R00B24 - Towson University by winstongamso

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									                                                            RB.24
                                             Towson University


Operating Budget Data
                                                   ($ in Thousands)

                                          FY 00                 FY 01          FY 02                       % Change
                                          Actual            Working          Allowance        Change       Prior Year

    General Funds                            $58,798               $64,181         $70,551        $6,370            9.9%
    Other Unrestricted Funds                 121,877               132,191         138,832         6,641            5.0%
    Total Unrestricted Funds                 180,675               196,372         209,383        13,011            6.6%
    Restricted Funds                          17,468                18,700          18,500         (200)          (1.1%)
    Total Funds                             $198,143              $215,072        $227,883       $12,811           6.0%

!        The fiscal 2002 allowance puts the university at 95% of its fiscal 2002 funding guideline.

!        Personnel expenses constitute approximately 73% of the overall fiscal 2002 increase.




Personnel Data
                                                   FY 00                 FY 01             FY 02
                                                   Actual               Working          Allowance          Change

    Regular Positions                                1,486.00             1,546.00           1,610.50           64.50
    Contractual FTEs                                   811.00               856.00             852.00           (4.00)
    Total Personnel                                  2,297.00             2,402.00           2,462.50           60.50

    Vacancy Data: Permanent

    Budgeted Turnover: FY 02                              74.89              4.65%
    Positions Vacant as of 12/31/00                       45.00               2.9%


!        The fiscal 2002 allowance includes 37 contractual conversions.




    Note: Numbers may not sum to total due to rounding.
    For further information contact: Brent E. Johnson                                          Phone: (410) 946-5530
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                                      RB.24 - Towson University

Analysis in Brief
Issues

Towson University’s Teacher Shortage Strategy: Towson University has developed a "Quick Response
Unit" approach to confronting the anticipated teacher shortage.


Recommended Actions

 1.    Concur with Governor’s allowance.


Updates

Presidential Search Committee to Report to the Board of Regents: The committee charged with
searching for the next president of Towson University plans to submit four finalists to the University
System of Maryland (USM) Board of Regents who will make the final decision.




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                                                 RB.24
                                       Towson University

Operating Budget Analysis
Program Description
    Towson University is the largest comprehensive university within the University System of Maryland
(USM) and in the Baltimore metropolitan region with 16,600 students. The university serves traditional
age, commuting, and residential students from Maryland, as well as students from adjoining mid-Atlantic
and northeastern states. Programs and services are oriented toward students who rank in the top one-third
of high school graduates, as well as adult learners. Towson University is also a significant institution for
graduate education, with head-count enrollment exceeding 2,500 graduate students.

    Towson University offers a comprehensive range of baccalaureate programs in the liberal and fine arts,
sciences, and professional programs in business, education, computer and information sciences, and the
health professions. The university is committed to strengthening its core liberal and fine arts and sciences
disciplines, and to building a nationally prominent general education program for all undergraduate
students.

   The university places an emphasis on and will continue to develop programs in areas responsive to the
metropolitan community, building on existing strengths of the faculty in interdisciplinary fields combining
both liberal arts and sciences and a professional orientation, such as environmental science and studies,
metropolitan studies, gerontology, criminal justice, and technology and society. The university will also
continue to emphasize international, multi-cultural, ethnic, and women's studies curricula.

    Post-baccalaureate certificates and masters' programs, developed in response to community needs,
focus on education, fine arts, the health professions, computer sciences and information systems, software
design, and applied professional fields. Areas of emphasis include education, theater, human resource
development, psychology, computer and information sciences, speech-language pathology, audiology,
occupational therapy, and health administration.

    The university also offers programs at the Higher Education and Applied Technology (HEAT) Center
in Harford County and the Southern Maryland Higher Education Center. There are plans to add programs
at the Hagerstown Center and plans to initiate a collaborative occupational therapy program with
Frostburg State University.

   The university continues to lead the State in the preparation and professional development of teachers.
Towson University projects a need to increase capacity to meet current and future need for teacher
development.


