October 9, 2012
Institutional Priorities Committee
Minutes of October 9, 2012
3:00pm - 5:00pm DeRosa Center Room 211
Present: Atterbury, Brodnick, Cavanaugh, Ciccolella, Eibeck, Gale, Goff, Griego, Hensley, Kleinert, Lackey, Lyon, Luu, Meyer, Murta, Pallavicini, Perrot, Shaw, Staniec
Absent: Leland, Martin, Wright
Call to Order: 3:03pm
Minutes: Minutes for the September 25, 2012 meeting were approved.
FY 14 Preliminary Budget Assumptions
Cavanaugh and Perrot presented a high-level overview of FY 14 budget assumptions (Stockton campus only) including estimates of revenue and mandatory expenditures.
Revenue estimates considered enrollment projections and varying tuition rates. Comparisons to peer and aspirant institutions were included in the discussion. Over the past 15 years, comparable private schools have increased tuition and fees at a higher rate than Pacific. Discussion about possible tuition rate increases considered the importance of preventing a continued increase in the gap between Pacific and comparable institutions. The IPC will make a tuition rate recommendation to President Eibeck who will then share that recommendation to the Board of Regents. The Board ultimately establishes tuition.
Discussion of mandatory expenditure assumptions focused on financial aid increases, program budget adjustments and employee compensation adjustments (including salary adjustments and Stockton campus benefit increases). Some budget items have no flexibility, such as tuition remission and exchange and off-campus leases. However, policy changes on some mandatory expenses could impact future flexibility. Operational cuts were briefly discussed. The importance of budget cuts and/or allocations based on Pacific's strategic future was emphasized.