11am-12noon
Online via Zoom
Zoom Link
https://ufl.zoom.us/j/6807216741
Members
NN (Chair), CR (FCP representative), ME, LE, VV, JK
In Attendance
Dean Good and HS
Agenda Items
- Apologies
- Linda and Dean Good
- Items for agenda?
- Budget overview and updates (Hector)
- Discussion with Dean Good re. College budget
- Updates of University level impacts to College budget(s)
- AOB
Notes
HS provided an overview and update on budget.
This fiscal year we are 20% more/up on budget.
Utilization of care forward and IDR return.
Overview: all funds looking positive – mainly due to NWRI and Lastinger.
We have been trending up, as a result of the NWRI and State carry forward.
Gifts and endowments have been more productively utilization.
Latest adjustment taking block funding.
Help to pay RCM taxes (“ABC activity-based costing”) – for fiscal 2025.
70% for on-book tuition and 30% research spend.
We handled this change well (change to RCM model).
Motivation: greater metric-based processes/procedures.
CR asked about decision making now based on these changes.
HS stated that we are conservative and hold money back. We know 2024 will be a “nice year”. But ABC might be challenging for 2025. We feel good about this, but still do not know.
Reminder that provost does not fund state-employee raises.
HS gave a breakdown of the budget section at a time.
In terms of expenditures, all schools are a little under the % of the fiscal year (less that 58.33%).