Financial Management Report for GASP Funding Season
The report outlines the financial status of GASP for the academic year, detailing budgeted funds, estimated expenses, student enrollment trends, and expenditure patterns. It highlights the challenges faced and strategies employed to manage funds effectively, including overspending for new student enrollment and recovery through grants and tuition payments.
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GASP funding season how we pay to enroll the new class
April 1stdeadline we estimate how much money we ll have for the following academic year Budgeted permanent funds Estimated one-time money Estimated recovery after grants pay tuition Estimated total for new and continuing students $8,905,384.00 $930,115.00 + $550,000.00 $10,385,499.00
Continuing student GASP is encumbered Cost for AY 19-20 Available for new class of students: Without Policy 50.5: Number of students affected: New class AY 19-20 so far: Without Policy 50.5, funds available for new new class for AY 19-20: 100 students only $6,883,253.00 $3,502,246.00 $2,952,246.00 ~39 139
Amount Left Date Amount Spent 4/30/2019 $10,884,106 -$258,607 5/13/2019 $11,135,746 -$510,247 This is what we look at as the season goes along, AY 19-20 in real time: 7/11/2019 $11,427,063 -$801,564 7/26/2019 $11,197,533 -$572,034 7/31/2019 $11,452,432 -$826,933 8/8/2019 $11,300,293 -$674,794 8/15/2019 $11,100,150 -$474,651 9/12/2019 $10,480,177 $145,322 9/20/2019 $10,510,853 $114,646
Amount Left Date Amount Spent 4/30/2019 $10,884,106 -$258,607 5/13/2019 $11,135,746 -$510,247 First, we over- spend GASP to enroll new students for the Fall 7/11/2019 $11,427,063 -$801,564 Paying GASP for new Fall 2019 class 7/26/2019 $11,197,533 -$572,034 7/31/2019 $11,452,432 -$826,933 8/8/2019 $11,300,293 -$674,794 8/15/2019 $11,100,150 -$474,651 9/12/2019 $10,480,177 $145,322 9/20/2019 $10,510,853 $114,646
Amount Left Date Amount Spent 4/30/2019 $10,884,106 -$258,607 As students do not enroll, and grants pay $4337 in resident tuition, we become positive 5/13/2019 $11,135,746 -$510,247 7/11/2019 $11,427,063 -$801,564 7/26/2019 $11,197,533 -$572,034 7/31/2019 $11,452,432 -$826,933 8/8/2019 $11,300,293 -$674,794 8/15/2019 $11,100,150 -$474,651 GASP recovered as 1) grants pay tuition, 2) students do not 9/12/2019 $10,480,177 $145,322 9/20/2019 $10,510,853 $114,646 enroll
Amount Left Date Amount Spent 4/30/2019 $10,884,106 -$258,607 5/13/2019 $11,135,746 -$510,247 Next, we ll spend all of that and more on Spring 2020 new admits 7/11/2019 $11,427,063 -$801,564 7/26/2019 $11,197,533 -$572,034 7/31/2019 $11,452,432 -$826,933 8/8/2019 $11,300,293 -$674,794 8/15/2019 $11,100,150 -$474,651 Small amount for Spring 2020 new admits 9/12/2019 $10,480,177 $145,322 9/20/2019 $10,510,853 $114,646
F&A rate at UNC Charlotte is 51% In FY 18, $5,000,000 was paid for student stipends from grants That amount could provide up to $2,550,000 in F&A money, which is somewhere
