Budget Plan Updates
October 2019 Update
On Oct. 2 and 3, Administrative Officer-in-Charge and Vice President for Administration and Finance, Josee Larochelle presented to updates of the Financial Stability Plan to the campus in Cardinal Lounge. Different than in years past, the presentations were not split by Division/Department but brought the campus together as one. This provided an opportunity for great discussion about where we are currently and ways in which we will continue to work together to ensure financial stability in the coming years.
Highlights from the presentation include:
- Fiscal Year 2018/19 we collected nearly $2.3 million in tuition revenue than originally anticipated due to higher enrollments and the collection of prior year’s Excelsior/Excelsior Credit and TAP.
- In Fiscal Year 2018/19 we also received a one-time payment of $1.6 million from NYS to reimburse the UUP retro salary payments.
- With the additional tuition revenue, the reimbursement from NYS for the UUP retro payments, and the divisional unspent budgets we were able to close Fiscal Year 2018/19 by increasing our unrestricted operating reserve balance by $4.9 million.
- The official enrollment census has not been completed, but as of Sept. 26 the Fall 2019 headcount was 5,258 – 129 students below our target.
- Fiscal Year 2019/20 adopted budget results in a structural deficit of nearly $6.5 million, where short term strategies and reserves will be utilized to balance the budget.
For additional details, we encourage you to review the Fall 2019 Financial Stability Plan Update Presentation and to contact us with any questions.
April 2019 Update
As the College continues to plan for the 2019/20 fiscal year budget, we are finalizing our projections for this fiscal year, identifying planned budget reductions (based on the financial stability plan), as well as evaluating our enrollment targets for new incoming students and continuing students.
Enrollments for 2018/19 fiscal year have exceeded our projections for Fall 2018 by 1% or 43 students and we are just short of our Spring 2019 projection by 17 students (less than 1%). This increase in enrollment has resulted in approximately $1 million more in tuition revenue than originally planned. This is great news and a success to our marketing and recruitment program. All in all, our financial projections look promising with the College using less reserves than originally planned for.
Regarding the 2019/20 fiscal year, each Division has identified all targeted budget permanent reductions. Budget plans are in process, are being reviewed by the Vice Presidents, and are anticipated for finalization late May. The New York State budget includes one-time funding for SUNY Colleges related to the UUP retro payments that were paid in 2018/19. This one-time funding will be allocated in late June to the College and discussions are being held at SUNY regarding the allocation methodology.
As we all know, tuition revenue is the largest share of SUNY Plattsburgh revenue. In January 2019, the Cabinet approved an enrollment projection that targeted 5,595 for Fall 2019. This included 1,879 new students and 3,716 continuing students. As of this week, Strategic Enrollment Management has provided a worst-case scenario that indicates our new student projection is 1,684. This is a significant decrease from our original planned enrollment. We are now adjusting our enrollment projections for Fall 2019 as well as our tuition revenue downward to 5,387 fall enrollments. This reduction will have an impact on our revenue by approximately $1.5 million.
The Cabinet and College Leadership will be addressing the impacts of this reduced revenue as we finalize our budget plans for next year. As such, we are in the process of revising our revenue projections as we work towards finalizing the budget plan for next year.
March 2019 - Spring Update
In a continued effort to provide timely and transparent communications about our Financial Stability Plan, this update services to provide the campus with some key highlights on our current fiscal year as well as the upcoming 2019/20 fiscal year.
It is important to note the fiscal year 2019/20 New York State budget is anticipated to be passed April 1, 2019 and our College fiscal year 2019/20 budget has not yet been finalized. For further details regarding our campus FY19/20 budget preparation process and timeline, please visit our budget website.
Fiscal Year 2018/19 Enrollment & Budget Updates
- Billed $1M more in tuition revenue than originally anticipated due to higher enrollments in the fall and winter terms.
- Implemented and achieved $1.7M in permanent budget reductions.
- Anticipated use of $1.5M less in cash reserves to cover the deficit at the end of the fiscal year.
Fiscal Year 2019/20 Enrollment & Budget Updates
- Enrollments projected to decline due to an increase in separation rates for continuing students.
- State funding anticipated to stay flat.
- Permanent reductions need to be effectuated in FY 19/20 through FY21/22 by Academic Affairs.
For further details, we encourage you to review the Spring 2019 Financial Stability Plan Update Presentation and to contact us with any questions.
Oct. 16, 2018 - Fall 2018 Update
Over the course of the past month, Vice President for Administration and Finance Josee Larochelle has been presenting updates on the Financial Stability Plan at ten community gatherings. Overall, the campus has made significant progress on achieving the goals in the financial stability plan thanks in large part to the significant support from the campus community. While our first year achievements have been impressive, there is still much more work ahead of us. We must continue the progress that has been made if we wish to achieve the financial goals outlined in the plan.
Notable highlights from the presentation include:
- Fiscal Year 2017/18 billed tuition revenue exceeded budget by over $1 million.
- Fiscal Year 2017/18 total campus spending was $6.1M less than budgeted.
- Permanent expenditure reductions of $1.7M in fiscal year 2018/19 were achieved.
