2013-14 Operating & Capital Budget Plan - Cornell University ...

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Capital Plan — 2013–1448LEASED SPACEIn addition to the facilities the university owns tocarry out its mission, Cornell has a relatively extensiveportfolio of leased space, both as tenant and landlord,at its Ithaca and New York City locations and in otherparts of the state, the country, and the world.As a tenant, Cornell leases approximately 1.2 millionsquare feet of space, nearly 75 percent of which is forthe Medical College in New York City (see Figure 15).The space leased by the Medical College (nearly 900thousand square feet) is 80 percent for college usesand 20 percent for the Physicians Organization. Thespace leased for non-Medical College uses is largelyin New York State – Tompkins County (53 percent),New York City (24 percent), and other New YorkState (8 percent) – but also in other parts of the U.S.(13 percent) and the world (2 percent).As a landlord, the university leases approximately300 thousand square feet to others. Nearly all of it(92 percent) is in Tompkins County and two-thirdsof it is commercial space, with the balance beingprincipally residential and storage.The schedule of lease commitments by operatingunit identifies the present value of payments onleased space for the remaining lease term, the sourceof funding for those costs, and the annual amount foreach of the next three fiscal years (see Table 9). Thepresent value of all current space lease commitmentsis approximately $195.8 million, more than 80 percentof which is for space for the Medical College. In addition,the projected cost for new leases or lease extensions,with a present value greater than $250,000to be executed over the next three fiscal years, totals$23.6 million in present value.Leased Space ProcessIn December 2012, the university approved an updatedprocess for the identification of need, review,and approval of leased space. Prior to pursuing anynew lease or lease extension with a term of one year ormore, the request must be reviewed by the university’sSpace Use Advisory Committee. Once the need hasbeen vetted and confirmed by that group, the identificationof space to be leased and negotiation ofterms will be done by the Real Estate department inIthaca or relevant unit in New York. The lease transactionapproval levels and authorities have notchanged, but the request for approval is now to besubmitted through a standardized Lease ApprovalRequest document, similar in nature to the ProjectApproval Request used for capital projects.Figure 15. Cornell Leased Space by Unit
Table 9: Current Lease Commitments and Lease ExtensionsCurrent Lease Commitmentsby Operating Unit(dollars in thousands)06/30/13LeaseNPV*1. Agriculture & Life Sciences 1,510 1,452 58 218 119 1152. Architecture, Art & Planning 1,645 1,645 969 380 1413. Computing & Information Science 233 233 2334. Engineering 587 587 166 166 1665. Human Ecology 2,453 1,857 596 665 497 5036. Industrial & Labor Relations 7,911 7,911 1,560 1,669 1,6037. Johnson 414 414 127 112 978. Colleges Subtotal 14,754 233 13,867 654 3,939 2,944 2,6259. Research 60 60 44 1610. Other Academic 45 45 40 511. Academic Support Subtotal 104 45 60 84 21CentralFundsSOURCES OF FUNDINGUnit/EnterpriseLEASE PAYMENTSOtherGov’t/Inst 13-14 14-15 15-1612. Alumni Affairs & Development 9,881 9,529 352 1,415 1,056 1,04613. Facilities Services 650 650 174 174 17414. Financial Affairs 697 697 510 19815. Financial Aid 71 71 7116. Government Affairs 533 533 117 95 8517. Human Resources 183 183 18318. Student & Academic Services 164 164 139 2719. University Communications 373 373 281 9720. Central University 8,130 8,130 840 817 81721. Administration Subtotal 20,683 19,516 1,167 3,732 2,464 2,12222. Weill Cornell Medical College 157,666 69,459 85,104 3,102 21,524 20,596 20,05323. Subsidiaries 2,607 2,607 395 405 415Capital Plan — 2013–1424. University Total 195,814 89,208 100,182 6,423 29,674 26,430 25,215Lease ExtensionsNet Present Value > $250K(dollars in thousands)Unit ±EstimatedLeaseNPV*1. East Hill Plaza, Ithaca, NY ƚ DFA 394 394 3942. 