Finance and Audit Committee Meeting Minutes

Finance and Audit Committee Meeting Minutes
February 19, 2015
Minutes
BOARD OF TRUSTEES
ROUDEBUSH HALL ROOM 212
OXFORD, OHIO 45056
(513) 529-6225 MAIN
(513) 529-3911 FAX
WWW.MIAMIOH.EDU
BOARD OF TRUSTEES
MIAMI UNIVERSITY
Minutes of the Finance and Audit Committee Meeting
February 19, 2015
104 Roudebush Hall
The Finance and Audit Committee of the Miami University Board of Trustees met
on February 19, 2015 in Roudebush Hall, Room 104, on the Oxford campus. The meeting
was called to order at 1:30 p.m. by Committee Chair Mark Ridenour. Also attending
were Committee members John Altman, Jagdish Bhati, David Budig, C. Michael
Gooden, Sharon Mitchell and Stephen Wilson, along with Trustees Donald Crain and
Robert Shroder, National Trustees Terry Hershey and Diane Perlmutter, and Student
Trustees Graham Bowling and Mary Adeline Lewis. Committee member Robert Coletti
was not in attendance.
In addition to the Trustees, David Creamer, Vice President for Finance and
Business Services, and Treasurer; Phyllis Callahan, Provost and Executive Vice
President; Jayne Brownell, Vice President for Student Affairs; Tom Herbert, Vice
President for Advancement; Michael Kabbaz, Vice President for Enrollment
Management and Student Success; and Peter Natale, Vice President for Information
Technology, were in attendance. Also present were; Robin Parker, General Counsel;
Deedie Dowdle, Associate Vice President for Communications and Marketing; David
Ellis, Associate Vice President for Budgeting and Analysis; Bruce Guiot, Chief
Investment Officer; Sarah Persinger, Controller; Cody Powell, Associate Vice President
for Facilities, Planning and Operations; Joe Bazeley, Assistant Vice President for IT, and
Information Security Officer; Troy Travis, Assistant Vice President for IT, Enterprise
Operations; Rebekah Keasling, Assistant Dean, Farmer School of Business; Dr. Rebecca
Luzadis, Chair, Fiscal Priorities and Budget Planning Committee; Barbara Jena, Director
of Internal Audit and Consulting; John Seibert, Director, Planning, Architecture and
Engineering; Randi Thomas, Director of Institutional Relations; Clair Wagner, Director
of University News and Communications; Lindsay Carpenter, Manager, Academic
Affairs Budgets and Operations; and Ted Pickerill, Secretary to the Board of Trustees;
along with several other individuals attending to observe, report or to provide
information.
Executive Session
On a motion duly made, seconded, and unanimously approved by the Committee,
the Finance and Audit Committee adjourned to Executive Session in accordance with the
Ohio Open Meetings Act, Revised Code Section 121.22 to discuss personnel matters promotion of a public employee, and to consult with counsel. Following adjournment of
the Executive Session, the Committee convened into the Public Business Session.
Minutes
Overall Page 1 of 107
Minutes Page 1 of 7
February 19, 2015
Minutes
Public Business Session
Chair Mark Ridenour opened the public session and welcomed everyone to the
meeting.
Approval of the Minutes
On a motion duly made, seconded, and unanimously approved by the Committee,
the Finance and Audit Committee the minutes from the previous meeting were approved.
Report on Facilities, Construction and Real Estate
Capital Projects
Associate Vice President Cody Powell updated the Committee on the status of
capital projects. He stated that the East Quad renovation has allowed work at the North
Chiller Plant and a utility overhaul. The overhaul includes adding adjacent buildings,
such as the Farmer School building, which will help facilitate a reduction in campus
steam production of 10%.
Mr. Powell also discussed the construction of Symmes Dining Hall, relaying that
much of the dining equipment is already on hand and ready for installation, which should
allow a quicker move in once construction is complete. He also added that the project is
currently running ahead of schedule.
He reported the Legacy Project at Hayden Park is progressing well, despite the
weather. The foundation and floor have been poured, with steel construction scheduled
to begin the week of 23 February, 2015.
At the site of the former Talawanda High School, the weather did impact the
project’s timing resulting in a delay in the paving of the lot. However, the delay did lead
to the identification of the need for repairs in the sub base, which can now be addressed
before the paving is completed. He also stated the location’s field house has been
retained and will be used for recreational activities.
The Shideler Hall renovation is a Construction Manager at Risk project, which is
awarded for a negotiated price. For the contractor, the bids they received for the
construction work came in high. The contractor and Miami worked together in a very
short period of time to identify the cause of the overrun and to address it, keeping the
project within the guaranteed maximum price. Mr. Powell stated this situation was
addressed and solved in weeks, rather than months as previously required under the prior
construction methods.
At the Indoor Sports Center, occupancy began on February 6, with ICA beginning
use immediately. This was also a Construction Manager at Risk project, with a very
Minutes
Overall Page 2 of 107
Minutes Page 2 of 7
February 19, 2015
Minutes
compressed nine month schedule. Final interior work is still being completed, but it is
estimated that the facility will be available shortly for general recreational use by students
Mr. Powell’s report and presentation are included as Attachment A.
Resolutions
Presented for the Committee’s consideration was a resolution to allow a utility
easement for the construction of the Evan’s Scholars’ facility at the corner of Bishop
Street and Church Street. Trustee Wilson moved, Trustee Bhati seconded and by
unanimous voice vote, the Committee recommended approval of the resolution by the
full Board of Trustees.
The resolution is included as Attachment B.
Year to Date Operating Results
Dr. Creamer updated the Committee on year to date operating results. While
much of the report was good news, with a surplus forecasted for the Oxford Campus, on
the Regional campuses, there is a downward trend in enrollment; there has been growth
in the number of upper level students, but this growth has been more than offset by the
reduction in lower level enrollment.
Trustees asked if this reduction in Regional enrollment is across the board or in
specific areas; that information is being evaluated, as is retention of lower level students.
With the downward trend in enrollment, there is also a corresponding downward
trend in the financial positon of the Regionals. The Committee Chair relayed that the
Committee is quite interested in seeing the Regionals financially stable, requesting Dr.
Creamer, Provost Callahan and Dean of the Regional Campuses Pratt to work together to
address plans for the long-term financial success of the Regionals.
Dr. Creamer’s report is included as Attachment C.
Budget Plan for Fiscal Year 2016
Dr. Creamer highlighted the targeted Fall 2015 first-time, first-year student
enrollment. While the Oxford campus target is slightly lower than in the past, this
reduction is more than offset through a planned increase in American Culture and English
(ACE) students, transfer students, and The Oxford Pathway (TOP) relocating students.
Dr. Creamer also stated that it appears the non-resident portion of the Fall 2015
students will reach 44%, which exceeds the targeted goal.
While enrollment looks promising, there is uncertainty regarding tuition, as
Ohio’s public institutions are awaiting final parameters from the State Legislature. There
Minutes
Overall Page 3 of 107
Minutes Page 3 of 7
February 19, 2015
Minutes
seems to be a clear indication that State leaders are committed to reducing the cost of
higher education, but the means to achieve that reduction are not yet set. Many of the
Ohio Public University Presidents believe the method to achieve the greatest overall cost
reduction is by reducing the time to graduate.
Dr. Creamer relayed that an annual salary increase is planned, likely for 2 to 3%.
That health care is seeing a trend of reduced increases, with the increase for FY2016,
likely being less than 2%.
Dr. Creamer answered several questions from Trustees, regarding the budget
planning:
Progress in generating new revenue, which is exceeding goals, and which has
contributed to the surplus.
When we can anticipate the State budget being approved, which will likely occur
in mid-June.
Accounting for possible State mandated cost reductions, which is being
incorporated by developing a budget model to consider 2.5% less in tuition revenue.
Dr. Creamer’s report is included as Attachment D.
Quasi-Endowment Policy
Dr. Creamer and Associate Vice President Bruce Guiot updated the Committee on
the Quasi-Endowment. Dependence on tuition is a concern, as is the trend toward
reduced State support. And while the endowment portion is much less than tuition, it is
an area of alternate support which should be increased. The Quasi-Endowment is a
means to both grow the size of Miami’s endowed funds and to also take greater
advantage of investment opportunities to meet long-term goals.
It was then explained that growing the endowment would help address a Moody’s
rating concern regarding lack of diversity in Miami’s sources of revenue (which are 77%
tuition).
The policy will attempt to articulate a process regarding unrestricted funds and
how to capture surpluses to grow.
Dr. Creamer and Mr. Guiot answered several questions from Trustees, regarding:
Is a $100,000 minimum amount too small, this amount is larger than the $25,000
required for new endowed accounts, and provides an affordable initial starting point to
help promote use by Academic Divisions.
Minutes
Overall Page 4 of 107
Minutes Page 4 of 7
February 19, 2015
Minutes
What will be the policy for withdrawing funds, the purpose of the QuasiEndowment will be for long term projects and planning, and short term investing will be
discouraged. It was also noted the investment in the Quasi-Endowment would be
voluntary, not mandated.
Where the funds are invested, which is with the rest of the endowment.
After addressing the Trustees’ questions, the consensus of the Committee was to
proceed. After any necessary minor adjustments, it is anticipated the policy will be
presented to the Committee at a future meeting, for a vote.
Information regarding the Quasi-Endowment report is included as Attachment E.
Guaranteed Tuition
The Committee continued the discussion of guaranteed tuition. It was the
consensus that any such plan should be clearly defined, should cover tuition and all major
fees, and should be easily understandable for families.
Aspects of any guaranteed tuition plan would need to address the definition of a
cohort, at what point transfer students enter, what happens it a student medically
withdrawals and returns, etc.
Also discussed was the feasibility of implementation, with regard to approval by
the State Legislature. And the impact of any tuition cap or freeze on the need to raise
tuition for the first year of a plan’s implementation.
Dr. Creamer answered several questions from Trustees, regarding:
Other schools in Ohio with such a plan, which include Dayton, a private school,
which applied an 11% tuition increase the first year of implementation, and Ohio
University, which plans to implement level tuition in Fall 2015, with a 5.1% tuition
increase to implement.
The perception by students and families, which is mixed. It is positive in that it
provides certainty regarding costs, but it can come with a higher initial annual cost.
Student Body President Cole Tyman relayed that the concept has been presented to
Student Senate, using a model that sets a 5 to 6% tuition increase for the first year of
implementation, and still it overwhelmingly passed. The increase was well known before
the vote, and the Student Senate’s resolution of support has actually passed in each of last
two years. He also relayed that the plan’s inclusion of room and board, and major fees,
was well received.
Can this be done for Fall 2015, while possible, the tuition estimates provided to
the families of Fall entrants have not included the necessary tuition increase the first year
of implementation requires.
Minutes
Overall Page 5 of 107
Minutes Page 5 of 7
February 19, 2015
Minutes
Information regarding Guaranteed Tuition is included as Attachment F.
Forward Agenda
There were no comments regarding the forward agenda, which is included as
Attachment G.
Other Business
A brief internal audit update relayed that no new items have risen to a level of
concern.
Regarding housing demand, Dr. Creamer stated that the number of projected beds
will likely be insufficient to meet projected need. This is due not to a change in the
current on-campus housing requirements, but to a growth in the number of students, due
primarily to an expanded ACE program, anticipated transfer student growth and
relocations through TOP. This increase in housing demand prompts the need to explore
construction of an additional residence hall. The timing of construction is important in
order to meet the upcoming period of low supply caused by continued renovations. Also,
there are cost concerns which will impact the dollars available for future renovations; and
further, the site for any new facility would also be a matter for consideration.
Dr. Creamer then provided an overview of the trend in higher education spending
from state to state, with Ohio showing the greatest progress in reducing costs over the
past ten years.
The meeting concluded with an update on the Miami Promise Scholarship
campaign, which is doing well, with nearly $16 million raised to date, and is on track to
meet its five year $100 million goal.
Materials associated with higher education costs are included as Attachment H.
Additional Reports
The following written reports were provided for the Committee’s information and
review:
University Advancement Update, Attachment I
Enrollment Report, Attachment J
Lean Project Update, Attachment K
Internal Audit High Risk Reporting Update L
Minutes
Overall Page 6 of 107
Minutes Page 6 of 7
February 19, 2015
Minutes
Adjournment
With no other business coming before the Committee, the meeting adjourned the
meeting at 4:15 p.m.
Theodore O. Pickerill II
Secretary to the Board of Trustees
Minutes
Overall Page 7 of 107
Minutes Page 7 of 7
Attachment A
Capital Projects
Cody Powell
February 19, 2015
Cole Service Building
Oxford, Ohio 45056-3609
(513) 529-7000
(513) 529-1732 Fax
www.pfd.muohio.edu
Status of Capital Projects Executive Summary
February 19, 2015
1. Projects completed:
Three major projects were completed since the last report. Roof repairs and replacements occurred at Hughes
Hall, the North Chiller Plant, and Demske Culinary Support Center. The controls upgrade project impacting
our Wartsila Peaking Engines has improved the reliability of the campus’ electrical generation capabilities.
All major projects were completed on budget. Combined, the project revenues represent over $3,000,000.
Nearly $550,000, or 18% of project revenues will be returned upon completion of all projects. In addition,
five projects under $500,000 were completed since the last report.
2. Projects added:
Three major projects were added during this reporting period. The Bishop Woods Landscape Restoration will
have a lasting positive impact on the safety and aesthetic of this prominent area of our campus. The
Engineering Quad Simultaneous Heating and Cooling Conversion leverages new infrastructure installed to
serve the East Quad. The project removes steam from a critical area of campus – an important step in the
commitment to operate without coal by 2025. Electrical improvements at Gardner Harvey Library at the
Middletown Campus allows for improvements in student technology offerings and life safety equipment.
Twenty-two projects under $500,000 were added.
3.
Projects in progress:
The East Quad Renovation remains on-schedule in addressing five residence halls (Symmes, Dorsey,
McBride, Collins, and Dennison) and the structure formerly known Erickson Dining Hall. The new dining
concept’s addition has made great headway with the completion of the brick veneer and installation of
windows. Inside all the buildings, student rooms are taking shape and being completed from the third floor to
the lower level. Visible progress is now occurring on the addition to Hayden Park. With foundation walls
now in place, steel will soon be erected. The Shideler Hall Renovation project is now underway. Foundation
walls for the significant new addition give us a sense of what is to come at this important campus gateway.
The Indoor Sports Center has now been completed, permitting use by our intercollegiate athletic teams.
Respectfully submitted,
Cody J. Powell, PE
Associate Vice President –
Facilities Planning & Operations
Attachment A
Overall Page 8 of 107
Attachment Page 1 of 25
Attachment A
Capital Projects
Cody Powell
February 19, 2015
Intentionally blank
Attachment A
Overall Page 9 of 107
Attachment Page 2 of 25
Attachment A
Capital Projects
Cody Powell
February 19, 2015
Business Session
Item 2b
TABLE OF CONTENTS
Page Number
PROJECT SYNOPSIS ________________________________________________________________ 3
UNDER CONSTRUCTION ____________________________________________________________ 5
Requiring Board of Trustees Approval:
East Quad Renovation ___________________________________________________________ 5
Hayden Park Addition – Baseball Support Facility _____________________________________ 6
Maplestreet Station – New Dining & Residence Hall ___________________________________ 8
Shideler Hall Renovation _________________________________________________________ 8
Yager – Indoor Sports Center ______________________________________________________ 10
Projects Between $500,000 and $2,500,000:
Center for Performing Arts HVAC/DDC Upgrades_____________________________________ 11
(Old) Talawanda High School Demolition and Site Work________________________________ 11
IN DESIGN _________________________________________________________________________ 13
Athlete Performance Center _______________________________________________________ 13
Bishop Woods Landscape Restoration _______________________________________________ 13
Central Campus Electrical Modifications – Phase II ____________________________________ 13
Culinary Support Center Rehabilitation ______________________________________________ 14
Engineering Quad Simultaneous Heating and Cooling Conversion_________________________ 14
HDRBS MEP Improvements Summer 2015 __________________________________________ 14
North Quad Renovation __________________________________________________________ 15
Peabody Hall Renovations ________________________________________________________ 15
Shriver Center Renovations – Phase 1 _______________________________________________ 16
IN PLANNING ______________________________________________________________________ 17
Armstrong Student Center, Phase 2 _________________________________________________ 17
Hamilton Campus – Knightsbridge Building Renovation ________________________________ 17
Middletown Campus – Gardner Harvey Library Renovation _____________________________ 18
Roof Replacement / Repairs 2015 __________________________________________________ 18
COMPLETED PROJECTS ____________________________________________________________ 19
Hughes Hall Roof Replacement and Penthouse Repairs _________________________________ 19
North Chiller Plant and Demske Culinary Support Center Roof Replacements _______________ 19
Wartsila Peaking Engines Controls Upgrade ____________________________________20
SUMMARY OF PROJECTS LESS THAN $500,000 _______________________________________ 21
GLOSSARY OF TERMS ______________________________________________________________ 23
Attachment A
Overall Page 10 of 107
Attachment Page 3 of 25
Attachment A
Capital Projects
Cody Powell
February 19, 2015
Intentionally blank
Attachment A
Overall Page 11 of 107
Attachment Page 4 of 25
Capital Projects
Cody Powell
Attachment A
February 19, 2015
Summary of Active Projects
Number of Projects
Under Construction
In Design
In Planning
Projects Under $500,000
Value
7
9
4
88
$163,005,000
$116,237,000
$22,760,000
$15,908,134
Total
$317,910,134
New Projects Over $500,000
Bishop Woods Landscape Restoration
Engineering Quad Simultaneous Heating & Cooling
Conversion
Middletown Campus – Gardner Harvey Library
Renovation
Page 13, Item 2
Page 14, Item 5
Page 18, Item 3
Projects Completed Since Last Report
Hughes Hall Roof Replacement and Penthouse Repairs
North Chiller Plant and Demske Culinary Support
Center Roof Replacements
Wartsila Peaking Engines Controls Upgrade
Total
Attachment A
Overall Page 12 of 107
$807, 200
$735,600
$1,500,000
$3,042,800
Attachment Page 5 of 25
Attachment A
Capital Projects
Cody Powell
February 19, 2015
Intentionally blank
Attachment A
Overall Page 13 of 107
Attachment Page 6 of 25
Capital Projects
Cody Powell
Attachment A
February 19, 2015
UNDER CONSTRUCTION
(Under Contract)
Projects Requiring Board of Trustees Approval
1. East Quad Renovation: (BOT Feb ’14)
Bell
This project will renovate Collins, Dennison, Dorsey, McBride and Symmes Residence Halls. Erickson Dining Hall
will be converted into residence hall space as a continuation of Dennison Hall, and a new dining hall will be
constructed as an addition to Symmes Hall. The project also includes renovating a portion of the North Chiller Plant
at Billings Hall, and the conversion of the Marcum Conference Center and Wilson Hall from steam to hot water. In
addition, the work will include related site utilities and infrastructure, landscaping and site improvements for the
identified buildings. These renovations will be comprehensive upgrades of all buildings systems, addition of fire
suppression, accessibility improvements, energy efficiency improvements, and new finishes throughout. Additional
beds beyond what was expected in the Long Range Housing Master Plan have been designed into the project.
The residence halls are beginning to have finishes installed. The upper floors are receiving bathroom tile, bedrooms
have first coat of paint, doors are being hung and fan coil units are hooked up. Lower floors are receiving drywall
and electrical and plumbing fixture locations are being roughed in. The bulk of roof repairs are complete and
windows have been installed, minus specific locations for material access. Main mechanical systems are being
assembled, pumps are in place and electrical gear is in place. Permanent heat is expected to be online in half the
buildings by mid-February. The dining hall is dried in, with windows, air barrier and ice & water shield in place.
Roof tile and masonry veneer continue through the winter. Interior framing is substantially complete and built in
kitchen equipment is being installed.
Attachment A
Overall Page 14 of 107
Attachment Page 7 of 25
Attachment A
Capital Projects
Cody Powell
February 19, 2015
East Quad Renovation (continued):
Delivery Method: Design / Build
Project Cost
Design and Administration
Cost of Work
Contingency
Owner Costs
Total
$6,978,627
$73,126,996
$7,295,517
$5,928,860
$93,330,000
Funding Source
Bond Series 2012
UEA CR&R
$92,404,000
$926,000
Total
$93,330,000
Contingency Balance: 77%
Construction Complete: 63%
Project Completion: July 2015
2. Hayden Park Addition – Baseball Support Facility: (BOT Feb ’14)
Morris
This project will construct an addition to Hayden Park along the third baseline of McKie Field. The facility will
include offices for the coaches, instructional and training spaces for players, locker rooms, an equipment room, an
umpire room, and support spaces. This project will relocate some services currently in Withrow Court to the Hayden
Park facility.
The addition’s foundations, retaining walls, underground utilities, and slab on-grade are expected to be complete by
the end of February. Steel joists and structural steel deliveries will begin in March.
Attachment A
Overall Page 15 of 107
Attachment Page 8 of 25
Capital Projects
Cody Powell
Attachment A
February 19, 2015
Hayden Park Addition – Baseball Support Facility (continued):
Delivery Method: Construction Manager at Risk
Project Cost
Design and Administration
Cost of Work
Contingency
Owner Costs
Total
$266,000
$3,025,000
$236,000
$148,000
$3,675,000*
Funding Source
Gifts
Student Facilities CR&R
$3,125,000
$550,000
Total
$3,675,000
*Reflects the new total project cost approved by the board
in December 2014
Contingency Balance: 70%
Construction Complete: 20%
Project Completion: August 2015
Attachment A
Overall Page 16 of 107
Attachment Page 9 of 25
Capital Projects
Cody Powell
Attachment A
February 19, 2015
3. Maplestreet Station – New Dining & Residence Hall:
McCarthy
This 500-seat dining facility has replaced Hamilton and Scott Dining Halls with a more efficient facility, meeting the
dining needs of the residents in the Morris-Emerson-Tappan-Etheridge quad. Hamilton and Scott have been taken
off-line for swing space during subsequent housing renovation projects as part of the Long Range Housing Master
Plan. Maplestreet Station features seven restaurants with unique menus, design themes, and interior and exterior café
seating.
The project has been completed. Final project close-out will follow resolution of open claims.
Delivery Method: Multiple Prime Contractors
Project Cost
Design and Administration
Construction
Contingency
Total
$2,521,519
$20,714,877
$763,605
$24,000,000
Funding Source
Bond Series 2010
$24,000,000
Total
$24,000,000
Contingency Balance: $0
Construction Complete: 100%
Project Completion: August 2013
4. Shideler Hall Renovation: (BOT Feb ’14)
McCarthy
The complete renovation of Shideler Hall for Geology and Geography will include hazardous material abatement,
replacement of HVAC, plumbing, electric, technology and fire suppression systems with state-of-the-art energy
efficient systems; reconfiguration of classrooms, laboratories, department and staff offices is planned, including a
highly interactive GIS studio. Upgraded finishes will include casework, flooring, lighting, ceilings, etc. The work
will improve circulation, egress and ADA accessibility. Exterior upgrades including brick tuck pointing, roofing and
window replacements will occur.
The GMP was signed in early November. The CMR received bids exceeding their Guaranteed Maximum Price
(GMP) with the University. The GMP protects the University from increased cost of work. However, the CMR used a
significant portion of the construction schedule float time to resolve the bid issues. The CMR is still obligated to
achieve the project’s milestone dates as identified in the GMP.
Attachment A
Overall Page 17 of 107
Attachment Page 10 of 25
Capital Projects
Cody Powell
Attachment A
February 19, 2015
Shideler Hall Renovation (continued):
Delivery Method: Construction Manager at Risk
Project Cost
Design and Administration
Cost of Work
Contingency
Owner Costs
Total
Contingency Balance: 90%
Construction Complete: 28%
Project Completion: January 2016
Attachment A
Funding Source
$2,336,371
$20,039,255
$1,417,394
$1,207,070
$25,000,000
State
Local*
$21,000,000
$4,000,000
Total
$25,000,000
*$2,000,000 from FY 2014 operating budget
$2,000,000 from Arts and Science carry forward
Overall Page 18 of 107
Attachment Page 11 of 25
Attachment A
Capital Projects
Cody Powell
February 19, 2015
5. Yager - Indoor Sports Center: (BOT Dec ’13)
Morris
This project will construct a new 91,000 square foot, permanent facility for indoor practices just north of Yager
Stadium. The facility will contain a full size football field with end zones and side space with sprint lanes and jump
pits. In addition, there will be mechanical and storage support spaces. The facility will be a combination of a
prefabricated and traditional structure. The design of the facility takes into account a planned future addition to the
north stands at Yager Stadium.