Governor’s Proposed Budget

   The fiscal 2002 allowance for Towson University is $227.9 million, a $12.8 million, or 6% increase
over the fiscal 2001 appropriation. The fiscal 2002 general fund allowance is $70.6 million, a $6.4 million
                                                     3
                                                    RB.24 - Towson University

or 9.9% increase over fiscal 2001. The increase in the general fund appropriation accounts for almost
50% of the total increase in the university's fiscal 2002 budget. General funds constitute 31% of all
university revenue (unrestricted and restricted). Other unrestricted revenue (excluding general funds)
increases $6 million, a 5% increase over fiscal 2001. Restricted funds decrease by $200,000 in the fiscal
2002 allowance.

    Pursuant to statutory directive (§11-105(g)(4) of the Education Article), the Maryland Higher
Education Commission (MHEC) has promulgated updated funding guidelines for Maryland colleges and
universities. The development and calculation of these guidelines are described in MHEC's August 1999
Higher Education Operating Funding Guidelines, Interim Report, and in a supplementary letter from Dr.
Patricia Florestano, September 27, 1999. Essentially, the guidelines intend to bring funding of Maryland
higher education to levels equivalent to funding received by comparable institutions nationwide. The fiscal
2002 MHEC funding guideline for Towson University is $74.2 million. Thus, the fiscal 2002 general fund
appropriation is 95% of the recommended funding guideline. Exhibit 1 illustrates the major changes in
the fiscal 2001 allowance. Exhibit 2 shows the allocation of the increase in expenditures in fiscal 2002.

                                                               Exhibit 1


                                                Governor's Proposed Budget
                                                      Towson University
                                                          ($ in Thousands)
                                                                            Other            Total
 How Much It Grows:                                 General                Unrestr.         Unrestr.           Restricted
                                                     Fund                   Fund             Fund                Fund              Total
 2001 Working Appropriation                         $64,181                $132,191        $196,372                $18,700       $215,072

 2002 Governor's Allowance                            70,551                138,832          209,383                18,500        227,883
     Amount Change                                    $6,370                 $6,641          $13,011                 ($200)       $12,811

     Percent Change                                     9.9%                  5.0%               6.6%               (1.1%)          6.0%

 Where It Goes:

     Personnel Expenses
          64.5 new positions (includes 37 contractual conversions) . . . . . . . . . . . . . . . . . . . . .                         $1,773
          Increments, fiscal 2001 increase phase-in and other . . . . . . . . . . . . . . . . . . . . . . . . .                       3,172

          Fiscal 2002 general salary increase . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .               1,470

          Turnover adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .        1,574
          Employee and retiree health insurance rate change . . . . . . . . . . . . . . . . . . . . . . . . . .                       1,441

          Retirement contribution rate change . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .               (512)


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                                                        RB.24 - Towson University

           Workers' compensation premium assessment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                             (74)

           Other fringe benefit adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 452

      Other Programs
           Information technology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .              1,561

           Start-up of Occupational Therapy Program with Frostburg State University . . . . . . .                                           110
           Athletic scholarships to address gender equity issues . . . . . . . . . . . . . . . . . . . . . . . .                            149

           Start-up funds for new student facility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                    258

           Additional systemwide debt service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                     271
           15% enrollment growth of residential students . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                          283
           Expanded outreach activities at regional education centers/outreach publications and
           advertising . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      304
           Auxiliary enterprises (campus bookstore/food services, car garage support) . . . . . . .                                         779
           Decline in projected federal work-study student employment level . . . . . . . . . . . . . . .                                  (200)

           Total                                                                                                                         $12,811
 Note: Numbers may not sum to total due to rounding.


                                                                   Exhibit 2

                                                    Towson University
                                       Allocation of Fiscal 2002 Allowance Increase




Note: Numbers may not sum to total due to rounding.
Source: Towson University


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                                        RB.24 - Towson University

   Personnel

    Almost 73% of the increase in the fiscal 2002 allowance is due to the $9.3 million increase in personnel
expenditures. Several of the new positions are a continuation of the effort to accommodate increased
enrollment. The fiscal 2002 allowance includes 64.5 new positions. The university plans to convert
approximately 37 contractual employees into regular positions and add additional contractual positions
to accommodate enrollment growth.

