5-YEAR FISCAL PLAN DRAFT
	1998-1999	1999-2000	1999-2000	2000-2001	2001-2002	2002-2003	2003-2004	2004-2005	2005-2006
	ACTUAL	BUDGET	PROJECTED	ACTUAL	PROJECTED
REVENUES
Tuition & Fees	########	########	########	9,554,633	10,254,684	11,276,154	12,644,469	14,056,949	15,662,710
Endowment	972,958	########	########	1,990,568	2,413,010	2,585,610	2,714,891	2,850,635	2,993,167
Gifts & Grants	########	########	########	2,642,029	2,274,553	2,000,000	2,060,000	2,121,800	2,206,672
Miscellaneous	395,183	244,000	244,000	510,439	693,851	665,000	698,250	733,163	769,821
TOTAL E & G REVENUES	########	########	########	14,697,669	15,636,098	16,526,764	18,117,610	19,762,546	21,632,369
Dining Hall	992,406	########	990,005	1,036,921	1,084,292	1,169,382	1,512,680	1,809,878	1,900,371
Dormitories	815,701	869,478	767,736	805,444	1,028,110	1,309,798	1,452,653	1,580,052	1,659,054
Bookstore	104,800	50,000	495,010	569,911	556,266	556,266	584,079	613,283	643,947
Other Auxiliary Revenues	21,606	78,000	84,000	161,460	305,000	311,000	320,330	329,940	339,838
TOTAL AUXILIARY REVENUES	########	########	########	2,573,736	2,973,668	3,346,446	3,869,743	4,333,153	4,543,211
TOTAL REVENUES	########	########	########	17,271,405	18,609,766	19,873,210	21,987,353	24,095,699	26,175,581
INSTITUTIONAL AID	########	########		2,974,318	3,162,607	3,226,585	4,046,230	4,498,224	5,168,694
OPERATIONAL EXPENDITURES	########	########	########	6,192,339	6,459,338	6,810,294	7,014,603	7,225,041	7,441,792
SALARIES & BENEFITS	########	########	########	8,091,295	8,983,078	9,823,615	10,598,518	11,468,872	12,450,059
Salaries	########	########	########	6,570,361	7,133,776	7,657,048	8,116,471	8,603,459	9,119,667
Professional Discount				311,507	278,000	297,460	315,308	334,226	354,280
FICA	333,392	444,550	434,778	476,297	543,821	585,764	618,719	655,842	695,192
Group Insurance	372,280	557,170	558,948	488,862	756,528	987,131	1,233,913	1,542,392	1,927,989
Retirement	158,467	198,534	193,245	244,268	270,953	296,212	314,107	332,954	352,931
TOTAL EXPENDITURES	#REF!	#REF!	#REF!	17,257,952	18,605,023	19,860,494	21,659,351	23,192,137	25,060,545
STRATEGIC INITIATIVES							-	900,000	1,050,000
DEBT SERVICE							308,684		42,379
REVENUES OVER/UNDER EXPENDITURES	#REF!	#REF!	#REF!	13,453	4,743	12,716	19,318	3,562	22,656
Revenue Assumptions:
% tuition increase				6.0%	6.0%	7.0%	6.0%	6.0%	6.0%
FT tuition rate	10,389	11,001		11,660	12,360	13,225	14,018	14,859	15,751
HC	1,003	995		920	947	964	1,025	1,075	1,130
5% endowment return
% gifts and grants increase					-13.9%	-12.1%	3.0%	3.0%	4.0%
% room and board revenue base increase					6.0%	7.0%	7.0%	8.0%	5.0%
Residents				384	411	460	510	565	565
Room rate				2,115	2,260	2,420	2,589	2,797	2,936
Board rate				2,730	2,876	3,080	3,296	3,559	3,737
Expenditure Assumptions:
Increase institutional aid to 33%	27.4%	29.0%	0.0%	31.1%	31.3%	29.0%	32.0%	32.0%	33.0%
% increase in current operational					0.0%	0.0%	3.0%	3.0%	3.0%
% increase in salaries				6%	6.0%	3.5%	6.0%	6.0%	6.0%
% increase in group insurance					0.0%	25.0%	25.0%	25.0%	25.0%
Strategic Initiatives
Salaries & Benefits
Add 3 new faculty and 2 new staff annually
Increase salaries to benchmarks
Staff Core program
Establish sabbatical program
Assure at least 3 faculty per academic major
Reduce teaching load
Institutional Aid
Increase discount rate to 35%
Increase funding for scholarships
Academics
Increase library spending
Student Life
Increase funding for student life initiatives
Campus-wide
Increase operating budgets
Provide adequately for technology
Establish and maintain a recycling program
Financial
Establish and maintain a maintenance reserve
Budget annually for capital expenditures
Budget annually for contingencies