The University of Toledo

The University of Toledo

Office of Finance FY 2011-FY2015 Budget Comparison And 5 Year Projection 1 FY 2011-FY 2015 Historical Look back Fiscal Years 2011 through 2015 have been tumultuous in Higher Ed For UT that is defined by a decline in enrollment of 12%-$26M State Share of Instruction Subsidy decline of 13%-$17M Sales and Service Revenue decline of 16% (housing, meal plans, athletics)- $13M Rising healthcare/benefit costs-$3M These factors had a Total Impact of $60M in reduced Income Management has mitigated this impact and maintained a positive cash flow by Increasing tuition and fees Reducing interest expense: refinancing debt Reduction in FTEs; salaries Reducing Capital Expenditures Non-Salary expenses 2 FY 2011-FY 2015 Budget Comparison University of Toledo Academic Unit Comparison of FY2011 Budget vs FY2015 Budget $23.5M Decline in Operating Revenue4.5% (000's) Net Tuition and Fees SSI/Other Appropriations Grants, Gifts and Contracts Sales and Service Other Revenue Total Operating Revenue FY2011 Budget $216,464 $130,993 $94,614 $80,448 $4,530 $527,050 FY2012 Budget $226,363 $119,437 $93,558 $86,944 $2,313 $528,615 FY2013 Budget $230,084 $126,837 $95,006 $74,720 $3,041 $529,689 FY2014 Budget $218,032 $111,678 $94,034 $69,595 $5,504 $498,843 FY 2015 Budget $ Change % Change $224,830 $8,366 3.9% $113,678 -$17,316 -13.2% $94,184 -$431 -0.5% $67,747 -$12,701 -15.8%

$3,091 -$1,439 -31.8% $503,530 -$23,520 -4.5% Decline in enrollment (offset by tuition/fee increases) State Share of Instruction/State Appropriations decline Sales and Service Revenue decline Other Revenue decline Total Enrollment by Level Enrollment Undergraduate Graduate Total FY2010 Fall EnrollmentHeadcount 18,130 4,955 23,085 FY2015 Fall EnrollmentHeadcount $ Change % Change 16,089 (2,041) 4,536 (419) 20,625 (2,460) -11% FY2010 Fall EnrollmentFTE 16,136 3,866 19,601 FY2015 Fall EnrollmentFTE $ Change % Change 14,067 (2,069) 3,170 (696) 17,237 (2,364) -12% 3 FY 2011-FY 2015 Budget Comparison University of Toledo Academic Unit Comparison of FY2011 Budget vs FY2015 Budget (000's) Salaries Benefits Non-Salary Expense Depreciation Interest Total Expenses FY2011 Budget $221,762 $87,159 $188,128 $30,000 $13,214 $540,263 FY2012 Budget $217,190 $82,419 $193,005 $36,000 $11,884 $540,499 FY2013 Budget $215,653

$86,466 $190,869 $36,700 $11,493 $541,182 Increase in Expenditures of $943K-.2% Salaries decreased due to 7.7% decrease in FTEs Benefit costs increased (healthcare and tuition waivers) Reduced Non-Salary (Operating Expense) Depreciation expenditures increased FY2014 Budget $213,777 $87,994 $185,757 $38,500 $11,314 $537,343 FY 2015 Budget $216,198 $89,116 $184,353 $41,763 $9,777 $541,206 $ Change % Change -$5,564 -2.5% $1,957 2.2% -$3,775 -2.0% $11,763 39.2% -$3,437 -26.0% $943 0.2% FY2010 Fall - FY2015 Fall Employee FTE's FTE FTE % Change Faculty, Admin, Other Staff 3,453 3,189 -7.7% 4 FY 2010-FY 2015 Budget Comparison University of Toledo Academic Unit Comparison of FY2011 Budget vs FY2015 Budget (000's) Total Operating Revenue Total Expenses Margin FY2011 Budget FY2012 Budget FY2013 Budget $527,050 $528,615 $529,689 $540,263 $540,499 $541,182 FY2014 Budget $498,843 $537,343 FY 2015 Budget $503,530 $541,206 $ Change % Change -$23,520 $943 -$13,214 -$11,884 -$11,493 -$38,500 -$37,676

