Report for the
FY 2022-2023
Prepared by
Business & Finance
Budget Presentation SUNY Old Westbury
Faculty Senate Meeting - November 18, 2022
Matters on the Docket
A brief look at what we will discuss on this presentation
Budget Terms
01
04
02
05
03
Revenue Sources
Typical Annual Budget Cycle
Cash Reserves
FY 22-23 Budgets, Allocations and FTEs
Continued…
Matters on the Docket
A brief look at what we will discuss on this presentation
Budgets FYs 21-22 vs. 22-23
06
09
07
08
Student Enrollment
Factors Affecting Financial Situation
Spending Constraints
10
Budget Office Contacts
Budget Terms
PSR
OTPS
TS
Personal Services Regular. This category represents all salaried employees of OW.
Other Than Personnel Services.
This category includes supplies, utilities, travel, contracts, software, equipment, etc.
Temporary Services. This category represents all temporary personnel of OW, including adjuncts, certain consultants, etc.
Recharges
This category includes payments to SUNY for SUNY-provided services to OW, such as servers, programming, etc.
01
DIFR
Dormitory Income Fund Reimbursable. Revenue from the operations of student residence halls.
IFR
Income Fund Reimbursable. Revenue from student fees (e.g., technology, transportation, health, athletics) and other revenue.
Typical Annual Budget Cycle*
02
*Dependent on SUNY
Student Tuition
53.18%
State Support
19.23%
Fees & Rentals
11.41%
Reserves* 8.56%
Residence Halls
7.6%
FY 2022-2023 Revenue Sources
STUDENT TUITION
STATE SUPPORT
RESIDENCE HALLS
FEES & RENTALS
FY 22-23�REVENUE
Sources
RESERVES
03
* Includes 21-22 HEERF III
CASH RESERVES
Current cash reserves are approximately $16M. The College plans on a cash reserve of 15% to 18% of State and IFR expenses each year.
04
PSR
70.1%
OTPS
21.2%
TS
7.2%
Recharges
1.5%
$52,385,670
FY 2022-2023 Financial Plan
05
0%
20%
40%
60%
Academic Affairs - 54.8%
Facilities - 10.5%
Fixed Costs - 9.3%
Student Affairs – 9.1%
ITS - 7.7%
B&F – 5.9%
UPD - 5.1%
Enrollment - 2.8%
Communications - 2.0%
President - 1.9%
Advancement - 1.2%
HR - 1.1%
DEI - 0.2%
All Funds Budget- Allocations by Division
05
10
As of October 1, 2022
Total FTE All Funds = 497.60
Excludes vacancies
ALL FUNDS - FTE BY DIVISION
FY 2022-2023
05
Prior Year Change - OTPS
06
*2021-2022 OTPS denotes total allocation.
Contractual obligations, including salaries, have increased in the last 4 years. Higher expenses due to inflation, particularly utility costs. Our utilities cost has increased $1M this FY.
$2.5 million
Higher expenses
A marked decrease in enrollment, �(18%) in total, since 2019 has resulted in revenue losses. Revenue losses were $2.0M for FY 2021-2022 and are projected to be $1.2M for FY 2022-2023, for a total of $3.2M for the last two years.
$1.2 million
Lower tuition revenue
Factors Affecting our Financial Position
FY 2022-2023
Residence hall lower density ($2.0M). Lower student fees and facilities rentals ($660K).
$2.7 million
Lower fees & rentals revenue
07
Student
Enrollment
FY 2019-2020 to �FY 2022-2023
Enrollment has decreased 17.7% from FY 2019-2020 to FY 2022-2023.
Student enrollment has significantly decreased since FY 2019-2020
08
Student Enrollment Fall 2019 Fall 2020 Fall 2021 Fall 2022
Actual FTE 4,628 -3% 4,544 -10% 3,880 -3% 3,810
Data provided by Institutional Effectiveness
Spending Constraints
Hires are prioritized based on health and safety, essential instruction and research in areas of high-need and high enrollment, critical student facing needs and revenue generation.
Hiring Slowdown
Restrictions on overtime, with some exceptions. Elimination or deferment of non-essential extra service and course releases.
Reduction in energy consumption and costs.
Reduced Expenses
All discretionary spending should be evaluated, if not mission critical. This includes memberships, travel, food/meals, events, and other expenditures that are not critical to the operation of the College.
Reduced Discretionary Expending
09
Questions
Contact us anytime!
CFO
Martha Santana
Budget Office