The project is substantially complete and being used for varsity sports practices. Nets are being hung in the evening
to permit daytime use. This will be the last report.
Delivery Method: Construction Manager at Risk
Project Cost
Design and Administration
Cost of Work
Contingency
Owner Costs
Total
$1,100,000
$11,950,000
$625,000
$325,000
$14,000,000*
Funding Source
Gifts
Student Facilities CR&R
$12,400,000
$1,600,000
Total
$14,000,000
*Reflects the new total project cost as approved by
the board in April 2014
Contingency Balance: 10%
Construction Complete: 98%
Project Completion: January 2015
Attachment A
Overall Page 19 of 107
Attachment Page 12 of 25
Capital Projects
Cody Powell
Attachment A
February 19, 2015
UNDER CONSTRUCTION
(Under Contract)
Projects Between $500,000 and $2,500,000
1. Center for Performing Arts HVAC/DDC Upgrades:
Archibald
This project addresses deferred maintenance in the Center for Performing Arts (CPA) HVAC system and aims to
improve energy efficiency throughout the building. The existing dual duct VAV boxes will be replaced with more
energy-efficient ultra-low leakage boxes with DDC controls. Vacancy sensors will be added to classrooms and
basement areas that are currently not properly ventilated will be corrected. New variable frequency drives will be
installed on the existing hot water pumps.
The contractor is working on the punchlist. This will be the last report.
Delivery Method: Single Prime Contractor
Project Cost
Design and Administration
Cost of Work
Contingency
Owner Costs
Total
$57,400
$490,000
$50,600
$2,000
$600,000
Funding Source
University Building CR&R
$600,000
Total
$600,000
Contingency Balance: 20%
Construction Complete: 95%
Project Completion: March 2015
2. (Old) Talawanda High School Demolition and Site Work:
Archibald/Cirrito
This project will deconstruct the existing Talawanda High School at 101 E. Chestnut Street, along with the classroom
trailers and grandstands. After demolition, the site will be cleared and a new parking lot will be installed. The
existing sports fields and facilities will remain with utilities rerouted to maintain service to the remaining structures.
The intention was to pave the new lot in December 2014. However, the installation of the concrete curbing was
identified as defective. The contractor is responsible for correcting the issues. Asphalt will be installed once the
defective work is corrected and the base course dries out.
Attachment A
Overall Page 20 of 107
Attachment Page 13 of 25
Capital Projects
Cody Powell
Attachment A
February 19, 2015
(Old) Talawanda High School Demolition and Site Work (continued):
Delivery Method: Single Prime Contractor
Project Cost
Design and Administration
Cost of Work
Contingency
Owner Costs
Total
$98,500
$1,900,000
$401,000
$500
$2,400,000
Funding Source
Local - FY 2013 Surplus
Parking CR&R
$1,850,000
$550,000
Total
$2,400,000
Contingency Balance: 30%
Construction Complete: 90%
Project Completion: July 2015
(Revised since last report November 2014)
Attachment A
Overall Page 21 of 107
Attachment Page 14 of 25
Attachment A
Capital Projects
Cody Powell
February 19, 2015
IN DESIGN
(Pre-Contract)
1. Athlete Performance Center:
Morris
This project will add a new facility to include varsity football locker rooms, training and rehabilitation facilities, a
football-specific weight room, hydrotherapy, offices for coaches, and break out rooms. The facility will connect
Yager Stadium North Stands to the new Indoor Sports Center practice facility.
Schematic design, budget and program verification are complete and preliminary design development is in progress.
Delivery Method: Construction Manager at Risk
Estimated Budget: TBD
Estimated Start: June 2015
Estimated Completion: September 2016
Funding Source
Gifts
TBD
Total
TBD
2. Bishop Woods Landscape Restoration: (New Project This Report)
Cirrito
This project will improve safety, pedestrian circulation and recreate the mature high canopy, diverse forest ecosystem
that was once present on the site. The work includes removal of invasive species, thinning of saplings, and
reintroduction of appropriate woody and herbaceous species. The improvements will allow for views through the site
with a continuously changing floral display from spring to fall framed by reintroduced native ferns. A central sodded
lawn will also be created to allow for informal gatherings within the confines of the woods. Circulation
improvements will include the realignment of paved pathways to better serve student migration through the area by
linking destinations and adjacent sidewalks. Safety improvements will include the placement of walkway lighting
using “dark sky friendly” pole-mounted LED lighting fixtures to illuminate walkways.
The project is in the design development phase. The project will be out to bid at the end of March. An early bid
package will allow for tree removals over Spring break.
Delivery Method: Design/Build
Estimated Budget: $1,000,000
Estimated Start: May 2015
Estimated Completion: October 2015
Funding Source
University Buildings CR&R
Total
$1,000,000
$1,000,000
3. Central Campus Electrical Modifications – Phase II:
Patterson
This project provides upgraded 12.5 kV electrical feeds to Roudebush, Kreger, Laws and Upham Halls. Laws and
Upham will require new unit substation installations to allow for the new distribution upgrade to 12.5 kV. The project
is a part of a long-term plan to upgrade the high voltage electrical distribution system on campus.
A design professional is on board to provide bid documents for the pre-purchase of unit substation equipment.
Construction bid documents will be ready by April 2015.
Delivery Method: Single Prime Contractor
Estimated Budget: $800,000
Estimated Start: May 2015
Estimated Completion: August 2015
Attachment A
Funding Source
UEA CR&R
University Building CR&R
Total
Overall Page 22 of 107
$100,000
$700,000
$800,000
Attachment Page 15 of 25
Attachment A
Capital Projects
Cody Powell
February 19, 2015
4. Culinary Support Center Rehabilitation: (Previous Report – In Planning)
Russell
This project will renovate and reduce the MUCCU to drive-through service only and prepare that section of the
Demske Culinary Support Center for the relocation of the Burkhouse Staff Development Center from Boyd Hall.
The design development phase is complete. Construction documents are nearing completion. The project is expected
to bid in March, with an anticipated April construction start date.
Proposed Delivery Method:
Single Prime Contractor
Proposed Budget: $937,000
Desired Start: April 2015
Desired Completion: October 2015
Funding Source
University Building CR&R
HDRBS CR&R
Total
$825,000
$112,000
$937,000
5. Engineering Quad Simultaneous Heating and Cooling Conversion: (New Project This Report)
Bell
This project removes steam piping and installs hydronic piping to buildings in the Engineering Quad (Benton, School
of Engineering and Applied Science, Pearson, and Psychology) to support simultaneous heating and cooling. The
project is part of the utility master plan. The project connects to the new hydronic piping already in place from the
North Chiller Plant to East Quad.
All exterior underground piping to be run to each facility has been ordered. Final details on design for each
building’s mechanical room retrofit are under review for bidding.
Proposed Delivery Method:
CM at Risk (part of the East Quad utility work)
Proposed Budget: $1,550,000
Desired Start: March 2015
Desired Completion: June 2015
Funding Source
UEA CR&R
University Building CR&R
Total
$950,000
$600,000
$1,550,000
6. HDRBS MEP Improvements Summer 2015: (Previous Report – In Planning)
Archibald
This project involves mechanical, electrical, and plumbing improvements in ten residence halls, four dining halls, two
recreational facilities, and one guest facility. The desired upgrades include: 1) addressing several overheat and
ventilation issues in mechanical spaces; 2) replacing existing water softeners with Watts OneFlow style decalcifiers;
3) energy efficiency improvements to heating systems; 4) adding redundancy to critical mechanical systems; and 5)
control system upgrades.
A/E is working on design development package.
Delivery method: Single Prime Contractor
Estimated Budget: $1,250,000
Estimated Start: May 2015
Estimated Completion: September 2015
Attachment A
Funding Source
HDRBS CR&R
$1,250,000
Total
Overall Page 23 of 107
$1,250,000
Attachment Page 16 of 25
Capital Projects
Cody Powell
Attachment A
February 19, 2015
7. North Quad Renovation: (BOT Sep ’13)
Christian
This project will renovate Brandon, Flower, Hahne, and Hepburn Residence Halls as well as Martin Dining Hall and
a portion of the North Chiller Plant at Billings Hall. In addition, the work will include related site utilities and
infrastructure, landscaping and site improvements for the identified buildings. These renovations will be
comprehensive upgrades of all buildings systems, addition of fire suppression, accessibility improvements, energy
efficiency improvements, and new finishes throughout. This project will use the Design/Build project delivery
method.
The program of requirements was modified to consider cost-effective ways to meet growing housing demand,
integration of needs supporting our Utility Master Plan, and address existing deferred maintenance issues with tunnel
tops. As a result, it is recommended to add approximately 100 beds to Hahne Hall in the form of an addition. The
program was also modified to include sizing the underground hot water piping to allow Yager Stadium and the
Student Athlete Development Center to be switched to more energy efficient hot water heating in the future. In
addition, replacement of the existing tunnel top adjacent to the project site makes sense to include within this scope of
work. This project would have been submitted for approval and completed as a separate project; however, it is more
cost effective and efficient to perform this work under a common DB. The utility piping and tunnel top replacement
projects come with additional funding sources depicted in the table below. These changes resulted in an increase to
the Estimated Budget.
Construction documents are in progress. The GMP will be negotiated based on the 75% stage. The GMP estimate
and review process will occur during February, with the facilitated GMP session to occur the first week in March.
Early packages supporting the addition to Hahne Hall are out to bid. Work will commence in March.
Delivery Method: Design / Build
Estimated Budget: $98,300,000
Estimated Start: March 2015
Estimated Completion: August 2016
Funding Source
Bond Series 2012
Bond Series 2014
University Building CR&R
UEA CR&R
Total
$5,000,000
$90,600,000
$1,300,000
$1,400,000
$98,300,000
8. Peabody Hall Renovations: (BOT Feb ’14)
Rein
This project will replace the HVAC units in the resident rooms and the commons areas, as well as five classrooms
and the ground floor offices. The replacement units will be selected to support integration into the Western Campus
geothermal loop. The building chillers and the associated equipment are beyond their life and are currently being
replaced with more efficient technology. The student rooms will be painted and include controls improvements for
both lighting and HVAC infrastructure.
The project went out to bid in late January. The majority of the work is incorporated into this bid package to occur
during the summer of 2015.
Delivery Method: Single Prime Contractor
Estimated Budget: $1,900,000
Estimated Start: May 2015
Estimated Completion: August 2015
Attachment A
Funding Source
Bond Series 2012
University Buildings CR&R
Total
Overall Page 24 of 107
$1,200,000
$700,000
$1,900,000
Attachment Page 17 of 25
Capital Projects
Cody Powell
Attachment A
February 19, 2015
9. Shriver Center Renovations – Phase 1:
Christian
As a result of many functions relocating to the new Armstrong Student Center, this project will initiate renovations of
the Shriver Center. The first stage of design services will be to complete a comprehensive Program of Requirements
and to perform Schematic Design for the entire building. The first construction phase will be confirmed during
design, and is currently expected to consist of construction of vacated spaces on the third floor plus necessary
mechanical, electrical, accessibility and elevator upgrades to support future phases. The Office of Disability
Resources and the Rinella Learning Center, both of which will relocate from the Campus Avenue Building (CAB),
will occupy the third floor. A new Welcome Center is being planned on the first floor. The Welcome Center is
expected to support prospective students and their families, alumnus, and other University partners in a state-of-theart space.
The retail consulting study has been completed and recommendations are being incorporated into the programming of
the space. The consultant and Architect of Record are currently assessing cost impact to the project based on the
proposed scope of the changes. Design of the 3rd floor and refinements to the program for Enrollment Management
and the Welcome Center both continue.
Delivery Method:
Construction Manager at Risk
Estimated Budget: $10,500,000
Estimated Start: TBD
Estimated Completion: TBD
Attachment A
Funding Source
Local
Shriver CR&R
HDRBS CR&R
UEA CR&R
$8,000,000*
$1,600,000
$800,000
$100,000
Total
$10,500,000
*$3,000,000 from FY 2013 operating surplus, approved at
the September 2013 Finance and Audit Committee
meeting. $5,000,000 to be taken from FY 2014 operating
surplus assuming project is approved.
Overall Page 25 of 107
Attachment Page 18 of 25
Attachment A
Capital Projects
Cody Powell
February 19, 2015
IN PLANNING
(Pre-A&E)
1. Armstrong Student Center, Phase 2: (BOT Apr ’13)
Russell
This project will complete the Armstrong Student Center via adaptive reuse of Culler Hall. The project will renovate
the interior of Culler Hall in a similar manner to the adaptive reuse of Gaskill and Rowan Halls. The project will also
address needed rehabilitation to the core and shell of the Culler Hall building. The Phase 2 renovation of Culler Hall
will be joined to the completed Phase 1 by a connected link, creating a unified Amstrong Student Center. The
renovation, addition, and connection will be executed in such a way that the Student Center will be perceived as one
building comprised of distinct but complementary spaces.
Culler is now occupied by the Department of Geology and the Department of Geography for the duration of the
Shideler Hall renovation project. The project committee reconvened in October 2014 to verify the schematic
program. Input has been received from the various user groups including student organizations and incorporated into
the design. Design development work is in progress. A Construction Manager at Risk (CMR) has been selected to
assist in estimating and constructability.
Proposed Delivery Method:
Construction Manager at Risk
Proposed Budget: $21,500,000
Desired Start: August 2016
Desired Completion: December 2017
Funding Source
TBD
$21,500,000*
Total
$21,500,000
*$10,000,000 to be funded from the redirecting of a
portion of the Rec Center Student Fee. The balance is to
be from gifts.
2. Hamilton Campus – Knightsbridge Building Renovation:
This project will provide for the renovation of the recently acquired 23,500 square feet Richard Allen Academy
building located on the Hamilton Campus at the intersection of Knightsbridge Drive and University Boulevard in
Hamilton. A facility assessment to be used in developing program and renovation cost has been completed. The
assessment has identified the need for mechanical/electrical upgrades as part of the renovation, reporting
approximately $4,000,000 in probable cost. A recent professionally-prepared campus space plan is contributing to
the programmed scope of this project.
Planning is underway to align the campus space requirements, academic priorities, and existing facilities
condition/needs.
Proposed Budget: TBD
Desired Start: TBD
Desired Completion: TBD
Attachment A
Funding Source
Hamilton Campus CR&R
Total
Overall Page 26 of 107
TBD
TBD
Attachment Page 19 of 25
Capital Projects
Cody Powell
Attachment A
February 19, 2015
3. Middletown Campus – Gardner Harvey Library Renovation: (New Project This Report)
Patterson
This project will add partitions on the first floor to allow for new study rooms and provide additional electrical panels
and receptacles to support electronic devices presently in use, as well as provide for future expansion. Interactive
white boards will be installed in several areas in the library. An emergency generator will be provided for life safety
electrical loads in the building.
Proposed Budget: Multiple Prime Contractors
Proposed Budget: $500,000
Desired Start: May 2015
Desired Completion: August 2015
Funding Source
State
$500,000
Total
$500,000
4. Roof Replacement/Repairs 2015:
Moss
This project will include replacement and repairs to roofs on Bachelor Hall, Laws Halls, and the South Chiller Plant.
An A/E has been selected for this project. Program verification and design has begun.
Proposed Delivery Method: TBD
Proposed Budget: $760,000
Desired Start: May 2015
Desired Completion: August 2015
Attachment A
Funding Source
University Building CR&R
UEA CR&R
Total
Overall Page 27 of 107
$560,000
$200,000
$760,000
Attachment Page 20 of 25
Capital Projects
Cody Powell
Attachment A
February 19, 2015
COMPLETED PROJECTS
1. Hughes Hall Roof Replacement and Penthouse Repairs:
Gebhart
This project replaced the flat roofs on Hughes Hall. The project also addressed mechanical penthouse
parapet wall remediation and various repairs to railings and architectural elements around the cupola. All
areas were beyond their serviceable life and needed to be replaced.
Delivery Method: Single Prime Contractor
Project Revenue
Design and Administration
Cost of Work
Contingency
Owner Costs
Total
$59,768
$670,300
$67,000
$10,132
$807,200
Project Expense
Design and Administration
Cost of Work
Contingency
Owner Costs
Total
$59,768
$627,850
$38,860
$7,080
$733,558
Est. Contingency Balance Returned: $28,140
Est. Contingency Balance Returned Percent of Total: 42%
Est. Bid Savings / VE: $45,502
Est. Final Total: $73,642
2. North Chiller Plant and Demske Culinary Support Center Roof Replacements:
Gebhart
This project replaced the roof at the North Chiller Plant with an EPDM roof and completed the second phase of the
replacement of the EPDM roof at the Culinary Support Center. Both roofs were beyond their useful life and were in
need of replacement.
Delivery Method: Single Prime Contractor
Project Revenue
Design and Administration
Cost of Work
Contingency
Owner Costs
Total
$54,365
$609,700
$60,000
$11,535
$735,600
Project Expense
Design and Administration
Cost of Work
Contingency
Owner Costs
Total
$54,365
$408,600
$0
$4,849
$467,814
Est. Contingency Balance Returned: $60,000
Est. Contingency Balance Returned Percent of Total: 100%
Est. Bid Savings / VE: $207,786
Est. Final Total: $267,786
Attachment A
Overall Page 28 of 107
Attachment Page 21 of 25
Capital Projects
Cody Powell
Attachment A
February 19, 2015
3. Wartsila Peaking Engines Controls Upgrade:
Rein
This project replaced obsolete equipment and software that is no longer be supported after this year. The control,
operating, and monitoring system of the Wartsila Peaking Engines (electric generators) was replaced with a more
current software and hardware package. Engines were commissioned and functionally tested during Thanksgiving
weekend. EPA regulatory testing of the exhaust stream was performed during the commissioning process. The
project began in October with Wartsila as the contractor performing the majority of the work with Miami support via
electrical and controls subcontractors.
Delivery Method: Single Prime Contractor
Project Revenue
Design and Administration
Cost of Work
Contingency
Owner Costs
Total
$64,000
$1,200,000
$236,000
$0
$1,500,000
Project Expense
Design and Administration
Cost of Work
Contingency
Owner Costs
Total
$37,800
$1,123,100
$136,000
$1,222
$1,298,122
Est. Contingency Balance Returned: $100,000
Est. Contingency Balance Returned Percent of Total: 43%
Est. Bid Savings / VE: $101,878
Est. Final Total: $201,878
Attachment A
Overall Page 29 of 107
Attachment Page 22 of 25
Attachment A
Capital Projects
Cody Powell
February 19, 2015
Projects Between $50,000 and $500,000
Project
Airport RSA Grading Project
ASC Pavilion Audiovisual Upgrades
Art Building/Museum – Fire Alarm System Installation 2015
Art Museum Carpet and Drapery Replacement
Bachelor Hall – Lecture Hall 102 Renovation
Bachelor Hall – Room 102 Conversion to Classroom
Benton Hall – Agile Classroom
Campus Avenue Building – Enrollment Center Reorganization
Campus Avenue Building - Lobby and Auditorium Technology Improvements
Campus Avenue Building - One Stop Shop
Campus Avenue Water Main Work (in conjunction with City of Oxford)
Campus Irrigation – Lewis Place
Center for Performing Arts - Emergency Generator Replacement
Center for Performing Arts – Souers Recital Hall – Dimming System Replacement
Classroom Chair Replacement (17 classrooms)
Culinary Support Center – High Bay & Corridor Lighting Retrofit
E & G Buildings – Corridor Lighting Control
E & G Buildings – Elevator Repair and Renovation 2015
E & G Buildings – Relamping
E & G Buildings – Summer Painting – Building Exteriors 2014/2015
E & G Buildings – VAV Box Occupancy Sensors Installation
Emergency Phones Phase II
Etheridge Hall Stair Improvements
Farmer School of Business – Exterior Entrance Door Repairs
Hamilton Campus – North Hall Fiber Installation
Hamilton Campus – Parrish Auditorium – LED Lighting Retrofit
Hamilton Campus – Rentschler Hall Entry Reconstruction
Hamilton Campus – Retro-commissioning
Hamilton Campus – Select Window and Door Replacement
Hamilton Campus – University Hall Emergency Generator Installation
Harris Drive Parking Lots
Harrison Hall – Janus Space Renovation
Havighurst Elevator Replacement
Hayden Park – FF&E
Heritage Commons – Sink Replacement
Heritage Commons – Plumbing Upgrades 2015
HDRBS – Exterior Summer Painting 2014
HDRBS – Residence Hall Signage
Hughes C-Wing HVAC Improvements
Hughes Hall Still Replacement
Irvin Drive Relocation
Irvin Hall – Classroom 10 Interior Finish Upgrades
Irvin Hall – Classroom 40 Renovation
King Library Dean’s Suite
King Library Emergency Generator Upgrade
King Library – Office of Undergraduate Research
Kreger Hall Furniture Package
Lewis Place Repairs 2014
MacCracken Market AC Upgrades
MacMillan Hall – Global Initiatives Renovation
Attachment A
Overall Page 30 of 107
Budget
$120,000
$75,000
$200,000
$50,000
$440,000
$100,000
$50,000
$200,000
$230,000
$202,000
$150,000
$63,400
$95,000
$54,000
$189,685
$75,000
$200,000
$275,000
$350,000
$187,000
$150,000
$495,000
$60,000
$150,000
$77,400
$80,000
$150,000
$126,243
$238,100
$100,000
$335,000
$80,000
$125,000
$150,000
$60,000
$195,000
$50,000
$260,000
$400,000
$160,000
$200,000
$330,000
$385,000
$63,000
$392,800
$490,000
$300,000
$316,400
$75,000
$66,000
Attachment Page 23 of 25
Capital Projects
Cody Powell
Attachment A
February 19, 2015
Marcum Conference Center – Rework Curtain Drain
McGuffey Hall – Conference Room Renovation
McGuffey Hall – Multipurpose Learning Center
McGuffey Hall – Room 100 – EDP Clinic Redesign
McKee Hall – Replace Student Room VCT Floors
Middletown Campus – Retro-commissioning
Middletown Campus – Verity Lodge HVAC Improvements Phase One
Millett Hall – Basketball Court Lighting Upgrade
Millett Hall / Cook Field Electrical Modifications
Millett Hall - Practice Gym Floor Replacement
Molyneaux Bells – Painting and Stone Repairs
Morris Hall – Repair Foundation Leaks
Murstein, Glos & Advancement Services - Electrical Modifications
North Campus Utility Improvements
Pearson Hall Laboratory AV Upgrades
Pearson Hall Laboratory Upgrades (267 B-F, G, H)
Pearson Hall – Mallory Wilson Center
Phillips Hall – Entryway Repairs
Phillips Hall – Sensory Lab
Recreational Sports Center – Bouldering Cave Replacement
Recreational Sports Center – Clock Wall Upgrade
Recreational Sports Center – Flooring Replacement – Lower Level and Upper Fitness
Recreational Sports Center – Hardscape Repairs
Recreational Sports Center – Partial Roof Repairs & Replacement
Recreational Sports Center – Window Repairs
Robertson Hall Building Demolition
South Chiller Plant Cooling Tower Rebuild
Steam Plant Locker Room Renovations
Thomson Hall Roof Replacement
Upham Hall Emergency Generator Upgrade
Upham Hall Greenhouse Deconstruction
Upham Hall – Religion and History Suite Renovation
Utility Group Network Reconfiguration
VOA – AV Upgrades
Western Residence Halls – Closet Additions
Williams Hall – East Wall Waterproofing
Yager Stadium – Cradle of Coaches Plaza – John Harbaugh Statue
Yager Stadium – Football Office Renovation
$50,000
$147,500
$85,490
$90,000
$60,000
$122,000
$215,800
$300,000
$200,000
$145,000
$50,000
$50,000
$198,500
$400,000
$398,022
$133,000
$176,200
$75,000
$90,000
$65,000
$50,000
$150,000
$100,000
$451,128
$146,250
$158,000
$250,000
$81,500
$470,000
$94,700
$336,100
$292,750
$150,000
$97,000
$225,000
$80,000
$158,166
$200,000
Projects Closed Between $50,000 and $500,000
Project
Airport Pavement and Runway Crack Sealing
Bachelor Hall – Classrooms 151 and 154 Upgrades
Harrison Hall Fire Alarm Replacement
Hiestand Hall – Room 009 Renovation
Middletown Campus – Thesken Hall Office Renovation
Attachment A
Original Budget
$291,500
$75,000
$200,000
$50,000
$63,000
Overall Page 31 of 107
Returned Funds
$48,800
$0
$104,068
$0
$100
Attachment Page 24 of 25
Attachment A
Capital Projects
Cody Powell
February 19, 2015
Glossary of Terms
Construction Manager at Risk (CMR) – is a delivery method which entails a commitment by the construction manager
to deliver the project within a Guaranteed Maximum Price (GMP). The owner contracts the architectural and engineering
services to perform the design from concept through construction bid documents using the construction manager as a
consultant. The construction manager acts as the equivalent of a general contractor during the construction phase. CMR
arrangement eliminates a "Low Bid" construction project. This method will typically be used on projects with high
complexity and demanding completion schedules.
