Managing Resources for Organizational Success: Finance

FY 2009-10 General Funds Budget 950 Freshmen 05-Feb-11

FY 09 % FY 10 % FY 11 FY 12 FY 13 FY 14 Budget of Total Budget of Total Budget Budget Budget Budget

Revenues Educational & General Tuition & Fees

Undergraduate Academic Year Full-Time 115,407,630 54.11 121,543,321 54.92 130,847,647 139,742,325 146,101,498 154,241,738 Part-Time 426,000 0.20 442,614 0.20 460,319 483,334 507,501 532,876 Study Abroad 7,150,990 3.35 9,127,615 4.12 9,492,720 9,967,356 10,465,723 10,989,010 Summer 836,340 0.39 866,910 0.39 899,486 941,835 986,302 1,032,992 Fees 1,250,000 0.59 1,250,000 0.56 1,250,000 1,250,000 1,250,000 1,250,000 Undergraduate Subtotal 125,070,960 58.64 133,230,460 60.20 142,950,172 152,384,851 159,311,025 168,046,616

Graduate College of Arts & Sciences Graduate 6,752,534 3.17 6,865,302 3.10 7,109,900 7,376,724 7,642,681 7,919,083 Summer 1,145,167 0.54 865,894 0.39 896,744 930,398 963,942 998,803 Fees 360,031 0.17 260,031 0.12 260,031 260,031 260,031 260,031 CAS - Subtotal 8,257,731 3.87 7,991,228 3.61 8,266,675 8,567,153 8,866,654 9,177,917

School of Education Graduate 4,104,392 1.92 4,343,462 1.96 4,460,329 4,580,703 4,704,688 4,832,392 Summer 1,371,302 0.64 1,988,115 0.90 2,041,609 2,096,707 2,153,458 2,211,911 Fees 0 0.00 100,000 0.05 100,000 100,000 100,000 100,000 SOE - Subtotal 5,475,694 2.57 6,431,577 2.91 6,601,938 6,777,410 6,958,146 7,144,304

School of Bus. & Mgmt Graduate 8,319,200 3.90 8,679,202 3.92 9,032,970 9,334,297 9,624,286 9,922,975 Summer 1,759,875 0.83 1,809,505 0.82 1,867,289 1,926,807 1,988,111 2,051,254 Fees 110,000 0.05 110,000 0.05 110,000 110,000 110,000 110,000 SSBM - Subtotal 10,189,075 4.78 10,598,707 4.79 11,010,259 11,371,105 11,722,397 12,084,228

Graduate Subtotal 23,922,500 11.22 25,021,511 11.31 25,878,871 26,715,667 27,547,197 28,406,449

Total - Tuition & Fees 148,993,460 69.85 158,251,971 71.50 168,829,043 179,100,519 186,858,222 196,453,066

Government/Sponsored Programs Federal Programs 470,000 0.22 470,000 0.21 470,000 470,000 470,000 470,000 State Programs 6,847,961 3.21 5,896,862 2.66 5,896,862 5,896,862 5,896,862 5,896,862 Subtotal 7,317,961 3.43 6,366,862 2.88 6,366,862 6,366,862 6,366,862 6,366,862

Gifts 3,378,916 1.58 3,485,500 1.57 3,813,000 4,173,250 4,569,525 5,005,428 Program Specific Endowment Income 2,148,867 1.01 2,154,755 0.97 2,154,755 2,154,755 2,154,755 2,154,755 Services & Related Activities 1,494,456 0.70 1,373,818 0.62 1,373,818 1,373,818 1,373,818 1,373,818 Short-term Investment Income 1,600,000 0.75 1,600,000 0.72 1,600,000 1,600,000 1,600,000 1,600,000 Other Income (Orientation, Parking, etc.) 2,784,990 1.31 2,018,260 0.91 2,018,260 2,018,260 2,018,260 2,018,260 Subtotal 11,407,229 5.35 10,632,333 4.80 10,959,833 11,320,083 11,716,358 12,152,261

