NCSSM Foundation Unrestricted Budget Request - FY 2024-25
March 14, 2024
Cadence of Annual FBOD Budget Cycle
September: Review
December: Overview
March: Preview
May: Approve
- Spend v Budget
- Key outcomes and impact achieved
- State of NC
- Priorities
- Audit
- Endowment
- % endowment spend proposal
- Chancellor’s Budget Proposal and priorities
- FBOD feedback
- Approve final Budget
- Set key outcomes and impact anticipated
3 year Budget Comparison
FY 2024-25 and FY 2025-26 Unrestricted
Budget Priorities and Funding Plan
FY 2024-25: Additional Funding
Mentorship Program on the Durham campus
Total increase = $427,421
FY 2024-25: Reduction in Funding
Total reduction = $275,500
Total funding increase FY 2024-25 = $151,921 or $71,921*
* The finance committee did not support these two increases for the following reasons: they were deemed non-essential to our mission and were likely to become recurring expenses in future years.
FY 2024-25 and FY 2025-26 Unrestricted
Budget Priorities and Funding Plan
FY 2025-26: Additional Funding
Total increase = $200,000
FY 2025-26: Reduction in Funding
Total reduction = $75,500
Total funding increase FY 2025-26 = $124,500
*Note: 2025-26 projected funding increase does not include any potential legislative
salary increases for employees.
FY 2024-25 and FY 2025-26 Unrestricted
Budget Priorities and Funding Plan
FY 2024-25: Additional Funding Request = $151,921 or $71,921*
FY 2025-26: Additional Funding Request = $124,500**
Total 2 year Funding Increase Request = $276,421 or $196,421*
*This budget amount does not include funding for alumni weekend and reception.
**This budget amount does not include required legislative increases for employees whose salaries are funded by the Foundation.
Requested FY 2024-25 Unrestricted Budget
Recommended FY 2024-25 Unrestricted Budget
Not Including Additions for Alumni Weekend and Alumni Reception
Requested FY 2025-26 Unrestricted Budget
Recommended FY 2025-26 Unrestricted Budget
Not Including Additions for Alumni Weekend and Alumni Reception
FY 2024-25 Budget Request Funding by Source
FY 2024-25 Budget Request Funding by Source
Not Including Alumni Weekend and Alumni Reception
23-24 Temporarily Restricted Budgets and
Total Capital Funding Raised
Unrestricted and Campus Restricted Giving
| Unrestricted - All Operations | 101 - Morganton Restricted | 209 - Durham Restricted | Total |
FY 19-20 | $1,288,562 | $586,150 | $0 | $1,874,712 |
FY 20-21 | $1,672,302 | $820,965 | $66,843 | $2,560,110 |
FY 21-22 | $2,037,232 | $718,538 | $85,418 | $2,841,188 |
FY 22-23 | $1,304,394 | $425,707 | $104,907 | $1,835,008 |
23-24 Morganton Temporarily Restricted Budgets
Thank you for Your Leadership and Service to NCSSM
Clare Kennerly ‘21
Class of 2023 Aerial Class Photo
Environmental History of the Black Mountains
Glassblowing
Fencing with Swords
Electronic Instruments
Comedy Writing
Our Place in Nature: Costa Rica