June 8 2004
University of the Pacific
Minutes, June 8, 2004
Taylor Conference Room
Call to Order: 2:04
Present: Brodnick, Chi, Gilbertson, Fries, Hoverstad, Jacobson, Meer, Miller, Richmond, Sina, Sexton
Not Present: Cavanaugh, Ensign, King, Perro
Guests: Carrie Darnall
Minutes: Minutes of the May 20 meeting were reviewed, corrected and approved.
Current Agenda Items:
Budget Assumptions and Planning Guidelines draft
Gilbertson informed the committee on details of the Regent's task force reviewing enrollment. He mentioned that Pacific is trying to get in line with the national endowment spending rate norm which is 4.5% for universities. He also informed the Committee that the Cabinet will meet tomorrow (June 9) to discuss Cavanaugh's Monterey Institute Report; financial planning, facilities, and financial aid.
Meer indicated that with one month to go, he was sure that alumni participation would reach it's alumni participation goal. He also stated that regarding department operating budgets, there is an awareness that from time to time there will be some increases.
Cost Allocation Model Update
Brodnick and Darnall presented an updated Cost Allocation Model (CAM). A handout of the CAM broken down by category was distributed and reviewed by Brodnick. The categories were:
- Current Fund Net Revenue
Darnall pointed out five basic changes to the CAM:
- Summer tuition is now distributed based on actual summer FTE.
- MAIR Graduate Program (SIS) is now fully included.
- Pre-Pharmacy tuition and blended costs are included in COP.
- FY02 error in COP direct expenses has been corrected.
- FY98 unrestricted reserve is now shown as net revenue.
Gilbertson mentioned that every unit is paying for itself. The Law School is at a fixed percentage (10%) as is the Dental School (5%). Financial aid sizably reduced income revenue in all schools except Pharmacy. He said that the goal of the CAM is to moderate any extremes within the schools.
Gilbertson stated that we need to focus on student/faculty ratio. In 1998 Pacific had too few students for the number of faculty. We have made some headway. He also thought it would be helpful to have a graph showing the contribution of majors by dollars.
Next meeting: July 6, 2004
Meeting adjourned at 3:59