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~TIOCH UNIVERSITY
REPORTTOTHE ,
BOARD OF TRUSTEES
2002-03 Year End Financial Statements
2003-04 First Quarter Performance
October 23-25, 2003
TABLE OF CONTENTS
I
Introduction
2002-03 Year End Financial Statements
2001 -02 Year-End Budget Report
Antioch University Summaries
Antioch College
Glen Helen
Antioch New England
Antioch Seattle
Antioch Southern California
Antioch University
McGregor
Ph. D. in Leadership & Change
University Administration
Antioch Review
WYSO Radio
University-Wide Expenses
Carryforward, Liquidity and Depreciation
2003-04 First Quarter Budget Performance
2003-04 First Quarter Performance
Antioch University Summaries
Antioch College
Glen Helen
Antioch New England
Antioch Seattle
Antioch Southern California
Antioch University
McGregor
Ph.D.
in Leadership & Change
University Administration
Antioch Review
WYSO Radio
University-Wide Expenses
Receivables Aging Report
Status of Accounts Payable
Cost Centers
Line Items
REPORT TO THE BOARD OF TRUSTEES
OCTOBER 23-25,2003
I. INTRODUCTION
The first section of this report contains financial information concerning the performance of the University, its campuses
and associated units during
2002-03.
The second section contains financial information on how the University and its
components have performed in the first quarter of the 2003-04 fiscal year. The
Datatel
Management System and the
cooperation of Campus personnel are necessary to enable us to present the full first quarter of information shortly after
. the close of the period.
The information contained in this report is presented using the Financial Accounting Standards Board
(FASB)
1 17
reporting standards that became mandatory for independent colleges and universities on July I-, 1995. The objective of
this FASB reporting standard is to enhance the relevance, clarity and comparability of financial statements issued by
not-
for-profit organizations, regardless of the nature of their operation or mission. The information
on
the 2002-03 fiscal year
expands and supplements the material presented in the draft Audited Financial Statements prepared by
Ernst & Young
LLP. The material presented in this document provides a more detailed view of the revenues and expenses of the
University and is intended to promote the understanding of University operations as a whole and of each of its units. If
you are familiar with the terms and format of this Report, you may want to begin reading the 2002-03 Year-End Budget
Performance Section on page 7 and then read the summary of the 2003-04 First Quarter Performance on page 75.
II. FORMAT AND CONTENT
The 2002-03 Year-End Financial Review section and the 2003-04 First Quarter Performance section contain summary
schedules for the entire University and similar schedules for each campus, the University Administration, Glen Helen,
WYSO Radio, the Antioch Review, the
Ph.D.
in Leadership and Change, and University Wide accounts. Each campus
and operating unit has prepared narrative descriptions of the significant events that caused the unit to deviate from its
budget. The purpose of the narrative is to provide an overview of how each Campus performed during the pr’ror fiscal
year and how well it is managing during the first quarter of the current year. The narratives also provide an opportunity
for the President or unit manager to describe the problems he or she has dealt with during the
previouslyear and the
, opportunities that are being exploited during the current fiscal year.
s
, . 1-
Revisions to the 2003-04 Operating Budget may be necessary, particularly for the College and New England. All
campuses may need to adjust their planned capital expenditures. Under Board of Trustee policy, Trustee approval is
required for any non-personnel expenditure of more than $25,000. The Capital Budget that was presented to the Board
at the June meeting contains plans for capital expenditures, but during the first quarter of the fiscal year, some Campuses
have identified changed conditions as well as unanticipated needs that require changes to their capital improvement
plans. In some cases, a campus may need to acquire additional equipment, particularly technology, while in other cases
repairs or improvements to the physical plant may be needed.
I. THE FUNCTION SCHEDULE
For the University as a whole and for each of the Campuses and units, both sections of this Report contain two
schedules. The first is the Summary by Function. This schedule provides information about Revenues by Type and
Operating Expenses by Function. The purpose is to show what happened during the prior fiscal year and what is
happening during the current quarter to the various revenue and expense categories. This schedule shows how prior
year experience and the budget compare with what has actually happened during the two reporting periods.
In both the Revenues and Operating Expenses sections of this schedule is a reference to
“E&Gn.
This abbreviation
stands for Educational and General and the Total E&G lines show the Revenues and the Operating Expenses of all
functions other than those that are classified as Auxiliary Enterprises. The
E&G
subtotals are provided to simplify
a comparison of the revenues and expenses of the primary missions of the University while excluding “support functions”
that are not part of the primary missions. Auxiliary Enterprises include dining services, housing, bookstore, and similar
‘businesses”.
*
An additional Revenues item that appears below the Total E&G Revenue totals is Released from Restrictions. The
amounts on this line reflect funds that were initially received by the University or Campuses for specific purposes and held
until they could be spent to further the specific purpose. Most of this money represents gifts or bequests that have been
provided for such things as scholarships or specific program initiatives. Much of the funding of this type is expended in
I
the year it is received, but Restricted Funds are often held for several years until they can be expendedin accordance
with the conditions set out by the donor. For example, scholarship funds that provide for students with certain types of
abilities or needs will not be expended until such students can be identified. Restricted Funds do not
bdbonj&
oar1
of the
Operating Budget until released. Prior to being transferred to the Operating Budget, Restricted Funds are carried in the
accounts of the University and invested in accordance with University policy. Neither the
administrationor
the
Board
of
trustees can impose restrictions on unrestricted funds; only donors can create restricted funds.
Because restricted revenues do not become part of the unrestricted operating funds of the University until
€h
are
Released from Restrictions, the amounts shown for Gifts and Grants may vary from the figures reported by the
‘ Development Offices for the same period. The Development Offices report gifts on a cash basis, or, as they are
received: the Accounting Offices report gifts on an accrual basis, or, when they are received or first pledged, Pledges are
commitments that will be realized at a future date and are not expendable until the funds are actually received. Funds
that are given for a restricted purpose are invested until they can be expended for the purpose specified by the donor.
Several years may pass before a campus can expend a restricted gift as the donor intended, but the restricted gift is
recorded by the Development Office when it is received. The financial schedules contained in this report do not reflect
restricted revenue until it is expended, and then it is reported on the Released from Restrictionsline and not the Gifts line.
Therefore, reports from the Development Office may show higher or lower giving levels than will appear on these
schedules.
Temporarily Restricted Funds should not be confused with Endowment Funds. Endowment Funds are also separated
from
unrestricted
revenues and are also limited to specific purposes as provided by their donor. The primary difference
6 is that the principal of Endowment Funds must be retained in perpetuity and only the annual income can be expended to
satisfy the purpose of the donor. On the other hand, the principal amount of a restricted gift can be used as soon as a
valid purpose has been identified. Income from the Endowment Funds appear as a Revenue Item on the Endowment
Income line. Separate lines report Realized and Unrealized Gains or Losses on the endowment and other investments.
The schedules in this Report for Antioch University as well as the schedule for University
Administration
and the
University Wide Expenses contain an additional line, “Net Overhead for Central Operations,” This fine has been added
on these three schedules to more clearly display the cost of central operations. Ordinarily, the Overhead used to support
the University Administration and the University Wide Expenses budget would appear as a “negative expense” entry,
but
the Board of Trustees has requested that central operations be displayed more in keeping with the way the budgets of the
individual Campuses are displayed. Accordingly, this line has been added to these three schedules and appears as a
):I 3 i I
quasi-revenue entry. It shows how much is transferred from the operating units to meet the costs of cefitratoperations
, and it clearly separates the “revenue” of the central operations from their expenses and makes it easier to see the true
cost of these units. ,I ‘Ir I
The Operating Expenses section of the Function schedule provides financial information for each of the prima& activities
or programs. Each operating department of the University is classified in accordance with its primary function. For
example, the Languages Department of the College is classified as Instruction and all of its expenditures will be
, combined with those of other teaching departments and reported on the Instruction line of the Function schedules. A list
of the Cost Centers that comprise each of the Functions is presented on page 132.
In the first section of this Report, the columns of the Summary by Function schedules
present
information about the
actual activity of the two prior years, the budget for 2002-03 and the actual experience for 2002-03. The last four
columns provide comparisons of the 2002-03 actual experience with the budget for that year and a comparison
of
how
the 2002-03 actuals compare with the actuals from 2001 -02. The dollar variance is given for these comparisons and a
percentage of variance is also provided. Similar information is provided in the second section of this Report, but the data
‘ and comparisons are for the first quarter of the fiscal year. A subtotal is provided to combine Tuition & Fees with Tuition
Discounts. This subtotal, Net Tuition, shows what is available to cover expenses.
FASB 11 7 requires the presentation of information on an accrual basis, but the actual management of the University also
depends on maintaining an appropriate cash flow so that current obligations can be met. The schedules in this Report
contain a Conversion to Cash Basis section that identifies those expenses and revenue sources that must be considered
when adjusting from an accrual basis to a cash basis. These items are primarily concerned with equipment and facilities
expenditures which, although occurring in one fiscal year, are depreciated over their useful life. Accumulated
depreciation is shown as an offset to the Depreciation Expense that is included as a part of the Plant Maintenance
function. Borrowing proceeds, if any, associated with the expenditures shown are reflected on a separate line as are the t
Principle Payments necessary to retire the loans of previous years.
The Conversion to Cash Basis section also shows the use of any Prior Year Reserves. Prior Year Reserves are
maintained by the University as “funded” or “unfunded”. Prior to 2003-04, when a campus ended the year with an
operating surplus, this sum was recorded and carried forward on the books. If the University had sufficient surplus cash
at year-end, the surplus was funded and invested in an interest bearing account for the benefit of that campus. If there
was
not sufficient cash to cover the surplus, the uncovered portion became a credit to the unfunded reserve. Campuses
may
propose the use of their Funded Prior Year Reserves in the annual budget, or they may request the Chancellor’s
permission to use Funded Reserves to meet unexpected expenses during the year. After 2001 -02, carppus surpluses, to
the extent possible, are being used to fund unused depreciation. .I,!1l I 1
IV. THE CATEGORY SCHEDULE
I
,’, ll I
The second major schedule used in both sections of this Report is the Summary by Category. On this schedule, the ‘ Revenues reported on the Function Schedule are condensed to a single line. For the University as a whole, the
University Administration and the University Wide Expenses schedules, a second line is added to show the Met Overhead
for Central Operations. Although technically not a revenue item, it is treated as a quasi-revenue on this schedule so that
these three units and the Campuses can be presented in similar ways.
Operating Expenses from the Function schedule are presented by category
(e.g.,
Salaries & Wages, Benefits, Supplies).
These categories show how expenditures have been made by the kinds of goods and services purchased. The
components of each of the Expense categories is listed in detail on page 133.
‘ A section of these schedules shows the ContingencyIReserves that the Campuses are required or encouraged to
budget. The “Campus Contingency, Mandatory” amount is budgeted at 1% of net
student^deri
degrees.
> We accepted 22 M.Ed. students over budget.
> We provided classes to students sent to us via the grant with Springfield City Schools.
> Our excess revenue over expenses at the end of 2002-03 was $397,884. See below far total expenditures
enabled by total revenue over expenses.
Q
Revenue overExpenditures;How. We Spent the Money
Expenses
,Q
> A mid-year increase in the base salary for all faculty for an annual change of $5,000.
> Considerable improvements to classroom facilities located in the Kettering Building.
> Upgrades and addition of offices in the Sontag-Fels Building.
> Early payback of the outstanding Ohio Bond (transfer of debt and funds to Antioch Colle’ge to enable them to
Â
purchase technology; off the “books” now for McGregor, approximately $210,000). This is a strong example of fV6W
McGregor enableslencourages fiscal health of the College. We also gave outright $10,000 toward the College’s
implementation of the First Class e-mail software.
> Hiring of academic consultants to begin a strategic planning process.
> Establishment of capital reserve.
> Videotaping for The Discovery Channel program, Champions of Industry (airing October 21 at 7:00 am Eastern
and Pacific).
> One notable expense saving during academic year 2002-03 was in the area of Instruction. Because a number of
budgeted new faculty hires were either delayed or not filled at all during the year, the Instruction cost center was
$33,354 under budget. This is in spite of approximately $1 00,000 spent to give faculty across-the-board salary
increases beginning in mid-year.
General Observations
> Salary adjustments, facilities upgrades and good enrollment boosts morale. Success breeds success.
> Community relations and the McGregor “branding” are improving each year.
> The academic consultants provided a good beginning to reviewing all programs and structure, while offering
appropriate
outside “insight” and credibility.
> One-slop shopping in Student and Alumni Services helps improve customer service.
> The Education programs are skyrocketing in enrollment; this will likely represent a 3-5 year cycle.
> Facilities and service concerns remain central to the future of McGregor and our success.
> Support from the Chancellor, The Board of Trustees and the McGregor Advisory Board make all the difference.
t > We began movement to a bridge between full time faculty and adjuncts – developing a cadre of “associate faculty”
for Education.
Summary
As you will see from the current fiscal year, we have no intention of assuming continuing success without a lot of work,
program review and reinvigoration, facilities improvements, attention to salaries and a continuous presence as a player
within our community. We want to extend our appreciation to Glenn Watts, Rosalie Sturtevant and other University
administrators for their support during this year.
Barbara
Gellman-Danley
President
Antioch University McGregor
2002-03 Actual Expenditure Summary by Function
Revenues
Tuition & Fees
Less Tuition Di~eourtt~
Net
Tuilton
and Fees
Gifts
Lead Gifts
GmtitS
Endowment
inme
Contract’s
Realized
Gains
(~osses)
Unrealized
&ins
(Losses)
Othrer
Income
Total
E&G
Rewnue
Auxiliary
EntWprises
Released Fm Restnetions
Total
RmW
OpmtiiTg Expenses
lmtructiort
Research
Public
Semi&
Academic Support
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total E&G Expenses
Auxiliary Enterprises
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Ã
Prior Year Reserves
Add
back
DeptteCiatioh
Total Cash
Ifems
Net Cash Basis Budget
2001 -02
Actual .—..–
5,097,582
-76,339
5,021,243
39,584
0
59,075
0
49,379
0
0
14.208
5,183,489
0
40,807
5,224,296
2,547.443
0
2,828
128,942
718,723
1,541,854
270,418
13,597
5,223,805
0
5,223,805
491
277,120
-45,065
16,818
-52,253
-166,076
30,544
-30,053
2002-03
Budget
—-..*
5,578,243
0
5,578,243
80,000
0
14,000
0
0
0
0
16,050
5,688,293
0
0
5,688,293
2,945,393
0
0
20,000
832,044
1,591,248
285,608
14,000
5,688.293
0
5,688,293
0
99,550
0
16,445
0
-156,830
-38,835
38,835
2002-03
Actual
Change From
200243 Budget
to 2002-03 Actual
Antioch University McGregor
2002-03 Actual Expenditure Summary by Category
Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant
MaintEnance
Interest Expense
Resale
Co’stS
Miscellaneous
Contingency/Reserves
Campus Contingency, Mandatory
Campus
Program
Contingency,
Discrestionary
Capital Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsiey
from Overhead
Other
(Intercampus
Agree & Univ Con0
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to
Cash
Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Items
Net Cash Basis Budget
2000-01
Actual
—“.–
5,168,849
2,579,702
717,394
82,044
32,698
46,513
58,769
656,491
107.050
36,844
0
11,305
0
0
58,601
638,708
-232,258
34,200
0
328,196
0
5,156,257
12,592
163,594
-163,594
0
0
0
0
12.592
2001 -02
Actual
5,224,296
2,743,441
957,250
61,015
90,650
25,433
60,167
562,598
116,831
25,239
0
64,954
0
0
0
500,000
0
0
-150,000
151
166,076
5,223,805
491
277,120
-45,065
16,818
-52,253
-166,076
30,544
-30,053
2002-03
Budget
2002-03
Actual
—–.–
6,315,364
2,968,056
943.021
105,837
145,945
26,818
95,513
700,307
64,081
17,338
0
9,039
0
0
100,000
412.061
0
0
0
124,528
204,936
5,917,480
397,884
408,579
-44,534
238,212
0
-204,936
397.321
563
Change From Change From
2002-03 6udPt 2001-02 Actual
to 2002-03 ~ctual to 2002-03 Actual
Ph.D. in Leadership & Change
2002-03 Year-End Review
At Major Program Highlights:
This 2002-03 year is the first full year of operations. The program work of this year was entirely funded by tuition income,
as well as several small grants that were secured to support outreach activities. It has been a very successful year with
many positive events and achievements:
*The North Central Association (NCA) review of the PhD Program occurred as part of the University’s res
accreditation site visit (October 2003). We are pleased that the NCA review team considered the Ph.D. in
Leadership & Change Program to be “exemplary” and a demonstration of “innovative practice” that reflects the
spirit of Arrtioch at its best.
A national search was conducted for several more Core Faculty and, as a result, three m& nationally
q
recognized faculty have been hired, two at full-time, and one at half-time. A significant amount of work was
done on designing the distinctive faculty roles and responsibilities. Comprehensive faculty policies and
evaluation methods were articulated in a complete Faculty Handbook2002-2004.
In 2002-03, we admitted a second cohort of 27 students, and retained the 11 from the first Cohort.
I
Budgets (income and expenses) were met and, in fact, tuition-generated income exceeded projections.
The curriculum continued to evolve. Four intensive residencies were held during the year, one at Antioch
College/McGregor,
one in Seattle, one at Antioch New England, and one at Antioch Los Angeles.
I Systems have been put in place to monitor student learning regularly and through multiple metho’ds, and
I program quality is continually assessed.
I
The first annual all-faculty review of every student’s academic progress was completed in April.
Specially designed registrarial, financial and student account systems have been created and have functioned
effectively. Student evaluations of program services are available upon request and indicate excellent ratings.
The Antioch New England graduate research library support has been established and has met with rave
reviews from the students and faculty. The Program pays Antioch New England for library support, including
acquisitions and librarian research for faculty and students. In addition, the Antioch New England Doctoral
Reference Librarian attends every residency and offers sessions as well as one-on-one support for students.
Student evaluations of library services are available upon request.
9 The program’s outreach arm, the Leadership Institute, has been established and we have secured our first two
grants: a $90,000 two-year grant to support community youth leadership development in Pennsylvania, and a
$40,000 two-year grant to evaluate community mental health services in Santa Barbara County.
I
B. Financial Detail – Revenue & Major Expenditures
Income: Tuition &_Fees
We had projected $598,250 tuition-generated income, and actually brought in $622,825, representing a 512% change
over 2001 -02. Including other income, from gifts and grants, we actually had total revenue of $687,523.
, Major Expenditures
We had projected operating expenses of $592,750 and actually spent $659,424. Given the additional revenue over
projection, we actually ended the year with $28,099 excess revenue over expenses.
‘ The largest expenses in this program were salaries ($330,717 + $107,349 in benefits), Travel ($65,656), followed
distantly by Advertising ($1
7,592),
Telecommunications
($15,492),
and Subscriptions ($1 5,000). These expenses make
sense given that the entire program
(facultylstaff)
travel to at least four residencies each year plus other faculty meetings,
including two face-to-face retreats. In addition, the telecommunications costs cover biweekly conference calls, all the
home office communications costs, as well as basic plans for cell phones for our mobile faculty.
e
!