Contingency – includes both owner contingency and the D/B or CMR contingency where applicable.
Cost of the Work – is the cost of construction. This includes general condition fees, contractor overhead and profit, D/B or
CMR construction stage personnel.
Design & Administration – includes all professional services to support the work. This consists of base
Architect/Engineer (A/E) fees, A/E additional services, A/E reimbursables, non-error/omission A/E contingency fees,
geotechnical services, special inspection services partnering services, multi-vista photo documentation of projects, D/B or
CMR pre-construction services, third party estimator, and local administration fees.
Design Build (D/B) – is a project delivery method in which the design and construction services are contracted by a single
entity and delivered within a Guaranteed Maximum Price (GMP). Design Build relies on a single point of responsibility
contract and is used to minimize risks for the project owner and to reduce the delivery schedule by overlapping the design
phase and construction phase of a project. This method will typically be used on projects with less complexity and have
demanding completion schedules.
Guaranteed Maximum Price (GMP) – is the negotiated contract for construction services when using D/B or CMR.
The owner negotiates a reasonable maximum price for the project (or component of the project) to be delivered within the
prescribed schedule. The D/B firm or CMR is responsible for delivering the project within the agreed upon GMP. This
process eliminates bidding risks experienced by the owner, allows creative value engineering (VE) to manage the budget, and
permits portions of the work to begin far earlier than traditional bidding of the entire project.
Multiple Prime Contracting – is a project delivery method historically allowed by the State of Ohio. The owner
contracts the architectural and engineering services to perform the design from concept through construction bid documents.
The construction services are divided into various trade specialties – each bid as a separate contract (general, plumbing,
mechanical, electrical, sprinkler, etc.). The owner is responsible for managing the terms of each contract and coordinating the
work between the multiple contractors.
Owner Costs – are costs directly borne by the owner to complete the project. This includes furniture, fixtures, and
equipment (FF&E), audio/visual (A/V), IT networking, percent for art (applicable on State funded projects exceeding $4
million), printing and advertising expenses, and any special moving or start-up funds.
Preconstruction Services – are the development and design services provided by a D/B firm or CMR to the owner. These
services are typically performed for an identified cost prior to the negotiation of a GMP. These services are included in
“Design and Administration.”
Single Prime Contracting – is a project delivery method in which the owner contracts the architectural and engineering
services to perform the design from concept through construction bid documents. The construction services are contracted
separately, but through a single entity. Single Prime Contracting is beneficial on projects with specialized construction
requiring more owner oversight or control. This method will typically be used on projects with high complexity and low
schedule importance.
Attachment A
Overall Page 32 of 107
Attachment Page 25 of 25
Attachment B
Resolution
Utility Easement
February 19, 2015
Business Session
Item 2c
Agenda Item
Finance and Business Services
Resolution #
RESOLUTION
WHEREAS, Miami University has entered into a ground lease with the
Evans Scholars Foundation of Ohio to permit the construction of a student
residential facility for Evans Scholars on property owned by the University
known as 11 North Bishop Street, Oxford, Ohio 45056;
WHEREAS, the construction of the facility involves the relocation of
electrical lines to allow for the transmission and distribution of electrical power to
the facility, which requires that the University grant a new utility easement to
Duke Energy of Ohio to construct and maintain these lines, a copy of which is
attached to this Resolution and incorporated herein (“Utility Easement”); and
WHEREAS, the Evans Scholars Foundation of Ohio has consented to the
granting of the Utility Easement across its leasehold;
NOW, THEREFORE, BE IT RESOLVED: that the Board of Trustees
approves the Utility Easement, subject to the terms and conditions set forth
therein.
BE IT FURTHER RESOLVED that the Senior Vice President for Finance
and Business Services be authorized to sign the Utility Easement, and perform
those acts necessary to carry out and perform the terms thereof.
February 20, 2015
Attachment B
Overall Page 33 of 107
Attachment Page 1 of 1
Year to Date Operating Results
Dr. Creamer
Attachment C
February 19, 2015
Miami University
Finance and Audit Committee
FY 2015 Forecasted Operating Results
Projections Based upon Activity through December 31, 2014
OXFORD
The projection for the Oxford General Fund based on performance through December is a
surplus of approximately $26.4 million. This projection reflects winter term and spring enrollments
outperforming budget assumptions, an improvement in state subsidy and departmental
underspending. Details of the specific items are highlighted below.
Revenues
The Oxford campus student fee revenues (instructional, general, out-of-state, and other) are
forecast to be approximately $13.5 million over the $297.2 million budget. Gross instructional
revenue (including the out-of-state surcharge) is forecast to be $12.6 higher than budget and
financial aid is forecast to be $892,091 under budget. The projections include billing from summer
of calendar year 2014, fall term, enrollments at the beginning of winter term, and preliminary
enrollments for spring. As noted in prior reports, the favorable performance compared to budget is
attributable to a larger than expected incoming class, improved retention rates for continuing
students and more ACE students than assumed in the budget. The forecast may change based on the
final performance of the winter, spring, and summer of calendar year 2015 terms.
The forecast for the Oxford campus state appropriations are based on action by the State of
Ohio Controlling Board as submitted by the Ohio Board of Regents in December. The approved
appropriation for Oxford was $1.7 million higher than budget.
Investment income booked through December 31, 2014 was approximately $2,721,957.
This amount does not include an estimate of the year end mark-to-market, which is difficult to
predict at this time. If we had marked the portfolio to market as of December 31, an unrealized loss
of $1,367,000 would have been recorded. Given the volatility of the current market, this number
could change as the year progresses. Therefore, we are forecasting investment income to be equal to
budget.
Other revenue categories are projected as budgeted.
Expenditures and Transfers
Employee salaries and staff benefits are projected to be $4.7 million and $988,214 under
budget, respectively. Healthcare expense is also projected to be under budget by$925,236. The
underspending in benefits and health care is attributable to vacant positions and are not reflective
costs associated to health care claims. Through the first six months of the fiscal year health care
claims were lower than budgeted. However, high cost claims in the first quarter were above the
prior years’ experience. Favorable trends in lower cost health care claims generally offset the
experience in high cost claims in the first quarter. Healthcare expenses are difficult to estimate due
to the volatility of high cost claims. The university paid its former third party administrator a
Attachment C
Overall Page 34 of 107
Attachment Page 1 of 17
Attachment C
Year to Date Operating Results
Dr. Creamer
February 19, 2015
$344,000 fee for managing “run-out” costs and may incur additional claim activity resulting from
the change in the plan administrators in January 2015.
Graduate assistant fee waivers were less than budgeted for the fall term resulting in a year
end projection of $1.4 million below the $20.8 million budget.
Savings in departmental support expenditures and salaries are projected on budget; therefore
the forecast does not include an end of the year transfer to departmental carry forward budgets
attributable this expense category at this time.
HAMILTON & MIDDLETOWN
The Hamilton campus student fee revenue (instructional, out-of-state, general, and other) is
estimated to be $1.7 below budget. The instructional fee, out-of-state surcharge, general fee and
other student revenue for the Middletown campus are forecast to be $685,314 below budget.
Middletown revenues are forecast below budget despite higher than budgeted participation in the
English Language Center program.
The state subsidy for the Hamilton is forecast to be $306,409 over budget due to the previously
mentioned revision to the state share of instruction by the State of Ohio and higher participation
rates in the PSEOP program. Similarly, the state subsidy for the Middletown campus is forecast to
be $391,481 above budget.
Expenditures for the Hamilton campus and the Middletown campus are forecast to be below budget
by $811,721 and $746,206, respectively. The favorable performance is attributable to lower than
budgeted expenses for salaries, and related health care and benefits.
Overall, the General Fund for Hamilton is projected at this time to end the fiscal year with a
$700,016 deficit while the Middletown campus is projected to have an operating deficit of
approximately $341,720. Cost containment actions are being undertaken on both campuses that are
expected to result in balanced budgets by the close of the fiscal year.
VOICE OF AMERICA LEARNING CENTER
The Voice of America Learning Center (VOALC) is projected to end the fiscal year on
budget. As in the prior fiscal year, the funding support for the VOALC has been separately
displayed for all three campuses and the VOALC. This transfer represents the budgeted financial
support from each campus for funding the VOALC administrative operations.
Attachment C
Overall Page 35 of 107
Attachment Page 2 of 17
Attachment C
Year to Date Operating Results
Dr. Creamer
February 19, 2015
MIAMI UNIVERSITY
FY2015 Forecast
Oxford General Fund Only
As Of December 31, 2014
December
End-of-Year
Forecast
Original
Budget
REVENUES:
Instructional & OOS Surcharge
Less Cohort Financial Aid Discount
Net Instructional Fee & Out-of-State Surcharge
General
Other Student Revenue
Tuition, Fees and Other Student Charges
December
Budget to
Forecast
$ 315,053,264
$ 51,280,135
$ 263,773,129
$ 31,165,178
$
2,294,000
$ 297,232,307
$ 327,626,921 $
$ 50,388,044 $
$ 277,238,877 $
$ 31,165,178 $
$
2,294,000 $
$ 310,698,055 $
12,573,657
(892,091)
13,465,748
13,465,748
$ 54,347,024
$
4,325,000
$
2,789,414
$ 358,693,745
$ 56,080,674
$
4,325,000
$
2,789,414
$ 373,893,143
$
$
$
$
1,733,650
15,199,398
EXPENDITURES:
Salaries
Benefits
Healthcare Expense
Graduate Assistant Fee Waivers
Graduate Fellowships & Student Waivers
Utilities
Undergraduate Scholarships & Student Waivers
Departmental Support Expenditures
Multi-year Expenditures
Total Expenditures
$ 160,371,577
$ 30,616,260
$ 28,665,117
$ 20,770,946
$ 10,382,454
$ 13,386,196
$ 12,432,881
$ 26,231,811
$
5,671,742
$ 308,528,984
$ 155,647,008
$ 29,628,046
$ 27,739,881
$ 19,417,163
$ 10,088,586
$ 13,333,451
$ 12,729,830
$ 26,231,811
$
5,671,742
$ 300,487,518
$
$
$
$
$
$
$
$
$
$
4,724,569
988,214
925,236
1,353,783
293,868
52,745
(296,949)
8,041,466
DEBT SERVICE AND TRANSFERS:
General Fee
Capital, Renewal & Replacement
Debt Service
Support for VOALC (50%)
Other Miscellaneous Operational Transfers
Total Debt Service and Transfers
$ (28,777,847) $ (28,777,847) $
$
(7,980,000) $
(7,980,000) $
$
(5,617,889) $
(5,617,889) $
$
(577,683) $
(577,683) $
$
(762,731) $
(762,731) $
$ (43,716,150) $ (43,716,150) $
Net Revenues/(Expenditures) Before Adjustments
$
ADJUSTMENTS:
Departmental Budgetary Savings
Departmental Budgetary Carryforward
Reserve for Investment Fluctuations
Reserve for Future Budgets
$
$
$
$
State Appropriations
Investment Income
Other Revenue
Total Revenues
Net Increase/(Decrease) in Fund Balance
Attachment C
$
6,448,611
6,448,611
Overall Page 36 of 107
-
$
29,689,475
$
23,240,864
$
$
$
$
(3,319,010)
-
$
$
$
$
(3,319,010)
-
$
26,370,466
$
19,921,855
Attachment Page 3 of 17
Attachment C
Year to Date Operating Results
Dr. Creamer
Attachment C
Overall Page 37 of 107
February 19, 2015
Attachment Page 4 of 17
Attachment C
Year to Date Operating Results
Dr. Creamer
Attachment C
Overall Page 38 of 107
February 19, 2015
Attachment Page 5 of 17
Year to Date Operating Results
Dr. Creamer
Attachment C
February 19, 2015
MIAMI UNIVERSITY
FY2015 Forecast
Hamilton General Fund Only
As Of December 31, 2014
Original
Budget
REVENUES:
Instructional & OOS Surcharge
Less Continuing & New Scholarships
Net Instructional Fee & Out-of-State Surcharge
General
Other Student Revenue
Tuition, Fees and Other Student Charges
End-of-Year
Forecast
Budget to
Forecast
$
$
$
$
$
$
20,847,554
715,000
20,132,554
1,185,610
227,000
21,545,164
$
$
$
$
$
$
19,196,562
715,000
18,481,562
1,145,000
227,000
19,853,562
$
$
$
$
$
$
(1,650,992)
(1,650,992)
(40,610)
(1,691,602)
$
$
$
$
6,825,172
30,000
66,000
28,466,336
$
$
$
$
7,131,581
30,000
66,000
27,081,143
$
$
$
$
306,409
(1,385,193)
EXPENDITURES:
Salaries
Benefits
Healthcare Expense
Graduate Assistant Fee Waivers
Utilities
Departmental Support Expenditures
Multi-year Expenditures
Total Expenditures
$
$
$
$
$
$
$
$
13,630,236
2,495,520
2,336,483
709,000
5,116,631
24,287,870
$
$
$
$
$
$
$
$
13,052,499
2,374,678
2,223,342
709,000
5,116,631
23,476,149
$
$
$
$
$
$
$
$
577,737
120,842
113,141
811,721
DEBT SERVICE AND TRANSFERS:
General Fee
Capital, Renewal & Replacement
Unrestricted Allocated Funds
Debt Service
Support for VOALC (25%)
Support for Middletown
Other Miscellaneous Operational Transfers
Total Debt Service and Transfers
$
$
$
$
$
$
$
$
(433,696)
(1,253,953)
(288,841)
(1,517,799)
(3,494,289)
$
$
$
$
$
$
$
$
(433,696)
(1,253,953)
(288,841)
(1,517,799)
(3,494,289)
$
$
$
$
$
$
$
$
Net Revenues/(Expenditures) Before Adjustments
$
ADJUSTMENTS:
Departmental Budgetary Savings
Departmental Budgetary Carryforward
Reserve for Investment Fluctuations
Reserve for Future Budgets
$
$
$
$
State Appropriations
Investment Income
Other Revenue
Total Revenues
Net Increase/(Decrease) in Fund Balance
Attachment C
$
684,177
684,177
Overall Page 39 of 107
-
$
110,705
$
(573,472)
$
$
$
$
(811,721)
-
$
$
$
$
(811,721)
-
$
(701,016) $
(1,385,193)
Attachment Page 6 of 17
Year to Date Operating Results
Dr. Creamer
Attachment C
February 19, 2015
MIAMI UNIVERSITY
FY2015 Forecast
Middletown General Fund Only
As Of December 31, 2014
Original
Budget
REVENUES:
Instructional & OOS Surcharge
Less Continuing & New Scholarships
Net Instructional Fee & Out-of-State Surcharge
General
Other Student Revenue
Tuition, Fees and Other Student Charges
End-of-Year
Forecast
Budget to
Forecast
$
$
$
$
$
$
12,371,134
630,000
11,741,134
725,677
78,700
12,545,511
$
$
$
$
$
$
11,893,610
800,000
11,093,610
640,000
78,700
11,812,310
$
$
$
$
$
$
(429,637)
170,000
(599,637)
(85,677)
(685,314)
$
$
$
$
4,661,702
120,402
17,327,615
$
$
$
$
5,053,183
120,402
16,985,895
$
$
$
$
391,481
(293,833)
EXPENDITURES:
Salaries
Benefits
Healthcare Expense
Graduate Assistant Fee Waivers
Utilities
Departmental Support Expenditures
Multi-year Expenditures
Total Expenditures
$
$
$
$
$
$
$
$
10,123,934
1,887,285
1,767,010
523,500
3,850,447
18,152,176
$
$
$
$
$
$
$
$
9,592,827
1,776,196
1,663,001
523,500
3,850,447
17,405,970
$
$
$
$
$
$
$
$
531,107
111,089
104,009
746,206
DEBT SERVICE AND TRANSFERS:
General Fee
Capital, Renewal & Replacement
Unrestricted Allocated Funds
Debt Service
Support for VOALC (25%)
Support From Hamilton
Other Miscellaneous Operational Transfers
Total Debt Service and Transfers
$
$
$
$
$
$
$
$
Net Revenues/(Expenditures) Before Adjustments
$
ADJUSTMENTS:
Departmental Budgetary Savings
Departmental Budgetary Carryforward
Reserve for Investment Fluctuations
Reserve for Future Budgets
State Appropriations
Investment Income
Other Revenue
Total Revenues
Net Increase/(Decrease) in Fund Balance
Attachment C
$
$
$
$
$
$
$
$
(148,217)
(256,180)
(288,841)
1,517,799
824,561
$
$
$
$
$
-
$
404,486
$
452,373
$
$
$
$
-
$
$
$
$
(746,206)
-
$
$
$
$
(746,206)
-
$
-
$
(341,720) $
(293,833)
(148,217)
(256,180)
(288,841)
1,517,799
824,561
Overall Page 40 of 107
$
$
-
Attachment Page 7 of 17
Year to Date Operating Results
Dr. Creamer
Attachment C
February 19, 2015
MIAMI UNIVERSITY
FY2015 Forecast
Voice of America Learning Center General Fund Only
As Of December 31, 2014
Original
Budget
REVENUES:
Instructional & OOS Surcharge
Less Continuing & New Scholarships
Net Instructional Fee & Out-of-State Surcharge
General
Other Student Revenue
Tuition, Fees and Other Student Charges
End-of-Year
Forecast
Budget to
Forecast
$
$
$
$
$
$
-
$
$
$
$
$
$
$
$
$
$
30,000
30,000
$
$
$
$
EXPENDITURES:
Salaries
Benefits
Healthcare Expense
Graduate Assistant Fee Waivers
Utilities
Departmental Support Expenditures
Multi-year Expenditures
Total Expenditures
$
$
$
$
$
$
$
$
224,228
46,900
43,912
59,900
294,250
669,190
$
$
$
$
$
$
$
$
224,228
46,900
43,912
59,900
294,250
669,190
$
$
$
$
$
$
$
$
DEBT SERVICE AND TRANSFERS:
General Fee
Capital, Renewal & Replacement
Unrestricted Allocated Funds
Debt Service
Support for VOALC Transfers
Other Miscellaneous Operational Transfers
Total Debt Service and Transfers
$
$
$
$
$
$
$
(35,300)
(480,875)
1,155,365
639,190
$
$
$
$
$
$
$
(35,300)
(480,875)
1,155,365
639,190
$
$
$
$
$
$
$
-
Net Revenues/(Expenditures) Before Adjustments
$
-
$
-
$
-
ADJUSTMENTS:
Departmental Budgetary Savings
Departmental Budgetary Carryforward
Reserve for Investment Fluctuations
Reserve for Future Budgets
$
$
$
$
-
$
$
$
$
-
$
$
$
$
-
$
-
$
-
$
-
State Appropriations
Investment Income
Other Revenue
Total Revenues
Net Increase/(Decrease) in Fund Balance
Attachment C
Overall Page 41 of 107
-
$
$
$
$
$
$
$
$
30,000 $
30,000 $
-
-
-
Attachment Page 8 of 17
Year to Date Operating Results
Dr. Creamer
Attachment C
February 19, 2015
MIAMI UNIVERSITY
Financial Analysis - by Operational Unit
FY2015 / FY2014 / FY2013
FY2013
FY2014
FY2015
Year-end Actual
Year-end Actual
Original Budget
Thru December Year To Date
FY2015
FY2014
FY 2015
FY2013
% of '15 Budget
% Change from '14 YTD
College of Arts & Sciences
Salary
$
