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Budget reduction proposal, July 1, 2007-June 30, 2009

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Title:
Budget reduction proposal, July 1, 2007-June 30, 2009
Physical Description:
1 online resource (12 p.) : col. ill. ;
Language:
English
Creator:
University of South Florida
Publisher:
University of South Florida
Place of Publication:
Tampa, Fla.
Publication Date:

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Genre:
review   ( marcgt )
statistics   ( marcgt )

Notes

General Note:
Title from caption.
General Note:
"May 21, 2008."
General Note:
Handout distributed at University of South Florida Faculty Senate meeting May 21, 2008.
Statement of Responsibility:
University of South Florida.

Record Information

Source Institution:
University of South Florida Library
Holding Location:
University of South Florida
Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
aleph - 228444410
usfldc doi - U24-00003
usfldc handle - u24.3
Classification:
System ID:
SFS0000105:00001


This item has the following downloads:


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Budget reduction proposal, July 1, 2007-June 30, 2009
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Handout distributed at University of South Florida Faculty Senate meeting May 21, 2008.
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1 Budget Reduction Proposal July 1, 2007-June 30, 2009 (May 21, 2008) Principles and Priorities: Plan for a 15% base budge t reduction over two years.1 Prioritize progress toward the goa ls of USF’s Strategic Plan, 20072012 (approved by the USF Board of Trustees on May 31, 2007), through implementing target ed reductions over across-the-board cuts. All campuses and state budgeted units are subject to the reduction. Strengthen the institution’s commitment to student learning, to ensure that those students currently enrolled can progress toward timely graduation. Implement structural reorganiza tion to strengthen USF’s positi on for future strategic growth. Protect, as high priorit y, the faculty’s research and innovation activities. Secure the financial inte grity of the institution. Critically evaluate operations based on: Quality – Centrality – Demand – Viability Identify (a) cost savings, and/or (b) new revenues, through unit and/ or program (incl uding centers and institutes): o Restructuring and consolidation, including the promotion of more streamlined and integrated services, and interdisci plinary collaborations, o Redirection, o Reduction, and o Elimination. Maximize efficiency and effectiveness in institutional practices: o Discontinue non-essential services and freeze non-essential expenditures. o Identify opportunities for cost saving s through changed bus iness practices. o Cost containment is particularly important given Florida’s dimi nishing economic climate and the general escalation of costs faced by students, faculty and staff. 1 In response to the fiscal year 2008/09 budget adopted by the Florida Legislature, the USF System’s base budget reduction, from July 1, 2007 to July 1, 2008, is $35.6 milli on or -10.6%. Some reductions w ill be offset through a strategic reinvestment of a limited amount of recurring and/or non-recurring funds. Furthermore, in light of Florida’s deteriorating economic climate (as of May 21, 2008), plans for a -15% re duction anticipate the possibility of a further reduction in fiscal year 2008/09. If an additional reduc tion is not realized in FY 08/09 the r ecurring funds (or an equivalent amount of non-recurring “cash”) held in reserve (approximately $15 m illion or 4.4%) may be re-invested to support USF’s core academic mission and strategic priorities.

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2The Budget Reduction Process 2 1. Units took a 3.6% base budget reduction in Fall 2007. 2. The Faculty Senate Budget Priorities Advisory Task Force (including faculty, students and staff) conducted its review of programs during Fall 2007 and early Spring 2008. Responses were provided by chairs, directors and deans. 3. The Budget Planning Workgroup (comprised of deans, chairs and faculty representatives) was appointed, with a charge to: Re-set unit base budgets (using an equitable, rational and transparen t set of ratios, to the extent available resources allow) to ensure units can fulfill their mission effective July 1, 2008, Establish budget and fiscal management principles, and Develop a clear, coherent, and engaged budget planning process for the future. 4. An independent critical review of all units (utilizing both qual itative and empiri cal evidence of nationally benchmarked performance) was completed by the Provost’s Office in consultation with deans during Spring 2008. 5. An assessment was conducted of the administrative and operational overhead for all small academic units (i.e. less than 10 tenured and/ or tenure-earning faculty), along with a cost-benefit analysis of all centers and institutes receiving state funds. 6. Based upon a commitment to preserve all tenured a nd tenure-earning faculty, al l hiring (of faculty and staff) was frozen during Spring 2008. Exceptions were considered based upon a published set of guidelines. 7. Non-essential expenditures were frozen during Spring 2008. Exceptions were considered based upon a published set of guidelines. 8. Extensive and transparent consultation occurred with d eans, chairs, directors, faculty, students and staff, including open “Campus Convers ations”, throughout Spring 2008. 9. Colleges submitted 3.0% base budget reduction plans (for FY 2008/09) in Spring 2008. The Scope of the Budget Reduction: (as of May 21, 2008) In fiscal year 2007-08, the USF System experienced two base budget reductions that amounted to $16.6 million. In the Fall of 2007, we received a $12.2 milli on reduction. In the Spring of 2008, we received a $4.4 million reduction. Our fiscal year 2008-09 budget includes an additional $19.0 million base budget reduction. USF’s total base budget reduction from July 1, 2007, to July 1, 2008, is $35.6 million (-10.6%) in recurring funds. Potential Impact on Employees: USF has preserved all tenured and tenure-earning faculty. The proposed reductions may result in the elimina tion of up to 7 non-tenure earning faculty and 66.75 staff positions across the USF System. Information regarding the layoff process and support services can be found at: http://usfweb2.usf.edu/hr/Gen eralInfo/BudgetReduction.html Reduced access to buildings on certain days and at certain times. Promotional raises will be awarded. Some positions will move from stat e-funded to non state-funded budgets. Adjusted building temperatures. Reduced maintenance support and services (grounds, custodial and maintenance). Delays in financial and huma n resources processing times. Reduction in support for intra-campus relocations. 2 This process was followed by USF Tampa (Academic Affairs) Separately budgeted units may have adopted different processes. Alternative budget reduction strategies ma y be obtained from other vice president offices.