The only expense line that was significantly over projection was the travel line, which had been budgeted at $40,000.
Most other expenses were reasonably close to projections, with several lines actually closing considerably underspent,
including local meetings (because we did not hold an advisory board meeting), consulting services, and postage.
Laurien
Alexandre
Director
PhD in Leadership and Change
2002-03 Actual Expenditure Summary by Function
Change From
2002-03 Budget
to 2002-03 Actual
$ %
.—.-a. – -. — .- –
Change From
2001-02 Actual
to 2002-03 Actual
s %
—.—- .-.-..-.
2000-01 2001-02
Actual Actual
2002-03
Budget
2002-03
Actual
–..– -.
622.825
-5,500
617.325
0
0
57,062
0
0
0
45
3,581
678,013
0
9,510
687,523
Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts
Lead Gifts
Grants
Endowment
Incbme
Contracts
Realized Gains (Losses)
Unrealized Gains (Losses)
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Operating Expenses
Instruction
Research
Public Service
Academic Support
Student
Service
Institutional Support
Plant Maintenance
Scholarships
Total E&G
Exi%enses
Auxiliary
Enterprise’s
Total Operating
EX~WSBS
Excess Revenue
Otfer
Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Pnor
Year
Res’eWe’s
Add back Depreciation
Total Cash
trams
Net Cash Basis Budget
PhD in Leadership and Change
2’002-03 Actual Expenditure Summary by Category
Change From
2002-03 Budget
to 2002-03 Actual
s %
Changs ~rwi
2001-02 Actual
ti0 2002-03 Actual
s %
-=,.A%
466,351 21 085%
ZSm-01
2001-02
2002-03
2002-03
ACftial
Actual Budget Actual
w-.- .as.- .-a- —.—-
221,172 582,750 687,523 Revenues
Operating Expenses
@ Salaries &Wages
Benefits
Training & Development
Sruaent
A19
Services
Special Events
Supplies
Business
Oeeiwions
Plant Maintenance
Interest Expense
Resale Casts
Miscellaneous
Cont~raeney/Rssa-ves
campus contingency, Msriatory
Campus Pmgram Coflfingsncy, Discretionary
Liquidity
Reme
Overhead
To the University
Rebates from the university
Subsidy from Adult G2mpusas
Q Subsitly fmm Overhead
OWer
(intemus AQres & Univ Cmf)
Depreeiatiufi
Total Operating
Expenses
Excess Revenue over Expenses
Annual Budwt Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Items
Net Cash
Basis
Budget
ANTIOCH UNIVERSITY ADMINISTRATION
2002-03 Year-End Review
The successful search for a new President of Antioch University Southern California occupied much of the Chancellor’s
time during 2002-03. Not only was he directly involved in the search process, but he made many trips to the campuses in
order to monitor important events including the identification of a new facility for the Los Angeles campus.
Perhaps the most time-consuming task of the year was completing the preparation for the
NCA
accreditation review and
then engaging the review team as it visited each of the University’s campuses. The review team was larger than
ordinarily expected and individuals from the other accreditation regions were added to the team for visits to the campuses
outside of the North Central area. The entire process was made more difficult by delays that originated with North
Central and the uncertainties surrounding the process made the enterprise much more difficult. Fortunately, the overall
result was positive as our accreditation was extended for ten years, although a follow-up visitation means that the work is
not yet complete.
Work on preparation for the Capital Campaign continued during the year with several meetings of the Development
Committee and additional meetings with perspective donors. Training sessions were planned and held to acquaint
Trustees with the best techniques for approaching donors, and key positions in the College Development Office were
filled. A serious auto accident involving the new Development Director disrupted the schedule for bringing the College
development office to full readiness for the Campaign, but efforts are underway to recapture the lost time.
@ During the year, a major policy document for the development function was prepared and approved by the Board of
Trustees. This policy sets out the principles that govern the way in which the University will solicit funds and how the
funds will be reported. It represents a major step in formalizing the way in which our eleemosynary functions are
conducted.
A number of physical plant improvements involving University facilities were accomplished during 2002-03. The paving of
‘ the Kettering parking lot, a project that has been deferred for financial reasons for three years was finally accomplished at
the
end
of
2002-03. The lot, which was in serious disrepair, created a negative impression for the many
McGregor
,
students who attend class in the Kettering Building, In addition to the paving, lighting was added to assure the personal
safety of students attending evening classes during the dark winter months.
a Three major electrical transformers that were located inside of the Kettering Building were removed and replaced by
transformers located outside of the building. Although these transformers no longer contained PCBs, they were part of
the original construction and because of their age were becoming a fire hazard.
During the year, an effort was made to find private parties who would assume responsibility for the preservation of the
Grinned Mill. The Mill is one of the oldest buildings in Greene County and its location on the edge of Glen Helen made it
a responsibility of the University. We met several times with an individual who expressed interest in renovation of the Mill
and several attempts were made to develop a lease for the property that would assure its renovation. These negotiations
continued
into
the current fiscal year, but ultimately failed.
I
I
Concern over the budget deficits at WYSO, and the campaign by a group of individuals unhappy over the program
changes that were made two years ago required additional time and effort. The Chancellor met with the WYSO
Resource Board on several occasions and also held meetings with the group that opposed the change in programming.
9 Despite the investment of considerable time and effort, reconciliation has not been possible.
Work
with the Investment Committee focused on ways to increase returns in a bear market. After considerable
discussion, the Investment Policies were amended to permit a limited range of alternative investments. As a result, a
hedge fund manager, K2, was identified and selected to handle a portion of the endowment fund, A second hedge fund
manager was identified, but ultimately rejected by the Committee because of concern about the restrictive nature of the
investment contract.
The collective bargaining contract with the
McGregor
union was successfully negotiated and work began to prepare for
negotiations with the College unions.
The annual review of property and
fiability
insurance was conducted leading to a decision to change carriers for the
liability coverage. Better service, closer coordination with the University attorney, and
lower
premiums were the result.
A review of the financial summary schedules shows that nearly all of the revenue for the University Administration is
provided by the campuses. For this reason, the Chancellor is particularly sensitive to growth in the Administration and
has made every effort to limit expenses. Total 2002-03 operating expenses were $27,000 (1 ‘6%) greater than budget,
but $1 66,925 (8.9%) less than in the prior year. Expenditures in 2002-03 mark the third consecutive year in which
I expenses have been reduced from the prior year.
e
The University Administration ended the year with a positive accrual balance of $22,849.
Glenn Watts
Vice Chancellor and
Chief Financial Officer
Revenues
Tuition & Fees
Less Tuition Dise~u~ts
Net Tuition and
Fess
Gifts
Lead Gifts
0 Grants
Enuowrnienff ~nmi
Contracts
Realized
&Sir@ (LIES%)
WHreali2ed W[fiX (Losses)
Other
h~wrffl*
Total
E&G RgwBff~e
Auxiliary Enterprise’s
Released Fm Restfiefieirs
Total Revwmes
NBt
Overheat) f8r Central Op&Zifi~n’s
Opwatifffl
EXBfnsas
instruction
Research
Public
Semis
Academic $up$%ft
Student SwritSs
Institutional Swpptm
Plant MaWt(Â¥nan
Scholarships
Total E&G Expaism
Auxiliary Enterprises
Total Operating Expenses
Annual Budget Convwsim to Cash Basis
Capital Expenditures .
Borrowing Proceeds
Principal
Pments
Prior Year
Ra’s-erves
Add back DepreaaWfi
Total Cash Irems
Net Cash
Bass
Budget
University Administration
2002-03 Actual Expenditure Summary by Function
2001-02
Actual —–.-
0
0
0
1 3,769
0
0
0
0
0
0
0
13,769
6
0
13,769
1,861,605
0
0
0
0
94,938
1,773,240
0
0
1,868,178
0
1 ,&68,178
7,196
7,196
0
0
0
0
7,196
0
200243
Budget
–â —.-
0
0
0
10,000
0
0
0
0
0
0
0
10,000
0
0
10,000
1,663,910
0
0
0
0
101,031
1,572,879
0
0
1,673,910
0
1,673.910
0
0
0
0
0
0
0
0
2002-03
Actual ——–
0
0
0
13,478
Â¥
0
0
0
0
0
0
13,478
0
0
13.478
1,710,624
0
0
0
0
100,093
1,601,160
0
0
1,701,253
0
1,701,253
22.849
22,849
0
0
0
0
22.849
0
Change From
2002-03 Budget
to 2002-03 Actual
Change From
2001.02 Adf’uSl
to 2002.03 Actual
University Administration
2002-03 Actual Expenditure Summary by Category
Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
9 Campus Contingency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other
(Interearnpus
Agree & Univ Conf)
Depreciation
Total Operating Expenses
ExcessRevenueover
Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Items
Net Cash Basis Budget
2000-01
Actual
–.-.—
2,053,375
1,053,673
326,301
177,555
0
0
43,447
226,540
161,725
4
0
5,462
0
0
0
0
0
0
0
4,556
0
1,999,263
54,112
54,112
0
0
0
0
54,112
0
2001 -02
Actual
——–
1,875,374
1,080,425
361,024
141,002
0
131
22,862
98,298
156,838
282
0
7,316
0
0
0
0
0
0
0
0
0
1,868,178
7,196
7,196
7,196
0
2002-03
Budget
1,673,910
895,698
348,871
102,200
0
0
38,165
92,048
169,828
300
0
1,800
0
25,000
0
0
0
0
0
0
0
1,673,910
0
0
0
0
0
0
0
0
2002-03
Actual
-.–.–
1,724,102
933,234
363,698
104,841
0
5,653
22,474
105,718
163,852
4
0
1,779
0
0
0
0
0
0
0
0
0
1,701,253
22,849
22,849
22,849
0
Change From Chan’ge From
2002-03 Budget 2001-02 Actual
to 2002-03 Actual to 2ff02-03 Actual
ANTIOCH REVIEW
2002-03 Year-End Review
The Review ended the year with an anticipated deficit and unanticipated national recognition with the PEN/AmericanJs
Center’s Nora
Magid
Award for career achievement given to Robert S. Fogarty at a ceremony at Lincoln Center in New
York. The award is made every two years to a “magazine editor whose high literary standards have contributed to the
excellence of a Hterary journal or general-interest magazine. ” The two other life achievement awards went to Donald
Keene,
the translator and John Guare, the playwright.
This award highlights the lead position that the Review occupies in the literary world. The citation awarded said: “Found
in libraries from Delhi to Dresden, Dublin to Dubuque, Boston to Beijing, the Antioch Review embodies both the
continuing
vitality
of the literary magazine as a species and the humanistic interests for which the journal stands. Since
1977 that charge has been brilliantly led by Robert Fogarty, whose tireless editorial commitment supports the widely-held
suspicion that the secret center of American publishing is in fact Ohio.”
The editor attendee) the BookExpo meeting in Los Angeles, a CLMP seminar on distribution in New York and was the
keynote speaker at the Philadelphia Writers Conference. One essay and one story were included in the 2003 Pbshcart
Awards, a short stolry author found her work included in a new “best” anthology, the Silver Rose Anthology, and a poet of
ours was included in the Best American Poetry 2002.
Audio recordings of the magazine are now available through the Cincinnati Regional Library for the Bfinrd and complement
our arrangement with the Choice Magazine Listening service that provides literary material free to the blind. We
increased the number of pages for the magazine in order to provide more space for
writers, but also to make us more
competitive with other more heavily subsidized magazines. We have seen some early success with this strategy as the
”pass-through” rate at our bookstores has increased. Although total sales are down because of a reduced draw from our
distributors, the percentage of sales has increased. We will be increasing our subscription rate with the winter issue in
order to generate more revenue and to pay for the increased size of the book.
*
< Our audience is national and international and over the past year we have increased the number of works published in translation, an important contribution literary magazines make to our international culture. We see this as part of our
educational mission. Over the next few years we hope to see the magazine distributed more widely overseas (we have a
large international library base through Blackwells) although that is a daunting project. Over the past year we have
published four numbers (each 196 pages) with one special "all fiction" issue.
We constantly use data provided by our distributor to see how the market operates. Recently we have started to call
bookstores in California to increase our presence there and have worked with our distributor,
Ingram,
to broaden our
market. The "best" anthologies remain an important external standard and we continue to appear in them. Our plan has
been to bring the magazine up to a respectable size, to maintain our quality in doing so and to expand our supporter
base. So far we have done that in a difficult environment, but having the support of the university administration and staff
has been important.
We conducted fundraisers in New York and Chicago and expanded our "Friends of the Antioch Review" as the result of
these activities. Our annual fund raising netted $28,132 compared to $19,489 from the previous year. Our operating
revenues were below budget despite a slight increase in electronic rights payments. Increased costs came in the areas
of printing, postage and new computers and there was a decline in endowment income. We have received a grant from
the Ohio Arts Council ($2,700) and made a grant application to the N.E.A. (for $10,000). Our staff remains the same and
there were increases in benefits and salaries as required by contracts. Without a University subsidy we could not have
continued despite our best efforts.
Robert
Fogarty
Editor
Antioch Review
2002-03 Actual Expenditure Summary by Function
Rewmes
Tuition & Pea
Less Tuition Diswuwts
Net Tuition and Fees
Q Gifts
Lead Gifts
Grants
Entlownrent
~nvame
Contracts
a
Realized Gain's (Losses)
Unrealized
Gains (Losses)
Other Income
Total
E&G Revenue
Auxiliary Enterprises
+ Released From R!SstriOibns
Total
Revenas
$
Operating Expenses
InStruCtiOn
Research
Public Service
Academic Support
Student SBrviW
o ~nstitutionai support
Plant Maintenance
Scholarships
Total E&G Expenses
Auxiliary
Efitwi~es
Total
Operafing
Sxpmses
Excess Revenue over Expenses
Annual
Burnt
C~nvws~on to Cash Baste
Capital ExpwelTtwes
Burrowing
Pro-mds
Principal Payments
Prior Year RSTSTO/BS
Ada back DwiafiBn
Total Cash
Items
Net Cash Basis Butlijet
2000-01
Actual
.-w.--.
0
0
0
41,272
0
0
9,541
0
0
0
11,699
62,512
57.815
1,000
121,327
0
0
129,035
0
0
0
0
0
129,035
0
129,035
-7,708
0
0
0
0
0
0
-7,708
2001-02
Actual
.-------
0
0
0
10,489
0
3,084
10,162
0
0
0
10,432
43,167
57,383
0
160,550
0
0
127,950
0
0
0
0
0
127,950
0
1 27,950
-27,400
0
6
0
0
0
0
-27,400
2002-03
Budget ...-----
0
0
0
57,495
0
2,993
9,500
0
0
0
6,700
76,688
56,000
0
132,688
0
0
132,688
0
0
0
0
0
132,688
0
132.688
0
0
0
0
0
0
0
0
2002-03
Actual ------
0
0
0
28,132
0
2,993
8,021
0
0
0
16,144
55,290
49,687
0
104,977
0
0
142,805
0
0
0
361
0
143,166
0
143,166
-38,189
4,328
0
0
0
-361
3,967
42,156
Change From
2002-03 Budget
to 2002-03 Actual
Antioch Review
2002-03 Actual Expenditure Summary by Category
Revenues
Operating Expenses
Salaries &Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other (Intercampus Agree & Univ Conf)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Items
Net Cash Basis Budget
2000-01
Actual
..------
121,327
50,265
24,045
4,441
0
0
-2,363
52,647
0
0
0
0
0
0
0
0
0
0
0
0
0
129.035
-7,708
0
0
0
0
0
0
-7.708
2001-02
Actual
-..----.
100,550
51,978
27,680
569
0
0
-2,684
50,407
0
0
0
0
0
0
0
0
0
0
0
0
0
127,950
-27,400
0
0
0
0
0
0
-27,400
2002-03
Budget
--------
132,688
51,300
29,613
2,200
0
0
-2,575
52,150
0
0
0
0
0
0
0
0
0
0
0
0
0
132.688
0
0
0
0
0
0
0
0
2002-03
Actual
-..----.
104,977
53,722
30,657
2,625
0
0
-2,140
57,941
0
0
0
0
0
0
0
0
0
0
0
0
361
143,166
-38,189
4,328
0
0
0
-361
3,967
-42,156
Change From
2002-03 Budget
to 2002-03 Actual
$ %
..-.--- ---.--.
-27,711 -20.88%
Cha-n'ge From
21001-02 Actual
to 2002-03 Actual
$ %
-------. ...**---
4,427 4.40%
WYSO RADIO
2002-03 Year-End Review
In terms of its reach and impact as a public broadcaster, during 2002-03, WYSO Public Radio broke all previous listener
records. Nevertheless, while the station is still navigating a challenging fiscal environment, all
indieafors
point to
significant opportunities for the station to create the context for a truly self-sufficient operation. These opportunities will
also allow WYSO to expand its service to Antioch University, as well as to its broadcast and online communities.
' During the past five years, WYSO's weekly audience in the Miami Valley has grown by more than SQ%, reaching over
.20,000 more listeners than were listening at this time in 1998 (currently at 57,200 in the Total Listening Area, according to
* Spring 2003 Arbitron). The trends continue upward.
This is, of course, important as it signifies that the station is building its capacity to provide "significant programming for a
, significant audience." This simple phrase has embodied the strength that public radio stations nationwide have
demonstrated in their ability to produce programming and schedules of depth, quality, and distinction
unfivaled
by other
stations on the broadcast dial. This, in turn, enables stations to maintain a public service enterprise that can generate
revenues to sustain operations over the long-term. Programming adjustments implemented 19 months ago are
demonstrating anticipated strength and are entirely in keeping with the benchmarks and best practices of the public radio
industry, as well as station management expectations. Stated simply, it typically takes anywhere
from 18 months to 2
years before a radio station can reliably determine whether programming changes - whether targeted, as in WYSO1s
case, or a format overhaul - are attracting new listeners. Right in synch with this timeline, there is no doubt whatsoever
that
WYSO's
changes are
working. In terms of the experience of public radio stations nationwide, it usually takes about a
year to 18 months after this for a station to witness significant growth in revenues. Again, based on system expectations,
WYSO is on time and on track to re-achieve the financial goal of maintaining a self-sufficient operation.
Antioch and WYSO are achieving these results within the University's historic context as a progressive and innovative
institution. As any good business, the station relies on the benchmarks, models, and best practices in evidence in the
public radio
in'dusstfy.
However, this by no means should be interpreted as any type of "paint by numbersf' approach.
. WYSO is seen by its public radio colleagues and its growing listenership as a highly original station. It continues to break
* new ground. To cite but one significant example, WYSO1s weekly newsmagazine, WYSO Weekend, is demonstrating
how local public radio stations, with limited staff and resources, can produce compelling and original programming that
was once only the province of networks and flagship stations. Rather than take additional space here to describe the
process of creating this program and the national impact it is having throughout public radio, more information is available
in an article that appeared in the January 13, 2003 edition of Current, the national newspaper of public broadcasting.
