January 25, 2024
Thursday, January 25, 2024, 8 a.m. meeting; John Bardo Center, Room 164; 1800 N. Innovation Blvd, Wichita, KS 67260
In attendance were Keith Lawing, Laurie Labarca, Nancy McCarthy Snyder, Aaron Bastian, Tracee Adams, Kevin McWhorter, Dan Rouser, Connie Dietz, and Junetta Everett. Also in attendance were Andy Schlapp, Dr. Rick Muma, Jeff Degraffenreid, Troy Bruun, Michelle Locke, Jana Macek, Werner Golling, Emily Patterson, and Susan Johnson.
Agenda
Agenda
- CAMPUS MASTER PLAN PRESENTATION 鈥� EMILY PATTERSON
- APPROVAL OF BOARD MEETING MINUTES SEPTEMBER 14 & NOVEMBER 9, 2023 鈥� LABARCA
- FINANCE AND AUDIT REPORT 鈥� MCCARTHY SNYDER
- - FOUNDATION INVESTMENT REPORT
- - INFRASTRUCTURE INVESTMENTS REVIEW
- - MILL LEVY BUDGET & YEAR TO DATE REVENUE & EXPENDITURES
- - OPERATING BUDGET (BOT UNRESTRICTED)
- - REVENUE & EXPENDITURES-FINANCIAL PLAN REVIEW
- - BOARD INITIATIVES BUDGET REVIEW
- IV. BY-LAWS DISCUSSION - SCHLAPP
- WICHITA STATE UNIVERSITY/BIOMEDICAL CENTER UPDATE 鈥揗UMA
- AS MAY ARISE
Minutes
Upcoming BOT Meeting Dates:
- Thursday, April 11, 2024 8-10:30 am John Bardo Center, Rm 164
- Thursday, July 11, 2024 8-10:30 am John Bardo Center, Rm 164
- Thursday, September 12, 2024 8-10:30 am John Bardo Center, Rm 164
INTRODUCTIONS
Labarca welcomed new general counsel, Jeff Degraffenreid and asked Board members to introduce themselves, and he shared his background.
CAMPUS MASTER PLAN PRESENTATION
Emily Patterson shared the 萝莉社 10-year Campus Master Plan with the board.
The guiding principles for the process were:
- Be the Engine for Innovation (Showcase the evolution happening on campus)
- Foster a Holistic Culture (Unify the 萝莉社 experience across campuses and buildings)
- Think Beyond the Classroom (Build an 18hr Campus)
There were 5 Key Analytical Findings
- Highly Utilized Teaching Buildings Require the Most Work
- Quality Laboratory Space is Lacking on Campus
- College Are Highly Distributed Across Multiple Buildings
- Older Buildings are Lacking Student Support Spaces
- Office Area Per Person Is High Compared to Industry Standards
Patterson discussed the Framework 鈥� New Program Map of Campus detailing future building sites. Meetings will be held to share this information with campus, partners, and community to build collaboration and excitement for this bold plan.
APPROVAL OF MINUTES
Labarca motioned to approve the minutes from September 14 and November 9, 2023. Bastian seconded and the motion passed.
FINANCE & AUDIT REPORT
Bruun reviewed all the finance reports and handed out copies of the Board鈥檚 FY 2023 Independent Auditor鈥檚 Report and Annual Statements. Dietz motioned to approve the reports, and McCarthy Snyder seconded. Authorization for Bruun to approve project invoices was motioned by Rouser and seconded by Everett.
BY-LAWS DISCUSSION
Schlapp discussed the need for the By-Laws to be reviewed and updated. The board agreed to have Degraffenreid accomplish this update.
WICHITA STATE UNIVERSITY UPDATE
Muma discussed enrollment with major focus on retention and increased enrollment numbers. He discussed the Cessna Stadium project timeline and next steps.
- 萝莉社 is rejecting the lone bid, then re-advertising for a construction manager to facilitate a more competitively bid project.
- To facilitate a more competitively bid project, 萝莉社 will re-advertise for a construction manager at risk, and work to obtain more competitive bids within the project packages, prior to a June 1, 2024, project start, inclusive of scope contained in Phases 1A & 1B.
