FYOO BUDGETARY RESULTS TROY CAMPUS

 

FINAL YEAR END RESULTS

 

                                    $Millions                                                                                     3Q               Total

                                                                                                          Budget                 Fcst               Actual

                                   Direct Revenue

                                    Not Undergraduate Tuition                                  60.3                 63.6               63.3

                                    Graduate Tuition                                                 24.4                 24.3               24.3

                                    Hartford Contribution *                                         1.9                   1.9               1.9

                                    Auxiliary Revenue                                               33.0                 34.5               34.2

                                    (Prior to aid which is reflected in Net U/G Tuition)

                                    Sponsored/Other Research                                 44.4                 43.7               46.1

                                    Other Income                                                        0.7                   0.7               0.8

                                        Total Direct Revenue                                     164.7               168.7               170.6

 

                                    Direct Expense

 

                                    Direct Instruction                                                 62.7                 63.7               6.5

                                    Incentives Earned/Reserve Transfer                       1.7                   4.0               3.9

                                    Auxiliary Expense                                                25.1                 26.8               26.4

                                    Sponsored/Other Research                                 35.4                 34.7               36.5                

                                    Operation & Maintenance                                     8.2                   8.2               8.1

                                    Other Expense                                                      0.7                   0.7               0.8

                                          Total Direct Expense                                   133.8               138.1               140.2

                                   

                                    CONTRIBUTION MARGIN                         30.9                 30.6               30.4

 

 

Budgetary results as anticipated.

 


FYOO BUDGETARY RESULTS TROY CAMPUS

 

FINAL YEAR END RESULTS

 

                                    $Millions                                                                                     3Q               Total

                                                                                                          Budget                 Fcst               Actual

                                   Indirect Revenue

                                    Unrestricted Gifts                                                  3.7                   3.7               4.1

                                    Investment Income                                              12.4                 12.5               12.4

                                    Campaign/SI Funding                                            5.7                   5.0               4.7

                                    Other Misc. Revenue                                            1.5                   1.4               1.4

                                             Total Direct Revenue                                  23.3                 22.6               22.6

 

                                    Indirect Expense

 

                                    Administrative Divisions                                       42.8                 42.6               42.7

                                    Campaign/SI Funding                                            5.7                   5.0               4.7

                                    Debt Service/Utilities/Other                                   5.7                   5.8               5.8

                                             Total Direct Expense                                  54.2                 53.4               53.2

                                   

                                    NET OPERATIONS                                              -                 (0.2)               (0.2)

 

          For Hartforf to meet its contribution, necessitated a $1.0 million draw down on accumulated earnings

 

 

 

Budgetary results as anticipated.

 


FYOO BUDGETARY RESULTS HARTFORD CAMPUS

 

FINAL YEAR END RESULTS

 

                                    $Millions                                                                                     3Q               Total

                                                                                                          Budget                 Fcst               Actual

                                   Revenue

                                    Degree Program                                                  14.0                 12.4               12.3

                                    Executive Mgt Programs                                       1.0                   0.4               0.5

                                    Other Income                                                        1.4                   1.4               1.6                  

                                    RLI Revenue                                                         5.8                   3.7               3.6

                                                  Total Revenue                                       22.2                 17.9               18.0

 

                                    Expense

 

                                    Direct                                                                   8.8                   8.8               8.6

                                    Indirect                                                                 7.6                   7.5               7.6

                                    Other                                                                    0.9                   0.9               0.9

                                                   Total Expenses                                     17.3                 17.2               17.1

                                   

                                    Net                                                                      4.9                   0.7               0.9

 

 

Hartford better than anticipated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rensselaer Polytechnic Institute

Operating Activity

                   ($ In millions)

 

 

                                                                                                                                        2000            1999

                                    Internal operating results:

 

                                    Budgetary operating deficit                                                      $(0.2)     $(3.7)

                                    Special purpose resources received,

                                    not yet spent                                                                                4.2               3.6                                                                Restricted purpose resources not spent

                                    from current year receipts                                                              1.5               1.5

                                                                                                                              

                                    Internal operating results                                                          5.5               1.4

 

 

                                    External presentation differences:

 

                                                                         Facilities gifts recorded as operating

                                    revenue                                                                                         5.2               4.8

                                    Corporate and foundation pledges                                                 0.6               6.7

                                    Rensselaer Technology Park results                                               1.0               1.0

                                    Hartford results in excess of operating

                                   contribution                                                                                     (1.0)           2.3

                                    Other                                                                                          -(O.3)            (2.7)

 

 


Externally reported operating result.                                                         $  11.0       $  13.5

 

 

 

 

 

 

Talking Notes

 

Finance Committee

1999-00 Financial Results

 

Operating Results

 

- Special purpose primarily incentive earnings, Engineering startup

- For Hartford to meet its contribution, 1.0 million draw down accumulated

                        earnings

 

Rensselaer Polytechnic Institute

 

Balance Sheet and Cash Flows

 

                        ($ in millions)

                                                                                                                2000                1999

 

                        Total assets                                                                   $1,152                $937

 

                        Total liabilities                                                                     209                  209

 

                        Cash flows from

                        operating activities                                                                20                    16

 

                        Net cash flow                                                                         4                    (3)

 

 

 

                                                       Talking Notes

                                                       Finance Committee

                                           1999-2000 Financial Results -

                             Financial Condition and Cash Flow

-         Financial condition reflects strength, assets surpassed the billion dollar

      level primarily due to extraordinary returns on private equity

-    Liabilities constant - conserve debt

 

 

 

 

 

 

 

 

 


                                                   FY 2001 FINANCIAL OUTLOOK

                                                FALL PRELIMINARY PROJECTIONS

 

            *          $1.4 million in additional undergraduate net tuition revenue

 

            *          Housing and board revenues on target with budget

 

            *          Troy campus graduate enrollment on target with budget

 

            *          Hartford enrollments appear soft

 

*          Rensselaer Technology Park on track, $ 1. I million SW-F)IUS

 

 

 

OPENING DAY PROJECTIONS

 

                   -UNDERGRADUATE REVENUE VARIANCE FROM BUDGET:

                        - 1,312 vs 1,150 freshman - 162 greater

                        - 92 vs 150 new transfers - 58 less

                        - 4,689 fte's vs 4591 - 98 greater

                        - $14,209 per student

                        - $1.4 million in additional net tuition dollars

 

- Housing planned at 2900 residents - capacity; additional students price break to be tripled

 

- Board planned at 2574 participation - 146 higher than last year; participation among on & off campus students has been increasing so already planned an increase; after check in will know if larger freshman class has an impact

 

-GRADUATE REVENUE VARIANCE FROM BUDGET:

 

-Troy campus on target with budget; budget based on stable enrollments, resident opening day 1664 heads vs 1575 heads, distance opening day 3467credits vs 3355 credits

 

-HARTFORD ENROLLMENTS:

 

            -Credit hours down 11-12%

            -Students down 13%

-enrollment decline represents $1 million in revenue

-will defer and/or reduce expenses to hit $2 million

-RLI is okay - upside potential