University of Virginia
Budget Summary – All Divisions
2004-2005
UNIVERSITY OF VIRGINIA
BUDGET SUMMARY
2004-2005
Cover photograph courtesy of Michael K. Higgins
University Of Virginia – All Divisions
2004-2005 Operating Budget Summary
The operating budget for the period July 1, 2004 through June 30, 2005 for the
University of Virginia will total $1.7 billion, an increase of $120.3 million or 7.5 percent
compared with the 2003-04 projection. Of the total budget, $990.3 million or 57.2 percent
relates to the Academic Division (including the Schools of Medicine and Nursing), $720.1
million or 41.5 percent to the Medical Center, and $21.7 million or 1.3 percent to the
University of Virginia’s College at Wise (Wise).
Operating Budget
(in millions)
Academic Division
Medical Center
Wise
Total
2004-05
Budget
$990.3
$720.1
$21.7
$1,732.1
2003-04
Projection
$929.6
$661.9
$20.3
$1,611.8
Increase
$60.7
$58.2
$1.4
$120.3
%
Increase
6.5%
8.8%
7.1%
7.5%
2003-04 2002-03
Budget
Actual
$895.1
$865.3
$665.4
$614.5
$19.8
$19.8
$1,580.3 $1,499.6
Sources of the Operating Budget
As shown below, patient revenues (41.5 percent) provide the greatest proportion of
the operating budget, followed by grants and contracts (16.9 percent) and tuition and fees
(15.1 percent). Auxiliary enterprise operations will provide 9 percent of the operating
budget, while the state general fund appropriation will contribute 8.1 percent and gifts and
endowment distributions will provide 7.6 percent.
2004-05
Gifts &
Endow
7.6%
Other
1.8%
2003-04
Patient Rev.
41.5%
State Gen'l
Funds
8.1%
Patient Rev.
41.1%
Gifts &
Endow
8.3%
Auxiliaries
8.7%
Auxiliaries
9.0%
Tuition &
Fees
15.1%
Other
State Gen'l
1.6%
Funds
8.2%
Grants &
Contracts
16.9%
Tuition &
Fees
15.1%
Grants &
Contracts
17.0%
Projected Change in Net Assets
For the fiscal year 2005, there is a projected surplus of revenues after non-operating
items of $92.4 million. After adding back funded depreciation at the Medical Center, there
are planned transfers to contingency, debt service, renovation, replacement, and expansion
reserves of $102.5 million, leaving a projected net change in assets of $28.5 million. In the
Academic Division, there is an $11.3 million reserve for educational and general salaries
1
($5.8 million), unallocated base operating support ($3.7 million) and contingencies. The
remaining Academic Division transfer to reserves of $28.8 million and the projected
surplus is attributable to the auxiliary units. The $51.6 million surplus after non-operating
items in the Medical Center will be used, along with funded depreciation, to provide a
$62.5 million transfer to reserves and capital requirements, leaving a $27.8 million
projected increase in net assets. Sources of funds at Wise will equal projected usages.
2004-05 Sources and Uses - All Divisions (in millions)
Academic Medical
Division
Center
$990.3
$757.9
(949.5)
(720.1)
13.8
40.8
51.6
Operating revenues
Operating expenses, net of internal recoveries
Non-operating revenues and (expenses)
Surplus after non-operating items and before transfers
Add back funded depreciation
Less: Transfers to contingency and capital reserves
(40.1)
Increase (decrease) in net assets
$ 0.7
Wise
$21.7
(21.7)
-
Total
$1,769.9
(1,691.3)
13.8
92.4
-
38.7
(102.6)
$ -
$ 28.5
38.7
(62.5)
$ 27.8
Employment Levels – All Divisions
The University has planned for 13,510 full-time equivalent (FTE) positions for
2004-05, an increase of 2.2 percent or 285 FTEs from the 2003-04 revised budget levels.
The Academic Division is expecting 7,581 FTEs, an increase of 139 FTEs, the Medical
Center is projecting 5,695 FTEs, an increase of 146 over current staffing levels, and the
College at Wise employment will remain at 234 FTE.
History of Employment Levels
15,000
12,500
10,000
7,500
5,000
1998
1999
UVA
2000
2001
2002
Med Ctr
2003
2004
2005
Wise
Key Issues
For all three divisions, the long-delayed state budget provided challenges in
developing an operating budget for 2004-05. However, the Senate and the House of
Delegates reached agreement on a budget for the 2004-06 biennium on May 7, 2004.
2
While Governor Warner has not yet signed the bill, significant changes are not expected by
the Governor’s office, so the Academic Division and Wise budgets reflect the budget
approved by the General Assembly. The Medical Center reflects full reimbursement of
indigent care costs, as included in the final budget.
Faculty and staff compensation and retention remain a concern for all divisions and
will be discussed in later sections. For the Academic Division, actions by the Board of
Visitors helped to focus several University planning and funding priorities in
compensation, research and financial aid. Later sections will outline how these actions are
reflected in the 2004-05 budget.
For the Medical Center, providing quality patient care while continuing to earn an
appropriate operating margin to fund its capital needs is the top priority. The Medicare
Prescription Drug and Modernization Act of 2003 (MMA) is the most significant health
care legislation in a number of years. This legislation will provide increased Medicare
payments to the Medical Center, as well as provide the opportunity for future decreases in
pharmaceutical costs. Labor shortages and increases in pharmaceutical (before MMA
changes are realized) and medical device expenses continue to place upward pressure on
the ability to provide quality patient care. The 2004-05 fiscal plan features the continued
implementation of the Integrated Health Information Management System and the Decade
Plan. The plan also includes the opening of two new operating rooms as an integral part of
the hospital expansion project, expansion of bed capacity by twelve, enhanced personnel
compensation packages consistent with the market, and expansion of the imaging center.
Comparison of the Operating Budget to Audited Financial Results
The University’s 2004-05 operating budget describes a financial plan that is
developed on a basis that is separate but related to the method of preparing the audited
financial statements, which are developed in accordance with generally accepted
accounting principles (GAAP). Because the operating budget and the audited financial
statements are prepared with somewhat different objectives and are based on differing rules
and conventions, it is not always obvious how they are related. In some cases, similar
descriptions are used in both reports even though the precise definitions and the specific
amounts are not identical. However, both sets of figures are accurate for their particular
purposes, and both are drawn from the University’s financial applications.
Rather than reporting on operating results after they have occurred as in the audited
financial statements, the annual operating budget reflects the basis on which budget
decisions are made and executed. The objective of the operating budget is to accomplish
current University goals while ensuring that our physical and financial resources are
appropriately preserved for the longer term. It is the responsibility of the University
administration to propose annual plans which keep expenditures and revenues in balance.
The schedule from the audited financial statements that most closely relates to the
annual operating budget is the Statement of Revenues, Expenses, and Changes in Net
Assets (SRECNA). Much of the lower half of the SRECNA deals with non-operating
3
activities affecting the balance sheet and the long-term value of assets, such as realized and
unrealized appreciation on the endowment, gifts received and additions to the endowment,
pledges from donors, and funding received for capital projects. In accordance with
standards from the Governmental Accounting Standards Board, the SRECNA also
classifies payments from the Commonwealth – the general fund appropriation and the
reimbursement of indigent care costs – as non-operating activities. The Medical Center’s
budget proposal includes some items classified as non-operating on the SRECNA,
including the reimbursement of indigent care costs. However, for the Academic Division
and Wise, the operating budget is concerned with the annual impact on net assets and,
accordingly, only includes those items impacting the annual view – such as general fund
appropriations. Projecting future balance sheet position is not a part of the annual
budgeting process.
The upper sections of the SRECNA plus the payments from the Commonwealth
focus on basically the same set of revenue and expense items as the annual operating
budget. However, this presentation differs from the operating budget due to the different
rules and conventions employed. Several of those differing rules are outlined below:
•
The GAAP financial statements are prepared on an accrual basis, while the
operating budget is prepared on a cash basis, which is consistent with the state’s
operating budget.
•
GAAP accounting rules require tuition revenues to be shown net of scholarship
allowances, while the operating budget shows tuition and fees as gross income and
the full amount of all student aid as an expense. It is important in the operating
budget to highlight both the revenue impact of tuition planning, as well as the
corresponding student financial aid requirements, including the funding source for
financial aid.
•
In the GAAP financial statements depreciation expense is recognized for buildings
and equipment. In the Academic Division’s operating budget, depreciation is not
funded and non-capital outlay purchases are recognized as expensed rather than
spread over the useful life of the purchase. Additionally, Academic Division
expenditures for debt service, major repair or renovation work occur within the
reserve accounts – and off the operating budget. Because of this treatment, the
Academic Division’s operating budget includes the transfer from operations
(primarily for auxiliaries) to the reserves in the year the transfer is made. In the
auxiliary sections beginning on page 21, planned reserve expenditures for the
upcoming year are disclosed.
•
Alternatively, the Medical Center’s operating budget includes funded depreciation
for buildings and equipment similar to the GAAP treatment, but excludes transfers
to reserves.
•
GAAP statements recognize unrestricted income when received and reflect actual
endowment performance. In the operating budget, the source of expenditures is
4
shown rather than actual revenues recognized. Unrestricted income, including gifts
and indirect cost recoveries, is shown only as it is to be expended. Endowment
distributions are included only to the extent that expenditures are anticipated.
•
Direct lending is included in the GAAP statements as federal grants and contracts,
but excluded from the annual operating budget.
•
Fringe benefit expenditures are included in the operating budget using pooled
benefit rates; the GAAP basis statements include the impacts of the actual
expenditures as well as the related reserve liabilities and assets.
•
Self-funded insurance and healthcare reserves are excluded from the operating
budget, but are included in the GAAP-based financial statements.
At each Finance Committee meeting, the administration provides an overview of
actual results as compared to the budgeted financial plan for the most recently ended
quarter. In this quarterly overview, actual results are not presented in accordance with
GAAP, but rather, are presented consistent with the budget plan as described above.
Therefore the actual results will not tie back to audited financial statements, but will
provide a useful basis for comparison to the previously approved budget plan. For the first
time in 2004-05, the June 30, 2003 actual results will be incorporated into the budget plan
shown on page 13.
Another change in the presentation of the 2004-05 budget is related to the treatment
of the direct expenses for grants and contracts. In the past, direct sponsored activity has
been aggregated in a single line, ignoring the differing purposes for the grants and
contracts. While most sponsored activity is for research (approximately 90 percent), there
are a few grants provided for instruction or public service purposes. Accordingly,
budgeted grant and contract direct expenses are distributed over the expected program of
activity.
Performance Measurement
Periodically – most recently in 2001 – the Academic Division reports its
performance on a set of measures to the State Council of Higher Education in Virginia
(SCHEV). From these reports, SCHEV has created its Reports of Institutional
Effectiveness (ROIE) which are published on its web-site. This report is intended to
provide meaningful information on the academic quality and operational efficiency of the
University. Selected measures from the most recent report are presented on page 43.
The Medical Center has established a benchmark group of 29 academic medical
centers which are members of the University Health System Consortium, manage more
than 400 beds, and have a Medicare case mix index of greater then 1.6. Periodically, the
Medical Center compares itself against these peers on several critical indicators. These
measures are presented in the appendix on page 49.
5
Academic Division Budget Development
The first step in the budget development process is the projection of funds available
for expenditure. Actions by the Board of Visitors – approval of housing, dining,
mandatory fee, and tuition rates – and the General Assembly – passage of a biennial budget
– are steps in that process. As previously mentioned, the General Assembly approved the
2004-06 budget just as the University was finalizing its budget for 2004-05. The Academic
Division budget reflects the additional base operating support and the expected 3 percent
salary increase approved by the General Assembly on May 7th.
The second step of budget development is the determination of expenditure targets
for each vice president. The targets are based on preliminary budget assumptions approved
by the President and reported to the Board of Visitors in October 2003. The target
development process is designed to give maximum flexibility to vice presidents in the
allocation of resources among their activities.
The absence of an approved state budget during the development of the
University’s 2004-05 budget left open the question of whether there would be a state
authorized salary increase. Accordingly, departmental targets have not been adjusted for
any potential salary increase. With the approval of the budget – and a 3 percent salary
increase in November 2004 – a $4.5 million salary reserve was set aside from general and
non general funds. The University will incur increased benefit costs, as the employer share
of employee health insurance premiums has increased by an average of 5.3 percent. While
the University will receive a portion of these increased costs from state general funds, the
majority of the cost will be covered by tuition revenues. This increase has been allocated
to departments in the 2004-05 budget. As is consistent with the past few years, no
incremental funding for increases in "other than personal services" budget categories has
been included in the budgets or targets except as specifically identified in subsequent
sections of this narrative.
In the final step of budget development, vice presidents are given an opportunity to
present prioritized lists of resource needs that cannot be addressed within the target budgets
provided. All available funds are then allocated in an addenda process. Incremental tuition
and fee revenue, indirect cost recoveries from grants and contracts, new state general
funds, and private funds provided in excess of $12.3 million for the addenda process.
