Friday, July 10, 2009 Finance and
Physical Plant
On Agenda Item As Section 6, Part C, #5
Consideration of Proposed Operating
Budget for the
University for the Fiscal Year Beginning July 1, 2009
Will the Committee on
Finance and Physical Plant recommend to the Board of Trustees
adoption of the following resolution:
Whereas, the Commonwealth of Pennsylvania has not
approved its budget and related appropriation to The
Pennsylvania State University as of July 1, 2009; and
Whereas, The Pennsylvania State University
administration, knowing of the depth of the current fiscal
crisis in the state and beyond, determined months ago to forgo
salary increases at the University this year and has reduced the
academic and administrative budgets; and
Whereas, The Pennsylvania State University is committed
to provide exceptional educational experiences and positive
workplace environments for all,
THEREFORE, BE IT RESOLVED, That in the event that the
Commonwealth of Pennsylvania's budget is finalized by July 17,
2009 at the level proposed in the Governor's Budget
Recommendation of March 3, 2009, the proposed Operating Budget
for the University for the fiscal year beginning July 1, 2009,
as shown in Scenario 1 and Schedules I-V which are attached
hereto and made part hereof, is approved.
FURTHER RESOLVED, in the event that the Commonwealth of
Pennsylvania's budget is not finalized by July 17, 2009, or is
finalized at the level proposed in the Governor's Proposal of
June 26, 2009, the Officers of the University are authorized to
effect the Operating Budget for the University for the fiscal
year beginning July 1, 2009, as shown in Scenario 2 and
Schedules I-V which are attached hereto and made part hereof.
FURTHER RESOLVED, in the event that the Commonwealth of
Pennsylvania's budget is finalized at an adjusted level between
the Governor's Proposals of March 3, 2009 and June 26, 2009, the
Officers of the University are authorized to effect the
Operating Budget for the University for the fiscal year
beginning July 1, 2009, as shown in Scenario 2 and Schedules I-V
which are attached hereto and made part hereof, and a revised
operating budget will be prepared and reviewed with the Board of
Trustees at the earliest opportunity to effect appropriate
changes for the Spring Semester 2010.
SCENARIO 1
THE PENNSYLVANIA STATE UNIVERSITY
2009-10 PROPOSED OPERATING BUDGET
SCHEDULE I
SUMMARY SCHEDULE FOR TOTAL UNIVERSITY
(1)
(2)
(3)
Adjusted
Budget
2009-10
2008-09
Changes
Budget
General Funds:
Educational & General (a)
$
1,478,592,000
$
54,273,000
$
1,532,865,000
Agricultural Research
27,955,000
0
27,955,000
Cooperative Extension
31,781,000
0
31,781,000
Sub-Total
1,538,328,000
54,273,000
1,592,601,000
College of Medicine
89,230,000
4,714,000
93,944,000
Pennsylvania College of Technology
94,114,000
(2,128,000)
91,986,000
Total - General Funds
1,721,672,000
56,859,000
1,778,531,000
Federal Funds - Agriculture
19,995,000
0
19,995,000
Restricted Funds (b):
Educational & General (a)
468,500,000
23,424,000
491,924,000
Agricultural Research
28,820,000
1,441,000
30,261,000
Cooperative Extension
15,340,000
767,000
16,107,000
College of Medicine
76,000,000
0
76,000,000
Pennsylvania College of Technology
22,423,000
567,000
22,990,000
Total - Restricted Funds
611,083,000
26,199,000
637,282,000
Auxiliary Enterprises (c):
Educational & General (a)
296,792,000
13,456,000
(d)
310,248,000
College of Medicine
3,899,000
164,000
4,063,000
Pennsylvania College of Technology
22,503,000
1,275,000
23,778,000
Total - Auxiliary Enterprises
323,194,000
14,895,000
338,089,000
TOTAL
$
2,675,944,000
$
97,953,000
$
2,773,897,000
The Milton S. Hershey Medical Center
939,265,000
52,958,000
992,223,000
(e)
TOTAL UNIVERSITY
$
3,615,209,000
$
150,911,000
$
3,766,120,000
Note: Footnotes follow Schedule V.
