As Executive Director of Pittance for Oshkosh State University, you need to prep

Question

As Executive Director of Pittance for Oshkosh State University, you need to prepare the budget for the 2013-2014 academic- year. Your staff has collected the following information for the current academic year (2012-2013): For the 2013-2014 academic year: All faculty will receive a 6% salary increase Undergraduate enrollment is expected to decline by 2%, but graduate enrollment is expected to increase by 5% The budget for operation and maintenance facilities is $500,000, which includes $240,00 for salaries. Salaries will increase by 6% and other operating costs will increase by $12,000. Tuition is $70 per credit hour. In addition, state aid provides $780 per full-time equivalent student. A full-time equivalent is 30 undergraduate hours or 24 graduate hours. Tuition scholarships are given to 30 full-time undergraduates and 50 full-time graduate students. The theater classroom building needs remodeling and the projected cost is $575.000. The remaining expenditures. with comparison to prior year. are projected as follows: Revenues other than tuition and state aid are as follows: Prepare a schedule for 2013-2014 that shows, by division and in total, (a) expected enrollment, (b) total credit hours, (c) full-time equivalent enrollment, and (d) number of faculty members needed. Calculate the budget for faculty salaries for 2013-2014 by division. Calculate are the budget for tuition revenue and state aid for 2013-2014 by division Prepare a schedule showing budgeted revenues, budgeted expenses and the amount of cash. if any, needed from fundraising. Prepare a commentary for the university president on the projected budget for 2013-2014 and its comparison to 2012-2013.

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