Tuition balances carried over from prior fiscal years have been reduced by more than 50% – from $143M in FY13 to $71.1M in FY15.
This represents a decrease from a 16% carryover at the end of FY 2013 to 7.3% at the end of FY 2015, well below the 12% threshold established by new Board of Regents and legislative policies.
All but $3.8M of the carryover from FY15 is already obligated or planned for various university programs.
Overall PR balances have decreased by 10% over the same period.
81% of carryover balances are obligated or planned for expenses the campus will incur in FY16. Another 4.8% has been designated for specific uses.
Of the $52.2M among ALL funds classified as reserves, 93% are federal dollars essential to the research enterprise, especially at a time when federal research funding is declining. Only $3.8M is available for other uses.
Our balances are well below those of peer institutions, including Big 10 peers.
There are no state tax dollars in any of these funds.
The campus has instituted a new system of quarterly reporting of balances – the only campus in the UW System with such a reporting method. Campus units are reporting balances in a number of categories, including tuition, general operations and auxiliary operations so that we can monitor balances and make adjustments on a real time basis.
If we exceed balances of 12% in any of these areas, we will provide detailed explanations of how we intend to use these funds.
Detailed Information by Fund Type:
The tuition balance was reduced from $143M in FY13 to $71.1M in FY 15 – a decrease of $71.9M. This is a decrease from 16% to 7% in carryover.
Of the $71.1M carried over from FY15, $67.3M is either obligated or planned for expenses the campus will incur in FY16. Only $3.8M is a true reserve. The reserve will be utilized this year as we experienced a modest decline in our enrollment.