SCENARIO 1
THE
PENNSYLVANIA STATE UNIVERSITY
2009-10 PROPOSED GENERAL FUNDS BUDGET
SCHEDULE II
SUMMARY OF PROPOSED EXPENDITURES
(1)
(2)
(3)
Adjusted
Budget
2009-10
2008-09
Changes
Budget
GENERAL FUNDS:
EDUCATIONAL & GENERAL (f):
Instruction and Research
$
591,824,000
$
5,197,000
$
597,021,000
Other Public Service
44,121,000
184,000
44,305,000
Academic Support
295,439,000
1,219,000
296,658,000
Institutional Support
240,787,000
1,375,000
242,162,000
Student Services
98,539,000
567,000
99,106,000
Student Aid
39,890,000
6,175,000
46,065,000
Physical Plant Operations
157,956,000
15,353,000
173,309,000
University Contingencies
10,036,000
14,663,000
(g)
24,699,000
Cost Savings/Internal Reductions
0
(17,817,000)
(17,817,000)
Salary Increases & Related Benefits (h)
0
2,919,000
2,919,000
Benefits Cost Increases
0
24,438,000
24,438,000
Total Educational & General (i)
1,478,592,000
54,273,000
1,532,865,000
AGRICULTURAL RESEARCH (j):
Salary Adjustments & Benefits Costs
0
616,000
616,000
Program Changes
27,955,000
(616,000)
27,339,000
Total Agricultural Research (k)
27,955,000
0
27,955,000
COOPERATIVE EXTENSION (j):
Salary Adjustments & Benefits Costs
0
729,000
729,000
Program Changes
31,781,000
(729,000)
31,052,000
Total Cooperative Extension (k)
31,781,000
0
31,781,000
Sub-Total
1,538,328,000
54,273,000
1,592,601,000
COLLEGE OF MEDICINE
89,230,000
4,714,000
93,944,000
PA COLLEGE OF TECHNOLOGY (l)
94,114,000
(2,128,000)
91,986,000
TOTAL GENERAL FUNDS
$
1,721,672,000
$
56,859,000
$
1,778,531,000
Note: Footnotes follow Schedule V.
SCENARIO 1
THE
PENNSYLVANIA STATE UNIVERSITY
2009-10 PROPOSED GENERAL FUNDS BUDGET
SCHEDULE III
SUMMARY OF ANTICIPATED INCOME
(1)
(2)
(3)
Adjusted
Budget
2009-10
2008-09
Changes
Budget
GENERAL FUNDS:
EDUCATIONAL & GENERAL (m):
State Approp. & Federal Stimulus Funding:
Educational & General
$
267,451,000
$
0
(o) $
267,451,000
Recruitment & Retention of
Disadvantaged Students
454,000
0
(o)
454,000
Transfers
(4,032,000)
0
(4,032,000)
(q)
Sub-Total - State App. & Fed. Stimulus Funding
263,873,000
0
263,873,000
Tuition and Fees
1,110,795,000
52,809,000
(p)
1,163,604,000
Facilities & Administration and
Investment Income
66,515,000
3,500,000
70,015,000
Sales and Services Income
28,810,000
0
28,810,000
Other Income
18,599,000
(36,000)
18,563,000
Other Transfers
(10,000,000)
(2,000,000)
(12,000,000)
Total Educational & General
1,478,592,000
54,273,000
1,532,865,000
AGRICULTURAL RESEARCH:
State Approp. & Federal Stimulus Funding:
Agricultural Research
25,594,000
0
(o)
25,594,000
Transfers
1,184,000
0
1,184,000
(r)
Sub-Total - State App. & Fed. Stimulus Funding
26,778,000
0
26,778,000
Sales and Services Income
1,177,000
0
1,177,000
Total Agricultural Research
27,955,000
0
27,955,000
COOPERATIVE EXTENSION:
State Approp. & Federal Stimulus Funding:
Cooperative Extension
30,384,000
0
(o)
30,384,000
Transfers
1,397,000
0
1,397,000
(s)
Sub-Total - State App. & Fed. Stimulus Funding
31,781,000
0
31,781,000
Sales and Services Income
0
0
0
Total Cooperative Extension
31,781,000
0
31,781,000
Sub-Total
1,538,328,000
54,273,000
1,592,601,000
COLLEGE OF MEDICINE
89,230,000
4,714,000
93,944,000
PA COLLEGE OF TECHNOLOGY (n):
State Approp. & Federal Stimulus Funding:
PA College of Technology
14,492,000
0
(o)
14,492,000
Transfers
396,000
0
396,000
(t)
Sub-Total - State App. & Fed. Stimulus Funding
14,888,000
0
14,888,000
Tuition and Fees
75,076,000
1,522,000
76,598,000
Other Income
4,150,000
(3,650,000)
500,000
Total PA College of Technology
94,114,000
(2,128,000)
91,986,000
TOTAL GENERAL FUNDS
$
1,721,672,000
$
56,859,000
$
1,778,531,000
Note:
Footnotes follow Schedule V.
