Budget Office
Budget Office Vision Statement:
The Budget Office will work across organizational lines to provide the campus community with fiscal information and analysis in a timely, reliable and professional manner. We will be leaders in implementing new methodologies for resource management. We will continually strive to improve ourselves through personal development, the use of new technologies, and accepting new challenges. We will value honesty, integrity, ethics, trust, campus culture, people and diversity.
Budget Office Mission Statement:
The mission of the Budget Office is to work with all segments of the university to deliver personalized budgetary and financial advice, taking advantage of the experience and expertise of the department. Give excellent customer service by assisting the university campus in planning and budgeting revenue and expenditures to make the best use of fiscal resources in a method that is consistent with guidelines instituted by the Board of Trustees. Provide accurate and timely monitoring, tracking and projection, and reporting of funds available to the university, maximizing the effectiveness and efficiency of educational and administrative operations.
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FY2013 ESTIMATED BUDGET |
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Revenue |
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FY2013 ESTIMATE |
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FY13 Budget-9500 FTE’s (Excludes Kean Ocean) 3.95% Tuition & Fee Increase |
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State Appropriations: |
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Base |
$32,837,000 |
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Total State Appropriations |
$32,837,000 |
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Tuition-Kean |
93,308,430 |
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Fees-Kean (Credit) |
42,754,983 |
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Fees-Kean (Non-Credit) |
3,042,664 |
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All Other Revenue |
2,902,705 |
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Total University Revenue |
$142,008,781 |
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TOTAL REVENUE (STATE & UNIVERSITY) |
$174,845,781 |
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Expenditures & Transfers |
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FY2013 ESTIMATE |
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Material & Supplies |
$14,500,000 |
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Services |
$15,500,000 |
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Maintenance & Fixed Charges |
$2,000,000 |
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Special Purpose |
$1,100,000 |
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Equipment & Improvements |
$3,100,000 |
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Teacher Preparation |
$600,000 |
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Liberty Hall |
$300,000 |
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Book Vouchers |
$80,000 |
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Administrative Bank Charges |
$1,000 |
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Bad Debt Expense |
$1,400,000 |
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Personal Leave Liability |
$0 |
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Sick Leave Liability |
$200,000 |
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Vacation Leave Liability |
$200,000 |
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Salaries |
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Salary-Others |
$4,400,000 |
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Regular |
$78,000,000 |
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Adjunct |
$17,800,000 |
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New Faculty and Lecturers |
$1,500,000 |
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Overtime/Snow Removal |
$1,000,000 |
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Overload |
$2,200,000 |
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Benefits |
$2,000,000 |
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Research and Development |
$2,294,000 |
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Stipends, Waivers & Scholarships |
$7,300,000 |
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Improvements |
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Campus Improvements |
$1,260,000 |
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Quality First Initiatives |
$60,000 |
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Total Expenditures |
$156,795,000 |
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Debt Service: |
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Equipment Leasing Fund |
69,193 |
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Series 1998B |
857,624 |
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Series 2007D |
1,555,668 |
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Series 2009A |
9,756,325 |
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Series 2000B Capital Improvement Fund |
584,517 |
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Series 2005B |
2,712,587 |
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Series 2010 CSTME Equipment |
1,239,425 |
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Series 2003D |
2,233,475 |
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Total Debt Service |
$19,008,814 |
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Capital Projects |
2,500,000 |
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Deferred Maintenance |
1,000,000 |
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Mandatory Transfers |
100,000 |
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TOTAL EXPENDITURES & TRANSFERS |
$179,403,814 |
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NET OPERATING RESULTS-MAIN CAMPUS |
($4,558,033) |
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KEAN/OCEAN-REVENUE |
$10,249,584 |
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KEAN/OCEAN-EXPENDITURES |
$3,900,000 |
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DISTANCE LEARNING PROJECT |
$620,000 |
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KEAN/OCEAN-DEBT SERVICE |
$1,099,613 |
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NET KEAN/OCEAN |
$4,629,971 |
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NET OPERATING RESULTS-UNIVERSITY |
$71,938 |
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Acting Director of budget:
Alyce Franklin-Owens
Administration Building, 2nd Floor
T: 908.737.3153
