Consolidated Financial Report - SUNY Canton

Campus Financial PlanSUNY Canton 2012-2013Campus Financial PlanThe 2012-13 New York State Budget wasenacted on March 31, 2012. Governor AndrewCuomo proposed and the Legislatureapproved, funding for SUNY to remain atprior year levels. Additionally, a $300 rationaltuition increase was approved for SUNY.SUNY Canton’s All Funds State-OperatingFinancial Plan for 2012-13 reflects positiveadjustments to the previous year’s base in theamount of $4,523,500 or 14.37% over 2011-12. A majority of the increase is due to SUNYCanton’s increasing enrollment.the need arises during the fiscal year.In addition, budget increases have been approvedfor residence halls (DIFR), variousincome fund reimbursable accounts (IFR’s),including technology, athletics, and CollegeAssociation. Assuming no further reductionsin State support and no surprises in actual enrollments,a surplus is projected for 2012-13.Planning Assumptions• State-Operated All Funds Financial Planwill be based on an enrollment target of3,800 headcount/2,950 FTE.• A $300 tuition increase will be calculatedinto revenue projections with the commensurateTAP credit associated with it.• Campus utility accounts will be increasedby $292,100 due to the opening of theConvocation, Athletic, and RecreationCenter (CARC).A-7Prior to the start of the 2011-12 academic year,the Governor supported, and the Legislatureapproved, a rational tuition plan for SUNYwhich immediately raised tuition by $300per year or $150 per semester. This increaseamounts to a projected increase in tuitionresources of $885,000 less the TAP credit thatapplies to those recipients who have maxedout their TAP eligibility ($255,000).Going into 2011-12, SUNY Canton is in astrong financial position. Increasing enrollmentsover the past seven years have allowedthe College to roll over approximately$7,000,000 in tuition, held in the State UniversityTuition Reimbursable Account (SUTRA)account. The College has the ability to drawon these funds through request to SUNY SystemAdministration in both the annual budgetprocess as well as through special request ifState University of New York at Canton• No restraint will be administered toPresident’s Cabinet constituents unlesscircumstances change dramatically in thecurrent year.• No layoffs.• DIFR and IFR budgets will fluctuate withinpermissible parameters in conjunctionwith planned fee increases.• College Association budgets will fluctuatein conjunction with planned fee increases.• Shared Services Administrative Alliancewith SUNY Potsdam will require time, effort,and a budget to yet be determined.