During the majority of the budget process, it was assumed that a minimum level ($221,000)
of new general funds would be available for the University. With the final approval of $3.8
million in base operating support, a reserve has been set aside to allocate to the highest
priority instructional areas. With the base addenda allocation (before the new state
operating support), the University was able to meet all mandatory commitments, reestablish a $1 million reserve for emergency needs, and meet some critical needs for the
next fiscal year. More information concerning the 2004-05 addenda allocation is included
in the expenditure budget analysis later in this document and an update of how the $3.8
million reserve will be allocated will be presented at the budget presentation to the Finance
Committee.
6
Planning Priorities
Schools and departments have been encouraged to use resources from all available
sources to meet the priorities that have been identified in the University’s strategic
planning efforts. Within the financial and staffing limitations established by the budget,
vice presidents, deans, and directors of major units of the University have the flexibility to
re-allocate available resources to their highest priority program requirements.
The Board-initiated Budget Defense Fund (BDF) has been critical in assisting in the
investment of resources to priority areas and in the retention of key faculty during this
period of diminished general fund support. During 2003-04, the BDF provided $1.7
million for core library materials, to maintain existing library hours, and to continue the
implementation of Alderman’s Library of Tomorrow initiative. Also, $500,000 was used
for the purchase of specialized instrumentation for the Institute for Nanoscale and Quantum
Engineering, $290,000 was used to continue the implementation of the University Press’s
electronic imprint conversion, $200,000 was provided to partially restore faculty travel in
the College, and $140,000 was provided for faculty retentions. Remaining allocations were
for such varied critical needs as climate control in the UVa Art Museum, professional
development for Architecture faculty, fellowships for the Woodson Institute, staff support
for Nursing, and base staffing needs in the central financial support areas.
This funding has proved to be successful in aiding faculty retention and meeting
critical needs on a temporary basis. Accordingly, the University proposes continuation of
the fund – at $3 million annually - for one-time needs. This level of funding is sustainable
due to increased investment earnings from the Board’s decision to invest a portion of its
cash balances in the Pooled Endowment as opposed to low-yield, short-term investments.
The Health System’s Decade Plan
The Decade Plan – a joint planning effort of the School of Medicine, School of
Nursing, the Health Sciences Library, the Medical Center, and the Health Services
Foundation – has charted the ways in which the Health System will create innovative
“Models for all of U.S.” in areas such as patient service, translational research from cell to
bedside, and professionalism in teaching and service to the community. In 2003-04, the
School of Medicine has noted progress in several important areas:
•
Establishment of the Academy of Distinguished Educators, which recognizes and
rewards excellence in teaching.
•
Implementation of the Leadership in Academic Medicine Program, designed to
foster the development of future leaders who understand the particular issues
involved with academic medical education and who will develop the skills to
assume positions of vision and leadership.
•
Initiation of the first class of Master of Public Health students.
7
•
Reorganization of the graduate programs to attract a broader pool of applicants and
provide them with greater flexibility by offering a core of courses and broad
exposure before selecting an area of specialty.
•
Development of major policies related to research resources, most notably the space
productivity database and the research space productivity utilization policy.
•
Establishment of the Research Advisory Committee (RAC) to advise the dean on
research directions, policies, and allocation of research support funds, including
new faculty positions.
•
Improvement in research infrastructure to support investigators and the hiring of an
Assistant Dean of Research Support/Scientific Director of the RAC.
During 2004-05, the School of Medicine will focus on curriculum redesign,
incorporating the use of simulators, providing for clinical activities earlier in the
curriculum, and maximizing teaching of the basic sciences; community outreach activities,
and the creation of a development plan for the decade.
Key Issues
For the Academic Division, the most critical issue continues to be diminishing state
support, as well as the difficulty in developing long-term financial plans within the shortterm focus of the state. In January 2004, the University, along with William and Mary and
Virginia Tech, submitted legislation to the General Assembly to enact the "Commonwealth
Chartered Universities and Colleges Act.” The legislation represents the next step in an
evolutionary process of gaining more delegated authority from the state. Under the new
model, the state would limit its financial appropriations to these universities to less than
what would traditionally be expected. In exchange, the universities would no longer be
subject to certain state personnel, procurement and capital project regulations. These two
measures would promote substantial savings for both the state and the institutions involved.
While the legislation was carried over for consideration by the 2005 General Assembly, a
joint study resolution was passed by both houses that established a 12 member committee
to examine the issues and law relating to the feasibility and practicability of restructuring
the administrative and financial relationships between the Commonwealth and its public
institutions of higher education.
Faculty and staff compensation and retention are another concern. In October 2003,
the Board of Visitors approved a resolution to restore faculty compensation to nationally
competitive levels by 2006-07 and to preserve market-driven/performance-based
compensation for classified employees. The first step of this plan was implemented in
November 2004 with a supplemental 1.75 percent increase for faculty to be used in
targeted areas, $250,000 to be strategically allocated to classified staffing areas with the
most critical needs, and a permanent $200,000 pool provided for one-time bonuses and
awards to outstanding classified performers. These amounts have been fully funded in
2004-05.
8
Preliminary review of the 2003-04 average salary for University teaching and
research faculty compared to other institutions in the American Association of Universities
(AAU) demonstrates that the 1.75 percent supplement initiated by the Board of Visitors
enabled the University to move up from the 30th rank to the 24th rank. If the University had
just implemented the state-authorized 2.25 percent increase, the ranking most likely would
not have changed.
The General Assembly has approved a 3 percent salary increase for faculty and
staff. The University’s 2004-05 budget includes a $4.5 million reserve from tuition and
general fund resources to provide this increase in November 2004. An additional reserve
of $1.3 million has been set aside to address compensation for teaching and research
faculty in an effort to further increase competitiveness of the University’s compensation
packages. Private resources may also be set aside for the temporary funding of additional
compensation as directed by the board, with the provision that 2005-06 tuition increases
will provide the on-going support.
While defining and funding appropriate levels of graduate financial aid through
remission, fellowships, and stipends has been a concern of the University’s for several
years, the significant undergraduate tuition increases cause the University to also focus on
undergraduate financial aid in 2004-05. In February 2004, the Board of Visitors committed
to a ground-breaking financial aid plan – Access UVa – which will ensure that an
undergraduate degree at the University remains affordable to all who qualify for admission,
regardless of economic circumstance. The 2004-05 budget includes the cost for fully
implementing the first step of the plan – to offer 100 percent of federally demonstrated
need to all undergraduates who qualify – and the first phase of the second step – to offer
100 percent grants to fund the federally demonstrated need for first year undergraduates
with a family income at or below the 150 percent of poverty level ($27,600 in 2003). The
budget includes funds to provide a new financial aid professional to implement the
program and to market and promote the plan to prospective undergraduates, their parents,
and advisors.
In August 2003, October 2003, and February 2004 at the meetings of the
Educational Policy Committee and the full Board of Visitors, the Vice President and
Provost and the Vice President for Research presented an initiative to enhance research at
the University over the next five years, requesting the Board of Visitors approve $60
million in institutional resources to match $65.8 million from school reserves, indirect cost
recoveries, gifts, and state general obligation bond proceeds. The Board of Visitors
approved a plan to provide $20 million (of $60.8 million) to complete the funding required
to begin the construction of Medical Research Building #6 (MR-6), $5 million (of $10
million) to construct an Advanced Research and Technology (ART) facility, and $35
million (of $50 million) to recruit and hire ten world class faculty.
As directed by the Board, this funding is to be included and approved as a part of
the annual budget process. In 2004-05, the University will contract with a professional
planner to evaluate the space requirements for the ART facility at Fontaine Research Park.
Work will also begin on identifying appropriate science and engineering programs to
9
occupy the building. The planning and design phase of MR-6 will be completed and
construction will begin in 2004-05 with the first phase of funding provided by the
Commonwealth’s General Obligation Bond issuance. University funding for these two
facilities will not be required until after bond issuance anticipated for 2006. Recruitment
for the world-class research faculty will continue in 2004-05, though it is not anticipated
that any expenditures will be needed prior to the 2005-06 academic year. To publicize the
program during the upcoming faculty recruiting cycle, the University will advertise in
Science - one of the most prestigious and frequently read science journals, as well as
develop a recruiting brochure for use with development fundraising and for recruiting
prospective hires. The Vice President for Research will continue to promote the plan
across Grounds and will finalize an inclusive nomination process. An internal committee
of prominent scientists will be assembled to aid in the recruiting and nomination effort.
Integrated Systems Project
The Integrated Systems Project, begun in 1999, was charged with implementing an
integrated financial, human resources, and student information system for the University.
In May 2004, the University successfully completed its first major upgrade of the financial
and human resource systems. In 2004-05, the student information phase of the project will
begin. The Provost is currently recruiting a project director and expects to complete a
comprehensive implementation plan and begin implementation by June 2005.
Higher Education Equipment Trust
The 1986 General Assembly authorized the establishment of a statewide Higher
Education Equipment Trust designed to meet the high priority equipment needs of
institutions of higher education. Through June 30, 2003, the University has received $89.4
million. The next allocation is anticipated for July 2004, at which time the University will
receive $9.4 million. This increase will be partially funded from a fee on out-of-state
students in 2005-06 when the debt service will begin. The University will be responsible
for generating $774,000 from out-of-state students – approximately $115 per full-time
student – to support this debt issuance. The University plans to allocate these funds in a
strategic manner – to assist in new faculty start-up packages (including funding of the
Board’s research commitments in future years), to purchase critical research equipment,
and to meet critical technology purchases which were deferred during the recent budget
reductions. This funding comes to the University as reimbursement of purchases, so
neither the allocation nor the related purchases are included in the University's 2004-05
budget.
10
11
Academic Division Budget
The Academic Division 2004-05 budget, as shown below, is proposed at $989.6
million including $40.1 million in transfers to reserves, an increase of 6.5 percent over the
2003-04 projection of $929.6 million. Supplemental budget information provides more
detail about the fund sources (page 37) and uses (page 41).
Academic Division Operating Plan
(in thousands)
2003-04
Approved
Budget
2002-03
Actual
Results
7.2%
6.0%
6.4%
(3.2%)
(1.4%)
23.8%
11.2%
6.4%
$238,640
121,091
244,160
68,059
65,910
23,084
134,567
895,511
$206,845
134,936
242,890
64,852
62,292
19,360
137,111
868,286
8,622
11,325
(847)
136
2,211
7,246
4,896
3.8%
4.4%
(0.8%)
0.7%
3.8%
17.6%
5.6%
234,501
228,207
99,851
19,189
48,424
50,639
80,133
214,645
230,875
87,412
17,814
55,638
45,725
77,478
24,179
28,604
14,695
41,505
4,688
4,199
2,175
685
19.4%
14.7%
14.8%
1.7%
23,657
28,072
14,695
42,081
24,370
30,487
13,105
41,580
949,521
904,185
45,336
5.0%
869,449
839,129
28,834
5,800
5,457
25,460
-
3,374
5,800
5,457
13.3%
25,605
26,211
-
-
-
989,612
929,645
59,967
6.5%
895,054
865,340
$696
$718
$457
$2,946
2003-04
Projected
Results
Change
$256,426
128,894
292,412
66,247
65,132
30,938
150,260
990,308
$239,231
121,643
274,859
68,438
66,045
24,986
135,161
930,363
$17,195
7,251
17,553
(2,190)
(913)
5,951
15,099
59,945
237,554
268,006
102,251
18,947
61,160
48,385
92,488
228,932
256,681
103,098
18,811
58,949
41,139
87,592
28,867
32,803
16,870
42,190
2004-05
Proposed
Budget
Sources of Available Funds
Tuition and fees
State general fund appropriations
Sponsored research direct costs & indirect cost recoveries
Endowment distributions projected for expenditure
Private gifts projected for expenditure
Sales, investment & other projected for expenditure
Auxiliary enterprises
Total Sources of Available Funds
%
Change
Uses of Available Funds
Direct instruction
Research and public service
Library, information tech., and academic administration
Student services
General administration
Operation and maintenance of physical plant
Scholarships, fellowships and other graduate support
Athletics
Bookstore
Housing and conference services
Other auxiliary operations
Total operating expenses
Transfers to reserves for renewal, replacement, and debt
Reserve for salary increases
Reserve for base operating needs and contingencies
Total Uses of Available Funds
Surplus (deficit)
$
(22)
(3.1%)
As shown on the following page, reimbursement of direct and indirect costs of
grants and contracts (29.6 percent) provide the greatest proportion of the operating budget,
followed by tuition and fees (25.9 percent) and auxiliary enterprises (15.1 percent). Gifts
12
and endowment distributions will provide 13.3 percent, while the state general fund
appropriation will contribute 13.0 percent and the remaining 3.1 percent is generated from
investment income and other miscellaneous revenues.
2004-05
Gifts and
Endow.
13.3%
Aux. Ent.
15.1%
2003-04
Gifts and
Endow.
14.5%
State Gen'l
Funds
13.0%
Other
3.1%
State Gen'l
Funds
13.1% Other
2.7%
Aux. Ent.