Student Aid Federal 3,090,000 1.45 3,385,500 1.53 3,385,500 3,385,500 3,385,500 3,385,500 State 1,284,000 0.60 982,500 0.44 982,500 982,500 982,500 982,500 Endowment Income 6,712,006 3.15 5,665,245 2.56 4,854,245 4,156,245 4,708,245 5,385,245 Gifts, Funded, Loans 1,757,600 0.82 1,779,600 0.80 1,779,600 1,779,600 1,779,600 1,779,600 Subtotal 12,843,606 6.02 11,812,845 5.34 11,001,845 10,303,845 10,855,845 11,532,845

Total Educational & General 180,562,256 84.65 187,064,010 84.52 197,157,583 207,091,308 215,797,286 226,505,033

Auxiliary Enterprises 32,734,623 15.35 34,254,886 15.48 36,023,439 37,584,441 39,557,573 41,645,637

Total Revenues 213,296,879 100.00 221,318,896 100.00 233,181,022 244,675,749 255,354,859 268,150,670

Expenditures Educational & General Instruction & Academic Support Instruction - CAS 35,129,289 16.47 36,391,519 16.44 38,121,669 39,832,454 41,986,148 43,859,734 SOE 4,668,746 2.19 4,635,831 2.09 4,790,514 4,994,622 5,233,746 5,484,612 BM 12,978,337 6.08 13,040,800 5.89 13,450,842 14,096,480 14,757,482 15,450,353 Academic Support 8,081,996 3.79 7,825,173 3.54 8,016,787 8,268,049 8,621,592 8,991,221 Subtotal 60,858,369 28.53 61,893,323 27.97 64,379,812 67,191,605 70,598,968 73,785,920

FY 2009-10 General Funds Budget

FY 09 % FY 10 % FY 11 FY 12 FY 13 FY 14 Budget of Total Budget of Total Budget Budget Budget Budget

Research Programs 544,917 0.26 380,763 0.17 380,763 380,763 392,186 403,951 Public Service 1,449,048 0.68 1,437,626 0.65 1,474,749 1,520,359 1,583,060 1,648,635 Library 3,381,891 1.59 3,381,891 1.53 3,381,891 3,381,891 3,481,620 3,584,340 Student Services 19,116,821 8.96 20,274,318 9.16 21,022,315 21,720,352 22,733,159 23,680,983 General Administration 23,784,762 11.15 24,301,413 10.98 24,942,631 25,826,196 26,967,356 28,162,039 General Institutional 12,701,750 5.95 12,717,447 5.75 13,017,846 13,373,434 13,923,627 14,497,957 Physical Plant 9,588,195 4.50 9,693,247 4.38 9,992,835 10,278,584 10,726,773 11,196,299 Contingency 368,750 0.17 2,113,895 0.96 2,230,471 2,345,418 2,452,209 2,580,167 Subtotal 70,936,134 33.26 74,300,600 33.57 76,443,501 78,826,997 82,259,990 85,754,372

Student Aid Federal 3,090,000 1.45 3,385,500 1.53 3,385,500 3,385,500 3,385,500 3,385,500 State 1,284,000 0.60 982,500 0.44 982,500 982,500 982,500 982,500 Undergraduate 32,686,080 15.32 40,612,000 18.35 44,862,834 48,454,805 48,876,882 51,017,082 Athletic 4,859,600 2.28 5,049,124 2.28 5,251,089 5,513,644 5,789,326 6,078,792 Graduate 670,340 0.31 696,483 0.31 738,272 782,569 829,523 879,294 Endowed, Funded, Loyola Loans 2,547,305 1.19 2,624,506 1.19 2,624,506 2,624,506 2,624,506 2,624,506 Subtotal 45,137,325 21.16 53,350,114 24.11 57,844,702 61,743,523 62,488,237 64,967,674

Transfers - Debt Service 4,866,055 2.28 4,866,055 2.20 5,502,525 5,994,884 5,994,884 5,994,884

Total Educational & General 181,797,883 85.23 194,410,092 87.84 204,170,540 213,757,009 221,342,078 230,502,850

Auxiliary Enterprises Operations 17,288,855 8.11 17,177,434 7.76 17,713,082 18,347,405 19,210,147 20,118,022 Debt Service 4,120,000 1.93 4,120,000 1.86 4,120,000 4,120,000 4,120,000 4,120,000