46,952,076
$
48,100,556
$
50,989,977
$
23,143,497
$
22,634,018
$
22,072,242
45%
2%
Benefits
$
13,499,837
$
12,682,905
$
17,332,656
$
7,885,350
$
9,699,466
$
9,347,178
45%
-19%
1%
-98%
Scholarships & Fellowships
$
9,371,509
$
9,103,717
$
10,360,000
$
54,887
$
3,654,358
$
Departmental Support Expenses
$
3,983,660
$
4,221,714
$
6,999,444
$
2,024,859
$
2,010,204
$
2,009,114
-
29%
1%
Total Expenses
$
73,807,082
$
74,108,892
$
85,682,077
$
33,108,593
$
37,998,046
$
33,428,534
39%
-13%
College of Education, Health, and Society
Salary
$
11,598,400
$
12,132,366
$
12,758,177
$
5,954,434
$
5,686,015
$
7,501,541
47%
5%
Benefits
$
3,479,524
$
3,149,679
$
4,481,596
$
2,044,846
$
2,124,685
$
5,423,986
46%
-4%
Scholarships & Fellowships
$
1,587,145
$
1,716,761
$
2,460,100
$
39,034
$
710,849
$
2%
-95%
Departmental Support Expenses
$
1,592,367
$
1,474,216
$
2,322,200
$
721,004
$
679,389
$
618,939
31%
6%
Total Expenses
$
18,257,436
$
18,473,022
$
22,022,073
$
8,759,318
$
9,200,938
$
13,544,466
40%
-5%
Salary
$
6,313,828
$
6,565,594
$
6,471,100
$
3,182,635
$
3,173,535
$
3,020,279
49%
0%
Benefits
$
2,018,411
$
1,879,312
$
2,436,827
$
1,172,521
$
1,208,728
$
1,167,810
48%
-3%
-
College of Engineering and Computing
Scholarships & Fellowships
$
591,964
$
619,839
$
595,700
$
2,647
$
278,475
$
0%
-99%
Departmental Support Expenses
$
812,864
$
697,737
$
667,817
$
347,056
$
396,833
$
367,440
52%
-13%
Total Expenses
$
9,737,067
$
9,762,482
$
10,171,444
$
4,704,859
$
5,057,571
$
4,555,529
46%
-7%
Farmer School of Business
Salary
Benefits
Scholarships & Fellowships
Departmental Support Expenses
Total Expenses
$
$
$
$
$
19,232,431
6,269,421
661,368
2,067,815
28,231,035
$
$
$
$
$
17,708,566
6,002,199
505,930
2,036,979
26,253,674
$
$
$
$
$
17,746,318
6,861,081
854,700
3,301,666
28,763,765
$
$
$
$
$
9,534,341
3,522,548
8,349
1,148,635
14,213,873
$
$
$
$
$
8,620,263
3,174,776
215,355
1,059,212
13,069,606
$
$
$
$
$
9,140,932
3,592,432
1,089,182
13,822,546
54%
51%
1%
35%
49%
11%
11%
-96%
8%
9%
College of Creative Arts
Salary
Benefits
Scholarships & Fellowships
Departmental Support Expenses
Total Expenses
$
$
$
$
$
8,688,574
2,637,734
1,408,767
1,261,890
13,996,965
$
$
$
$
$
8,985,802
2,481,081
1,385,329
1,471,030
14,323,242
$
$
$
$
$
9,242,488
3,427,575
1,476,300
1,202,067
15,348,430
$
$
$
$
$
4,388,484
1,539,615
4,866
465,922
6,398,887
$
$
$
$
$
4,295,725
1,678,912
611,389
461,179
7,047,205
$
$
$
$
$
4,101,072
1,675,183
721,758
6,498,013
47%
45%
0%
39%
42%
2%
-8%
-99%
1%
-9%
Graduate School
Salary
Benefits
Scholarships & Fellowships
Departmental Support Expenses
Total Expenses
$
$
$
$
$
1,413,267
458,385
11,225,098
213,173
13,309,923
$
$
$
$
$
1,580,813
495,789
13,879,476
309,072
16,265,150
$
$
$
$
$
2,124,651
585,705
13,066,988
529,480
16,306,824
$
$
$
$
$
1,282,862
312,370
20,069,154
461,492
22,125,878
$
$
$
$
$
825,566
278,437
10,905,113
139,788
12,148,904
$
$
$
$
$
699,720
248,570
15,317,992
83,881
16,350,163
60%
53%
154%
87%
136%
55%
12%
84%
230%
82%
Attachment C
Overall Page 42 of 107
-
Attachment Page 9 of 17
Year to Date Operating Results
Dr. Creamer
Attachment C
February 19, 2015
MIAMI UNIVERSITY
Financial Analysis - by Operational Unit
FY2015 / FY2014 / FY2013
FY2013
FY2014
FY2015
Year-end Actual
Year-end Actual
Original Budget
Thru December Year To Date
Other Provost Departments
Salary
Benefits
Scholarships & Fellowships
Utilities
Departmental Support Expenses
Total Expenses
$
$
$
$
$
$
13,867,325
4,748,247
51,248,738
49,675
8,427,661
78,341,646
$
$
$
$
$
$
14,219,475
4,226,331
56,756,536
49,409
8,490,646
83,742,397
$
$
$
$
$
$
15,767,368
6,248,298
64,956,195
40,000
8,664,506
95,676,367
$
$
$
$
$
$
7,087,821
2,793,529
32,609,012
14,029
5,465,380
47,969,771
$
$
$
$
$
$
7,008,430
2,514,290
30,118,305
14,439
4,886,703
44,542,167
$
$
$
$
$
$
Total Provost Office
Salary
Benefits
Scholarships & Fellowships
Utilities
Departmental Support Expenses
Total Expenses
$
$
$
$
$
$
108,065,901
33,111,559
76,094,589
49,675
18,359,430
235,681,154
$
$
$
$
$
$
109,293,172
30,917,296
83,967,588
49,409
18,701,394
242,928,859
$
$
$
$
$
$
115,100,079
41,373,738
93,769,983
40,000
23,687,180
273,970,980
$
$
$
$
$
$
54,574,074
19,270,779
52,787,949
14,029
10,634,348
137,281,179
$
$
$
$
$
$
52,243,552
20,679,294
46,493,844
14,439
9,633,308
129,064,437
Physical Facilities
Salary
Benefits
Utilities
Departmental Support Expenses
Total Expenses
$
$
$
$
$
11,250,533
3,860,236
13,497,364
680,852
29,288,985
$
$
$
$
$
11,617,710
3,641,987
12,886,292
778,787
28,924,776
$
$
$
$
$
12,507,087
5,086,624
13,346,156
109,700
31,049,567
$
$
$
$
$
5,930,178
2,345,945
6,529,249
558,986
15,364,358
$
$
$
$
$
Other Finance & Business Services Departments
Salary
$
7,315,377
Benefits
$
2,552,995
Departmental Support Expenses
$
1,953,199
Total Expenses
$
11,821,571
$
$
$
$
7,788,857
2,417,137
1,910,247
12,116,241
$
$
$
$
7,922,062
3,202,754
2,011,008
13,135,824
$
$
$
$
3,847,594
1,538,940
1,162,859
6,549,393
FY2015
FY2014
FY 2015
FY2013
% of '15 Budget
% Change from '14 YTD
6,504,775
2,576,490
25,176,323
20,205
5,770,713
40,048,506
45%
45%
50%
0%
63%
50%
1%
11%
8%
-3%
12%
8%
$
$
$
$
$
$
53,040,561
24,031,649
40,494,315
20,205
10,661,027
128,247,757
47%
47%
56%
0%
45%
50%
4%
-7%
14%
-3%
10%
6%
5,563,517
2,189,319
6,440,802
131,684
14,325,322
$
$
$
$
$
5,550,431
2,221,140
6,891,139
132,488
14,795,198
47%
46%
49%
510%
49%
7%
7%
1%
324%
7%
$
$
$
$
3,787,693
1,483,456
1,286,213
6,557,362
$
$
$
$
3,605,369
1,457,290
1,028,112
6,090,771
49%
48%
58%
50%
2%
4%
-10%
0%
President
Salary
Benefits
Departmental Support Expenses
Total Expenses
$
$
$
$
3,344,745
1,159,471
4,297,354
8,801,570
$
$
$
$
3,864,846
1,196,472
5,182,721
10,244,039
$
$
$
$
4,458,543
1,741,002
3,863,534
10,063,079
$
$
$
$
1,908,894
750,137
1,441,164
4,100,195
$
$
$
$
1,841,448
710,958
2,476,551
5,028,957
$
$
$
$
1,601,066
632,574
1,225,059
3,458,699
43%
43%
37%
41%
4%
6%
-42%
-18%
Student Affairs
Salary
Benefits
Departmental Support Expenses
Total Expenses
$
$
$
$
5,137,896
2,633,052
(1,461,720)
6,309,228
$
$
$
$
5,220,016
2,493,588
(1,281,496)
6,432,108
$
$
$
$
5,769,015
3,182,155
317,716
9,268,886
$
$
$
$
2,752,115
1,022,193
(744,495)
3,029,813
$
$
$
$
2,639,840
1,104,948
(685,046)
3,059,742
$
$
$
$
2,584,042
1,071,401
(781,910)
2,873,533
48%
32%
-234%
33%
4%
-7%
9%
-1%
Attachment C
Overall Page 43 of 107
Attachment Page 10 of 17
Year to Date Operating Results
Dr. Creamer
Attachment C
February 19, 2015
MIAMI UNIVERSITY
Financial Analysis - by Operational Unit
FY2015 / FY2014 / FY2013
FY2013
FY2014
FY2015
Year-end Actual
Year-end Actual
Original Budget
University Advancement
Salary
Benefits
Departmental Support Expenses
Total Expenses
$
$
$
$
3,661,982
1,331,876
880,135
5,873,993
$
$
$
$
4,018,665
1,313,240
641,339
5,973,244
$
$
$
$
4,275,153
1,783,238
442,767
6,501,158
$
$
$
$
2,024,883
807,855
374,504
3,207,242
$
$
$
$
1,991,387
780,132
515,553
3,287,072
$
$
$
$
Information Technology
Salary
Benefits
Departmental Support Expenses
Total Expenses
$
$
$
$
7,528,219
2,637,089
4,197,960
14,363,268
$
$
$
$
7,759,854
2,489,482
2,585,768
12,835,104
$
$
$
$
8,545,654
3,460,988
3,050,444
15,057,086
$
$
$
$
3,648,397
1,475,162
2,189,922
7,313,481
$
$
$
$
3,816,277
1,519,121
2,426,874
7,762,272
$
$
$
$
Centrally Budgeted Funds
Salary
Benefits
Departmental Support Expenses
Total Expenses
$
$
$
$
5,651
1,456,500
1,462,151
$
$
$
$
5,537
819,405
672,155
$
$
$
$
1,793,984
547,311
6,543,642
8,884,937
$
$
$
$
7,091
826,440
833,531
$
$
$
$
1,744
670,411
672,155
$
$
$
$
Grand Total
Salary
Benefits
Scholarships & Fellowships
Utilities
Departmental Support Expenses
Admin Service Charge
Multi Year Accounts
Total Expenses
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
146,304,653
47,291,929
76,094,589
13,547,039
30,363,710
(7,323,609)
4,394,309
310,672,620
$
$
$
$
$
$
$
$
149,563,120
44,474,739
83,967,588
12,935,701
29,338,165
(7,639,099)
4,680,725
317,320,939
$
$
$
$
$
$
$
$
160,371,577
60,377,810
93,769,983
13,386,156
34,354,249
(8,122,398)
5,671,742
359,809,119
Thru December Year To Date
FY2015
$
$
$
$
$
$
$
$
74,686,135
27,218,102
52,787,949
6,543,278
16,443,728
(4,061,201)
2,103,508
175,721,499
FY2014
$
$
$
$
$
$
$
$
71,883,714
28,468,972
46,493,844
6,455,241
16,455,548
(3,823,718)
1,842,414
167,776,015
FY 2015
FY2013
% of '15 Budget
% Change from '14 YTD
1,759,067
704,568
433,377
2,897,012
47%
45%
85%
49%
2%
4%
-27%
-2%
4,052,766
1,644,606
2,621,595
8,318,967
43%
43%
72%
49%
-4%
-3%
-10%
-6%
3,450
(488,616)
(485,166)
0%
1%
13%
9%
0%
0%
23%
24%
72,193,302
31,766,678
40,494,315
6,911,344
14,831,132
(3,690,789)
1,788,756
164,294,738
47%
45%
56%
49%
48%
50%
37%
49%
4%
-4%
14%
1%
0%
6%
14%
5%
Note: Excludes Transfers
Attachment C
Overall Page 44 of 107
Attachment Page 11 of 17
Year to Date Operating Results
Dr. Creamer
Attachment C
February 19, 2015
MIAMI UNIVERSITY
Financial Analysis - Auxiliary Units (Oxford Campus)
FY2015/FY2014/FY2013
FY2013
FY2014
FY2015
Year-end Actual
Year-end Actual
Original Budget
Thru December YTD
FY2015
FY 2015
FY2014
FY2013
% of '15 Budget % Change from '14 YTD
Residence & Dining Halls
Revenue
$
General Fee Support
$
81,287,838
-
Total Sources $
81,287,838
$
$
88,831,152
-
$
88,831,152
$
$
96,593,023
-
$
96,593,023
$
$
$
95,293,869
95,293,869
$
$
$
86,727,285
86,727,285
$
$
84,307,336
-
$
84,307,336
99%
10%
0%
0%
99%
10%
12%
Salary
$
14,990,150
$
15,344,766
$
15,285,057
$
7,979,378
$
7,143,749
$
7,565,331
52%
Benefits
$
4,153,013
$
3,938,126
$
5,129,996
$
2,508,835
$
2,329,474
$
2,449,358
49%
8%
Utilites
$
5,373,101
$
5,614,894
$
6,453,809
$
3,025,192
$
2,531,909
$
2,609,987
47%
19%
23%
118%
Charge Outs
$
Operating Expenses
$
27,197,622
Inventory Purchases
$
372
Debt Service
(917,237) $
$
(407,594) $
29,339,543
(1,399,492) $
(328,636) $
(150,761) $
(154,107)
$
32,567,507
$
15,870,673
$
14,785,414
$
14,230,766
49%
7%
$
22,000
$
3,095
$
922
$
151
14%
236%
$
19,882,994
$
22,303,542
$
29,276,032
$
15,438,946
$
10,939,436
$
8,632,011
53%
41%
Total Uses $
70,680,014
$
76,133,276
$
87,334,909
$
44,497,483
$
37,580,142
$
35,333,498
51%
18%
42%
Net Transfers
$
(10,563,937) $
(12,261,837) $
(9,258,114) $
Net Total
$
43,887
Revenue
$
General Fee Support
$
(3,854,115) $
(4,579,175) $
(4,101,146)
$
436,036
$
-
$
46,942,271
$
44,567,968
$
44,872,692
0%
29,353,849
$
25,637,661
$
855,000
$
855,000
$
23,827,345
$
11,873,524
$
14,209,641
$
13,521,320
50%
855,000
$
427,500
$
427,500
$
427,500
50%
Total Sources $
30,208,849
$
26,492,661
0%
$
24,682,345
$
12,301,024
$
14,637,141
$
13,948,820
50%
-16%
Salary
$
5,982,966
$
Benefits
$
1,516,168
$
4,714,092
$
4,543,764
$
2,175,633
$
2,718,622
$
2,850,878
48%
-20%
1,080,457
$
1,437,874
$
681,074
$
774,227
$
818,658
47%
Utilities
$
574,747
$
-12%
508,405
$
477,204
$
702,913
$
270,083
$
279,464
147%
160%
Charge Outs
$
724
$
341,654
$
0%
0%
Operating Expenses
$
3,593,034
$
3,354,456
$
2,917,761
$
1,732,757
$
1,436,480
$
1,336,354
59%
21%
Inventory Purchases
$
16,889,533
$
14,371,431
$
13,697,085
$
5,422,728
$
6,953,090
$
9,010,725
40%
-22%
Debt Service
$
59,744
$
57,760
$
47,326
$
23,748
$
29,456
$
30,235
50%
0%
46%
39%
-12%
0%
-42%
5%
Shriver Center
Net Transfers
Net Total
Attachment C
Total Uses $
$
$
28,616,916 $
(1,559,069) $
32,864 $
(20,371) $
24,066,231 $
(2,303,909) $
122,521 $
23,462,668 $
(1,219,677) $
$
Overall Page 45 of 107
-
$
10,738,853 $
(477,822) $
1,084,349 $
-
$
12,181,958 $
(574,216) $
1,880,968 $
-
14,326,315
(353,348)
(730,842)
Attachment Page 12 of 17
-16%
Year to Date Operating Results
Dr. Creamer
Attachment C
February 19, 2015
MIAMI UNIVERSITY
Financial Analysis - Auxiliary Units (Oxford Campus)
FY2015/FY2014/FY2013
FY2013
FY2014
FY2015
Year-end Actual
Year-end Actual
Original Budget
Thru December YTD
FY2015
FY 2015
FY2014
FY2013
% of '15 Budget % Change from '14 YTD
Marcum Conference Center
Revenue
General Fee Support
Salary
Benefits
Utilities
Charge Outs
Operating Expenses
Inventory Purchases
Debt Service
Net Transfers 374000
Net Total
$
$
Total Sources $
$
$
$
$
$
$
$
Total Uses $
$
$
2,113,101
2,113,101
882,334
257,955
207,734
(128,599)
699,008
(3,196)
4,944
1,920,180
(185,756)
7,165
$
$
$
$
$
$
$
$
$
$
$
$
$
2,058,362
2,058,362
955,142
203,847
176,623
(7,087)
631,942
5,198
5,092
1,970,757
(18,533)
69,071
$
$
$
$
$
$
$
$
$
$
$
$
$
1,477,690
1,477,690
595,471
186,776
187,574
46,652
368,598
1,500
1,386,571
(91,119)
-
$
$
$
$
Total Sources $
$
$
$
$
$
$
$
$
$
Total Uses $
$
$
5,484,360
15,056,321
724,049
1,715,985
22,980,715
7,049,960
2,463,439
7,505
(100,969)
11,505,018
623,375
1,704,366
23,252,694
438,675
166,695
$
$
$
$
$
$
$
$
$
$
$
5,383,708
15,735,046
383,955
1,226,906
22,729,614
7,688,808
2,373,843
8,800
(117,760)
12,088,308
-
$
$
$
$
$
$
$
$
6,545,171
16,697,968
599,456
1,725,444
25,568,039
7,652,140
2,935,098
3,000
$
$
12,993,168
6,325
$
$
$
$
$
436,248
1,392,619
23,870,866
1,632,054
490,802
$
$
$
$
$
599,456
1,725,444
25,914,631
346,592
-
$
$
$
$
$
$
$
$
$
$
$
$
$
715,104
715,104
306,220
100,930
78,859
154,851
99
640,958
(45,559)
28,587
$
$
$
$
$
$
$
$
$
$
$
$
$
1,195,927
1,195,927
565,016
189,953
89,028
(12,500)
330,032
296
2,554
1,164,380
31,547
$
$
$
$
$
$
$
$
$
$
$
$
$
1,194,328
1,194,328
435,243
138,629
110,197
(38,000)
356,457
776
2,483
1,005,785
(66,128)
122,415
48%
0%
48%
51%
54%
42%
0%
42%
7%
0%
46%
50%
-40%
0%
-40%
-46%
-47%
-11%
-100%
-53%
-66%
-100%
-45%
0%
-9%
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
2,107,524
7,758,983
331,805
465,650
10,663,962
3,871,540
1,469,957
6,242
(71,411)
7,563,040
335,838
663,089
13,838,295
558,975
(2,615,359)
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
3,578,752
7,747,523
225,556
522,070
12,073,901
3,846,254
1,487,325
6,643
(35,342)
6,532,131
179,183
434,263
12,450,456
932,864
556,309
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
2,506,412
7,343,161
424,690
1,017,170
11,291,433
3,185,517
1,227,712
5,126
6,969,697
6,325
253,524
1,255,892
12,903,793
450,000
(1,162,360)
32%
46%
55%
27%
42%
51%
50%
208%
0%
58%
0%
0%
56%
38%
53%
161%
-41%
0.1%
47%
-11%
-12%
1%
-1%
-6%
0%
16%
0%
0%
87%
53%
11%
-40%
-570%
Intercollegiate Athletics
Revenue
General Fee Support
Designated Revenue
Restricted Revenue
Salary
Benefits
Utilities
Charge Outs
Operating Expenses
Inventory Purchases
Debt Service
Designated Expense
Restricted Expense
Net Transfers
Net Total
Attachment C
Overall Page 46 of 107
Attachment Page 13 of 17
Year to Date Operating Results
Dr. Creamer
Attachment C
February 19, 2015
MIAMI UNIVERSITY
Financial Analysis - Auxiliary Units (Oxford Campus)
FY2015/FY2014/FY2013
FY2013
FY2014
FY2015
Year-end Actual
Year-end Actual
Original Budget
Thru December YTD
FY2015
FY 2015
FY2014
FY2013
% of '15 Budget % Change from '14 YTD
Recreation Center
Revenue
General Fee Support
Salary
Benefits
Utilities
Charge Outs
Operating Expenses
Inventory Purchases
Debt Service
Net Transfers
Net Total
$
$
Total Sources $
$
$
$
$
$
$
$
Total Uses $
$
$
2,254,166
4,587,383
6,841,549
2,465,767
596,684
764,772
950,813
59,420
1,352,953
6,190,408
(636,878)
14,263
$
$
$
$
$
$
$
$
$
$
$
$
$
2,820,137
4,501,401
7,321,538
2,569,186
532,432
758,041
1,059,016
187,544
1,393,469
6,499,687
(726,064)
95,786
$
$
$
$
$
$
$
$
$
$
$
$
$
2,786,712
3,706,731
6,493,443
2,653,035
743,014
718,762
325,625
1,086,263
161,500
5,688,199
(805,244)
-
$
$
$
$
$
$
$
$
$
$
$
$
$
1,733,533
1,853,365
3,586,898
1,358,085
361,395
362,987
519,361
154,769
2,756,597
(402,623)
427,677
$
$
$
$
$
$
$
$
$
$
$
$
$
1,455,800
2,250,701
3,706,501
1,265,042
338,346
381,031
453,222
89,401
698,740
3,225,781
(174,682)
306,038
$
$
$
$
$
$
$
$
$
$
$
$
$
1,178,848
2,293,691
3,472,539
1,199,563
329,177
393,547
439,297
35,092
679,556
3,076,232
(126,343)
269,964
62%
50%
55%
51%
49%
51%
0%
48%
96%
0%
48%
50%
19%
-18%
-3%
7%
7%
-5%
0%
15%
73%
-100%
-15%
130%
40%
$
$
Total Sources $
$
$
$
$
$
$
$
Total Uses $
$
$
3,374,756
2,291,935
5,666,691
1,189,238
366,092
933,161
321,449
176,629
2,048,987
5,035,556
(616,003)
15,133
$
$
$
$
$
$
$
$
$
$
$
$
$
3,518,776
2,238,736
5,757,512
1,225,713
309,369
997,729
356,378
221,049
2,043,168
5,153,404
(557,937)
46,171
$
$
$
$
$
$
$
$
$
$
$
$
$
3,488,803
2,182,736
5,671,539
1,242,450
414,986
1,127,056
53,857
351,192
177,500
2,039,936
5,406,976
(264,563)
-
$
$
$
$
$
$
$
$
$
$
$
$
$
2,694,908
1,091,369
3,786,277
571,997
193,634
495,745
135,452
97,857
1,023,846
2,518,532
(147,282)
1,120,462
$
$
$
$
$
$
$
$
$
$
$
$
$
2,746,255
1,119,368
3,865,623
621,787
208,234
563,779
173,404
128,481
1,028,210
2,723,895
(128,969)
1,012,760
$
$
$
$
$
$
$
$
$
$
$
$
$
2,588,711
1,145,968
3,734,679
584,083
195,653
511,468
128,879
101,786
1,028,700
2,550,569
(133,001)
1,051,108
77%
50%
67%
46%
47%
44%
0%
39%
55%
50%
47%
56%
-2%
-3%
-2%
-8%
-7%
-12%
0%
-22%
-24%
0%
-8%
0%
11%
Goggin Ice Arena
Revenue
General Fee Support
Salary
Benefits
Utilities
Charge Outs
Operating Expenses
Inventory Purchases
Debt Service
Net Transfers
Net Total
Attachment C
Overall Page 47 of 107
Attachment Page 14 of 17
Year to Date Operating Results
Dr. Creamer
Attachment C
February 19, 2015
MIAMI UNIVERSITY
Financial Analysis - Auxiliary Units (Oxford Campus)
FY2015/FY2014/FY2013
FY2013
FY2014
FY2015
Year-end Actual
Year-end Actual
Original Budget
Thru December YTD
FY2015
FY 2015
FY2014
FY2013
% of '15 Budget % Change from '14 YTD
Parking and Transportation
Revenue
General Fee Support
Salary
Benefits
Utilities
Charge Outs
Operating Expenses
Inventory Purchases
Debt Service
Net Transfers
Net Total
$
$
Total Sources $
$
$
$
$
$
$
$
Total Uses $
$
$
3,744,839
200,000
3,944,839
409,328
127,144
(16,518)
1,662,405
1,502,366
3,684,724
(259,773)
343
$
$
$
$
$
$
$
$
4,130,539
200,000
4,330,539
448,533
132,777
(15,575)
1,798,245
$
$
$
$
$
$
$
$
4,009,620
200,000
4,209,620
459,598
166,046
(15,000)
1,818,516
$
$
$
$
1,937,403
4,301,383
11,171
40,327
$
$
$
$
$
$
$
$
$
$
$
$
$
1,716,099 $
4,145,259 $
(64,361) $
$
$
$
Total Sources $
$
$
$
$
$
$
$
Total Uses $
$
$
809,310
809,310
49,728
10,241
738,599
29,926
828,493
(28,199)
(47,382)
$
$
$
$
$
$
$
$
$
$
$
$
$
1,087,432
1,087,432
54,859
18,246
885,537
36,765
995,407
(79,420)
12,605
$
$
$
$
$
$
1,019,500
1,019,500
60,178
24,372
828,000
3,184,519
100,001
3,284,520
208,978
78,222
(10,820)
732,563
861,504
1,870,446
(32,179)
1,381,895
$
$
$
$
$
$
$
$
$
$
$
$
$
3,177,932
100,000
3,277,932
223,729
85,479
(7,282)
782,767
862,752
1,947,445
55,585
1,386,072
$
$
$
$
$
$
$
$
$
$
$
$
$
2,909,672
100,000
3,009,672
200,142
75,121
(12,635)
507,737
754,462
1,524,827
(54,886)
1,429,959
79%
50%
78%
45%
47%
0%
72%
40%
0%
50%
45%
50%
0%
0%
0%
-7%
-8%
0%
49%
-6%
0%
0%
-4%
0%
0%
$
$
$
$
$
$
$
$
$
$
$
$
$
426,976
426,976
24,453
9,098
389,156
11,648
434,356
(14,710)
(22,090)
$
$
$
$
$
$
$
$
$
$
$
$
$
348,139
