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The Pennsylvania State University
Meeting of the Board of Trustees
Friday, July 13, 2007
Finance and Physical Plant -- Agenda Item #1
Consideration of Proposed Operating Budget for the University for the Fiscal Year
Beginning July 1, 2007
 
Will the Committee on Finance and Physical Plant recommend to the Board of Trustees adoption of the following resolution:
 
RESOLVED, That the proposed Operating Budget for the University for the fiscal year beginning July 1, 2007, as shown in Attachment 1, and Schedules I-V, which are attached hereto and made a part hereof, is approved.

Revised per Senate Bill #929
Approved by Penn State Board of Trustees
September 7, 2007
 

THE PENNSYLVANIA STATE UNIVERSITY
2007-08 PROPOSED OPERATING BUDGET
SCHEDULE I
SUMMARY SCHEDULE FOR TOTAL UNIVERSITY
 
      (1)
Adjusted
Budget
2006-07		   (2)


Changes		   (3)

2007-08
Budget		  
     
 
 
 
General Funds:                
                 
Educational & General (a) $1,319,613,000 $64,959,000 $1,384,572,000  
Agricultural Research   27,444,000   501,000   27,945,000  
Cooperative Extension         31,228,000            597,000         31,825,000  
      Sub-Total   1,378,285,000   66,057,000   1,444,342,000  
College of Medicine   79,801,000   6,467,000   86,268,000  
Pennsylvania College of Technology        83,183,000          4,621,000         87,804,000  
                 
Total - General Funds     1,541,269,000   77,145,000   1,618,414,000  
                 
Federal Funds - Agriculture     18,360,000   0   18,360,000  
                 
Restricted Funds: (b)              
                 
Educational & General (a)   424,950,000   21,240,000   446,190,000  
Agricultural Research   26,145,000   1,305,000   27,450,000  
Cooperative Extension   13,910,000   700,000   14,610,000  
College of Medicine   67,000,000   5,000,000   72,000,000  
Pennsylvania College of Technology        26,684,000          (516,000)        26,168,000  
                 
Total - Restricted Funds     558,689,000   27,729,000   586,418,000  
                 
Auxiliary Enterprises: (c)            
                 
Educational & General (a)   258,515,000   14,787,000 (d) 273,302,000  
College of Medicine   3,655,000   165,000   3,820,000  
Pennsylvania College of Technology        17,709,000         2,366,000        20,075,000  
                 
Total - Auxiliary Enterprises       279,879,000       17,318,000     297,197,000  
                 
TOTAL   $2,398,197,000  $122,192,000   $2,520,389,000  
                 
The Milton S. Hershey Medical Center       808,892,000       82,247,000       891,139,000 (e)
                 
TOTAL UNIVERSITY   $3,207,089,000 $204,439,000 $3,411,528,000  
     
 
 
 
           
Note: Footnotes follow Schedule V.                
 
 

Revised per Senate Bill #929
Approved by Penn State Board of Trustees
September 7, 2007

THE PENNSYLVANIA STATE UNIVERSITY
2007-08 PROPOSED GENERAL FUNDS BUDGET
 SCHEDULE II  
SUMMARY OF PROPOSED EXPENDITURES

 
        (1)
Adjusted
Budget
2006-07		   (2)


Changes		   (3)

2007-08
Budget		  
       
 
 
 
GENERAL FUNDS:                
  EDUCATIONAL & GENERAL: (f)          
    Instruction and Research $542,998,000 $5,215,000 $548,213,000  
    Other Public Service   38,995,000   43,000   39,038,000  
    Academic Support   265,537,000   1,700,000   267,237,000  
    Institutional Support   213,362,000   2,150,000   215,512,000  
    Student Services   75,153,000   1,865,000   77,018,000  
    Student Aid   34,322,000   5,728,000   40,050,000  
    Physical Plant Operations   139,212,000   11,570,000   150,782,000  
    University Contingencies   10,034,000   0   10,034,000  
    Cost Savings/Internal Reductions   0   (10,141,000)   (10,141,000)  
    Salary Increases & Related Benefits (g) 0   22,616,000   22,616,000  
    Benefits Cost Increases   0   17,962,000   17,962,000  
    President's Excellence Fund (h)    0   6,251,000   6,251,000  
       
