Budget Overview/Projection Fiscal Year 2004 and 2005 DKB: 6/2/03

Assumed Variables Used Re Projection

  • Enrollment: FY 04 and FY 05=14,325, held steady
  • State Allocation for FY 05 based on MnSCU estimate
  • Salary adjustments based on tails in existing contracts @ 5% FY 04, 5% FY 05 for planning purposes
  • Fringe increases from 29% to 30% of salaries in FY 04, FY 05
  • Utilities Increase 4% in FY 04 and FY 05
  • Credit Card Expense adjusted for web-site payment
  • Legal Costs Increase $200,000 FY 04, FY 05
  • MnSCU Policy regarding reserves - requires 5% reserve, adjusted to 3.0% FY 04, FY 05

Issues Pending

  • Contract Settlement Costs for FY 04, FY 05
  • Legal Settlement Costs
  • Economic Recession
  • State Allocation Estimate for FY 05
  • Future Deallocation FY04