- 萝莉社 will work with KSHSAA to setup more than adequate team camp area, temporary bleachers, and restrooms on the east side, to host a first-class 2024 State High School Track meet, negotiating a financial benefit to KSHSAA, given recent events and pending adjustment to timeline. Within available tools and resources, we will do whatever it takes to keep 2024 State Track in Wichita.
He shared a Wichita Biomedical Center handout and presentation with new renderings of the building and discussed the increased development in the surrounding core area. Wilkins Softball Stadium is on track with phase 1-2 starting this summer. The Shocker Success Center will open Fall 2024. The Marcus Welcome Center addition will be completed next month. He discussed the HUB for Advanced Manufacture which will be constructed southwest of Woolsey. Muma announced that 萝莉社 research expenditures have increased 24% since 2020, mostly in industry led research, raising 萝莉社 University to #13 in Engineering Research & Development in the United States.
The board would like an update of the NISS (National Institute for Student Success) enrollment report and student demographics at the April meeting. Labarca adjourned the meeting at 9:50 am.
Respectfully submitted,
Susan Johnson
Assistant Secretary
Meeting Materials
< Agenda >
< Meeting Minutes from September 14, 2023, and November 9, 2023 >
FY2024 Performance
| Composite | 1.0% estimated | as of November 30, 2023 |
| Target Weighted Benchmark | 1.2% |
Historical Investment Returns
| Fiscal Year | Calendar Year | |
| 2024 | 1.0% | N/A |
| 2023 | 6.5% | 5.0% |
| 2022 | 1.5% | -7.6% |
| 2021 | 24.9% | 16.3% |
| 2020 | -3.0% | 6.4% |
| 2019 | 3.9% | 14.6% |
| 2018 | 7.2% | Not available (transition to new investment providers |
| 2017 | 10.4% | 12.1% |
| 2016 | -3.8% | 7.2% |
| 2015 | 0.4% | 3.2% |
| 2014 | 14.5% | 2.4% |
| Five Year Annualized Return | 6.6% |
| Balance of all BOT Funds as of 12/31/2023 | 12/31/2023 | 6/30/2023 |
| Gore separately invested fund | $4,688,505 | $4,615,093 |
| Scholarship funds invested in endowed pool | $7,606,467 | $7,615,304 |
萝莉社Board of Trustees Infrastructure investments
- FY 1965 鈥� Cessna Stadium and Henry Levitt Arena $418,582 annual bond payment
- FY 1967 鈥� Crestview Country club golf course purchase $1,650,000
- FY 1977 鈥� Child Development Center and Physical Plant Building
- FY 1984 鈥� Weideman Recital Hall
- FY 1985 鈥� Refund existing debt of 萝莉社
- FY 1987 鈥� NIAR, Physical Plant buildings, and Center for Entrepreneurship
- FY 1988 - Woodman Alumni Center, Child Development Center, Golf Pro shop, and golf maintenance building
- FY 1992 鈥� Refund FY 1987 bonds, FY 1988 bonds and Elliott Hall Journalism and Speech Communications: $19,665,000
- FY 1997 - Cessna Stadium Improvements: $2,200,000
- FY 1999 鈥� Eck Stadium Project: $3,500,000
- FY 2001 - Refund FY 1992 and FY 1999 bonds: $17,295,000
- FY 2013 鈥� Refund FY 2001 bonds: $5,375,000
- FY 2014 鈥� Bonds for John Bardo Center: $44,945,000
- FY 2017 鈥� $2,500,000 for Student Athlete Center
- FY 2018 鈥� 22 - University Infrastructure
- 600,000 for construction of 18th Street
- 600,000 for Law Enforcement Training Center parking lots and related dirt work on the innovation campus
- 1,200,000 for architectural/engineering fees associated with NIRDT
- 1,600,000 for pond improvements and Deloitte energy sustainability project
- FY 2019 鈥� 21 - $5,000,000 for Health and Wellness Center
- FY 2022 鈥� NIRDT - $532,000 annual bond payment for NIRDT ($15,960,000)
- FY 2024 鈥� Softball Stadium Project: $3,000,000
