2001-02 Annual Report Highlights
Budget Highlights
- The state budget provided $2,080,000 to support phase I of The Milwaukee
Idea action plan initiatives.
- UWM’s share of the UWS 01-02 budget reduction was $760,000.
- The state authorized pay plan increases of 3.2 percent (faculty and
academic staff) and 1.0 percent (nonrepresented classified staff). Most
of these increases were funded by increases in tuition.
- Resident undergraduate and graduate tuition increased by 8.4 percent.
Nonresident tuition increased by 15.4 percent for undergraduates (12.9
percent for the fall semester and an additional 2.5 percent for the spring
semester) and by 10.4 percent for graduate students. Of the increase, 1.4
percent was earmarked for support of The Milwaukee Idea budget initiative.
Financial Results Highlights
- Compared to the 2000-01 fiscal year, UWM total expenditures increased
by $15M (million) (4.4 percent); total revenues increased by $9.5M (2.7
percent).
- Tuition revenue increased by $11.5M (12 percent) due to planned enrollment
increases and the tuition rate increases noted above.
- Federal grants and contracts revenue increased by $8.7M (23 percent)
primarily due to increases in federally funded research, instruction and
student services program support.
- Instruction expenditures increased by $12.7M (10 percent) primarily
due to increases in tuition revenues and extramural support.
- There was a decrease in state appropriation revenues ($8M) and mandatory
transfer expenditures ($9M). Most of this decrease can be attributed to
a reduction in debt service payments on our facilities. Based on legislative
action to take advantage of lower interest rates, the state refinanced
general obligation bonds and notes during the year. This resulted in a
deferral of some scheduled 01-02 principal payments to future years, as
well as some interest savings.
2002-03 Budget Highlights
- The state budget provided an additional $8,898,000 to support phase
I of The Milwaukee Idea action plan initiatives. Total funding for this
initiative is now $10,978,000. This is a decrease of $5,022,000 from the
$16,000,000 in cumulative base increase funding initially approved by the
Legislature in August 2001.
- UWM’s share of the UWS 02-03 budget reduction was $2,255,000.
- The state authorized total average pay plan increases of 4.2 percent
(faculty and academic staff) to be phased in over the year and 2.0 percent
(nonrepresented
classified staff).
- Resident undergraduate and graduate tuition increased by 8 percent.
Nonresident undergraduate tuition increased by 13 percent.
Nancy L. Zimpher,
Chancellor
Michael J. Rupp,
Associate Vice Chancellor
Business and Finance
UWM Statement of Current Funds Revenues,
Expenditures & Other Changes
Year Ended June 30, 2002
Revenues
| |
Dollars (Thousands) |
Percent |
| State Appropriations |
124,849 |
37.7% |
| Operational Receipts |
159,241 |
48.1% |
| Tuition & Fees |
96,199 |
29.0% |
| Auxiliary Enterprises |
28,623 |
8.6% |
| Educational Activities |
19,982 |
6.0% |
| Other Sources |
14,437 |
4.4% |
| Extramural Support |
47,260 |
14.3% |
| Federal Grants & Contracts |
37,873 |
11.4% |
| Private Gifts, Grants & Contracts |
8,554 |
2.6% |
| State Grants & Contracts |
653 |
0.2% |
| Local Grants & Contracts |
155 |
0.0% |
| Endowment Income |
25 |
0.0% |
| TOTAL |
331,350 |
100.0% |
Expenditures & Transfers
|
Private Gifts, Grants & Contracts
|
Dollars (Thousands) |
Percent |
| Education & General |
305,682 |
90.5% |
| Instruction |
127,285 |
37.7% |
| Research |
28,021 |
8.3% |
| Public Service |
16,483 |
4.9% |
| Academic Support |
38,307 |
11.3% |
| Student Services |
38,888 |
11.5% |
| Institutional Support |
15,882 |
4.7% |
| Physical Plant |
18,703 |
5.5% |
| Financial Aid |
22,113 |
6.5% |
Auxiliary Enterprises
|
26,270 |
7.8% |
|
Mandatory Transfers
|
5,687 |
1.7% |
|
Total
|
337,639 |
100.0% |
Beginning Fund Balance
|
40,857 |
|
Net increase (decrease) in Fund Balance
|
(6,289) |
|
Ending Fund Balance
|
34,568 |
|