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3Potential Impact on Students: USF has increased student financial aid. USF has preserved all undergraduat e and graduate degree programs. USF has minimized the impact on direct co-curricular programs and services. Academic support services have been improved th rough a consolidated Student Learning Commons. The number of students in classe s will continue to increase. The array of classes offered and number of sections (by day and time) will be reduced. Students may experience delays in advising and service delivery along with reduced programs and activities. There may be reduced opportunities for student employment. Tuition and fees for service will increase. Continuing Strategic Budget Plan ning in Academic Affairs: The Budget Planning Workgroup continues its work to (a) re-set academic unit base budgets effective July 1, 2008 (b) establish budget and fiscal management principles, an d (c) develop a clear, coherent, and engaged budget planning process for the future. Discussions surrounding structural reorganization to strengthen USF’s future position for strategic growth continue. Strategic investments of recurring an d non-recurring funds will be made to offset some of the reductions effective July 1, 2008. Can USF’s Unrestricted Net Assets or Other Revenue Sources be us ed to offset the Budget Reduction? USF is carefully examining the utility of availabl e and liquid unrestricted non -recurring funds to offset the reductions in r ecurring funds during th e 2008/09 fiscal year. It is important to point out that: o Not all “unrestricted” funds are “uncommitted”. The $240 M (as of June 30, 2007) identified in USF’s state-audited report incl uded funds committed to faculty research initiative accounts; auxiliary debt service and operations; the Florid a Institute of Phosphate Research; statutorily required reserves; and undistributed tuition (for Summer 2007); as well as carry-forward state funds. o These “unrestricted” funds are non-recurring “cash” which cannot be used to support recurring expenses such as the hiring of tenured and tenureearning faculty, or salary increases for faculty and staff. o USF is no longer a state agency. Stat e funds that are carried forward in reserve have been used to (a) meet coverage of USF’s “compensated absen ce” obligations (i.e. leave payouts), and (b) to address the Board of Trustees’ insistence that at least one month’s worth of payroll and institutional expenditures (approximately $75 M) be held in reserve. This will ensure that USF can pay employees during times of financial or other exigency. o These unrestricted net assets have been instrumental in securing USF’s financial integrity and meeting the strategic plan’s bond rating goal. This ensures favorable intere st rates on outstanding debt, lowering the cost of meeting those obligations. Based upon the June 30, 2008 balance of unrestricted net assets USF plans to begin to draw down, where possible, the pool of carry-for ward state funds to use cash (for 1-2 years) to balance losses in recurring funds. Such action must preserve USF’s l ong-term financial health and will require approval of the Board of Trustees. Other sources of institutional reve nue include, but are not limited to, student A&S fees; state and federal financial aid; contracts and gran ts; endowment funds (including scho larships); auxiliary funds (e.g. student housing and parking); athle tic revenues (please note that onl y a small amount of state funds, earmarked to support Title IX programming, are alloca ted to USF’s intercollegi ate athletic programs); and construction funds tend to be restricted and cannot be used to offset redu ctions in state funding.