14.5%
Grants &
Contracts
29.5%
Grants &
Contracts
29.6%
Tuition & Fees
25.7%
Tuition & Fees
25.9%
Historical Growth in the Academic Division Budget
The Academic Division budget has consistently increased over the years, even
through the years of capped and reduced tuition and general fund budget reductions. The
following chart shows the ten-year trend for the funding sources of the Academic Division.
10 yr.
Inc.
Avg.
Inc.
Law, Darden, McIntire
Grad Tuition & Fees
180%
18%
Auxiliaries
139%
14%
Investments and Other
113%
11%
Grants & Contracts
105%
11%
Gifts & Endowment
96%
10%
$1,000
$900
$800
$700
$600
$500
$400
$300
$200
$100
Tuition & Fees, excl. Law,
Darden, McIntire Grad
73%
7%
State General Fund
10%
1%
Total
83%
8%
2004-05
2003-04
2002-03
2001-02
2000-01
1999-00
1998-99
1997-98
1996-97
1995-96
1994-95
$0
The budget has increased $450 million or about 83 percent over the past ten years,
for an annual growth rate of 8 percent. However, the significant growth has been
concentrated in areas other than in core instructional programs. The operating budget for
core instructional and support programs (state general fund appropriations and tuition
revenues other than those generated by the Law School, the Darden School, and the
McIntire graduate programs) has increased by $95 million or 41 percent over the past ten
years, for an annual increase just over 4 percent. The largest percentage increase (180
percent) has been in the tuition and fees from the Law School, the Darden School, and the
McIntire graduate programs. These programs have not been subject to tuition roll-back,
13
freezes and caps imposed by the governors and General Assembly during the period.
Alternatively, they have been encouraged to price their programs closer to market, and,
through financial self-sufficiency and revenue sharing agreements, their educational
programs have directly benefited. $318 million, or 71 percent of the growth over the past
ten years, has been in three areas:
•
Grants, contracts, and indirect cost recoveries have increased $150 million or 105
percent during the period. These revenues reimburse the direct and indirect costs of
sponsored research, and are not intended for core instructional activities.
•
Auxiliary enterprise revenues have increased over $87 million or 139 percent since
1994-95. These revenues are used for the direct and indirect cost of athletics,
bookstores, housing, dining, and other activities which support faculty, staff, and
students, but not core educational activities.
•
Gift, endowment distributions, investment income and other revenues have
increased nearly $81 million or 99 percent over the ten-year period. These
revenues, which have increased due to the exemplary performance of the
endowment and other investment decisions, are generally restricted by the donor
and are used to supplement rather than fund base operating needs.
Funding Sources of the Educational and General Programs
State General Fund Appropriation
State general funds are tax revenues which are appropriated by the General
Assembly for the use of the institution. The state general fund appropriation is made up of
an appropriation for educational and general programs, a special appropriation for specific
programs, and an appropriation for student financial aid.
The 2004-05 budget for general fund appropriations for educational and general
programs will increase $7.3 million or 6 percent increase based upon the 2004-06
Appropriations Act. This increase includes $1.9 million for the general fund portion of the
approved November 2004 increases, $3.8 million for as yet unallocated base instructional
support, the annualization of November 2003 salary increases, and $600,000 for the UVa
Health Plan. The planned allocation of the $3.8 million will be outlined at the budget
presentation to the Finance Committee.
Commonwealth Technology Research Fund awards of $900,000 were included in
2003-04 – the last year of this program to be funded by the state.
It is expected that the Eminent Scholar matching program will remain at $2.9
million. It is projected that endowments eligible for Eminent Scholar matching will
generate $15.1 million in 2004-05. The state will match about 19¢ on the dollar, while the
University adds over half a million dollars or another 3¢ per dollar from private resources.
The following chart shows the University’s standing using the 2003-04 original
state appropriation for each school:
14
School
University of North Carolina - Chapel Hill
University of Michigan - Ann Arbor
University of Maryland
University of Virginia
2003-04 GF per
In-state Student
$19,335
$17,296
$15,384
$8,840
It is anticipated that the 2004-05 general fund appropriations per in-state student for the
University will approximate $9,000.
Non-general Funds
Non-general funds are resources which are generated by the University such as
tuition, indirect cost recoveries, payments from federal agencies and other entities for
research, student and user fees, or gifts and endowment distributions. With the exception
of gifts and endowments, non-general funds are also appropriated by the General
Assembly.
Tuition and Fees
At the time the Board of Visitors considered the 2004-05 tuition proposal, there was
not an approved Appropriation Act which generally outlines the framework for
undergraduate in-state tuition. Accordingly the 2004-05 proposal was developed to
generate the base needs of the institution within the constraints outlined by all three
outstanding budget proposals. The final approved Appropriations Act includes an overall
cap on the total nongeneral fund revenues generated rather than on tuition rates charged to
specific categories of students. The University expects its nongeneral fund revenues to
come in below this cap on revenues in 2004-05. The 2004-05 budget reflects the revenue
to be generated by the approved tuition increases shown in the following chart:
Undergraduate
Graduate
Darden
Law, average increase
Medicine, average increase
In-State
Out-of-State
% Increase % Increase
11.9%
2.9%
19.4%
0.8%
6.8%
5.9%
9.5%
6.5%
9.8%
6.0%
Tuition and fee revenues are projected to increase $17.2 million or 7.2 percent over
the revised 2003-04 budget to $256.4 million. The 2004-05 tuition and fees budget was
developed using approved enrollment projections, as well as recent enrollment trends. The
budget assumes that the current in-state versus out-of-state ratios will remain unchanged.
For 2004-05, the distribution is 68 percent in-state in the undergraduate schools, 46 percent
in-state in the graduate schools, and 45 percent in Law, Darden and Medicine.
The University’s approved enrollment growth plan shows that Fall 2004 ongrounds enrollment will total 19,400 students. Of the expected 12,875 undergraduate
15
students, 68 percent will be Virginians. The off-grounds enrollment projection for the fall
is 3,850 students, of which 92 percent will be Virginians. It is projected that the first year
class will include 3,040 students, while 535 students will transfer to the University.
Approximately $12.9 million of the $17.2 million total tuition increase is allocable
to increases in undergraduate, graduate, Medical School, Summer Session and the School
of Continuing and Professional Studies tuition rates. Approximately $4.0 million of the
incremental tuition revenue is allocable to self-supporting degree programs, including Law,
Darden, McIntire graduate programs, and an Engineering executive-style graduate
program.
Grants, Contracts, and Indirect Cost Recoveries
Based upon the historical activity and the value of new sponsored program awards
during the period July 2003 through March 2004, direct expenditures reimbursed from
grants and contracts are expected to increase by 6 percent over the 2003-04 revised budget.
It is estimated that the expenditure base of indirect cost recoveries will increase by the
same 6 percent in 2004-05; however, an additional 2 percent growth is included related to
the negotiation of a higher indirect cost recovery rate on federal grants and contracts. In
April 2003, the University negotiated a new indirect cost recovery rate of 52 percent, an
increase of 8 percent over the old rate of 48 percent. The impact on indirect cost recoveries
will be gradual (approximately 2 percent over each of the next four years) as the new rate is
applicable only to new federal grants and contracts beginning July 1, 2003.
Total grants, contracts, and indirect cost recoveries are budgeted at $292.4 million
in 2004-05. Indirect cost recoveries will comprise $66.7 million of that total, with direct
costs funded from grants and contracts budgeted at $225.7 million.
Endowment Income and Gifts
Approximately $80 million will be distributed from the pooled endowment fund in
2004-05 to Academic Division units. Based upon historical levels of expenditure and the
changes in the per share distribution amounts, it is projected that an estimated $66 million
will be expended in 2004-05. The entire amount distributed will not be expended due to
donor restrictions on the endowments, unfilled professorships, or accumulations of reserves
for future commitments. Operating expenses funded from gifts are expected to remain
stable at $65 million from the 2003-04 forecast of $66 million, as estimated by the
departments receiving the gifts.
Other Sources of Funds
Other sources including current fund investments and sales and services of
educational departments will contribute an additional $5.9 million which is 23 percent
more than in 2004-05. The substantial increase in this source of revenue is directly related
to the decision two years ago to invest $120 million of cash balances, normally invested in
short-term, low-yield investments, into the Pooled Endowment Fund. This increase in
investment income will be used to fund a portion of the Access UVa funding requirements
as well as the proposed continuation of the Budget Defense Fund – at a level of $3 million on an on-going basis for one-time needs.
16
Operating Budget by Expenditure
Category
Approximately 57 percent of the
Academic Division’s total operating budget
will be expended on personal services as
shown to the right. When financial aid and
auxiliaries are excluded, approximately 71
percent of educational expenditures are for
personal services.
The University has reserved $4.5
million to fund a 3 percent salary increase
for all employees, plus a supplemental $1.3
million reserve to increase the
competitiveness of faculty compensation.
2004-05 Operating Expenditures
$989.6 million
NonPersonal
Services
42.9%
Faculty Sal.
& Benefits
32.3%
Wages 3.3%
GTA/GRA
2.1%
Classified
Sal. &
Benefits
19.3%
The University will incur increased benefit costs, as the employer share of
employee health insurance premiums has increased by an average of 5.3 percent. While
the University will receive a portion of these increased costs from state general funds, the
majority of the cost will be covered by tuition.
Operating Budget by Activity
The following pie charts show the percentage of the total operating budget
dedicated to each major activity:
2003-04
2004-05
Other
13.0%
Financial Aid
9.3%
Financial
Aid
9.4%
Auxiliaries
15.1%
Instruction
25.2%
Academic
Support
10.3%
Auxiliaries
14.5%
Other 12.7%
Instruction
24.6%
Academic
Support
11.1%
Research &
Public Serv.
27.1%
EducationalReand
Budget
searchGeneral
&
Public Serv.
27.7%
Educational and general (E&G) is a term used to describe operations that are related
directly to the University's educational objectives, including the programs of instruction,
research, public service, academic support, student services, institutional support, and
maintenance and operation of physical plant.
17
Direct Instruction
Instruction includes the teaching faculty, support staff, instructional equipment, and
operating costs directly related to instruction, as well as departmental research. The
increase in the 2004-05 instructional budget is $19.9 million or 8.7 percent over the 200304 forecast. Most of the increase is currently held in reserves resulting from the state’s
final budget bill. In addition to November 2004 salary increases for instructional faculty
and support staff, a reserve of $3.8 million in general funds has been set aside to fund the
highest priority academic needs of the University. The plans for the $3.8 million reserve
will be presented during the budget presentation at the Finance Committee meeting.
Technical adjustments to allocate new tuition revenues to the self-supporting degree
programs, to annualize the November 2003 salary increases, and for 2004-05 increased
fringe benefit costs account for much of the remainder of the increase. Other instructional
increases are related to the University’s addenda process: $642,000 to permanently fund
the Academic Transition Program, $582,000 to restore six loan lines to the Provost Office
to use in making critical minority, female, or other priority hires; $330,000 to help fund the
formal marching band instructional program, $200,000 to hire two new Arts and Science’s
faculty in Economics; $250,000 to restore non-personnel costs in the College of Arts &
Sciences; and $157,000 for two new Nursing faculty.
Research and Public Service
This category includes both University-funded research and public service and
sponsored research and public service. University-funded research and public service
includes support for research faculty, as well as the Center for Public Service, the Center
for Advanced Studies, the Center for Politics, Fishery Resource grants, the State
Climatologist, the Institute of Nuclear and Particle Physics, the Virginia Center for
Diabetes Professional Education, the Virginia Foundation for the Humanities, the Institute
of Government, the Women’s Center, the Virginia Film Festival, and non-credit course
offerings. The increase in the 2004-05 research and public service budget is $11.3 million
or 4.4 percent over the 2003-04 forecast. Since the majority (96.8 percent) of sponsored
research falls into this category, this increase is primarily related to the expected 6 percent
increase in sponsored research activity. This is offset by the elimination of the
Commonwealth Technology Research Fund included in this category in 2003-04.
Academic Support
The academic support program encompasses the libraries, academic computing, and
academic administration. The budget for 2004-05 is projected to decrease by 0.8 percent to
$102 million. Increases related to technical adjustments to annualize the November 2003
salary increases and for 2004-05 increased fringe benefit costs are more than offset by onetime carryforward funds included in the 2003-04 revised budget. Base support for these
programs is not decreasing. Other academic support increases are related to the
University’s addenda allocations, including $242,000 for international study initiatives, and
$118,000 for a new room reservation system.
Student Services
The student services program includes those activities whose primary purpose is to
contribute to the students' emotional and physical well-being and to their intellectual,
cultural, and social development outside of the classroom. The student services budget for
18
2004-05 is projected to increase by $136,000 to $18.9 million, almost entirely related to
adjustments to annualize the November 2003 salary increases and for 2004-05 increased
fringe benefit costs. There is one increase through the University’s addenda process to
provide $67,000 for the support of residence staff.