SCENARIO 1
THE
PENNSYLVANIA STATE UNIVERSITY
2009-10 PROPOSED GENERAL FUNDS BUDGET
SCHEDULE IV
SUMMARY OF PROPOSED EXPENDITURES
THE COLLEGE OF MEDICINE AT THE MILTON S. HERSHEY MEDICAL CENTER
(1)
(2)
(3)
Adjusted
Budget
2009-10
2008-09
Changes
Budget
GENERAL FUNDS:
Instruction and Research
$
29,141,000
$
667,000
$
29,808,000
Other Public Service
4,440,000
(393,000)
4,047,000
Academic Support
10,251,000
322,000
10,573,000
Institutional Support
18,058,000
996,000
19,054,000
Student Services
1,583,000
329,000
1,912,000
Student Aid
1,645,000
0
1,645,000
Physical Plant Operations
24,112,000
2,713,000
26,825,000
Salary Increases & Related Benefits
0
6,000
6,000
Benefits Cost Increases
0
74,000
74,000
TOTAL GENERAL FUNDS
89,230,000
4,714,000
93,944,000
RESTRICTED FUNDS (u)
76,000,000
0
76,000,000
AUXILIARY ENTERPRISES (v)
3,899,000
164,000
4,063,000
TOTAL
$
169,129,000
$
4,878,000
$
174,007,000
Note: Footnotes follow Schedule V.
SCENARIO 1
THE
PENNSYLVANIA STATE UNIVERSITY
2009-10 PROPOSED OPERATING BUDGET
SCHEDULE V
SUMMARY OF ANTICIPATED INCOME
THE COLLEGE OF MEDICINE AT THE MILTON S. HERSHEY MEDICAL CENTER
(1)
(2)
(3)
Adjusted
Budget
2009-10
2008-09
Changes
Budget
GENERAL FUNDS:
Tuition and Fees
$
25,201,000
$
460,000
(z) $
25,661,000
Facilities & Administration and
Investment Income
15,890,000
0
15,890,000
Academic Support from MSHMC (w)
20,000,000
800,000
20,800,000
Sales and Services Income
1,639,000
661,000
2,300,000
Other Income
15,445,000
793,000
16,238,000
State Appropriation: Transfers
1,055,000
0
1,055,000
(aa)
Other Transfers
10,000,000
2,000,000
12,000,000
TOTAL GENERAL FUNDS
89,230,000
4,714,000
93,944,000
RESTRICTED FUNDS (x)
76,000,000
0
76,000,000
AUXILIARY ENTERPRISES (y)
3,899,000
164,000
4,063,000
TOTAL
$
169,129,000
$
4,878,000
$
174,007,000
Note: Footnotes follow Schedule V.
Scenario 1
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 2008-09 is based on
2007-08 actual and 2008-09 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 $11,257,600 from room and board rate increases approved
by the Board of Trustees on November 21, 2008, and other
adjustments. Expenditures are offset directly by income for the
same purpose.
(e)Total income from the
2009-10 budget for The Milton S. Hershey Medical Center (MSHMC)
that was approved by the Board of Directors of MSHMC on June 25,
2009.
Schedule
II:
(f)Excludes College of
Medicine.
(g)Historically, Penn State
has taken a conservative approach in developing its operating
budget. It is important for Penn State to preserve as much
flexibility as possible in its budget planning in light of the
volatility that continues to exist with the economy in general. These funds have been included to position the University
against future contingencies and unanticipated financial
pressures.
(h)Funding to meet a 3.0
percent salary increase for employees included under the
University’s collective bargaining agreement.
(i)Employee benefits expense
distributed by function.
(j)Includes expenditures
offset by funding allocated by the Commonwealth and by 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.
Schedule III:
(m)Excludes College of Medicine.
(n)Penn College is a separate but
wholly owned subsidiary of the University administered through the
Corporation for Penn State.
