Proposed Budget and Operating Fund Increases Overview
Explore the FY 2022 proposed budget and detailed breakdown of revenue increases, salary actions, academic program support, infrastructure investments, and critical needs addressed. Stay informed about the financial planning for the upcoming fiscal year.
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Presentation Transcript
FY 2022 Proposed Budget April 4, 2025 1
GENERAL OPERATING FUND REVENUE INCREASES Incremental State Funding: Salary Increase @ 4% Benefit Costs Increase Operating Cost Increase TOTAL INCREASE Tuition / Enrollment: Tuition Increase COD DH Enrollment COM 3-Yr Curriculum COP 3-Yr IMPACT Pathway $8,263,700 899,700 5,169,200 $14,332,600 $0 220,000 240,000 50,000 $510,000 TOTAL Revenue Increase $14,842,600 April 4, 2025 2
PROPOSED BUDGET INCREMENTS SALARY ACTIONS Salary Increase: 3% Market Increase $1,500 minimum 1% Merit Pools (faculty, exempt, non-exempt) Minimum rate to $16/hr Associate retirement cost increase Benefit costs increase $4,800,000 1,600,000 900,000 730,000 899,700 TOTAL Salary Actions $8,929,700 April 4, 2025 3
PROPOSED BUDGET INCREMENTS ACADEMIC PROGRAM SUPPORT COD Dental Hygiene Enrollment Growth COHP Support COM 3-Yr Curriculum COP 3-Yr Impact Program $110,000 400,000 120,000 25,000 TOTAL Academic Program Support $655,000 April 4, 2025 4
PROPOSED BUDGET INCREMENTS INFRASTRUCTURE Reserves Operations of new areas (Crowe and Mooney) Lease costs in Knoxville for Pharmacy and ASP Information Technology Services Library acquisition costs Core Research Labs $2,500,000 470,000 500,000 1,000,000 250,000 500,000 TOTAL Infrastructure Support $5,220,000 April 4, 2025 5
GENERAL OPERATING BUDGET RECAP ADDRESSING CRITICAL NEEDS Non- Recurring Recurring Dealt with new buildings, more to review and support in the future Facilities / Utilities Information Technology Nearly addressed to be reviewed for FY 2023 Review underway between Acad Aff and Finance to develop a long-term plan Simulation Center Annual increases will be necessary to keep pace with inflationary cost increases Library Acquisitions An independent review of animal labs will be undertaken in FY 2022 to develop long-term plan Core Research Labs (LACU) April 4, 2025 6
TOTAL GENERAL OPERATING $300 F&A Recoveries $250 Tuition & Fees $200 $150 $100 State Appropriations $50 $0 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 April 4, 2025 7
TOTAL REVENUE $700 Sales & Svc $600 $500 Sponsored Programs $400 $300 Gifts $200 General Operating $100 $0 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 April 4, 2025 8