Entitled, "New programs brighten public radio's weekend mood," the full text is available at:
www.current.ordradio/radio0301 weekend.html
Related to this is
WYSO's
pioneering leadership as an advisor to the Public Radio Exchange (PRX), whose mission is to
create more opportunities for diverse programming to reach more listeners. This online pathway will move significantly
more content, more directly through the public radio system by establishing horizontal connections between content
creators and broadcast outlets, rather than vertical relationships, mediated through networks and large distributors. PRX
is a tool of freedom, imagination, initiative, and creative vision for a mature public radio field. WYSO Public Radio is a
charter station of the PRX, which officially launched in September 2003. WYSO sees its
involvement
with PRX as
something that is befitting of the mission and traditions of Antioch University.
WYSO's
achievements are NOT an abstraction in terms of fulfilling the mission of Antioch
University.
Institutionally
licensed public radio stations have significant evidence that they have a valuable asset in their public radio stations when
they deliver broadcast services of the highest quality and distinction to their communities. This statement is borne out by
an NPR-commissioned
study
in support of its partnership with the independent organization
University:Station
Alliance
(U:SA).
In a survey of adults representative of the U.S. population, 82% affirmed the community
service
provided by
universities and colleges affiliated with public radio stations. Additionally, 67% of the total and 80% of NPR listeners
believe that it is either an "excellent" or "good fit with the educational mission of a university to be associated with a
public radio station.
I
WYSO, other NPR stations, and U:SA all recognize that both public radio and universities seek to engage people and
enhance democracy by creating a more informed public. Survey results clearly demonstrate a quantifiable public
appreciation for universities achieving this by partnering with public radio stations to provide quality programming to the
Qcommunity.
Nationally, university-licensed public radio stations serve 15.3 million listeners each week. This number
eclipses the number of students who enroll each year in U.S. colleges and universities. Dr. John H. Keiser, president of
Southwest Missouri State University and an NPR board member says, "public radio is the highest quality, lowest cost,
most insightful, and supplemental educational tool available to university students - if it is used. As an educator, I have
, used it since its first broadcast."
Antioch University is using WYSO Public Radio to its best effect. The research above confirms that WYSO1s Service is iii
net positive for Antioch, serving as an outlet for building area relationships and fostering a positive image of Antioeh.
Ã
'
Beyond audience, tangible benefits to the University are increasingly in evidence. Several years ago, Antioch University
McGregor
(AUM) began making regular and ongoing use of messaging opportunities on
WYSO.
AUM1s
underwriting
announcements on the station are practical communications to adults interested in pursuing their educations.
AUM
understands how to have maximum impact toward achieving its own goals by focusing its message's on the many
informational sessions it regularly convenes for those potentially interested in enrolling in an AUM degree programi AUM ,
officials continue to validate the value of WYSO in raising the visibility of this campus, its programs and activities. Not
one information session goes by that does not have attendees who say they "heard about it on WYSQ." This is profound
? as the demographic and psychographic profile of the average WYSO listener is entirely in line with those who seek
educational services from AUM. More important,
AUM's
messages over WYSO are provided by the station, at no cost,
as a part of the service it returns to Antioch University.
If
AUM
wanted
to
r@mh
the same audience with these messages, it could not identify a broadcast station or print
publication that is as effective as WYSO in delivering them. If WYSO was not available, AUM would need to use several
I different media outlets at a cost that it likely could not shoulder at this moment, nor likely sustain as consistently as exists
over
WYSO's
airwaves.
Similar messaging services are provided to the
Ph.D.
in Leadership and Change, Glen Helen, and
Antitch
College.
WYSO management believes that Antioch New England Graduate School, Antioch University Southern California, and
Antioch University Seattle may also derive some benefit from messaging on
WYSO,
even if such messages are bundled
and reference the Antioch University system. Although WYSO broadcasts to Ohio's Miami Valley, it should be noted that
the station's signal is available for on-demand streaming over the Internet. More important to take into account is the
mobility of today's society and the fact that one never knows who is listening at any given time. Doubtless, listeners have
family, friends, and colleagues who reside in the geographic communities Antioch serves.
Antiochians
can attest to the
fact that many people are stid unaware that Antioch University is more than an Ohio-based, undergraduate-oriented
entity. Literally broadcasting this fact on a regular basis can help to change this perception. It does nut require any
great
act of number crunching to determine that messages which attract even a handful of new
emflees
to Antioch University
programs would represent significant revenues to the institution.
WYSO management encourages Antioch University to understand the total cost accounting impact of the station on its
overall operations, and specifically in terms of the station's recent deficits.
WYSO's
impact is more than reasonably
quantifiable in terms other than strict revenue streams and itemized expenditures. In other words, a professional
assessment of the total value of the WYSO asset must go beyond the value of the broadcast license and the broadcast
equipment. A useful valuation of the station's public relations and promotional services to the University, as well as an
accounting of the revenues that the station has helped to generate for other divisions of the institution will certainly
demonstrate that WYSO's current contributions to Antioch University are not clearly understood when only viewed
through the prism of an Excel spreadsheet.
v
All of this said, WYSO management wants to achieve more for Antioch University.
For the past five years, WYSO has been trying to fulfill the University's mandate that it work beyond its mission statement
to help expand Antioch's academic programs. Station management remains convinced that sustainable educational
opportunities can be created that will benefit both WYSO and students. Student opportunities can and should extend
beyond the undergraduate realm. Station management remains interested in developing targeted
opportunities
for
students throughout the Antioch system.
WYSO has long proposed any number of ideas that it believes will prove valuable to its specific, station-related goals, as
well as Antioch's student service-oriented objectives. Many of these have been warmly received at the highest levels of
institutional administration. Some of these ideas include the creation of a communications co-op, which would be a highly
Q competitive program for students who know that they wish to pursue careers in broadcasting, news media, public
relations, marketing, etc. Each time a given student's co-op window opens, that student would return to WYSO and have
s their professional exposure and experiences built up in stages. WYSO could use its contacts in the public radio system
to identify opportunities for students to intern at other stations and networks. This would extend to the international co-op
requirement, as WYSO can work with its contacts, domestic and abroad, to secure appropriate slots such that the station
could create a comprehensive
co-opleducational
plan. In an era of intense competition in almost all sectors of society,
this would provide Antioch with a highly unique educational program that it can use in its own marketing and recruitment
initiatives.
To achieve optimal effectiveness, there would also need to be a reasonable degree of curriculum compatibility, such that
' classroom learning and activities directly compliment the employment requirements in the co-op setting. This would only
help to make the total educational package that much more compelling, fulfilling, and practical to the student and their
families.
' This year revenues did not keep pace with costs and the station ran a deficit. A number of factors contributed to this, not
the least of which was the continuing weakness of the economy. Public radio stations, like the rest of the not-for-profit
sector, experienced fundraising declines, mostly in underwriting sales.
1 , WYSO's Fall 2002 On-Air Membership Campaign established an overall fundraising goal of $150,0010. The final tally was
* $1 71,544.
WYSO's
Spring 2003 On-Air Membership Campaign established an overall fundraising goal of $1 75,01)0. The final tally
was $1 92,339.
A brief,
errd-of-fiscal
year drive was also conducted in June 2003 and raised $14,463.
Underwriting revenues in 2002-03 were $166,529, a figure that did not meet the goal of $250,000. While the weak
economy was a significant factor, another concern is summarized in a public radio industry assessment that, a a
June 30, 2003 headline in Current stated, "Underwriting sales held down by under-staffing, say experts." The full text of
this story is available at: www.~urrent.orq/fundina/fundina0312underwritina.htrnl
Management is concerned that its development staff of two persons is being asked to handle too many development
responsibilities and, consequently, really cannot succeed appropriately in any single area. This is espe6ially true of major
donor
fundraising.
Public broadcasters are well aware that it is leaving millions of dollars on the table eWry year due to
its lack of concentrated efforts to develop this revenue stream. Indeed, for the past decade or more, PlMSO
administrations have stated their intention to develop this revenue stream. Unfortunately, this has yet to ocew. Awd ft is
not due to a lack of desire, but rather a lack of human resources.
In fact,
WYSO
management convened a teleconference with the assistance of the Development Ekchange, IRG+, public
radio's leading fundraising clearinghouse, to discuss how WYSO could begin a major donor operation. One of the Ctitteal
pieces of information that arose from this consultation was the danger of commencing such an initiative without the ability
to designate the human resource hours necessary to do the job right. The station is exploring options to begin this effort
during the current fiscal year.
Yet, even in a weak economic climate,
WYSO's
underwriting revenues should be somewhat stronger than was evidenced
this past year. The WYSO Development Department is aware that underwriting goals for 2003-04 are significant and all
efforts must be made to attain them. If, halfway through the fiscal year, the station is not
appropriately
on track towards
these goals, staffing changes may have to be considered.
A significant development that should improve opportunities and revenue generation is a new, joint
initiative
between
WYSO and Dayton Public Radio (OPR). The two stations are establishing a "collecting agent" entity to be known as
Miami Valley Public Radio (MVPR). MVPR will exist to sell underwriting for both stations as a package. The logic of this
coordinated approach to underwriting sales is grounded in the realities of the marketplace. In the aftermath of major
commercial media ownership consolidations as a result of the Telecommunications Act of 1996, media buyers are, more
and more, dealing with a single ownership group
(e.g.,
Clear Channel Communications, Radio One) presenting a single
sales package on behalf of all the media properties they own in a given market. Therefore, a single media buy can
immediately place an underwriter's message on 8 radio stations. In this environment, an individual public radio station,
selling only itself, becomes an inefficient approach to airtime sales and one that fewer media buyers are willing to indulge.
Combining the total audience numbers for WYSO and DPR, and selling the power of their demographic impact becomes
far more powerful than either station on its own. WYSO and DPR have worked closely with development
leadership
in
the public radio system to create the strongest possible alliance for this sales initiative. One of the most
pertine'nt
models
upon which the
WYSOIDPR
partnership is based comes from the Public Radio Partnership in Louisville, KY. There,
three stations combined to sell as one package and have experienced dramatic growth in revenues within a few short
years.
On a similar front, in June 2003, 1 was re-elected by my colleagues to serve a second term of office as president of Ohio
Public Radio
(OPR).
One of my top priorities has been the establishment of the Ohio
Multi
Station Underwriting Plan.
The idea of this plan is patterned after similar partnerships in North Carolina and Florida, and is an expansion of
the
concept described above for WYSO and OPR. Once again, the two states referenced have generated very significant
increases in underwriting revenues for their respective public radio stations. In August 2003, 1 convened an OPR summit
on the
multi
station plan. It was the first time in anyone's recollection that all 13 OPR member organizations were present
for a statewide meeting. The group developed a series of action items to move the plan into its next phase of
implementation.
WYSO's
revenues will be very positively impacted by the success of this OPR initiative.
During 2002-03, the Corporation for Public Broadcasting (CPB) hired
Vinnie
Curren as itis fi, new Vtee President for
Radio in 18 years. Mr. Curren has indicated that he and the CPB are now exploring ways to go beyond simply
encouraging stations to work together. He is actively exploring how the CPB can leverage its influence in such a way as
to force the issue. Curren believes that creating efficiencies is both a responsible use of the taxpaysfsf inWMment and a
sensible means of running a public radio business. He has specifically referenced two articles that are having a profound
effect on his
om
thinking: "We need not bake our own cookies," published in Current, June 25 2003 (~vailabke at
www.cu.rrent.~ra/~b/~bO3I,Ocookies.html}, and "The Nonprofit Sector's $100 Billion Opportunity," published in the Harvard
Business Review, May 1, 2003 (of which, more information is available at:
http://harvardbusinesson.line,.hbsp,.harvard.edu/b0.1/en/common/item detail.,ihtml:,ises$io.nid=2^BBlQUM?PECTE~
NSELQ?id=R0305G).
These efficiency issues are raised in detail in this report because they are not new to WYSO. As far back as 1993's Twin
Signals Project, WYSO and DPR have discussed opportunities to share resources. In the decade since, the
conversations between the two stations have never really ceased. The joint underwriting and marketing initiative
referenced above is but the first and most visible outcome of these efforts. WYSO and DPR have appro'aehed Mr.
Curren and other system leaders to ask for their guidance and support in finding the right mix and balance to achieving
the objectives of efficient operations within the context of two, independent licensee structures. Mr. Curren has agreed to
assist, as has the Station Resource Group, DEI, NPR, and others. WYSO and DPR have been encouraged that they are
on the leading edge of creativity and are being offered assistance because of the vision they have shown in pursuing
partnership opportunities. System leaders have stated their confidence that both stations will be able to secu're system
and other funding to assist them in pursuit of these goals.
Steve Spencer
General Manager
Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts
Leatf
Gifls
Grants
Endowment Income
Contracts
Realized Gains (Losses)
Unrealized Gains (Losses)
Other Income
Total E&G Revenue
Auxiliary
Enterpnses
Released From Restrictions
Total Revenues
Operating Expenses
Instruction
Research
Public Service
Academic Support
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total
E&G
Expenses
Auxiliary Enterpnses
Total Operating Expanses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal
Payments
Pnor Year Reserves
Add back Depreciation
Total Cash Hems
Net Cash Basis Budget
WYSO
2002-03 Actual Expenditure Summary by Function
2000.01
Actual
0
0
0
384,669
0
167,984
0
0
0
0
323,699
876,352
1,025
41,622
918.999
0
0
866,974
0
0
0
0
0
866,974
0
866,974
52,025
4,559
0
55,162
0
0
59.721
-7,696
2001 -02
Actual
-..-...-
0
0
0
450,009
0
169,067
0
0
0
0
330,820
949,896
330
6,159
956,385
0
0
1.014.451
0
0
0
31,639
0
1,046,090
0
1,046,090
-89,705
6,491
0
15,162
0
-31,639
-9.986
-79,719
2002-63
Budget .-.-...-
0
0
0
41 5,000
0
170,294
0
0
0
0
274,025
859,319
500
0
859,819
0
0
853,240
0
0
0
0
0
853,240
0
853,240
6,579
21.846
0
15,168
0
-30,435
6,579
0
2002-03
Actual ..... -.-
0
0
0
442,147
0
171,470
0
0
0
0
298,720
912,337
190
0
91 2.527
0
0
1,020,830
0
0
0
21,186
0
1,042,016
0
1,042,016
-129.489
0
0
15.171
0
-21.186
-6,015
-123.474
Change From
2002-03 Budget
to 2002-03 Actual
Change From
2001-02 Actual
to 2002'03 Actual
WSO
2002-03 Actual Expenditure Summary by Category
Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supphes
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
Contingency/Ressrves
Campus
Contmgency,
Mandatory
Campus Program
Coritingency,
Discretionary
Liquidity Reserve
Overhead
To fhe university
Rebates from the University
Subsidy from Adult Campuses
Subsidy from
Overkead
Other (intercampus Agree & Univ Con9
Depreciation
Total Operating Expanses
Excess Revenue over Expense's
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing
~roeeeds
Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Item's
Net Cash Basis Budget
2000-01
Actual
.*---...
918,999
258.026
79,885
20,905
0
1 98
13,929
31 8,679
45,797
12,465
0
106,219
0
0
0
0
0
0
0
10,871
0
866,874
52,025
4,559
0
55,162
0
0
59,721
-7,686
2001 -02
Actual
--.-
956,385
325.969
102,540
22,539
0
0
1 1,730
355,263
55,355
9.143
0
131.912
0
0
0
0
0
0
0
0
31.639
1,046,090
-89,705
6,491
0
15,162
0
-31.639
-9,986
-79,719
2002-03
Budget
--.-
859,819
301,877
105,272
28,277
0
500
14,345
31 1,865
49.369
8,800
0
2,500
0
0
0
0
0
0
0
0
30,435
853,240
6,579
21,846
0
15,168
0
-30.435
6.579
0
2002-03
Actual
...-..
912,527
346.890
1 14,696
13,557
0
0
6,670
385,903
48,174
7,863
0
97,077
0
0
0
0
0
0
0
0
21,186
1,042.016
-1 29,489
0
0
15.171
0
-21,186
-6.015
-1 23,474
Change From
2002-03 Budget
to 2002-03 Actual
CIta'nge From
2(0014'2 Attozit
to 2B02-03 Actual
$ "h
saw- ..-
=43$?58 4'56%
Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition and Fees
Gifts
Lead Gifts
Grants
Endowment Income
Contracts
Realized Gains (Losses)
Unrealized Gains (Losses)
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Net Overhead for Central Operations
Operating Expenses
Instruction
Research
Public Service
Academic Support
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total E&G Expenses
Auxiliary Enterprises
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
University Wide
2002-03 Actual Expenditure Summary by Function
2000-01
Actual ------
70
0
70
0
0
123,194
-114,418
0
-237,777
620,736
238,964
630,769
0
553,336
1,184,105
617,131
-29,853
0
0
405,714
0
368,325
2,920,157
123,194
3,787,537
0
3,787,537
2001-02
Actual
0
0
0
150
0
82,258
-148.928
0
-649,475
-1,332,095
146,549
-1,901,541
0
725,944
-1,175,597
512,892
-39,982
0
0
324,095
0
1,054,496
234,857
82,258
1,655,724
1,655,724
-2,318,429
10,383
0
124,124
0
-234,857
-100,350
-2,218,079
2002-03
Budget ------
0
0
0
0
0
125,000
176,920
0
0
0
182,000
483,920
0
553,711
1,037,631
536,090
0
0
0
59,765
0
1,166,811
222,145
125,000
1,573,721
0
1,573,721
0
80,000
0
124,118
0
-222,145
-18,027
18,027
2002-03
Actual ------
Change From Change From
2002-03 Budget 2001-02 Actual
to 2002-03 Actual to 2002-03 Actual
$ % $ % .------- --.. ---. w-- ->——
University Wide
2002-03 Actual Expenditure Summary by Category
Revenues
Operating Expenses
Salaries &Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
Campus
Cmtingency,
Mandatory
Campus Program Contingency, Discretionary
Capital Reserve
Overheard
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other (Intercampus Agree & Univ Conf)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Items
Net Cash Basis Budget
200041
Actual
.—.
