CREIGHTON UNIVERSITY 200708 Budget Presentation Board of Directors

CREIGHTON UNIVERSITY 2007/08 Budget Presentation Board of Directors Meeting June 4, 2007

2007/08 Operating Budget Overview n n n Represents a balanced budget for University operations, including the medical clinics Undergraduate enrollment sustained at near-record levels Undergraduate tuition & fee rate for new students up 6% (will be 15 th of 28 Jesuit colleges and universities) 2007/08 operating budget is $326 million, an increase of $14 million (4. 5%) from the current year estimate Medical School budget (including clinics) is 41% of the University’s total operating budget

2007/08 Operating Budget ($Millions)

2007/08 Revenue Highlights n n General undergraduate tuition and fee rate increased 6% Other tuition rate increases: Law 4%, Medicine 4. 5%, Dentistry 7. 3%, Pharmacy 5. 5%, OT/PT 4%, Graduate 2%, Summer & Univ. College 0% Room & board rates increased 4% Total enrollment budgeted to be basically even with the FY 07 record enrollment n Clinical activities and affiliate revenues are up 4. 2% n Endowment distribution of $9. 6 M is 1. 2% above FY 07

Annual Enrollment (Full-time Equivalent)

Fall New Student Enrollment (Full-time Equivalent)

Total Scholarships to Tuition/Fees (Includes Discount, Funded Aid & Employee Remissions)

Unrestricted Operating Gifts

Endowment CU only: does not include HFF ($91 Million at 4/30/07)

2007/08 Expense Highlights n Salary merit pool increase 3. 50% (plus. 25% for equity adjustments in each VP area): $4. 1 M n Targeted faculty salary enhancements: Pharmacy, Nursing, Dentistry ($547 K) n 8 new faculty: A&S, COBA, Dentistry ($540 K) n Jesuit & staff salary market adjustments ($310 K) n New programs in Dentistry & Nursing ($662 K)

2007/08 Expense Highlights n (cont. ) General non-salary increase 2. 0% for schools and administrative depts ($724 K) n Library materials increase $333 K (9%) n Arts & Sciences additions related to increased enrollment levels (PT faculty, tenure-track faculty start-up costs & other) $405 K n Increased diversity scholarships ($415 K - Medicine, Pharmacy/HP, Dentistry)

Salary Merit Pool Increases (Excludes targeted faculty salary enhancements in various schools)

Employee Benefits ($000’s)

School of Medicine 2007/08 Operating Budget Overview n Enrollment budgeted at 485 (down from est. 488 in 06/07) n Tuition increase held to 4. 5% to address student debt n Net clinic revenue projected at $98 M (5. 3% over 2006/07 budget & 6. 5% over estimated 06/07 results) n New chair in Medicine; actively recruiting for Anesthesiology n Clinic volume growth: 12 new faculty recruitments (Surgery, Radiology, Medicine & Anesthesiology) n Reflects reduced payments from CUMC under GME, Cardiac and medical lab agreements

School of Medicine 2007/08 Operating Budget ($Millions)

RECAP n Balanced n Less budget for FY 08 cushion in enrollment targets n Highest risk areas: medical clinic operations, health plan, utilities n Operating reserve expected to be adequate to cover potential variances