(o)The 2009-10 operating budget
(excluding the College of Medicine) includes an estimated direct
appropriation of $318,073,000. This is $20,302,000, or 6.0 percent,
less than the 2008-09 appropriation level. Also includes State
Fiscal Stabilization Funds allocated by the Commonwealth which
offset the $20,302,000 reduction in direct state appropriation.
(p)
Includes tuition rate changes for 2009-10 of $46,986,000. Also
reflected are additional income of $1,225,000 from the Information
Technology Fee, $179,000 from Student Activities Fee, and $4,419,000
from Student Facilities Fee.
(q)Represents the following
transfers: $1,055,000 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). $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.
(r)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.
(s)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.
(t)Represents the following
transfers: $293,000 redistribution of 2004-05 increase and $103,000
for a proportionate share of the 1997-98 Special Projects
Schedule IV:
(u)Expenditures are offset
directly by income for the same purpose.
(v)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:
(w)Reflects funding received by
the College of Medicine from The Milton S. Hershey Medical Center (MSHMC).
(x)Expenditures are offset
directly by income for the same purpose.
(y)Self-supporting budgets
representing sales and services, primarily to individuals. These
sales and services include housing.
(z)Reflects an annual increase of
$1,036 for in-state medical student tuition and $1,374 for
out-of-state medical student tuition.
(aa)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).
SCENARIO 2
THE
PENNSYLVANIA STATE UNIVERSITY
2009-10 PROPOSED OPERATING BUDGET
SCHEDULE I
SUMMARY SCHEDULE FOR TOTAL UNIVERSITY
(1)
(2)
(3)
Adjusted
Budget
2009-10
2008-09
Changes
Budget
General Funds:
Educational & General (a)
$
1,478,592,000
$
41,284,000
$
1,519,876,000
Agricultural Research
27,955,000
(4,607,000)
23,348,000
Cooperative Extension
31,781,000
(5,469,000)
26,312,000
Sub-Total
1,538,328,000
31,208,000
1,569,536,000
College of Medicine
89,230,000
4,714,000
93,944,000
Pennsylvania College of Technology
94,114,000
(2,913,000)
91,201,000
Total - General Funds
1,721,672,000
33,009,000
1,754,681,000
Federal Funds - Agriculture
19,995,000
0
19,995,000
Restricted Funds (b):
Educational & General (a)
468,500,000
23,424,000
491,924,000
Agricultural Research
28,820,000
1,441,000
30,261,000
Cooperative Extension
15,340,000
767,000
16,107,000
College of Medicine
76,000,000
0
76,000,000
Pennsylvania College of Technology
22,423,000
567,000
22,990,000
Total - Restricted Funds
611,083,000
26,199,000
637,282,000
Auxiliary Enterprises (c):
Educational & General (a)
296,792,000
13,456,000
(d)
310,248,000
College of Medicine
3,899,000
164,000
4,063,000
Pennsylvania College of Technology
22,503,000
1,275,000
23,778,000
Total - Auxiliary Enterprises
323,194,000
14,895,000
338,089,000
TOTAL
$
2,675,944,000
$
74,103,000
$
2,750,047,000
The Milton S. Hershey Medical Center
939,265,000
52,958,000
992,223,000
(e)
TOTAL UNIVERSITY
$
3,615,209,000
$
127,061,000
$
3,742,270,000
Note: Footnotes follow Schedule V.
SCENARIO 2
THE PENNSYLVANIA STATE UNIVERSITY
2009-10 PROPOSED GENERAL FUNDS BUDGET
SCHEDULE II
SUMMARY OF PROPOSED EXPENDITURES
(1)
(2)
(3)
Adjusted
Budget
2009-10
2008-09
Changes
Budget
GENERAL FUNDS:
EDUCATIONAL & GENERAL (f):
Instruction and Research
$
591,824,000
$
5,197,000
$
597,021,000
Other Public Service
44,121,000
184,000
44,305,000
Academic Support
295,439,000
1,219,000
296,658,000
Institutional Support
240,787,000
1,375,000
242,162,000
Student Services
98,539,000
567,000
99,106,000
Student Aid
39,890,000
10,045,000
49,935,000
Physical Plant Operations
157,956,000
15,353,000
173,309,000
University Contingencies
10,036,000
0
10,036,000
Cost Savings/Internal Reductions
0
(17,817,000)
(17,817,000)
Salary Increases & Related Benefits (g)
0
2,919,000
2,919,000
Benefits Cost Increases
0
22,242,000
22,242,000
Total Educational & General (h)
1,478,592,000
41,284,000
1,519,876,000
AGRICULTURAL RESEARCH (i):
Salary Adjustments & Benefits Costs
0
616,000
616,000
Program Changes
27,955,000
(5,223,000)
22,732,000
Total Agricultural Research (j)
27,955,000
(4,607,000)
23,348,000
COOPERATIVE EXTENSION (i):
Salary Adjustments & Benefits Costs
0
729,000
729,000
Program Changes
31,781,000
(6,198,000)
25,583,000
Total Cooperative Extension (j)
31,781,000
(5,469,000)
26,312,000
Sub-Total
1,538,328,000
31,208,000
1,569,536,000
COLLEGE OF MEDICINE
89,230,000
4,714,000
93,944,000
PA COLLEGE OF TECHNOLOGY (k)
94,114,000
(2,913,000)
91,201,000
TOTAL GENERAL FUNDS
$
1,721,672,000
$
33,009,000
$
1,754,681,000
Note: Footnotes follow Schedule V.