-$24,462 Add Back Non-Cash Expense (Depreciati $30,000 on) Principal Payment on Debt -$7,354 Transfer from UTMC $8,793 State Captal Appropriations $15,500 Capital Expenditures -$30,000 Interest Income $220 Unrealized Gains/(losses) on Investments -$2,500 Budgeted Cash Flow $1,445 $36,000 -$5,992 $10,000 $0 -$28,000 $220 $1,728 $2,072 $36,700 -$4,521 $10,000 $2,700 -$30,000 $220 $38,500 -$5,206 $11,615 $41,763 -$7,384 $14,400 $11,800 -$23,800 $2,400 $11,763 -$30 $5,607 -$3,700 $6,200 $2,180 $2,500 $58 $3,605 -$3,700 $325 $3,034 $1,503 39.2% 0.4% 63.8% -23.9% -20.7% 990.9% -100.0% 5 Items Negatively Affecting Financial condition during this time period and Managements response Items Negatively Affecting Financial Condition Management action to offset the Negative Items Increased Tuition and Fees Reduced Interest Expense Managed Salaries by reduction in FTE's Managed Non-Salary Expense Increased Transfer from UTMC Reduced Capital Expenditures Increased Interest Income Unrealized Gains/Losses Total Management Action Total Impact Reduction in State Share of Instruction/State Appropriations Reduction in Sales and Service Revenue Reduction in Other Revenue Reduction in State Capital Appropriations Increase in Benefits Total Impact $17,316

$12,701 $1,439 $3,700 $1,957 $37,113 Total Impact $8,366 $3,437 $5,564 $3,775 $5,607 $6,200 $2,180 $2,500 $37,630 12% Decline in Enrollment (Estimated impact $26,107 )**Not shown in numbers above Auxiliary Revenue (in millions) $90,000 $85,000 $86,944 $80,000 $75,000 $80,051 $80,448 $74,720 $70,000 $69,595 $65,000 $67,747 Auxiliary Revenue $60,000 $55,000 $50,000 FY2010 Budget FY2011 Budget FY2012 Budget FY2013 Budget FY2014 Budget FY 2015 Budget *FY2013 student bookstore moved to UT Foundation 6 FY 2016 Budget Development University of Toledo Academic Unit FY 2016 Budget Development FY2015 Adjusted Budget Revenue Tuition and Fees Scholarships and Other Aid State Share of Instruction Government Grants and Contracts Non Government Gifts and Contracts Sales and Service Other Revenue Total Revenue $288,663 -$64,390 $224,273 $113,678 $86,717 $6,933 $70,226 $4,235 $506,062 FY 2016 Base Budget Adjustments to Base

Adjusted FY Budget 2016 Budget $288,663 -$64,390 $224,273 $113,678 $86,717 $6,933 $70,226 $4,235 $506,062 FY2016 Adjusted Budget reflects FY2015 Fall Enrollment Decline and a 3% Increase in both Undergrad Enrollment and Tuition and Fees $2,716 $1,680 $4,395 $1,000 $908 $6,303 $291,379 -$62,710 $228,669 $114,678 $86,717 $6,933 $71,134 $4,235 $512,366 7 FY 2016 Budget Development University of Toledo Academic Unit FY 2016 Budget Development FY2015 Adjusted Budget Expenses Salaries Benefits Outside Purchased Services Supplies Seminars and Travel Information and Communication Occupancy Provision for doubtful accounts Pooled Designated and other funds Insurance Reimbursement from Hospital Cost of Goods Sold-Aux. Services Leases Miscellaneous Grants and contracts Carry Forward Operating Exp. Athletics-Full Cost of Attendance Recruitment of President, Provost, VP of Finance, etc. Depreciation Interest Expense Margin $221,622 $88,940 $24,445 $22,827 $7,264 $10,976 $16,795 $3,561 $4,120 $1,353 -$5,182 $19,459 $434 $2,205 $77,505 FY 2016 Base Budget $221,622 $88,940 $24,445 $22,827 $7,264 $10,976 $16,795 $3,561 $4,120 $1,353 -$5,182 $19,459 $434