1,801,236
350.255
142,157
129,587
0
0
16,278
429.102
77,003
119,926
0
5,569
0
-50,000
-490,031
0
0
0
0
137,534
2,920,157
3,787,537
-1,986,301
24,987
0
84,124
0
-2,920,157
-2,811,046
824.745
2001-02
Actual
-..–…
-662,705
349,258
132,156
212,102
0
0
5,892
485,100
78,686
80,803
0
4,613
0
0
0
72,257
234,857
1,655,724
-2,318,429
10,383
0
124,124
0
-234,857
-100,350
-2,218,079
2002-03
Budget
..-.-.–
1,573,721
277,190
124,515
167,072
0
0
3,017
419,080
5,474
99,648
0
4,029
0
0
0
61,894
0
0
0
189,657
222,145
1,573,721
0
80,000
0
124,118
0
-222,145
-18,027
18,027
2002-03
Actual
-669,867
280,151
43,608
159,626
0
0
20.765
458,893
12,971
70,243
0
9,646
0
0
-525,000
181,185
222,140
934,228
-1,604,095
75,564
0
124,115
0
-222,140
-22,461
1,581,634
Change From
2002-03 Budget
to 2002-03 Actual
ANTIOCH UNIVERSITY
Chan e in Carryforward Funds
2002/03
Carryforward
–
Balance 6/30102
Unfunded
Funded
Total 6i30102
Adjustments
Unfundbd
Funded
Total Adjustments
Additions
Unfunded
Funded (Interest)
Total Additions
Uses
Unfunded
Funded
Total Uses
Balance 6i30103
Unfunded
Funded
Total 6/30/03
” Black Bequest
College New England Seattle
hD
Progra So Cal McGregor Central Total
– — – —
ANTIOCH UNIVERSITY
Change in Liquidity Reserves
2002103
ANTIOCH UNIVERSITY
Chan e in Depreciation Reserves
2002h3
Depreciation Reserves College New England Seattle PhD Proara So Cal Mffiregor Central Total
Balance 6/30/02
Unfunded
Funded
Total 6/30/02
Additions
Unfunded
Extra Capital Reserve
Funded
Total Additions
Uses
Unfunded
Funded
Total Uses
Balance 6/30/03
Unfunded
Funded
Total 6/30/03
Liquidity Reserves College New England Seattle nD Progra So Cal McGregor Central Total
— 4— — — —
Balance 6i30102 0 0 0 0 0 0 0 0
Unfunded 0 0 0 0 0 0 0 0
Funded 406,602 478.970 479,526 0 461.181 276.784 63.102 2.166.165
Total 6130103 406 602 478.970 479.526 0 461,181 276.784 63.102 2.166.165
0
.
2003-04 FIRST QUARTER PERFORMANCE
As a tuition-driven institution with nearly 75% of total revenue generated by Tuition & Fees, Antioeh’s financial stability
depends on enrollment. Attracting new students and insuring that those who have enrolled continue to matriculate is of
I major importance to the Presidents. They are concerned about enrollments not only because of the financial
ramifications, but also
because
of the purpose of Antioch is to communicate knowledge, technique and values. Without
, students, there is no purpose.
I
Comparing the net tuition for the first quarter of 2003-04 with the budget, the following table shows that the University is
more than half a million dollars behind its budget target. The College and New England are each significantly behind their
budget targets and the other campuses have not generated sufficient revenue to offset the shortfall. Each president has
discussed the enrollment situation at his or her campus in the following pages.
FIRST QUARTER NET TUITION AND FEE INCOME CHANGE
Budget-to-Actual and Prior Year Actual-to-Actual
Change from Change from
2003-04 Budget Percent 2002-03 Actual Percent
Anticrch
College
Glen Helen
New England
Seattle
Southern California
McGregor
University Ph.D.
TOTALS
– to 2’003-04 Actual Change
-456,522 -9.69%
to 2003-04 Actual ,-,–
-545,330
6,206
1 66,255
1 14,604
471,191
1 82,840
426,550
822,316
Focusing on the change in net tuition revenue from the first quarter of last year to the first quarter of this year, the above
table shows that the University as a whole has experienced a 4.7% increase. However, the $822,316 balance would be
‘ considerably greater were it not for the significant year-to-year shortfall at the College. Despite a significant increase in
tuition rates, the College is generating
-$545,330
less in the first quarter of 2003-04 than it did in the prior year. The
absolute decline in year-to-year Net Tuition revenue is due, almost entirely, to a near 25% increase in Tuition Discounts.
Gross Tuition & Fees at the College increased by 3.2% on a year-to-year basis.
Seattle, is slightly below budget for the first quarter, but performing better than it did a year ago and is showing a 6.2%
increase on a year-to-year basis. Southern California is close to budget and showing a 9.5% increase over the prior year,
while McGregor is well ahead of budget (up 15.4%) and running 25% ahead of last fiscal year. Although Still small in size,
the Ph. D. program has increased net tuition revenue by $426,550 (69.7%) and is demonstrating the attractiveness of its
program design through its retention of students.
The following table shows the expected first quarter growth in Net Tuition & Fee Income by campus from last year’s level
to this year’s budgeted level. We expected to see an overall 7.9% growth in Net Tuition & Fees, but as the previous table
showed, we were able to realize only 4.7% growth. The College had anticipated a
-1.9%
decrease in revenue from the
first quarter actual of last year to the first quarter actual of this year, but experienced a -1 1.4% decrease.
FIRST QUARTER NET TUITION AND FEE INCOME
2002-03 Actual to 2003-04 Budget
Antioch College
Glen Helen
New England
Seattle
Southern California
McGregor
University
Ph.D.
TOTALS
2002-03
Actual
4,798,520
23,183
4,681,932
1,846,744
4,958,119
733,224
61 1,700
1 7,653,422
2003-04
Budgeted
4,709,712
23,560
5,100,360
2,029,826
5,401,701
793,517
982,439
19,041,115
Change
-88,808
377
41 8,428
183,082
443,582
60,293
370,739
1,387,693
Percent
Change
-1.85%
1.63%
8.94%
9.91 %
8.95%
8.22%
60.61 %
7.86%
New England, and Seattle came up short of their Net Tuition Revenue targets for the first quarter, but Southern California,
McGregor and the Ph.D. program all surpassed their budgeted levels. Largely due to the shortfall in Net Tuition of
-$565,377,
University Wide Total Revenues for the quarter are below budget by -$369,615. Gifts i~c%%Yk is up $210,805,
but this is misleading because the College received a one-time unrestricted gift of property valued at $250r0’00. Grants
income is up $182,634 (15,8%) but Contracts are down -$96,736. Contracts at New England are below budget by
-$82,526
although they are down on a year-to-year basis by only $10,629. Endowment Income is
significantly
below
budget
(-$I
08,233),
but consistent for the pattern that has been in place for the prior two years. Unlike the pattern of the
prior two years, however, Realized and Unrealized gains and losses are up $764,537 from the first quarter budgeted level.
Auxiliary Enterprises revenue is down
-$46,957
(-2.6%),
but Released from Restrictions is below budget by -$619,128
(-34.1 %). If the Realized and Unrealized gains are removed from the first quarter actuals, the revenue shortfall would be
-$1,134,152.
FIRST QUARTER TOTAL CAMPUS OPERATING EXPENSES
Budget-to-Actual and Prior Year Actual-to-Actual
Change from Change from
2003-04 Budget 2002-03 Actual
to 2003-04 Actual to 2003-04 Actual
Afrtioch
College
New England
Seattle
Southern California
McGregor
University
Ph.D.
TOTALS
Total revenue is down -1 5% from budget, but if Realized and Unrealized Gains are removed, total revenue is down -4.5%
in the first quarter. For this same period, total operating expenses are down -7.7% (-$I ,490,811) but up by 12.4%
($1,956,667)
on
a year-to-year basis. As the table above shows, the campuses are spending at a slower rate than
authorized in their budgets, and in the first quarter they have spent -$I ,823,625 (-1 0.3%). However, on a year-to-year
IÂ
basis, the campuses are collectively spending at a rate that is 11.7% above last year. The College has reduced its
; spending by only -1.4%, the lowest relative reduction of any of the campuses, but its year-to-year spending has increased
. far less as a percentage and in absolute terms than any of the other campuses. Spending at the College is virtually flat
with the first quarter of 2002-03.
In trying to gain an overall impression of the financial status of the University in the first quarter, it is important to recognize
the significant impact that the stock market has on the financials. However, it is equally important to remove that factor
when trying to assess the relative health of University operations. Realized and Unrealized gains are not available for
expenditure to support operations and need to be discounted when analyzing the revenue picture. If this is done, revenue
is not coming up to budgeted levels because funds have not been Released from Restrictions and Tuition & Fee Income is
down, primarily at the College. New England is also looking at a significant Tuition & Fee shortfall In the first quarter.
For the University as a whole, all of the operating expense categories are below budget except Plant Maintenance,
Interest Expense, Resale Costs and Depreciation. Nonetheless, spending is increasing at a 12.4% rate ($1,956,668) over
‘ the first quarter of 2002-03.
The Tuition & Fee shortfall is troublesome for New England, but the campus has the flexibility to adjust expenditures and
has already taken action fo hold spending below the budgeted level. With perseverance, New England should be able to
balance its budget in 2003-04. The College, however, has a more serious structural problem with its Tuition & Fees. The
increased use of Tuition Discounts to fund student financial aid packages is threatening the viability of the College and
causing a year-to-year decrease in Net Tuition income. Spending reductions at the College will not have a sufficiently
large impact unless the entire budget is reexamined and restructured. Most of the non-personnel
categories
have been
significantly reduced in recent years and the amount of additional savings that can be realized in this area is quite small. It
may be necessary to make personnel reductions, but because of tenure, contractual commitments and union contract
provisions, it is difficult to realize short-term savings from personnel reductions. In addition, without restructuring
programs, removing individuals to save money can result in student dissatisfaction and the loss of more Tuition & Fee
income than will be saved by the position eliminations. Nonetheless, the College is facing a structural problem that has
existed for several years and will continue into the future unless actions are taken to redirect the campus’s cost structure.
Glenn Watts
Vice Chancellor and
Chief Financial Officer
Revenues
Tuition & Fees
Less Tuition Discounts
Net
Tuition
Gifts
Grants
Errdowmetlt
Ihcome
contracts
Realized Gains (Losses)
Unrealized Gains (Losses)
Other Income
Total
E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Net Overhead for Central Operations
Operating Expenses
Instruction
Research
Public
Service
Academic Support
Student Services
Ihstitutiorrai support
Plant Maintenance
Scholarships
Total E&G Expenses
Auxiliary
Efftapkes
Total operating Expenses
Excess ~evefwe over Expenses
Annual BLRJo@t C’orwersio’n to Cash BWiS
Capital Expen’difaires
Borrowing
Piti&edS
Principal Payments
Prior Year Reserves
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
Antioch University
September 30,2003 Actual Expenditure Summary by Function
Sept 30,2001
Actual
*–.—
18,716,657
-2,477,116
16,239,541
78,628
993,978
-35,888
198,796
-76,399
-903,381
356,322
16,851,597
1,574,494
555,661
18,981,752
598,111
4,636,205
0
761,57B
720,000
1,301,773
4,977,522
1,876,095
1,172,220
15,445,393
664,101
16,109,494
3,470,368
575,622
-142,234
421,553
0
-735,451
119,490
3,350,879
Sept 30,2002
Actual
–*4-
21,026,628
-3,373,206
17,653,422
102,516
896,369
-70,819
36,429
-983.393
498,739
349,916
17,485,701
1,638,246
795,936
19,919,883
534,527
5,517.987
0
684,002
744,357
1,493,460
3,639,422
1,932,256
1,189,641
15,201,125
641,097
15,842,222
4,612,188
585,815
-58.031
347,038
0
-741,273
133,549
4,478,639
Sept 30,2003
Budget
——
22,745,774
-3,704,659
19,041,115
127,731
1,155,220
103,626
120,870
0
0
309,934
20,858,496
1,780,892
1,814,371
24,453,759
716,571
6,660,572
252
958,253
1,640,010
1,681,245
4,452,052
1,915,987
1,234,885
18,543,256
746,444
19,289,700
5,880,630
661,741
-219,000
324,423
0
-726,456
40,708
5,839,922
Sept 30,2003
Actual
—-.-.
22,755,105
-4,279,367
18,475,738
338,536
1,337,854
-108,233
24.134
75,623
688,914
322,400
21,154,986
1,733.935
1
,I
95,243
24,084,144
716,571
5,941,806
0
742,803
1,448,481
1,623,801
4,098,860
2,002,052
1,193,215
17,051,018
747,871
17,798,889
7,001,826
869,596
-21 9,000
351,794
0
-748,957
253,433
6,748,393
Chan *From 2003-8~u’d~Gt Chair 6 From 200r~btual
to 2003-04 ~ctual to 2603 Actual
Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other (Intercampus Agree & Univ Conf)
Depreciation
‘b Total Operating Expenses
Excess Revenueover Expenses
Annual Budget Conversion to Cash Basis
Â¥
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Items
Net Cash Basis Budget
Antioch University
September 30,2003 Actual Expenditure Summary by Category
Sept 30,2001
Actual
-..-.—
19,579,863
6,764,835
2,063,400
358,745
935,345
26,970
317,330
1,462,476
1,000,326
382,105
156,394
12,053
757,155
0
492,448
1,312,003
-526,767
1
-187,125
46,349
735,451
16,109,494
3,470,369
575,622
-142,234
421,553
0
-735,451
11 9,490
3,350,879
Sept 30,2002
Actual
—–.–
20,454,409
6,869,907
2,253,482
490,823
993,987
55,375
401,734
1,866,459
1,013,094
335,592
132,030
93,876
0
0
0
684,526
0
0
-150,000
60,063
741,273
15,842,221
4,612,188
585,815
-58,031
347,038
0
-741,273
133,549
4,478,639
Sept 30,2003
Budget
…—
25,170,330
8,003,363
2,728,683
762,220
1,020,795
105,468
406,820
2,216,294
1,037,316
307,107
172,930
739,973
159,770
70,799
0
866,575
0
0
-150,000
115,131
726,456
19,289,700
5,880,630
661,741
-219,000
324,423
0
-726,456
40,708
5,839,922
Sept 30,2003
Actual
–..–.
24,800,715
7,504,071
2,657,954
509,074
1,001,348
91,498
270.669
1,919,355
1,088,523
315,277
241,171
648,602
0
1,204
0
866,570
0
0
-1 50,000
84,616
748,957
17,798,889
7,001,826
869,596
-219,000
351,794
0
-748,957
253,433
6,748,393
Change From Change From
2003-04 Budget 2002 Actual
to 2003-04 Actual to 2003 Actual
% %
ANTIOCH COLLEGE
2003-04 First Quarter Performance
, Introduction: The academic year has begun with some encouraging developments, and some evidence of continuing
budgetary challenges. The College suffered two significant blows to its administrative stability last
spring
when two crucial
. deans, the Dean of Students and the Dean of Admissions, unexpectedly vacated their positions in mid-term. Although the
Dean of Admissions gave us notice at the end of December and we immediately began a search for his successor, his
departure in
March-in
the midst of the college decision
season–left
a void that required junior staff to carry on without
normal leadership. We expected this problem to have consequences for fall 2003 enrollment. The Dean of Students
. gave virtually no notice of her departure, and left amidst turmoil in April. There was no time to begin a new search, and
instead an internal reorganization was announced in early summer to take care of student services. We expected that this
transition might result in
above-normal
levels of student attrition.
The real impact of these
challenges
was measured in late September, with mixed results. To our relief, we found that the
student numbers were almost level with last year–and with those projected in our
“no-growthn
budget projections for
2003-
04. But at the same time, our unfunded financial aid (tuition discounts) budget was significantly
overspent
in order to
bring in this
steady-state
class.
At this point, some degree of optimism about the future beyond the current year may be
justified by the presence of a
hard-working new team of deans, all of whom began work in August 2003. In fact we are already seeing changes in
student culture and morale due to the efforts of these new professionals. But even their best efforts cannot result in visible
or significant changes in the big picture factors (enrollment and retention) until fall 2004. Therefore, we must &view and
revise the current budget in order to live within our means during this coming year. This report will detail the enrollment
and financial picture, and indicate some new measures to be taken in order to assert control over current and future
budgets. Since the analysis of current needs is not complete, this revised budget is not yet ready, although we do have
some idea of the size of the current year’s problem: between $400,000 and $450,000.
0
Enrollment This fiscal year is the first in which we have had adequate time to apply the policy of meeting 100% of the
documented
financial
need of new students, coupled with a significant new array of merit awards, and to
determine
whether these changes can attract more students to Antioch College. In 2002-03, we applied this new,and risky policy,
but because the decision to go forward was not made until the spring, much of the recruiting season
had
already passed.
For 2003-04, we have been able to inform prospective students of our policy from the beginning of the recruiting season
and prepare financial aid packages that we believe are competitive. The results, so far, have not met the expectations
that motivated our adoption of this policy.
Enrollment has been steady, and the policy may have produced some changes in the demographic composition of the
student body, but the policy change has not generated the increases in revenue and student numbers that were predicted.
We suspect that the price elasticity that was suggested when this policy was recommended does not actually exist for
Ã
prospective Antioch students. What we know is that the new policy is costing the College far more than the previous
policy, and it has caused us to start the 2003-04 year with a revenue shortfall.
Our fiscal year starts with two thirds of the summer semester revenue, and by now we have the enrollment counts for the
Fall. The following tables show the number of students enrolled in Summer 2003 and Fall 2003 that we anticipated in the
budget, the number that actually appeared, and the variance:
2003-04 09/30/03
Budget Actual
Summer 2003
Study 187 147
CO-OP 233 282
Antioch AEA 9 7
Outside AEA 5 2
Total Summer 434 438
Over
(Under)
Budget
As you can see from the above table, the number of students enrolled for a study term during the summer was 40 fewer
than we expected when we assembled the budget. However, the number of students on co-op term was 49 more than
anticipated in the budget. The Antioch Education Abroad (AEA) program enrolled two fewer Antioch students than we
anticipated and three fewer students from outside of Antioch. However, for the summer as a whole, we had about four
students more than we had anticipated in the budget.
2003-04
Budget
Fall 2003
Study 391
Co-op
166
Acrtioch
AEA
21
Outside AEA 84
Total Fall 662
Total Year-to-Date
Study 578
Co-op 399
Acrtioch
AEA 30
Outside AEA 89
Total Summer/Fall2003 1096
09/30/03
Actual
41 1
140
25
77
653
558
422
32
79
1091
Over(Under)
Budget
This fall, 20 students more than expected in the budget enrolled in a study term, but 26 fewer enrolled in co-op. Four
more Antioch students enrolled in AEA in the fall than we had expected, but seven fewer came from outside of Antioch.
For the fall term, we are nine students down from the level anticipated in the budget. The last section of the above table
shows the
year-to-date
composite for summer and fall. Because we are 20 students below budget on the study term line,
we have less auxiliary revenue than we had expected. That is, fewer students living on campus means lower occupancy
in the dormitories and fewer meal plan purchases. As a result, auxiliary income for the quarter is down $68,540 (4.27%).
The quarterly Summary by Function for the College shows that Tuition & Fees for the quarter are up $11 1,966 (1.36%),
but that Net Tuition is down $456,522 (9.69%). The following table provides a closer look at the details of our Tuition &
Fee situation:
Undergrad Tuition
Miscellaneous Fees
Medical Fees
Community
Gov’t
Fee
Total Undergrad
AEA Tuition
AEA Travel Exp Fees
Total AEA
GRAND TOTAL TUITION &
FEES
Undergrad Discounts
Tuition Free
AEA Discounts
Total Discounts
Auxiliaries
Room Revenue
Board Revenue
Bookstore Revenue
Total Auxiliary
2003-04
Budget
09/30/03
Actual
Over(Under)
Budget
GRAND TOTAL SHORTFALL
> I I
1
,
As of the end of the first quarter, gross Undergraduate Tuition is ahead of budget by $143.,663 and When the,Various tees
and charges are included, Total Undergraduate Revenue is ahead of budget by $1 91,994.
