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March 19, 2020 at 1:30 PM - Business and Finance Committee

Agenda
Call to Order
Roll Call/Declaration of Quorum
Action Items
A. Consideration of Non-Mandatory Fees for the 2020-2021 Academic Year
Background Information:  Under Board Policy 1:021 (Fees, Charges, Refunds, and Fee Adjustments), the Board of Trustees must approve all University fees. The proposed 2020-2021 fee changes are for select non-mandatory fees.
 
Description: 
Proposed Implementation Date: Fall 2020

See attachment for a list of proposed non-mandatory fees for 2020-2021 academic year.
 
B. Consideration of Housing Rates for the 2020-2021 Academic Year
Background Information:  Policy 1:021 "Fees, Charges, Refund and Fee Adjustments" requires that "all regular and special rental rates for student residence halls and student apartments will be approved by the Board of Trustees upon the recommendation of the University." Proposed changes in student housing rates for 2020-2021 are presented to the Business and Finance Committee for review.
 
Description: 
Proposed Implementation Date: Fall 2020
 
      2019-2020         2020-2021     
Residence Halls    
Sevier, Blount, Harvill (Double) $3,040 $3,100
Castle, GNT, GTS, Erikson (Double)    $3,600 $3,670
Sevier, Blount, Harvill (Single) $3,800 $3,875
Castle, GNT, GTS, Erikson (Single) $4,500 $4,585
     
Apartment Style    
Meacham, Two Rivers    
        Double $3,040 $3,100
        Single $3,800 $3,875
Hand Village $3,700 $3,775
Emerald Hill--1br $670 $690
Emerald Hill--1.5br $740 $760
Emerald Hill--2br $820 $840
Emerald Hill--3br $870 $890

Residence Hall and Apartment Style rates are represented on a "per semester" basis. The changes represent an overall 2.07% increase for 2020-2021, resulting in a projected $93,190 revenue increase. Housing rates remain competitive with rental rates surrounding campus.
Information Items
A. Review Governor's Budget Recommendations
Background Information:  Recently, Governor Lee presented his fiscal year 2020 - 2021 budget recommendations to the General Assembly. Information pertinent to APSU will be shared with the Business and Finance Committee.
 
Description: 
Proposed Implementation Date: Fiscal Year 2020-2021

The following information will be shared with the Committee:
  • 2020-2021 State Appropriation Recommendations
  • 2020-2021 Capital Projects Recommendations
B. Review Fiscal Year 2018-2019 Financial Report
Background Information:  The University’s audited financial report includes the Statement of Net Position (the Balance Sheet), the Statement of Revenues, Expenses, Changes in Net Position (the Income Statement), and the Statement of Cash Flows.  Management Discussion and Analysis as well as Notes to the financial statements are also presented to provide additional information that are essential to a full understanding of the financial statements.
Attachments:
Description: 
The University’s audited financial report and Composite Financial Index (CFI) will be discussed.
Adjourn
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