Financial Overview of FY25 Budget Town Hall Meeting
Explore the financial aspects of the FY25 budget presented at the Town Hall meeting, covering revenue sources, expense breakdowns, enrollment projections, and more, to help stakeholders understand the financial health of the institution.
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Presentation Transcript
FY25 Budget Town Hall April 17, 2025
ACTUAL FY24 Table 1 Course Credits AY2024 Tuition Residency Total AFTE Delivery Method R N Total Resident Non-Resident Online 23,712,262 1,096,454 24,808,716 3760 74 Face-to-Face 27,035,941 1,496,416 28.532.357 4292 101 Total 50,748,203 2,592,870 53,341,073 8052 175 ESTIMATED FOR FY25 3% ENROLLMENT GROWTH OVER FY24 Table 1 Course Credits AY2025 Tuition Residency Total AFTE Delivery Method R N Total Resident Non-Resident Online 24,777,081 1,262,433 26,039,514 3848 83 Face-to-Face 28,584,654 1,463,970 30,048,624 4445 97 Total 53,361,735 2,726,403 56,088,138 8293 180 Projected FY26 1% ENROLLMENT GROWTH OVER FY25 Table 1 Course Credits AY2026 Tuition Residency Total AFTE Delivery Method R N Total Resident Non-Resident Online 25,644,279 1,306,618 26,950,897 3886 84 Face-to-Face 29,585,117 1,515,209 31,100,326 4490 98 Total 55,229,396 2,821,827 58,051,223 8376 182
Enrollment | AFTE 9500 9163 9009 8959 9000 8558 8473 8283 8500 8227 7950 Projected 25/26 8000 7617 AFTE = 8558 7500 1% Enrollment Increase 7000 6500 6000 5500 5000 2017 2018 2018 2019 2019 2020 2020 2021 2021 2022 2022 2023 2023 2024 2024 2025 (estimate) 2025 2026 (projected)
In Person vs Online Tuition Revenue FY24 Resident and Non-Resident Tuition in $Millions In Person Online Every 1% increase in Enrollment increases Tuition Revenue by $1,963,085 $26.04 M $30.05 M (includes 3.5% tuition increase FY26)
Where Our Money Comes From FY25 Revenue in $ Millions Other, 5.7 Amendment 50, 4.9 Resident Tuition, 52.1 FFE COF, 35.8 Non-Resident Tuition, 3.0
FY25 Expense Budget Breakdown % of Total Expense by NACUBO Category Scholarships, 0.5% Physical Plant, 13.7% Instruction, 47.9% Institutional Support, 15.8% Student Support, 9.8% Academic Support, 12.3%
FY25 Budget Composition % of Total Expense Non-Compensation HWB, 25.2% Compensation, 74.8%
Revenue & Expense Comparison FY25 & FY26* Budgeted Current Year 2024-2025 Estimated Current Year 2024-2025 Projected Fiscal Year 2025-2026 Revenue Summary FY25 Budgeted FY25 Estimated FY26 Projected Student Tuition $55.2 $56.1 58.1 State Support (COF,A50,FFS) $40.8 $40.6 41.2 Other $5.5 $5.4 5.4 Total Revenues $101.5 $102.1 104.7 Expense Summary FY25 Budgeted FY25 Estimated FY26 Projected Total Expenses $94.7 $89.2 100.3 Total Gain (Loss) $6.8 $12.9 6.4 Capital Projects ($6.8) ($3.0) (6.4) Enrollment Contingency - - Net Gain (Loss) ($0.0) $9.90 0 *In $Millions
Expense Comparison FY25 & FY26* Budgeted Current Fiscal Year 2024-2025 Estimated Current Fiscal Year 2024-2025 Projected Fiscal Year 2025 2026 Expense Summary FY25 Budgeted FY25 Estimated FY26 Projected Faculty Compensation $20.4 18.0 $20.7 Faculty Chair Compensation $1.8 1.8 $1.8 Instructor Compensation $15.0 16.3 $15.5 APT Compensation $24.3 20.9 $24.8 Classified Compensation $9.3 9.0 $9.5 Hourly Compensation $2.6 3.0 $2.8 HWB (included above) $ $0. Scholarships $0.5 .7 $0.5 Operating Expense $18.3 16.5 $20.5 New/Revised Faculty and Staff $ $1.6 Colorado Online Expense $2.5 $3.0 $3.0 Total Expenses $94.7 $89.2 $100.3 *In $Millions
Travel, Conference Registration, Official Functions Travel, Conference Registration Official Functions Division FY 24 FY25 Year to Date Division FY24 FY25 Year to Date President 25,534 21,095 President 79,984 23,471 VP Admin/Finance 1,802 6,529 VP Admin/Finance 50,940 29,729 VP Instruction 54,325 39,027 VP Instruction 103,979 112,449 VP Student Services 18,564 11,396 VP Student Services 43,444 58,025 Workforce Development 200 146 Workforce Development 406 637 Human Resources 751 430 Human Resources 9,341 6,422 Student Engagement 6,405 42,041 Student Engagement 18,066 39,124 TOTAL 285,908 266,782 TOTAL 127,832 123,739