- FY 2024 鈥� Bonds for University Stadium Project: $11,040,000
萝莉社Board of Trustees
City of Wichita / Sedgwick County Mill Levy Budget
Fiscal Year 2024
| Revenues | Fiscal Year 2024 Budget | Expenditures as of 12/31/23 | Budget Remaining | Percent of Budget Expended |
|---|---|---|---|---|
| Mill Levy | $9,750,000 | $5,108,867 | $4,641,133 | 52.4% |
| Interest | $80,000 | $158,174 | $(78,174) | 197.7% |
| Contingent Mill Levy | $500,000 | 鈥� | $500,000 | 0.0% |
| Total Revenues | $3,837,877 | $3,000,000 | $837,877 | 78.2% |
| Expenditures | Fiscal Year 2024 Budget | Expenditures as of 12/31/23 | Budget Remaining | Percent of Budget Expended |
|---|---|---|---|---|
| Capital Improvements | ||||
| Debt Service 鈥� WSIA Series 2014鈥�3(2054) | $1,748,359 | $874,179 | $874,180 | 50.0% |
| Debt Service 鈥� WSIA Series 2014鈥�4(2027) | 750,068 | 45,034 | 705,034 | 6.0% |
| Debt Service Admin Fees | 4,240 | &苍产蝉辫;鈥� | 4,240 | 0.0% |
| Contribution to 萝莉社 NIRDT Debt Service | 532,000 | 532,000 | &苍产蝉辫;鈥�&苍产蝉辫; | 100.0% |
| Contribution for KDFA Series 2023J Debt Service | 862,430 | &苍产蝉辫;鈥� | 862,430 | 0.0% |
| Cost of Issuance 萝莉社 Series 2023J | 鈥�&苍产蝉辫; | 225,000 | (225,000) | N/A |
| Total Capital Improvements 37.7% | $3,897,097 | $1,676,213 | $2,220,884 | 43.0% |
| Student Support | ||||
| 萝莉社 Tech Support | $800,000 | $400,000 | $400,000 | 50.0% |
| Undergraduate Support | $4,109,273 | $281,583 | $3,827,690 | 6.9% |
| Graduate Support | $411,197 | &苍产蝉辫;鈥� | $411,197 | 0.0% |
| Public Policy & Management Center Support | $40,326 | 鈥� | $40,326 | 0.0% |
| Total Student Support 51.9% | $5,360,796 | $681,583 | $4,679,213 | 12.7% |
| Economic and Community Development | ||||
| &苍产蝉辫;滨苍迟别谤苍蝉鈥怌颈迟测/颁辞耻苍迟测&苍产蝉辫; | $141,494 | $137,360 | $4,134 | 97.1% |
| Business and Economic Research | $156,060 | $81,030 | $75,030 | 51.9% |
| City Government Services | $104,040 | $7,395 | $96,645 | 7.1 % |
| County Government Services | $104,040 | $50,310 | $53,730 | 48.4% |
| Total Economic and Community Dev 4.9% | $505,634 | $276,095 | $229,539 | 54.6% |
| University Research and Support Services | ||||
| Organization and Development | 459,303 | $21,917 | $37,386 | 37.0% |
| University Strategic Initiatives | $7,170 | 鈥� | $7,170 | 0.0% |
| Total University Research and Support 0.6% | $66,473 | $21,917 | $44,556 | 33.0% |
| Contingency | ||||
| Contingency | $500,000 | 鈥� | $500,000 | 0.0% |
| Total Contingency 4.8% | $500,000 | 鈥� | $500,000 | 0.0% |
| Total Expenditures | 10,330,000 | 2,655,809 | 7,674,191 | 25.7% |
萝莉社Board of Trustees
Operating Budget
Fiscal Year 2024
| Expenditures | Fiscal Year 2024 Budget | Expenditures as of 12/31/23 | Budget Remaining | Percent of Budget Expended |
|---|---|---|---|---|
| General and Administrative | ||||
| Professional Fees | 30,000 | 17,325 | 12,675 | 57.8% |
| Insurance | 15,000 | 鈥� | 15,000 | 0.0% |
| Bank Fees | 9,000 | 4,451 | 4,549 | 49.5% |
| Other | 5,303 | 142 | 5,161 | 2.7% |
| Strategic Initiatives | 7,170 | 鈥� | 7,170 | 0.0% |
| Total Expenditures | $66,473 | $21,917 | $44,556 | 33.0% |
萝莉社Board of Trustees
City of Wichita/Sedgwick County Mill Levy Financial Plan
Click image to see larger version
萝莉社Board of Trustees
Board Initiatives Fund Financial Plan
Click image to see larger version
萝莉社Board of Trustees
Board Initiatives Fund Fiscal Year 2024 Budget
| Revenues | Fiscal Year 2024 Budget | Expenditures as of 12/31/23 | Budget Remaining | Percent of Budget Expended |
|---|---|---|---|---|
| Mill Levy Board Initiatives | $7,170 | 鈥� | $7,170 | 0.0% |
| Total Revenues | $7,170 | 鈥� | $7,170 | 0.0% |
