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An update regarding budget planning for FY18


The following message was sent to Ohio University faculty and staff by Executive Vice President and Provost Pam Benoit and Vice President for Finance and Administration Deb Shaffer on Thursday, Dec. 1, 2016.

Dear Colleagues,

The purpose of this message is to provide an update to the University community about our budget planning efforts for fiscal year 2018 (FY18) to-date and what to expect from the process through the remainder of the FY17 fiscal year.
 
As we do every year, the FY18 Budget Planning Process began this fall with the development of preliminary planning assumptions and projections. As is typical at this point in the process, conservative revenue estimates combined with desire expenditure growth produced a revenues and expenses gap of approximately $25M, which is similar to where we were last year at this time.
 
The next step in the process will be to refine revenue projections and make choices among desired investments to bring the budget into balance. We are currently taking the following steps:

  • We will be making recommendations to Budget Planning Council (BPC) for tuition and fee increases early in the cycle in order to provide information to prospective students and families in the admissions process so that they better understand our value under the OHIO Guarantee. Fee increases for Athens undergraduate students will be recommended by BPC in December and brought by the President to the Board of Trustees for approval in January.
  • Our tuition and subsidy projections will become less conservative but will be contingent on tuition caps and subsidy appropriation levels within the final State budget. Preliminary indications of the State budget decisions will occur at the end of February when the governor presents his proposed budget. The State budget is not final until approved by the legislature at the end of June.
  • A new carry forward policy has been implemented for administrative units, which minimizes the administrative cost burden to our colleges and ensures we are utilizing our resources for our highest institutional priorities.
  • Academic leadership, which includes the Deans and senior administrators, is evaluating the level of investment in our current and desired institutional commitments with a focus towards prioritization and identifying where we can slow spending and still support investment in academic programs, academic and co-curricular support programs, and other institutional initiatives.
  • Colleges have also been asked to continue to refine and adjust their revenue and expense projections.
  • As consistent with past years, we expect to bring a balanced FY18 Budget to the Board of Trustees for approval in June.

 
We will continue to keep the University community informed as we progress through the planning process.
 
Thank you,

Pam Benoit
Executive Vice President and Provost

Deb Shaffer
Vice President for Finance and Administration