SCENARIO 2
THE PENNSYLVANIA STATE UNIVERSITY
2009-10 PROPOSED GENERAL FUNDS BUDGET
SCHEDULE III
SUMMARY OF ANTICIPATED INCOME
(1)
(2)
(3)
Adjusted
Budget
2009-10
2008-09
Changes
Budget
GENERAL FUNDS:
EDUCATIONAL & GENERAL (l):
State Appropriation:
Educational & General
$
267,451,000
$
(48,224,000)
(n) $
219,227,000
Recruitment & Retention of
Disadvantaged Students
454,000
0
(n)
454,000
Transfers
(4,032,000)
0
(4,032,000)
(p)
Sub-Total - State Appropriation
263,873,000
(48,224,000)
215,649,000
Tuition and Fees
1,110,795,000
88,044,000
(o)
1,198,839,000
Facilities & Administration and
Investment Income
66,515,000
3,500,000
70,015,000
Sales and Services Income
28,810,000
0
28,810,000
Other Income
18,599,000
(36,000)
18,563,000
Other Transfers
(10,000,000)
(2,000,000)
(12,000,000)
Total Educational & General
1,478,592,000
41,284,000
1,519,876,000
AGRICULTURAL RESEARCH:
State Appropriation:
Agricultural Research
25,594,000
(4,607,000)
(n)
20,987,000
Transfers
1,184,000
0
1,184,000
(q)
Sub-Total - State Appropriation
26,778,000
(4,607,000)
22,171,000
Sales and Services Income
1,177,000
0
1,177,000
Total Agricultural Research
27,955,000
(4,607,000)
23,348,000
COOPERATIVE EXTENSION:
State Appropriation:
Cooperative Extension
30,384,000
(5,469,000)
(n)
24,915,000
Transfers
1,397,000
0
1,397,000
(r)
Sub-Total - State Appropriation
31,781,000
(5,469,000)
26,312,000
Sales and Services Income
0
0
0
Total Cooperative Extension
31,781,000
(5,469,000)
26,312,000
Sub-Total
1,538,328,000
31,208,000
1,569,536,000
COLLEGE OF MEDICINE
89,230,000
4,714,000
93,944,000
PA COLLEGE OF TECHNOLOGY (m):
State Appropriation:
PA College of Technology
14,492,000
(2,608,000)
(n)
11,884,000
Transfers
396,000
0
396,000
(s)
Sub-Total - State Appropriation
14,888,000
(2,608,000)
12,280,000
Tuition and Fees
75,076,000
1,522,000
76,598,000
Other Income
4,150,000
(1,827,000)
2,323,000
Total PA College of Technology
94,114,000
(2,913,000)
91,201,000
TOTAL GENERAL FUNDS
$
1,721,672,000
$
33,009,000
$
1,754,681,000
Note: Footnotes follow Schedule V.