For
the quarter, Wr enrollment
on campus and in co-op is slightly ahead of budget, but the Undergraduate Tuition shown in the table is:sornewhat
misleading. Exchange students who attend the College from Poland, Germany and Japan receive tuition waiv&f% as part
of the exchange agreements. However, they are recorded for accounting purposes as paying and then receiving the
waivers. For this reason, the Undergraduate Tuition is overstated. These students received $94,278 in waivers for the
first quarter shown as Tuition Free in the above table.
AEA Tuition is down and the corresponding AEA Travel Expense Fees are also down, for a total shortfall
of
$80,028.
When the AEA shortfall is combined with the Undergraduate overage, we show a gross Tuition & Fee total of $1 11,966,
the same figure shown in the quarterly schedule.
0
Undergraduate Discounts, however, significantly reverse the favorable pattern. During the first c&Iarte~, we awarded $3.5
million in Tuition Discounts, $428,084 more than we had planned in the 2003-04 budget. When combirretl with the Tuition
Free Discounts that are given to the exchange students ($94,278) and the AEA Discounts
($46,126),
our total discounts
exceed budget by $568,488. As a result, our Net Tuition is below the budgeted level by $456,522 (9,7%). The inclusion
@ of the shortfalls in Room & Board, partially offset by greater than anticipated Bookstore Revenue, leave us with a total
student-related revenue shortfall of $525,062.
When we developed the
2003-04
budget, we anticipated that we could give several students restricted scholarships
instead of granting them tuition waivers. As of the end of the first quarter, the Financial Aid Office has not completed
matching the qualifications of the first year students with the criteria of these scholarships. We believe that when this
process is completed, temporarily restricted scholarship revenue will offset at least $100,000 of Tuition Waivers.
Nonetheless, we are confronting a tuition shortfall of about $400,000 that must be addressed during
the
year.
Operating Revenues: Gifts revenue represents a bright spot on the first quarter revenue statement. Annual Fund
revenue was anticipated in the budget to be about $46,000, and that level has been achieved. In addition, the University
received an unrestricted gift of property valued at approximately $250,000, and it is this property that accounts for the
excess over budget during the first quarter. Grants Income, primarily work study and other financial aid, is ahead of
budget. Because these funds are recorded as they are used, and because we have a fixed annual
afloeation far Federal
I’ I
b
Work Study, a higher number on this line is not always a positive indicator. Rather, it can suggest that1financidl aid is
being used more rapidly than anticipated.
‘ Operating Expenses: Total Operating Expenses in the first quarter are $77,473 (1.38%) below budget and very close to
the level of the prior year. Salaries & Wages are 3% below budget, but Benefits offset the savings. Benefits are up 6.6%
as a result of higher medical and drug expense, as well as increases in the other benefit categories. With the exception of
v Student Aid Services, Plant Maintenance and Resale Costs, all of the Operating Expenses categories are below budget.
Resale Costs have increased at the Bookstore and were reflected in the higher Auxiliary revenue shown in the table
. above.
The first quarter accrual balance of nearly $1.6 million is more than $562,000 below the
budgeted
level. Because
expenses occur consistently throughout the year, but revenue peaks with the fall, spring and summer terms, it is important
for the College to have a large positive accrual balance at the end of the first quarter. In order to balance the budget for
2003-04, it will be necessary to reduce expenditures to a rate below those of the first quarter. This will require the
implementation of special spending restrictions.
Remedial Responses: In order to increase our confidence in and control of the budget for the current year, we will
reopen the process and completely rework the 2003-04 budget in light of current realities. A similar process was
undertaken in February 2003 and resulted in helpful savings in last year’s budget. But this year the process will be earlier,
more intensive and sweep with a wider net than what we did last winter. We will also take extraordinary measures to
monitor compliance (although, to be fair, we have not discovered that willful non-compliance was a significant factor in last
4
à year’s budget overages).
Additional Corrective Measures: In order to insure that we do not have a repeat of the deficit in
2003-04,
the College is
in the process of adopting the following procedures:
> Authorization to Hire. Every individual who is currently authorized to initiate the hiring process must complete an
Authorization to Hire form and each search must be approved prior to any posting or advertising of faculty, staff,
union, NUNS, or student positions. The form requires that the funding source for new positions be identified and
this information is verified against the budget before approval is given. If there is not sufficient funding in the budget
for the position, authorization to recruit will not be given without a corresponding decrease in some other budget
line.
> Elimination-of UnbudqetedOvertime. Overtime that is not budgeted creates a salary eteffeit. Beginning this fall, if
@ overtime is authorized and paid, an immediate budget adjustment will be necessary to transfer f’u’nds from some
other line. A separate budget line will be established for overtime and in the
futulre, units that anticipate the need
for overtime will be required to budget an adequate amount for the year.
> Adjustmerrts for Salary, Chanqes. Any salary or fringe adjustments after the start of the fiscal year that increase
expenses will require an offsetting budget adjustment. For example, if an individual assumes major new duties and
is given a title and salary adjustment, the Human Resource staff will check to insure
that Were is sufficient funding
b available in the budget. In most cases, a budget transfer will be needed to cover trie additional expense. In the
case of fringe benefit changes, such as when an individual goes from having single zmverage medical insurance to
family insurance, a
budget
increase will be required to cover the increased cost. All changes made during the open
enrollment period and all changes that occur as a result of changed circumstances will require adjusting budget
entries.
> TuitiovLWaivers. The Financial Aid Office must establish procedures that will insure that the ratio of tuition waivers
to tuition collected does not vary from the ratio present in the budget. That is,
additiofW
tuition waivers are
permitted provided that larger numbers of students enroll and pay a larger amount of toition. As long as the ratio of
waivers to tuition dollars is in line with the budget, we will not have a problem. However, in the event that more
tuition waivers are granted than were anticipated in the budget, the Financial Aid Office fi7ust take immediate steps
to reduce the cost of waivers in the spring and summer terms.
b
> Controlof Communitv Gove.rnment. In our projections last year, we anticipated that Community Government (GG)
I would, as usual, underspend their budget and leave a balance available to help offset the College’s deficit.
However, CG finished the year 2002-03 with its own deficit of $43,866. (The full ammint of this past deficit has
been deducted from the current year’s CG budget.) Excessive spending by Community Government and poor
9
financial practices last year, especially in the C-Shop, have required that we appoint an advisor to closely monitor
activities, and to ensure that CG complies with generally accepted accounting practices and procedures. The CG
Budget Manager is required to receive more training, and to reconcile the current budget monthly with the advisor, a
member of the Business Office staff. Cash handling is particularly important and all financial transactions Will pass
through the College’s financial and purchasing systems. In the event that College procedures are not followed, any
operation of CG that is noncompliant will be suspended until its procedures come into compliance. This is essential
to protect the College and to avoid fraud. Operation of the C-Shop will also be suspended if It is not in compliance
with local health codes.
I
. None of these measures will solve our long-term problems. The largest single source of budgetary imbalance at our
current enrollment level is the increased use of tuition waivers to meet student financial need. The policy that was
adopted two years ago is absorbing all of the additional tuition revenue without promising to yield significant increases in
enrollment. In 2002-03, gross tuition and fee revenue increased by 6.2% over the prior year, but net tuition and fee
income decreased by 7.5% as tuition discounts grew by $1,560,251. New methods must be found to meet student
financial need, and better allocation methods must be developed. The new Dean of Admissions and Financial Aid,
Michael Thorp, an experienced admissions professional, is in agreement with the need to revise our financial aid
packaging guidelines and will lead this effort to keep financial aid spending within our means.
Joan Straumanis
President
Antioch College
September 30,2003 Actual Expenditure Summary by Function
I Change Frfm
2002 ACtnal
to 2003 Actual
$ %
*-*em
Change from
200344 Budget
to 2003-04 Actual
$ %
Sept 30,2001 Sept 30,2002 Sept 30,2003 Sept 30,2003
Actual Actual Budget Actual
.-.—.. .-a- -…… – -.—
Revenues
Tuition & Fees
Less Tuition
DiW3unts
Net
Tuition
Gifts
Grants
Endowment Income
Contracts
Realized Gains (Losses)
Unrealized Gains (Losses)
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Operating Exrpenses
Instruction
Research
Public Service
Academic Support
Student Services
Institutional Support
Plant Maintenance
Scholarship’s
Total E&G Expenses
Auxiliary Enterprises
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Gash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
Antioch College
September 30,2003 Actual Expenditure Summary by Category
Change From Change From
2003-04 Budget 2002 Actual
to 2003-04 Actual to 2063 Actual
$ % $, %
.-.. “… –*.— -.—*.*. .a*.-..-
-639,532 -8.24% -361,992 -4,84%
Sept 30,2001 Sept 30,2002 Sept 30,2003 Sept 30,2003
Actual Actual Budget Actual
-..-.–. –… -.- .-..-.- ..—-..
7,338,643 7,482,153 7,759,693 7,120,161 Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Develo’pmsnt
Student
Aid Services
Special
Events
Supplies
Business
Operations
Plant Maintenance
Interest Expense
Resale Cost’s
Miscellaneous
Contingency/Reserves
Campus Contingency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other (Intercampus Agree & Univ Coni
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Items
Net Cash Basis Budget
GLEN HELEN ECOLOGY INSTITUTE
2003-04 First Quarter Performance
Revenues: Total revenue for the quarter ending was $133,463, $17,870 above budget and $14,@3% mote than for the
! same period last year. Gifts revenue was $10,614, which is $1,800 below budget. Tuition and Fees (generated through
programming at the Institute’s Outdoor Education Center) are ahead of budget by $5,829. The sdwol schedule is full and
barring any cancellations, this should be a positive year for the Outdoor Education Center.
Although revenue for the quarter is ahead of budget, the Institute remains concerned about the future of overall individual
giving for the year. The Glen’s major annual funding campaign – The Morgan Society – will begin in October 2003.
Expenses: Operating expenses were favorable to budget by $1,655. Lower than budgeted Business Operations
expense had a favorable variance of $1 2,904. Continued deterioration of the Glen’s physical facilities and the
construction of a boardwalk to reduce trail erosion and protect an adjacent wetland resulted in a wative Plant
Maintenance variance of $7,358. Plant maintenance needs are expected to remain higher than budget through the fall
and winter. Staff overtime related to the maintenance of the physical facilities resulted in a negative variance
for
Salaries
and Wages of $2,198.
‘ Actual Revenue over Expenses (Net Total) for the year to date is -$43,862 (up from -$41,107 for the same p’efi’od in 2002-
03). This is greater than expected and budgeted for in the first quarter by $19,525. The start of th-e m-rnual empaign
should result in a year-to-date favorable balance for the second quarter.
Budget Planning: Budget planning is now underway for Fiscal Year 2004-05. The Institute is anticipating a bUdget
shortfall of $1 00,000 (assuming no major donations or additional revenue streams). Tentative plans wffl include
operational
cirts
and consolidation of some positions.
To balance its budget, the Institute has historically relied upon the fundraising activities of its De-vatopment Committee,
periodic but unexpected large donations, half-time salary support for its lone maintenances slaff person by the College,
and a small annual contribution from the GHA (with occasional larger donations to help offset
budget
deficits). The only
steady revenue stream comes from program fees received through the Institute’s Outdoor Education Center. This type of
revenue must be extended to the whole of the Institute. To develop such a revenue fee system will take several years. In
addition, an active grant writing program must be developed to help operate programs and direct funds to operations.
Such revenue producing programs will enhance the current development efforts and provide a balanced funding approach
by the Institute.
Short-termllmmediate Actions:
1. Business plan development.
2. Strategic plan development (using consultant’s outline as foundation for plan).
3. Develop more specific fundraising activities and annual funding plan.
4. Organizational restructuring and consolidation.
5. Creation of distinct “revenue exploring” committees (this is a long-term effort, but needs to be done as soon as +
a possible) – for example:
– academic based programs
– alternative OEClEducation based programs
– enhanced facility use (e.g., retreats, workshops, business meetings) – to entail revised facility plan
development with focus on revenue generating programs and activities
Comprehensive Actions:
9 1. Begin to develop a comprehensive advance planning process – this is critical to the success of the Institute. This
process has begun, but must be accelerated with a particular emphasis on the Institute’s funding needs.
2. As we seek to enhance Institute funding and develop appropriate plans, the following should be kept in mind:
– Capital budgeting – it is essential to budget for capital improvements (directly related to the strategic planning
process).
– 3-5 year budget forecast – long-term budget planning. By planning for the long-term the necessary revenue
streams may be identified.
– Grants and Contracts – seek grants to support operations directly or indirectly, but understand that
, grantsldonations aren’t the primary solution to funding concerns
– Develop cost recovery policies – part of business plan development. This will include determining the full cost
of providing all services and programs. Which programs can legitimately recover costs? We must be careful
to appropriately allocate subsidized services vs. income-producing uses.
– Seek to develop operating reserve (cover 3-6 months of operating expenses withoiilf additional revenue).
– Funding Sources – seek to develop a variety of funding sources. Emphasis may be placed on the annual
campaign -the Institute must provide direct community leadership for the Glen seek to build a sense of
community. Board members may directly engage in such activities and seek to introduce the community to
the Glen’s activities, services and benefits provided. The annual campaign will
establish
relationships that
may develop into potential major donations.
– Grants, donations and gifts should all be part of development efforts. While it is appropriate for the
development committee to focus solely on fundraising, it shouldn’t be the basic operational in6ome for the
Institute.
Robert S. Whyte
Executive Director
Revenues
Tuition & Fees v Less Tuition Discounts
Net Tuition
Gifts
Grants
Endowment Income
Contracts
Realized Gains (Losses)
Unrealized Gains (Losses)
Other Income
Total E&G Revenue
Auxiliary Enterprises
v Released From Restrictions
Total Revenues
Operating Expenses
Instruction
Research I
Public Service
Academic Support
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total
E&G
Expenses
Auxiliary Enterprises
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
Glen Helen
September 30, 2003 Actual Expenditure Summary by Function
Sept 30,2001
Actual
.-.—–
32,081
0
32,081
7,213
0
10,500
1,962
0
0
0
51,756
60,885
118,314
230,955
0
0
157,785
0
0
0
0
0
157,785
0
157,785
73,170
108,584
0
0
0
0
108,584
-35,414
Sept 30,2002
Actual
.–..—
23,183
0
23,183
5,576
0
10,500
3,023
0
0
0
42,282
47,328
28,917
118,527
0
0
155,393
0
0
0
4,241
0
159,634
0
159,634
-41,107
4,865
0
0
0
-4,241
624
-41,731
Sept 30,2003
Budget
—-.-.-
23,560
0
23,560
12,414
1,875
10,500
1,626
0
0
51
50,026
47,650
17,917
11 5,593
0
0
173,556
0
0
0
5,424
0
178,980
0
178,980
-63,387
11,350
0
0
0
-5,424
5,926
-69,313
Sept 30,2003
Actual
—-.-..
29,389
0
29,389
10,614
6,758
10,500
659
0
0
10
57,930
57,413
18,120
133,463
0
0
172,479
0
0
0
4,846
0
177,325
0
177,325
-43,862
7,632
0
0
0
-4,846
2,786
-46,648
Change From
2003-04 Budget
to 2003-04 Actual
Change From
2002 Actual
to 2003 ~ctbal
$ Yo
6- —-.-.-
I
6,206 26.77%
0
6,206 26.77%
5,038
90’35%
6,758
0 0.00%
-2,364 -78.20%
0
0
10
15,648 37.01 %
10,085 21.31 %
-10,797 -37.34%
14,936 12.60%
Glen Helen
September 30,2003 Actual Expenditure Summary by Category
Operating Expense’s
Salaries &Wages
Benefits
Training & Development
o Student Aid Services
special vents
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyiReserves
Campus Contingency, Mandatory
Campus Prbgram Oonlingency, Discretionary
Liquidity Reserve
Overhead
To the
University
Rebates
from
the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other (Intercampus Agree & Univ Con9
i Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Q Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Items
I Net Cash Basis Budget
Sept 30,2001 Sept 30,2002 Sept 30,2003 Sept 30,2003
Actual Actual Budget Actual
—-a. .-.-.- .——- .-.–…
230,955 118,527 115,593 133,463
Change From
2003-04 Budget
to 2003-04 Actual
$ %
ANTIOCH NEW ENGLAND GRADUATE SCHOOL
2003-04 First Quarter Performance
1,
The first quarter of 2003-04 has begun at Antioch New England Graduate School with a significant enrollment shortfall that
will create a shortfall in annual revenue of roughly $300,000. Add to this a division of summer enrollment revenue that
effectively moved $95,000 of expected revenue for 2004 back into 2002-03, and we have a clear need to trim expenses
and to extract some important lessons from these surprises.
Total enrollment for fall term was expected at 275, while actually enrollment was 237, including five certificate students
who pay half tuition.
The cost-cutting efforts are underway, and straightforward. In addition, we have a few significant sources of additional
revenue for the year, including a one-time gain of between $100,000 and $200,000 from an intellectual property sale in the
UK.
The most important observation about our enrollment shortfall that we have made is that our nationally-driven programs
have actually done quite well in enrollment this year, while our locally-driven programs have done very poorly so far. This
is a significant observation for our institutional planning.
To date, our expenses have been below budget to balance out the shortfall we picked up for the summer term; we expect
the fall term enrollment shortfall to create a shortfall that will reach balance as the year unfolds.
Peter S, Temes
President
Antioch New England Graduate School
September 30,2003 Actual Expenditure Summary by Function
Revalues
Tuition & FeES
Less Tuiti&Ti Discounts
Net Tuition
Gifts
Grants
Endowment
Insoffie
Contracts
Realized
Gaitis
(Losses)
Unrealized
Gains (Losses)
Other Income
Total
E&G
Revenue
Auxiliary Enterprises
Released From ResttictiiSrts
Total Revenues
Operating Expenses
Instruction
Research
Public Service
Academic Sum
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total E&G Expenses
Auxiliary Enterprises
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year
Reserves
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
Sept 30,2OT1
Actual
*—.–
4,382,265
-1,910
4,360,355
1,490
219,874
25,000
124,985
0
0
60,232
4,791,936
0
277,850
5,069,786
1,115,840
0
293,805
116,702
154,638
984,952
151,883
71,739
2,889,559
0
2,889,559
2,180.227
196,287
0
8,335
0
0
204,622
1,975,605
Sept 30,2002
Actual
-.a-
4,683.612
-1,680
4,681,932
11,999
214,458
0
32,596
0
0
19,063
4,960,048
80
97,144
5,057,272
1,152,748
0
214,436
167,248
157,931
696,862
272,998
80,614
2,744,837
0
2,744,837
2,312,435
132,894
0
13,325
0
-1 17,766
28,453
2,283,982
Sept 30,2003
Budget
–..—
5,199,360
-99,000
5,100,360
0
375,762
0
104,493
0
0
59,387
5,640,002
0
192,473
5,832,475
1,504,036
0
415,384
258,938
190,106
850,592
305,015
106,125
3,630,196
0
3,630,196
2,202,279
165,285
0
0
0
-1 18,527
46,758
2,155,521
Sept 30,2003
Actual
—…-
4,939,775
-91,588
4,848,187
11,445
532,040
0
21,987
0
0
38,069
5,451,708
758
68,733
5,521,199
1,188,657
0
238,835
191,740
I 67, i’&8
764,775
297,909
68,299
2,918,003
0
2,918,003
2,603,196
146,677
0
11,364
0
-1 19,347
38,694
2,564,502
Change From Change ~rom
2003-04 Budget 2002 Actual
to 2003-04 Actual to 2005 Actual
Revenues
Operating Expanses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other (Intercampus Agree
&
Univ
Conf)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing f roceeds
Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Items
Net Cash Basis Budget
Antioch New England Graduate School
September 30,2003 Actual Expenditure Summary by Category
Sept 30,2001 Sept 30,2002
Actual
–.-..-.
