Agenda Item No. _______________

Washburn University Board of Regents







SUBJECT: Fiscal Year 2000-2001 General Fund Operating Results



EXECUTIVE SUMMARY:



This summary is provided to highlight the final operating results for FY 00-01 compared to FY 99-00 for the General Fund.



SUMMARY OF REVENUES AND EXPENDITURES:



Educational and General revenues (excluding auxiliary operations) for FY 00-01 as presented on Exhibit A, represent a 3.2% increase over FY 99-00. Tuition and fees increased $763,162 due primarily to the increase in tuition and a modest increase in enrollment. Tuition and fees account for 36.4 % of total Educational and General revenues, down from 37.6% in FY 99-00. State Aid and Out District revenues account for 20.3%, down from 19.5% in FY 99-00. Local tax support is 30.6%, virtually unchanged from the 30.8% in FY 99-00.



Net operations for the auxiliary enterprises indicate losses for FY 00-01 greater than those sustained in FY 99-00. The net loss of $(702,842) for the Memorial Union Operations contains a planned transfer of $600,000 from Memorial Union reserves to the Debt Retirement and Construction Fund to fund its share of the Stauffer Commons/Memorial Union Renovation projects. This transfer was anticipated in formulating the FY 00-01 Memorial Union budget. After adjusting for the transfer, the Memorial Union Operations have an operating loss of $(102,842) for FY 00-01 compared to $(69,283) for FY 99-00. This is due primarily to the closing of Carruth (fewer residential students on board plans), the remodel of the Union building taking rooms off-line that had been rented which affected room rental revenues and catering revenues, and costs incurred to enhance operations in anticipation of the opening of Stauffer Commons in the Fall 2001. The Residence Halls also sustained a larger loss for FY 00-01 than for FY 99-00 due to the closing of Carruth and some startup expenses incurred for the Living Learning Center.



REVENUES:



Exhibit B's chart details the FY 00-01 revenues by category (excluding auxiliary operations) along with the percentages of each category to the total.



EXPENDITURES:



Exhibit C's chart details the FY 00-01 expenditures by category (excluding auxiliary operations) along with the percentages of each category to the total.





SUMMARY:



Details of the funds other than the General Fund and additional details pertaining to General Fund operations will be presented to the Board in the Annual Financial Report for Fiscal Year 2001 and the annual Audit Report prepared by Berberich Trahan & Co., P.A. later this fall.



RECOMMENDATION:



President Farley recommends the Board of Regents accept the Fiscal Year 2001 year end report of the activities associated with General Fund Operations.







___________________________ _________________________________

Date Jerry B. Farley, President


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