General Administrative Activities
This category includes the executive, financial, administrative, logistical, and
fundraising activities of the University. The general administration budget is projected to
increase by $2.2 million or 3.8 percent in 2004-05. This increase includes technical
adjustments to annualize November 2003 salary increases and for 2004-05 increased fringe
benefit costs. Much of the increase is related to the expected start-up of the student system
phase of the Integrated Systems Project, for which $5.3 million has been allocated for
2004-05, offset by $3.3 million which was included in the 2003-04 budget for the technical
upgrade of the Oracle systems in production.
Operation and Maintenance of Plant
The operation and maintenance program category includes all expenditures for
operating and maintaining facilities, leasing space, and police and security, net of amounts
charged to auxiliary enterprises and the Medical Center. The operations and maintenance
budget is projected to increase $7.2 million or 17.6 percent in 2004-05 compared to the
2003-04 revised forecast, but is actually projecting a slight decrease of $2 million from the
original 2003-04 budget. The revised forecast reflects the fact that a planned 2003-04
transfer to a capital project for upcoming utilities infrastructure work actually occurred a
year earlier in 2002-03. This activity includes approximately $900,000 in new funding
related to increased utilities costs projected for 2004-05.
Student Financial Aid
Student financial aid includes student scholarships, fellowships and other forms of
student assistance exclusive of student loans, student employment, and service scholarships
where service is required of the students receiving the scholarships. The student financial
assistance budget also does not include aid provided directly to students or their families by
third parties. The student financial aid budget promotes student accessibility through
scholarships and fellowships.
Financial aid awards to undergraduate students are based on standard calculations
of the student's financial need. In 2003-04, 25 percent of the undergraduate student body
demonstrated need and the University has met an estimated 92 percent of that need
(including Direct Student Loans). In the continued implementation of Access UVa, in
2004-05, the University will offer 100 percent of demonstrated need to all undergraduates
and will eliminate loans and work study for first year students whose families are at or
below 150 percent of poverty level.
Student financial assistance programs are supported from state general funds,
tuition, endowment income, gifts, and federal sources. The 2004-05 budget for student
financial assistance is $92.5 million, an increase of approximately 5.6 percent over the
19
2003-04 revised budget of $87.6 million.
Over $30.1 million or 11.7 percent of tuition revenue from degree programs is
allocated to undergraduate and graduate financial aid. The University is committed to
working with schools to improve the flexibility and attractiveness of the University’s
graduate support packages in order to become more competitive in attracting top graduate
students. The University funded financial aid to students through the following programs:
•
$9.4 million is allocated to undergraduate aid, allowing the University to offer 100
percent of demonstrated need to all undergraduates and to eliminate loans and
work-study for first year students whose family income is at or below 150 percent
of poverty level.
•
$6.8 million is allocated to the out-of-state graduate student tuition adjustment
program. To qualify for the program, an out-of-state graduate student must be
employed in a significant academic capacity and earn a contract rate of at least
$5,000 during the fiscal year. The maximum award is limited to the differential
between in-state and out-of-state tuition rates. This is a decrease from 2003-04,
reflecting the University’s actions to reduce the per student differential by
increasing in-state graduate tuition significantly while minimizing the increase to
out-of-state graduate tuition.
•
$7.1 million is allocated to enhance the support of graduate teaching assistants, as
the University continues to provide in-state tuition, required fees, and a healthcare
voucher to eligible graduate teaching and research assistants. The increase reflects
the significant increase in graduate in-state tuition, as well as a 34 percent increase
in the full healthcare premium of single coverage for qualifying graduate students.
•
$6.75 million is allocated to in-state and out-of-state graduate fellowships,
including financial aid programs at Law and Darden.
The 2004-05 financial aid budget also includes funding from unrestricted private
resources for: $2.1 million to meet Access UVa requirements, $1.3 million for continued
funding of an undergraduate merit scholarship program established in 1985-86, and
$760,000 for the President's Fellowships for graduate students.
Auxiliary Enterprises
An auxiliary enterprise is an entity that exists to furnish goods or services to
students, faculty or staff and charges a fee that is directly related, although not necessarily
equal, to the cost of the service. Auxiliary enterprises are expected to be self-supporting,
with revenues fully supporting the operating and capital expenditures of the enterprise.
Emphasis is placed on providing safe, effective, and efficient enterprises that are
compatible with and facilitate the accomplishment of the University's primary mission.
Additionally, the Commonwealth requires that auxiliaries be charged an overhead rate to
support the general and administrative services provided by the educational and general
20
operations. In 2004-05, the auxiliaries are charged 7.2 percent of their operating
expenditures – a total of $4.5 million will be recovered by educational and general
activities. In return, auxiliaries are credited with interest earned on their cash balances.
Revenue projections were developed using Board-approved enrollment projections,
housing and dining rates and mandatory non-E&G fees. Increases in student fees support
operating cost increases in University Transit, Recreational Facilities, Athletics, Student
Health, and Newcomb Hall.
Revenues from all auxiliary enterprises are estimated to total $150.3 million in
2004-05, an increase of 11.2 percent over the 2003-04 revised budget. Auxiliary enterprise
expenditures, including transfers to reserves, are projected to increase from $134.4 million
to approximately $149.6 million. In the development of the auxiliary enterprise budgets
for 2004-05, the University has continued to place emphasis on the maintenance of prudent
reserves for the rational and systematic renewal and replacement of equipment and
facilities. Detailed budget information, including projected expenditures from repair and
renovation (R&R) reserves, for the major auxiliary enterprise units follows.
Athletics
Athletics revenues are increasing by 15.2 percent to $31.5 million in 2004-05. This
increase reflects higher football revenues from an aggressive marketing plan and on-field
success, athletic student fee increases, greater Atlantic Coast Conference distributions, and
some success in generating private gifts for operations. The 2004-05 expenditures and
transfers to reserves are expected to be $31.4 million, exclusive of $9.1 million in student
athlete scholarships, an increase of $4.2 million over the 2003-04 revised budget. This
activity leaves a net surplus of $125,000. Increases in available funds will be directed
toward the program improvements as outlined in the Five Year Plan, including women’s
Olympic sports, adding an orthopedist to the team doctor staff, contractual salary
obligations, expansion of promotions office, and support of the new marching band. The
Athletics budget has been reconciled to the Five Year Plan. The primary difference is that
philanthropy has not increased to the level projected due to a concentration of fundraising
efforts on the new arena project rather than the operating budget. The planned expenditure
level in women’s sports has not yet been achieved and transfers to a maintenance reserve
fund have been delayed as other priorities have proven more critical.
Athletics plans to transfer $2.5 million to its debt service and R&R reserves. In
addition to debt service requirements, Athletics expects to expend $790,000 from its R&R
reserves: $390,000 for the Olympic Sports Medicine Facility and $400,000 for University
Hall repairs, including the locker rooms.
Bookstore
Bookstore revenues are increasing by 11.7 percent to $34.3 million from the 200304 budget, while Bookstore expenditures and transfers are projected to increase 11.8
percent to $34.2 million. The 2003-04 budget for departmental purchases of desktop
computers was overly conservative, as the 2003-04 across-the-board budget cuts did not
have the expected negative impact on departmental purchases. As a result, revenues and
merchandise for resale expenditures are about $3.7 million higher than budgeted in 2003-
21
04 and this increase is reflected in the 2004-05 budgets. The Bookstore will transfer, on
behalf of the Bookstore and Cavalier Computers, $1.4 million to its debt service, R&R, and
expansion reserves. In 2004-05, the bookstore expects a small surplus of $95,000.
The Bookstore will make its annual transfers of $250,000 to the Bookstore
Endowment for Excellence and $50,000 to Student Council. Accumulated balances in the
Bookstore Endowment for Excellence will support international study initiatives over the
next three years. The contribution to the Student Council is undesignated, but was used in
2003-04 to fund the establishment of the Kaleidoscope in Newcomb Hall.
The Bookstore expects to expend $250,000 from its R&R reserves: $50,000 on the
Central Grounds Bookstore, $100,000 on equipment and computer system purchases, and
$100,000 on miscellaneous facility repairs and improvements.
Housing
The Housing Division includes student housing, faculty/staff housing, and
conference services. Revenues are increasing by 19.7 percent to $27.2 million, primarily
related to the housing rate increases (4.7 percent plus $150 to the Housing Improvement
Fund) approved in January 2004 and the return of Bice House to service. Expenditures and
transfers are increasing to $27.1 million, related to higher operating costs, including
compensation, volatility in utility prices, the return of Bice House to the system, and
increased preventive maintenance. Housing expects a small surplus of $128,000.
Housing plans to transfer $10.2 million to its reserves in 2004-05: $2.5 million to
cover debt service, $4.5 million for R&R, and $3.2 million for expansion. Housing expects
to expend $4.5 million from its R&R reserves: $2 million for Bice House refurbishment,
$975,000 for roof replacement on the McCormick Road dormitories, $800,000 for repairs
and shower replacements at the Alderman Road dormitories, $300,000 for safety, security,
and ADA compliance, $237,000 for faculty and staff housing maintenance, $100,000 for a
fire system upgrade at Munford/Gwathmey, and $80,000 for vehicle replacement.
Parking and Transportation
Parking and Transportation (P&T) revenues are increasing by 8.5 percent to $13.1
million in 2004-05. In addition to the approved student fee increase, this reflects an
increase in permit parking rates which are increasing $1 to $3 monthly. P&T expenditures
and transfers to reserves are increasing by 8.4 percent to $13.0 million, resulting from
higher operating costs, including compensation and the restructuring of the student driver
pay plan. P&T expects a small surplus of approximately $9,000 in 2004-05.
P&T will transfer $6.5 million to its debt service, R&R, and expansion reserves.
The debt service reserve will include the full annual debt service costs for the new
Emmet/Ivy Garage. P&T expects to expend $1.7 million from its R&R reserve: $750,000
for bus purchases, $200,000 for storm water management, $175,000 for parking lot repairs,
$173,000 for facility renovation, $100,000 for the Emmet Garage, $100,000 for the Carr’s
Hill Precinct project, $100,000 for South Lawn parking, and $134,000 for other projects.
Voice Communications
22
Voice Communications provides basic telecommunication services including
telephone, data, voicemail, and cable television services. Revenues are increasing by 10.9
percent to $11.9 million in 2004-05. Service rates and the number of people served will
remain relatively unchanged for 2004-05; the increase in revenues can be attributed to the
first-time budgeting of telecommunications infrastructure work for departments and
auxiliaries. This activity has occurred in the past, but has not been budgeted. With an
offsetting increase in expenditures and transfers planned for 2004-05, Voice
Communications expects to break even.
Voice Communications will transfer $700,000 to its R&R reserve and projects $7.7
million in expenditures from the accumulated reserve: $3.1 million for network
infrastructure, $1.5 million for 800 MGhz infrastructure (in a joint project with the City of
Charlottesville and County of Albemarle), $1 million for expansion of wireless services,
$773,000 for work on the dormitory network, $300,000 for McKim renovations, $300,000
for outside plant cables, $150,000 for a telemanagement system, $150,000 for wireless
local area networks, $100,000 for switch room generators and air conditioning, $100,000
for phone-mail, and $200,000 for other activities.
Student Health
Student Health revenues are increasing by 5.3 percent to $6.8 million in 2004-05,
which is primarily related to the approved student fee increase. Student Health operating
expenditures and transfers to reserves are also increasing by 5.3 percent to $6.8 million,
related to higher operating costs, including compensation, medical and pharmacy supplies,
utilities and service providers. Student Health expects to break-even in 2004-05. This
year, Student Health will transfer $227,000 to its debt service and R&R reserves, while
expending $44,000 from its R&R reserve for equipment purchases and maintenance.
Intramural/Recreation Sports
Intramural/recreation sports revenues and expenditures remain stable at $5.3
million each in 2004-05. A small $5,000 surplus is expected. Reduced debt service has
freed up funds for increased operational costs including the compensation, operations, and
maintenance associated with the completion of the Aquatics and Fitness Center addition.
Intramurals expects to transfer $2.5 million to its reserves, while expending about $250,000
from its R&R reserve: $80,000 for Slaughter repairs, $65,000 for North Grounds
improvements, and $105,000 for outdoor basketball and tennis court resurfacing. The
University has also made a $1 million commitment for the addition of a new
playing/practice field for club sports and the marching band.
Printing and Copying
Printing and Copying (P&C) revenues are increasing by 8.2 percent to $4.8 million
in 2004-05. P&C anticipates higher sales volume due to the expansion of a major
educational school program, higher sales of web-based and on-demand forms, and the
completion of the second phase of implementing new equipment to take advantage of
digital technology. P&C expenditures and transfers to reserves are increasing by 7.6
percent to $4.8 million, related to higher operating costs, including compensation and
supplies needed to support the higher sales volume. P&C expects to break-even in 200405. P&C will transfer $500,000 to its R&R reserve, with expenditures of $550,000 for
23
equipment and system purchases.
Newcomb Hall
Newcomb Hall and University Programming Council revenues are increasing less
than 1 percent to $4.4 million in 2004-05, due to a slight increase in the approved student
fee. Newcomb expenditures and transfers to reserves are projecting an increase of 1.5% to
$4.3 million, related to increased transfers. Newcomb expects to break-even in 2004-05.