5,069,786
1,249,758
414,759
129,530
29,448
78
38,325
333,837
85,569
101,451
0
2,029
176,150
0
110,094
302,758
-1 14,497
13,550
0
16,720
0
2,889,559
2,180,227
196,287
0
8,335
0
0
204,622
1,975,605
Actual
.—b-.-
5,057,272
1,293,906
490,573
85,628
54,845
806
27,161
277,077
95,474
101,453
0
5,141
0
0
0
185,831
0
0
0
9,176
1 17,766
2,744,837
2,312,435
132,894
0
13,325
0
-1 17,766
28,453
2,283.982
Sept 30,2003
Budget
–.–.-
5,832,475
1,564,996
554,516
139,994
69,726
4,111
66,063
442,570
98,465
100,964
0
30,149
95,156
27,600
0
231,969
0
0
0
85,390
1 18,527
3,630,196
2,202,279
165,285
0
0
0
-1 18,527
46,758
2,155,521
Sept 30,2003
Actual
-..–..-
5,521 ,I 99
1,351,938
546,031
82,816
45,141
96
38,044
272,797
88,174
106,410
0
4,781
0
0
0
231,967
0
0
0
30,461
119,347
2,918,003
2,603,196
146,677
0
11,364
0
-1 19,347
38,694
2,564,502
Change From Change From
2003-04 Budget 2002 Actual
to 2003-04 Actual to 2003 Actual
Ã
ANTIOCH SEATTLE
2003-04 First Quarter Performance
GENERAL
Revenues and expenses are below budget for the First Quarter. The difference between revenue and expense is
nearly $200,000 higher, on the positive side, than forecasted for this period. The revenue deficit is much lower
than what AUS experienced at this time last year and Fall enrollments look better than they did at this time last
year. So, while we are still being cautious with our spending and making a strong push on Fall enrollment, our
i
financial situation and enrollment for Fall looks positive.
REVENUES
Total revenues for the first quarter 2003-04 are $731,545 higher than for the first qua~rter 2002-03. However, over
80% of this is attributable to reimbursements from the Gates Grant Early College Ptngtam for substantial,
comparable expenditures that AUS made on their behalf to fund the various site programs. Gates Grant
expenditures ramp up for one more year and then will taper off as the number of participating schools gets lower
due to the first participants completing their three year funding. The remaining
difference
is that
revenue
from
enrollments for the Summer Quarter were 6% higher than for the Summer last year.
4
In terms of budget, total revenues are about $130,000 below budget primarily because of tuition revenue
shortfalls in selected programs and delayed grant expenditures. The tuition revenue shortfall (amounting to a net
of $68,478) occurred in the BA Completion and Creative Change programs. The summer forecasts for BA were
conservative, yet we were unable to achieve the budget target. We are addressing these issues including
increasing promotion for the Fall Quarter. The preliminary application information for fall shows that we are close
to target for new enrollments, but we realize that we will need to make up for the summer shortfall. In Creative
Change, the summer enrollments may have been affected by the commencement of the redesigned Center
program in the fall with new students delaying registration and continuing students holding off so that they could
transfer into the new program. As with the BA program, the fall new student numbers for the redesigned program
are positive at this point.
The other two major centers, Psychology and Education, achieved their budgeted summer enrollment targets
overall.
In the grant programs, the shortfall ($1 6,810) was attributable to a corresponding reduction in reimbursable
expenditures, especially in the Kellogg grant. The grant managers have been reducing discretionary expenditures
in anticipation of the renewal of the Kellogg grant for this fiscal year, which has been delayed.
EXPENSES
On the expense side of the Function Report, most of the variance in the Instructional area resulted from salary
savings from authorized positions that were in the process of being filled. In Academic Support, most of the
variance was related to delayed spending in the grant programs as described above. Expenditures in Student
Services, which includes advertising and printing connected with the marketing program, were much lower than
anticipated in the early summer months. These promotional expenditures have been increasing as AUS
promotes Fall enrollments. First Quarter expenditures in Institutional Support were lower than expected across
the board. Utility billing cycles accounted for the decrease in anticipated Plant Maintenance expenditures.
In terms of the Category Report, the approximately $95,000 variance in the salary and benefits categories results
from salary savings from unfilled positions. The variance in Training and Development is due to unexpended
discretionary expenses, primarily in business travel, program development, and professional development. The
variance in Business Operations has a number of causes, but this category also includes under-spending in the
grant programs and promotional expenses discussed above as well as the general trend of holding back on
spending over the summer until we know how fall enrollments come out. The Miscellaneous category also
includes unexpended grant program budget. Miscellaneous also includes grant overhead funds which are treated
Q as additional reserves until we know we have met our enrollment targets.
Toni
Murdock
President
Revenues
Tuition & Pees
Less Tuition Discounts
Net
TuitioTi
Gifts
Grams
EntlWMt In’cWte
Conmas
Reateed
Gain’s (Losses)
UhrealiEd Gains (Losses)
Other
Income
Total E&G Revemwe
Auxiliary Enterprises
Released Pram Restrictions
Total ReVen¥HB
Opirafing Expens-es
Instruetian
Resezrth
Public
Service
Aca-demic Smart
Student Services
Institutional Support
Plant Maintenan’ce
Scholarships
Total E&G Expenses
Auxiliary Enterprises
Total Operating Expense’s
Excess Revenue over Expenses
Annual
Budget
Conversion to
Cash
Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Pri6r
Year
R’e’serves
Add back
Depreciation
Total Cash
Items
Net Cash Basis Budget
Antioch Seattle
September 30, 2003 Actual Expenditure Summary by Function
Sept 30,2001 Sept 30,2002
Actual
.b.—
1,852,671
-35,731
1,816,940
2,529
28,579
25,000
0
0
0
79,171
1,952,219
58,288
395
2,01
0,902
974.1 f7
0
232
91,293
205,682
812,066
21 1,341
28,579
2,323,310
79,047
2,402,357
-391,455
86.368
0
0
0
0
86,368
-477.823
Actual
—-
1,890.557
-43,813
1,846,744
1,062
33,040
0
0
0
0
105.964
1,986,810
58,132
62,371
2,107,313
953,333
0
61 8
166,234
196,667
592,540
335,871
37,783
2,283,046
44,788
2,327,834
-220,521
42,051
0
0
0
-116,510
-74,459
-146,062
sept 30,2003
Budget
—-.-
2,053,226
-23,400
2,029,826
7,500
52,476
0
0
0
0
92,513
2,182,315
69,751
715,712
2,967,778
1,128,011
0
504
855,958
235,225
686,847
374,594
57,092
3,338,231
69,309
3,407,540
-439,762
165,656
0
0
0
-1 14,069
51,587
-491,349
Sept 30,2003
Actual
–..-.-
1,987,848
-26,500
1,961,348
1,991
35,666
0
0
0
0
110,112
2,109,117
76,918
652,823
2,838,858
1,047,299
0
49
787,458
188,136
631,916
337,805
35,617
3,028,280
78,728
3,107,008
-268,150
166,076
0
0
0
-1 16,287
49,789
-31 7.939
I
Change From Change From
2003-04 Budget 2002 Actual
to 2003-04 Actual to 2003 ACtual
% $ % ‘
.-=– -as+ .-*a*-..
Antioch Seattle
September 30,2003 Actual Expenditure Summary by Category
Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy
from
Overhead
Other (Intercampus Agree & Univ Conf)
Depreciation
6 Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
> Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Items
Net Cash Basis Budget
Sept 30,2001
Actual
-..-.-..
2,010,902
1,209,086
294,049
24,279
12,086
2,349
23,704
118,813
64,876
145,791
59,124
1,286
153,796
0
11 5,347
264,339
-99,969
13,401
0
0
0
2,402,357
-391,455
86,368
0
0
0
0
86,368
-477,823
Sept 30,2002
Actual
–….–
2,107,313
1,224,603
306,366
38,893
13,123
9,339
37,607
130,682
76,092
146,014
26,946
4,465
0
0
0
184,765
0
0
0
12,429
116,510
2,327,834
-220,521
42,051
0
0
0
-116,510
-74,459
-146,062
Sept 30,2003
Budget
—.-.-.
2,967,778
1,438,349
383,387
65,839
15,128
5,276
29,071
172,316
114,052
141,801
44,004
633,077
0
0
0
236,538
0
0
0
14,633
114,069
3,407,540
-439,762
165,656
0
0
0
-1 14,069
51,587
-491,349
Sept 30,2003
Actual
-.-..-.-
2,838,858
1,373,335
353,888
37,397
12,445
8,798
21,720
92,522
74,333
142,788
54,884
559,948
0
0
0
236,537
0
0
0
22,126
116,287
3,107,008
-268,150
166,076
0
0
0
-1 16,287
49,789
-317,939
Change From Change From , ,
2003-04 Budget 2002 Actual
to 2003-04 Actual to 2003 Actual
ANTIOCH SOUTHERN CALIFORNIA
2003-04 First Quarter Performance
The first Quarter has been busy with my arrival to take over the leadership of the two campuses. We have been occupied
‘ in discussions with Travers (our realtors) and the landlord of a potential site for our Los Angeles relocation and the
moment of decision seems close at hand. The Santa Barbara campus has concluded a review of the
organizational
structure and we will be engaged in discussion of the recommendations with a view to moving forward to selective
, implementation.
Operati nq Reve h ues
Summer enrollments came in exactly on target overall, with a shortfall of 15 FTUE at SB made up by higher than projected
enrollment of 16 at LA.. Fall enrollments are soft and we have a tuition revenue shortfall of about $1 00,000 to the end of
September. Special measures were taken by the Academic Deans at the two campuses resulting in larger enrollments in
the MAP program. The BA program has a significant drop at both campuses and one wonders if this is a temporary
aberration or a secular trend. We are analyzing available information and waiting for the completion of late registration to
have a fix on enrollments through the rest of the year. We will make budget adjustments if the enrollment picture
continues to be poor. That fe Hobson’s choice in a totally tuition-dependent institution!
‘ Operatinq Expenses
We have savings in salary accounts due to a few remaining vacancies, but expect to fill afl positions in the Fall. (We have
, advertised for a Development Director).
The savings in Training & Development are on account of timing; program development, professional development and
travel funds have not been spent as projected.
Business operation lines also show savings due to legal, advertising, consulting and purchased services lines being under-
spent at this stage.
Overall, we expect to come in on target with operating expenses at year-end.
I
LucyAnn Geiselman
President i
Revenues
Tuition & Fees
Less Tuition Discounts
Net
Tuition
Qffts
Grants
Endowment income
Contracts
Realized Gains (Losses)
Unrealized Gain’s (Losses)
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released
From
Restrictions
Total Revenues
Operating Expenses
Instruction
Research
Public Service
Academic Suppwil
Stiident Services
Institutional
Suppart
Plant
Mairften’ance
Scholarships
Total E&G Expense’s
Auxifiary
Enterprises
Total Operating Expenses
Excess Revenue over Expanse’s
Annual Budget Conversion to Cash
Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Depreciation
Total Cash Items
Net Cash
Basis
Budget
Antioch Southern California
September 30,2003 Actual Expenditure Summary by Function
Sept 30,2001
Actual
.-.*–.-
4,364,055
-49,614
4,314,441
550
27,992
25,000
0
0
0
6,300
4,374,283
56,352
28,029
4,458,664
895,753
0
37,764
179,067
302,084
904,373
409,784
30,459
2,759,284
23,856
2,783,140
1,675,524
26,231
0
1,731
0
0
27,962
1,647,562
Sept 30,2002 Sept 30,2003
Actual
-+.—
4,974,436
-16,317
4,958,119
1,297
31,579
0
0
0
0
19,553
5,010,548
40,130
2,147
5,052,825
943,747
0
43,701
140,714
240,271
677,866
439,968
35,706
2,521,973
38,249
2,560,222
2,492,603
0
0
7,524
0
-31,851
-24,327
2,516,930
Budget
-..*–.-
5,435,935
-34,234
5,401,701
5,751
65,961
0
0
0
0
5,018
5,478,431
51.01 1
42,908
5,572,350
1,213,934
0
57,567
213,431
329,230
859,354
446,309
45,186
3,165,011
65,171
3,230,182
2,342,168
0
0
0
0
-31,191
-31,191
2,373,359
Sept 30,2003
Actual
—–.-.
5,448,610
-19,500
5,429’31 0
90
76,451
0
0
0
0
6,924
5,512,775
56,266
1,214
5,570,255
1,052,909
0
47,106
178,705
360,998
683,935
544,201
49,766
2,917,620
45,581
2,963,201
2,607,054
21,987
0
9,093
0
-45,495
-14,405
2,621,459
Change From Change Frwft
2003-04 Budget 2002 AetffijI
to 2003-04 Actual tb 2003 Actual
% $ %
Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
@ Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other (Intercampus Agree & Univ Conf)
9 Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Items
Net Cash Basis Budget
c
Antioch Southern California
September 30,2003 Actual Expenditure Summary by Category
Change From
2003-04 Budget
Sept 30,2001 Sept 30,2002 Sept 30,2003 Sept 30,2003 to 2003-04 Actual
Actual Actual Budget Actual $ %
.-….-. —–.-. .-.—.- —-..me .—..-. –..–..
4,458,664 5,052,825 5,572,350 5,570,255 -2,095 -0.04%
, Change From)
2002 Actual 1
to 2003 Actual
$ %
–..,.*. .–.—-
51 7,430 10.24%
ANTIOCH UNIVERSITY McGREGOR
2003-04 First Quarter Performance
This report will provide an overview of the first quarter of the fiscal year at McGregor. We are pleased that the enrollment
stabilization and growth is continuing. Keep in mind the full financial picture may not be reflected in the accompanying
schedules as our fall enrollment period is just ending.
REVENUE
Antioch University McGregor enjoyed another very positive summer, setting the tone for the year. We realized over
$100,000 in unbudgeted revenue during the summer term. Our Educational Leadership Seminar Series (professional
development education for teachers) outperformed revenue projections by $16,700. The Weekend College was 23 FTE
over budget projections, generating an additional $64,000. This is an important figure, as only a few years ago, some
believed our downward spiral in that program should force its closure. Our graduate programs added another
$20,000+.
In addition to strong recruitment, we have noted that our undergraduate students are registering for a larger academic load
than in previous years. Part of this is due to the large number of credits required by our Liberal Arts major, as well as the
fact that fewer students took the summer off, and finally, there seems to be a trend in “fast tracking” to completion across
all majors.
Fall Quarter 2003 = We faced a unique challenge this year as over 250 students graduated in 2002-03. This was the
largest graduating class in
Antioch
MeGregor
history. Because of the diminishing number of continuing students, we set a
high bar for fall new student recruitment. To further challenge us, one of our (four) enrollment officers fell victim
to
an
extended illness during the height of fail recruitment. The institution set a goal of 252 FTEIstudents for fall quarter. While
missing one recruiter,
Antioch
MeGregor
brought in over 270
FTEIstudents.
The overage is reflected entirely ih our
education offerings as we added one cohort of 25 students to Early Childhood Education and increased our cohort sizes in
Middle Childhood and Adolescenfloung Adult licensure.
After the end of
add/drop,
we anticipate that we will have $1 50,000 in revenue over budget in fall quarter 2003-
: Fall quarter new students by academic program:
35 – Weekend College
20 – Individualized Liberal & Professional Studies
21 – Conflict Resolution
30 – Graduate Management
48 – M.Ed. in Educational Leadership I
50 – M.Ed. in Early Childhood Education
25 – M.Ed. in Intervention Specialist (Special Ed)
20 – M.Ed. in Middle Childhood Education
26 – Adolescent/Young Adult Teacher Licensure
A very important issue – our programs are two years. That means we have a lot of pressure on limited staff to constantly
peruse the environment and turn around enrollments regularly.
Continuing Education – Not reflected in revenue projections in this fiscal year is a new partnership with The Connecting
Link (www.connectinqlink.com), an educational training company that provides high quality, graduate level, continuing
education. Antioch McGregor was approached to be their sole partner in Ohio after being recommended by
the
Ohio
Board of Regents as a quality graduate education provider. Courses are provided across the state and on-line and are
being offered fall and winter quarters. We do not know what this will generate, but our expenses are limited to internal
overhead related to electronic curriculum management and data entry. The Connecting Link handles
atll
marketing,
faculty, materials and related expenses.
Special Projects and Updates
Antioch University McGregor will be profiled in Pat Summerall’s program entitled Champions of Industry, Spotlight on
Education. The segment will air on The Discovery Channel Network, October 21 at 7:00arn Eastern and Pacific. The
show was taped this summer at
McGregor’s
Classroom 2005 at the Entrepreneurs in Dayton and on the main campus in
Yellow Springs. The show documents Antioch’s history of innovation in higher education, from Horace Mann to the
ground-breaking classroom of the future. Antioch McGregor was selected based on the history of innovation at Antioch
relative to the size of the school in its market size. In the show, Dayton Mayor Rhine
McLin
remarks, Something about
being in the Miami Valley just vibrates creativity, innovation, and technology. And (Antioch University) hfcGmgor is part of
I’ ,
it. ,. ,!
There are two significant accreditation projects that will occupy Antioch McGregor this academic year. The first is the re-
. authorization process with the Ohio Board of Regents which permits us to legally do business in the State of Ohio. This is
mandated by the Ohio Board of Regents after the formal NCA re-accreditation process has been completed. Ft is a
thorough and comprehensive process which must be completed before the end of 2003 and will occupy a major amount of
Antioch McGregor Academic Dean Steve
Brzezinski’s
time during the fall quarter. Antioch College is engaged in this
same process during the quarter because the Board of Regents has requested two separate
submissions
rather than a
* combined effort.
The second project is preparation for the Ohio Department of
EducationINCATE
evaluation of our education programs
scheduled for the fall of 2004. This evaluation is extraordinarily detailed and complex and it is necessary to begin the
planning and preparation for this important evaluation now rather than later. Part of the time of two faculty members is
now dedicated to this project, and expenditures for this initiative during the present academic year are estimated at
$20.000.