348,139
21,411
8,671
338,844
10,037
378,963
(14,099)
(44,923)
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
-100%
0%
-100%
-100%
-100%
-100%
0%
-100%
0%
0%
-100%
0%
-100%
0%
0%
0%
43%
43%
35%
0%
49%
32%
0%
50%
86%
51%
0%
0%
0%
14%
14%
-10%
0%
1%
-24%
0%
-2%
18%
0%
-51%
Telecommunications
Revenue
General Fee Support
Salary
Benefits
Utilities
Charge Outs
Operating Expenses
Inventory Purchases
Debt Service
Net Transfers
Net Total
$
$
$
$
$
$
$
$
$
$
$
$
$
50,985 $
$
$
963,535 $
(55,965) $
$
-
Utility Enterprise
Revenue
General Fee Support
Salary
Benefits
Utilities
Charge Outs
Expense Recovery
Operating Expenses
Inventory Purchases
Debt Service
Net Transfers
Net Total
Attachment C
$
$
Total Sources $
$
$
$
$
$
$
$
Total Uses $
$
$
1,033,863
360,958
12,734,983
$
$
$
$
$
$
(24,395,392)
1,317,045
2,457,707
(6,490,836)
(6,457,260)
33,576
$
$
$
$
$
$
$
1,154,576
382,306
10,821,135
$
$
$
$
$
(22,515,171) $
1,384,738 $
331 $
2,428,526 $
(6,343,559) $
(6,274,088) $
69,471 $
1,379,030
556,102
12,352,449
(5,000)
(23,770,454)
1,681,119
2,407,322
(5,399,432)
(5,399,432)
-
$
$
$
$
$
$
$
$
$
$
$
$
$
$
Overall Page 48 of 107
593,569
239,573
4,371,069
(11,568,551)
534,014
1,208,497
(4,621,829)
(2,769,717)
1,852,112
$
$
$
$
$
$
519,316
209,730
4,857,786
$
$
$
$
$
$
487,763
200,214
5,237,217
$
$
$
$
$
$
$
(11,447,673)
703,841
1,230,635
(3,926,365)
(2,618,567)
1,307,798
$
$
$
$
$
$
$
(12,585,580)
491,880
1,239,344
(4,929,162)
(2,278,458)
2,650,704
Attachment Page 15 of 17
Year to Date Operating Results
Dr. Creamer
Attachment C
February 19, 2015
MIAMI UNIVERSITY
Financial Analysis - Auxiliary Units (Oxford Campus)
FY2015/FY2014/FY2013
FY2013
FY2014
FY2015
Year-end Actual
Year-end Actual
Original Budget
Thru December YTD
FY2015
FY 2015
FY2014
FY2013
% of '15 Budget % Change from '14 YTD
Student Health Services
Revenue
General Fee Support
Salary
Benefits
Utilities
Charge Outs
Operating Expenses
Inventory Purchases
Debt Service
Net Transfers
Net Total
$
$
Total Sources $
$
$
$
$
$
$
$
Total Uses $
$
$
1,848,419
752,469
2,600,888
1,287,326
433,343
279,630
120,707
2,121,007
(475,155)
4,726
$
$
$
$
$
$
$
$
$
$
$
$
$
1,736,418
624,649
2,361,067
985,363
305,503
1,682
500,155
133,673
1,926,377
(83,411)
351,279
$
$
$
$
$
$
$
$
$
$
$
$
$
1,797,300
477,051
2,274,351
951,648
382,945
759,319
115,000
2,208,912
(65,439)
-
$
$
$
$
$
$
$
$
$
$
$
$
$
939,344
238,525
1,177,869
429,874
173,878
2,103
341,578
64,870
1,012,303
(32,719)
132,847
$
$
$
$
$
$
$
$
$
$
$
$
$
1,033,938
312,325
1,346,263
507,600
204,209
204,651
73,904
990,363
(41,705)
314,194
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
1,690,773
1,690,773
141,593
36,952
140,881
$
$
$
$
$
$
4,142,026
700,000
4,842,026
376,241
84,095
330,134
$
$
$
$
$
$
$
$
$
$
$
$
$
533,408 $
$
2,392,272 $
3,716,150 $
(1,125,876) $
$
3,516,636
349,999
3,866,635
160,531
37,306
131,641
178,646
1,196,136
1,704,259
(452,731)
1,709,645
$
$
$
$
$
$
$
$
$
$
$
$
$
1,579,638
1,579,638
15,762
5,819
46,161
67,742
1,511,897
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
185,098
553,299
1,057,823
(581,623)
51,327
$
$
$
$
$
$
$
$
$
$
$
$
$
184,396
4,541,070
4,725,466
67,328
17,139
465,205
349,947
899,618
(3,972,012)
(146,163)
$
$
$
$
$
$
$
$
$
$
$
$
$
171,211
361,878
533,089
69,405
22,599
432,770
100
345,511
870,385
337,296
-
97,775
3,498,218
3,595,993
33,032
11,271
495,210
173,413
712,927
(3,068,068)
(185,002)
$
$
$
$
$
$
$
$
$
$
$
$
$
84,244
3,335,913
3,420,157
33,381
10,965
217,585
176,051
437,982
(2,661,501)
320,674
$
$
$
$
$
$
$
$
$
$
$
$
$
570,338
376,235
946,572
648,922
260,596
159,177
59,003
1,127,699
(37,577)
(218,704)
52%
50%
52%
45%
45%
0%
0%
45%
56%
0%
46%
50%
-9%
-24%
-13%
-15%
-15%
0%
0%
67%
-12%
0%
2%
0%
-58%
85%
50%
80%
43%
44%
40%
0%
33%
0%
50%
46%
40%
123%
0%
145%
918%
541%
0%
0%
287%
0%
0%
2416%
0%
-13%
57%
967%
675%
48%
50%
0%
0%
114%
0%
50%
82%
-910%
16%
5%
5%
-1%
3%
0%
0%
128%
0%
0%
63%
15%
-158%
Armstrong - Student Affairs
Revenue
General Fee Support
Salary
Benefits
Utilities
Charge Outs
Operating Expenses
Inventory Purchases
Debt Service
Net Transfers
Net Total
$
$
Total Sources $
$
$
$
$
$
$
$
Total Uses $
$
$
-
-
Other Auxiliary
Revenue
General Fee Support
Salary
Benefits
Utilities
Charge Outs
Operating Expenses
Inventory Purchases
Debt Service
Net Transfers
Net Total
Attachment C
$
$
Total Sources $
$
$
$
$
$
$
$
Total Uses $
$
$
209,120
2,835,318
3,044,438
64,925
20,302
203,421
344,998
633,645
(1,881,757)
529,036
$
$
$
$
$
$
$
$
$
$
$
$
$
Overall Page 49 of 107
97,050
2,450,494
2,547,544
32,513
10,602
88,975
173,181
305,272
(1,729,869)
512,403
Attachment Page 16 of 17
Year to Date Operating Results
Dr. Creamer
Attachment C
February 19, 2015
MIAMI UNIVERSITY
Financial Analysis - Auxiliary Units (Oxford Campus)
FY2015/FY2014/FY2013
FY2013
FY2014
FY2015
Year-end Actual
Year-end Actual
Original Budget
Thru December YTD
FY2015
FY 2015
FY2014
FY2013
% of '15 Budget % Change from '14 YTD
Total Auxiliary
Revenue
General Fee Support
Designated Revenue
Restricted Revenue
Salary
Benefits
Utilities
Expense Recovery
Charge Outs
Operating Expenses
Inventory Purchases
Debt Service
Designated Expense
Restricted Expense
Net Transfers
Net Total
Attachment C
$
$
$
$
Total Sources $
$
$
$
$
$
$
$
$
$
$
Total Uses $
$
$
130,479,759
26,578,426
724,049
1,715,985
159,498,220
35,405,583
10,305,338
21,334,602
(24,395,392)
(1,045,112)
47,759,370
17,243,093
27,654,692
623,375
1,704,366
136,472,802
(22,225,110)
800,307
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
137,079,353
28,695,902
383,955
1,226,906
167,386,115
35,349,959
9,330,996
19,913,727
(22,515,171)
(568,387)
51,199,848
14,919,226
31,072,206
436,248
1,392,619
140,531,273
(25,215,609)
1,639,233
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
145,858,401
25,181,364
599,456
1,725,444
173,364,665
35,268,017
12,083,903
22,477,988
(23,770,454)
(651,704)
55,560,606
14,181,010
38,224,498
599,456
1,725,444
155,698,763
(17,665,902)
-
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
Overall Page 50 of 107
122,156,737
15,079,435
331,805
465,650
134,405,516
17,688,835
5,856,076
8,681,005
(11,568,551)
(410,867)
28,258,145
5,743,419
19,926,091
335,838
663,089
73,964,567
(10,723,840)
49,717,110
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
116,216,388
15,293,330
225,556
522,070
130,677,706
17,484,711
5,852,859
8,525,636
(11,447,673)
(205,885)
25,677,336
7,246,094
14,967,834
179,183
434,263
69,210,393
(9,805,076)
51,662,237
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
109,222,154
13,760,814
424,690
1,017,170
124,801,062
17,211,366
5,714,391
8,974,382
(12,585,580)
(204,742)
24,719,256
9,207,533
12,546,297
253,524
1,255,892
67,603,791
(8,444,855)
48,752,416
84%
60%
0%
0%
78%
50%
48%
39%
49%
63%
51%
41%
52%
56%
38%
48%
61%
Attachment Page 17 of 17
5%
-1%
47%
-11%
3%
1%
0.1%
2%
1%
100%
10%
-21%
33%
87%
53%
7%
9%
-4%
Attachment D
FY2016 Budget Plan
DR. Creamer
February 19, 2015
Business Session
Item 4
FY2016 Key Budget Assumptions
Fall Class – First Time Students
Fall Class & Other Incoming Students
Enrollment mix - Non-Resident (first year)
Tuition Increase - Undergraduate
Tuition Increase - Graduate
State Share of Instruction - Change from FY15
Change in Investment Income
Salary Increment Pool
Health Care Trend
Undergraduate Scholarships (Increase)
Utilities Trend
Non-Personnel Inflation
Staff Benefit Rate
Strategic Priorities Initiatives
New Revenue
Expense Reductions - Productivity
Attachment D
Overall Page 51 of 107
Oxford
3,550
816
40.5%
-2.5%; 0%; +2%
2%
2%
0
2.0%
2.0%
$6.0 M
0%
2%
No Change
Hamilton &
Middletown
N/A
N/A
N/A
-2.5%, 0%; +2%
2%
2%
0
2.0%
2.0%
$0
0%
2%
No Change
$6,246,145
($1,229,998)
In Review
($202,588)
Attachment Page 1 of 5
Attachment D
FY2016 Budget Plan
DR. Creamer
February 19, 2015
Fall Class
Oxford
Fall Class – First Time Students
First Time Attending Post Secondary Education
Fall Class – Other Incoming Students
Transfer Students
Relocated Students
American Culture & English (ACE) Students
Total Fall Class – Other Incoming Students
224
302
250
776
4,326
Total Fall Class
Other – Oxford Pathway (TOP) Program Students
Total Fall Class & Other Students
Attachment D
3,550
Overall Page 52 of 107
40
4,366
Attachment Page 2 of 5
FY2016 Budget Plan
DR. Creamer
Attachment D
February 19, 2015
Oxford Campus Long Range Budget Plan - Updated 2/19/2015
Scenario 1 - Baseline 2% Tuition Increase, 2% Salary Increment
FY 2015 - FY 2023
Business Session
Item 4
FY2015 Budget
FY2015 Est.
FY 2016
FY 2017
FY 2018
FY 2019
FY 2020
FY 2021
FY 2022
FY 2023
$ 31,929,315
$ 35,321,018
$ 35,753,101
$ 36,468,163
$ 37,197,526
$ 37,941,477
$ 38,700,306
$ 39,474,312
$ 40,263,799
$ 41,069,075
$ 291,751,978
$ 298,026,896
$ 305,216,605
$ 313,336,063
$ 319,948,974
$ 328,983,500
$ 338,052,699
$ 346,437,604
$ 354,374,208
Baseline Revenues
$ 283,081,557
Undergraduate Tuition
$
298,987,943 $
304,210,161 $
310,833,109 $
316,473,534 $
327,578,477 $
338,057,217 $
347,479,993 $
358,015,598 $
367,331,623 $
Undergraduate Financial Aid
$
62,513,206 $
61,917,874 $
68,136,209 $
73,977,346 $
76,946,758 $
82,272,170 $
86,430,459 $
89,749,833 $
92,322,320 $
94,168,766
$
236,474,737 $
242,292,287 $
242,696,900 $
242,496,189 $
250,631,720 $
255,785,047 $
261,049,534 $
268,265,765 $
275,009,303 $
282,546,830
Graduate Tuition
$
34,069,569 $
37,391,131 $
37,804,473 $
38,627,498 $
39,525,473 $
40,315,217 $
41,212,500 $
42,026,806 $
42,839,451 $
43,800,445
Graduate Financial Aid
$
31,053,200 $
29,405,749 $
30,703,602 $
31,317,674 $
31,944,028 $
32,582,908 $
33,234,566 $
33,899,258 $
34,577,243 $
35,268,788
$
3,016,369 $
7,985,382 $
7,100,871 $
7,309,824 $
7,581,446 $
7,732,309 $
7,977,934 $
8,127,548 $
8,262,208 $
8,531,658
Total Net Tuition Revenue
$
239,491,106 $
250,277,668 $
249,797,770 $
249,806,012 $
258,213,165 $
263,517,356 $
269,027,468 $
276,393,313 $
283,271,512 $
291,078,488
State Support
$
54,347,024 $
56,080,674 $
55,440,268 $
56,555,378 $
56,555,378 $
57,692,789 $
58,852,949 $
58,852,949 $
60,036,312 $
61,243,342
Investment Income
$
4,325,000 $
4,325,000 $
4,325,000 $
6,325,000 $
7,325,000 $
9,000,000 $
9,000,000 $
10,000,000 $
10,000,000 $
11,000,000
Other Revenues
$
2,789,414 $
2,789,414 $
2,845,202 $
2,902,106 $
2,960,148 $
3,019,351 $
3,079,738 $
3,141,333 $
3,204,160 $
3,268,243
Transfer In
$
-
-
-
-
-
-
-
-
-
Undergraduate Net Tuition Revenue
Graduate Net Tuition Revenue
Total Baseline Revenues
Incremental Initiative Revenue (Includes Winter Term)
Adjusted Total Revenue
$ 300,952,544
$
$ 313,472,756
$
$ 312,408,241
$
$ 315,588,496
$
$ 325,053,692
$
$ 333,229,497
$
$ 339,960,156
$
$ 348,387,596
$
$ 356,511,984
376,715,597
$
-
$ 366,590,074
$ 14,154,930 $ 17,059,299 $ 17,727,006 $ 19,771,334 $ 17,284,958 $ 14,001,112 $ 14,222,595 $ 13,473,869 $ 13,219,974 $ 12,324,038
$ 315,107,474
$ 330,532,055
$ 330,135,247
$ 335,359,831
$ 342,338,650
$ 347,230,609
$ 354,182,751
$ 361,861,465
$ 369,731,958
$ 378,914,111
Baseline Expenses
Salaries
$
157,071,077 $
154,540,008 $
161,319,499 $
167,402,045 $
Promotion & Tenure
$
1,107,000 $
1,107,000 $
1,190,000 $
1,199,400 $
Health Care
$
28,665,117 $
27,739,881 $
30,671,675 $
33,015,630 $
35,186,265 $
37,497,359 $
39,960,398 $
Other Benefits
$
30,616,260 $
29,266,119 $
30,859,419 $
31,814,004 $
32,106,140 $
32,748,262 $
Utilities
$
13,386,196 $
13,333,451 $
13,791,990 $
14,203,393 $
14,628,553 $
15,066,055 $
Non-Personnel Expenses
$
31,903,553 $
31,903,553 $
32,541,624 $
30,192,457 $
30,796,306 $
Capital Expenses & Debt
$
14,938,303 $
14,938,303 $
14,040,288 $
16,573,069 $
General Fee Allocation
$
28,777,847 $
28,777,847 $
29,459,326 $
30,082,515 $
Prior Strategic Priorities Savings
$
Total Baseline Expenses
Adjustments to Expense
SPTF
Productivity
Winter Term Costs
Incremental Cost of New Revenue Initatives
New Investments
Adjusted Total Expenses
Surplus/Deficit
Attachment D
-
$ 306,103,425
$
-
$ 301,606,161
$
-
$ 313,873,821
$
-
$ 324,482,513
$
171,949,486 $
176,597,464 $
180,628,181 $
184,749,487 $
188,963,395 $
1,208,988
498,768
508,743
518,918
529,296
539,882
42,585,213 $
45,382,441 $
48,363,406
33,403,228 $
34,071,292 $
34,752,718 $
35,447,772
15,516,311 $
15,979,693 $
16,456,582 $
16,947,373
31,412,232 $
32,040,476 $
32,681,286 $
33,334,912 $
34,001,610
16,536,752 $
16,545,989 $
16,239,386 $
16,216,174 $
16,210,178 $
16,179,717
30,770,820 $
31,419,592 $
32,189,194 $
32,969,017 $
33,691,682 $
34,421,560
$ 333,183,309
$
-
$ 341,785,720
$
$
-
$ 350,485,916
$
$
-
$ 359,771,081
$
193,271,959
$
-
$
$
-
$ 369,321,205
$
-
$ 379,173,280
$ (4,200,308) $ (4,241,211)
$
$
$ (258,407)
$
$
$ (1,229,998)
$ 2,555,428 $ 2,555,428 $ 2,606,536
$ 4,200,308 $ 4,241,211 $
192,901
$
$
$ 2,340,950
$
(66,886) $
$
$
$
$
$
$ (2,453,846) $ (3,671,574) $ (4,883,214) $ (6,088,796) $ (7,288,350) $ (8,481,906) $ (9,669,494)
$ 2,658,667 $ 2,711,840 $ 2,766,077 $ 2,821,398 $ 2,877,826 $ 2,935,383 $ 2,994,091
$ 4,044,766 $ 6,127,230 $ 7,326,760 $ 8,335,305 $ 9,122,971 $ 9,769,935 $ 10,132,973
$
$
$
$
$
$
$
-
$ 308,658,853
$ 304,161,589
$ 317,525,803
$ 328,665,215
$ 338,350,805
$ 346,995,343
$ 355,553,824
$ 6,448,621
$ 26,370,466
$ 12,609,444
$ 6,694,616
$ 3,987,844
$
$ (1,371,073) $ (2,622,064) $ (3,812,659) $ (3,716,738)
Overall Page 53 of 107
235,266
$ 364,483,528
$ 373,544,617
$ 382,630,849
Attachment Page 3 of 5
FY2016 Budget Plan
DR. Creamer
Attachment D
February 19, 2015
Oxford Campus Long Range Budget Plan - Updated 2/19/2015
Scenario 2 - Flat UG Resident Tuition in FY16 & FY17 and 2% Salary Increment in FY16 & FY17
FY 2015 - FY 2023
FY2015 Budget
$
31,929,315
FY2015 Est.
$
35,321,018
FY 2016
$
FY 2017
35,753,101
$
FY 2018
36,468,163
$
FY 2019
37,197,526
$
FY 2020
37,941,477
$
FY 2021
38,700,306
$
FY 2022
39,474,312
$
FY 2023
40,263,799
$
41,069,075
Baseline Revenues
$ 283,081,557
$ 291,751,978
$ 295,638,738
$ 300,427,361
$ 308,485,859
$ 315,012,029
$ 323,977,173
$ 332,973,665
$ 341,290,626
$ 349,143,636
Undergraduate Tuition
$
298,987,943
$
304,210,161
$
307,877,444
$
310,538,081
$
321,557,250
$
331,926,007
$
341,251,508
$
351,686,156
$
360,908,246
$
Undergraduate Financial Aid
$
62,513,206
$
61,917,874
$
68,136,209
$
73,324,842
$
75,945,416
$
80,954,637
$
84,803,442
$
88,090,275
$
90,629,571
$
92,442,163
$
236,474,737
$
242,292,287
$
239,741,235
$
237,213,239
$
245,611,833
$
250,971,370
$
256,448,066
$
263,595,881
$
270,278,675
$
277,740,233
Graduate Tuition
$
34,069,569
$
37,391,131
$
37,804,473
$
38,627,498
$
39,525,473
$
40,315,217
$
41,212,500
$
42,026,806
$
42,839,451
$
43,800,445
Graduate Financial Aid
$
31,053,200
$
29,405,749
$
30,703,602
$
30,701,562
$
31,315,593
$
31,941,905
$
32,580,743
$
33,232,358
$
33,897,005
$
34,574,945
$
3,016,369
$
7,985,382
$
7,100,871
$
7,925,936
$
8,209,880
$
8,373,312
$
8,631,757
$
8,794,448
$
8,942,446
$
9,225,500
Total Net Tuition Revenue
$
239,491,106
$
250,277,668
$
246,842,106
$
245,139,175
$
253,821,714
$
259,344,682
$
265,079,823
$
272,390,328
$
279,221,120
$
286,965,734
State Support
$
54,347,024
$
56,080,674
$
55,440,268
$
56,555,378
$
56,555,378
$
57,692,789
$
58,852,949
$
58,852,949
$
60,036,312
$
61,243,342
Investment Income
$
4,325,000
$
4,325,000
$
4,325,000
$
6,325,000
$
7,325,000
$
9,000,000
$
9,000,000
$
10,000,000
$
10,000,000
$
11,000,000
Other Revenues
$
2,789,414
$
2,789,414
$
2,845,202
$
2,902,106
$
2,960,148
$
3,019,351
$
3,079,738
$
3,141,333
$
3,204,160
$
3,268,243
Transfer In
$
Undergraduate Net Tuition Revenue
Graduate Net Tuition Revenue
Total Baseline Revenues
Incremental Initiative Revenue (Includes Winter Term)
Adjusted Total Revenue
-
$ 300,952,544
$
-
$ 313,472,756
$
-
$ 309,452,576
$
-
$ 310,921,659
$
-
$ 320,662,240
$
-
$ 329,056,823
$
-
$ 336,012,510
$
-
$ 344,384,611
$
-
$ 352,461,592
$
370,182,396
-
$ 362,477,319
$ 14,154,930 $ 17,059,299 $ 17,727,006 $ 19,771,334 $ 17,284,958 $ 14,001,112 $ 14,222,595 $ 13,473,869 $ 13,219,974 $ 12,324,038
$ 315,107,474
$ 330,532,055
$ 327,179,582
$ 330,692,993
$ 337,947,198
$ 343,057,935
$ 350,235,105
$ 357,858,480
$ 365,681,566
$ 374,801,357
Salaries
$
157,071,077
$
154,540,008
$
161,319,499
$
167,402,045
$
171,949,486
$
176,597,464
$
180,628,181
$
184,749,487
$
188,963,395
$
Promotion & Tenure
$
1,107,000
$
1,107,000
$
1,190,000
$
1,199,400
$
1,208,988
$
498,768
$
508,743
$
518,918
$
529,296
$
539,882
Health Care
$
28,665,117
$
27,739,881
$
30,671,675
$
33,015,630
$
35,186,265
$
37,497,359
$
39,960,398
$
42,585,213
$
45,382,441
$
48,363,406
Other Benefits
$
30,616,260
$
29,266,119
$
30,859,419
$
31,814,004
$
32,106,140
$
32,748,262
$
33,403,228
$
34,071,292
$
34,752,718
$
35,447,772
Utilities
$
13,386,196
$
13,333,451
$
13,791,990
$
14,203,393
$
14,628,553
$
15,066,055
$
15,516,311
$
15,979,693
$
16,456,582
$
16,947,373
Non-Personnel Expenses
$
31,903,553
$
31,903,553
$
32,541,624
$
30,192,457
$
30,796,306
$
31,412,232
$
32,040,476
$
32,681,286
$
33,334,912
$
34,001,610
Capital Expenses & Debt
$
14,938,303
$
14,938,303
$
14,040,288
$
16,573,069
$
16,536,752
$
16,545,989
$
16,239,386
$
16,216,174
$
16,210,178
$
16,179,717
General Fee Allocation
$
28,777,847
$
28,777,847
$
28,891,819
$
28,936,306
$
29,599,797
$
30,225,328
$
30,967,036
$
31,718,609
$
32,415,283
$
33,118,932
Prior Strategic Priorities Savings
$
Baseline Expenses
Total Baseline Expenses
Adjustments to Expense
SPTF
Productivity
Winter Term Costs
Incremental Cost of New Revenue Initatives
New Investments
Adjusted Total Expenses
Surplus/Deficit
-
$ 306,103,425
$
-
$ 301,606,161
$
-
$ 313,306,314
$
-
$ 323,336,304
$
$ 332,012,286
$
-
$ 340,591,456
$
-
$ 349,263,759
$
-
$ 358,520,672
$
-
$ 368,044,806
$
-
$ 377,870,652
$ (4,200,308) $ (4,241,211)
$
$
$ (258,407)
$
$
$ (1,229,998)
$ 2,555,428 $ 2,555,428 $ 2,606,536
$ 4,200,308 $ 4,241,211 $
192,901
$
$
$ 2,340,950
$
(66,886) $
$
$
$
$
$
$ (2,453,846) $ (3,671,574) $ (4,883,214) $ (6,088,796) $ (7,288,350) $ (8,481,906) $ (9,669,494)
$ 2,658,667 $ 2,711,840 $ 2,766,077 $ 2,821,398 $ 2,877,826 $ 2,935,383 $ 2,994,091
$ 4,044,766 $ 6,127,230 $ 7,326,760 $ 8,335,305 $ 9,122,971 $ 9,769,935 $ 10,132,973
$
$
$
$
$
$
$
-
$ 308,658,853
$ 327,519,005
$ 304,161,589
$ 316,958,296
$ 337,179,782
$ 6,448,621 $ 26,370,466 $ 10,221,286 $ 3,173,988 $
Attachment D
-
193,271,959
Overall Page 54 of 107
$ 345,801,079
$ 354,331,666
$ 363,233,120
$ 372,268,218
$ 381,328,221
767,416 $ (2,743,143) $ (4,096,561) $ (5,374,640) $ (6,586,652) $ (6,526,864)
Attachment Page 4 of 5
FY2016 Budget Plan
DR. Creamer
Attachment D
February 19, 2015
Oxford Campus Long Range Budget Plan - Updated 2/19/2015
Scenario 3 - Undergraduate Resident Tuition Reduced 2.5% in FY16 & FY17 and 2% Salary Increment in FY16 & FY17
FY 2015 - FY 2023
FY2015 Budget
$
31,929,315
FY2015 Est.