$2,205 $77,505 Adjustments to Base Adjusted FY Budget 2016 Budget $4,342 $2,000 $489 $457 $145 $220 $1,450 $880 $27 $389 $41,763 $9,771 $547,858 $41,763 $9,771 $547,858 $1,142 $1,100 $250 $2,137 -$302 $14,726 -$41,795 -$41,795 -$8,422 $225,964 $90,940 $24,934 $23,284 $7,409 $11,196 $18,245 $3,561 $5,000 $1,380 -$5,182 $19,848 $434 $2,205 $77,505 $1,142 $1,100 $250 $43,900 $9,469 $562,583 -$50,218 2% increase in salaries for eligible employees Estimated increase in health benefits 2% inflation 2% inflation 2% inflation 2% inflation 9% adjusted electricity rates Increase reserves to 5,000,000 2% inflation 2% inflation 25% is operating exp. Of the 33% of 13.84 million 8 FY 2016 Budget Development University of Toledo Academic Unit FY 2016 Budget Development Margin Cash Impact Add Back Depreciation Principal Payment on Debt Transfer from Hospital State Capital Appropriations Capital Expenditures Capital Expenditures (From Carry Forward) Change in Cash FY2015 Adjusted FY 2016 Base Budget Budget -$41,795 -$41,795

$41,763 -$7,384 $14,400 $11,800 -$23,800 $41,763 -$8,559 $14,400 $11,800 -$21,900 -$5,016 -$4,291 * Assumes fully funded depreciation Adjustments to Base Adjusted FY Budget 2016 Budget -$8,422 -$50,218 $2,137 -$22,000 $3,426 -$24,859 $43,900 -$8,559 $14,400 $11,800 -$43,900 -$3,426 -$36,002 * 9 5 Year Forecast-FY2016-FY2020 3% Enrollment and Related Services FY2015 Adjusted Budget Cash Impact Change in Cash Increase in Expenses in FY2017FY2020 Annual Salary Increase of 2%$4.6M annually Annual Benefit Costs Increase of 2%-$1.8M annually Inflation of 2%-Increases in Operational costs-$2.2M annually Depreciation annual Increase of $2.2M Decrease in Principal & Interest on Debt -$200k annually Total Increased Expenses $42.7M -$5,016 FY 2016 Base Budget -$4,291 Increased Expenses or Other Changes 2% annual salary increase 2% annual benefit increase 2% inflation on non-salary expense (operating costs) Changes in Principal and Interest on Debt Changes in Depreciation Cumulative total Adjustments to Base Adjusted FY Budget 2016 Budget -$24,859 -$36,002 FY 2017 FY 2018 FY2019 FY2020 $4,419 $8,927 $13,525 $18,215 $1,782 $3,600 $5,455 $7,346 $2,126 $4,294 $6,506 $8,762

$105 -$25 -$1,064 -$634 $2,100 $4,300 $6,600 $9,000 $10,533 $21,096 $31,022 $42,689 10 5 Year Forecast-FY2016-FY2020 3% Enrollment and Related Services FY2015 Adjusted Budget Cash Impact Change in Cash FY 2016 Base Budget -$5,016 -$4,291 Adjustments to Base Adjusted FY Budget 2016 Budget -$24,859 -$36,002 Management Actions in FY2016-FY2020 3% Annual Increase of Tuition/Fees (undergrad)-$4.6M Average/annually 3% Annual Net Increase in Enrollment & Related Services (undergrad)-$5.4M Average/annually Reduce Capital Spend to 52% funded depreciation in 2016 to 83% in 2020 Faculty Retirement Savings-$1M Increase Auxiliary Margin- $1M Additional Management Actions $48.3M Management Action Items Increase Tuition and Fee (Undergrads) Increase Enrollment & Related Services (Undergrads) Faculty expenses-Enrollment related growth Reduce Capital Spend Faculty Retirement Savings Improve Auxilliary Margin Cumulative Total FY 2016 $0 $0 -$725 $22,000 $1,000 $22,275 FY 2017 $4,497 $5,279 -$1,450 $16,000 $1,000 $1,000 $26,326 Increase in Tuition/Fees and Enrollment for 2016 are included in 2016s Adjusted Budget of $-36M FY 2018 $9,128 $10,717 -$2,175 $14,000 $1,000 $1,000 $33,670 FY2019 $13,899 $16,317 -$2,900 $10,000 $1,000 $1,000 $39,316 FY2020 $18,812 $22,086 -$3,625 $9,000 $1,000 $1,000 $48,273 11 5 Year Forecast-FY2016-FY2020 3% Enrollment and Related Services FY 2016 Budget