    Under the instruction program, the university plans to hire three additional full-time faculty members
to support the growth of 53 estimated FTE students in fiscal 2002. The university also intends to convert
twelve contingent faculty members to full-time status in an effort to reduce the dependency on part-time
faculty. As a result of an estimated 15% residential population increase, the university will hire two full-
time psychologists, and another part-time psychologist and a part-time physician. The estimated growth
in residency is attributed to the new, privatized housing project and additional students living in close
proximity to campus. The university also intends to convert 12 contractual employees to support the
expanded number of residential students. Under academic support, the university plans to add 10.5
positions including five administrative specialists, and three information technology programmers. Other
personnel increases are found in auxiliary services and plant operation programs.


   Information Technology Initiatives

    The university is also using almost $1.6 million of the increase for several initiatives including the
creation of a new computer lab that will be available to students 24 hours a day, seven days a week. The
university states that a new lab needs to be created that provides proper access to computers and the
Internet for students. The University System of Maryland Board of Regents has established minimum
information technology standards. One of these standards is to insure that students have 24/7 access to
computers and the Internet.

    The university also intends to improve student technology fluency and technology skill development.
This initiative includes upgrading network infrastructure to provide wireless capabilities which would
improve student access to the university's network and the Internet, and implementing new on-line systems
to improve university operations and service delivery to students. The university also intends to hire two
additional positions for the Student Computing Services under this initiative. The University System of
Maryland Board of Regents has asked each institution to assure that all graduates have technological
fluency competencies appropriate for the interests and goals of their degree program. The staff of the
Student Computing Services Center will provide student technology assessment, offer technology
orientation, develop technology training resources, and conduct technology training workshops.


   Tuition and Fees

     Tuition and fees constitute an estimated $77.5 million, representing 34% of total university revenue
in fiscal 2002. Exhibit 3 shows the in-state undergraduate tuition and fee increase at Towson University
for fiscal 2002 and tuition revenues compared to other projected fiscal 2002 revenues. In-state tuition and

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                                            RB.24 - Towson University

fees increases by 5.6 % in fiscal 2002. In-state tuition increases by 4% and student auxiliary fees increase
by 10%.
                                                  Exhibit 3


                                       Towson University
                          Tuition and Fees for Resident Undergraduates

                                                    Fiscal        Fiscal
               Tuition and Fees                     2001          2002          $ Change       % Change

 In-State Undergraduate Tuition                      $3,466        $3,605            $139            4.0%

 Auxiliary fees
         Athletics                                      515           546              31            6.0%
         Transportation                                     18             18              0         0.0%
         Aux. Construction                              491           535              44            9.0%

         Student Union                                  156           170              14            9.0%
         SGA                                                60             60              0         0.0%
         Day-care                                           14             15              1         7.1%

         Recreational Facilities/Activity                   n/a            35          n/a             n/a

 Total Auxiliary Fees                                 1,254        $1,379            $125           10.0%
 Total In-State Tuition and Fees                      4,720        $4,984            $264            5.6%

Source: University System of Maryland



Performance Analysis: Managing for Results

    The university's complete MFR submission appears in the Governor's budget book. The MFR
submission should connect the university's mission, vision, goals, and its operating budget through
articulated objectives, strategies, and performance indicators. The university has selected numerous
performance indicators that relate to their MFR goals and objectives. Some of the indicators are shown
in Exhibit 4. Each of these indicators falls under one of the following five university goals: 1) increase
retention and graduate rates; 2) contribute to the development of Maryland's workforce and economy; 3)
increase the diversity of the university community; 4) increase public and educational services in under-
served areas of the State; and 5) increase revenue from alternative sources.




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                                                     RB.24 - Towson University

                                                               Exhibit 4


                                                   Program Measurement Data
                                                       Towson University
                                                     Fiscal Years 1998 - 2002
                                                                                                             Annual    Annual
                                                      Actual       Actual       Actual     Est.     Est.     Change    Change
                                                       1998         1999         2000      2001     2002      98-00     00-02
 Enrollment
 Full-time Equivalent Students (FTES)                    11,898      12,309       12,826   13,041   13,095      4.1%      0.8%

 % Residents                                                 79           82          82      81       81       1.9%     -0.6%

 % Minority                                                  16           16          16      16       16       0.0%      0.0%

 Retention
 6-year graduation rate-all                                61%          63%         62%      62%      63%      -0.8%      0.8%

 6-year graduation rate-African-American                   53%          50%         49%      50%      51%      -1.0%      2.0%