 
  Total Educational & General: (i) 1,319,613,000   64,959,000   1,384,572,000  
                 
  AGRICULTURAL RESEARCH: (j)            
    Salary Adjustments & Benefits Costs 0   1,044,000   1,044,000  
    Program Changes   27,444,000   (543,000)   26,901,000  
     
 
  Total Agricultural Research: (k)   27,444,000   501,000   27,945,000  
             
  COOPERATIVE EXTENSION: (j)              
    Salary Adjustments & Benefits Costs   0   1,229,000   1,229,000  
    Program Changes   31,228,000   (632,000)   30,596,000  
       
 
  Total Cooperative Extension: (k)   31,228,000   597,000   31,825,000  
       
 
  Sub-Total   1,378,285,000   66,057,000   1,444,342,000  
       
 
  COLLEGE OF MEDICINE   79,801,000   6,467,000   86,268,000  
                   
  PA COLLEGE OF TECHNOLOGY (l) 83,183,000   4,621,000   87,804,000

(m)
       
 
TOTAL GENERAL FUNDS   $1,541,269,000 $77,145,000 $1,618,414,000
       
 
             
Note: Footnotes follow Schedule V.              
           
 

   Revised per Senate Bill #929
Approved by Penn State Board of Trustees
September 7, 2007

              THE PENNSYLVANIA STATE UNIVERSITY
            2007-08 PROPOSED GENERAL FUNDS BUDGET
           SCHEDULE III
               SUMMARY OF ANTICIPATED INCOME
                       
            (1)
Adjusted
Budget
2006-07		   (2)


Changes		   (3)

2007-08
Budget		  
GENERAL FUNDS:        
 
 
 
  EDUCATIONAL & GENERAL: (n)                
    State Appropriation:                
      Educational & General $258,332,000 $5,167,000 (p) $263,499,000  
      Recruitment & Retention of              
         Disadvantaged Students   454,000   0 (p) 454,000  
      Transfers   (3,777,000)   0   (3,777,000)

(r)

  
     
 
  Sub-Total - State Appropriation   255,009,000   5,167,000   260,176,000  
                       
      Tuition and Fees   975,387,000   58,728,000

(q)

 1,034,115,000  
      Facilities & Administration and              
      Investment Income   58,607,000   3,454,000   62,061,000  
      Sales and Services Income   18,942,000   0   18,942,000  
      Other Income   17,668,000   (390,000)   17,278,000  
      Other Transfers   (6,000,000)   (2,000,000)   (8,000,000)  
           
 
  Total Educational & General 1,319,613,000   64,959,000   1,384,572,000  
               
  AGRICULTURAL RESEARCH:          
  State Appropriation:            
      Agricultural Research Appropriation 25,094,000   501,000 (p) 25,595,000  
      Transfers   1,184,000   0   1,184,000 (s)
     
 
  Sub-Total - State Appropriation   26,278,000   501,000   26,779,000  
  Sales and Services Income   1,166,000   0   1,166,000  
           
 
  Total Agricultural Research   27,444,000   501,000   27,945,000  
           
 
  COOPERATIVE EXTENSION:          
      State Appropriation:              
      Cooperative Extension Appropriation   29,787,000   597,000 (p) 30,384,000  
      Transfers from Educational & General   1,397,000   0   1,397,000 (t)
           
 
      Sub-Total - State Appropriation 31,184,000   597,000   31,781,000  
      Sales and Services Income   44,000   0   44,000  
         
 
  Total Cooperative Extension   31,228,000   597,000   31,825,000  
           
 
  Sub-Total   1,378,285,000   66,057,000   1,444,342,000  
           
 
  COLLEGE OF MEDICINE   79,801,000   6,467,000   86,268,000  
                       
  PA COLLEGE OF TECHNOLOGY: (o)    
      State Appropriation:              
      PA College of Technology Appropriation 14,048,000   250,000 (p) 14,298,000  
      Transfers 396,000   0   396,000  
           
 
      Sub-Total - State Appropriation   14,444,000   250,000   14,694,000 (u)
      Tuition and Fees   66,560,000   4,253,000   70,813,000  
      Other Income   2,179,000   118,000   2,297,000  
         
 
  Total PA College of Technology   83,183,000   4,621,000   87,804,000  
           
 
  TOTAL GENERAL FUNDS $1,541,269,000 $77,145,000 $1,618,414,000  
         
 
 
             
  Note: Footnotes follow Schedule V.          
             
