EXPENDITURE REPORT – MAIN CAMPUS
Third quarter 2007
Covering July 1, 2006 to March 31, 2007
The report for Wayne College is lower on this page.
Explanation of table
Introduction: The expenses in each of the functional categories are compared to the budget (net of carryovers) in an effort to reflect the year-to-date spending against the approved budget. Through nine months, functional expenditures are less than budget by $7.2 million; however, there are a few areas to be reviewed further.
Instruction – All expenses in this category reflect the direct cost of providing instruction to the students. Faculty salary variances led to lower instructional costs than anticipated. In March, the enrollment-related supplemental pay was distributed to bargaining-unit faculty members.
Research – The year-to-date March activity in research reflects an unfavorable spending variance of $200,000, or 6.2 percent off of the budget. This is primarily related to the timing of the activity in the research cost-sharing accounts and early activity in the various indirect cost accounts. This also reflects that a large portion of the budgets are carryover funds from previous years and/or monthly installments of indirect cost distributions.
Public Service – The bulk of the activity in this area is related to Departmental Sales and Workforce Development accounts. These accounts experience timing variances, and it is not uncommon to see expense overages and revenue shortfalls early in the year. By year-end, the revenues will catch up and most sales accounts will generate a small balance to carry forward into the next fiscal year.
Academic Support – Spending in the Academic Support areas was less than the March budget by $900,000, or 3.9 percent in total. The libraries' expenses were less than budget by $200,000, while the other areas within the function were $700,000 less than budget.
Student Services – Spending was less than budget by $400,000, or 5.7 percent.
Institutional Support - Expenses of $40.4 million were higher than budget by $7.6 million or 18.6 percent. This is largely because the Institutional Support budget includes the projected savings from vacant positions. As the year progresses, the earned savings in other functions will offset this amount.
Plant Operation & Maintenance – Activity in this function was higher than budgeted through the ninth month by $600,000, or 3.8 percent. As the University community participates in the energy savings plan, we should realize budgeted savings over the remaining months.
Scholarships – The favorable variance in scholarships reflects the set-aside for need-based scholarships, which will be meted out over time in conjunction with the growth plan.
EXPENDITURE REPORT – WAYNE COLLEGE
Third quarter 2007
Covering July 1, 2006 to March 31, 2007
Explanation of table
Introduction: The expenses in each of the functional categories are compared to the budget (net of carryovers) in an effort to reflect the year-to-date spending against the approved budget. In total, functional expenditures are less than budget by $600,000. Finance and Administration will continue to monitor the areas with unfavorable variances.
Instruction – All expenses in this category reflect the direct cost of providing instruction to students. Lower-than-anticipated summer enrollment was responsible for lower summer faculty expenses.
Research – The year-to-date expenses are equal to the annual budget allocated for internally funded research and relate to a faculty development program titled, "Generation NeXt Comes to College."
Public Service – The activity in this area is related to Workforce Development/Continuing Education programs. The minimal overspending in these programs is more than offset by the related surplus revenues.
Academic Support – Spending in the Academic Support areas was below the March budget by 0.5 percent. This surplus resulted from the net of minimal overspending in the library service areas and minimal surpluses in the other academic support areas.
Student Services – Expenses in the Student Services function exceeded budget primarily in the area of extracurricular activity funding.
Institutional Support – Activity in this function was well within budget at the end of March.
Plant Operation & Maintenance – Expenditures in this function exceeded the budget primarily in the areas of building & equipment repair and campus grounds. This is, in part, due to outstanding blanket purchase orders encumbered in these areas.