 Faculty
 FTE student/faculty ratio                                 16.7         17.1        17.4     17.9     17.9      4.3%      1.4%

 Outputs
 Degrees awarded in Nursing                                  82            95         65      50       55     -11.0%     -8.0%

 Degrees awarded in the IT fields                           106           115        138     145      155      14.1%      6.0%

 Degrees awarded in the education fields                    548           582        537     622      750      -1.0%     18.2%

 Outcomes
 Graduate satisfaction
   Work-related preparation                                             94%         96%     >90%     >90%        n/a       n/a
   Graduate school preparation                              n/a         96%         99%     >90%     >90%        n/a       n/a

 Exam pass rates

       Nursing                                             85%          86%         88%      87%      88%       1.7%      0.0%

       A1 of CPA Level II                                  68%          68%         70%     >65%     >65%       1.5%       n/a

       Occupational Therapy                                98%          98%         95%     >90%     >90%      -1.5%       n/a

 % graduates earning >$30K/year                             n/a         50%         50%      52%      52%        n/a       n/a

 % minority graduates employed in Maryland one
 year after graduation                                      n/a         78%         72%     >75%     >75%        n/a       n/a

 Financial Stability
 Scholarship funds provided by Towson University
 Foundation ($000s)                                       $217         $280         $343    $375     $400      25.7%      8.0%

 Sources: Towson University Managing for Results submission, 2002 Governor's Budget Book




    The university shows only a small increase in FTE students for fiscal 2002 over the fiscal 2001
estimate. This enrollment slowdown is in contrast to the number reported in fiscal 1999 which included
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                                        RB.24 - Towson University

an increase of 411 FTE students and fiscal 2000 which included an increase of 517. The slowdown in
growth is related to the university's continuing efforts to keep up with undergraduate enrollment growth
that have been hampered by limitations on campus.

     Under the retention indicators, the university dropped slightly in fiscal 2000 from fiscal 1999 for the
overall six-year retention rate. The rate remains steady in fiscal 2001 with an estimated 1.6% increase in
fiscal 2002. The six-year retention rate for African-American students dipped slightly in fiscal 2000 and
increased by 2% in fiscal 2001. The university expects another slight increase for fiscal 2002 for this
indicator. Other notable indicators include number of degrees awarded in: nursing which has declined
in fiscal 2000; information technology (IT) which has steadily increased from 106 to 145 between fiscal
1998 and 2001; and education which decreased in fiscal 2000 but increases in the fiscal 2001.




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                                         RB.24 - Towson University

Issues
1. Towson University’s Teacher Shortage Strategy

    The projected teacher shortage in the State of Maryland continues to be a great concern to many
stakeholders within K-12, higher education, and the General Assembly. The main concerns involve what
the State is doing to prepare for this anticipated crisis and how such efforts will be measured to ensure that
the goal of increasing the number of certified teachers in shortage areas around the State is attained. As
one of the designated teaching institutions, Towson University has developed several program initiatives
over the past several years to address teacher shortages. The university, in its position paper, The Teacher
and Principal Shortages in Maryland, contends that traditional teacher education programs by themselves
are not equipped to be responsive to immediate need triggered by a teacher shortage due to traditional
staffing and funding structures.

    The university states that its Quick Response Unit (QRU) is equipped to respond to a shortage crisis
which could last three to five years. The QRU is integrated within existing departments on campus and
has a revenue-generating component within an outreach initiative called the Towson Learning Network
(TLN). TLN provides monetary incentives for campus departments to respond quickly to a shortage.
TLN generates revenues by offering degrees and courses off-campus. Part of the revenue is distributed
to campus departments and is used to hire exceptionally qualified teachers and administrators who have
recently retired from the Maryland’s school districts. The university operates QRU on three levels: 1)
Immediate Programming/Immediate Impact--focusing on training provisional certified teachers; 2) 1-2
Year Programming--focusing on career changers and communitycolleges; and 3) 2-4 Year Programming--
focusing on a four-year teacher education model. All three components involve collaborations with local
governments, community colleges, and regional higher education centers. The university has also
developed an initiative related to an anticipated shortage of principals.

    The president should discuss with the committees how the university’s initiatives will be
effective in confronting the anticipated teacher shortage. The president should provide information
on the number of Maryland teachers produced by the university and whether its teacher shortage
initiatives have had an impact on that number.