 

Revised per Senate Bill #929
Approved by Penn State Board of Trustees
September 7, 2007

THE PENNSYLVANIA STATE UNIVERSITY
2007-08 PROPOSED OPERATING BUDGET
SCHEDULE IV
SUMMARY OF PROPOSED EXPENDITURES
THE COLLEGE OF MEDICINE AT THE MILTON S. HERSHEY MEDICAL CENTER
               
    (1)
Adjusted
Budget
2006-07		   (2)


Changes		   (3)

2007-08
Budget		  
   
 
 
 
GENERAL FUNDS:                  
    Instruction and Research   $24,965,000   $3,858,000   $28,823,000  
    Other Public Service   4,074,000   43,000   4,117,000  
    Academic Support   9,361,000   394,000   9,755,000  
    Institutional Support   16,853,000   0   16,853,000  
    Student Services   1,426,000   0   1,426,000  
    Student Aid   1,374,000   0   1,374,000  
    Physical Plant Operations   21,748,000   513,000   22,261,000  
    Salary Increases & Related Benefits   0   937,000   937,000  
    Benefits Cost Increases   0   722,000   722,000  
    
 
     
TOTAL GENERAL FUNDS   79,801,000   6,467,000   86,268,000  
               
RESTRICTED FUNDS: (v)   67,000,000   5,000,000   72,000,000  
               
AUXILIARY ENTERPRISES: (w)   3,655,000   165,000   3,820,000  
   
 
               
TOTAL     $150,456,000   $11,632,000   $162,088,000  
   
 
     
             
Note: Footnotes follow Schedule V.                 
               
 

Revised per Senate Bill #929
Approved by Penn State Board of Trustees
September 7, 2007

THE PENNSYLVANIA STATE UNIVERSITY
2007-08 PROPOSED OPERATING BUDGET
SCHEDULE V
 SUMMARY OF ANTICIPATED INCOME
THE COLLEGE OF MEDICINE AT THE MILTON S. HERSHEY MEDICAL CENTER  
               
    (1)
Adjusted
Budget
2006-07		   (2)


Changes		   (3)

2007-08
Budget		  
   
 
 
 
GENERAL FUNDS:                  
    Tuition and Fees   $21,601,000   1,944,000

(aa)

 $23,545,000  
    Facilities and Administration and
        Investment Income		  
15,090,000		  
500,000		  
15,590,000		  
    Academic Support from MSHMC (x)   21,300,000   700,000   22,000,000  
    Sales and Services Income   1,523,000   70,000   1,593,000  
    Other Income   13,487,000   1,253,000   14,740,000  
    State Appropriation:
        Transfers from E&G		  
800,000 		 
0		  
800,000
(bb)
    Other Transfers   6,000,000   2,000,000   8,000,000  
   
TOTAL GENERAL FUNDS   79,801,000   6,467,000   86,268,000  
               
RESTRICTED FUNDS: (y)   67,000,000   5,000,000   72,000,000  
               
AUXILIARY ENTERPRISES: (z)   3,655,000   165,000   3,820,000  
   
               
TOTAL     $150,456,000   $11,632,000   $162,088,000  
   
             
Note: Footnotes follow Schedule V.                 
               
 

Footnotes for Schedules I - V
   
Schedule I:  
   
(a) Excludes College of Medicine.
   
(b) Includes Grants, Contracts, Restricted Gifts and Restricted Endowment Income. The Adjusted Budget 2006-07 is based on 2005-06 actual and 2006-07 estimated income. Expenditures are offset directly by income for the same purpose.
   
(c) Self-supporting budgets representing sales and services, primarily to individuals. Educational and General Auxiliary Enterprises include Housing and Food Services, Intercollegiate Athletics, Commons Operations, Penn State Hospitality Services, Bryce Jordan Center, and Airport Operations.
   