| Revenues | Fiscal Year 2024 Budget | Expenditures as of 12/31/23 | Budget Remaining | Percent of Budget Expended |
| Board Initiatives | $3,837,877 | $3,000,000 | $837,877 | 78.2% |
| Total Revenues | $3,837,877 | $3,000,000 | $837,877 | 78.2% |
April 11, 2024
Thursday, April 11, 2024, 8 a.m. - John Bardo Center, Room 164, 1815 Innovation Blvd. Wichita, KS 67208
In attendance were Laurie Labarca, Nancy McCarthy Snyder, Aaron Bastion, Kevin McWhorter, Keith Lawing, Connie Dietz, Junetta Everett, Tracee Adams. Dan Rouser joined by phone. Also in attendance were Andy Schlapp, Troy Bruun, Jeff DeGraffenreid and Susan Johnson.
Laurie Labarca called meeting to order at 8 a.m.
Agenda
Agenda
- STUDENT SUCCESS AND PERSISTENCE UPDATE 鈥� SHIRLEY LEFEVER
- APPROVAL OF BOARD MEETING MINUTES JANUARY 25, 2024 鈥� LABARCA
- FINANCE AND AUDIT REPORT 鈥� MCCARTHY SNYDER
- FOUNDATION INVESTMENT REPORT
- INFRASTRUCTURE INVESTMENTS REVIEW
- FY 2024 BUDGET TO ACTUAL AS OF END OF MARCH
- MILL LEVY
- BOARD OPERATING
- BOARD INITIATIVES
- FY 2025 BUDGET
- MILL LEVY
- BOARD OPERATING
- BOARD INITIATIVES
- MILL LEVY BUDGET NARRATIVE
- REVENUE & EXPENDITURES- FINANCIAL PLAN REVIEW
- WICHITA STATE UNIVERSITY UPDATE 鈥揝CHLAPP
- AS MAY ARISE
Minutes
Student Success and Persistence Update
Dr. Shirley Lefever updated the board on the Shocker student success center remodel located in Cliton Hall. She shared that the goal of the center was to equalize the six-year graduation rate for all students, focusing on students who are most at risk first-generation, low income and underrepresented populations. The Shocker student success center will become the 鈥渙ne stop鈥� for student services. A question was asked about applied learning and its location on campus. The Career accelerator will be moving to the Marcus Welcome Center so new students can look at job opportunities while being admitted into the University. The board asked for a tour of both the student success center and the welcome Center when construction is completed.
Approval of Board Meeting Minutes
Keith Lawing motioned to approve the minutes from January 25, 2024, seconded by Aron Bastion, motion passed.
Finance & Audit Report
Nancy McCarthy Snyder asked Troy Bruun to review the financial reports with the board. He reviewed the foundation investment report, infrastructure review, Fy 2024 budget to actual review, and the 10-year financial plan. Bruun then presented the FY2025 BOT budget for approval. Kevin McWhorter asked how priorities were determined with the City and County. Andy Schlapp gave a history of how we got to this point with priorities of Capital improvements and scholarships. Essentially the BOT budget is a 60-year living document that has changed with the needs of the community we serve. Currently capital improvements are around 34% of the budget and scholarships around 50% of budget and excess funds are directed to fund presidential priorities. Connie Dietz moved to approve FY 2025 budget, seconded by Junetta Everett, and motioned passed.
University Update
Andy Schlapp gave an update on what is happening at 萝莉社. Much of the discussion focused on Students and how we can help grow the economy and provide the talent needed for the Kansas Workforce. Over 70% of 萝莉社 graduates take jobs in Kansas but more importantly 50% of students from outside of Kansas take jobs in Kansas when they graduate. The national average is around 20. The success of retaining our talent in Kansas through applied learning has been recognized by the State and they funded our program with an additional $5 million dollars.