One difficulty we are having is finding enough new faculty members to adequately staff our rapidly growing education
programs. Relatively modest faculty salaries at McGregor make multiple hiring somewhat problematic,
although
paradoxically this has a very positive short-term implication for our budget since the vacant positions were fully budgeted.
Although the only long-term solution is new faculty hires, the Director of Education Programs has been quite successful in
hiring ‘at the Associate Faculty level a number of experienced, extraordinary professional educators to help the program
. meet its present commitment to students with a level of excellence far superior to simply hiring a variety of Adjunct Faculty
to teach necessary courses. This is a very creative solution to present problems, but clearly not sufficient in the long run.
NEXT STEPSISUMMARY
There are two substantial projects taking place at McGregor. The first is a detailed strategic plan that will provide the
Board very useful information about our future. The draft is due from academic leaders January 15; support offices will
then prepare their part. We have also commissioned studies to inform this process. They include one on economic
impact. The economic impact study will be very helpful in identifying
McGregorls
“value-added” in this region and beyond.
The second project is facilities review for renovation or a new building. This issue will be presented at the Facilities
Committee meeting, including a brief presentation by our architects. Indeed, this is a rather controversial issue as change
often will be. But frankly, it is a great problem -we are doing well, we need to expand, and we need Board support.
We have adjusted salaries, filled vacant positions and now is the time to build the appropriate capacity to serve learners.
To reinforce this point, we turned away nearly $800,000 in revenue because we have raised the bar on admission, we
either were short of faculty or in most cases – did not have the space. I believe this makes the point.
Barbara
Gellman-Danley
President
Ã
Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition
Gifts
Grants
Endowment income
Contracts
Realized Gains (Losses)
Unrealized Gains (Losses) D
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From
Restrictions
Total
Revenues
Operating
Expenses
Instruction
Research
Public
Smite
Academic
Support
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total E&G Expenses
Auxiliary Enterprises
Total Operating Expanses
Excess Revenue over Expenses
Annual
Bu-d@t
Ctirfversion
to
Cash
Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior
Year
Reserves
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
Antioch University McGregor
September 30,2003 Actual Expenditure Summary by Function
Sept 30,2001
Actual
..–>–.
614,261
-22,065
592,196
3,500
56,708
25,000
48,637
0
0
1,938
727,979
0
0
727,979
Sept 30,2002
Actual
–.-
733,224
0
733,224
2,498
43,915
0
21 0
0
0
-1,597
778,250
0
0
778,250
632.002
0
0
7.580
199,828
359,497
81,032
2,566
1,282,505
1,282,505
-504,255
5,500
0
18,445
0
-48,837
-24.892
-479,363
Sept 30,2003
Budget
-..–
793,517
0
793,517
20,001
16,254
0
14,001
0
0
3,969
847,742
0
19,356
867,098
816,092
0
12,516
5,001
246,083
453,777
89,766
3,504
1,626,739
0
1,626,739
-759,641
10,000
0
0
0
-56,244
-46,244
-713,397
Sept 30,2003
Actual
…..–
927,180
-11,116
916,064
1,471
23.1 10
0
78
0
0
2,371
943,094
0
4,954
948,048
703,336
0
1,317
7,278
239,566
412,189
90,128
8,595
1,462,409
1,462,409
-514,361
28,323
0
0
0
-56,608
-28,285
-486,076
Change From Chan’ Â¥ From
2003-04 Budget 2009~Ctual
to 2003-04 Actual to 2003 Actual
Antioch University McGregor
September 30,2003 Actual Expenditure Summary by Category
Change From
2003-04 Budget
to 2003-04 Actual
$ %
-..-…. .-.dm–
80,950 9.34%
Change From
2002 Actual
to 2003 Actual
$ %
-=-..#a. *…—-
169,798 21.82%
Sept 30,2001 Sept 30,2002 Sept 30,2003
Actual Actual Budget
–.-…. .. …… …-.—
727,979 778,250 867,098
Sept 30,2003
Actual
…-.–.
948,048 Revenues
Operating Expenses
Salaries &Wages
Benefits
Training & Development
? Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Campus Program Contingency, Discrestionary
Liquidity Reserve
Overhead
To the University
Q Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other (Intercampus Agree & Univ Conf)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Items
Net Cash Basis Budget
Ph.D. in LEADERSHIP AND CHANGE
2003-04 First Quarter Performance
The 2003-04 annual term for the Ph.D. Program has started off very successfully. We held the 7-day ~um’m’err kick-off
residency in Yellow Springs in mid-August. Student evaluations indicate that the residency was a wonderful learning
experience, meeting or exceeding expectations in 100% of the evaluations!
We now have 61 active doctoral students (three over projection!), with three other students on leave for personal reasons.
We have 7 Core Faculty (4 full-time, plus another half-time, in addition to Al Guskin at 25% and Laurien Alexandre splitting
her time at 50% faculty and 50% administration) for a total of 5.25 FTE Faculty. In addition, we are paying for a full-time
graduate research librarian at ANE for the first time this year; and, we have added one support staff in the program office
in Yellow Springs. So, our little doctoral community has definitely grown since its start in January 2002!
In terms of the budget, tuition income is $68,000 over what was projected, for an annual total of $1,054,050: a million-
dollar level of tuition-generated income in less than two years! Program expenditures
are
at
appropriate
and budgeted
levels. We need to take into account that the months of July-September witness slightly higher expenses due to the
May
residency and all the costs associated with that gathering. Thus, cost lines that show actuals at higher than projected
(such as travel, honoraria) are at those levels expectedly and the actuals will decline back down to allocated levels in
future months.
All indications are that we will have a strong year.
Laurien
Atexandre
Director
Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition
Gifts
Grants
Endowment Income
Contracts
Realized Gains (Losses)
Unrealized Gains (Losses)
Other Income
Total
E&G
Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Operating Expenses
Instruction
Research
Public
Service
Academic Support
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total E&G Expenses
Auxiliary Enterprises
Total Operating Expenses
Excess
RevenueoverExpenses
Annual Budget Conversion to Cash Basis
(Sapital
Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
Ph.D in Leadership and Change
September 30,2003 Actual Expenditure Summary by Function
Sept 30,2001 Sept 30,2002
Actual
——–
1,500
0
1,500
0
0
0
0
0
0
0
1,500
0
0
1,500
0
0
0
0
0
0
0
0
0
0
0
1,500
0
0
0
0
0
0
1,500
Actual
-.-….-
617,200
-5,500
61 1,700
0
0
0
0
0
0
61 0
612,310
0
0
612,310
147,948
0
0
0
0
0
1,012
0
148,960
0
148,960
463,350
0
0
0
0
-1,012
-1,012
464,362
Sept 30,2003
Budget
…..—
986,939
-4,500
982,439
0
15,741
0
0
0
0
1,122
999,302
0
0
999,302
247,070
0
15,757
0
0
0
41 7
0
263,244
0
263,244
736,058
0
0
0
0
-417
-41 7
736,475
Sept 30,2003
Actual
—–…
1,056,900
-18,650
1,038,250
0
10,938
0
0
0
0
2,624
1,051,812
0
6,302
1,058,114
252,091
0
22,526
0
0
0
1,318
0
275,935
0
275,935
782,179
0
0
0
0
-1,318
-1,318
783,497
Change From Change From
2003-04 Budget 2002 Actual
to 2003-04 Actual to 2003 Actual
Ph.D in Leadership and Change
September 30,2003 Actual Expenditure Summary by Category
Operating Expenses
Salaries &Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale
Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other (Intercampus Agree & Uf-iiv Confj
Depreciation
Total Operating Expenses
Excess Revenueover Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Items
Net Cash Basis Budget
Sept 30,2001
Actual
–A-
1,500
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,500
0
0
0
0
0
0
1,500
Sept 30,2002 Sept 30,2003
Actual
-.—-
612,310
75,836
26,585
17,139
0
0
1,459
23,140
2,929
171
0
689
0
0
0
0
0
0
0
0
1,012
148,960
463,350
0
0
0
0
-1,012
-1,012
464,362
Budget
–*—-
999,302
145,968
45,879
24,135
0
0
3,009
29,793
1,251
126
0
504
7,611
0
0
672
0
0
0
3,879
41 7
263,244
736,058
0
0
0
0
-417
-41 7
736,475
Sept 30,2003
Actual
–.—-.
1,058,114
150,845
46,683
27,269
0
0
2,437
40,368
3,278
41 8
0
41
0
0
0
672
0
0
0
2,606
1,318
275,935
782,179
0
0
0
0
-1,318
-1,318
783,497
Change From Change From
2003-04 Budget 2002 Actual
to 2003-04 Actual to 2003 Actual
ANTIOCH UNIVERSITY ADMINISTRATION
2003-04 First Quarter Performance
‘4
7
The University Administration’s income is provided primarily by the nonresidential campuses. In the first quarter of 2003-
* 04, Other Income shows a negative $6,179. This is due to the loss on the sale of the vehicle that had been assigned to
the previous Chancellor. The car had been under lease, but was not being used by the new Chancellor. Therefore, a
Ã
decision was made to sell the car and ads were placed in area newspapers for several months. Eventually, the University
found a buyer and a price was negotiated. The price was close to the market value for the car, but less than the book
value that the University had recorded when the lease was initiated.
Operating expenses are in line with the budget for the quarter and reflect only minor variances. Travel is slightly above
budget for the quarter due to Board work and the search for the president in Southern California. Overall, the budget is on
, track.
Glenn Watts
Vice Chancellor and
Chief Financial Officer
Revenues
Tuition & Pees
Less Tuition Discounts
Net Tuition
Gifts
Grants
Endowment Income
Contracts
Realized
Gains
(Losses)
Unrealized Gains
(LOsses)
Other
Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Net Overhead for Central Operations
Operating Expenses
Instruction
Research
à Public Service
Academic Support
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total E&G Expense’s
Auxiliary Enterprises
Total Operating Expenses
Excess Revenue over Expenses
Annual
Budget
Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Depreciation
Total Cash Items
N’et Cash Basis Budget
University Administration
September 30,2003 Actual Expenditure Summary by Function
Sept 30, 2001
Actual
–ad–
0
0
0
0
0
0
0
0
0
0
0
0
0
0
521,989
0
0
0
0
22,870
491,983
0
0
514,793
514,793
7,196
7,196
0
0
0
0
7,196
0
Sept 30,2002
Actual
—-
0
0
0
0
0
0
0
0
0
0
0
0
0
0
513,757
0
0
0
0
22,297
485,181
0
0
507,478
507,478
6,279
6,279
0
0
0
0
6,279
0
Sept 30,2003
Budget
…–.-
0
0
0
0
0
0
0
0
0
0
0
0
0
0
513,662
0
0
0
0
27,536
486,126
0
0
513,662
51 3,662
0
0
0
0
0
0
0
0
Sept 30,2003
Actual
.au-
0
0
0
1,447
0
0
0
0
0
-6,179
4,732
0
0
4,732
514,932
0
0
0
0
22,963
484.936
0
0
507,899
507,899
2,301
2,301
0
0
0
0
2,301
0
Chan e Frm 200341% Budget
to 2003.64 Actual
University Administration
September 30,2003 Actual Expenditure Summary by Category
Revenues
Operating Expenses
Salaries & Wages
Benefits
Training & Development
Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other (Intercampus Agree & Univ Con9
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital
~xpenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Items
Net Cash
Basis
Budget
Sept 30,2001 Sept 30,2002
Actual Actual
–.–.– .-…..-
521,989 513,756
Sept 30,2003
Budget
..-….-
51 3,662
230,487
91,718
15,683
0
0
4,901
28,436
136,181
0
0
504
5,752
0
0
0
0
0
0
0
0
513,662
0
Sept 30,2003
Actual
– .. .. . ..
510,200
231,849
86,112
20,962
0
0
5,078
29,915
133,722
58
0
203
0
0
0
0
0
0
0
0
0
507,899
2,301
Change From
2003-04 Budget
to 2003-04 Actual
$ %
.-..–..
-3,462 -0.67%
Change From
2002 Actual
to 2003 Actual
$ %
…-.-.- .–.*…
-3,556 -0.69%
ANTIOCH REVIEW
2003-04 First Quarter Performance
* We see no changes in revenue, although Gift income is lagging the budget. The bulk of our renewals come at the end of
the year. The fall issue is on schedule, with essays on the current state of museums a special feature. The winter issue is
in process -a special poetry issue edited by Judith Hall. An essay “Is Nothing Sacred? The Eclipse of the Holy in
Contemporary Christianity” was noted by the Chronicle of Higher Education in its magazine and journal reader column and
a positive review of an earlier issue appeared in the Small Press Review. The editor attended the “New York is Book
Country” fair and met with
writers
and alums. We have added five volunteer readers for fiction and plans are underway to
have several fund raisers in 2003-04. An historical marker set out on front campus about the College notes the found’ing
, of the Review in 1 941 .
Robert Fagarty
Editor
Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition
Gifts
Grants
Endowment Income
Contracts
Realized
Gai’ns
(Losses)
Unrealized Gains (Losses)
Other Income
Total E&G Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Operating Expenses
Instruction
Research
Public Service
Academic Support
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total E&G Expenses
Auxiliary Enterprises
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
Antioch Review
September 30,2003 Actual Expenditure Summary by Function
Sept 30,2001
Actual
—-
0
0
0
555
3,084
2,350
0
0
0
2,462
8,451
5,228
0
13,679
0
0
40,166
0
0
0
0
0
40,166
0
40,166
-26,487
0
0
0
0
0
0
-26,487
Sept 30,2002
Actual
—.—.
0
0
0
1,383
3,499
2,045
0
0
0
2,040
8,967
3,161
12,128
0
0
39,123
0
0
0
0
0
39,123
0
39,123
-26,995
0
0
0
0
0
0
-26,995
Sept 30,2003
Budget
—..—
0
0
0
3,300
2,750
2,376
0
0
0
1,700
10,126
6,200
0
16,326
0
0
40,457
0
0
0
0
0
40,457
0
40,457
-24,131
0
0
0
0
0
0
-24,131
Sept 30,2003
Actual
-..—-.
0
0
0
975
2,751
2,217
0
0
0
2,127
8,070
4,966
0
13,036
0
0
41,406
0
0
0
36 1
0
41,767
41,767
-28,731
0
0
0
0
-361
-361
-28,370
Change From
2003-04 Budget
to 2003-04 Actual
Change From
2002 Actual
to 2003 Actual
Antioch Review
September 30,2003 Actual Expenditure Summary by Category
Revenues
Operating Expenses
Salaries &Wages
Benefits
Training & Development
Student
Aid
Setvices
Special Events
Supplies t Business Operations
Plant Maintenance
Interest Expense
Resale Costs
* Miscellaneous
Contingency/Reserves
Campus
Contingency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other (Intercampus Agree & Univ Corif)
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Items
Net Cash Basis Budget Q
Sept 30,2001
Actual
—–.-
13,679
12,563
6,338
0
0
0
86
21,179
0
0
0
0
0
0
0
0
0
0
0
0
0
40,166
-26,487
0
0
0
0
0
0
-26,487
Sept 30,2002
Actual
-..–.-
12,128
12,789
6,824
402
0
0
9
19,099
0
0
0
0
0
0
0
0
0
0
0
0
0
39,123
-26,995
0
0
0
0
0
0
-26,995
Sept 30,2003
Budget
—–.*
16,326
13,632
7,993
1,051
0
0
110
17,671
0
0
0
0
0
0
0
0
0
0
0
0
0
40,457
-24,131
0
0
0
0
0
0
-24,131
Sept 30,2003
Actual
13,036
12,577
7.450
400
0
0
28
20,951
0
0
0
0
0
0
0
0
0
0
0
0
36 1
41,767
-28,731
0
0
0
0
-361
-361
-28,370
Change From Change From
2003-04 Budget 20102 Actual
to 2003.04 Actual to 2003 Actual
$ % $ %
.–*2-*- .w*am- ‘#da-a%=-
-3,290 -20.1 5% 908 7.49%
WYSO PUBLIC RADIO
2003-04 First Quarter Performance
WYSO Public Radio began 2003-04 with the strongest and largest listenership in its 45-year history (57,200 weekly
listeners for the Total Listening Area, according to Spring 2003 Arbitron). It continues to improve the professionalism,
quality, and overall public service offered on its airwaves. It is also attracting significant attention from the leadership of
the public radio system. These leaders have committed themselves to providing support and assistance to WYSO in its
development goals. Most notable among these individuals is the Corporation for Public Broadcasting’s Vice President for
Radio,
Vinnie
Curren. Mr. Curren has made a personal pledge to WYSO management that he is prepared to come to the
Miami Valley this fall and work to help us create the type of sophisticated public radio operation that our audience wants
and
needs.
The concluding paragraphs of
WYSO1s
2002-03 Year-End Review describe the evolving dynamic at the
CPB
and the new
priorities Curren has been discussing with stations and system colleagues since January 2003. It is clear to all who have
heard him speak, that the CPB is seeking specific ways to encourage two or more public radio stations in the same market
to collaborate to create cost and operational efficiencies. The CPB is actively exploring how to remove the element of
choice from this arena. Mr. Curren and others believe that this is responsible stewardship of the taxpayer investment in
public broadcasting. Perhaps more importantly, partnerships between stations are seen as a significant way to enable
public stations to remain competitive in an era of exploding competition and increasing costs of operations in the ongoing
transition to full digital operations and transmission.
Other leadership organizations in public radio, including the Station Resource Group (SRG) and the Development
Exchange, Inc. (DEI) are providing considerable consultation assistance and support to WYSO, and are prepared to
o leverage their organizational reputations on the station’s behalf as it seeks grant support from the CPB and others to create an infrastructure capable of generating the revenues necessary to operate a self-sufficient public broadcasting
business. e
During the first quarter, we have spent a good deal of time and energy working on collaboration with Dayton Public Radio
(DPR). Since WYSO and DPR have a decade-long track record of cordial and cooperative relations, the fit between the
two organizations is built upon very solid ground. In the early
1990s,
both stations long ago agreed not to duplicate each 4
other’s programming and, thus, have very distinct and separate broadcast identities in the Miami Valley. At about the
same time, WYSO and DPR jointly conducted the Twin Signals Project capital campaign, which enabled
DPR
to erect a
second broadcast tower in Greenville, OH and WYSO to increase its broadcast strength from 11,000 to 37,000 watts
(thereby transforming it into a regional operation and the area’s dominant public radio service). Both stations coordinate
their spring and fall on-air fund drives so that they take place simultaneously (as there is incontrovertible evidence in public
broadcasting that fundraising results improve for all when stations in the same market all
fundraise
at the same time). And
the managers of both stations appear on one another’s airwaves to encourage listeners to contribute.