35 Thornwood Dr., Ithaca, NY ƚ DFA 1,128 1,128 1,1283. 312 College Ave., Ithaca, NY Comm. 844 844 8444. 409 College Ave., Ithaca, NY SAS 280 280 2805. 230 Park Ave., New York, NY AAD 1,797 1,797 1,7976. 502 Park Ave., New York, NY Central 315 315 3157. 50 W. 17th St., New York, NY AAP 889 889 8898. 211 East 80th St., New York, NY WCMC PO 7,200 7,200 7,2009. 40 Worth St., New York, NY WCMC PO 349 349 34910. 1300 Franklin Ave., Bronx, NY WCMC PO 545 545 54511. 56 West 45th St., New York, NY WCMC 519 519 51912. 418 East 71st St., New York, NY WCMC 2,508 2,508 2,50813. 237 Main St., Buffalo, NY ILR 332 332 33215. Palazzo Lazzaroni, Via Dei Barbieri,Rome, ItalyAAP 1,558 1,558 1,55815. Total 18,659 5,708 12,951 9,661 6,158 2,840CentralFundsSOURCES OF FUNDINGUnit/EnterpriseLEASE EXECUTIONOtherGov't/Inst 13-14 14-15 15-1649New Leases1. New York, NY Johnson 4,276 4,276 4,2762. New York, NY CHE 661 661 6613. Total 4,937 4,937 4,937Notes:* Net Present Value± Division of Financial Affairs (DFA), University Communications (Comm.), Student & Academic Services (SAS), Alumni Affairs & Development(AAD), Architecture, Art & Planning (AAP), Weill Cornell Medical College Physician Organization (WCMC PO), Industrial & Labor Relations(ILR), College of Human Ecology (CHE).ƚ Cornell is both tenant and landlord
Page 1 and 2: 2013-2014Operating & CapitalBUDGET
Page 3: ContentsFROM THE VICE PRESIDENT....
Page 9 and 10: “We are of course indebted to our
Page 11 and 12: Table 3: Ithaca Campus - Summary(do
Page 13 and 14: Industrial& LaborRelationsJohnsonSc
Page 15 and 16: Operating Budget — Details13impor
Page 18 and 19: plan was approved in September and
Page 20 and 21: Operating Budget — Details18Law S
Page 22 and 23: Operating Budget — Details20WEILL
Page 24 and 25: The New Budget ModelThe New Budget
Page 26 and 27: The New Budget Model24external fell
Page 28 and 29: The New Budget Model26research cent
Page 30 and 31: Implementing AdministrativeEfficien
Page 32 and 33: Financial Recovery30dropped to 6.5,
Page 34 and 35: Figure 8.Financial RecoveryFigure 9
Page 36 and 37: Institutional Intelligence:I 2 at C
Page 38 and 39: Strategic PlanningSince its foundin
Page 40 and 41: Space PlanningSuccessful space mana
Page 42 and 43: Capital Plan - 2013-14Capital Plan
Page 44 and 45: Figure 13. Funding Sources - FY 201
Page 46 and 47: Table 6: Approved Capital Activity
Page 48 and 49: Table 7: Sources and Uses of Capita
Page 53 and 54: AppendicesA Academic Year Tuitions.
Page 55 and 56: BStudent Fees and Other Tuition Rat
Page 57 and 58: DProfile: Class of 2016CLASS OF 201
Page 59 and 60: D CONT.COMPARATIVE DATA: 2012 FALL
Page 61 and 62: FUndergraduate Tuition and FeesSele
Page 63 and 64: HUndergraduate Financial AidSource
Page 65 and 66: JFacilities and Administrative Cost
Page 67 and 68: LEndowment Market Valuefor Selected
Page 69 and 70: NCornell Now Campaign - Through Mar
Page 71 and 72: O CONT.SOURCES OF FUNDINGPROJECT EX
Page 73 and 74: O CONT.SOURCES OF FUNDINGPROJECT EX
Page 75 and 76: QProjected Maintenance Funding - It
Page 77 and 78: SRoom and Board Rates - Ithaca Camp
Page 79 and 80: UExisting Budget ModelsThe Ithaca c
Page 81 and 82: V CONT.• Academic facilities shou
Page 83 and 84: W CONT.• Cross-functional working
Page 85 and 86: X CONT.CRITERIA FOR DECISION-MAKING
Page 87 and 88: ZInterdepartmental Fee GuidelinesAp
Page 89 and 90: Z CONT.preparing the fee request- E
Page 91: PRINTED ON FSC-CERTIFIED PAPER WITH

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