Western State University (WSU) is preparing its master budget for the upcoming a
ID: 2400179 • Letter: W
Question
Western State University (WSU) is preparing its master budget for the upcoming academic year. Currently, 14,000 students are enrolled on campus; however, the admissions office is forecasting a 8 percent growth in the student body despite a tuition hike to $80 per credit hour. The following additional information has been gathered from an examination of university records and conversations with university officials:
•WSU is planning to award 150 tuition-free scholarships.
•The average class has 35 students, and the typical student takes 20 credit hours each semester. Each class is four credit hours.
•WSU’s faculty members are evaluated on the basis of teaching, research, and university and community service. Each faculty member teaches five classes during the academic year.
Required:
1.Prepare a tuition revenue budget for the upcoming academic year.
2.Determine the number of faculty members needed to cover classes.
3.Assume there is a shortage of full-time faculty members. Select at least five actions that WSU might take to accommodate the growing student body by selecting an "X" next to the action.
4.You have been requested by the university’s administrative vice president (AVP) to construct budgets for other areas of operation (e.g., the library, grounds, dormitories, and maintenance). The AVP noted: “The most important resource of the university is its faculty. Now that you know the number of faculty needed, you can prepare the other budgets. Faculty members are indeed the key driver—without them we don’t operate.” Are faculty members a key driver in preparing budgets?
Prepare a tuition revenue budget for the upcoming academic year.
Tuition revenue budget:
Total student body
0
Tuition-paying students
0
Total credit hours
0
Determine the number of faculty members needed to cover classes.
Faculty needed
Assume there is a shortage of full-time faculty members. Select at least five actions that WSU might take to accommodate the growing student body by selecting an "X" next to the action.
Hire part-time instructors
Use graduate teaching assistants
Increase the teaching load for each professor
Reduce the number of courses offered.
Increase class size and reduce the number of sections to be offered
Have students take an Internet-based course offered by another university
Shift courses to a summer session
You have been requested by the university’s administrative vice president (AVP) to construct budgets for other areas of operation (e.g., the library, grounds, dormitories, and maintenance). The AVP noted: “The most important resource of the university is its faculty. Now that you know the number of faculty needed, you can prepare the other budgets. Faculty members are indeed the key driver—without them we don’t operate.” Are faculty members a key driver in preparing budgets?
Yes
No
Explanation / Answer
Answer 1. Total Students - 14,000 Students X 108% 15,120 Less: Tution Fees Scholarship 150 Revenue Generating Students 14,970 Credit Hours per Year 20 Total Credit Hours - 14,970 X 20 hrs 299,400 Tution Rate per Hour 80.00 Budgeted Tution Revenue 23,952,000.00 Answer 2. Number of Students 15,120 No. of Classes per Student per Year 10 Projected Stusdents Enrollment 151,200 Average Number of students 35 Classes to be taught/academic year 4,320 Classes taught/professor 5 Faculty Needed 864 Answer 3. 1. Hire part-time instructors 2. Use graduate teaching assistants 3. Increase the teaching load for each professor 4. Increase class size and reduce the number of sections to be offered 5. Shift courses to a summer session Answer 4. No. The number of students and the resultant tuition revenue are really the key drivers.
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