Budgeted General Fund Position FTE* by Category FY21 to Present General Fund Employee FTE and Expense (All Employee Types) Type FY21 FY22 FY23 FY24 FY25 191 Annual Faculty FTE 196 218 194 219 Annual APT FTE 194 161 173 195 221 121 Annual Classified FTE 163 138 124 111 553 517 488 500 561 Total Personnel Annual PT Instructor FTE 405 417 350 369 350 *FTE = Full Time Equivalent
Plans for the Future Budget Assumptions for FY26: 1% enrollment growth On-Campus Tuition - Increase by 3.5% Online Tuition - Increased by 3.5% Compensation increase for APT, Faculty up to 2.5% Co Wins Classified Step Increase estimated at 2.5% 31% of all PPSC COF earned is allocated in support of rural colleges 15% increase at the local level for (OCE)operating expense increase Facilities RRR Projects $6.4 million
Reserve Balance History Reserves in $Millions 70 59 60 49.1 50 41.7 40.25 40 31.9 31.1 30 20 10 0 FY20 FY21 FY22 FY23 FY24 FY25 (Estimated)
Facilities Renovation, Remodel & Refurbish Projects (RRR) PPSC Capital Projects resulting from RRR Process Sept/Oct 2024) Project Name Description Comment/Status Est. Budget Prep RFQ for multi-project; concept design will be provided to selected A/E RRC E208/211 Remodel Update and refurbish engineering classrooms A $ 775,500 Remodel rooms N212 & N214 to create a music performance and rehearsal space; add recording studio Replace furniture in student central areas and other locations at CC, RR & DTC DT Renovate Music Rooms Prep RFQ for multi-project A $ 1,600,000 Scope identified by committee with finalized budget 3.21.25 In Design; Some design funds are available from Delta Dental project, but they will need to be supplemented to include MEP work and adjacent science lab Advertise as separate D/B or CM/GC project due to schedule and project budget (This project is much larger than the others on this list.) Furniture Replacement Project Phase I A $ 800,000 Remodel vacated dental space and adjacent science lab (rooms W201, W202, W203 and W215) RRC Health Labs B $ 1,600,000 CC Refurbish and Remodel F Building Refurbish and Remodel F200 and F300 B $ 5,500,000 Update and refurbish PPSC leadership conference rooms at all campuses; assess and remodel leadership suites at CC and RRC Refurbish PPSC Conference Rooms & Leadership Suites Prep RFQ for multi-project C $ 1,200,000 CC Remodel HR Remodel Culinary Faculty Offices & HR Nook (B200) Prep RFQ for multi-project C $ 300,000 CC Renovate The Grove and Adjacent Student Experience Office Assess and Remodel The Grove and Student Experience area Prep RFQ for multi-project C $ 2,100,000 $ 13,875,500 Recent cash funded projects outside of RRR process Pre-engineered metal building with 3 bay on concrete slab with apron and hydrants RFQ in progress for D/B process to hire firm for turnkey delivery of garage Architectural Workshop is A/E; prep AFB for contractors Contracts Signed in Process TBD Fire Training Garage A $ 1,237,500 Parking Lots, Phase 2025 Centennial C Lot and Service Road, Studio West, Two Towers A $ 1,377,750 Wayfinding Facilities Master Plan Replacement of outdated signage and wayfinding Update Facilities Master Plan, last revised 2018 A A $ 1,300,000 $ 300,000 $ 4,215,250 $ 18,090,750 $ 7,390,750 A As soon as possible $ 7,100,000 B When A list no longer requires substantial support FY26 or FY27 $ 3,600,000 $ 18,090,750 C Later - TBD
Approved Staffing Requests New APT Positions Area VP Department Position Title VPI Academic Resources Program Scholar Advisor (Coach) VPI Academic Resources Program Scholar Advisor (Coach) VPI Academic Resources Program Scholar Advisor (Coach) VPI SEM Director of Engineering VPSS DARES Assistant Director of HS Programs New Faculty Positions Area VP Department Program Area BTPS BUS Business BTPS CYB Cybersecurity/CNG BTPS EDU Education HS DEA Dental Hygiene HS DMS Diagnostic Medical Sonography HS NUR Nursing Practical SEM PHY Physics