Newcomb will transfer $1.3 million to its debt service and R&R reserves, with $50,000 in
expenditures for miscellaneous facility repairs expected.
Dining
Under the dining services contract with ARAMARK Corporation, net revenues
received by the University in 2004-05 are expected to total $3.5 million. Of this amount,
approximately $261,000 represents vending and concession commissions and the
remaining $3.2 million is from total board and retail sales. Rates for contract meal plans
were approved by the Board of Visitors in April and were increased at an average of 3.6
percent, to offset expected increases in food (3.9 percent) and labor (5 percent) costs. After
2004-05 expenses and transfers of $3.3 million, Dining projects a surplus of $213,000.
Dining plans to transfer $2.85 million to its expansion reserves. The unit plans to
expend $6.5 million from its renovation and replacement and expansion reserves in 200405: $5.7 million towards the construction of the new Observatory Hill dining facility and
$780,000 on other facility repairs and improvements.
Other
There are increases of $388,000 in revenues in other auxiliary units, with $284,000
in offsetting increases in expenditures. Expenditures of approximately $290,000 are
projected from the R&R reserves of these units: $214,000 for the Judge Advocate
General’s School, $50,000 for SCPS’s Satellite Uplink, and $25,000 for other activities.
Staffing
As shown on the next page, the Academic Division projects a 1.9 percent increase of
138.5 FTE positions to 7,581 in 2004-05. Sponsored program positions, projected to
increase 4.6 percent over the 2003-04 revised budget to 1,665, are supported by growth in
sponsored programs. If sponsored program awards do not support the projected number of
FTEs, the positions will not be created. Positions funded from private resources are
expected to increase by less than 1 percent over the 2003-04 revised budget to 832 FTEs.
The 2004-05 budget reflects a net increase of 20 FTE positions in auxiliary enterprises over
the 2003-04 revised budget.
24
2003-04 Revised
2004-05
Change
% Change
State
4,255.72
4,298.60
42.88
1.0%
Grants and
Contracts
1,590.28
1,665.14
73.89
4.6%
Private
Resources
830.96
831.61
0.65
> 0.1%
Auxiliaries
765.45
785.57
20.12
2.6%
Total
7,442.41
7,580.92
138.51
1.9%
Of the 7,581 positions budgeted for 2004-05, 2,351 positions are involved directly
in the primary programs of instruction, departmental research, and public service. Another
1,665 positions are funded from grants, contracts, and related indirect cost recoveries.
25
The University of Virginia’s College at Wise
2004-2005 Budget Summary
The 2004-05 operating budget for the University of Virginia’s College at Wise
(Wise) will total $21.7 million, an increase of $1.4 million or 7 percent as compared to the
2003-04 revised budget. The operating budget includes the final general fund
appropriation approved by the General Assembly on May 7, 2004. Tuition and fee
increases approved by the Board of Visitors will generate additional revenue totaling
$271,000, an increase of 6.1 percent over the revised 2003-04 tuition revenue projection.
The Higher Education Equipment Trust Fund reimbursement, which is not reflected in the
operating budget, will increase 64 percent to $267,000 in 2004-05.
University of Virginia's College at Wise
Operating Financial Plan
(dollars in thousands)
2004-05
Proposed
Budget
Sources of Available Funds
State general fund appropriations
SW Va. Public Education Consortium
Tuition and fees
Tuition and fees - tuition remission
Sponsored research direct costs
Auxiliary enterprises
Total Sources of Available Funds
Change
%
Change
2003-04
Approved
Budget
$ 10,769
200
4,711
(275)
804
5,501
21,710
$ 9,850
200
4,440
(275)
804
5,252
20,271
$ 919
271
249
1,439
9.3%
0.0%
6.1%
0.0%
0.0%
4.7%
7.1%
$ 9,563
200
4,432
(275)
800
5,071
19,791
6,288
1,019
2,744
1,391
2,188
1,479
1,100
5,501
21,710
5,633
1,027
2,691
1,391
2,130
1,418
729
5,252
20,271
655
(8)
53
58
61
371
249
1,439
11.6%
-0.8%
2.0%
0.0%
2.7%
4.3%
50.9%
4.7%
7.1%
5,832
1,015
2,427
1,309
2,032
1,403
702
5,071
19,791
-
0.0%
Uses of Available Funds
Direct instruction
Research and public service
Library, technology, and academic administration
Student services
General administration
Operation and maintenance of physical plant
Scholarships and fellowships
Auxiliary enterprises
Total Uses of Available Funds
Surplus (deficit)
2003-04
Projected
Results
$
-
$
-
$
$
-
Funding Sources of the Educational and General Programs
The general fund revenue appropriation for 2004-05 is projected to total $10.8
million, an increase of $919,000 or 9 percent over the revised 2003-04 budget. The
increase is related to increases in base operating support, compensation, and financial aid.
26
Non-general fund educational and general (E&G) revenue for 2004-05 is projected
at $4.7 million, including revenue from application fees, late registration fees, and
technology fees. Non-resident students are required to pay the full cost of instruction. To
be in compliance with this state policy, the non-resident tuition rate will increase by 5.9
percent in 2004-05. The technology fee will increase from $50.50 to $52.
Tuition and fee projections are developed using approved enrollment projection of
1,312, an overall increase of 6 FTE or 0.5 percent. While freshmen enrollment is projected
to increase by 3 percent, transfer enrollment is projected to increase by 10 percent, and outof-state freshmen and transfer enrollment will increase by 6 percent, retention of upper
class enrollment remains an issue. The Kentucky Tuition Assistance Grant (KTAG),
expanded in 2004-05 to include certain counties in Tennessee, will continue to support outof-state enrollment growth.
Federal sponsored programs will be funded at $803,528.
Operating Budget by Activity
Direct Instruction
This program includes teaching faculty, support staff, instructional equipment and
operating costs associated directly with instruction. The 2004-05 instructional budget
includes a reserve for the base operating increase that was appropriated in the last week of
the General Assembly budget negotiations. This reserve will be allocated to the highest
priority instructional needs of the College. As a result of this reserve, the instructional
budget will increase by $655,000 or 11.6 percent from the revised 2003-04 budget.
Research and Public Service
This category includes research and public service funded from the state and a
federal grant, and will decrease by $8,000 from the revised 2003-04 budget. The statefunded portion is for the Southwest Virginia Public Education Consortium. The College
serves as the fiscal agent and site of the Consortium offices. The objective of the
Consortium is to promote and coordinate with institutions of higher education the
development of joint educational initiatives within the public school systems throughout
the region.
The remaining public service budget includes the Cultural Arts program, which
provides support to the Pro-Art Association of Wise County and the City of Norton. The
Pro-Art Association promotes and sponsors various cultural events during the year within
the area. Admission to these programs is free to the Wise students.
Academic Support
The academic support program includes library services, technological and
computer services and academic services to both students and instructional faculty.
Faculty development and recruitment are also included within this program. The budget
for academic support programs will increase by $53,000, a 2 percent increase from 200304.
27
Student Services
Social and cultural development, counseling and career guidance and general
student affairs are included within the student services program. Recruiting, financial aid
services, registration services and general college publications also fall within this
program. The student services program provides various support outlets to students with
varying needs, promoting and nurturing their overall well being. The 2004-05 budget for
student services will decrease by $300.
General Administration
Included within the institutional support program are the executive management,
fiscal operations, logistical services, public relations and development, and staff
development areas. The institutional support budget for 2004-05 will increase by $59,000
or 2.8 percent. This budget includes recoveries from auxiliaries for indirect costs.
Operation and Maintenance of Physical Plant
Maintenance, housekeeping operations, utility expenditures, facilities management
and landscaping make up this program. The 2004-05 budget will increase by 4.3 percent.
Student Financial Aid
Student financial aid – fully funded from general fund appropriations - will increase
from $729,000 in 2003-04 to $1.1 million in 2004-05, a difference of $371,000 or 51
percent. The large increase was allocated in the final state budget negotiations and reflects
an adjustment by the General Assembly so that the College can meet 35 percent of the
remaining need of its students.
Auxiliary Enterprises
The auxiliary enterprises at Wise include student housing operations, campus store
and cafeteria operations, parking and transportation, student health services, athletics and
the student union. Auxiliary enterprises are self-supporting, funded solely by revenue
collected for services provided to students, faculty, staff and the general public. The
auxiliary budget for 2004-05 will total $5.5 million, an increase of $249,000 or 4.7 percent
over 2003-04.
Student Fees
The student services fee provides operating revenue for many of the College’s
student life functions, which in turn enhance the campus environment. Activities receiving
revenue from student fees include the student government association, student publications,
intramural and outdoor recreation activities, student health services, debt service for
Cantrell Hall and the Slemp Student Center, athletics and student life positions. The 200405 full-time fee rate will total $1,942 per academic year, an increase of $92 or 5 percent.
This proposed fee increase will supplement new student life positions, as well as
maintenance and housekeeping positions for the Slemp Student Center.
28
Student Housing
The 2003-04 occupancy level for residence halls is 98.4 percent; however, the
occupancy level for the Fall 2004 semester is again expected to exceed 100 percent.
Revenues will increase due to an average 4.5 percent increase in room rates.
Parking and Transportation
Revenue from parking and transportation will be generated from permit fees and
fines. Revenue projections will remain constant at $82,000 for 2004-05.
Cafeteria
The 2004-05 revenue projection for the cafeteria will total $1 million, an increase
of $40,000 or 4 percent. Student meal plan rates will increase by 4 percent for the 2004-05
academic year. Students residing in student housing are required to participate in the meal
plan.
Campus Store
There will be no change in the campus store revenue projection for 2004-05. The
budget will remain at $815,000.
Athletics
The projected athletics revenue budget for 2004-05 will remain constant with the
revised 2003-04 budget. An increase in the student fee for athletics will offset previous
fundraising revenue targets which did not materialize on a consistent basis. The projected
athletics budget will total $798,000.
Staffing
For 2004-05, full-time equivalent positions are budgeted at 233.54 as appropriated
by the Department of Planning and Budget. A request for additional positions has been
submitted due to an increase in positions funded from non general fund revenue. E&G
programs will hold 88 percent of these positions, of which 43 percent are directly involved
in the primary program of instruction. Full-time positions in Auxiliary Enterprises will
total 25.54. A summary of all positions is presented below:
Education and General
Auxiliary Enterprises
Sponsored Programs
Total
205.58
25.54
2.42
233.54
29
University of Virginia Medical Center
2004-2005 Budget Summary
The Medical Center’s 2004-05 fiscal plan projects an operating margin of $37.9
million and net income of $51.6 million. The plan has been developed to include aspects
of the joint Decade Plan, developed by the Medical Center, the School of Medicine and the
Health Services Foundation, while considering the challenge of providing patient care,
teaching, and research services in an increasingly changing health care industry. Payment
pressures from third party payers continue to have a negative impact on revenue on a percase and per-visit basis. The cost associated with providing quality patient care will
continue to have upward pressure due to increases in medical supply and pharmaceutical
expenses and a shortage of healthcare workers. In addition, in 2004-05, the Medical Center
expects to continue its growth in surgery and to care for patients with high acuity illnesses.
The Medical Center budget development process continues to be highly
participatory and clinically focused. Patient care service management, support function
management, and physicians have significant roles in the budget development cycle. The
budget process begins with a budget retreat, where overall budget parameters are
established, and ends with each operating unit providing a cumulative operating and capital
budget that contains service demand forecasts, required full-time equivalent personnel,
fringe benefits, and a full complement of non-labor expenses.
The 2003-04 operating margin is projected to be $34.7 million and the net income
is projected to be $54.4 million. The Medicare Prescription Drug and Modernization Act
of 2003 (MMA) is the most significant new health care legislation in a number of years.
MMA directly ties together Medicare payments to providers with the reporting by
providers of quality data. Overall MMA will provide increased Medicare payment to the
Medical Center, although in large part, this represents a recoupment of indirect medical
education funding to payment levels of three years ago. It also provides an opportunity,
which is not included in the budget, to decrease drug cost by as much as $5 million by
authorizing pharmaceutical companies to extend the favorable public service pricing for
outpatient drugs to inpatient drugs.
The Medical Center continues to modernize and integrate information technology
services through the Integrated Health Information Management System (IHIMS) project.
Incremental increases in the 2004-05 budget for IHIMS are $2.5 million, and the 2004-05
capital cost will be an additional $8.3 million.
Previous increases in capital investment for the hospital expansion and all other
capital activity will result in additional depreciation expense of $2.1 million for 2004-05.
The budget includes continuation of two modular operating rooms plus the addition of two
operating rooms to increase Medical Center overall capacity from 19 to 23 rooms. The
Medical Center’s 2004-05 fiscal plan accounts for these additional expenses while
preserving its goal of providing high quality and cost effective health care, education, and
30
research services to patients and their families, students, employers, state and federal
governments, referring physicians, referring agencies, and affiliated networks.