Draft Minutes
The Wichita Biomedical Campus was funded at 205 million dollars. The groundbreaking will be May 8 at 11 a.m.. USD 259 will develop a future ready center for health care located in the Biomedical corridor.
The Hub for additive manufacturing and research building also received $16 million from the State added to the over $60 million from the Build Back Better Federal Grant. The project will break ground in June of this year. A question was asked if 萝莉社 was part of the Spirit Boeing Conversation. While we are not officially involved in the conversations, we are an interested party and are available to answer research and talent questions when asked.
Respectfully submitted,
Junetta Everett, Board Secretary
Meeting Materials
萝莉社Board of Trustees
<<< JAN. 25 MINUTES (SEE ABOVE) >>>>
萝莉社Board of Trustees Infrastructure investments
- FY 1965 - Cessna Stadium and Henry Levitt Arena $418,582 annual bond payment
- FY 1967 - Crestview Country club golf course purchase $1,650,000
- FY 1977 - Child Development Center and Physical Plant Building 鈥� FY 1984 - Weideman Recital Hall 鈥�
- FY 1985 - Refund existing debt of 萝莉社
- FY 1987 - NIAR, Physical Plant buildings, and Center for Entrepreneurship
- FY 1988 - Woodman Alumni Center, Child Development Center, Golf Pro shop, and golf maintenance building
- FY 1992 - Refund FY 1987 bonds, FY 1988 bonds and Elliott Hall Journalism and Speech Communications: $19,665,000
- FY 1997 - Cessna Stadium Improvements: $2,200,000
- FY 1999 - Eck Stadium Project: $3,500,000
- FY 2001- Refund FY 1992 and FY 1999 bonds: $17,295,000
- FY 2013 - Refund FY 2001 bonds: $5,375,000
- FY 2014 - Bonds for John Bardo Center: $44,945,000
- FY 2017 - $2,500,000 for Student Athlete Center
- FY 2018 - 22 - University Infrastructure
- 600,000 for construction of 18th Street
- 600,000 for Law Enforcement Training Center parking lots and related dirt work on the innovation campus
- 1,200,000 for architectural/engineering fees associated with NIRDT
- 1,600,000 for pond improvements and Deloitte energy sustainability project
- FY 2019 - 21 - $5,000,000 for Health and Wellness Center
- FY 2022-NIRDT - $532,000 annual bond payment for NIRDT ($15,960,000)
- FY 2024 - Softball Stadium Project: $3,000,000
- FY 2024 - Bonds for University Stadium Project: $11,040,000
萝莉社Board of Trustees
City of Wichita / Sedgwick County Mill Levy Budget
Fiscal Year 2024
| Revenues | Fiscal Year 2024 Budget | Expenditures as of 12/31/23 | Budget Remaining | Percent of Budget Expended |
|---|---|---|---|---|
| Mill Levy | $9,750,000 | $5,108,867 | $4,641,133 | 52.4% |
| Interest | $80,000 | $158,174 | $(78,174) | 197.7% |
| Contingent Mill Levy | $500,000 | 鈥� | $500,000 | 0.0% |
| Total Revenues | $3,837,877 | $3,000,000 | $837,877 | 78.2% |
萝莉社Board of Trustees
Operating Budget
Fiscal Year 2024
| Expenditures | Fiscal Year 2024 Budget | Expenditures as of 12/31/23 | Budget Remaining | Percent of Budget Expended |
|---|---|---|---|---|
| General and Administrative | ||||
| Professional Fees | 30,000 | 17,325 | 12,675 | 57.8% |
| Insurance | 15,000 | 鈥� | 15,000 | 0.0% |
| Bank Fees | 9,000 | 4,451 | 4,549 | 49.5% |
| Other | 5,303 | 142 | 5,161 | 2.7% |
| Strategic Initiatives | 7,170 | 鈥� | 7,170 | 0.0% |
| Total Expenditures | $66,473 | $21,917 | $44,556 | 33.0% |
萝莉社Board of Trustees
Board Initiatives Fund Fiscal Year 2024 Budget
| Revenues | Fiscal Year 2024 Budget | Expenditures as of 12/31/23 | Budget Remaining | Percent of Budget Expended |
|---|---|---|---|---|
