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BOARD OF TRUSTEES UNIVERSITY OF THE VIRGIN ISLANDS OPERATING BUDGET RESOLUTION FISCAL YEAR 2017-2018 Resolution approving the Fiscal Year 2017-2018 Operating Budget for the University of the Virgin Islands WHEREAS, on March 3, 2017 the University submitted its Fiscal Year 2017-2018 appropriation request of $34,371,750 to the Honorable Kenneth E. Mapp, Governor of the US Virgin Islands; and WHEREAS, on October 12, 2017 the University received correspondence dated September 29, 2017 from the Office of Management and Budget (OMB) advising that based on the Revised Organic Act of 1954, the FY2017 appropriations will be “rolled over” in FY2018 and OMB will impose FY2018 allotment ceilings, via the allotment process, as indicated by new fiscal realities of projected insufficient revenues; and WHEREAS, the correspondence also advised that allotment ceilings will be set initially at 87.5% of the “rolled over” FY2018 appropriation (a 12.5% reduction), said reduction which is $4,030,844 for the University; and WHEREAS, the distribution of the reduction across programs already in place would negatively impact their operations; and WHEREAS, the Administration proposes that the allotment reduction be absorbed across the programs funded by the annual appropriation as reflected in Exhibit A of this resolution. NOW THEREFORE BE IT RESOLVED AS FOLLOWS: A. That, for the purpose of carrying out the operations of the University for the fiscal year, which began October 1, 2017 and ends September 30, 2018, the operating budget proposed by the Administration, a copy of which is incorporated into this resolution as Exhibit “B”, is hereby approved. The total projected operating revenues and expenditures in the Fiscal Year 2017- 2018 Operating Budget are as follows: i) Total revenues of $44,791,827; and ii) Total expenditures and transfers of $44,790,796; and iii) Net operating surplus of $1,031. B. That the President and Vice-President for Administration and Finance are authorized to take such actions as are necessary and proper to implement this resolution. CERTIFICATION The Undersigned does hereby certify that the foregoing is a true and exact copy of a resolution of the Board of Trustees of the University of the Virgin Islands adopted at a special meeting of the Executive Committee on October 13, 2017, as recorded in the minutes of said meeting. FY2018 Operating Budget Resolution P a g e | 2 OCTOBER 13, 2017 _____________________________________ _____________________________ Secretary of the Board Date EXHIBIT A UNIVERSITY OF THE VIRGIN ISLANDS Government of the Virgin Islands Appropriations Breakdown Fiscal Year 2017-2018 Appropriation Requirements FY2017 Appropriation Allotment Reduction Adjusted Line Item (Proposed) FY2018 General Operating Requirements* $23,902,208 ($3,530,844) $21,788,364 Debt Service $3,992,205 $0 $3,992,205 SBDC Local Matching Requirements $300,000 ($51,000) $249,000 Senior Citizens Tuition Requirements $87,773 ($14,921) $72,852 Valedictorian & Salutatorian Scholarships $400,966 $0 $400,966 Community Engagement and Lifelong Learning $100,000 ($17,000) $83,000 Green Technology $200,000 ($34,000) $166,000 Hotel Management Program $100,000 ($17,000) $83,000 John Brewers Beach Bathroom Maintenance $15,000 ($2,550) $12,450 University Bound Program $355,901 ($60,770) $295,131 Senior Reserve Officers' Training Corps (SROTC) $100,000 ($100,000) $0 VI Academic & Cultural Awards $430,470 ($73,180) $357,290 Senior Citizens Tuition Additional Support $162,227 ($27,579) $134,648 Social Work Program Accreditation $100,000 ($17,000) $83,000 John Brewers Beach Maintenance and Security $100,000 ($17,000) $83,000 Ambassador Terence A. Todman Distinguished Professorship in International Relations and Diplomacy $0 $0 $83,000 Bachelor of Science in Nursing Degree Program - St. Croix Campus $400,000 ($68,000) $332,000 Employee Salary Increase* $1,500,000 $0 $0 Total Operating Requirements $32,246,750 ($4,030,844) $28,215,906 *FY2017 Actual Employee Salary Increase amount of $1,200,000 added to FY2018 General Operating Requirements line item in FY2018. FY2018 Operating Budget Resolution P a g e | 3 EXHIBIT B UNIVERSITY OF THE VIRGIN ISLANDS FISCAL YEAR 2018 PROPOSED OPERATING BUDGET REVENUES BOT APPROVED FY2017 Operating Budget FY2018 Total Adjustments FY2018 Proposed Budget Tuition & Fees $13,959,409 $310,060 $14,329,469 Appropriations $25,102,208 -$3,530,844 $21,571,364 Government Grants & Contracts $1,170,000 $245,000 $1,355,000 Private Grants & Contracts $1,290,447 $500,000 $1,790,447 Investments $0 $0 $0 Sales & Services Education $4,000 $0 $4,000 Sales & Services Auxiliary $6,541,333 -$1,104,038 $5,437,295 Other Revenues $304,252 $0 $304,252 Total Revenues $48,371,649 -$3,579,822 $44,791,827 EXPENDITURES BOT APPROVED FY2017 Operating Budget FY2018 Total Adjustments FY2018 Proposed Budget Instruction $12,582,880 $16,018 $13,283,771 Research $741,563 $0 $882,156 Public Service $827,808 $0 $893,088 Academic Support $3,296,936 $0 $3,615,897 Student Services $3,559,344 $0 $3,760,047 Institutional Support $11,032,357 $61,408 $11,871,542 Operations/Maintenance of Plant $7,241,323 $0 $7,901,683 Student Aid $278,650 $0 $528,650 Auxiliary Enterprises $6,461,433 -$1,165,446 $5,366,281 Transfers $1,149,355 $0 $1,164,953 Health Insurance Premium $130,000 $130,000 Salary Increases $1,200,000 FY18 Undistributed Budget Reductions -$4,607,272 -$4,607,272 Total Expenditures & Transfers $48,371,649 -$5,565,292 $44,790,796 Net Operating Position $0 $1,985,470 $1,031