- The targeted permanent expenditure reductions for FY19/20, 20/21, & 21/22 are $1.4M, $600,000, & $450,000 respectively.
- Revenue Generation and Cost Savings and Efficiencies ideas are being implemented. If fully implemented, the total value of the ideas that have already been identified would be an additional $76,822 annually.
If you were unable to attend the presentation, you can learn more about it here.
Aug. 21, 2018 - Budget Initiatives Being Implemented and Fall Gatherings Planned
Throughout the summer, the Revenue Generation and Cost Management and Business Process Improvement Budget Response Teams have been meeting regularly to review campus budget ideas. To date, six initiatives have been been reviewed, recommended for implementation, and have been, or are in the process of, being implemented. Together, these six initiates will result in almost $25,000.00 of additional revenue or cost savings on an annual basis. Highlights can be found below.
The teams are continuing to review existing and newly submitted ideas and will continue to report on their progress quarterly. Learn more about our budget response teams.
In addition, Vice President for Administration and Finance Josee Larochelle will be holding community gatherings in September 2018 to provide an update on the Financial Stability Plan presented to the campus during 2017-18. The schedule for the community gatherings is as follows:
|Division / Department||Date||Time||Location|
|School of Business and Economics||Friday, 9/7/2018||9 a.m.||Hermes Room|
|Branch Campus at Queensbury||Friday, 9/7/2018||9 a.m.||via ZOOM|
|School of Arts & Sciences||Friday, 9/7/2018||11 a.m.||Cardinal Lounge|
|School of Education, Health & Human Services||Monday, 9/10/2018||9 a.m.||Cardinal Lounge|
|Student Affairs Division||Monday, 9/10/2018||1 p.m.||Cardinal Lounge|
|Institutional Advancement Division||Wednesday, 9/12/2018||9 a.m.||Hawkins 025|
|Library and Information Technology Services||Wednesday, 9/12/2018||2:30 p.m.||Cardinal Lounge|
|President's & Provost's Office||Monday, 9/24/2018||2 p.m.||Cardinal Lounge|
For the Administration and Finance Division, budget updates will be provided at the Divisional Meetings scheduled at the following times:
|Wednesday, 10/10/2018||9 a.m.||Alumni Room|
|Thursday, 10/11/2018||2 p.m.||Alumni Room|
March 9, 2018 - Spring 2018 Community Gatherings
Over the past weeks, members of the campus community had the opportunity to attend a Financial Stability Plan Update presentation. For those present, thank you for attending. The level of engagement and inquiry was outstanding. Our plan for attaining financial stability is a collaborative effort and we are confident that our campus community has the ability and stamina to achieve the plan.
Highlights from the presentation include the following:
- Fall 2017 enrollment exceeded the goal by 3%, which results in increase tuition revenue.
- There was no change in the expected temporary salary reductions, however cuts in permanent salaries will extend into FY 2021-22.
- Permanent Salary and Expense reductions totaled $662,000 in FY 2017-18 and $1.5 million in FY 2018-19.
- The structural deficit in FY 2021-22 increases from $2 million to $4.2 million due to the elimination of the expected 10% reduction in scholarship offerings. We are working towards a balanced budget by FY 2021-22 through cost savings and efficiency and revenue generations committees.
The New York State budget was passed on March 30, 2018. The highlights as related to SUNY Plattsburgh are as follows:
- No increase in State funding.
- EOP and SBDC funding is kept at the current FY 2017-18 level with no reductions.
- $18 million for Performance Improvement Plan is kept at the current FY 2017-18 level
- $4 million for OER SUNY funding.
If you were unable to attend the presentation, you can learn more about it here.
Feb. 28, 2018 - Budget Response Teams Moving Forward
In consultation with President's Cabinet,Vice President Larochelle formed two budget response teams, each one focused on a critical area of our Financial Stability Plan.
- The Cost Management and Business Process Improvement Team will be examining opportunities within Business Affairs to generate cost savings and reviewing ways to make our business processes more efficient and effective. As the focus is internal, membership in this team will come from the Business Affairs Division.
- The Revenue Generation (Capitalizing on our Assets) Team will be reviewing opportunities to leverage the College’s assets (such as facilities and intellectual property to name a few) to generate additional revenue to support the College. As this team is focused on a broader review of revenue opportunities, membership will come from across campus.
The teams will begin with the budget suggestions submitted by our community but also engage with departments on additional opportunities. It is important to note that these initiatives are long-term. We anticipate some quick wins for each of these teams, but many changes will take time. Stay tuned for updates on each teams activities.
Fall 2017 Financial Stability Plan Highlights
In September 2017, the President's Cabinet approved a budget plan for FY 2017-18 through 2021-22. The goal of this plan is to ensure that the College reaches a stable financial position by FY 2021-22. Details of this plan can be found below.
- Like many other institutions of higher education, SUNY Plattsburgh's enrollment has been declining in recent years. Between FY 2013-14 and FY 2016-17, the College saw an 8.6% decrease in the number of students enrolled.
- The amount of funding from state appropriations continues to decrease. Student tuition and fees remains our primary source of revenue.
