June Minutes

Date:  June 18, 2009

Time:  10:00 am

Place:  McKim Hall, VP Conference Room 3001

Representatives in Attendance:  Terry Bennett, Leslie Yowell, June Wade, Della Marsh, Christi Maguire, Lelia Gibson, Andrea McNeely, Adrienne Granity, Debbie Boggs, Cathy Pasternak, Ida Garrison

I. Call to Order: Meeting was called to order by Terry Bennett.

II. Guest Speaker: Melody Bianchetto, Assistant VP for Budget and Financial Planning

Ms. Bianchetto gave an excellent presentation on the University of Virginia 2009-2010 Budget Overview.  The 2009-2010 budget was approved by the Board of Visitors last week. The PowerPoint presentation can be found on the web at http://www.virginia.edu/budget/Docs/BudgetOverview0910update.pdf.

1. What are the major funding sources of the University?

(a) All divisions major funding sources for 2009-10 totals $2.25 billion.
Grants and Contracts - 13.3%
Tuition & Fees - 16.9%
Patient Revenue - 43.9%
Auxiliaries - 7.1%
State GF - 6.9%
Private - 9.4%
Other - 2.5%

(b) Academic division major funding sources for 2009-10 totals $1.23 billion.
Grants and Contracts - 24.3%
Tuition & Fees - 30.5%
Private - 17.0%
Auxiliaries - 12.4%
State GF - 11.5%
ARRA (American Reinvestment and Recovery Act-President Obama for 2 years)
 - 0.9%
Other - 3.4%

2. How does that compare to peers and the past?

(a) The 2008-09 undergraduate in-state tuition and fees comparison (public and private)-UVA was $9,490, the private average is $37,271, the public average was $7,900 and the overall average was $17,360.

(b) A chart entitled: 1989-90 State General Fund E&G (Educational and General) appropriation, inflated vs. Actual State General Fund E&G appropriation showed about a $200 million shortfall.

(c) A chart entitled: UVA Historical Education & General Fund from General Funding and Tuition (in 2010 dollars) Per In-State FTE Student-- showed that the reduced state funding was offset by private money and increase in out-of-state tuition.

3. What is Base Budget Adequacy?

(a) Not discussed in detail. It explains how much state gives us. This applies to all public institutions.

4. How do we spend our funds and make resource allocation decisions?

(a) For centralized fund sources, UVA Budget Office uses budget targets as a starting point. Decisions on how to use target budgets are decentralized to dean/unit head. Many fund sources are managed by the schools/units. Budget Office allocates new revenues based highest priorities of the Board and institution.

III. Reports:

University Human Resources - Beth Reinhard-No Report

Provost Office -John Teahan-No Report

IV. New Business:

(1) Terry Bennett will check with Johy Betts regarding the May 2009 minutes so they can be posted.

(2) Guest speaker for July 2009 will be Becca White, Director of UVA Department of Parking and Transportation. If you have questions for Ms. White, please email Terry Bennett at tll2e@virginia.edu prior to the July 16 meeting.

(3) Guest speaker for August 20, 2009 meeting will be Leonard Sandridge, UVA Executive Vice President & Chief Operating Officer. He will need questions from the council members prior to his presentation. Again, send questions to Terry Bennett.

V.  Old Business:  None

VI. Committee Reports:  None

VII. Adjournment:  Terry Bennett adjourned the meeting.  The next meeting is scheduled on July 16, 2009 at 10:00am.