$
35,321,018
FY 2016
$
FY 2017
35,753,101
$
FY 2018
36,468,163
$
FY 2019
37,197,526
$
FY 2020
37,941,477
$
FY 2021
38,700,306
$
FY 2022
39,474,312
$
FY 2023
40,263,799
$
41,069,075
Baseline Revenues
$ 283,081,557
$ 291,751,978
$ 292,653,541
$ 294,574,170
$ 302,558,165
$ 308,978,324
$ 317,858,672
$ 326,766,307
$ 335,000,228
$ 342,751,074
Undergraduate Tuition
$
298,987,943
$
304,210,161
$
304,182,863
$
303,284,046
$
314,198,385
$
324,432,728
$
333,639,343
$
343,950,607
$
353,057,893
$
Undergraduate Financial Aid
$
62,513,206
$
61,917,874
$
68,136,209
$
72,509,212
$
74,693,739
$
79,307,721
$
82,769,670
$
86,015,829
$
88,513,636
$
90,283,908
$
236,474,737
$
242,292,287
$
236,046,654
$
230,774,834
$
239,504,646
$
245,125,007
$
250,869,673
$
257,934,778
$
264,544,257
$
271,913,914
Graduate Tuition
$
34,069,569
$
37,391,131
$
37,804,473
$
38,627,498
$
39,525,473
$
40,315,217
$
41,212,500
$
42,026,806
$
42,839,451
$
43,800,445
Graduate Financial Aid
$
31,053,200
$
29,405,749
$
30,703,602
$
29,931,422
$
30,530,050
$
31,140,651
$
31,763,464
$
32,398,734
$
33,046,708
$
33,707,643
$
3,016,369
$
7,985,382
$
7,100,871
$
8,696,076
$
8,995,423
$
9,174,566
$
9,449,035
$
9,628,072
$
9,792,742
$
10,092,803
Total Net Tuition Revenue
$
239,491,106
$
250,277,668
$
243,147,524
$
239,470,910
$
248,500,069
$
254,299,573
$
260,318,708
$
267,562,850
$
274,337,000
$
282,006,717
State Support
$
54,347,024
$
56,080,674
$
55,440,268
$
56,555,378
$
56,555,378
$
57,692,789
$
58,852,949
$
58,852,949
$
60,036,312
$
61,243,342
Investment Income
$
4,325,000
$
4,325,000
$
4,325,000
$
6,325,000
$
7,325,000
$
9,000,000
$
9,000,000
$
10,000,000
$
10,000,000
$
11,000,000
Other Revenues
$
2,789,414
$
2,789,414
$
2,845,202
$
2,902,106
$
2,960,148
$
3,019,351
$
3,079,738
$
3,141,333
$
3,204,160
$
3,268,243
Transfer In
$
Undergraduate Net Tuition Revenue
Graduate Net Tuition Revenue
Total Baseline Revenues
Incremental Initiative Revenue (Includes Winter Term)
Adjusted Total Revenue
-
$ 300,952,544
$
-
$ 313,472,756
$
-
$ 305,757,995
$
-
$ 305,253,394
$
-
$ 315,340,595
$
-
$ 324,011,714
$
-
$ 331,251,396
$
-
$ 339,557,133
$
-
$ 347,577,472
$
362,197,823
-
$ 357,518,303
$ 14,154,930 $ 17,059,299 $ 17,727,006 $ 19,771,334 $ 17,284,958 $ 14,001,112 $ 14,222,595 $ 13,473,869 $ 13,219,974 $ 12,324,038
$ 315,107,474
$ 330,532,055
$ 323,485,001
$ 325,024,728
$ 332,625,553
$ 338,012,826
$ 345,473,991
$ 353,031,002
$ 360,797,446
$ 369,842,340
Salaries
$
157,071,077
$
154,540,008
$
161,268,877
$
167,350,411
$
171,896,820
$
176,543,744
$
180,573,387
$
184,693,597
$
188,906,387
$
Promotion & Tenure
$
1,107,000
$
1,107,000
$
1,190,000
$
1,199,400
$
1,208,988
$
498,768
$
508,743
$
518,918
$
529,296
$
539,882
Health Care
$
28,665,117
$
27,739,881
$
30,671,675
$
33,015,630
$
35,186,265
$
37,497,359
$
39,960,398
$
42,585,213
$
45,382,441
$
48,363,406
Other Benefits
$
30,616,260
$
29,266,119
$
30,247,094
$
30,577,107
$
30,844,505
$
31,461,395
$
32,090,623
$
32,732,435
$
33,387,084
$
34,054,826
Utilities
$
13,386,196
$
13,333,451
$
13,791,990
$
14,203,393
$
14,628,553
$
15,066,055
$
15,516,311
$
15,979,693
$
16,456,582
$
16,947,373
Non-Personnel Expenses
$
31,903,553
$
31,903,553
$
32,541,624
$
30,192,457
$
30,796,306
$
31,412,232
$
32,040,476
$
32,681,286
$
33,334,912
$
34,001,610
Capital Expenses & Debt
$
14,938,303
$
14,938,303
$
14,040,288
$
16,573,069
$
16,536,752
$
16,545,989
$
16,239,386
$
16,216,174
$
16,210,178
$
16,179,717
General Fee Allocation
$
28,777,847
$
28,777,847
$
28,182,436
$
27,535,462
$
28,168,627
$
28,765,754
$
29,473,372
$
30,190,418
$
30,855,328
$
31,526,920
Prior Strategic Priorities Savings
$
Baseline Expenses
Total Baseline Expenses
Adjustments to Expense
SPTF
Productivity
Winter Term Costs
Incremental Cost of New Revenue Initatives
New Investments
Adjusted Total Expenses
Surplus/Deficit
-
$ 306,103,425
$
-
$ 301,606,161
$
-
$ 311,933,984
$
$ 320,646,930
$
-
$ 329,266,814
$
-
$ 337,791,295
$
-
$ 346,402,695
$
-
$ 355,597,734
$
-
$ 365,062,209
$
-
$ 374,827,545
$ (4,200,308) $ (4,241,211)
$
$
$ (258,407)
$
$
$ (1,229,998)
$ 2,555,428 $ 2,555,428 $ 2,606,536
$ 4,200,308 $ 4,241,211 $
192,901
$
$
$ 2,340,950
$
(66,886) $
$
$
$
$
$
$ (2,453,846) $ (3,671,574) $ (4,883,214) $ (6,088,796) $ (7,288,350) $ (8,481,906) $ (9,669,494)
$ 2,658,667 $ 2,711,840 $ 2,766,077 $ 2,821,398 $ 2,877,826 $ 2,935,383 $ 2,994,091
$ 4,044,766 $ 6,127,230 $ 7,326,760 $ 8,335,305 $ 9,122,971 $ 9,769,935 $ 10,132,973
$
$
$
$
$
$
$
-
$ 308,658,853
$ 324,829,631
$ 304,161,589
$ 315,585,966
$ 6,448,621 $ 26,370,466 $ 7,899,035 $
Attachment D
-
193,213,811
$ 334,434,310
$ 343,000,917
$ 351,470,603
$ 360,310,182
$ 369,285,620
$ 378,285,115
195,098 $ (1,808,757) $ (4,988,091) $ (5,996,612) $ (7,279,180) $ (8,488,175) $ (8,442,774)
Overall Page 55 of 107
Attachment Page 5 of 5
Attachment E
Draft Quasi-Endowment Policy
Dr. Creamer and Bruce Guiot
February 19, 2015
Business Session
Item 5
MIAMI UNIVERSITY
Quasi-Endowment Funds Policy
February 2015
*DRAFT*
From time to time, Miami University accumulates financial balances through the receipt of
large, unrestricted gifts and the prudent management of resources. Periodically, it may be
appropriate to establish a quasi-endowment with these funds.
Definition
Quasi-endowment funds function like an endowment, but are funded from institutional funds
or non-endowed donor gifts. The intended use of these funds is determined by designation of
the governing body of the institution.
Purpose
To provide a vehicle for academic divisions of Miami University to target the long-term
investment of carry forward funds and non-endowed donor gifts for purposes outside the
normal operating budget of the University. Quasi-endowments provide clarity regarding how
carry forward funds and donor gifts benefit current and future students. A quasi-endowment is
invested in the endowment pool and provides a long-term source of funding for specific or
strategic programming through an annual distribution of a portion of its earnings. This
approach provides a more diversified and less tuition dependent revenue source for the
University, and helps to offset the lack of a larger University endowment.
Guidelines
1. Quasi-endowments are long-term funding sources for the designated purposes, as
identified by the Miami University administration and ratified by its Board of Trustees.
2. The principal of quasi-endowments can divert back to carry forward funds only under
extraordinary circumstances.
3. Quasi-endowments are invested in the Miami University endowment pool. This pool is
exposed to long-term investment strategies that will result in short-term fluctuations in
market values. While care is given in the investment process to manage this volatility,
these valuation fluctuations may lead to volatility in the amount that is distributed each
year.
4. The annual spending distribution from quasi-endowment funds follow the endowment
spending policies approved by the Board of Trustees, and the funds are subject to the
endowment’s annual administrative fees.
Attachment E
Overall Page 56 of 107
Attachment Page 1 of 2
Attachment E
Draft Quasi-Endowment Policy
Dr. Creamer and Bruce Guiot
February 19, 2015
5. A portion of quasi-endowment principal may be distributed if the calculated spending
distribution is greater than the accumulated earnings. Such distributions must be
approved by the Board of Trustees.
6. The annual spending distributions from quasi-endowments should generally be used to
provide scholarships and quality improvements to academic programs.
7. Annual spending distributions will be made at the end of June to the designated
expendable accounts, as determined upon creation of each quasi-endowment.
8. Annual spending distributions may not be spent until they have been disbursed to
expendable accounts.
9. Minimum size for a quasi-endowment is $100,000.
Approval Process
1. Academic departments intending to create a quasi-endowment with budget carry
forward funds will describe the intended purpose of the fund in a memorandum to the
appropriate Dean.
2. If the Dean approves the plan, it is forwarded to the Provost and the Senior Vice
President for Finance & Business Services.
3. If the Provost and the Senior Vice President for Finance & Business Services approve the
plan, it is submitted to the Finance & Audit Committee of the University Board of
Trustees.
4. If the full Board of Trustees approves the plan, the designated amount is transferred to
the Miami University Endowment pool and a quasi-endowment fund is created in the
accounting system. Units in the pool are purchased at net asset value.
5. Quasi-endowments funded with donor gifts follow the above approval process, with the
Vice President for University Advancement leading the process and the purpose
adhering to any guidelines specified by the donor.
6. Future additions to existing quasi-endowments require approval of the Senior Vice
President of Finance and Business Services.
7. Quasi-endowments are intended to provide a permanent funding source. In order to
repurpose or terminate a quasi-endowment, the above approval process must be
repeated.
Attachment E
Overall Page 57 of 107
Attachment Page 2 of 2
Attachment F
Draft - Guaranteed Tuition
Dr. Creamer
February 19, 2015
Business Session
Item 6
DRAFT
The Miami University Tuition Guarantee
January 7, 2015
1. INTRODUCTION
The Miami University Tuition Guarantee is a cohort based approach to pricing tuition. A
student’s tuition, room and board rates (housing and dining plan costs) and other major
fees (defined later in this document) are established based on the year a student initially
enrolls at Miami and the cohort price remains unchanged for a four year period. The
guidelines governing the Tuition Guarantee are to be adopted by the Miami University
Board of Trustees and approved by the Chancellor of the Ohio Board of Regents. The
proposed program guidelines are described in this document.
2. DISSEMINATION
These guidelines, along with the Miami University Board of Trustees approved cohort
prices, are to be widely disseminated including published on the Miami University
Bursar, Admissions and other student service websites and in the Miami University
Student Handbook.
2. DEFINITION OF STUDENTS INCLUDED IN THE MIAMI UNIVERSITY TUITION GUARANTEE
Beginning with the 2015‐16 year (fall semester 2015, winter term 2016 and spring
semester 2016), every new degree‐seeking first‐year or transfer undergraduate student
enrolling for the first time on either the Oxford or a regional campus during this period
will be assigned to the initial student cohort for purposes of determining tuition under
the Miami University Guaranteed Tuition program. Participation in the tuition
guarantee program is mandatory for all undergraduate, degree seeking students
enrolling on a Miami University campus for the first time in summer 2015 or later.
The level tuition for this initial cohort will last through summer term 2019 or four years.
For each subsequent cohort, level tuition pricing is to be adopted by the Miami
University Board of Trustees annually in accordance with Ohio’s laws and regulations
and will remain in effect for four years following the same annual calendar as the initial
cohort.
Additional details regarding the establishment of the student’s cohort pricing follow:
a) ESTABLISHMENT OF THE COHORT GROUP – Any degree seeking,
undergraduate student who is registered for classes for the first time at either
the Oxford or a regional campus as of the fifteenth day of the fall or spring
term or the subsidy reporting date for the winter term is considered “enrolled”
for that term and is to be assigned to that cohort year for purposes of
determining tuition and fees for that term and for the four years covered by
the cohort price. Each cohort commences with the fall semester and the
pricing guarantee lasts for 16 terms ending with the summer term four years
later (e.g., Fall 2015 through Summer 2019).
b) SUMMER START STUDENTS – Students whose first term is a summer term
will pay the rate for the most recent cohort for the initial summer term, but
will be assigned to the entering fall cohort immediately following the
Attachment F
Overall Page 58 of 107
Attachment Page 1 of 8
Draft - Guaranteed Tuition
Dr. Creamer
Attachment F
February 19, 2015
DRAFT
The Miami University Tuition Guarantee
January 7, 2015
c)
d)
e)
f)
Attachment F
summer term. Summer start students are typically students who have
applied for admission with students enrolling for the first time for the fall
semester immediately following the summer term. By being assigned to the
fall cohort, these students will receive the benefit of the level tuition for four
full years after completing the initial summer term.
STUDENTS ENROLLED ON BOTH The OXFORD AND REGIONAL CAMPUSES – In
addition to students who take all of their credit hours during an academic
term (fall, winter, spring or summer)on either the regional campuses or the
Oxford campus, some students take classes at the regional campuses and the
Oxford campus during the same term. Historically, these students have been
assessed the tuition applicable to the “campus of the student” for all credit
hours taken. As Miami University adopts a tuition guarantee or cohort price
structure for the both the Oxford and the regional campuses, it will continue
to use the campus of the student to determine the campus cohort price
applicable for all hours enrolled by the student during an academic term.
RELOCATING STUDENTS– In those situations where a student in accordance
Miami University policies relocates from the Oxford Campus to the regional
campuses or from the regional campuses to the Oxford Campus, the student
will remain a part of their original cohort for purposes of the tuition
guarantee but will be assessed tuition and fees from the appropriate cohort
fee schedule for the newly assigned campus of the student. For students
moving from the regional campuses to the Oxford campus it will mean paying
the higher tuition and fees associated with the Oxford campus but based on
the appropriate cohort pricing. For Oxford campus students relocating to the
regional campuses, it will mean lower tuition and fees based on the
appropriate cohort pricing.
COTINUING STUDENTS – Continuing students (students admitted prior to
Summer 2015‐16) are not covered by the Miami University Tuition
Guarantee and will continue to have their tuition and fees set annually by the
Board of Trustees. However, these students can voluntarily elect to join the
cohort year in effect at the time of their election. Those students voluntarily
electing to participate in the tuition guarantee will pay the same tuition and
fees as those students enrolling at the university for the first time during that
cohort year for up to four years or the time remaining on the cohort pricing.
NON‐DEGREE STUDENTS – Students admitted or enrolled as non‐degree
students (who are not pursuing an undergraduate degree or have not been
admitted as a degree seeking student) are not part of The Miami University
Tuition Guarantee and will not be assigned to a cohort for purposes of
setting tuition and fees unless the student is subsequently admitted and
enrolls at Miami University as a degree seeking student. Tuition will be
assessed as historically has been done for these students. For example, this
applies to students enrolled in the American Culture and English Program
(ACE), high school students in the Post‐Secondary Enrollment Option
Programs, high school students participating in pre-enrollment programs at
Overall Page 59 of 107
Attachment Page 2 of 8
Attachment F
Draft - Guaranteed Tuition
Dr. Creamer
February 19, 2015
DRAFT
The Miami University Tuition Guarantee
January 7, 2015
Miami University, other high school students, exchange students, local
students taking occasional classes, etc. Once a student is admitted as a
degree‐seeking student, (s) he will be assigned to the cohort associated with
the initial enrolled semester following admission as a degree‐seeking
student. This would typically be the fall semester following admission.
g) RE‐ENROLLING STUDENTS – Re‐enrolling students who were admitted in a
degree‐seeking program prior to Fall 2016 will pay tuition and fees
associated with the traditional tuition model. These students are not part of
The Miami University Tuition Guarantee unless the student voluntarily elects
to participate in the guaranteed tuition program as outlined in 2.e above.
Re‐enrolling students who were initially admitted Fall 2016 or later will
follow the standard cohort rules for their cohort at the time they were
initially enrolled.
3. LENGTH OF COHORT GUARANTEED RATE
Each cohort under the Miami University Tuition Guarantee will only have 4 years at the
level rate regardless of course load (i.e. a student could be enrolled full‐time, half‐time,
or not enrolled during all or parts of the four year period covered by the cohort). The
guarantee does not provide the student with 16 enrolled terms at the guaranteed price
but a four year period whether the student is enrolled in all of the terms covered or
not.
Under the Miami tuition guarantee all students have the opportunity to complete as
many hours, majors, minors, and degrees within the 4 year cohort period as they
choose. Miami students under the tuition guarantee may also commence a graduate
program during the four years covered by the cohort guarantee and will be billed for their
graduate hours at the guaranteed undergraduate rate for tuition and fees.
The guaranteed tuition program is intended to encourage students to achieve early
degree completion and/or advance work towards graduate and professional education
within four years for the cost specified at the time the student initially enrolled. The
design of the guarantee is consistent with the Ohio Board of Regents desire to encourage
timely graduation which benefits the student financially and advances Ohio’s economic
objective of having a more skilled work force.
4. LENGTH OF COHORT RATE TABLE
The Miami University Guarantee is 16 terms commencing with the fall semester. Some
students may require additional terms beyond the 16 terms to complete their
baccalaureate degree and can, under certain circumstances, apply to attend Miami
University beyond the cohort period at the price under the guarantee when certain
exceptions are met (these exceptions are described later in this document). A student
must apply for the exception prior to the conclusion of their four year guarantee. Students
with approved exceptions will be granted an additional term(s) at their established cohort
rate. The length of the exception will be stipulated as part of the approval.
Attachment F
Overall Page 60 of 107
Attachment Page 3 of 8
Attachment F
Draft - Guaranteed Tuition
Dr. Creamer
February 19, 2015
DRAFT
The Miami University Tuition Guarantee
January 7, 2015
5. ACADEMIC COSTS INCLUDED IN THE MIAMI UNIVERSITY TUITION GUARANTEE
The Miami University Tuition Guarantee is a comprehensive program consisting of
the following assured costs for students. These fees are assessed based upon the
campus of the student, program or major and enrolled courses.
a) UNDERGRADUATE RESIDENT AND NON-RESIDENT INSTRUCTIONAL FEE – All
undergraduate instructional fees (resident and non-resident) are covered
under the tuition guarantee. If a student’s campus or residency changes
during the period of the cohort guarantee, the student’s instructional fee will
be adjusted to reflect the correct instructional fee based on the student’s
level cohort price schedule which shall apply throughout period of the cohort
guarantee.
b) UNDERGRADUATE GENERAL FEE – All undergraduate general fees are covered
under the tuition guarantee. If a student changes his/her campus, the general
fee will be adjusted to reflect the correct general fee for the new campus
based on the student’s level cohort price schedule which shall apply for the
remaining period of the cohort guarantee.
c) UNIFORMLY ASSESSED FEES – Miami University assesses a number of fees
depending on the campus for designated purposes to support student
programming and services that either augment or are in addition to academic
programming. These uniformly assessed fees are included in the tuition
guarantee and include the following:
1) TECHNOLOGY FEE
2) MIAMI METRO FEE
3) FACILITY FEE
4) ARMSTRONG STUDENT CENTER FEE
d) INDIVIDUAL COURSE FEES – Select courses have additional fees that are used to
offset the cost of acquiring instructional materials used by the student in the
course. These fees are NOT included in the Miami University Tuition Guarantee.
e) PROGRAM FEES – Some high cost majors have fees that are either assessed to
students majoring in these programs or for credit hours enrolled in these majors.
Program fees apply to business, engineering and fine arts students. These fees are
covered under the cohort tuition guarantee.
f) OTHER ACADEMIC FEES, FINES AND COSTS – All other fees, fines and costs
including textbooks, course materials, classroom equipment etc. not specifically
identified are excluded from the guarantee. The goods or services associated with
these fees are subject to price changes, student consumption and/or other factors
that make it impractical to include them as part of the tuition guarantee. Whether
the fee is covered under the tuition guarantee or not, Miami will seek to limit
increases in these fees to the greatest extent practical.
6. OTHER STUDENT COSTS INCLUDED IN THE MIAMI UNIVERSITY GUARANTEE
The goal of The Miami University Tuition Guarantee is to provide a comprehensive
Attachment F
Overall Page 61 of 107
Attachment Page 4 of 8
Attachment F
Draft - Guaranteed Tuition
Dr. Creamer
February 19, 2015
DRAFT
The Miami University Tuition Guarantee
January 7, 2015
view of the anticipated costs for completing an undergraduate degree at Miami
University. The following costs are also included in the Miami University Tuition
Guarantee:
a) HOUSING RATES – Students in the Miami University Tuition Guarantee will have a
guaranteed price schedule for housing that represents the various housing
options available to undergraduate students. The rate charged to the student is
based upon the student’s chosen or assigned residence type, e.g. single room,
double room, triple occupancy, new construction and renovated hall. If a
student changes from one room type to another, the housing rate charged to
the student will be adjusted based on a guaranteed cohort price schedule that
remains in effect for the cohort pricing period. Student requests to reside on
campus beyond the sophomore or second year are subject to room availability.
The guaranteed cohort price structure does not assure students access to oncampus housing following the residency requirement. However, if a space is
available for a student who has already met the campus residency requirement,
then the established cohort rate for the available room type will be honored
throughout the period covered by the cohort guarantee.
b) MEAL PLAN RATES – Students in the Miami University Tuition Guarantee will pay
a level meal plan rate throughout the cohort period based upon the type of meal
plan selected. A student may select from different meal plan options at the
established cohort rate throughout the cohort guarantee. While the meal plan
price remains constant for the cohort period, individual meal and menu items
will be subject to price changes.