While much discussion and preliminary planning has taken place during the past year or so, I have devoted much time
and energy this past summer working on deepening the partnership opportunities for WYSO and DFR. Included here has
been ironing out the legal specifics of a joint underwriting and marketing agreement between WYSO and DPR, At this
writing, this initiative is near completion and set for anticipated rollout by November 2003. By combining the audience
numbers and profiles of both stations, and packaging our joint presentations as Miami Valley Public Radio, both
operations will be better positioned to secure more underwriting revenues than either station is currently capable of
generating independently. The details of how this partnership will work have been guided by consultation
assistance
provided by DEI and have been greatly influenced by the great success being
experienced by the Public Radio
Partnership in Louisville, KY (a three-station consortium whose joint saleslmarketing efforts have generated explosive
revenue growth for all stations).
WYSO and DPR are also exploring other efficiencies that will address long-term sustainability issues for both
organizations, and offer each the opportunity to plan for real, substantive growth in service. The areas of efficiency under
consideration are back office functions, such as engineering, membership, communications,
etc,
Ç
Success in achieving these efficiencies is tremendously important to Antioch University. Long term sustainability will
permit the University to derive all the benefits of owning a public radio license and maintaining a significant
broadcast
service without having to be concerned about the periodic need to divert institutional
capital away from aeademi’c
programs to cover the station’s operational expenses. Just as significant is the fact that when WYm grows, so too do
opportunities for students to work at the station in a real-world context. University-licensed stations, such as Fordham
University’s WFUV, make regular use of several dozen students, all of whom hold titled positions and work in Support of
the mission objectives of the station. Students acquire new skills and experiences that are directly translatable to the
marketplace. And they boast resume credits that instantly make them more competitive than many other graduates.
WYSO’s management also feels strongly that there is many unexplored opportunities to work with Antioch University v
McGregor and, in this age of the Internet, even with the campuses in New Hampshire, California, and Washington State.
Also of note during the first quarter are the ongoing leadership activities taking place within Ohio Public Radio (QPR). I
serve as OPR president and I have made the formal adoption and implementation of the OPR Multi Station Underwriting
, Plan a primary agenda item for my colleagues. More details on this initiative may be found in WYSO’s 2002-03 Year-End
Review. The OPR member stations are currently working on the specifics of a rollout for the plan. All are encouraged by
d the success of similar statewide public radio sales programs in North Carolina and Florida that last year generated total
revenues of $1.2 and $1.6 million.
Partnershipldevelopment
opportunities with DPR are likely to begin bearing fruit during the second quarter. It is unclear at
; this writing if the OPR sales partnership can necessarily launch during this fiscal year, although that is the goal of all
* involved. All are confident that the plan is sound and will accrue long-term financial benefits to Ohio’s public radio
stations. With this in mind, WYSO management is not pleased with the underwriting revenues it is currently generating.
Development staff are aware that
WYSO’s
underwriting goals are not being met and that the situation must improve.
Station
management
is taking a far more active role in underwriting acquisition strategies, as well as providing appropriate
professional development to improve opportunities for success.
Regarding membership, the two major on-air fundraising campaigns of 2003-04 have not yet been held. The goals for
these are, respectively, $250,000 (Fall 2003) and, tentatively, $225,000 (Spring 2004). Pre-Fall drive results from direct
mail
renewalsladditional
gifts and on-air messaging are returning the strongest returns the station has ever seen in the
run-up to campaign launch.
I1
is also worth noting the profound support and camaraderie being offered by
WYSO’s
public
radio colleagues at WBEZ, Chicago, one of the system’s flagship stations, known to listeners nationwide as the home
station of THIS AMERICAN LIFE with Ira Glass and the NPR comedy-quiz program, WAIT, WAIT..
.DON’T
TELL ME. In
addition to the assistance of staff in the WBEZ development offices, station manager Torey Malatia has been especially
supportive. In fact, Mr. Malatia will be coming to Yellow Springs, at
WBEZ’s
expense, to pitch on-air with WYSO staff on
Saturday, October 25 because of his belief in the work this station is doing and its significant opportunities to achieve even
greater levels of community impact and financial success.
The station will likely also hold a brief, 2-3 day end-of-fiscal year campaign in late June 2004 (with a tentative goal of
$30K). The station is also working on the launch of its major donor initiative, the WYSO Leadership Circle. Various
scenarios are being considered, including the possibility of working with a regional major donor management firm or public
radio’s Major Giving Alliance. National Public Radio (NPR) and others are assisting WYSO to
determine
how it can best
proceed in developing this new and critical revenue stream. WYSO administrations, going back at least a decade, have
all stated a desire and need to commence a major donor program and we cannot delay further. The
June
30,2003 edition
of
Current?,
the newspaper of public broadcasting, featured the very telling headline,
“Failing
to ask for major gifts costs
pubcasting millions;” the full text of which is available at www.current.ora/fundino/fundina031.2rriaior.html.
As always, the management, staff, and volunteers of WYSO Public Radio are grateful for the oversight and support of the
University Administration and, of course, the Antioch University Board of Trustees. The station hopes that those who do
not reside in the Miami Valley will take the time to periodically listen to WYSO by accessing the station’s real-time, audio
stream at
www.wvso.orq
(just click on the Listen Live link).
Steve Spencer
General Manager
WYSO
September 30, 2003 Actual Expenditure Summary by Function
Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition
Gifts
Grants
Endowment Income
Contracts
Realized Gains (Losses)
Unrealized Gains (Losses)
Other Income
Total
E&G
Revenue
Auxiliary Enterprises
Released From Restrictions
Total Revenues
Operating Expenses
Instillction
Research
Public Service
Academic Support
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total
E&G
Expenses
Auxiliary Enterprises
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add back Depreciation
Total Cash Items
Net Cash Basis Budget
Sept 30,2001
Actual
Sept 30,2002
Actual
Sept 30,2003
Budget
——–
0
0
0
25,000
10,000
0
0
0
0
77,004
112,004
I26
0
112,130
Sept 30,2003
Actual
Change From
2003-04 Budget
to 2003-04 Actual
Change From
2002 Actual
to 2003 Actual
$ %
-.—— ——-.
WYSO
September 30, 2003 Actual Expenditure Summary by Category
Revenues
Operating Expanses
Salaries &Wages
Benefits
Training & Development
Student Aid Services
Special Events
supplies
v Business Operations
Plant Maintenance
Interest Expense
Q Resale Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Campus Program Contingency, Discretionary
Liquidity Reserve
Overhead
To the University
Rebates from
tfte
University
Subsidy from Adult Campuses
Subsidy from Overhead
Other (Intercampus Agree & Umv Con9
Depreciation
Total Operating Expenses
Excess Revenue over Expenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Items
Net Cash
Basis
Budget
Sept 30,2001
Actual
Sept 30,2002 Sept 30,2003
Actual Budget
-.– —.
112,130
80,930
31,772
4.630
0
51
1,031
101,259
21,066
1,647
0
126
0
0
0
0
0
0
0
0
3,252
245,764
-133,634
8,250
0
3,792
0
-3,252
8,790
-142,424
Sept 30,2003
Actual
— ——
84.594
Change From
2003-04 Budget
to 2003-04 Actual
Change From
2002 Actual
to 2003 Actual
$ %
—-.a .*-*A*.
-42.533 -33,4S%
University Wide
September 30, 2003 Actual Expenditure Summary by Function
Revenues
Tuition & Fees
Less Tuition Discounts
Net Tuition
Gifts
Grants
Endowment Income
Contracts
Realized Gains (Losses)
Unrealized Gains (Losses)
Other Income
Total E&G Revenue
Auxiliary Enterprises
Q> Released From Restrictions
Total Revenues
Net Overhead for Central Operations
Operating Expenses
Instruction
Research
Public Service
Academic Support
Student Services
Institutional Support
Plant Maintenance
Scholarships
Total
E&G
Expenses
Auxiliary Enterprise’s
Total Operating Expenses
Excess Revenue
aver
Expenses
Annual Budget Conversion to
Cash
Basis
Capital Expenditures
Borrowing Proceeds
Principal
PayinWtS
Prior Year Reserves
Add back Depreciation
Total Cash ltmÂ
Net Cash Basis Bwlget
9
Sept 30,2001
Actual
–.*.-*-
0
0
0
0
20,885
-243,880
0
-77,224
-903,381
81,258
-1,122,342
0
128,732
-993,610
76,122
0
0
0
80,391
0
318,952
735,451
37,930
1,172,724
0
1,172,724
-2,090,212
0
0
31,031
0
-735,451
-704,420
-1,385,782
Sept 30,2002
Actual
–..—.
0
0
0
0
27,106
-123,908
0
-980,566
-498,739
70,487
-1,505,620
0
77,598
-1,428,022
20,770
0
0
0
15.370
0
233,169
57,763
38,457
344,759
0
344,759
-1,752,011
11,779
0
31,031
0
-57,763
-14,953
-1,737,058
Sept 30,2003
Budget
–..–..
0
0
0
7,500
31,251
45,000
0
0
0
39,303
123,054
0
87,960
211,014
202,909
0
0
0
16,852
0
449,046
51,312
31,251
548,461
0
548,461
-134,538
0
0
31,031
0
-51,312
-20,281
-1 14,257
Sept 30,2003
Actual
…–..
0
0
0
0
19,970
-1 66,418
0
75,868
688,914
82,843
701,177
0
99,971
801,148
201,639
-25,000
0
0
17,803
0
512,464
52,496
39,423
597,186
0
597,186
405,601
13,228
0
31,027
0
-52,496
-8,241
413,842
Change from Change l^rom
2003-04 Budget 2002 Actual
to 2003-04 Actual to 2003 ~ctpal’
University Wide
September 30, 2003 Actual Expenditure Summary by Category
Revenues
Operating Expetises
Salaries & Wages
Benefits
Training & Development , Student Aid Services
Special Events
Supplies
Business Operations
Plant Maintenance
Interest Expense
Resale Costs
Miscellaneous
ContingencyIReserves
Campus Contingency, Mandatory
Campus Program Contingency, Discretionary
ft Liquidity Reserve
Overhead
To the University
Rebates from the University
Subsidy from Adult Campuses
Subsidy from Overhead
Other (Intercampus Agree & Univ Conf)
Depreciation
Total Operating Expenses
Excess
RevenueoverExpenses
Annual Budget Conversion to Cash Basis
Capital Expenditures
Borrowing Proceeds
Principal Payments
Prior Year Reserves
Add Back Depreciation
Total Cash Items
Net Cash Basis Budget
Sept 30,2001
Actual
–.—–
-91 7,488
98,042
26,563
18,529
0
0
1,336
142,495
12,141
51,600
0
8,135
22,718
0
14,199
0
0
0
0
41,515
735,451
1,172,724
-2,090,212
0
0
31,031
0
-735,451
-704,420
-1,385,792
Sept 30,2002
Actual
–…—
-1,407,252
67,560
19,259
8,791
0
0
5,253
98,810
20
30,631
0
2,050
0
0
0
0
0
0
0
54,622
57,763
344,759
-1,752,011
11,779
0
31,031
0
-57,763
-14,953
Sept 30,2003
Budget
–.—-
413.923
215,660
54,767
51,257
0
0
1,506
131,085
65
15,252
0
1,263
3’31
1
0
0
0
0
0
0
22,983
51,312
548,461
-134,538
0
0
31,031
0
-51,312
-20,281
Sept 30,2003
Actual
-.——
1,002,787
222,146
54,616
31,176
0
0
1,185
158,064
-2,814
27,187
0
21,976
0
0
0
0
0
0
0
31,154
52,496
597,186
405,601
13,228
0
31,027
0
-52,496
-8,241
413,842
Change From Change From
2003-04 Budget 2002 Actual
to 2003-04 Actual to 2003 ~cthal
i/R AGING REPORT SEPTEMBER 30.2003
I
,
–
;TUDY PERIOD OUTSTANDING COLLECTED COLLECTED- – –
9/30/03 9/30/02 — – –
iOLLEGE (inc AEA) —
‘002103 Year $128.995 I
33 Summer $4,129,976 $3,929,109 $200,867 95.14% I -* 98.20%
33 Fall — $7,267,770 $5,338,757 $1,929,013 73.46% I 75.382
34 Spring I
‘otal College $1 1,397.746 $9,267,866 $2,258,875 81.31% 1 83.38%
>ANTA BARBARA I
!002/03 Year $37.427 I —
03 Summer $793.020 $737,929 $55,091 93.05% 1 – 95.959
03 Fall $1,076,630 $304,816 $771,614 28.31% . 1 60.229 — — – — . ..
04 Winter I
04 Spring I
Fotal S.B. $1,869,650 $1,042,745 $864,332 65.77% 1 70.969 —
-0s ANGELES
1
I
!002103 Year $16,625 I
03 Summer $1,846,125 $1,708,678 $1 37,447 92.55% 1 95.019
03 Fall $3,604,969 $1,926,974 $1,677,995 53.45% I 63.61 9
04 Winter 1 1 1 1
I
I
04 Spring
rota1 L.A.
SEATTLE
?002103 Year
03 Summer
03 Fall
04 Winter
04 Spring
rota1 Seattle
MEW ENGLAND
2002103 Year
$5,451,094
03 Summer
03 Fall
1,689,622
2,533,737
$4,223,359
I
$1895,635 1 $1,887,432 1 $8,203 1 99.57% I 99.66%
$4154.910 1 $3.996.798 1 $158,112 1 96.19%! 92.98%
$3,635,652
04 Spring
Total NE
MCGREGOR
2002103 Year
03 Summer –
03 Fall
2002103 Year . -. — $7,750
2003104 Year — – $1,038,250 $473,059 $565,191 45.56% 1
Total PhD Program $1.038.250 $473,059 $572,941 45.56% I 42.20%
1,684,339,
457,174
$2,141,513
$5,884,230 $6,050,545
04 Winter
04 -. Spring
Total McG
P~D PROGRAM
$1,832,067
80
$757,572
66.70% 1 73.67%
1 1
1
5,283
2,076,563
$2,081,926
$7,662
$173,977 97.25% -1 94.98%
$757,572
99.69% 1 98.64%
18.04%]
57.65%
50.71% 1 76.24%
I
I
$1 54,993
$642,590
—
$642,590
$1 14,982 84.82% I
$269,975 84.82% 1 84.59%
ANTIOCH UNIVERSITY
Status of Accounts Payable
As of September 30,2003
Aged from Invoice Date
Current (0 to 30) $305,720.54
3 1 -60 Days 44,948.60
61 to 90 Days -3,637.03
Over 90 Days -31,097.82
Percent of Total
Sep 30,2003 Sep 30,2002
96.77% 75,OI %
14.23% 17.43%
-1.15% 1.08%
COST CENTERS
,1
INSTRUCTION:
Undergraduate
Heritage Institute
Preparatory-Remedial Education
Teacher Certification
, Arts
, Human Services
Computer Instruction
Cooperative Education
Environmental Field Program
Continuing Education
History, Philosophy & Religion
Physical Sciences
Languages, Literature & Culture
Environmental & Biological Sciences
Self, Society & Culture
Cultural & Interdisciplinary Studies
Social & Global Studies
AEA (Antioch Education Abroad)
MS Management
MA Psychology
MA Education
OSR
Whole System Design
, MA Organizational Management
DanceIMovement
Therapy
Counseling Psychology
Marriage and Family Therapy
Environmental Studies
Education
Organization & Management
Applied Psychology
Clinical Psychology
I MA
Weekend Program
Intercultural Relations
INSTRUCTION
(Cont’dl:
Conflict Resolution
Environment & Community
Fine Arts
PhD
in Leadership & Change
RESEARCH:
Individual and Project Research
PUBLIC SERVICE:
Glen Helen
Antioch Review
WYSO
Counseling Centers
ACADEMIC SUPPORT:
Academic Administration
General Faculty
AEA Administration
Cross Cultural Program
ArchiveslAntiochiana
LibraryIMedia
Services
Psychological Services Center
Research and Evaluation
Writing Center
WSD
Institute
Academic Computing
STUDENT SERVICES:
Financial Aid Administration
Student Admissions
Registrar (Student Records)
Student Services
Advocate’s Off ice
Infirmary
Counseling
STUDENT SERVICES Cont’d:
Security
Student
Loan
Office
Community Government
INSTITUTIONAL SUPPORT:
Chancellor
Trustees
ProvostIPresident
Fiscal Operations
Business Operations
General Administration
Central Services
Personnel
Alumni
Development/Advancement
Public Relations
Publications
Administrative Computer Service
University Administration
PLANTMAINTENANCE:
Maintenance
Custodial
Building & Grounds
Power Plant
Depreciation
SCHOLARSHIPS:
Grants & Scholarship
AUXILIARY.ENTERPRIS.ES:
Dining Serviced Gathering Space
Housing/Bookstore
Computer Sales
McGregor
Conference Center
LINE ITEMS
SALARIES &WAGES: Compensation
Paid to Contracted Employees
Core Faculty
Associate Faculty
Adjunct Faculty
Administrators
Administrative Associate
Teaching Assistants
Unionized Staff
Non-Unionized Staff
Students
Retirees
Other Staff Employees
BENEFITS: Required and Non-Required
Benefits Paid
Medical
Dental Plan
FICA
Worker’s
Comp
Unemployment
Life Insurance
Long & Short Term Disability
Retirement
Moving Expenses
Employee Tuition Waivers
Miscellaneous Benefits
TRAINING & DEVELOPMENT:
Non-Contracted
Expenses for Trg & Develop
Business Travel
Local
MeetingslWorkshops
Professional Development
Employee Recruiting
Program Development
STUDENT AID:
Restricted Grant
Scholarshios
, Student Vouchers
SPECIAL EVENTS:
Graduation
Orientation
Miscellaneous Special Events
SUPPLIES:
Off ice
Su~~lies
instructional Supplies
Research Supplies
Duplicating Supplies
Computer Supplies
Computer Software
Maintenance Supplies
Furniture Supplies
Equipment Supplies
Library Supplies
Food Supplies
Miscellaneous Supplies
BUSINESS OPERATIONS COSTS:
General Cost of
Doina
Business
Subscriptions & ~ublicaions
Purchased Services
Consulting
HonoraridStipends
Information & Communications
Memberships & Dues
Printing
PostageIFreight
AudioNisual
Advertising
Telecommunications
Internet & Leased Lines
Legal
Audit
WYSO Programming
WYSO Premiums
Bad Debt Expense
PLANT MAINTENANCE COSTS:
Costs Related to Facilities
Maintenance Contracts & Repairs
Computer Maintenance
Purchased Services
Utilities
Vehicle Operation
Facility Rental
Equipment Rental
Insuranceflaxes
DEPRECIATION:
INTEREST EXPENSE:
Interest
Bank Charge’s (include credit card charges)
RESALE-COSTS:
Books for Resale
Computers for Resale
Supplies for Resale
MISCELLANEOUS COSTS:
Miscellaneous
Student Activities
Student Insurance
Payments to Annuitants
Miscellaneous Grants to Others
cONTI.NG.EN’CY/RES,ERVES:
Campus Contingency, Mandated
Campus Contingency, Discretionary
Capital Reserve
OVERHEAD COSTS:
Regional Overhead
University Overhead
University Conference
Standard Cost Overhead
Operation Subsidy
Inter-Campus Agreements
Grant Indirect Costs
