To help explain Saint Louis University’s financial outlook, Vice President of Business and Finance Rob Altholz and Provost Sandra Johnson outlined the FY 2001 General Fund Budget at Tuesday’s Faculty Senate meeting, held on the Health Sciences Center.
Johnson and Altholz’s presentation touched two issues: The current FY 2000 year-end projections and the FY 2001 operating budget, which excludes Project SLU2000. Both shed light on the principles underlying the budget.
The current FY 2000 year-end forecast anticipates operating expenses of $190,616,000 and total operating revenues of $191,978,000 which leaves the University a surplus of $1,362,000. FY 2000 ends in June 2000.
Reasons for the nearly $1.4 million excess range from underspending in athletics, the School of Business and Administration and the Graduate School, to full-time and Health Science Center endowment underspending.
The FY 2001 budget allows for total operating revenues of $202,781,000, as compared to the FY 2000 year-end forecasted amount of $191,978,000. The FY 2001 general fund budget-only part of the entire University budget-is generated from projections of enrollment, academic revenues and financial aid among others. These estimates were based on historical data and statistics, as well as input from relevant groups across the University, such as the academic deans.
“The development of the University’s education and related activities operating budget, which totaled approximately $250 million in FY 1999, is developed beginning in September for the subsequent fiscal year,” Altholz stated.
The majority of the time and work in developing the budget occurs during a three-month period ending in December when the Board of Trustees approves major elements of the budget, including tuition, room and board rates, increased scholarship funding and overall salary increase rates.
“Formal processes have been established to obtain all of the data necessary to submit a `balanced budget’ to the trustees,” Altholz stated. “A great deal of important information, studies, projections and funding requests are produced by all of the University divisions.”
The President’s Coordinating Council-consisting of vice presidents and representatives from the students, faculty and staff-and academic deans discuss major budget decisions in November before making recommendations to University President Lawrence Biondi, S.J. The budget is then proposed to the Board of Trustees for ultimate approval.
This year marked the return of the Budget Development Advisory Committee, a group comprised of representatives from the Faculty Senate, the Student Government Association, the Staff Advisory Committee and academic deans.
“Broad, wide input in the development of the University’s annual operating budget is critical because that document ultimately reflects the University community’s collective wisdom regarding the optimal allocation of its finite resources,” Altholz stated.
Faculty Senate President John Slosar said, “It’s a reasonable budget, given the restrictions.”
Other Business
The Faculty Senate also discussed the issue of revising the faculty manual, as well as creating a larger presence among the entire faculty. Possibilities included forming a discussion bulletin board for faculty issues.
“This year so far has been a year of rebuilding for us,” Slosar said. “How can we be a better, more efficient Faculty Senate?”
The senate established, on a recommendation by Dr. Richard Breslin, a committee to address the issue of improving communication between the Executive Committee of the Faculty Senate, the Faculty Senate and the entire SLU faculty.