(d) Includes $8,934,000 from room and board rate increases approved by the Board of Trustees on November 17, 2006, and other adjustments. Expenditures are offset directly by income for the same purpose.
   
(e) Total income from the 2007-08 budget for The Milton S. Hershey Medical Center (MSHMC) that was approved by the Board of Directors of MSHMC on June 21, 2007.
   
Schedule II:  
   
(f) Excludes College of Medicine.
   
(g) A salary increase pool of 2.25 percent will be used for merit-based increases, and for market, equity, and compression considerations for groups or individuals within the unit.
   
(h) To provide additional support for salary concerns, the budget (including Agricultural Research and Cooperative Extension) provides for the President's Excellence Fund. This fund represents 1.25 percent of the filled position salary base for faculty and staff, and will be used for special merit, market, and equity concerns.
   
(i) Employee benefits expense distributed by function.
   
(j) Includes expenditures offset by State Appropriation and sales and services income.
   
(k) Includes allocated employee benefits for Agricultural Research and Cooperative Extension personnel paid on Federal Funds-Agriculture.
   
(l) The Pennsylvania College of Technology (Penn College) is a separate but wholly owned subsidiary of the University administered through the Corporation for Penn State.
   
(m) The proposed 2007-08 budget for Penn College that was approved by the Board of Directors of Penn College on June 21, 2007.
   
Schedule III:  
   
(n) Excludes College of Medicine.
   
(o) Penn College is a separate but wholly owned subsidiary of the University administered through the Corporation for Penn State.
   
(p) The 2007-08 operating budget (excluding the College of Medicine) includes an estimated appropriation of  $334,230,000 based on the Governor's Executive Budget recommendation. This is $6,515,000, or 2.0 percent, more than the 2006-07 appropriation level.
   
(q) Includes tuition rate changes for 2007-08 of $56,018,000. Also reflected are additional income of $1,410,000 from the Information Technology Fee, and $1,300,000 from Student Activities Fee.
   
(r) Represents the following transfers: $800,000 to the College of Medicine for redistribution of 2004-05 increase, for graduate and nursing programs, for the prior years' Tuition Challenge Grants, and for a proportionate share of the 1997-98 Special Projects appropriation (which was folded into E&G in the 1998-99 appropriation); and a total of $2,977,000 to other line items for redistribution of 2005-06 and 2004-05 increases, and for a proportionate share of the 1997-98 Special Projects appropriation.
   
(s) Represents the following transfers: $462,000 redistribution of 2005-06 increase, $516,000 redistribution of 2004-05 increase and $206,000 for a proportionate share of the 1997-98 Special Projects appropriation.
   
(t) Represents the following transfers: $556,000 redistribution of 2005-06 increase, $620,000 redistribution of 2004-05 increase and $221,000 for a proportionate share of the 1997-98 Special Projects appropriation.
   
(u) Includes State Appropriation of $12,909,000 for operations and $1,389,000 for debt service. Also includes the following transfers: $293,000 redistribution of 2004-05 increase and $103,000 for a proportionate share of the 1997-98 Special Projects appropriation.
   
Schedule IV:
   
(v) Expenditures are offset directly by income for the same purpose.
   
(w) Self-supporting budgets representing sales and services, primarily to individuals. These sales and services include student housing. Expenditures are offset directly by income for the same purpose.
   
Schedule V:  
   
(x) Reflects funding received by the College of Medicine from The Milton S. Hershey Medical Center (MSHMC)
   
(y) Expenditures are offset directly by income for the same purpose.
   
(z) Self-supporting budgets representing sales and services, primarily to individuals. These sales and services include housing.
   
(aa) Reflects an annual increase of $1,846 for in-state medical student tuition and $1,710 for out-of-state medical student tuition.
   
(bb) Represents the following transfers: for redistribution of 2004-05 increase, for graduate and nursing programs, for the prior years' Tuition Challenge Grants, and for a proportionate share of the 1997-98 Special Projects appropriation (which was folded into E&G in the 1998-99 appropriation).
   
   
 

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Tuition and Mandatory Fee Increases
   

 
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