7. OTHER STUDENT COSTS NOT PART OF THE MIAMI UNIVERSITY TUTION GUARANTEE
All other fees, fines, and costs related to attending Miami University not specifically
identified as part of the tuition guarantee are excluded from the tuition guarantee
program and may be subject to price changes. While such costs are excluded from the
tuition guarantee, Miami University will endeavor to limit any new or increase in fees.
8. COHORT PRICING MODEL BEYOND THE INITIAL YEAR
After year one, subsequent cohort increases will be determined by the combination of
future legislative tuition caps combined with a rolling five‐year average of the CPI as
stipulated by Ohio law. This rate of increase will be benchmarked against the other
State of Ohio four‐ year research institutions’ four‐year rolling cost averages to account
for the impact of the cohort pricing model on tuition changes. If Miami University’s
price changes fall significantly below peer institutions, Miami University may submit to
the Chancellor of the Board of Regents for approval an additional increase in the
forthcoming cohort pricing. All annual increases in the cohort pricing are subject to the
approval of the Miami University Board of Trustees who desire to offer high impact
educational opportunities for students as affordably as possible.
Attachment F
Overall Page 62 of 107
Attachment Page 5 of 8
Attachment F
Draft - Guaranteed Tuition
Dr. Creamer
February 19, 2015
DRAFT
The Miami University Tuition Guarantee
January 7, 2015
9. FULL‐TIME/HALF‐TIME STUDENTS
Students in the Miami University Tuition Guarantee program may enroll in as few or as
many hours as they wish according to the University Bulletin. Miami University
encourages students to complete their degree in the shortest time possible and at the
lowest cost possible by not assessing any additional tuition for credit hours taken in
excess of the minimum full-time schedule of 12 credit hours.
Students who take less than the minimum full‐time course load will pay an hourly,
pro‐rated amount based on the full‐time guaranteed cohort rate for 12 credit hours.
10. STUDENTS WHO STOP OUT/WITHDRAW AND RETURN
If a student in the Miami University Tuition Guarantee cohort chooses to stop out,
withdraw, or is judicially suspended from the University for one or more academic
terms, the period covered by the cohort guarantee is not extended and the student is only
assured the standard period associated with the cohort guarantee. The student as a result
will lose the term(s) of eligibility while absent within the 16 term guarantee. When the
student re‐enrolls, if 16 terms have not lapsed since initial enrollment, then the student
is still charged the guaranteed rate based on his or her original cohort. If 16 terms have
passed, then the re‐enrolling student is moved to the next cohort (cohort plus one)
unless it has been more than 20 terms since the initial cohort, then cohort plus two; more
than 24 terms, then cohort plus three; etc. Re‐enrolling students admitted prior to
Summer 2016 will not be in a cohort and therefore, are not part of the Miami University
Tuition Guarantee and will follow the traditional tuition model.
11. PROGRAMS THAT REQUIRE 4+ YEARS
Students in programs that have been identified to the Ohio Board of Regents as
requiring more than 128 hours to complete will automatically receive an additional
17th term of the Tuition Guarantee. These programs currently require between 129 and
133 semester hours but account for a very small percentage of students. If a student
internally transfers to one of these programs from a standard 128 or fewer credit‐hour
program, (s) he will receive the automatic 17th term in the Miami University Tuition
Guarantee.
12. STUDENTS COMPLETING MORE THAN ONE CREDENTIAL
Students may complete as many undergraduate degrees, majors, minors, and/or
certificates as they are able within the 4 years (16 consecutive terms) of the Miami
University Tuition Guarantee.
Students pursuing a baccalaureate and a graduate course credit at the same time or
any time during the period of the guarantee will have both their undergraduate
course credit and their graduate course credit assessed based on the level rate cohort
price but only for the four year period covered by the cohort guarantee. Students
participating in a program designated as a 3+2 undergraduate/graduate program will
continue to pay the level rate cohort price during their Miami University Tuition
Attachment F
Overall Page 63 of 107
Attachment Page 6 of 8
Attachment F
Draft - Guaranteed Tuition
Dr. Creamer
February 19, 2015
DRAFT
The Miami University Tuition Guarantee
January 7, 2015
Guarantee (four years and 16 consecutive terms). Students that require more than
the period of the cohort guarantee to complete the graduate degree component of
the program will pay the applicable graduate tuition associated with their graduate
program once the period of the guarantee expires.
13. STUDENTS GRADUATING IN FEWER THAN 16 TERMS
Students who graduate in fewer than 16 terms will continue to be permitted to enroll
in classes at the initial level‐rate cohort until 16 consecutive terms have passed.
14. STUDENTS WHO REQUIRE MORE THAN THE 4 YEARS (16 CONSECUTIVE TERMS COHORT
PERIOD)
Students who take more than 16 terms to graduate, and are not in a program approved
to require 4+ years, and are not eligible for an exception (defined below) at the end of
their 16th term, will automatically be placed into The Miami University Tuition Guarantee
cohort that went into effect the year after their initial cohort (initial cohort plus one).
The student will remain in that cohort for up to four additional terms and if still enrolled
after that will be placed into the next cohort (initial cohort plus two) for the next four
terms, etc. until the student is no longer enrolled.
15. EXCEPTIONS FOR STUDENTS WHO REQUIRE MORE THAN 16 TERMS
There will be some students who require more than 16 terms to graduate due to
circumstances beyond their control. Each case will need to be evaluated on its own
merit to determine if and for how long the cohort pricing should be extended.
A Miami University Tuition Guarantee Appeals Committee will be established to
evaluate requests for an exception. In most cases the appeal to be granted must fall
within extenuating circumstances already established by the Financial Appeals
Committee and described below.
If the Guarantee Appeals Committee finds that the student through no fault of their
own could not complete the program in four years due to a lack of classes or space in
classes provided by the university, Miami University will provide the necessary course
or courses for completion to the student free of charge.
A student called to active duty will be given an automatic extension of the Guarantee
based upon the number of terms impacted by his/her requirement to serve.
Other examples of the types of cases that will be considered for an extension beyond
the four year Miami University Tuition Guarantee depending on the validity and impact of
the circumstances are:
• REASONABLE ACCOMMODATION FOR DISABILITY
• MEDICAL CONDITION
Attachment F
Overall Page 64 of 107
Attachment Page 7 of 8
Attachment F
Draft - Guaranteed Tuition
Dr. Creamer
February 19, 2015
DRAFT
The Miami University Tuition Guarantee
January 7, 2015
If the Guarantee Appeals Committee finds that the student having provided sufficient
documentation of extenuating circumstances outside the control of the student that
prevented the student from completing the student’s program of study during the
cohort period due to one of the circumstances listed above or in other situations
deemed appropriate and consistent with past decisions made by the committee, the
committee will determine an appropriate period of time to extend the tuition
guarantee.
Attachment F
Overall Page 65 of 107
Attachment Page 8 of 8
Attachment G
February 19, 2015
Forward Agenda
DRAFT
Forward Twelve Month Agenda
February
April
Winter
Spring
Meeting Meeting
Agenda Item
Committee Structure:
 Committee Priority Agenda
 Committee Self-Assessment
x
Strategic Matters and Significant Topics Affecting Miami:
 Update on Strategic Priorities
- Progress Toward Goals
- New Revenue Development Reports by Academic Leaders
 Annual Campaign Update
 Annual Report on the State of IT
 Health Benefit Strategic Indicators
Guarnteed Tuition Program
x
x
September
Beginning of December
Year
Fall
Meeting
Meeting
x
x
x
x
x
Regular Agenda Items:
 Enrollment Report
 Report on Year-to-Date Operating Results
 Approval of Minutes of Previous Meeting
 Annual Report on Operating Results
Finance and Accounting Agenda:
 Budget Planning for New Year
 Appropriation Ordinance (Budget)
 Tuition and Fee Ordinance
 Miscellaneous Fee Ordinance
 Room and Board Ordinance
 Review of Financial Statements
 Annual State of Ohio Fiscal Watch Report
 PMBA Tuition Proposal
 Regional Campuses Budget Plan
 Update the 10-Year Budget Plan--Enrollment Changes and Productivity Expectations
Audit and Compliance Agenda:
Planning Meeting with Independent Auditors
 Management Letter and Other Required Communications
 Annual Planning Meeting with Internal Auditor
 Annual Report by Internal Auditor
 Annual Compliance Report
 Risk Assessment Report
Attachment G
x
June
End of
Year
Meeting
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
Overall Page 66 of 107
Attachment Page 1 of 2
Attachment G
February 19, 2015
Forward Agenda
DRAFT
Forward Twelve Month Agenda
February
April
Winter
Spring
Meeting Meeting
Agenda Item
Investment Agenda:
 Semi-Annual Review of Investment Performance
 Non-Endowment Return Objectives
September
Beginning of December
Year
Fall
Meeting
Meeting
x
x
x
Facilities Agenda:
 Approval of Six-Year Capital Plan (every other year)
 Facilities Condition Report
 Annual Report of Gift-Funded Projects
 Status of Capital Projects
x
x
Routine Reports:
 University Advancement Update
 Cash and Investments Report
 Financial Ratios
 Lean Project Summary
Attachment G
June
End of
Year
Meeting
Overall Page 67 of 107
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
Attachment Page 2 of 2
Attachment H
Higher Education Funding
Dr. Creamer
Attachment H
Overall Page 68 of 107
February 19, 2015
Attachment Page 1 of 7
Attachment H
Higher Education Funding
Dr. Creamer
Attachment H
Overall Page 69 of 107
February 19, 2015
Attachment Page 2 of 7
Attachment H
Higher Education Funding
Dr. Creamer
Attachment H
Overall Page 70 of 107
February 19, 2015
Attachment Page 3 of 7
Attachment H
Higher Education Funding
Dr. Creamer
Attachment H
Overall Page 71 of 107
February 19, 2015
Attachment Page 4 of 7
Higher Education Funding
Dr. Creamer
Attachment H
Financial Performance Measure
FTE
Net Tuition as % of Total Revenue
2008 Endowment Funds ($000)
2013 Endowment Funds ($000)
2014 Endowment Funds ($000s)
2008 to 2014 Change in Market Value (%)
2013 to 2014 Change in Market Value (%)
Estimated Endowment Spending (4.5%)
Endowment Spending per FTE
State Appropriation per FTE
Net Tuition per FTE
Total Spending per FTE
Endowment per FTE % of Total
State Appropriation per FTE % of Total
Net Tuition per FTE % of Total
Attachment H
Miami
University
17,652
51.0%
404,674
416,658
464,385
14.8%
11.5%
20,897,325
1,184
3,136
14,803
19,124
6%
16%
77%
Average for
Public
Institutions
36,266
28.3%
1,269,340
1,464,751
1,727,783
47.8%
16.0%
77,750,246
1,820
6,618
10,383
18,822
8%
35%
57%
February 19, 2015
Miami University Miami University
Compared to
Average for
Compared to
Provate
Public Institution Private Institution
Average
Institutions
Average
10,204
(18,614)
7,448
15.7%
23%
35%
2,550,188
(864,666)
(2,145,514)
2,776,115
(1,048,093)
(2,359,457)
3,197,345
(1,263,398)
(2,732,960)
25.2%
-33%
-10%
14.9%
-4.4%
-3.4%
143,880,536
(56,852,921)
(122,983,211)
11,933
(636)
(10,749)
(3,482)
3,136
6,527
4,420
8,277
18,459
302
664
49%
-2%
-43%
0%
-18%
16%
51%
21%
26%
Overall Page 72 of 107
Attachment Page 5 of 7
Higher Education Funding
Dr. Creamer
Attachment H
A
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
Public Institutions
University of Texas System
Texas A & M University-College Station
University of Michigan-Ann Arbor
University of Califormia System
University of Virginia-Main Campus
University of Illinois System
Ohio State University-Main Campus
University of Pittsburgh-Pittsburgh Campus
Pennsylvania State University System
University of Minnesota-Twin Cities
University of Washington-Seattle Campus
University of North Carolina at Chapel Hill
Michigan State University
Purdue University-Main Campus
University of Wisconsin System
Indiana University-Bloomington
Georgia Institute of Technology-Main Campus
University of Nebraska-Lincoln
University of Florida
Virginia Commonwealth University
University of Oklahoma Norman Campus
University of Kansas
University of Missouri-Columbia
University of Delaware
Oklahoma State University-Main Campus
University of Iowa
The University of Alabama
University of Maryland-College Park
Texas Tech University
University of Cincinnati-Main Campus
University of Kentucky
University of Colorado System
University of Georgia
Rutgers University-New Brunswick
North Carolina State University at Raleigh
University of Louisville
Washington State University
University of Utah
Virginia Polytechnic Institute and State University
University of Houston
Louisiana State University and Agricultural & Mechanical College
Iowa State University
University of Arizona
University of Massachusetts Amherst
University of New Hampshire-Main Campus
University of Oregon
Arizona State University
University at Buffalo
Florida State University
Auburn University
University of South Carolina-Columbia
West Virginia University
Ohio University-Main Campus
Oregon State University
Attachment H
B
State
TX
TX
MI
CA
VA
IL
OH
PA
PA
MN
WA
NC
MI
IN
WI
IN
GA
NE
FL
VA
OK
KS
MO
DE
OK
IA
AL
MD
TX
OH
KY
CO
GA
NJ
NC
KY
WA
UT
VA
TX
LA
IA
AZ
MA
NH
OR
AZ
NY
FL
AL
SC
WV
OH
OR
C
FTE
######
44,937
46,931
######
24,116
77,086
69,248
29,162
79,249
43,279
45,210
28,300
43,259
40,313
62,331
42,314
21,593
21,477
47,877
28,712
22,875
25,742
30,013
21,654
21,237
26,962
30,022
35,946
28,961
30,217
26,546
46,881
35,019
39,322
30,920
19,570
27,363
28,732
31,303
33,490
28,621
27,918
36,777
27,342
15,041
24,042
66,224
27,404
39,762
23,884
30,503
29,453
26,477
22,990
D
Total Revenue
4,098,932,445
2,423,872,284
5,485,099,000
19,921,822,000
2,605,961,861
4,930,508,535
4,790,076,150
1,795,921,882
4,510,614,000
2,859,791,803
3,983,779,309
2,654,573,730
1,918,265,129
1,690,404,930
3,149,579,530
1,451,211,525
1,338,211,498
947,092,851
2,333,401,000
964,979,688
861,747,000
1,161,883,969
1,981,169,735
812,331,127
816,983,389
2,794,625,000
1,022,461,971
1,660,235,070
776,376,307
990,173,250
2,425,380,759
2,645,265,462
1,287,209,832
2,003,309,000
1,323,097,629
799,180,000
933,719,233
3,374,888,000
1,206,088,902
967,005,917
1,059,425,860
1,053,838,941
1,684,756,000
1,020,503,000
544,505,015
776,092,601
1,736,054,000
942,772,568
1,013,993,425
870,593,406
857,374,950
1,028,407,768
591,643,915
819,971,836
E
State
Appropriation
606,122,041
433,859,306
268,804,000
1,908,205,000
131,581,036
502,591,117
405,330,442
137,649,298
247,745,000
515,075,198
218,342,921
486,492,294
241,120,800
302,298,674
452,765,169
210,876,779
206,511,431
242,491,101
527,880,000
181,662,361
144,183,000
246,737,480
202,775,718
116,316,304
219,422,211
218,141,000
145,951,239
414,752,096
154,957,944
163,620,603
297,580,100
14,364,415
362,412,399
429,327,000
466,082,225
156,114,000
153,353,614
253,909,000
217,953,213
160,374,820
252,917,491
225,142,946
287,850,000
239,383,000
33,892,501
44,810,301
307,765,000
415,705,211
285,597,961
224,952,740
96,932,270
208,624,516
113,671,943
127,971,128
F
Net Tuition
1,032,226,777
409,810,039
866,224,000
3,103,921,000
400,514,969
961,115,607
752,201,351
301,816,596
1,308,203,000
586,013,628
681,227,364
320,535,342
640,489,833
581,452,557
574,728,804
638,672,230
235,003,328
175,971,644
320,496,000
264,342,415
227,472,000
249,767,082
278,532,096
248,658,216
206,994,923
357,076,000
348,544,084
396,138,143
251,768,837
348,714,387
244,682,452
672,976,030
336,782,523
645,328,000
217,985,451
182,902,000
252,694,580
263,631,000
337,533,988
325,389,562
228,699,791
249,646,862
410,507,000
301,888,000
177,550,653
324,442,075
757,217,000
195,521,209
199,964,139
293,827,903
300,058,322
321,905,844
262,847,023
202,573,097
G
Net
Tuition
as % of
Total
Revenue
25.2%
16.9%
15.8%
15.6%
15.4%
19.5%
15.7%
16.8%
29.0%
20.5%
17.1%
12.1%
33.4%
34.4%
18.2%
44.0%
17.6%
18.6%
13.7%
27.4%
26.4%
21.5%
14.1%
30.6%
25.3%
12.8%
34.1%
23.9%
32.4%
35.2%
10.1%
25.4%
26.2%
32.2%
16.5%
22.9%
27.1%
7.8%
28.0%
33.6%
21.6%
23.7%
24.4%
29.6%
32.6%
41.8%
43.6%
20.7%
19.7%
33.8%
35.0%
31.3%
44.4%
24.7%
H
I
2008
Endowment 2013 Endowment
Funds ($000)
Funds ($000)
16,171,184
20,448,313
6,659,352
8,732,010
7,571,902
8,382,311
7,950,665
7,843,705
4,526,211
5,166,660
2,919,934
3,851,898
2,075,853
3,149,169
2,333,602
2,975,896
1,545,314
2,956,803
2,734,926
2,757,476
2,161,438
2,346,693
2,353,191
2,381,151
1,632,996
1,997,985
1,735,660
2,182,171
1,735,456
2,020,019
1,546,469
1,735,086
NA
1,714,876
1,221,331
1,338,728
1,250,603
1,359,643
330,482
1,326,915
1,053,596
1,324,313
1,217,919
1,288,995
1,024,892
1,259,738
1,340,145
1,171,166
1,009,151
1,142,925
935,453
1,094,803
997,956
1,054,890
1,067,420
1,114,913
792,782
963,585
1,099,127
1,045,606
908,654
995,295
720,711
885,536
592,593
786,171
639,737
783,492
544,551
769,404
783,345
788,529
678,553
777,628
594,564
745,553
527,629
660,340
671,703
717,002
721,121
721,198
560,617
673,515
518,709
611,746
390,775
664,240
NA
540,992
470,515
558,437
493,015
552,789
213,321
554,392
570,730
548,095
423,412
522,145
425,151
544,399
432,697
460,640
312,036
446,748
428,383
443,826
Overall Page 73 of 107
February 19, 2015
J
K
L
M
N
O
P
2008 to 2013 to
2014
2014
2014
Estimated
Endowment
State
Net
Endowment Change in Change
Market in Market
Spending per Appropriation Tuition per
Endowment
Funds
($000s)
Value (%) Value (%) Spending (4.5%)
FTE
per FTE
FTE
25,425,922 57.2%
24.3
6,851
1,144,166,490
7,594
4,023
11,103,880 66.7%
27.2
9,120
499,674,600
11,119
9,655
9,731,460 28.5%
16.1
18,457
437,915,700
9,331
5,728
9,268,004 18.2%
16.6
12,949
417,060,180
1,740
7,961
5,945,952 31.4%
15.1
16,608
267,567,840
11,095
5,456
4,555,864 56.0%
18.3
12,468
205,013,880
2,660
6,520
3,547,566 70.9%
12.7
10,862
159,640,470
2,305
5,853
3,492,839 49.7%
17.4
10,350
157,177,755
5,390
4,720
3,445,965 123.0%
16.5
16,508
155,068,425
1,957
3,126
3,164,792 15.7%
14.8
13,540
142,415,640
3,291
11,901
2,832,753 31.1%
20.7
15,068
127,473,885
2,820
4,830
2,695,663 14.6%
13.2
11,326
121,304,835
4,286
17,191
2,548,913 56.1%
14,806
21.6
114,701,085
2,651
5,574
2,443,494 40.8%
12.0
14,423
109,957,230
2,728
7,499
2,332,185 34.4%
15.5
9,221
104,948,325
1,684
7,264
1,988,336 28.6%
14.6
15,094
89,475,120
2,115
4,984
1,889,014
NA
10.2
10,883
85,005,630
3,937
9,564
1,547,256 26.7%
15.6
8,193
69,626,520
3,242
11,291
1,519,522 21.5%
11.8
6,694
68,378,490
1,428
11,026
1,509,431 356.7%
13.8
9,207
67,924,395
2,366
6,327
1,493,466 41.7%
12.8
9,944
67,205,970
2,938
6,303
1,470,786 20.8%
14.1
9,703
66,185,370
2,571
9,585
1,440,561 40.6%
14.4
9,280
64,825,245
2,160
6,756
1,310,133
-2.2%
11.9
11,483
58,955,985
2,723
5,372
1,271,126 26.0%
26.0
9,747
57,200,670
2,693
10,332
1,251,356 33.8%
14.3
13,244
56,311,020
2,089
8,091
1,234,824 23.7%
17.1
11,610
55,567,080
1,851
4,861
1,228,946 15.1%
15.1
11,020
55,302,570
1,538
11,538
1,195,363 50.8%
24.1
8,693
53,791,335
1,857
5,351
1,183,922
7.7%
13.2
11,540
53,276,490
1,763
5,415
1,136,833 25.1%
14.2
9,217
51,157,485
1,927
11,210
1,063,089 47.5%
20.1
47,839,005
1,020
306
14,355
939,024 58.5%
19.4
9,617
42,256,080
1,207
10,349
918,575 43.6%
17.2
16,411
41,335,875
1,051
10,918
885,055 62.5%
15.0
7,050
39,827,475
1,288
15,074
876,825 11.9%
11.2
9,346
39,457,125
2,016
7,977
868,091 27.9%
11.6
9,235
39,064,095
1,428
5,604
844,761 42.1%
13.3
9,176
38,014,245
1,323
8,837
796,437 50.9%
20.6
10,783
35,839,665
1,145
6,963
789,700 17.6%
10.1
9,716
35,536,500
1,061
4,789
788,020
9.3%
9.3
7,991
35,460,900
1,239
8,837
777,018 38.6%
15.4
8,942
34,965,810
1,252
8,064
760,679 46.6%
24.3
34,230,555
931
7,827
11,162
757,473 93.8%
14.0
11,041
34,086,285
1,247
8,755
661,660
NA
22.3
11,804
29,774,700
1,980
2,253
627,004 33.3%
12.3
13,495
28,215,180
1,174
1,864
625,833 26.9%
13.2
28,162,485
425
4,647
11,434
624,791 192.9%
12.7
7,135
28,115,595
1,026
15,170
624,557
9.4%
14.0
28,105,065
707
7,183
5,029
621,106 46.7%
19.0
12,302
27,949,770
1,170
9,419
596,379 40.3%
9.5
26,837,055
880
3,178
9,837
533,627 23.3%
15.8
24,013,215
815
7,083
10,929
515,913 65.3%
15.5
23,216,085
877
4,293
9,927
511,427 19.4%
15.2
8,811
23,014,215
1,001
5,566
Q
R
Total
Spending
per FTE
18,467
29,894
33,516
22,650
33,159
21,648
19,021
20,460
21,590
28,732
22,717
32,803
23,031
24,650
18,168
22,192
24,384
22,726
19,148
17,899
19,185
21,859
18,197
19,577
22,772
23,423
18,322
24,097
15,901
18,718
22,354
15,682
21,173
28,381
23,412
19,339
16,267
19,336
18,890
15,566
18,066
18,259
19,920
21,043
16,037
16,532
16,507
23,330
12,919
22,891
13,895
18,828
15,097
15,379
Endowment
per FTE % of
Total
41%
37%
28%
8%
33%
12%
12%
26%
9%
11%
12%
13%
12%
11%
9%
10%
16%
14%
7%
13%
15%
12%
12%
14%
12%
9%
10%
6%
12%
9%
9%
7%
6%
4%
6%
10%
9%
7%
6%
7%
7%
7%
5%
6%
12%
7%
3%
4%
5%
5%
6%
4%
6%
7%
S
T
State
