Bob Storey, Karen Lee

Staff Present: Jerry Farley, Wanda Hill, Denise Ottinger, David Monical, Bill Roach, Chris Leach, Rhonda

Thornburg, Russ Jacobs, Tom Ellis

Minutes of the October 21, 2005 meeting were approved as distributed.

Fall 2005 Enrollment Report -

Mr. Monical discussed the enrollment headcount, noting a 24% overall increase between Fall 1999 and Fall 2005. He pointed out the 53% increase in first-time Freshmen and noted the growth in the number of students who are Kansas residents outside of Shawnee County.

In comparing Fall 2004 and Fall 2005, only Washburn and one of the Kansas Regents schools had increases in on-campus students. All other Regents schools had declines for on-campus students. Washburn, by far, had the largest percentage increase in on-campus enrollment from 1999 to 2005.

Although Washburn had very little overall growth between this year and last year it was pretty much a flat year overall across the state.

2005-2006 Tuition and Fee Report -

Mayor Bunten commented we don't want to get to a point where tuition at Washburn is just not affordable and students start going to less expensive schools.

President Farley noted Washburn has always been viewed as being more expensive because other schools fees were not included in the comparisons. When tuition and fees are compared Washburn is within a few dollars of KU and KSU, our major competition. He noted there is still elasticity in tuition because we are still so much lower than the national average.

2004-2005 Faculty Salary Analysis -

President Farley said six years ago the University set a goal to become more competitive on faculty salaries. Every year salaries are reviewed and compared with the six KBOR institutions, as well as, Master's level institutions on a national basis.

He noted in 1998 Washburn faculty salaries were 11.5% behind the national average. This has now been whittled down to 7.5%. Over the next several years we will have a number of faculty retiring. We have to be competitive in the marketplace to attract top faculty on a national level so we are able to hire the top candidates.

Fiscal Year 2007 Budget Process -

President Farley said each year we try to identify sources of revenue and try to determine what increases are necessary. Discussions with the Regents about all the various components will take place and the FY 07 budget, with all the revenue sources and expenditures, will be brought back to the Regents in May. We hope to bring enough information to the Board and the legislature goes smoothly enough that we can get back to a normal budget cycle. Regent Warren added it is important to get these discussions in progress so it can all come together in May.

Salary allocation has been consistent for the last four years, using a merit based pay distribution. A 3% pool of funds is proposed following the three tier system based on the judgment of the area head. The labor union agreement will need to be negotiated separately.

Regent Lee asked how fairness is assured in the evaluation process. Dr. Jacobs indicated the system works well, there are very few complaints, and there is a perception of overall fairness.

President Farley said the 3% salary pool certainly won't move us ahead of other institutions but will keep us from falling further behind.

Regent Blair said Washburn cannot function the way we want it to function without tuition increases. He said we should not be interested in maintaining status quo but in ways to make Washburn better, including better faculty and better facilities.

Regent Warren asked for budget projections using other salary percentage increase options. President Farley said we will provide conservative preliminary figures for the next Regents meeting.

It was moved and seconded to approve the FY 07 Budget Planning Calendar as distributed. Motion carried.

It was moved and seconded to approve the methodology, but not specific percentages, of the FY 07 Performance Pay Proposal.

Financial Advisory Services -

Vice President Hill said the top two financial advisory firms, Springsted and Columbia Capital, were invited to campus for interviews. After the presentations the committee felt even more strongly in recommending Springsted. They offer a wide range of services and go through a detailed process of comparison with other institutions. Mr. Leach added Springsted's focus appears to be client driven rather than deal driven.

It was moved and seconded to recommend approval of Springsted for providing financial advisory services to the University. Motion carried.

The next meeting will be scheduled after the January 20 Regents meeting.

Meeting was adjourned.

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