-$36,002 -$36,002 -$36,002 -$36,002 -$36,002 Increased Expenses or Other Changes 2% annual salary increase 2% annual benefit increase 2% inflation on non-salary expense (operating costs) Changes in Principal and Interest on Debt Changes in Depreciation Cumulative total FY 2016 FY 2017 $4,419 $1,782 $2,126 $105 $2,100 $10,533 FY 2018 $8,927 $3,600 $4,294 -$25 $4,300 $21,096 FY2019 $13,525 $5,455 $6,506 -$1,064 $6,600 $31,022 FY2020 $18,215 $7,346 $8,762 -$634 $9,000 $42,689 Management Action Items Increase Tuition and Fee (Undergrads) Increase Enrollment & Related Services (Undergrads) Faculty expenses-Enrollment related growth Reduce Capital Spend Faculty Retirement Savings Improve Auxilliary Margin Cumulative Total FY 2016 $0 $0 -$725 $22,000 $1,000 $22,275 FY 2017 $4,497 $5,279 -$1,450 $16,000 $1,000 $1,000 $26,326 FY 2018 $9,128 $10,717 -$2,175 $14,000 $1,000 $1,000 $33,670 FY2019 $13,899 $16,317 -$2,900 $10,000 $1,000 $1,000 $39,316 FY2020 $18,812 $22,086 -$3,625 $9,000 $1,000 $1,000 $48,273

Cumulative Surplus (Deficit) -$13,727 -$20,209 -$23,429 -$27,708 -$30,418 Additional Management Action Required $14,000 $21,000 $24,000 $28,000 $31,000 $273 $791 $571 $292 $582 Improvement in Cash Flow (Before Investment Income) 12 5 Year Forecast-FY2016-FY2020 3% Enrollment and Related Services FY 2016 FY 2017 Cumulative Surplus (Deficit) -$13,727 -$20,209 -$23,429 -$27,708 -$30,418 Additional Management Action Required $14,000 $21,000 $24,000 $28,000 $31,000 $292 $582 Improvement in Cash Flow (Before Investment Income) $273 $791 FY 2018 $571 FY2019 FY2020 Investment Income @ 5.5% ROR $9,500 $10,023 $10,574 $11,155 $11,769 Principal Payments on Debt $8,559 $9,053 $9,341 $8,750 $9,595 $18,331 $19,866 $20,486

$20,197 $21,945 Improvement in Net Assets Capital Spend Less: State Appropriations Capital Funded From Operations % of Depreciation FY 2016 $22,000 -$11,000 $11,000 52% FY 2017 $28,000 -$11,000 $17,000 67% FY 2018 $30,000 -$11,000 $19,000 71% $4,280 $3,056 $3,667 $5,667 $4,722 $5,667 $944 $6,333 $5,429 $6,333 $905 FY2019 FY2020 $34,000 $35,000 -$11,000 -$11,000 $23,000 $24,000 81% 83% Allocation of Capital Facilities Provost IT Contingency $7,667 $6,708 $7,667 $958 $7,111 $7,111 $7,111 $2,667 * Gradually increasing capital spend towards fully funding depreciation 13 5 Year Forecast-FY2016-FY2020 Flat Enrollment FY2015 Adjusted Budget Cash Impact Change in Cash Increase in Expenses in FY2017FY2020 Annual Salary Increase of 2%$4.6M annually Annual Benefit Costs Increase of 2%-$1.8M annually Inflation of 2%-Increases in Operational costs-$2.2M annually Depreciation annual Increase of $2.2M Decrease in Principal & Interest on Debt -$200k annually Total Increased Expenses $42.7M -$5,016

