Planning and Resources Meeting Minutes

Meeting Details:

Fiscal Year: FY2022
Time: 3:00 p.m.
Location: Zoom
Minutes Recorded By: Nils Gore


Attending Members

  • Nick Stevens
  • Jason Hornberger
  • Whitney Juneau
  • Jordan Smoot
  • Suzanne Shontz
  • Jin Feng
  • Nils Gore

New Business

  1. Jason Hornberger began the meeting with a detailed graphic and description of the budget model timeline.
    1. Key Dates:
      1. Feb 14:  20th day census is official semester enrollment
      2. Feb 23:  Revenue estimate (reveals how much money has been spent so far)
      3. Mar 15:  Provost and CFO approval
      4. Apr 8:  Finalize and distribute allocations
      5. May 1:  Tuition and fee proposals to KBOR
      6. June 12:  Final FY23 budget
    2. Meetings held throughout the spring to determine hiring needs
  2. Question:  How’s the new budget model going? How is it being evaluated and tweaked?
    1. Jason:  We’ve transitioned from a “historical” model to a “productivity” model. We are making progress and it will continue to evolve. Developing a single model that takes into account idiosyncrasies of different units, and still works for everyone is a big challenge. Jason will be glad to go into greater detail for the committee if desired.
  3. Question:  Please clarify Operating vs. Capital budgeting.
    1. Jason:  separate budget categories. One upcoming challenge having to do with infrastructure:  KBOR is going to force universities to spend 2% on deferred maintenance. In practical terms this means that KU will need to find ± $35 million in additional revenue to support this requirement.
  4. Question:  What’s best way to understand long and short-term financial impacts of Covid?
    1. Nick:  enrollment declines (which have been significant) have a 4-year impact as that cohort moves through the system. 
    2. Jason: Housing, dining, union, bookstore, parking, athletics all took a big hit and lost money.
    3. Jason can give a more detailed view of that if the committee wishes him too.
  5. Next Steps:
    1. Meet with Matt Melvin to understand recruiting and admissions as a key revenue generator.
    2. Meet with Jeff Dewitt following his 5-year plan update to be delivered in early March.
  6. Meeting was adjourned at 4:00 pm.

P&R - Feb. 4, 2022