Budget Development Assumptions
Market Conditions
For 2004-05, total discharges are projected to grow 4.7 percent from 2003-04
projected levels primarily as a result of new capacity from the two operating rooms and
additional beds brought into service, and expanded physician capacity. Patient days are
expected to increase overall by 3.4 percent and outpatient service demand is expected to
grow by 3.9 percent. The growth in outpatient services reflects a continuing trend of health
care services moving from the inpatient to the outpatient setting. The following table
includes historical and projected patient volumes:
Discharges
Adjusted Discharges
Average length of stay
Patient days
Clinic & ER visits
Actual
2002-03
27,459
46,344
5.6
155,034
598,663
Forecasted
2003-04
29,040
47,645
5.7
165,596
607,460
Budgeted
200405
30,405
50,643
5.6
171,147
631,239
Revenues
The Medical Center’s 2004-05 budgeted payer mix remains consistent with that of
2003-04. One of the Medical Center’s largest challenges is the unwillingness of payers,
especially government programs, to increase their payments to be commensurate with the
increases in educational and medical delivery costs. Growth in revenues is attributable to
expanded capacity in operating rooms, beds, and radiology equipment and the opening of
the new Fontaine Medical Office Building.
Rate Changes
The Medical Center proposes a rate increase of slightly more than 9 percent, which
is commensurate with inflationary impacts on expenses. This increase will be in effect for
billings which are not based upon previously contracted amounts. Contractual rate
increases will average approximately 3.8 percent.
Expenses
Expenses from operations are projected to increase by $58.1 million. Expenses per
adjusted discharge increase 2.3 percent from $13,893 to $14,218. It is anticipated that
expense per adjusted discharge included in the budget will be approximately equal to the
academic medical center median expense as shown in the University Health System
Consortium Database.
31
University of Virginia Medical Center
Operating Financial Plan
(dollars in thousands)
2004-05
Proposed
Budget
Operating Revenues
Total Gross Charges
2003-04
Projected
Projected
2003-04
Approved
Budget
2002-03
Actual
Results
$1,267,435
$1,106,649
$1,103,771
$962,832
Less Deductions:
Indigent Care Deduction (net of DSH payment)
Contractual Deduction
Total Deductions
45,012
477,636
522,648
38,497
383,191
421,688
46,575
377,216
423,791
28,626
296,101
324,727
Net Patient Revenue
744,787
684,961
679,980
638,105
13,139
11,623
15,052
14,227
Total Operating Revenues
757,926
696,584
695,032
652,332
Operating Expenses
Compensation and Benefits
Supplies, Utilities, and Other
Depreciation and Amortization
Interest Expense
Bad Debt
326,264
324,076
38,712
4,730
26,283
300,225
299,888
36,661
4,191
20,944
301,353
297,947
39,948
4,606
26,569
277,852
273,255
36,064
4,455
22,860
Total Operating Expenses
720,065
661,909
665,423
614,486
Operating Income
Operating Income Percent
37,861
5.0%
34,675
5.0%
29,609
4.3%
37,846
5.8%
Non-operating Revenues (Expenses)
Investment Income
Net Gain from Affiliates
Net Gain (Loss) on Fixed Assets
Other
Net Non-operating Revenues
14,294
1,035
(125)
(1,422)
13,782
17,957
2,790
35
(1,096)
19,686
10,400
738
(1,000)
(2,000)
8,138
14,402
1,574
(962)
(12,809)
2,205
Net Income
Add back Non-cash Expenditures:
Depreciation and Amortization
51,643
54,361
37,747
40,051
38,712
36,661
39,948
36,064
Cash Available for Capital and Other
Transfer to Capital Requirements
90,355
62,500
91,022
50,000
77,695
58,000
76,115
44,100
$27,855
$41,022
$19,695
$32,015
Miscellaneous Revenue
Remaining Addition to Cash and
Reserves
32
Staffing
The Medical Center’s 2004-05 budget includes 5,695 FTEs, an increase of 146
FTEs from staffing at the 2003-04 projections of 5,549 FTEs and 353 FTEs greater than
in 2002-03. On an adjusted discharge basis, FTEs will drop from 43.70 in 2003-04 to
43.09 in 2004-05 reflecting fewer FTEs required to treat the volume growth. This
approximates the 50th percentile of the Medical Center’s peer group level of 41.15.
Operating Plan
The operating plan is presented on page 33 and includes actual results from 200203, the 2003-04 projection, and the 2004-05 budget. The rapidly changing health care
environment will require continuous examination of budget assumptions. Management
will monitor budget versus actual performance on a monthly basis and, where
appropriate, make changes to operations. Management will continue to identify and
implement process improvement strategies that will allow for operational streamlining
and cost efficiencies.
The major strategic initiatives that impact next year’s fiscal plan include:
•
Salary adjustments for employees and residents of 3.5%, plus $500,000
additional for residents to maintain salary competitiveness, $900,000 for
employee market adjustments, and $600,000 for internal alignment
adjustments.
•
Introduction of two new operating rooms, as well as continuing the two
modular operating rooms introduced in 2003.
•
Expansion of available beds by 10.
•
Facility expansions such as the Fontaine Medical Office Building.
•
Required expenses related to the Decade Plan and IHIMS.
•
Expansion of the radiology imaging joint venture.
The major risk factors that impact the ability to accomplish the fiscal plan
include:
•
Keeping the Hospital Expansion project on time.
•
Filling key medical leadership vacancies in hematology/oncology, radiology,
cardiology, and psychiatry.
•
Nationwide shortage in healthcare workers which could negatively impact our
ability to staff expanded capacity especially when the biggest need will be for
highly sought operating room personnel.
33
•
Maintaining an adequate number of physicians in areas experiencing a
national shortage such as radiology, anesthesia, and hematology/oncology.
•
Medicaid, indigent care and other regulatory reimbursement changes, along
with possible federal legislation changes to make MMA less favorable to
hospitals.
•
Inflation for medical devices and pharmaceuticals could exceed the budget
assumptions.
•
Advancements in medical technology which could alter expenses and/or
revenues very quickly.
•
Enhanced scrutiny by federal regulators in areas such as medical records,
billing, coding and contractual agreements.
•
An unfavorable decision by CMS with respect to the Office of the Inspector
General audit of the Department of Medical Assistance Services.
Capital Plan
Funds available to meet capital requirements are derived from operating cash
flows, funded depreciation reserve, and interest income. The Medical Center faces many
challenges regarding capital funding as continued pressures on the operating margin
affect cash flow, while demand for capital has increased significantly from space
requirements, technological advances and aging of existing equipment. Subject to funds
availability, the Medical Center management recommends $62.5 million be authorized
for capital requirements. This level of authorization – higher than 2004-05 funded
depreciation of $36.1 million – represents an investment in capital resources rather than
just maintenance. This transfer will fund cash outlay for capital requirements and does
not include capital expenditures for bonded projects such as the hospital expansion.
34
35
APPROVAL OF THE 2004-2005 OPERATING BUDGET FOR THE ACADEMIC
DIVISION
RESOLVED that the 2004-2005 Operating Budget for the Academic Division is
approved, as recommended by the President and the Chief Financial Officer.
APPROVAL OF THE 2004-2005 OPERATING BUDGET FOR THE UNIVERSITY OF
VIRGINIA'S COLLEGE AT WISE
RESOLVED that the 2004-2005 Operating Budget for the College at Wise is approved,
as recommended by the President and the Chief Financial Officer.
APPROVAL OF THE 2004-2005 OPERATING BUDGET FOR THE UNIVERSITY OF
VIRGINIA MEDICAL CENTER
RESOLVED that the 2004-2005 Operating Budget for the University of Virginia Medical
Center is approved, as recommended by the Medical Center Operating Board, the President, and
Chief Financial Officer.
36
University of Virginia - Academic Division
Supplemental Budget Information
Detail of Available Fund Sources
2004-05 Financial
Plan
State General Fund Appropriations for Educational and General (E&G)
Legislative appropriations
Anticipated state adjustments
Total State General Fund Appropriations for E&G
Special State Appropriations for E&G
Eminent Scholars matching funds
Fishery Resource Grants
Commonwealth Technology Research Fund awards
VIVA library materials
Total Special State Appropriations for E&G
$
2003-04 Projection
120,478,535 $
(878,018)
119,600,517
111,279,538
258,875
111,538,413
2003-04 Approved
Budget
$
111,279,538
(157,188)
111,122,350
2,933,485
210,000
3,143,485
2,933,485
210,000
917,471
44,427
4,105,383
6,117,800
109,197,900
7,435,600
7,435,600
25,509,200
3,390,800
14,066,100
2,436,801
5,170,000
180,759,801
5,772,725
101,227,263
6,706,345
6,858,751
24,544,431
2,927,485
12,289,566
2,618,673
4,968,000
167,913,239
(9,437,079)
(6,790,261)
(5,803,584)
(1,333,482)
(3,588,489)
(26,952,895)
14.9%
(9,435,499)
(7,264,451)
(4,990,191)
(994,940)
(3,583,517)
(26,268,598)
15.6%
(9,435,499)
(6,604,512)
(4,996,459)
(994,940)
(3,463,517)
(25,494,927)
15.2%
153,806,906
141,644,641
141,993,286
30,186,160
20,401,633
4,803,600
973,500
623,660
56,988,553
27,262,934
19,278,600
4,884,763
1,044,000
460,926
52,931,223
27,262,934
19,278,600
4,884,763
1,044,000
460,926
52,931,223
(3,161,444)
5.5%
(2,550,813)
4.8%
(2,550,813)
4.8%
Net self-supporting degree program tuition
53,827,109
50,380,410
50,380,410
Other tuition and fees
SCPS non-degree tuition and fees
McIntire executive and E&Y fees
Mandatory E&G fees
Application fees
Other program fees
Total other tuition and fees
9,241,015
1,342,612
2,585,100
1,757,600
1,472,230
16,398,557
9,140,792
1,572,423
2,529,854
1,828,000
1,417,340
16,488,409
9,140,792
1,572,423
2,529,854
1,828,000
1,414,910
16,485,979
224,032,572
208,513,460
208,859,675
37
State Nongeneral Funds for E&G
Traditional degree program tuition
School of Architecture
College of Arts & Sciences
McIntire School of Commerce
Curry School of Education
School of Engineering and Applied Science
School of Nursing
Medicine
School of Continuing and Professional Studies (SCPS)
Summer Session
Subtotal traditional degree program tuition
Transfer to undergrad University Grants
Transfer to graduate adjustment
Transfer to GTA/GAA remission
Transfer to GTA/GAA healthcare
Transfer to graduate University Grants
Subtotal tuition transferred to financial aid
Percentage of tuition to financial aid
Net traditional degree program tuition
Self-supporting degree program tuition
Law JD, graduate, and appellate judges' programs
Darden MBA and PhD programs
McIntire executive and E&Y degree programs
Engineering executive degree program
SCPS BIS degree program
Subtotal self-supporting degree program tuition
Transfer to University Grants
Percentage of tuition to financial aid
Total Tuition and Program Fees
2,933,485
210,000
1,299,467
4,442,952
$
5,772,725
100,802,237
6,706,345
6,858,751
24,544,431
2,927,485
12,289,566
2,618,673
4,968,000
167,488,213
University of Virginia - Academic Division
Supplemental Budget Information
Detail of Available Fund Sources
2004-05 Financial
Plan
Fines, rents, sales and services
Recovery of overhead (30%)
Transfer to GRA healthcare
Work study reimbursement
2,478,953
16,600,000
(972,518)
585,000
2003-04 Projection
2,098,407
16,600,000
(725,760)
585,000
2003-04 Approved
Budget
2,026,721
16,600,000
(725,760)
585,000
Total State Nongeneral Funds for E&G
242,724,007
227,071,107
227,345,636
Total Grants, Contracts and Indirect Cost Recoveries for E&G
257,029,900
240,383,781
212,210,800
622,497,909
583,098,684
555,121,738
1,306,100
48,401,892
49,041,250
26,313,571
1,172,411
51,187,038
49,878,172
22,273,847
1,009,240
52,811,127
51,410,141
20,459,081
125,062,813
124,511,468
125,689,589
747,560,722
707,610,152
680,811,327
Funds Available for Student Financial Assistance
State general fund appropriations
Tuition and other nongeneral funds
Grants, contracts and indirect cost recoveries
Endowment distributions projected for expenditure
Private gifts projected for expenditure
Investment and other income projected for expenditure
6,149,848
31,086,857
19,170,100
17,845,280
16,090,423
2,145,020
5,998,809
29,545,171
18,016,219
17,250,533
16,166,974
614,177
5,526,064
28,771,500
15,489,200
15,247,388
14,500,000
598,462
Total Funds Available for Student Financial Assistance
92,487,528
87,591,883
80,132,614
Total State Funds for E&G
University Funds for E&G
Student activity fees
Endowment distributions projected for expenditure
Private gifts projected for expenditure
Sales, services, investment and other income projected for expenditure
Total University Funds for E&G
Total Funds Available for E&G
38
University of Virginia - Academic Division
Supplemental Budget Information
Detail of Available Fund Sources
2004-05 Financial
Plan
2003-04 Projection
2003-04 Approved
Budget