SCENARIO 2
THE PENNSYLVANIA STATE UNIVERSITY
2009-10 PROPOSED OPERATING BUDGET
SCHEDULE IV
SUMMARY OF PROPOSED EXPENDITURES
THE COLLEGE OF MEDICINE AT THE MILTON S. HERSHEY MEDICAL CENTER
(1)
(2)
(3)
Adjusted
Budget
2009-10
2008-09
Changes
Budget
GENERAL FUNDS:
Instruction and Research
$
29,141,000
$
667,000
$
29,808,000
Other Public Service
4,440,000
(393,000)
4,047,000
Academic Support
10,251,000
322,000
10,573,000
Institutional Support
18,058,000
996,000
19,054,000
Student Services
1,583,000
329,000
1,912,000
Student Aid
1,645,000
0
1,645,000
Physical Plant Operations
24,112,000
2,713,000
26,825,000
Salary Increases & Related Benefits
0
6,000
6,000
Benefits Cost Increases
0
74,000
74,000
TOTAL GENERAL FUNDS
89,230,000
4,714,000
93,944,000
RESTRICTED FUNDS (t)
76,000,000
0
76,000,000
AUXILIARY ENTERPRISES (u)
3,899,000
164,000
4,063,000
TOTAL
$
169,129,000
$
4,878,000
$
174,007,000
Note: Footnotes follow Schedule V.
SCENARIO 2
THE PENNSYLVANIA STATE UNIVERSITY
2009-10 PROPOSED OPERATING BUDGET
SCHEDULE V
SUMMARY OF ANTICIPATED INCOME
THE COLLEGE OF MEDICINE AT THE MILTON S. HERSHEY MEDICAL CENTER
(1)
(2)
(3)
Adjusted
Budget
2009-10
2008-09
Changes
Budget
GENERAL FUNDS:
Tuition and Fees
$
25,201,000
$
460,000
(y) $
25,661,000
Facilities & Administration and
Investment Income
15,890,000
0
15,890,000
Academic Support from MSHMC (v)
20,000,000
800,000
20,800,000
Sales and Services Income
1,639,000
661,000
2,300,000
Other Income
15,445,000
793,000
16,238,000
State Appropriation: Transfers
1,055,000
0
1,055,000
(z)
Other Transfers
10,000,000
2,000,000
12,000,000
TOTAL GENERAL FUNDS
89,230,000
4,714,000
93,944,000
RESTRICTED FUNDS (w)
76,000,000
0
76,000,000
AUXILIARY ENTERPRISES (x)
3,899,000
164,000
4,063,000
TOTAL
$
169,129,000
$
4,878,000
$
174,007,000
Note: Footnotes follow Schedule V.
Scenario 2
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 2008-09 is based on
2007-08 actual and 2008-09 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 $11,257,600 from room and board rate increases approved
by the Board of Trustees on November 21, 2008, and other
adjustments. Expenditures are offset directly by income for the
same purpose.
(e)
Total income from the 2009-10 budget for The Milton S. Hershey
Medical Center (MSHMC) that was approved by the Board of
Directors of MSHMC on June 25, 2009.
Schedule
II:
(f) Excludes College of
Medicine.
(g) Funding to meet a 3.0
percent salary increase for employees included under the
University’s collective bargaining agreement.
(h)
Employee benefits expense distributed by function.
(i)
Includes expenditures offset by funding allocated by the
Commonwealth and by sales and services income.
(j)
Includes allocated employee benefits for Agricultural Research
and Cooperative Extension personnel paid on Federal
Funds-Agriculture.
(k)
The Pennsylvania College of Technology (Penn College) is a
separate but wholly owned subsidiary of the University
administered through the Corporation for Penn State.
Schedule III:
(l) Excludes College of
Medicine.
(m) Penn College is a separate
but wholly owned subsidiary of the University administered through
the Corporation for Penn State.
(n) The
2009-10 operating budget (excluding the College of Medicine)
includes an estimated direct appropriation of $277,467,000. This is
$60,908,000, or 18.0 percent, less than the 2008-09 appropriation
level.
(o)
Includes tuition rate changes for 2009-10 of $82,221,000. Also
reflected are additional income of $1,225,000 from the Information
Technology Fee, $179,000 from Student Activities Fee, and $4,419,000
from Student Facilities Fee.
(p)
Represents the following transfers: $1,055,000 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). $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.
(q)
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.
(r)
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.
(s)
Represents 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:
(t)
Expenditures are offset directly by income for the same purpose.
(u)
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:
(v)
Reflects funding received by the College of Medicine from The Milton
S. Hershey Medical Center (MSHMC).
(w)
Expenditures are offset directly by income for the same purpose.
(x)
Self-supporting budgets representing sales and services, primarily
to individuals. These sales and services include housing.
(y)
Reflects an annual increase of $1,036 for in-state medical student
tuition and $1,374 for out-of-state medical student tuition.
(z)
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).