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4Summary of the Proposed Budget Reduction: Target: USF System = $50.38 M (-15%) = ($35.60 M or -10.6% for July 1, 2007-July 1, 2008) USF Tampa = $32.96 M (-15%) = ($23.29 M or -10.6% for July 1, 2007-July 1, 2008) Academic Affairs = $21.86 M (-15%) = ($15.45 M or -10.6% for July 1, 2007-July 1, 2008) USF Health = $9.52 M (-15%) = ($6.73 M or -10.6% for July 1, 2007-July 1, 2008) USF Regional Campuses = $7.90 M (-15%) = ($5.58 M or -10.6% for July 1, 2007-July 1, 2008) USF St. Petersburg = $4.22 M (-15%) = ($2.98 M or -10.6% for July 1, 2007-July 1, 2008) USF Sarasota-Manatee = $2.17 M (-15%) = ($1.53 M or -10.6% for July 1, 2007-July 1, 2008) USF Polytechnic = $1.51 M (-15%) = ($1.07 M or -10.6% for July 1, 2007-July 1, 2008) Please note : The following proposed reductions do not reflect final budgets for the 2008/09 fiscal year. Additional strategic investments of recurring and non-recurring funds will be made to offset so me of the reductions effective July 1, 2008. Detailed budget comparisons for July 1, 2007, and July 1, 2008 will be posted at th e beginning of the new fiscal year. The notes following each unit represent the manner in which proposed reductions will be taken and/or the restructuring for future strategic growth.

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5USF Tampa Proposed Reduction Please Note: Position reduction counts include both vacant lines and those subject to potential layoff, although some positions may be filled through strategic budget restoration prior to July 1, 2008. Executive Offices ($0.920 M) [Position reductions = 0 Faculty; 5 Staff; Po tential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 3] University Services ($9.020 M) [Position reductions = 0 Faculty; 64 Staff; Potential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 19] Budget Planning & Analysis ($0.064 M) Campus Business Services ($0.111 M) Enterprise Business Systems ($0.061 M) Environmental Health & Safety ($0.112 M) EVP/Admin AVP Offices ($0.257 M) Facilities Planning & Construction ($0.418 M) Human Resources ($0.405 M) Information Technology ($1.076 M) Physical Plant ($3.456 M) Treasurer ($0.015 M) Controller’s Office ($0.412 M) Reorganization, consolidation and ef ficiencies ($2.643 M) Student Affairs ($0.690 M) [Position reductions = 3 Faculty; 5.59 Staff; Potential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 2.5] Office of the Vice President ($0.493 M) Students Rights and Responsibilities ($0.035 M) Student Learning Services ($0.165 M) Advocacy Program ($0.010 M) Counseling Center/EAP ($0.178 M) Campus Recreation ($0.089 M) Student Disability Services ($0.019 M) TOTAL Reductions in State Funding ($0.989 M) State funds available for Strategic Reinvestment $0.299 M University Advancement ($0.568 M) [Position reductions = 0 Faculty; 0 Staff; Po tential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] All recurring state funding eliminated Office of Research ($0.240 M) Total Reduction (Non-Academic Affairs) ($11.440 M) Projected additional savings th rough changed business practices: FICA Alternative ($1.000 M) Winter break closure TBD Building closures (reduced to a 112 hour week) ($0.500 M) Purchasing consolidation of office supplies and technology TBD Total Potential Reduction (Non-Academic Affair s plus projected business savings) ($12.940 M)

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6Academic Affairs’ Proposed Base Reduction and Strategic Realignments Please note : The following proposed reductions do not reflect final academic budgets for the 2008/09 fiscal year. Additional strategic investments of recurring and nonrecurring funds will be made to offset some of the reductions effective July 1, 2008. De tailed budget comparisons for July 1, 2007, and July 1, 2008 will be posted at the beginning of the new fiscal year. The notes follo wing each unit represent the manner in which proposed reductions will be taken and/or the restructuring for future strategic growth. Provost’s Office ($0.797 M) [Position reductions = 2 Faculty; 3.5 Staff; Potential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Loss of vacant staff positions Coordinate Center for Community Engaged Scholarship and Research (formerly USF Collaborative for Children, Families and Communities) Reduce investment in Graduate and Research Thrust Areas College of Arts and Sciences ($6.882 M) [Position reductions = 41 Faculty; 30 Staff; Potential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 7] Loss of vacant faculty and staff positions Administrative realignment of College Consolidation of administration & operating support for small units with the retention of identity and academic autonomy Incorporation of the Institute for the Study of Latin America and the Caribbean with the retention of Institute identity and academic autonomy Incorporation of the Institute on Black Life with the retention of Institute identity and academic autonomy Incorporation of the Department of Economics Relocation of the Department of Rehabilitation and Mental Health Counseling Eliminate state funding for the Ce nter for Mathematical Services College of Business ($2.235 M) [Position reductions = 15 Faculty; 1.5 Staff; Potential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Loss of vacant faculty and staff positions Relocation of the Department of Economics Eliminate state funding for Institute for Information Systems Management College of Education ($3.740 M) [Position reductions = 35.5 Faculty; 16 Staff; Potential Non-Tenure-Earning Instructional Faculty Layoffs = 1; Potential Non-Instructional Fa culty Layoffs = 2; Potential Staff Layoffs = 7] Loss of vacant faculty and staff positions Consolidation of administration and operating support for small units Reduce state funding for the Anchin Center Reduce state funding for the Institute for At-Risk Infants, Children, Youth and their Families Reduce state funding for the Su ncoast Area Teacher Training College of Engineering ($3.280 M) [Position reductions = 16 Faculty; 9.5 Staff; Potential Non-Tenure-Earning Instructional Faculty Layoffs = 1; Potential Non-Instructional Fa culty Layoffs = 1; Potential Staff Layoffs = 2.5] Loss of vacant faculty and staff positions Consolidation of administration and operating support Eliminate state funding for the Clean Energy Research Center Reduce state funding for the Nano materials and Nanomanufacturing Research Center Reduce state funding and relocate Academic & Professional Engineering Excellence (APEX) to Educational Outreach

