UNIVERSITY OF ILLINOIS URBANA-CHAMPAIGN CHICAGO SPRINGFIELD

Transcription

1 FINANCIAL REPORT UNIVERSITY OF ILLINOIS URBANA-CHAMPAIGN CHICAGO SPRINGFIELD BOARD OF TRUSTEES January 21, 2016

2 Since November BOT Meeting State budget remains at impasse with no FY 2016 University operating, capital or Monetary Award Program appropriations budget timing and amounts remain uncertain FY 2016 unbilled State reimbursement vouchers now exceed $500 million State had $7 billion in unpaid vouchers at January 1, 2016; no payments to State pension funds in November and December State payments for managed care Medicaid claims have slowed, enhanced Medicaid payments and future deposits to the Medicaid Trust Fund are in question Institute of Government & Public Affairs reported the State s economic growth slowed considerably at end of calendar 2015 Fire Training Institute received special revenue funding from the State FY 2015 Financial Audit to be released by the Illinois Auditor General with clean (unmodified) opinion report to Board in March Standard & Poor s affirmed A rating with stable outlook for the medical center Ratings for the AFS financing expected to be affirmed by Moody s Investors Service (Aa3 rating with negative outlook) and Standard & Poor s (AA- rating with negative outlook) 2

3 State Appropriation Revenue Billings and Collections through January 19, 2016 Dollars in Millions $750 $625 $689 $662 $663 Mid Year Reduction $18.4 $662 FY16 appropriation has not been enacted and no billings have been submitted. $671 MAP $31 $689 $662 $663 $500 $644 $375 $250 $125 $0 $571 $241 $330 $564 $62 $502 $609 $ $223 $386 $230 $379 $640 Appropriation Billed Collected Receivable Current/Unbilled Subject to Approp. 3

4 State and Tuition FY 2000 FY 2016 Total Enrollment FY 2000 over 67,000 In Millions Total Enrollment FY 2016 over 80,200 $1,300 $1,200 In Constant estimated 2016 CPI Dollars Tuition $1,174 $1,100 $1,000 $900 $800 $700 $600 $500 General Tax Funds $643 $400 $300 Sources: Budget Summary for Operations. State include GRF and all other state fund appropriations. State for FY02 FY16 exclude $24.9 million for Health Insurance. State Surveys are included in State beginning in FY09. Assumes 2.0% inflation in FY

5 FY 2015 MAP Awards Proprietary & Hospital $15.9 U of I $59.2 Private Non-Profit $148.2 Other Public 4-Year $94.1 Public 2-Year $39.8 $357.2 Million 5

6 Hospital Revenue/Expense/Net Income Fiscal Year 2015 and 2016 through November 30th $400 Dollars in Millions $350 $320.2 $330.1 $337.2 $355.4 $353.6 $353.5 $300 $250 $200 $150 $100 $50 $0 $2.0 $7.7 FY 2015 FY 2016 Budget Revenue Expense Net Income plus Depreciation 6

7 State of Illinois Unfunded Pension Liability As of June 30, 2015 (Dollars in Billions) $120 $100 $80 GARS, $0.27 JRS, $1.48 SURS, $22.09 SERS, $25.48 $60 $40 $20 TRS, $61.71 $0 Using Actuarial Accrued Liability at Market Value. $111.0 Billion Asset/Liability Ratio 41.9% 7

8 Academic Achievement/Student Demand Undergraduate student academic achievement at all three campuses UIC had record enrollment in the current year and 6 year graduation rate improved over 20% over the last 10 years and nearly doubled in the last 25 years UIS undergraduate enrollment has increased over 62% since Fall 2000, leader in on-line programs UIUC had 6 th consecutive year of record enrollment and 6 year graduation rate of 85%, Average ACT score over 29 for freshman class Over 4 applicants for each freshman slot The 3 campuses of the U of I received over 51,400 applications for First-Time Freshmen Graduation rates and other achievement indicators improving at all three campuses Student loan and default rates below national averages 8

9 Diversity of Revenues All Sources of Funds FY 2000 FY 2015 (Dollars in millions) $6,000 $5,250 $4,500 $3,750 $3,000 $2,250 $1,500 $750 $0 Institutional Funds Hospital/MSP Gifts/Grants/Contracts AFMFA Self Supporting Income Fund Payments on Behalf GRF/EAF Sources: Budget Summary for Operations, state payments on behalf, and RAMP. Waivers excluded. FY04 Payments on Behalf excludes one time proceeds from bond sale. GRF for FY02 FY15 exclude $24.9 million for Health Insurance, Payments on Behalf adjusted to include the $24.9 million. 9

10 $1,500 $1,250 $1,000 $750 $500 $250 Total R & D Expenditures FY 2014 (Dollars in Millions) National Ranking $0 Michigan* Wisconsin* UIUC + UIC* Minnesota* Source: NSF; All Fields. * Have medical colleges. OSU* Penn St NW* Rutgers* UIUC Purdue MSU* Maryland* Iowa* U of C* UIC* Nebraska Indiana 10

11 Federal Omnibus Budget Impact on Budget/Research In December, Congress passed an omnibus appropriation package that carries positive news for higher education and research. Below is a recap of some of the major outcomes. Federal Agency/Program FY 2016 Omnibus National Science Foundation (NSF) $7.46 billion +1.6% National Institutes of Health (NIH) $32.1 billion +6.6% Department of Energy (DOE) Office of Science $5.35 billion +5.5% United States Department of Agriculture (USDA) National Institute of Food and Agriculture (NIFA) Agriculture and Food Research Initiative (AFRI) $350 million +7.7% FY 2016 Omnibus vs. FY