Other Transfers & Changes To Capital Budget 7,075,000 3.32 7,333,000 3.31 6,700,000 6,700,000 6,700,000 6,700,000 To Plant Funds 2,000,000 0.94 2,000,000 0.90 2,000,000 2,000,000 2,000,000 2,000,000 To Special Projects 1,015,140 0.48 1,200,000 0.54 1,200,000 1,200,000 1,200,000 1,200,000

Total Expenditures 213,296,878 100.00 226,240,526 102.22 235,903,622 246,124,414 254,572,225 264,640,872

Net Change in Fund Balance 0 (4,921,629) (2,722,600) (1,448,665) 782,634 3,509,798 (Available for New Initiatives)

Non-Strategic Plan Expenses Marketing/Web Operations 500,000 500,000 500,000 500,000 Personnel 65,000 65,000 65,000 65,000

Available for Strategic Initiatives (4,921,629) (3,287,600) (2,013,665) 217,634 2,944,798

2008 Strategic Plan Living & Learning Communities 0 0 2,126,145 2,259,786 Enhance & Enrich the Natural Sciences 0 0 0 0 Honors Program 0 550 40,328 161,454 Promote Specific Graduate Programs 0 60,327 170,687 291,833 Augment Graduate Services 75,000 130,000 130,000 130,000 Increase Number of Tenure Track 170,000 126,750 309,338 546,054 Athletic Initiatives 0 0 0 0 Developing York Road 0 315,375 0 0 Enhance Global Studies Program 0 0 35,687 156,832 Athletic Fields 700,000 700,000 700,000 700,000

--------- --------- --------- --------- --------- Total 2008 Strategic Plan 945,000 1,333,002 3,512,185 4,245,959

Surplus/(Deficit) (4,921,629) (4,232,600) (3,346,667) (3,294,551) (1,301,161)

FY 2009-10 General Funds Budget

FY 09 FY 10 % FY 11 FY 12 FY 13 FY 14 Budget Budget Change Budget Budget Budget Budget

Assumptions: Undergraduate Enrollments 3,495 3,579 3,696 3,755 3,740 3,759

(950 freshmen) Room Increase 5.00% 5.00% 5.00% 5.00% 5.00%

Expenditures - Salary Increase - Faculty 0.00% 3.00% 4.00% 5.00% 5.00% Administrators 0.00% 3.00% 4.00% 5.00% 5.00% Non-Exempt 0.00% 3.00% 4.00% 5.00% 5.00%

Operating Expense Increase 0.00% 0.00% 0.00% 3.00% 3.00% Utility Increase 6.00% 6.00% 6.00% 6.00% 6.00%

Differential Tuition

Senior Tuition 34,800 36,510 3.90 37,971 39,869 41,863 43,956 4.00% 5.00% 5.00% 5.00%

Junior Tuition 35,140 36,510 3.90 37,971 39,869 41,863 43,956 4.00% 5.00% 5.00% 5.00%

Sophomore Tuition 35,140 36,510 3.90 37,971 39,869 41,863 43,956 4.00% 5.00% 5.00% 5.00%

Freshmen Tuition 35,140 36,510 3.90 37,971 39,869 41,863 43,956 4.00% 5.00% 5.00% 5.00%

Sensitivity Analysis - 1% yields or costs Undergraduate Tuition 734,214 Faculty Compensation 350,100 CAS Graduate Tuition 95,815 Administrative Compensation 272,518 BM Graduate Tuition 78,192 Non-Exempt Compensation 183,431

Room Increase 248,096 Operating Expenses 416,227 Utilities 52,073

Additions to Budget: Assistant 228,527 Additional Study Abroad 1,324,039 Overtime 313,705 Increase Freshmen Aid to 33.5% 970,150 1,988,808 2,088,248 2,192,661

-------------------- Total 1,866,271

Reductions to Budget: Annual Giving 1,195,758

Cost Savings: Reduce Overtime by 25% 277,359 Reduce Travel & Entertainment 30% 220,422 Finance Capital (one time) 767,000 IAC Operations (one time) 200,000 Residence Hall Maintenance 300,000

-------------------- 1,267,000

Academic Capital (one time) 100,000

Total Cost Savings 1,864,781