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7College of Visual and Performing Arts ($2.288 M) [Position reductions = 24 Faculty; 13 Staff; Potential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 2] Loss of vacant faculty and staff positions Incorporation of the School of Architecture and Community Design Incorporation of the Florida Center for Community Design and Research College of Marine Science ($1.308 M) [Position reductions = 11 Faculty; 2 Staff; Potential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 1; Potential Staff Layoffs = 1] Loss of vacant faculty and staff positions Consolidation of administration Florida Mental Health Institute ($1.294 M) [Position reductions = 8.75 Faculty; 17.5 Staff; Potential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 1; Potential Staff Layoffs = 2] Loss of vacant faculty and staff positions Consolidation of administration and operating support for small units Incorporation of the Department of Rehabilitation and Mental Health Counseling Relocate the Collaborative for Children, Families and Communities School of Architecture ($0.565 M) [Position reductions = 6.5 Faculty; 2 Staff; Potential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 2] Loss of vacant faculty and staff positions Consolidation of administration and operating support for small units Relocation of the School of Architectur e and the Florida Center for Community Design and Research to the College of Visual and Performing Arts Honors College ($0.107 M) [Position reductions = 0 Faculty; 0 Staff; Po tential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Reduction of operating funds Undergraduate Studies ($0.595 M) [Position reductions = 2 Faculty; 11.25 Staff; Potential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Loss of vacant staff positions Establish the Student Learning Commons Implement Emerging Health Professions academic programs The Graduate School ($0.325 M) [Position reductions = 0 Faculty; 5.75 Staff; Potential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Loss of vacant staff positions Incorporate International Graduate Admissions Center for International Affairs ($0.344 M) [Position reductions = 0 Faculty; 7.5 Staff; Potential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 1] Loss of vacant staff positions Consolidation of administration and operating support for small units Relocation of the Institute for the Study of Latin America and the Caribbean with the retention of Institute identity and academic autonomy

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8University Library ($0.789 M) [Position reductions = 6 Faculty; 14.5 Staff; Potential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Loss of vacant staff positions Host location for the Student Learning Commons Implementation of automated checkout of materials Educational Outreach ($2.873 M) [Position reductions = 0 Faculty; 7 Staff; Po tential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Loss of vacant staff positions Significantly reduce state funding Terminate classes at University Mall Relocate Classroom Technology Services Reduce costs for the Downtown Center Florida Institute of Oceanography ($0.247 M) [Position reductions = 2 Faculty; 4 Staff; Po tential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Loss of vacant staff positions Institute on Black Life ($0.056 M) [Position reductions = 0.75 Faculty; 2 Staff; Potential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 2] Consolidation of administration and operating support for small units Relocation to the College of Arts & Sciences with the retention of Institute identity Science Literacy Initiative ($0.070 M) [Position reductions = 0 Faculty; 1 Staff; Po tential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Loss of vacant staff position Elimination of state funding for the program Patel Center for Global Solutions ($0.075 M) [Position reductions = 1 Faculty; 0 Staff; Po tential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Loss of vacant f aculty position Reduction in state funding Academic Computing ($0.354 M) [Position reductions = 0 Faculty; 4 Staff; Po tential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Loss of vacant staff positions Incorporation of Classroom Technology Services Enhanced cost efficiencies (e.g. g-mail) Purchasing consolidation of technology Office of Decision Support ($0.216 M) [Position reductions = 0 Faculty; 3 Staff; Po tential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Loss of vacant staff positions Enrollment Planning and Management ($0.003 M) [Position reductions = 0 Faculty; 0 Staff; Po tential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Reduction of operating funds