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                                 RB.24 - Towson University

Recommended Actions

1.   Concur with Governor’s allowance.




                                            11
                                       RB.24 - Towson University

Updates
1.     Presidential Search Committee to Report to the Board of Regents

         The Towson University Presidential Search Committee plans to submit its recommendations for
the selection of the university's next president to the University System of Maryland (USM) Board of
Regents. This latest action is a result of the current president, Hoke L. Smith, announcing his intention
to retire in June after serving as president for 22 years. The 18-member search committee was charged
with identifying and screening prospective candidates to replace President Smith. The committee began
meeting in June 2000 to formulate how it would approach the search. The committee agreed that the
search would be a nationwide effort, and would include both traditional and non-traditional candidates.

       The search was advertised on the university's website and in the following publications: the
Chronicle of Higher Education, Black Issues in Higher Education, The Hispanic Outlook in Higher
Education, the Washington Post, the Baltimore Sun, and the New York Times. Twelve candidates were
narrowed down from an initial 110 candidates. The 12 candidates included eight women and two African-
Americans. After additional screening, four candidates remain as nominees. Three of the four are sitting
presidents or chancellors. The identities of the final nominees remain confidential. At the next Board of
Regents meeting in February, the search committee will formally submit its four finalists to the Regents
who will then interview them and make a selection.




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                                         RB.24 - Towson University

                                                                                        Appendix 1


Current and Prior Year Budgets
                                     Current and Prior Year Budgets
                                          Towson University
                                             ($ in Thousands)

                                        Other            Total
                       General        Unrestricted    Unrestricted    Restricted
                        Fund             Fund            Fund           Fund           Total

     Fiscal 2000

Legislative
Appropriation             $58,607        $117,516          $176,123       $15,000        $191,123
Deficiency
Appropriation                    0                0              0                 0               0
Budget
Amendments                     190          12,437           12,627         5,100              17,727
Reversions and
Cancellations                (200)          (7,876)         (8,076)        (2,632)        (10,708)

Actual
Expenditures              $58,597        $122,077          $180,674       $17,468        $198,142


     Fiscal 2001


Legislative
Appropriation             $64,181        $129,191          $193,372       $16,700        $210,072

Budget
Amendments                       0           3,000            3,000         2,000               5,000

Working
Appropriation             $64,181        $132,191          $196,372       $18,700        $215,072

Note: Numbers may not sum to total due to rounding.




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                                         RB.24 - Towson University

Explanation of 2000 Budget Amendments

        Budget amendments added approximately $12.6 million in unrestricted funds and $5.1 million in
restricted funds in fiscal 2000. Significant increases within unrestricted funds include an increase of $3
million in auxiliary services revenue; $2.8 million in bookstore and room and board revenue; and $2.7
million in lab fees. Most of the restricted fund increase is attributable to $3 million from increased revenue
from several university affiliated economic and business centers.


Explanation of 2000 Cancellations

        Unrestricted: The university discontinued the practice of encumbering funds for equipment and
eligible contractual services in fiscal 2000. The university states that since it can carry its balances
forward, encumbering funds was unnecessary. In addition, the summer semester enrollment and sales and
services of educational activity did not grow to the extent projected. The remaining excess appropriations
are attributed to conservative estimates to avoid a deficiency appropriation request during the fiscal year
close-out time frame.

       Restricted: Service contracts with the Department of Human Resources and the Motor Vehicle
Administration activity rolled over to fiscal 2001. The remaining excess appropriations attributed to
conservative estimates to avoid a deficiency appropriation request during the fiscal year close-out time
frame.


Explanations of 2001 Budget Amendments

       The $3 million increase in unrestricted funds is attributable to an increase in fiscal 2000 carryover
funds from tuition and fees. The $2 million in restricted funds is attributable to an increase in State, local,
federal, and private grants and contracts.




