FY23 Program Revenue Balances Review Sean P.
Description: FY23 Program Revenue Balances Review Sean P. Nelson, Vice President for Finance and Administration Board of Regents Business and Finance Committee October 5, 2023 FY23 Total Unrestricted Balances Overall, the total Unrestricted Balances are
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slide1. FY23 Program Revenue Balances Review Sean P. Nelson, Vice President for Finance and Administration Board of Regents Business and Finance Committee October 5, 2023<br>
slide2. FY23 Total Unrestricted Balances Overall, the total Unrestricted Balances are down over previous year by $6.4M, or approximately 0.6%
Total FY23 Unrestricted Balances: $1.081 billion
FY13 total in inflation-adjusted dollars: $1.39B
Nearly 87% of Total Unrestricted Balance meets the Legislative Audit Bureau’s definition of obligated, planned or designated for a specific project, initiative, program, or capital commitment<br>
slide3. FY23 Total Unrestricted Balances Summary Tuition balances are down by $51.6M (or 17%)
55% below FY13 GPR/Tuition balances
Balance represents approximately 31 days of operating expenses
Auxiliary balances are down by $8.9M (or 3%)
General Operations balances are up by $19.9M (or 13%)
Federal Indirect Cost Reimbursement balances are up by $35.2M (or 14%)<br>
slide4. Tuition Balances T U I T I O N F R O Z E N Green line represents 12% of budgeted expenditures, the BOR reporting threshold for program revenue balances in Regent Policy Document 21-6 Tuition balances are down $51.6M, or 17% from prior year<br>
slide5. Deficit Spending by Fund Source Deficit Spending & Unbudgeted Salaries $64.4M<br>
slide6. Auxiliary Balances: A Closer Look at Commitments 62% of Auxiliary balances are allocated for new or ongoing capital commitments and debt service<br>
slide7. Key Takeaways Expenses increasing to pre-pandemic levels
Example: Travel declined 84% between FY19 and FY21, but returned to near-FY19 levels in FY23
Inflation adding to campus operating costs and eroding purchasing power of reserves
UW universities anticipate further reductions in FY24 balances
One-time Federal COVID relief funding is now fully drawn down
10 campuses project budgetary shortfalls
$64.4 million identified for planned shortfalls and funding staff positions not funded in the current FY24 operating budget
11 comprehensive campuses comprise 33% of total unrestricted balances<br>
slide8. Questions?<br>
slide2. FY23 Total Unrestricted Balances Overall, the total Unrestricted Balances are down over previous year by $6.4M, or approximately 0.6%
Total FY23 Unrestricted Balances: $1.081 billion
FY13 total in inflation-adjusted dollars: $1.39B
Nearly 87% of Total Unrestricted Balance meets the Legislative Audit Bureau’s definition of obligated, planned or designated for a specific project, initiative, program, or capital commitment<br>
slide3. FY23 Total Unrestricted Balances Summary Tuition balances are down by $51.6M (or 17%)
55% below FY13 GPR/Tuition balances
Balance represents approximately 31 days of operating expenses
Auxiliary balances are down by $8.9M (or 3%)
General Operations balances are up by $19.9M (or 13%)
Federal Indirect Cost Reimbursement balances are up by $35.2M (or 14%)<br>
slide4. Tuition Balances T U I T I O N F R O Z E N Green line represents 12% of budgeted expenditures, the BOR reporting threshold for program revenue balances in Regent Policy Document 21-6 Tuition balances are down $51.6M, or 17% from prior year<br>
slide5. Deficit Spending by Fund Source Deficit Spending & Unbudgeted Salaries $64.4M<br>
slide6. Auxiliary Balances: A Closer Look at Commitments 62% of Auxiliary balances are allocated for new or ongoing capital commitments and debt service<br>
slide7. Key Takeaways Expenses increasing to pre-pandemic levels
Example: Travel declined 84% between FY19 and FY21, but returned to near-FY19 levels in FY23
Inflation adding to campus operating costs and eroding purchasing power of reserves
UW universities anticipate further reductions in FY24 balances
One-time Federal COVID relief funding is now fully drawn down
10 campuses project budgetary shortfalls
$64.4 million identified for planned shortfalls and funding staff positions not funded in the current FY24 operating budget
11 comprehensive campuses comprise 33% of total unrestricted balances<br>
slide8. Questions?<br>