| Mill Levy Board Initiatives | $7,170 | 鈥� | $7,170 | 0.0% |
| Total Revenues | $7,170 | 鈥� | $7,170 | 0.0% |
| Revenues | Fiscal Year 2024 Budget | Expenditures as of 12/31/23 | Budget Remaining | Percent of Budget Expended |
| Board Initiatives | $3,837,877 | $3,000,000 | $837,877 | 78.2% |
| Total Revenues | $3,837,877 | $3,000,000 | $837,877 | 78.2% |
萝莉社Board of Trustees
City of Wichita / Sedgwick County Mill Levy Budget
Fiscal Year 2025
| Revenues | Fiscal Year 2025 Budget | Fiscal Year 2024 Budget | Budget Increase (Decrease) | FY 2023 Actual |
|---|---|---|---|---|
| Mill Levy | $10,686,334 | $9,750,000 | $936,334 | $9,458,858 |
| Interest | $10,000 | $80,000 | $(70,000) | $252,454 |
| Contingent Mill Levy | $500,000 | $500,000 | 鈥� | 鈥� |
| Total Revenues | $11,196,334 | $10,330,000 | $866,334 | $9,711,312 |
| Expenditures | Percent of Budget | Fiscal Year 2025 Budget | Fiscal Year 2024 Budget | Budget Increase (Decrease) | Fiscal Year 2024 Actual |
|---|---|---|---|---|---|
| Capital Improvements | |||||
| Debt Service 鈥� WSIA Series 2014鈥�3(2054) | $1,748,359 | $1,748,359 | &苍产蝉辫;鈥�&苍产蝉辫; | $1,748,359 | |
| Debt Service 鈥� WSIA Series 2014鈥�4(2027) | $747,298 | $750,068 | ($2,770) | $750,068 | |
| Debt Service Admin Fees | $6,740 | $4,240 | $2,500 | $4,240 | |
| Contribution to 萝莉社 NIRDT Debt Service | $532,000 | $532,000 | &苍产蝉辫;鈥�&苍产蝉辫; | $532,000 | |
| Contribution for University Stadium Debt Service | $823,800 | $862,430 | ($38,630) | &苍产蝉辫;鈥�&苍产蝉辫; | |
| Total Capital Improvements | $34.5% | $3,858,197 | $3,897,097 | ($38,900) | $3,035,466 |
| Student Support | |||||
| 萝莉社 Tech Support | $800,000 | $800,000 | &苍产蝉辫;鈥�&苍产蝉辫; | $800,000 | |
| Undergraduate Support | $4,191,458 | $4,109,273 | $82,185 | $4,084,220 | |
| Graduate Support | $419,458 | $411,197 | $8,224 | $403,134 | |
| Public Policy & Management Center Support | $41,133 | $40,326 | $807 | $39,535 | |
| Total Student Support | 48.7% | $5,452,012 | $5,360,796 | $91,216 | $5,326,889 |
| Economic and Community Development | |||||
| &苍产蝉辫;滨苍迟别谤苍蝉鈥怌颈迟测/颁辞耻苍迟测&苍产蝉辫; | $144,324 | $141,494 | $2,830 | &苍产蝉辫;鈥�&苍产蝉辫; | |
| Business and Economic Research | $159,181 | $156,060 | $3,121 | $150,000 | |
| City Government Services | $106,121 | $104,040 | $2,081 | $147,925 | |
| County Government Services | $106,121 | $104,040 | $2,081 | $31,874 | |
| Total Economic and Community Dev | 4.6% | $515,747 | $505,634 | $10,113 | $329,799 |
| Board Support Services | |||||
| Organization and Development | $60,489 | $59,303 | $1,186 | $40,580 | |
| University Strategic Initiatives | $809,889 | $7,170 | $802,719 | &苍产蝉辫;鈥�&苍产蝉辫; | |
| Total Board Support Services | 7.8% | $870,378 | $66,473 | $803,905 | $40,580 |
| Contingency | |||||
| Contingency | $500,000 | $500,000 | &苍产蝉辫;鈥�&苍产蝉辫; | &苍产蝉辫;鈥�&苍产蝉辫; | |
| Total Contingency | 4.5% | $500,000 | $500,000 | &苍产蝉辫;鈥�&苍产蝉辫; | &苍产蝉辫;鈥�&苍产蝉辫; |
| Total Expenditures | $11,196,334 | $10,330,000 | $866,334 | $8,732,735 |
萝莉社Board of Trustees
Board Support Services
Fiscal Year 2025 Budget
| Expenditures | Percent of Budget | Fiscal Year 2025 Budget | Fiscal Year 2024 Budget | Budget Increase (Decrease) | Fiscal Year 2024 Actual |
|---|---|---|---|---|---|
| General and Administrative | |||||
| Professional Fees | $35,000 | $30,000 | $5,000 | $25,308 | |
| Insurance | $10,000 | $15,000 | ($5,000) | $5,405 | |
| Bank Fees | $12,000 | $9,000 | $3,000 | $9,127 | |
| Other | $3,489 | $5,303 | ($1,814) | $740 | |
| Strategic Initiatives | $809,889 | $7,170 | $802,719 | &苍产蝉辫;鈥�&苍产蝉辫; | |