                                                      14
                                                                    Object/Fund Difference Report
                                                                         Towson University
                                                                                        FY01
                                                                     FY00              Working                    FY02           FY01 - FY02      Percent
                          Object/Fund                                Actual          Appropriation              Allowance       Amount Change     Change
     Positions
     01   Permanent                                                      1486.00               1546.00               1610.50             64.50          4.2%
     02   Contractual                                                     811.00                856.00                852.00             (4.00)       (0.5%)
     Total Positions                                                     2297.00               2402.00               2462.50             60.50         2.5%
     Objects
     01   Salaries and Wages                                        $ 81,450,670          $ 88,436,935           $ 97,732,553       $ 9,295,618       10.5%
     02   Technical & Spec Fees                                       27,305,153            28,607,553             28,221,352         (386,201)      (1.3%)




                                                                                                                                                                            RB.24 - Towson University
     03   Communication                                                3,673,376             4,177,383              3,939,609         (237,774)      (5.7%)
     04   Travel                                                       2,400,201             2,256,504              2,486,969           230,465       10.2%
     06   Fuel & Utilities                                             4,467,633             4,814,353              4,482,301         (332,052)      (6.9%)
     07   Motor Vehicles                                                 434,849             1,105,557              1,109,141             3,584        0.3%
     08   Contractual Services                                        22,506,164            23,975,077             25,239,371         1,264,294        5.3%
15




     09   Supplies & Materials                                        12,304,824            13,344,466             13,532,287           187,821        1.4%
     10   Equip - Replacement                                          1,807,134             2,802,749              2,657,192         (145,557)      (5.2%)
     11   Equip - Additional                                           5,490,172             7,481,814              7,116,451         (365,363)      (4.9%)
     12   Grants,Subsidies,Contr                                      19,320,090            20,936,663             21,518,791           582,128        2.8%
     13   Fixed Charges                                               13,717,819            13,332,520             15,906,859         2,574,339       19.3%
     14   Land & Structures                                            3,264,848             3,800,000              3,940,000           140,000        3.7%
     Total Objects                                                $ 198,142,933         $ 215,071,574           $ 227,882,876      $ 12,811,302        6.0%
     Funds
     40   Unrestricted Fund                                       $ 180,674,822         $ 196,371,574           $ 209,382,876      $ 13,011,302         6.6%
     43   Restricted Fund                                            17,468,111            18,700,000              18,500,000         (200,000)       (1.1%)
     Total Funds                                                  $ 198,142,933         $ 215,071,574           $ 227,882,876      $ 12,811,302        6.0%




                                                                                                                                                               Appendix 2
     Note: Full-time and contractual positions and salaries are reflected for operating budget programs only.
                                                          Fiscal Summary
                                                         Towson University
                                                                FY01              FY01
                                               FY00           Legislative        Working         FY00 - FY01      FY02          FY01 - FY02
                         Unit/Program          Actual        Appropriation     Appropriation      % Change      Allowance        % Change
     01 Instruction                           $ 53,995,548      $ 57,866,964      $ 58,666,964           8.7%    $ 58,363,939         (0.5%)
     02 Research                                 7,428,424         7,008,582         7,508,582           1.1%       6,931,787         (7.7%)
     03 Public Service                           6,239,937         6,250,140         8,050,140          29.0%       6,573,629        (18.3%)
     04 Academic Support                        17,606,067        18,134,179        18,834,179           7.0%      22,189,317          17.8%
     05 Student Services                        10,560,553        10,441,546        10,441,546         (1.1%)      12,515,428          19.9%
     06 Institutional Support                   19,395,843        22,536,218        22,536,218         16.2%       24,356,546           8.1%
     07 Operation And Maintenance Of Plant      17,069,799        21,112,966        21,112,966          23.7%      20,955,245         (0.7%)
     08 Auxiliary Enterprises                   47,799,385        48,723,916        48,723,916           1.9%      56,759,430          16.5%
     17 Scholarships And Fellowships            18,047,377        17,997,063        19,197,063           6.4%      19,237,555           0.2%




                                                                                                                                                            RB.24 - Towson University
     Total Expenditures                      $ 198,142,933     $ 210,071,574     $ 215,071,574          8.5%    $ 227,882,876          6.0%
     Unrestricted Fund                       $ 180,674,822     $ 193,371,574     $ 196,371,574          8.7%    $ 209,382,876           6.6%
     Restricted Fund                            17,468,111        16,700,000        18,700,000          7.1%       18,500,000         (1.1%)
16




     Total Appropriations                    $ 198,142,933     $ 210,071,574     $ 215,071,574          8.5%    $ 227,882,876          6.0%




                                                                                                                                               Appendix 3

								
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