WASHBURN UNIVERSITY BOARD OF REGENTS
Budget/Finance Committee Meeting
June 16, 2004
Regents Present: Ben Blair, chair, Jim Roth, Maggie Warren, Chuck Engel, Karen Lee
Staff Present: Jerry Farley, Wanda Hill, Tom Ellis, Al Dickes, Denise Ottinger, David Monical, Chris Leach, Rhonda Thornburgh, Donna LaLonde, Melodie Christal
Also Present: Mary Lou Herring
Minutes of the April 28, 2004 meeting were approved as distributed.
Preliminary FY 2005 Budget Development -
State Appropriations -
Appropriations for FY 2005 were reviewed by President Farley. Washburn will receive $10,593,207, which is a 4.5% increase over the FY 2004 appropriation.
Sales Tax Estimates -
Actual sales tax collections through March 2004 and estimated collections for April through June were reviewed. Actual collections have rebounded to the amount projected for this fiscal year, so we should be at or slightly above the $17,303,105 budgeted for the current fiscal year.
Several tables outlining tuition fee comparisons were discussed. Washburn's current and proposed tuition increases were compared with those of the Kansas Regents schools, as well as with national and regional peer institutions.
It was noted while Washburn charges a flat amount per credit hour many schools charge an additional credit hour surcharge, making the overall fees around $20 higher per credit hour.
Washburn's budgeted FY 2004 tuition was compared with the proposed FY 2005 tuition, assuming a $15 per credit hour increase in undergraduate resident tuition and an 11.1% increase in other categories, excluding Law.
President Farley noted tuition makes up about 40% of Washburn's E & G budget, which is a much higher percentage than for the Regents schools.
Strategic Priorities -
Salary Program -
Comparisons were done which compare Washburn faculty salaries with those of the Kansas Regents institutions and of peer institutions nationally and regionally.
Regent Roth requested comparative salary information for Law School faculty.
President Farley noted in FY 1998 Washburn salaries were 10.3% behind the national average and by FY 2004 were only 6.8% behind. This shows we are making progress in closing the gap.
The proposed performance based salary program for FY 2005 will be similar to the two prior years. The same structure is being used for tiers 0, 1, and 2. The proposed salary pool for tier 3 will be at 2.5%.
The performance based pay increases have been well received in the last two years. Faculty and staff expectations have been determined and wage increases have been consistently given.
Enrollment Growth - Changes anticipated due to enrollment growth will include adding more faculty and increasing staff in the areas of Financial Aid, Police/Security, and custodial and maintenance workers. President Farley said later in the year short term and long term enrollment growth and capacity will be discussed in more detail.
Scholarships - Funding for a combination of need based and merit based scholarships.
Other Priorities -
Increases in property and liability insurance
Utility cost increases
Initial funding for Academic Plan
Parking lot improvements and classroom upgrades
Budget Guidelines will be approved at the July board meeting.
Regent Engel said he would like more information on expenditures. President Farley indicated details on proposed sources and uses of funds would be given at the next committee meeting.
The Budget and Finance Committee meeting tentatively scheduled for June 24, 2004 will not be needed. The next meeting will be held Wednesday, July 14, 2004 at 4:00 p.m. in Morgan Hall, Room 204.
Meeting was adjourned.