| Total Expenditures | $870,378 | $66,473 | $803,905 | $40,580 |
萝莉社Board of Trustees
Board Initiatives Fund Fiscal Year 2025 Budget
| Revenues | Fiscal Year 2025 Budget | Fiscal Year 2024 Budget | Budget Increase (Decrease) | Fiscal Year 2023 Actual |
|---|---|---|---|---|
| Mill Levy Board Initiatives | $809,889 | $7,170 | $802,719 | $1,430,772 |
| Total Revenues | $809,889 | $7,170 | $802,719 | $1,430,772 |
| Expenditures | Fiscal Year 2025 Budget | Fiscal Year 2024 Budget | Budget Increase (Decrease) | Fiscal Year 2023 Actual |
| Board Initiatives | $1,323,507 | $3,837,877 | ($2,514,370) | &苍产蝉辫;鈥�&苍产蝉辫; |
| Total Expenditures | $1,323,507 | $3,837,877 | ($2,514,370) | &苍产蝉辫;鈥�&苍产蝉辫; |
FISCAL YEAR 2025 WICHITA STATE UNIVERSITY CITY-COUNTY MILL LEVY BUDGET REQUEST
Capital Improvements - $3,858,197
John Bardo Center - $2,499,897
Principal and interest payable on Sedgwick County Public Building Commission revenue bonds issued for the construction of the John Bardo Center and related infrastructure total $2,495,657 in FY 2025. In addition to debt service, this budget also pays annual administrative fees of $4,240 to the Bond Trustee. Final maturity on outstanding bonds is February 1, 2054.
National Institute for Research and Digital Transformation - $532,000
The Board contributes $532,000 to the University each year to service debt related to Series 2021L revenue bonds issued by 萝莉社 and KDFA in July 2021 to fund construction. The University funds approximately $100,000 of the annual debt service. Final maturity for Series 2021L bonds is June 1, 2051.
University Stadium - $826,300
Principal and interest payable on KOFA Series 2023J revenue bonds issued for the construction of Phase I of the University Stadium project. The project will modernize and transform University track and field programs and possibly accommodate a future Shocker soccer program. Beyond athletics, the new stadium will double as a state-of-the-art entertainment venue for live concerts from artists in the campus community and notable national entertainers. In addition to debt service, this budget also pays annual administrative fees of $2,500 to the Bond Trustee. Final maturity on outstanding bonds is June 1, 2043.
Student Support - $5,452,012
萝莉社 Tech Support - $800,000
In prior years, Sedgwick County received this support from the Board of Trustees to offset a portion of the County's debt service for the National Center for Aviation Training. Since WATC is now 萝莉社 Tech, the County has eliminated their operating support of WATC, the Board of Trustees has eliminated support for the County's debt service and redirected this support directly to 萝莉社 Tech . No change is requested in this budget item for Fiscal Year 2025.
萝莉社Undergraduate Support - $4,191,458
In October of 2013, President Bardo announced a new scholarship program for Wichita State University. 萝莉社 will become more assertive about (1) offering scholarship money, and (2) offering scholarships earlier to a larger number of prospective students. Funds from the City-County Mill Levy will be a key factor in the implementation and success of this new program. Support for undergraduate students will be dispersed in four types of scholarships: Freshman Merit, Honors College, National Merit, and Transfer Merit. Funds from the Mill Levy will be targeted primarily to students who are Sedgwick County residents. A two percent ($82,185) increase is requested in this budget item for Fiscal Year 2025.