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9Undergraduate Admissions ($0.240 M) [Position reductions = 0 Faculty; 4 Staff; Po tential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Loss of vacant staff positions Incorporation of International Undergraduate Admissions Registrar ($0.224 M) [Position reductions = 0 Faculty; 4 Staff; Po tential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Loss of vacant staff positions Financial Aid ($0.205 M) [Position reductions = 0 Faculty; 4 Staff; Po tential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Loss of vacant staff positions Increase in student financial aid Scholarship Office ($0.107 M) [Position reductions = 0 Faculty; 2 Staff; Po tential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Loss of vacant staff positions Consolidation with Office of Financial Aid Faculty Senate ($0.003 M) [Position reductions = 0 Faculty; 0 Staff; Po tential Non-Tenure-Earning Instructional Faculty Layoffs = 0; Potential Non-Instructional Fa culty Layoffs = 0; Potential Staff Layoffs = 0] Total Position reductions in Academic Affairs: 170.5 Faculty 178.5 Staff Non-Tenure-Earning Instructional Faculty Layoffs = 2 Potential Non-Instructional Faculty Layoffs = 5 Potential Staff Layoffs = 26.5 $7.360 M Committed to strategic reinvestment by USF Tampa (Academic Affairs), based upon recommendations by the Budget Planning Workgroup (comprised of faculty, chairs and deans) The top priority will be placed on enhancing academic delivery to meet student access and success through addressing instructional shortfalls br ought about by the reduction of vacant faculty positions. Other priorities will include the recruitment of full-time faculty and advisors, faculty retention, and the strengthening of departmental infrastructure.

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10New revenue (estimated) : USF USF Health Regional USF System (Pending approval by the Governor Campuses and/or the USF Board of Trustees) +6% UG resident tuition $3.41 M $0.23 M $0.68 M $4.32 M (-30% for need-based FA) ($1.02 M) ($0.07 M) ($0.20 M) ($1.29 M) +9% UG resident differential $1.80 M $1.80 M (-30% for need-based FA) ($0.54 M) ($0.54 M) -10% UG out-of-state fee ($1.12 M) ($0.06 M) (S0.12 M) ($1.30M) +6% GR resident tuition $1.43 M $0.41 M $0.20 M $2.04 M -10% GR out-of-state fee ($1.06 M) ($0.15 M) ($0.02 M) ($1.23 M) +4% GR resident differential $0.36 M $0.02 M $0.09 M $0.47 M (COB; CRNA; DNP) +6% Prof MD $0.50 M $0.50 M +4.5% DPT $0.05 M $0.05 M 0% Non-resident MD $0.35 M $0.35 M +4.5% Non-residential DPT $0.00 M $0.00 M Legislative appropriation (MD) $1.70 M $1.70 M TOTAL $7.00 M $3.23 M $0.97 M $11.20 M (Need-based financial aid) ($1.56 M) ($0.07 M) ($0.20 M) ($1.83 M) (Reduced out-of-state fee) ( $2.18 M) ($0.21 M) ($0.14 M) ($2.53 M) $3.26 M $2.95 M $0.63 M $6.84 M New tuition will be committed to strategic reinvest ment consistent with Florida Statute. The top priority will be placed on enhancing academic delivery to meet student access and success through addressing instructional shortfall s brought about by the reduction of vacant faculty positions. Other priorities will include the recruitment of fu ll-time faculty and advisors, faculty retention, and the strengthening of departmental infrastructure.

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University of South Florida June 2007 Analysis of Unrestricted Net Assets Other Unrestricted COMMITTED E & G (Unspent 06/07 (e.g. Athletics, Unrestricted Appropriation) Florida Institute of Financial Aid) USF BOT Reserve Phosphate Research $18,654,762 COMMITTED $10,893,198 4% Blended Units (e.g. WUSF) COMMITTED $2,009,212 1% I Research Initiative COMMITTt $26,947,0 A 11% E & G Carryforward USF BOT Reserve $41,012,617 17% Student Tuition COMMITTED $23,826.418 10% I E & G Statutory Reserve COMMITTED $26,000,000 11% Auxiliary (includes bonded projects) COMMITTED $54,509,791 23%

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E & G (Unspent 06/07 Appropriation) E & G Carryforward dent Tuition (COMMI search Initiative (CO lended Units (COMMITTED) lorida Institute of Phosphate Research (COMMITTED) Other Unrestricted