Agenda Item No. _________

Washburn University Board of Regents



SUBJECT: Fiscal Year 2002 Budget





BACKGROUND:





At the January 26, 2001 meeting, the Board approved the budget guidelines to be used by the administration to develop the FY02 operating budget. Since that time, the Board of Regents Budget and Finance Committee has been working with the administration in the development of the FY02 budget. The Committee finalized its work at its meeting on April 26, 2001 in accordance with the guidelines approved by the Board as follows:





Revenue Assumptions:



State operating grant increase, $1,324,274



Sales tax increase based on FY00 actual collections, $1,122,249



3% tuition increase



$110 per credit hour for undergraduate residents or its equivalent



No increase in FY01 enrollment projections (excluding PLAN and Law)



Other miscellaneous revenues of approximately $320,000





Expenditure Guidelines:



Performance-based salary increase pool for both faculty and staff



Market adjustments for selected unclassified staff



Market adjustments for classified staff comparable to elimination of first three tiers of state pay plan



Non-discretionary increases for utilities and health insurance



Support for strategic priorities School of Business, scholarships, student support services, library and Communications (PLAN), and recruitment



Support for other academic units CIS department, Nursing and Music





DESCRIPTION:





The FY02 summary tables of the budget are attached as Exhibit 1. These tables along with the written Annual Plan of Operations detail the changes in the budget from FY01 to FY02.





The proposed Classified Compensation Schedule is attached as Exhibit 2.



This schedule provides the entry rate and maximum for each job classification



The entry rates are adjusted each year to remain competitive with the state and reflects the adjustment to Tier 4 state entry rates











FINANCIAL IMPLICATIONS:





As described above and in the attached budget summary tables, and as detailed in the FY02 Budget Book.





RECOMMENDATION:





President Farley recommends the Board of Regents approve the FY02 operating budget.







______________________________ _______________________________



Date Jerry B. Farley, President




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