萝莉社Graduate Support - $419,421
Support for the Graduate School is targeted to assist graduate students studying for the Master of Public Administration degree, doctoral or master's studies in areas directly affecting local industry or the public sector. Funding also used to recruit graduate research assistants to assist faculty-directed projects that have received or have a strong potential to receive external grant funding in areas that have applications to business, industry, and social agencies in Wichita/Sedgwick County. A two percent increase ($8,224) is requested in this budget item for Fiscal Year 2025.
Public Policy and Management Center - $41,133
Budget for the Public Policy and Management Center funds graduate assistants who provide direct support to local governments, nonprofits, and community activities in Sedgwick County. The assistance comes in the form of research, professional development and community engagement through applied learning experiences directed by the Center staff. Graduate assistants at the Public Policy and Management Center work with faculty from multi-disciplines including public administration, social work, community psychology, business, criminal justice, and others. The experience the graduate assistants receive by working at the Public Policy and Management Center prepares them for a career in public service and provides director support to nonprofit and local government organizations in Sedgwick County seeking assistance from the Center. A two percent increase ($807) is requested for Fiscal Year 2025.
Economic and Community Development - $515,747
Funding for Economic and Community Development activities allows 萝莉社 University to continue expanding its involvement with the City of Wichita and Sedgwick County through education and training programs in support of economic development. The funding also provides opportunities to utilize faculty expertise in the analysis of community issues in partnership with the City and County, utilize student internships related to specific local needs and provide services related to maintaining and analyzing important socio-economic databases.
Interns-City/County - $144,324
The City/County intern program is directed by the Hugo Wall School of Urban and Public Affairs and is used to enhance the learning experience of four Master of Public Administration students through internships with the City of Wichita and Sedgwick County. A two percent increase ($2,830) is requested for Fiscal Year 2025.
Business and Economic Research - $159,181
In 1999, the City of Wichita asked the Center for Business and Economic Research at 萝莉社to expand its research capabilities to provide Geographic Information System (GIS) services. In 2005, the Center was asked by the City of Wichita, Sedgwick County, and the Greater Wichita Economic Development Coalition (GWEDC) to expand its research capabilities and services by developing, maintaining, and operating the South-Central Kansas Economic and Fiscal Impact Model. The city, county and GWEDC have asked the Center to maintain most databases on a county-by-county basis for a ten county service area, as economic development has become a more regional endeavor. The Center has expanded its research, forecasting, database management and economic modeling to better serve business, industry, government, and non-profit groups throughout south-central Kansas. Through its research and programs, the Center has established a reputation for efficient, timely, reliable, and customer-friendly services. The Center contributes directly to the economic development efforts of Wichita, Sedgwick County and Kansas. Beginning January 1, 2017, all Business and Economic Research expenditures are also approved by the Greater Wichita Partnership. A two percent increase ($3,121) is requested for Fiscal Year 2025.
City Government Services - $106,121
萝莉社provides technical assistance and training to support the mission of the City of Wichita. Expertise of faculty, staff and students will be used to respond quickly to requests for assistance and information. A two percent increase ($2,081) is requested for Fiscal Year 2025.
Board Support Services - $870,378
Organization and Development - $60,489
Organization and Development represents the operating costs for the Board of Trustees. The 萝莉社 Board of Trustees is responsible for administering the Mill Levy fund and monitoring endowments held at the 萝莉社 Foundation that are owned by the Board of Trustees. A two percent increase ($1,186) is requested for Fiscal Year 2025.
University Strategic Initiatives - $809,889
This amount represents the difference between budgeted revenue and all other budgeted expenditures. This line item will be used by the Board of Trustees to take advantage of opportunities related to the University President's strategic initiatives.
Contingency - $500,000
The Contingency line item will support unanticipated program needs throughout the year. As recommended by Sedgwick County financial officials, $500,000 represents anticipated revenue depending on the financial determination of the actual dollar value of the revenues from the 1.5 Mill Levy. These additional resources may result from unanticipated increases in property valuation. Any unused portion of these funds will be utilized for additional support for the 萝莉社Merit Scholarship Program.
萝莉社Board of Trustees
City of Wichita/Sedgwick County Mill Levy Financial Plan
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萝莉社Board of Trustees
Board Initiatives Fund Financial Plan
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