1,635,000
8,235,000
10,464,656
7,650,000
2,509,718
987,800
31,482,174
2,344,367
7,836,000
9,089,400
6,611,300
501,875
951,100
27,334,042
2,344,367
7,836,000
9,089,400
6,611,300
951,100
26,832,167
University bookstores
34,254,265
30,675,597
30,642,797
Housing
Student housing rents
Conference services
Faculty and staff housing
Subtotal
23,867,000
2,657,000
697,460
27,221,460
20,255,000
1,743,000
731,000
22,729,000
20,255,000
1,743,000
731,000
22,729,000
Parking and transporation
Student fees
Parking fees, bus passes, charter fees and other
Subtotal
2,455,000
10,595,000
13,050,000
2,153,000
9,880,200
12,033,200
2,153,000
9,880,200
12,033,200
Voice communications
Student health
Intramural/recreation sports
Printing services
Newcomb Hall and University Programming Council
Dining
Leased facilities
Mail services
University Press
Other
11,913,101
6,798,139
5,280,843
4,757,900
4,345,717
3,544,900
2,845,388
1,924,800
1,619,609
1,221,750
10,743,764
6,457,197
5,259,400
4,395,700
4,289,967
3,225,700
2,873,988
1,985,000
1,717,397
1,441,325
10,743,764
6,457,197
5,199,400
4,395,700
4,334,967
3,225,700
2,873,988
1,985,000
1,717,397
1,396,325
Total Revenues from Auxiliary Enterprise Operations
150,260,046
135,161,277
134,566,602
Revenues from Auxiliary Enterprises
Athletics
TV, radio, licensing and sponsorship
Conference revenue
Gate receipts
Student fees
Private gifts and endowment distributions
Other
Subtotal
Total Funds Available for the Academic Division
$
990,308,296
$
930,363,312
$
895,510,543
39
University of Virginia - Academic Division
Supplemental Budget Information
Detail of Projected Use of Funds
2004-05 Proposed
Budget
2003-04 Projected
Results
2003-04 Approved
Budget
$
196,455,897
7,065,599
2,570,122
65,042,798
15,679,656
33,025,958
45,627,979
$
182,301,177
8,157,318
2,532,319
65,271,944
15,224,627
30,162,831
39,064,687
$
182,928,849
7,419,749
2,293,158
61,339,007
15,751,579
26,474,990
46,703,606
$
365,468,009
$
342,714,903
$
342,910,938
$
5,131,485
213,524,000
14,597,000
17,771,515
469,000
5,161,900
375,000
-
$
4,888,001
200,218,527
14,133,128
16,017,994
297,614
4,649,000
179,517
-
$
1,225,547
14,378,666
2,967
16,442,400
271,600
3,724,020
465,600
175,700,000
Total Grants, Contracts and Indirect Cost Recoveries for E&G Programs $
257,029,900
$
240,383,781
$
212,210,800
$
47,224,017
18,120,065
12,128,828
19,436,813
2,798,050
22,972,743
2,382,297
$
41,742,829
19,940,755
11,698,941
21,808,393
3,289,186
24,136,510
1,894,854
$
50,346,363
17,246,035
11,166,155
22,069,599
3,165,799
18,225,411
3,470,227
$
125,062,813
$
124,511,468
$
125,689,589
$
747,560,722
$
707,610,152
$
680,811,327
$
37,236,705
19,170,100
36,080,723
$
35,543,980
18,016,219
34,031,684
$
34,297,564
15,489,200
30,345,850
$
92,487,528
$
87,591,883
$
80,132,614
Educational & General (E&G) Programs
State Funds for E&G Programs
Direct instruction
Research
Public service
Library, information technology, and academic administration
Student services
General administration
Operation and maintenance of physical plant
Total State Funds for E&G Programs
Grants, Contracts and Indirect Cost Recoveries for E&G Programs
Direct instruction
Research
Public service
Library, information technology, and academic administration
Student services
General administration
Operation and maintenance of physical plant
Direct Cost of Grants and Contracts
Private Funds for E&G Programs
Direct instruction
Research
Public service
Library, information technology, and academic administration
Student services
General administration
Operation and maintenance of physical plant
Total Private Funds for E&G Programs
Total for E&G Programs
Student Financial Assistance
State scholarships and fellowships
Grant-related scholarships and fellowships
Private scholarship and fellowships
Total for Student Financial Assistance
41
University of Virginia - Academic Division
Supplemental Budget Information
Detail of Projected Use of Funds
2004-05 Proposed
Budget
2003-04 Projected
Results
2003-04 Approved
Budget
$
31,356,869
34,159,265
27,093,000
13,041,000
11,913,101
6,798,139
5,275,850
4,757,900
4,300,956
3,332,150
2,845,388
1,924,700
1,646,037
1,119,408
$
27,183,850
30,541,193
22,631,400
12,033,200
10,743,764
6,457,197
5,221,944
4,395,700
4,236,900
3,178,135
2,873,988
1,949,500
1,717,397
1,278,444
$
26,832,167
30,009,100
22,631,400
12,033,200
10,743,764
6,457,197
5,175,400
4,395,700
4,411,400
3,178,135
2,873,988
1,949,500
1,717,397
1,701,249
Total for Auxiliary Enterprises
$
149,563,763
$
134,442,612
$
134,109,597
Total Operating Budget - Academic Division
$
989,612,013
$
929,644,647
$
895,053,538
Auxiliary Enterprise Operations
Athletics
University bookstores
Housing and conference services
Parking and transportation
Voice communications
Student health
Intramural/recreation sports
Printing services
Newcomb Hall and University Programming Council
Dining
Leased facilities
Mail services
University Press
Other auxiliary activities
42
University of Virginia - Academic Division
Supplemental Budget Information
Selected Performance Measurements
(from Report of Institutional Effectivness, http://roie.schev.edu/)
First-Year Retention Rate (%)
Fall 99 Fall 2000
Fall 2000 - Fall
2001
Peer Group
Average
96.6%
96.0%
89.0%
The University has one of the highest retention rates of all public instituions in the Association of American Universities. This result is evidence
of the University's outstanding undergraduate educational experience.
Number of Transfer Students from VCCS and Richard Bland Colleges
Fall 1997
Fall 1998
Fall 1999
Fall 2000
Fall 2001
5-Year
Average
184
173
168
122
153
160
The number of applications from Virginia Community College System (VCCS) students declined by 31% in fall 2000, resulting in a drop of
27% in the number of entering VCCS transfer students. However, the University remains strongly committed to recruiting highly qualified
VCCS applicants at closer to previous levels in the near future. In fact, the number of matriculants in fall 2001 has already begun to rebound.
Undergraduate Class Section Size
Fall 1999
Fall 2000
Fall 2001
Average
2-9
17.4%
18.2%
16.4%
17.3%
10-19
32.5%
32.2%
32.4%
32.3%
20-29
20.5%
18.8%
20.3%
19.9%
30-39
9.4%
10.2%
10.4%
10.0%
40-49
6.2%
5.8%
6.0%
6.0%
50-99
8.3%
8.8%
8.2%
8.4%
100+
5.7%
6.0%
6.3%
6.0%
Approximately 10% of the undergraduate students also enrolled in individual instruction courses in the fall 2001 are not included above. These
provide one-on-one contact with senior faculty. Most of the courses of size 50 or more have associated discussion sections that meet once a
week with graduate instructors. These discussion sections typically contain 20 or fewer students and allow the students to interact in a smaller
setting to discuss, in depth, what was covered in the lecture during the previous week. Many of the science courses also have additional
laboratory sections in which the student can receive individual help from the lab instructor.
Percent of Lower-Division Courses Taught by Full-Time Faculty
Fall 1997
Fall 1998
Fall 1999
Fall 2000
Fall 2001
5-Year
Average
Sections
72%
73%
73%
75%
74%
73%
Subsections
13%
18%
18%
17%
18%
17%
The subsections included above are discussion and laboratory sections that are associated with the primary lectures. The associated subsections
are typically taught by graduate teaching assistants while the lecture sections to which they are associated, are taught by full-time faculty.
First-Time, Full-Time Graduation Rate after Six Years
1992 Cohort
1993 Cohort
1994 Cohort
1995 Cohort
4-Year
Average
Peer Group
Average
91.3%
92.2%
91.8%
92.2%
91.9%
72.0%
The University's 6-year graduation rate for first-time full-time freshmen is the highest among all state-supported universities in the United States.
This provides compelling evidence of the University's strong commitment to the success of its undergraduate students and to the students'
obvious satisfaction with their educational experiences at the University.
43
University of Virginia - Academic Division
Supplemental Budget Information
Selected Performance Measurements
(from Report of Institutional Effectivness, http://roie.schev.edu/)
Average Time-to-Degree for Undergraduate Degrees (years)
Grad. In 1996- Grad. In 1997- Grad. In 1998- Grad. In 1999- Grad. In 200097
98
99
2000
01
4.2
4.1
4.2
4.1
4.2
5-Year
Average
4.2
The University works diligently, through its advising programs, to keep undergraduates on track to earn 4-year bachelors degrees.
Approximately 90% of UVa bachelors degree recipients graduate within 4 years and over 99% graduate within 5 years.
Percentage of Living Undergraduate Alumni who Donate Annually
1996-97
1997-98
1998-99
1999-2000
2000-01
Peer Group
Average
28%
28%
29%
30%
28%
21%
Alumni giving can indicate the degree of loyalty that alumni hold toward the institution and the degree of non-gift support they will render in
terms of serving as volunteer alumni leaders, participating in programs, attending athletic competitions, and voicing favorable opinions about the
institution to prospective students and others.
Classroom and Laboratory Space Utilization (Occupancy Rate)
Fall 1996
Fall 1998
Fall 2000
3-Year
Average
Classrooms
57%
58%
61%
59%
Labs
54%
68%
64%
62%
UVA exceeded the SCHEV guidelines for both classroom and class lab utilization in fall 2000. As a residential university, UVA offers
traditional classes during the day and encourages students to attend both formal and informal study sessions in the evenings. Thus, classrooms
are used for multiple purposes, which increases the efficiency of space utilization. Such informal use of classrooms is not included in the figures
above.
Percentage of E&G Spending on Instruction and Academic Support
FY1999
FY2000
FY2001
Public Peer
Group Avg.
69%
71%
72%
61%
This measure illustrates the investment the institution has made in its primary program of instruction relative to other supporting activities. It is
best viewed in the context of similar institutions or as a trend over time.
Percentage of Management Standards Met
FY 1997
FY 1998
FY 1999
FY 2000
FY 2001
5-Year
Average
100%
100%
100%
100%
100%
100%
The Commonwealth sets management standards as measures of sound financial practices and performance. The University has met 100 percent
of the standards since their inception.
Debt Service-to-Expenditure Ratio
FY 1997
FY 1998
FY 1999
FY 2000
FY 2001
5-Year
Average
3.7%
3.5%
3.7%
4.9%
5.0%
4.2%
This ratio is used to guide management in its decisions regarding future capital construction and its financing. As such, it is a measure of the
financial health of an institution. The University's debt ratio remains well below the Commonwealth of Virginia's performance upper limit of
7%.
44
University of Virginia - Academic Division
Supplemental Budget Information
Selected Performance Measurements
(from Report of Institutional Effectivness, http://roie.schev.edu/)
Research and Public Service Expenditures per Full-Time Faculty
FY 2000
FY 2001
Peer Group
Average
$91,837
$91,690
$106,809
Research leads to better health care for the citizens of the Commowealth, and provides access to important experimental research trials. Research
drives economic development; Commerce Department statistics indicate that UVa research creates over 8,100 jobs (over 36 jobs per $1 million
of research awards). UVa discoveries and inventions stimulate start-up businesses in the region and these bring valuable high-tech employment
opportunities to Virginia. Research activities enhance the quality of undergraduate education and the University's K-12 outreach.
Credit Hours Taught per FTE Faculty
Fall 97
Fall 98
Fall 99
Fall 2000
Fall 2001
5-Year
Average
231
232
226
224
224
228
The five year average of 228 credit hours taught per fall term per faculty member is the equivalent of each faculty member teaching 3 courses (of
3 credit hours each) with an average of 25 students in each class.
Moody's Bond Rating
1997
1998
1999
2000
2001
Aa1
Aa1
Aa1
Aaa
Aaa
Moody’s Investors Service, one of the world’s leading credit rating, research, and risk analysis companies, upgraded the University’s General
Pledge Revenue Bond Issues to Aaa status in 2000. Only two other public universities – the University of Texas at Austin and the University of
Michigan - have been assigned this rating. The rating is based on a superior balance sheet, excellent student demand for undergraduate and
graduate programs, manageable plans for additional borrowing, and strong overall operating performance.
African American First-Time, Full-Time Graduation Rate after Six Years
1993 Cohort
1994 Cohort
1995 Cohort
AAU Publics
Average 1995
Cohort
84.6%
83.1%
83.3%
48.7%
The graduation rates displayed are for first-time, full-time African American students who received a bachelor's degree within 6 years of
entering. The University has the highest such rate of all public institutions in the Association of American Universities. This result shows the
University's continuing strong commitment both to a diverse student body and to their academic success.
