Financial Summary Board of Trustees Presentation Overview
The financial summary board of trustees presentation on May 19, 2022, highlighted March year-to-date financial data, federal funding support for higher education, liquidity, reserves, outlook, major revenue and expense categories, actual versus budget variances, hospital operating expenses, and federal stimulus awards. The presentation emphasized careful communication, transparency, solid fiscal planning, and strategic investments for stability, viability, and growth. Key figures included in the presentation were revenue streams, expenses, state appropriations, and federal stimulus awards for the education sector.
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Presentation Transcript
Financial Summary Board of Trustees Presentation May 19, 2022
March YTD Financial Summary Federal Funding Support for Higher Education Liquidity and Reserves
March 2022 YTD Financial Summary
Outlook Careful Communication & Transparency March YTD March YTD FY2022 FY2022 Solid Fiscal Solid Fiscal Continued Improvement in Systems, Processes and Structure Financial Planning Focus on Stability, Viability, and Growth Mission & Values Performance and Performance and Outlook Outlook Safety, Wellness & Strategic Investments
March YTD FY22 Major Revenue Categories Excludes Hospital and SHIELD FY17-FY20 Average (Pre COVID-19) FY21 FY22 1,386 1,279 1,195 $ Millions 723 675 616 420 405 288 187 170 152 TUITION REVENUE GRANT REVENUE AUXILIARY REVENUE GIFT REVENUE March YTD FY22 Change FY17-FY20 Average 16.0% FY22 8.4% March YTD FY22 Change FY17-FY20 Average 17.4% FY22 7.2% March YTD FY22 Change FY17-FY20 Average 3.7% FY22 45.7% March YTD FY22 Change FY17-FY20 Average 23.1% FY22 9.6% State Appropriations FY22 $638 Million
March YTD FY22 Major Expense Categories Excludes Hospital and Shield FY17-FY20 Average (Pre COVID-19) FY21 FY22 1,660 1,632 1,457 $ Millions 674 618 605 475 404 289 COMPENSATION AND BENEFITS GENERAL AND PROFESSIONAL SERVICES FINANCIAL AID March YTD FY22 Change FY17-FY20 Average FY22 March YTD FY22 Change FY17-FY20 Average FY22 March YTD FY22 Change FY17-FY20 Average FY22 13.9% 1.7% 11.5% 9.1% 64.6% 17.5%
March YTD Actual March YTD Budget Variance Total Revenue $1,058 $1,003 5.5% March YTD March YTD FY2022 FY2022 Hospital Hospital Operating Expense -1,042 -988 -5.5% Operating Margin 16 15 8.3% $ Millions
Federal Funding Support for Higher Education
Summary of Federal Stimulus Awards as of March 31, 2022 FY20-FY22 ($ Millions) Hospital, Mile Square, MSP, 124 UIUC, 163 UIS, 12 UIC, 171 Total Awards: Total Student Aid: $ 470.32 million 147.21 million
Uses of Institutional and MSI Funds, FY20-FY22 $ Millions Fee refunds to students (including Housing), $33.3 Other Uses, $14.5 $29.5M expended FY20 Student Aid, $9.1 $74.4M expended in FY21 Distance/Hybrid Learning Hardware & Software, $6.9 COVID Campus Safety Related, $41.6 $64.0M expended in FY22 Faculty & Staff Training, $2.4 $167.9M Institutional + MSI Lost Revenues, $60.1 MSI Minority Serving Institution
Days Cash on Hand Average FY19-FY21 FY22 300 275 262 259 254 253 252 250 249 250 Days 230 236 217 225 232 228 225 221 221 220 219 219 218 216 200 207 175
Accumulate resources for capital projects including maintenance and renovations. Until recently, the State of Illinois had not appropriated funds for capital projects for over a decade. Critical Roles Critical Roles of Reserves of Reserves (savings) Critical source of liquidity. State of Illinois restricts borrowing for operating purposes and has limitations on sales of capital assets. Provide working capital to buffer the delay in appropriations from the state. The University System has had a state appropriation receivable of $350M-$450M on several occasions during the last few years. Flexibility for investment opportunities in support of our mission when they become available.
Unanticipated needs resulting from lower than expected inflows or unexpected outflows. Inflationary pressures and international uncertainties could impact cash flows. We need to protect our employees livelihoods during financial uncertainty. Critical Roles Critical Roles of Reserves of Reserves (continued) Public confidence, including bond ratings and debt covenant requirements. Transaction purposes, including multi-year projects.
Revenue growth through innovative education and inspirational research Fiscal Outlook is Promising Leverage state, federal, private and philanthropic support Collaborative and transparent communication Values Safety Careful financial planning, monitoring, and cost controls Liquidity Management: Responsible use of reserves
