SHOWCASING
SOUTHERN
In fiscal year 2012, Southern continued to exhibit strength in its principal “lines of business” — teaching, research, and public service. The state funding continued to decline and represented just 31.3 percent of total revenue for the fiscal year. Comparatively, in fiscal years 2003 and 2007 the percentage of state support was 44.4 percent and 40.2 percent, respectively. While overall enrollment dipped in 2012, adding to the university’s financial challenges, the future looms bright with 1,360 new full-time freshmen enrolling last fall — the highest number in six years. Student tuition and fees, following the Board of Regents for Higher Education guidelines, were increased conservatively, with an effort to keep the cost of a Southern education affordable.
FINANCIAL OVERVIEW To maintain a balanced budget, the university implemented a cost containment program. The plan represents a continual effort to spend resources only on essential services, while at the same time providing a quality educational experience for Southern’s students. Due to the loss of revenue, expenditures in 2012 were decreased in all segments, excluding financial aid scholarships. Southern completed the year with a modest surplus and was able to maintain the operating fund balance guidelines established by the Board of Regents. Looking to the 2013-14 fiscal year, the university stands ready to face the continued challenge of reduced state resources and adapt to changes resulting from the reorganization of Connecticut’s higher education system. FY 2012 Operating Revenues
FY 2012 Operating Expenditures
Investment Income 0.0%
Auxilary Enterprises 13.0%
Indirect Cost Recoveries 0.1%
Scholarships & Fellowships 14.4%
Other Sources of Revenue 1.8%
LEFT: Despite the economic downturn and the resulting impact on revenues, Southern continued to move ahead.
Private & Local Grant Revenues 1.0% State Grant Revenues 2.4% Federal Grant Revenues 7.4% Auxiliary Sales & Services 11.7%
Tuition and Fees 44.3% State Appropriations 31.3%
Operations & Maintenance – Plant 7.3% Institutional Support 12.4% Student Services 9.7% Library 2.7%
Instruction 35.9%
Academic Support 3.4% Public Service 0.3% Research & Sponsored Programs 0.9%
2012 REPORT OF T H E P R ES IDENT S OUT H ER N CONNECT ICUT S TAT E UNIVER S IT Y PA G E 59