2019-2020 BUDGET EXECUTIVE SUMMARY O F F I C E O F B U D G E T & P L A N N I N G George Mason University Total Budget, 2019-2020 Executive Summary Table of Contents BUDGET SUMMARY OVERVIEW ..................................................................................................................1 Budget Highlights .................................................................................................1 Annual Change: All Programs ..............................................................................3 All Funds—All Sources—Revenue ......................................................................4 All Funds—All Uses—Outlay ..............................................................................5 Institutional Profile ...............................................................................................6 Institutional Performance Standards ...................................................................17 Strategic Plan ......................................................................................................18 EDUCATIONAL AND GENERAL...............................................................................23 Educational and General Revenues ....................................................................23 Funds Available For Allocation (Sources) .........................................................26 Use of Funds / Expenses .....................................................................................28 Educational and General Budget by Unit ..........................................................31 AUXILIARY ENTERPRISES .......................................................................................32 Auxiliary Enterprises Revenues ..........................................................................32 New Student Fee Requirements ..........................................................................37 Use of Funds / Expenses .....................................................................................39 Summary of Auxiliary Enterprises Operating Budget ........................................45 TUITION AND FEES ....................................................................................................46 Academic Year Tuition and Fee Rates ...............................................................49 Tuition Pricing for Select Graduate Programs-Online ........................................51 Premium Pricing for Select Graduate Programs .................................................52 STUDENT FINANCIAL ASSISTANCE.......................................................................53 SPONSORED RESEARCH ...........................................................................................60 CAPITAL OUTLAY ......................................................................................................68 BUDGET DETAILS EDUCATIONAL & GENERAL DETAIL BY MAJOR UNIT .....................................73 AUXILIARY ENTERPRISES DETAIL BY MAJOR UNIT ........................................93 i ACKNOWLEDGEMENTS The 2019-2020 Budget Executive Summary is a collaborative effort among many professional experts at George Mason University. This document would not have been possible without assistance from many within Mason. A special thank you for those who have contributed to this Executive Summary, in particular: Ms. Carol D. Kissal and Dr. S. David Wu Mr. David Burge, Vice President for Enrollment Management Ms. Angela Detlev, Assistant Provost, Intuitional Research and Effectiveness Ms. Renate Guilford, Associate Provost, Academic Administration Mr. Alex Iszard, Director of Contracts and Capital Finance Mr. Mike Laskofski, Associate Vice President of Research Operations Ms. Kimberly Maze, Reporting and Systems Administrator Mr. Patrick McCavitt, Director, Business and Finance Ms. Monica Michaud, Director of Finance, Debt Management Ms. Joy Staulcup, Associate Director, Space Management, Campus Planning Dr. Sandra L. Tarbox, Director of Financial Aid Office of Budget and Planning: Ms. Barbara Clark Ms. Jessica Holtzman Ms. Jieping Li Mr. Billy Mak Ms. Dorian Mroz Mr. Mark Stahley Ms. Li Zhou ii GEORGE MASON UNIVERSITY TOTAL BUDGET, 2019–2020 BUDGET HIGHLIGHTS • George Mason University has grown in both size and stature, not only becoming the largest public research university in the Commonwealth, but also gaining prominence in the United States and throughout the world. Mason’s location near Washington, D.C. affords the university access to unique opportunities, resources, and audiences, as it strives to be the best university for the world. Under the leadership of President Ángel Cabrera, the university has set an ambitious course for the future through its 2014-2024 Strategic Plan. Mason’s strategic plan is structured around four constituencies – students, faculty and staff, the community, and the world. While not mutually exclusive, each embraces the Mason IDEA – Innovative, Diverse, Entrepreneurial, and Accessible and is representative of the university’s commitment to serve. As an indicator of Mason’s strong market brand, this past fall Mason welcomed its largest freshman class of approximately 3,711. Mason continues to serve a large student population with a headcount of 37,677 across all campuses, which represents a 3.8 percent increase over fall of 2017 and 17 percent of the total headcount from all 15 public, four-year institutions of higher education in the Commonwealth. • The total university budget for FY 2020 is projected to be $1.25 billion which represents an increase over the total university budget of $1.06 billion in FY 2019. The FY 2020 budget includes a strong increase in sponsored research activities, an increase of 54 percent or $61.7 million. Student Financial Aid increased by 10.4 percent to $30.8M, while Capital Outlay increased by 94 percent to $90.0M, in large part due to the Core Campus Initiative. The total price for an in-state undergraduate student living on-campus (including tuition, fees, room, and board) is $24,269 which is a 1.5 percent increase; and the total price for an out-of-state undergraduate student living on-campus will be $47,729, a 0.7 percent increase over the previous year. These increases are based on a 0.0% increase in Tuition and E&G Mandatory Fees. • Serving a large and diverse student population requires investment in services and programs to maintain and balance an accessible, affordable, and high quality education for our students. Within the total operating budget, an increase of approximately $4.0 million is provided to strategic plan initiatives as well as $2.6 million for a Financial Stability Fund and Enrollment Revenue Reserve. The Stay Mason Initiative, a student support fund to assist Mason students who are at risk of not continuing their education due to unexpected financial situations, will continue to be permanently budgeted at $1.3 million. In addition to the Stay Mason funds, institutional financial aid for undergraduates includes the continuation of leveraging funds for those students in need. Funding for Mason’s share of the FY 2020 Commonwealth of Virginia Compensation increase as well as supplemental institutional funds is also included in the FY 2020 Operating Budget. The combination of Commonwealth and institutional financial aid will increase by 13.1 percent or approximately $10.6 million. The university has received $8.2M in in-state undergraduate need based aid from the Commonwealth of Virginia over the period FY 2019 and FY 2020. 1 GEORGE MASON UNIVERSITY TOTAL BUDGET, 2019–2020 BUDGET HIGHLIGHTS, (CONTINUED) • Compared to the FY 2019 budget, the total FY 2020 Educational and General (E&G) budget will increase by $53.8 million or 9.4 percent and Auxiliary Budget will increase by $18.3 million or 7.6 percent. • FY 2020 state appropriations will increase to provide funding for Commonwealth of Virginia Compensation Increases, $5.5 million for High Degree Awards, $6.5 million in Tuition Moderation Funding, $1.0 million in Interest Earnings and $0.7 million for O&M. • The budget reflects funding for Mason’s share of the Commonwealth of Virginia’s Compensation Increase as well as institutionally supplemental funding, increases for promotion and tenure and faculty minimums, a financial stability fund and an enrollment revenue reserve. • The budget provides $10.6 million in additional student financial assistance. Mason has implemented a comprehensive pricing strategy for both undergraduate and graduate populations. Over the past several years, the institutionally funded financial aid budget has included additional funding for leveraging. This funding has helped Mason enroll its largest freshman classes in the fall for the past five years. In the next six years, Mason will continue its efforts to increase the student population for in-state and out-of-state students and student financial aid is a key component in reaching these university goals. Undergraduate aid, which includes the Stay Mason Initiative, discounting, merit, and University Scholars, is increasing by 17.8 percent. • The Auxiliary Enterprise (AE) budget will increase by $18.3 million, or a 7.6% change and provides for the following initiatives: FY 2020 Compensation Increases including Mason’s supplemental funding, athletic scholarships, financial stability fund, facility maintenance reserve, University Life program and service enhancements and debt service. • Sponsored Research activity in FY 2020 is projected to total $177.0 million or a 53.5% change, which is a significant