- Enrollment is not projected to grow for the next five years. We plan to enroll approximately, 5,500 students annually through FY 2021-22.
- Declining revenue means that the College has a structural deficit (the difference
between revenue and expenses). The deficit has grown significant in the past two years
at a rate that cannot be sustained. For FY 2017-2018, the deficit is $8.4 million
dollars. The following have contributed to this growth:
- Unfunded contractual salary increases
- Increases in scholarship offerings
- Increases in utility costs
- Our Financial Stability Plan will help us to close this gap by cutting expenditures in a way that aligns with our values as a community and adheres to certain guiding principles.
- Expenditures will be cut through a combination of permanent and temporary salary savings, reducing institutional scholarships, and decreasing OTPS (non-personnel) expenditures.
- The plan does not include retrenchments of current positions. However, some positions may be left vacant for a longer period, may not be filled (either permanently or on a temporary basis), and some term positions may not be renewed. All positions will be thoroughly reviewed by President's Cabinet.
- The College encourages members of our community to share ideas for cutting costs and generating revenue. We know that there are many great ideas in our community and we want to hear from you!
- By FY 2021-22, the College can achieve financial stability!
There is no doubt that the path ahead will includes some challenges. We will need to engage with each and have hard conversations about our future. But, the College has been through challenging times before and we have risen to these challenge and forged a stronger future. Together, we can ensure that SUNY Plattsburgh's future remains, in the words of Professor Emeritus Doug Skopp, "Bright with Promise" well into the future.
Nov. 6, 2017 - Suggestions Rolling In
As of Nov. 2017, the College has received more than 120 suggestions to cut costs or raise revenue from our campus community. To assist the College's leadership with evaluating the many suggestions received, a budget reduction evaluation workgroup has been formed. This group is currently in the process of reviewing ideas and formulating recommendations to campus leadership for further consideration. We anticipate having more information to share later this semester.
The number and quality of the suggestions are a reflection of the shared commitment that our community has to its future. Thank you to the many individuals who have already submitted ideas and please continue to share new ideas with us.
Sept. 27, 2017 - "Coffee with Clark"
Coming in October, please join Clark Foster, Associate Vice President of Administration and Finance, for "Coffee with Clark", an opportunity to share your ideas for cutting costs or raising revenue. Do you see ways for the College to save money? Come enjoy a cup of coffee with Clark and share your ideas. All ideas are welcome and will be reviewed.
Sept. 8, 2017 - Community Gatherings
Interim Provost and Vice President for Academic Affairs Michael Morgan and Vice President for Administration Josee Larochelle are holding community gatherings in Sept. and Oct. 2017 to discuss achieving financial stability and initiatives to ensure the College's success. If you have not had a chance, please attend one of the sessions to learn more about the College's budget situation and our plan for financial stability.
|Arts and Sciences (Sciences and Social Sciences)||Thursday, Sept. 14||1 - 2:30 p.m.||200 Yokum Hall|
|Education, Health and Human Services||Friday, Sept. 15||12:30 - 2 p.m.||ACC Alumni Conference Room|
|Business and Economics||Friday, Sept. 15||3 - 4:30 p.m.||Au Sable Hall Hermes Room|
|Student Affairs||Monday, Sept. 18||10 - 11:30 a.m.||ACC Alumni Conference Room|
|Business Affairs (except Operational Service Unit)||Tuesday, Sept. 19||8:30 - 9:30 a.m.||ACC Alumni Conference Room|
|Arts and Sciences (Arts and Humanities)||Tuesday, Sept. 19||2 - 3:30 p.m.||200 Yokum Hall|
|Library and Information Technology Services||Wednesday, Sept. 20||1:30 - 3 p.m.||ACC Cardinal Lounge|
|Business Affairs (Operational Service Unit)||Monday, Sept. 25||8 - 9 a.m.||200 Yokum Hall Room|
|Business Affairs (Operational Service Unit)||Monday, Sept. 25||2 - 3 p.m.||208 Yokum Hall Room|
|Academic Affairs (Direct Reports)
and President's Office
|Tuesday, Oct. 3||10 - 11:30 a.m.||ACC Cardinal Lounge|
|Institutional Advancement||Wednesday, Oct. 25||1:30 - 3 p.m.||Kehoe 6th Floor Conference Room|
|Branch Campus at Queensbury||Thursday, Oct. 26||Noon - 1:30 p.m.||RHEC SUNY Adirondack|
If you are unable to attend a presentation for your area, please consider attending on an alternate date. Additionally, employees in non-academic roles within Academic Affairs who don’t serve in a specific school are welcome to attend on a day and time that is best for them.
Want to Know More?
We encourage you to take the following steps:
- Review the Financial Stability Plan Fall 2019 Updated (PDF)
- Review the Financial Stability Plan Spring 2019 Updated (PDF)
- Review the Financial Stability Plan Fall 2018 Update (PDF)
- Review the Financial Stability Plan Spring 2018 Update (PDF)
- Review the Fall 2017 Financial Stability Plan Presentation (PDF)
- Visit our frequently asked questions about the Financial Stability Plan
- Stay tuned for updates about the Financial Stability Plan
- Share your ideas for costs savings and revenue generation.