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Executive Summary – December 2016 Quarterly Meeting

Page 3 of 10


. Private Fundraising Report


Ginger Hausser


Annually, institutions across the country report fundraising activities to the Council for Advancement

and Support of Education in the Voluntary Support of Education report. This information demonstrates

how TBR institutions are performing in private fundraising activities. This report is for information



1. FY 2016-17 October Revised Budget


Vice Chancellor Sims)

The Board will consider the October 31, 2016 revisions to the 2016-17 budgets for the

institutions governed by the Board and the Board of Regents System Office.

The original budgets for FY 2016-17 were developed by institutions in the Spring of 2016 and

were submitted to the Board office in May 2016. As such, these budgets included a variety of

estimates. These institutional budget submissions were the basis for the Board’s June 2016

approval of the initial FY 2016-17 operating budgets (the “Proposed Budget”). The October

Revised Budget is based on more recent information, including recognition of the impact of fall

enrollment, and includes the effect of revisions from the approved Proposed Budget.

Summarized below are the significant differences between the Board approved Proposed Budget

and the October Revised Budget.


Comparison of Revised and Proposed Beginning Fund Balance

Total beginning fund balance for FY 2016-17 was estimated at $218,829,900 in the Proposed

Budget and $347,782,000 in the October Revised Budget. The Proposed Budget is developed

prior to fiscal year end, therefore, the level of unspent carryforward funds from FY 2015-16 are

unknown. This results in an understatement of the beginning fund balance for FY 2016-17 in

the Proposed Budget. The October Revised Budget is developed after FY 2015-16 is closed and

the actual beginning fund balance for FY 2016-17 is known. These carryforward funds are

available to be re-budgeted for expenditure in the 2016-17 October budget.

2. Comparison of Revised and Proposed Revenues

Total revenue for FY 2016-17 of $2,991,165,000 represents an increase of $12,045,500 or 0.4%

more than the 2016-17 Proposed Budget. The majority of the increase occurred in restricted

funds ($11,870,000) and is due to finalizing federal grants whose status was unknown at the

time the Proposed budget was developed.

3.Comparison of Expenses by Function and Natural Classification

Research – Increased by $26,037,000 (or 76%). Changes result from increased faculty splits to

research, faculty promotions, graduate assistant fee waivers, and new research initiatives