NSF Federally Funded Research Expenditures Ranking
1995-96
1996-97
1997-98
1998-99
1999-2000
5-Year
Average
58th
55th
47th
46th
45th
50th
The National Science Foundation (NSF) collects total annual expenditures on federally funded research and publishes a ranked list based on
those expenditures. Even though it is a small institution compared to most other major public research institutions, UVa has improved its
ranking in federally funded research expenditures by 13 positions between FY96 and FY00 and is committed to continuing the growth.
Percent University Housing Beds with Internet Ports
1997-98
1998-99
1999-2000
2000-01
2001-02
5-Year
Average
100%
100%
100%
100%
100%
100%
This measure demonstrates the University’s commitment to technology as a means of education and communication for students by providing
state-of-the-art internet access for each student who lives in University housing. Twenty-four hour, in-room access provides greater safety and
convenience than public computer labs, and it enables students to use the power of the internet for conducting University business, for
performing academic research, and for communicating with faculty and other members of the University community.
45
University of Virginia - Academic Division
Supplemental Budget Information
Selected Performance Measurements
(from Report of Institutional Effectivness, http://roie.schev.edu/)
Selected Awards Received Annually by UVa Faculty
Award
5-Year
Average
1997
1998
1999
2000
2001
0
1
0
1
0
2
0
1
2
1
0
4
2
3
0
4
3
0
0
4
1.4
1.4
2.8
0
0
1
1
0
1
0
0
2
1
0
0
0
0
0
0
0
0
0
0
0
1
1
2
0
0
0
0
0
2
0
0
1
0
0
0.2
1.0
0.8
0.2
0.2
0.2
-
National Humanities Center Fellowships
1
0
0
0
0
2
0
1
2
0
0.6
0.6
National Research Council Minority
Fellowships
0
0
0
0
0
-
5
0
0
1
1
3
0
1
2
0
4
0
2
1
0
3
1
0
0
1
5
1
0
0
0
4.0
0.4
0.6
0.8
0.4
American Academy of Arts and Sciences
American Council of Learned Societies
CASE Professor of the Year
Fulbright Scholar Program
Getty Postdoctoral Fellowships in the History
of Art and the Humanities
Guggenheim Fellowships
Institute of Medicine
Life Achievement Award
MacArthur Awards
National Academy of Engineering
National Academy of Sciences
National Endowment for the Humanities
Fellowships
National Science Foundation CAREER
Awards
Pew Scholars in Biomedicine
Sloan Foundation Awards
Virginia's Outstanding Faculty Member
Virginia's Outstanding Scientist
Total
13
12
16
19
18
15.6
A major research institution, UVa shares with many of the nation's top universities the distinction of its faculty annually receiving such awards
as listed above. For example, the National Academy of Science, the National Academy of Engineering, and the American Academy of Arts and
Sciences are the most prestigious organizations of scientists in the entire world. Pew and Fulbright Scholarships, Guggenheim and Getty
Fellowships, and National Science Foundation Career Awards, are granted only to top humanities and science faculty. As expected, UVa
maintains a steady state of such new awards each year.
Student Awards
1997
Beinecke Scholars
Goldwater Scholars
1
1
Jack Kent Cook Award
Luce Scholars
Marshall Scholars
Mellon Scholars
Rhodes Scholars
St Andrews Award
Truman Scholars
Udall Scholars
0
0
1
0
0
2
0
1998
1999
0
0
3
3
Awards were first given in 2001
0
0
0
0
1
2
1
1
0
0
1
0
0
0
2000
2001
5-Year
Average
0
2
0
4
6
1
0
0
0
1
0
1
0.2
2.6
1.2
0.2
0.2
0.8
0.4
0.2
1
0.4
0
1
0
0
0
2
1
Total
5
6
6
6
13
7
This measure demonstrates the degree to which national and international organizations recognize and monetarily reward University students for
their achievements. These awards are highly selective and competitive. Selection criteria vary among the award-granting organizations, but
high academic achievement is of primary importance. Other factors include integrity of character, service to the community, potential for
leadership, and interest in specific careers such as public service, higher education, business and industry, and the arts. The number of
successful students (13 this year) and the diversity of the awards (from graduate school funding to study in Asia and Scotland) demonstrate the
enhancement we have seen in this area. See http://www.virginia.edu/artsandsciences/fellowships/ for more information.
46
University of Virginia - Academic Division
Supplemental Budget Information
Selected Performance Measurements
(from Report of Institutional Effectivness, http://roie.schev.edu/)
Association of Research Libraries Index
Volumes Held
1996-97
1997-98
1998-99
1999-2000
2000-01
5-Year
Average
4,433,628
4,513,843
23rd
22nd
4,588,606
29,543,494
22nd
4,678,553
47,806,197
23rd
4,779,269
76,773,284
22nd
4,598,780
51,374,325
22nd
Web Page Acesses
ARL Index Ranking
The Association of Research Libraries (ARL) includes 112 of the largest academic libraries in North America. Each year ARL uses principal
component analysis to aggregate five data categories: volumes held, volumes added (gross), current serials, total library expenditures, total
professional and support staff. For each library this analysis produces the "ARL Library Membership Index." Each year the current index
rankings (from 1 to 112) are published in the Chronicle of Higher Education .
US News and World Report Ranking
National Universities
National Public Universities
1998
1999
2000
2001
2002
5-Year
Average
Tied 21st
1st
Tied 22nd
Tied 1st
22nd
2nd
Tied 20th
Tied 1st
Tied 21st
2nd
Tied 21st
Tied 1st
The US News and World Report uses a combination of program quality and financial measures to rank colleges and universities each year (note:
the methodology changes from year to year.). Achieving status as the number one public university in the country has been a goal of the
University since 1990, a goal that has been met in four of the last six years. Most recently, the University has set its aspirations higher, seeking
to be both the top public university and among the top 15 universities overall.
Kiplinger's Ranking of State Colleges and Universities
1998
2000
2002
2nd
2nd
2nd
Like the US News rankings, the Kiplinger’s rankings can be used to assess the overall quality and effectiveness of an institution compared with
its competitors. Kiplinger’s selects the top 100 public colleges/universities based on quality, then ranks them based on a combination of quality
and cost measures. Kiplinger's does not rank public institutions every year, in fact, has only done so twice in the past 5 years.
National Research Council Rankings of Research-Doctorate Programs
Rankings were
Programs Ranked in the Top 10 (5)
English (4), Spanish-Italian-and-Portuguese (5), Religious Studies (6), German (8), Physiology (9)
Programs Ranked 11th through 20th (6) French (13), Art History (16), Astronomy (17), Classics (18), History (19), Psychology (19)
Unlike the U.S. News and World Report , which ranks mostly undergraduate and professional programs, the National Research Council (NRC)
ranks graduate programs. The above rankings are based on the NRC criterion of quality of faculty in the program. If institutions around the
country are compared on the basis of how many graduate programs they have in the top 20, according to the NRC quality of faculty rankings,
UVa ranks 25th in such a comparison, with 11 top 20 programs. UVa is one of a few institutions to achieve such a distinction in predominantly
humanities and behavioral sciences programs, rather than in engineering and physical sciences programs. Increasing resources to science and
engineering, as well as fine and performing arts, are priorities in the University's long-range plans.
Jobs Created by Research
1996-97
1997-98
1998-99
1999-2000
2000-01
5-Year
Average
5,803
5,942
6,812
7,608
8,157
6,864
Research leads to better health care for the citizens of the Commowealth, and provides access to important experimental research trials. Research
drives economic development; Commerce Department statistics indicate that UVa research creates over 8,100 jobs (over 36 jobs per $1 million
of research awards). UVa discoveries and inventions stimulate start-up business in the region and these bring valuable high-tech employment
opportunities to Virginia. Research activity also enhances the quality of undergraduate education and the University's K-12 outreach.
47
48
University of Virginia - Medical Center
Supplemental Budget Information
Selected Performance Measurements
Medicare Case Mix Index
Average Length of Stay
Gross Revenue per Adjusted Discharge
Net Revenue per Adjusted Discharge
FTE per Adjusted Discharge
FTE per Adjusted Occupied Bed
Labor Expense per Adjusted Discharge
Supply Expense per Adjusted Discharge
Total Expense per Adjusted Discharge
Operating Margin
2004-05
Budget
1.8
5.6
$
25,027
$
14,966
43.09
7.30
$
6,828
$
2,946
$
14,218
5.0%
50th
Percentile
Peer Median
1.9
6.3
$
30,991
$
15,287
41.15
6.40
$
6,897
$
2,881
$
14,105
3.0%
49
University Academic Division
Major Budget Unit Detail
Table of Contents
Units Reporting to the Vice President and Provost
Office of the Vice President and Provost ………………………………………………………………...A-1
Planning & Evaluation …………………………………………………………………………………...A-2
Admissions ……………………………………………………………………………………………….A-3
Virginia Foundation for the Humanities …………………………………………………………………A-4
Center for Public Service ………………………………………………………………………………...A-5
Center for Liberal Arts …………………………………………………………………………………...A-6
Center for Politics ………………………………………………………………………………………..A-7
Associate Provost for Academic Support.………………………………………………………………...A-8
Vice Provost for International Affairs ....…………………………………………………………………A-9
Vice Provost for Academic Programs ….………………………………………………………………..A-10
Associate Provost for Management & Budget ….……………………………………………………….A-11
University Library ….……………………………………………………………………………………A-12
Architecture School ……………………………………………………………………………………..A-13
Law School ……………………………………………………………………………………………...A-14
Curry School of Education ….…………………………………………………………………………...A-15
School of Engineering and Applied Sciences …….……………………………………………………..A-16
Darden Graduate School of Business Administration .....……………………………………………….A-17
School of Continuing and Professional Studies ….……………………………………………………...A-18
College of Arts and Sciences ….………………………………………………………………………...A-19
McIntire School of Commerce ….……………………………………………………………………….A-20
School of Nursing ……………………………………………………………………………………….A-21
School of Medicine ….…………………………………………………………………………………..A-22
Units Reporting to the Vice President for Research and Graduate Studies
Office of the Vice President for Research and Graduate Studies ….........................................................A-23
Environmental Health and Safety ….........................................................................................................A-24
Institute of Advanced Technology in Humanities ………………………….…………………………...A-25
Units Reporting to the President
Office of the President …………………………………………………………………………………..A-26
Major Events …………………………………………………………………………………………….A-27
Board of Visitors ….……………………………………………………………………………………..A-28
Miller Center for Public Affairs ….……………………………………………………………………...A-29
Equal Opportunity Programs ……………………………………………………………………………A-30
General Counsel …………………………………………………………………………………………A-31
Virginia Health Policy Center ….………………………………………………………………………..A-32
Units Reporting to the Senior Vice President for Development & Public Affairs
University Development Office …………………………………………………………………………A-33
University Relations …………………………………………………………………………………….A-34
University Academic Division
Major Budget Unit Detail
Table of Contents (continued)
Units Reporting to the Executive Vice President and Chief Operating Officer
Office of the Executive Vice President and Chief Operating Officer …………………………………..A-35
University Police ….……………………………………………………………………………………..A-36
Audit Department ….…………………………………………………………………………………….A-37
University Investment Management Company ………………………………………………………….A-38
University Architect ……………………………………………………………………………………..A-39
Units Reporting to the Vice President for Management and Budget
Office of the Vice President for Management and Budget ….…………………………………………..A-40
Leadership Development Center ….……………………………………………………………………..A-41
University Budget Office, including University Reserves ….…………………………………………...A-42
State Governmental Relations ….………………………………………………………………………..A-43
Procurement Services ….………………………………………………………………………………...A-44
Facilities Management …………………………………………………………………………………..A-45
Units Reporting to the Vice President for Finance
Office of the Vice President for Finance ………………………………………………………………..A-46
Comptroller ……………………………………………………………………………………………...A-47
Business Operations ….………………………………………………………………………………….A-48
Human Resources ….…………………………………………………………………………………….A-49
Sponsored Programs …………………………………………………………………………………….A-50
Risk Management ….…………………………………………………………………………………….A-51
Integrated System Deployment and Support ….…………………………………………………………A-52
Units Reporting to the Director of Athletic Programs
Athletics …………………………………………………………………………………………………A-53
Intramurals and Recreational Sports …………………………………………………………………….A-54
Units Reporting to the Vice President for Student Affairs
Office of the Vice President for Student Affairs ….……………………………………………………..A-55
Office of African American Affairs ….………………………………………………………………….A-56
Office of the Dean of Students ….……………………………………………………………………….A-57
Student Health ….………………………………………………………………………………………..A-58
University Career Services ….…………………………………………………………………………...A-59
WTJU ……………………………………………………………………………………………………A-60
Units Reporting to the Vice President and Chief Information Officer
ITC Budget & Administration ........……………………………………………………………………..A-61
ITC Communications & Systems ….…………………………………………………………………….A-62
ITC Computing Support Services ….……………………………………………………………………A-63