University Senate Committee on Planning and Resources Minutes 2/4/22
Meeting Minutes from 4 February 2022 meeting.
Recording of the meeting can be found here: https://mediahub.ku.edu/media/t/1_2viabda1
Agenda can be found here.
Nick Stevens, Jason Hornberger, Whitney Juneau, Jordan Smoot, Suzanne Shontz, Jin Feng, Nils Gore.
Meeting convened at 3:00pm by Zoom.
- Jason Hornberger began the meeting with a detailed graphic and description of the budget model timeline.
- Key Dates:
- Feb 14: 20th day census is official semester enrollment
- Feb 23: Revenue estimate (reveals how much money has been spent so far)
- Mar 15: Provost and CFO approval
- Apr 8: Finalize and distribute allocations
- May 1: Tuition and fee proposals to KBOR
- June 12: Final FY23 budget
- Meetings held throughout the spring to determine hiring needs
- Key Dates:
- Question: How’s the new budget model going? How is it being evaluated and tweaked?
- 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.
- Question: Please clarify Operating vs. Capital budgeting.
- 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.
- Question: What’s best way to understand long and short-term financial impacts of Covid?
- Nick: enrollment declines (which have been significant) have a 4-year impact as that cohort moves through the system.
- Jason: Housing, dining, union, bookstore, parking, athletics all took a big hit and lost money.
- Jason can give a more detailed view of that if the committee wishes him too.
- Next Steps:
- Meet with Matt Melvin to understand recruiting and admissions as a key revenue generator.
- Meet with Jeff Dewitt following his 5-year plan update to be delivered in early March.
- Meeting was adjourned at 4:00 pm.
Notes by Nils Gore.