Net
Appropriation Tuition
per FTE % of per FTE %
Total
of Total
22%
37%
32%
31%
17%
55%
35%
57%
16%
50%
30%
58%
31%
57%
23%
51%
14%
76%
41%
47%
21%
66%
52%
35%
24%
64%
30%
59%
40%
51%
22%
68%
39%
45%
50%
36%
58%
35%
35%
51%
33%
52%
44%
44%
37%
51%
27%
59%
45%
43%
35%
57%
27%
63%
48%
46%
34%
55%
29%
62%
50%
41%
2%
92%
49%
45%
38%
58%
64%
30%
41%
48%
34%
57%
46%
47%
37%
57%
31%
62%
49%
44%
44%
49%
39%
56%
42%
52%
14%
74%
11%
82%
28%
69%
65%
31%
56%
39%
41%
54%
23%
71%
38%
58%
28%
66%
36%
57%
Attachment Page 6 of 7
Higher Education Funding
Dr. Creamer
Attachment H
A
1
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
83
84
85
86
87
Public Institutions
Kansas State University
Miami University-Oxford
University of South Florida-Main Campus
University of Toledo
University of Vermont
University of Connecticut
Temple University
Western Michigan University
Wayne State University
Colorado State University-Fort Collins
University of Nevada-Las Vegas
University of Akron Main Campus
San Diego State University
Florida International University
Texas State University-San Marcos
University of Central Florida
Kent State University at Kent
University of North Texas
Georgia State University
San Jose State University
Central Michigan University
Grand Valley State University
California State University-Northridge
George Mason University
Eastern Michigan University
San Francisco State University
Private Institutions
University of Notre Dame
Vanderbuilt Uinversity
University of Dayton
Xavier University
Attachment H
B
C
D
State
KS
OH
FL
OH
VT
CT
PA
MI
MI
CO
NV
OH
CA
FL
TX
FL
OH
TX
GA
CA
MI
MI
CA
VA
MI
CA
FTE
20,907
17,652
36,069
20,266
12,407
23,907
33,618
21,486
26,277
26,488
24,567
23,707
27,168
41,620
32,622
51,477
25,891
31,723
31,134
23,504
23,832
22,209
28,071
26,816
18,458
24,391
Total Revenue
750,155,026
512,731,281
1,046,530,803
864,589,005
578,354,000
1,993,016,354
2,253,425,000
563,659,634
836,697,643
960,117,690
509,984,000
506,166,421
523,390,423
783,954,565
520,411,021
826,287,792
492,399,987
581,694,282
612,219,312
393,937,507
433,529,773
403,208,508
457,698,935
718,814,638
344,858,149
466,242,212
IN
TN
OH
OH
12,606
11,729
10,098
6,382
970,498,000
3,614,842,330
381,414,000
159,813,904
E
F
State
Appropriation
161,545,041
55,365,104
292,638,553
104,216,965
41,896,000
485,366,737
132,921,000
93,168,300
182,034,292
2,450,000
149,310,000
96,758,584
125,367,062
195,097,841
120,158,575
245,358,947
93,985,509
123,769,550
164,945,293
94,372,429
68,128,993
52,677,400
123,311,571
104,369,828
64,619,095
105,456,272
-
Net Tuition
183,329,020
261,306,907
193,546,207
215,941,902
261,770,000
264,762,518
545,327,000
219,868,984
231,319,197
285,492,411
159,960,000
228,828,084
179,172,187
198,058,478
195,177,839
241,615,575
228,075,934
223,917,517
214,959,743
180,392,605
215,146,959
213,151,265
168,381,087
270,868,475
167,354,051
164,873,751
59,681,000
50,870,225
95,697,000
48,233,688
G
Net
Tuition
as % of
Total
Revenue
24.4%
51.0%
18.5%
25.0%
45.3%
13.3%
24.2%
39.0%
27.6%
29.7%
31.4%
45.2%
34.2%
25.3%
37.5%
29.2%
46.3%
38.5%
35.1%
45.8%
49.6%
52.9%
36.8%
37.7%
48.5%
35.4%
6.1%
1.4%
25.1%
30.2%
H
I
2008
Endowment 2013 Endowment
Funds ($000)
Funds ($000)
337,187
364,676
404,674
416,658
360,035
363,924
175,578
355,943
NA
374,316
328,133
344,174
237,012
323,837
187,997
262,300
241,427
276,234
183,442
245,887
130,158
200,026
178,278
184,451
NA
158,406
97,063
149,384
NA
138,736
114,990
135,475
129,526
133,093
94,922
122,369
98,634
118,825
50,108
99,869
76,740
92,257
62,895
87,628
55,379
72,449
53,327
59,261
45,247
57,214
47,179
55,210
6,225,688
3,459,439
391,101
124,523
6,856,301
3,673,434
442,252
132,471
Overall Page 74 of 107
February 19, 2015
J
K
L
M
N
O
P
2008 to 2013 to
2014
2014
2014
Estimated
Endowment
State
Net
Endowment Change in Change
Market in Market
Spending per Appropriation Tuition per
Endowment
Funds
($000s)
Value (%) Value (%) Spending (4.5%)
FTE
per FTE
FTE
473,987 40.6%
30.0
8,769
21,329,415
1,020
7,727
464,385 14.8%
11.5
14,803
20,897,325
1,184
3,136
417,335 15.9%
14.7
18,780,075
521
8,113
5,366
416,153 137.0%
16.9
18,726,885
924
5,142
10,655
394,454
NA
5.4
21,099
17,750,430
1,431
3,377
383,866 17.0%
11.5
17,273,970
723
20,302
11,075
374,758 58.1%
15.7
16,864,110
502
3,954
16,221
319,997 70.2%
22.0
14,399,865
670
4,336
10,233
311,337 29.0%
12.7
14,010,165
533
6,928
8,803
284,495 55.1%
15.7
12,802,275
483
92
10,778
227,936 75.1%
14.0
10,257,120
418
6,078
6,511
211,787 18.8%
14.8
9,530,415
402
4,081
9,652
190,608
NA
20.3
8,577,360
316
4,615
6,595
176,500 81.8%
18.2
7,942,500
191
4,688
4,759
161,264
NA
16.2
7,256,880
222
3,683
5,983
154,595 34.4%
14.1
6,956,775
135
4,766
4,694
150,222
12.9
16.0%
6,759,990
261
3,630
8,809
143,486 51.2%
17.3
6,456,870
204
3,902
7,059
133,296 35.1%
12.2
5,998,320
193
5,298
6,904
119,265 138.0%
19.4
5,366,925
228
4,015
7,675
107,871 40.6%
16.9
4,854,195
204
2,859
9,028
103,153 64.0%
17.7
4,641,885
209
2,372
9,598
87,498 58.0%
20.8
3,937,410
140
4,393
5,998
69,554 30.4%
17.4
3,129,930
117
3,892
10,101
66,301 46.5%
15.9
2,983,545
162
3,501
9,067
65,385 38.6%
18.4
2,942,325
121
4,324
6,760
8,039,756
4,086,040
510,107
153,478
29.1%
18.1%
30.4%
23.3%
17.3
11.2
15.3
15.9
361,789,020
183,871,800
22,954,815
6,906,510
28,700
15,677
2,273
1,082
-
4,734
4,337
9,477
7,558
Q
R
Total
Spending
per FTE
17,516
19,124
14,000
16,722
25,906
32,100
20,677
15,240
16,264
11,354
13,006
14,136
11,525
9,637
9,889
9,595
12,700
11,164
12,395
11,918
12,090
12,178
10,532
14,110
12,729
11,204
Endowment
per FTE % of
Total
6%
6%
4%
6%
6%
2%
2%
4%
3%
4%
3%
3%
3%
2%
2%
1%
2%
2%
2%
2%
2%
2%
1%
1%
1%
1%
33,434
20,014
11,750
8,640
86%
78%
19%
13%
S
T
State
Net
Appropriation Tuition
per FTE % of per FTE %
Total
of Total
44%
50%
16%
77%
58%
38%
31%
64%
13%
81%
63%
35%
19%
78%
28%
67%
43%
54%
1%
95%
47%
50%
29%
68%
40%
57%
49%
49%
37%
61%
50%
49%
29%
69%
35%
63%
43%
56%
34%
64%
24%
75%
19%
79%
42%
57%
28%
72%
28%
71%
39%
60%
0%
0%
0%
0%
14%
22%
81%
87%
Attachment Page 7 of 7
Attachment I
Advancement Update
VP Herbert
February 19, 2015
Reporting Updates
Item 1
University Advancement Report
Tom Herbert, J.D.
Vice President, University Advancement
Executive Director, Miami University
Foundation
Attachment I
Overall Page 75 of 107
Attachment Page 1 of 24
Attachment I
Advancement Update
VP Herbert
February 19, 2015
Topics
• 2020 Plan Fundraising Update
• FY’14 Performance and FY’15 to date
• Fundraising focus in FY’15
• Update on Advancement Initiatives
Attachment I
Overall Page 76 of 107
Attachment Page 2 of 24
Attachment I
Advancement Update
VP Herbert
February 19, 2015
2020 Plan Fundraising Update
Attachment I
Overall Page 77 of 107
Attachment Page 3 of 24
Advancement Update
VP Herbert
Attachment I
February 19, 2015
Post-Campaign Development Targets
$70,000,000
$65,000,000
$65,800,000
$60,000,000
$59,900,000
FY Goals
$55,000,000
$54,400,000
$50,000,000
$49,500,000
$45,000,000
$45,000,000
$40,000,000
$40,900,000
$37,200,000
$35,000,000
$33,800,000
$30,000,000
FY13
FY14
FY15
FY16
FY17
FY18
FY19
FY20
Based on Miami’s 2020 Plan
Attachment I
Overall Page 78 of 107
Attachment Page 4 of 24
Attachment I
Advancement Update
VP Herbert
February 19, 2015
2020 Plan Fundraising Update
FY2015 – July 1-Dec 31
• Goal: $40,900,000
• Raised to date: $37,875,000 (93% of goal)
FY14 to date: $33,500,000 (90% of FY14 goal)
Attachment I
Overall Page 79 of 107
Attachment Page 5 of 24
Advancement Update
VP Herbert
Attachment I
February 19, 2015
FY’15 - Fundraising Update
$45,000,000
$40,000,000
$35,000,000
$30,000,000
$25,000,000
$20,000,000
$15,000,000
$10,000,000
$5,000,000
$-
FY15 goal
Attachment I
Overall Page 80 of 107
Amount booked
Attachment Page 6 of 24
Attachment I
Advancement Update
VP Herbert
February 19, 2015
Fiscal Year Performance
Attachment I
Overall Page 81 of 107
Attachment Page 7 of 24
Advancement Update
VP Herbert
Attachment I
February 19, 2015
FY Cash Received
FY15 to date
FY14 to date
FY14 total
3-year avg
$26.9M
$25.4M
$34.3M
$34.5M
Attachment I
Overall Page 82 of 107
Attachment Page 8 of 24
Advancement Update
VP Herbert
Attachment I
February 19, 2015
FY Cash to Annual Fund
FY15 to date
FY14 to date
FY14 total
3-year avg
$2.62M
$2.58M
$4.16M
$3.77M
Attachment I
Overall Page 83 of 107
Attachment Page 9 of 24
Advancement Update
VP Herbert
Attachment I
February 19, 2015
FY Alumni Participation
FY12 total
FY13 total
FY14 total
3-year avg
18.0%
20.0%
20.6%
19.5%
Attachment I
Overall Page 84 of 107
Attachment Page 10 of 24
Attachment I
Advancement Update
VP Herbert
February 19, 2015
FY Planned Giving Commitments
FY15 to date
85 for $19.9M
Attachment I
FY14 to date
93 for $18.6M
Overall Page 85 of 107
FY14 total
125 for $21.9M
Attachment Page 11 of 24
Attachment I
Advancement Update
VP Herbert
February 19, 2015
Fundraising Focus FY’15
Attachment I
Overall Page 86 of 107
Attachment Page 12 of 24
Advancement Update
VP Herbert
Attachment I
February 19, 2015
Miami Promise Scholarship
Campaign
Attachment I
•
Publicly Launched this Fall
•
$100 million goal over 5 years – double what we
raised over the last 4 years
•
Matching programs developed
•
Scholarship stewardship upgraded
Overall Page 87 of 107
Attachment Page 13 of 24
Attachment I
Advancement Update
VP Herbert
February 19, 2015
Campaign for Intercollegiate Athletics
• $80 million campaign to be publicly announced
in Spring 2015
• Silent phase to date: raised approx. $35 million
• Advancement now developing campaign
branding and materials
Attachment I
Overall Page 88 of 107
Attachment Page 14 of 24
Advancement Update
VP Herbert
Attachment I
February 19, 2015
Armstrong Student Center East Wing
•
Fundraising Target is $8 million for East Wing
•
$2.8 million raised
•
Approaching identified prospects
•
Attachment I
Hosting small events to promote giving opportunities
Overall Page 89 of 107
Attachment Page 15 of 24
Advancement Update
VP Herbert
Attachment I
February 19, 2015
Faculty Support
•
Attachment I
In transition during the provost search
Overall Page 90 of 107
Attachment Page 16 of 24
Attachment I
Advancement Update
VP Herbert
February 19, 2015
Update on Advancement Initiatives
Attachment I
Overall Page 91 of 107
Attachment Page 17 of 24
Advancement Update
VP Herbert
Attachment I
February 19, 2015
Update on Advancement Initiatives
• Enhanced Stewardship
- completed
• Enhanced Alumni Programming
- ongoing
• Foundation Board Development
- ongoing
Attachment I
Overall Page 92 of 107
Attachment Page 18 of 24
Advancement Update
VP Herbert
Attachment I
February 19, 2015
Update on Advancement Initiatives
• Enhanced Parent Programming
- completed
• Advance M.I.A.M.I. Women Initiative
- completed
• Annual Fund Matching Program
- completed
• Advancement LEAN projects
- ongoing
Attachment I
Overall Page 93 of 107
Attachment Page 19 of 24
Advancement Update
VP Herbert
Attachment I
February 19, 2015
Advancement Initiatives
Enhanced Alumni Programming
Attachment I
•
Exploring partnership to create “Alumni AP”
•
Expanding alumni education by creating and
distributing podcasts with popular faculty
•
Eliminate the dues program to expand
“association programming” to all alumni donors
Overall Page 94 of 107
Attachment Page 20 of 24
Advancement Update
VP Herbert
Attachment I
February 19, 2015
Advancement Initiatives
Foundation Board Development
•
Welcomed four new members this Fall
•
Direct involvement continually enhanced
•
•
•
•
Attachment I
Orientation process revamped and improved
Prospect reviews
Lifetime Giving Societies development
M.I.A.M.I. Women Initiative development
Overall Page 95 of 107
Attachment Page 21 of 24
Advancement Update
VP Herbert
Attachment I
February 19, 2015
Advancement Initiatives
Lean Projects – five completed
•
•
•
•
•
Attachment I
Data Integrity upgrades
Direct Mail coordination streamlined
Corporate and Foundation collaborations enhanced
MUAA Membership Program reviewed
Matching Gifts system upgraded
Overall Page 96 of 107
Attachment Page 22 of 24
Advancement Update
VP Herbert
Attachment I
February 19, 2015
Advancement Awards
CASE Circle of Excellence (national)
• 18 of the Last 9
– Best Alumni Programming (Silver)
Pride of CASE V (regional)
• Day Without Donors
– Best Collaborative Program (Gold)
– Best Recognition/Stewardship (Hon. Mention)
• MIAMI Women Inaugural Symposium
– Excellence in Special Events (Bronze)
• End of Campaign Giving Tribute
– Best Publication/Cultivation (Hon. Mention)
Attachment I
Overall Page 97 of 107
Attachment Page 23 of 24
Attachment I
Advancement Update
VP Herbert
February 19, 2015
Thank you!
Attachment I
Overall Page 98 of 107
Attachment Page 24 of 24
Attachment J
Enrollment Update
VP Kabbaz
Attachment J
Overall Page 99 of 107
February 19, 2015
Attachment Page 1 of 6
Attachment J
Enrollment Update
VP Kabbaz
Attachment J
Overall Page 100 of 107
February 19, 2015
Attachment Page 2 of 6
Attachment J
Enrollment Update
VP Kabbaz
Attachment J
Overall Page 101 of 107
February 19, 2015
Attachment Page 3 of 6
Attachment J
Enrollment Update
VP Kabbaz
Attachment J
Overall Page 102 of 107
February 19, 2015
Attachment Page 4 of 6
Attachment J
Enrollment Update
VP Kabbaz
Attachment J
Overall Page 103 of 107
February 19, 2015
Attachment Page 5 of 6
Attachment J
Enrollment Update
VP Kabbaz
Attachment J
Overall Page 104 of 107
February 19, 2015
Attachment Page 6 of 6
Lean Projects Update
Al Ryan
Attachment K
MU-Lean Project Status Totals
Division
Finance and Business Services
Procurement Realized*
Intercollegiate Athletics
Advancement
Enrollment
Information Technology Services
Provost
Regionals
Lean Project Total - MU
February 19, 2015
Completed Projects
Active
134
Completed
384
Future
39
Total
557
1
1
15
8
2
1
162
0
6
17
8
0
0
415
0
0
0
0
0
0
39
1
7
32
16
2
1
616
Cost Avoidance Cost Reduction
$8,124,031
$4,366,795
$7,054,595
$2,331,764
$0
$0
$37,000
$213,790
$70,428
$0
$407,163
$0
$0
$0
$0
$0
$15,693,217
$6,912,349
Revenue Generated
$4,878,047
$601,926
$0
$100,000
$37,705
$4,180
$0
$0
$5,621,858
Total
$17,368,873
$9,988,285
$0
$350,790
$108,133
$411,343
$0
$0
$28,227,424
*Procurement Realized through September 30, 2014. Procurement increment reported quarterly- October 2014 through December 2014
MU-Lean Project Changes since 11-04-14 report
Division
Finance and Business Services
Procurement Realized*
Intercollegiate Athletics
Advancement
Enrollment
Information Technology Services
Provost
Regionals
Lean Project Total - MU
Attachment K
Newly Completed Projects since 11-04-14 report
Newly
Active
Newly
Completed
Newly
Future
New Total
5
39
0
44
0
0
3
1
0
-1
8
0
1
6
0
0
0
46
0
0
0
0
0
0
0
0
1
9
1
0
-1
54
New
New
Cost Avoidance Cost Reduction
$384,366
$71,933
$212,574
$211,228
$0
$7,261
$0
$0
$0
$604,201
Overall Page 105 of 107
$30,790
$0
$0
$0
$0
$313,951
New
Revenue Generated
$14,365
$64,954
New
Total
$470,664
$488,756
$0
$0
$0
$0
$0
$79,319
$30,790
$7,261
$0
$0
$0
$997,471
Attachment Page 1 of 1
Internal Audit Update
Barbara Jena
Attachment L
February 19, 2015
Reporting Update
Item 4
To:
Finance and Audit Committee
From:
Barbara K. Jena, Director of Internal Audit and Consulting Services
Subject: Internal Audit & Consulting Services - February 2015 Reporting Update
Date:
January 23, 2015
One high risk audit issue was closed and another added. The PCI audit issue was closed in December
2014. IACS reviewed Miami University's completed Self-Assessment Questionnaire and Attestation of
Compliance and verified that it was completed in its entirety. No exceptions were noted. A new high
risk was added in the IT area concerning information security training. The attached summary provides
an updated status on the three current, high risk open audit issues.
Audit Issue Status
Open audit
issues
11/6/2014
Risk Level
High
3
Added
1
Closed
1
Open audit
issues
1/23/2015
3
Attachment
Cc: David K. Creamer
Attachment L
Overall Page 106 of 107
Attachment Page 1 of 2
Internal Audit Update
Barbara Jena
Attachment L
Line
Audit Name And Date
1 95.1 - Network
Penetration Testing 3/2014
2 94.1 - End User Device
Inventory 4/2014
February 19, 2015
Open Internal Audit Issues
Date
Opened
Date
Due
Risk
Level
Division
Recommendation
Responsible
Person
3/20/2014
7/1/2015 High
IT Services
IACS outsourced a network vulnerability assessment and
penetration test to CBTS. The goal of the assessment was to
identify gaps in controls and defenses that could allow an attacker
to compromise Miami University's systems, expose sensitive data,
and cause damage to the University. One high level
recommendation was to require that all servers be managed by IT
Services and updates pushed from a central location.
Vulnerabilities were categorized as high, medium, or low and
specific recommendations made to address the identified risks.
4/1/2014
9/1/2015 High
IT Services
It is recommended that IT Services explore tracking all Universityowned end user devices. Tracking these devices could reduce or
avoid cost by enabling IT Services to:
Joe Bazeley,
Assistant VP for
Security,
Compliance &
Risk
Management
Raymond
Gorman, Interim
Provost and VP
for Academic
• reduce the risk of copyright infringement as a result of a negative Affairs; Troy
software licensing audit;
Travis, Asst VP
• reduce the risk that devices and any stored data are lost or stolen for Enterprise
with employee turnover;
Operations
• increase the efficiency gained through automation of
deployment;
• improve scheduling for replacement devices; and
• provide management with the data needed to establish a control
limiting the number of devices per employee, if management chose
to implement such a control.
Management Response and Status
In a 1/2015 update, Joe Bazeley stated that 52 of 85 high and/or
critical vulnerabilities identified by CBTS have been resolved. We have
also discovered additional servers, workstations, network devices, or
other equipment with high and/or critical vulnerabilities; as of
1/22/2015, 290 of the new items have been corrected and 424 are in
process of being remediated. The original target date for resolving all
high and critical vulnerabilities was December 31, 2014. There were
delays in getting the scanning tool operational, and there have been
delays associated with finding times when production and studentfacing systems can be brought offline to apply patches. Also, the
overall scope has increased as we are now identifying new
vulnerabilities on servers, workstations, network devices, or other
equipment. The new target date is March 15, 2015. It is likely that the
(June 2015) date for resolving all medium vulnerabilities will also slip,
as those remediation efforts have not yet started. The scanning
process to identify new vulnerabilities is in place and operational. In
addition to that finding, CBTS had 8 other findings. Of those, 3 are
resolved, 2 are in process, and 3 are risks that we do not agree are
actually risks in our environment.
In a 1/2015 status update, Troy Travis stated, "A LEAN project has
been initiated with inter-departmental representation from Academic
Directors of Technology, Accounting and IT Services personnel. An
initial charter has been created, a LEAN current state analysis is being
initiated and the project is sourced with available resources in
conjunction with University priorities. Identification of business
process owners is underway and the project team is reaching out to
include Purchasing, HDBRS and ICA. Solutions will be evaluated and
recommended against business processes and costs to evaluate return
on investment."
The due date was updated from 8/29/2014 to 9/1/2015. Troy stated,
"This is the date that we expect completion of a solution
recommendation to evaluate return on investment and projected
implementation timeline."
At their 6/2014 Finance and Audit Committee meeting, the Board
directed IT Services and Academic Affairs to implement internal
control of University-owned end user devices.
3 117.1 - Securing
Confidential
Information-Procedure
Review- 1/2015
1/16/2015
2/28/2015 High
IT Services
It is recommended that IT Services work with Human Resources
and Academic Personnel management to:
• require that all new employees (including students) receive
appropriate training regarding Miami's information security
practices;
• require that all employees (including students) receive
appropriate updates on information security annually;
• provide appropriate employees with clear documentation
detailing the approved mediums for communicating Personally
Identifiable Information; and,
• establish procedures to hold employees who have received
training accountable by receiving appropriate disciplinary action for
violating Miami's information security practices.
Joe Bazeley,
Assistant VP for
Security,
Compliance &
Risk
Management
In his 1/2015 response, Joe Bazeley stated, "Management agrees with
the finding. Performing the first 3 recommended security training
actions will require additional funding, while the 4th should not. Joe
Bazeley will generate a list of options with associated costs for
performing the first 3 recommended actions by the end of February
2015. IT Services did not budget for any of these expenses, and they
will likely be annual expenses."
2
Attachment L
Overall Page 107 of 107
Attachment Page 2 of 2
Was this manual useful for you? yes no
Thank you for your participation!

* Your assessment is very important for improving the work of artificial intelligence, which forms the content of this project

Download PDF

advertisement