FY 2016 Base Budget -$4,291 Increased Expenses or Other Changes 2% annual salary increase 2% annual benefit increase 2% inflation on non-salary expense (operating costs) Changes in Principal and Interest on Debt Changes in Depreciation Cumulative total Adjustments to Base Adjusted FY Budget 2016 Budget -$24,859 -$36,002 FY 2017 FY 2018 FY2019 FY2020 $4,419 $8,927 $13,525 $18,215 $1,782 $3,600 $5,455 $7,346 $2,126 $4,294 $6,506 $8,762 $105 -$25 -$1,064 -$634 $2,100 $4,300 $6,600 $9,000 $10,533 $21,096 $31,022 $42,689 14 5 Year Forecast-FY2016-FY2020 Flat Enrollment (000s) FY2015 Adjusted Budget Cash Impact Change in Cash FY 2016 Base Budget -$5,016 Adjustments to Base Adjusted FY Budget 2016 Budget -$4,291 -$24,859 -$36,002 Management Actions in FY2016-FY2020 3% Annual Increase in Tuition/Fees (undergrad)-$4.6M Avg./annually Increase Enrollment and Related Services by 3% in FY2016, Flat FY2017-2020 Reduce Capital Spend to 52% funded depreciation in 2016 to 83% in 2020 Faculty Retirement Savings-$1M Increase Auxiliary Margin- $1M Additional Management Actions $29M Management Action Items Increase Tuition and Fee (Undergrads) 3% Annually Increase Enrollment & Related Services (Undergrads) Faculty expenses-Enrollment related growth Reduce Capital Spend Faculty Retirement Savings Improve Auxilliary Margin Cumulative Total FY 2016 $0 $0 -$725 $22,000 $1,000 $22,275 FY 2017 FY 2018 $4,497 $9,128 $0 $0 -$725 -$725 $16,000 $14,000 $1,000 $1,000

$1,000 $1,000 $21,772 $24,403 Increase in Tuition/Fees and Enrollment for 2016 are included in 2016s Adjusted Budget of $-36M FY2019 $13,899 $0 -$725 $10,000 $1,000 $1,000 $25,174 FY2020 $18,812 $0 -$725 $9,000 $1,000 $1,000 $29,087 15 5 Year Forecast-FY2016-FY2020 Flat Enrollment FY 2016 Budget -$36,002 -$36,002 -$36,002 -$36,002 -$36,002 Increased Expenses or Other Changes 2% annual salary increase 2% annual benefit increase 2% inflation on non-salary expense (operating costs) Changes in Principal and Interest on Debt Changes in Depreciation Cumulative total FY 2016 FY 2017 FY 2018 FY2019 $4,419 $8,927 $13,525 $1,782 $3,600 $5,455 $2,126 $4,294 $6,506 $105 -$25 -$1,064 $2,100 $4,300 $6,600 $10,533 $21,096 $31,022 FY2020 $18,215 $7,346 $8,762 -$634 $9,000 $42,689 Management Action Items Increase Tuition and Fee (Undergrads) 3% Annually Increase Enrollment & Related Services (Undergrads) Faculty expenses-Enrollment related growth Reduce Capital Spend Faculty Retirement Savings Improve Auxilliary Margin Cumulative Total FY 2016 $0 $0 -$725 $22,000 $1,000 $22,275 FY 2017 $4,497 $0 -$725 $16,000 $1,000 $1,000 $21,772 FY2019 $13,899 $0 -$725 $10,000 $1,000 $1,000

$25,174 FY2020 $18,812 $0 -$725 $9,000 $1,000 $1,000 $29,087 Cumulative Surplus (Deficit) -$13,727 -$24,764 -$32,696 -$41,850 -$49,604 Additional Management Action Required $14,000 $25,000 $33,000 $42,000 $50,000 $273 $236 $304 $150 $396 Improvement in Cash Flow (Before Investment Income) FY 2018 $9,128 $0 -$725 $14,000 $1,000 $1,000 $24,403 16 5 Year Forecast-FY2016-FY2020 Flat Enrollment FY 2016 FY 2017 FY 2018 FY2019 FY2020 Cumulative Surplus (Deficit) -$13,727 -$24,764 -$32,696 -$41,850 -$49,604 Additional Management Action Required $14,000 $25,000 $33,000 $42,000 $50,000 $273 $236 $304 $150 $396 Investment Income @ 5.5% ROR $9,500 $10,023 $10,574

$11,155 $11,769 Principal Payments on Debt $8,559 $9,053 $9,341 $8,750 $9,595 $18,331 $19,312 $20,219 $20,055 $21,760 Improvement in Cash Flow (Before Investment Income) Improvement in Net Assets FY 2016 $22,000 -$11,000 $11,000 52% Capital Spend Less: State Appropriations Capital Funded From Operations % of Depreciation FY 2017 $28,000 -$11,000 $17,000 67% FY 2018 $30,000 -$11,000 $19,000 71% FY2019 FY2020 $34,000 $35,000 -$11,000 -$11,000 $23,000 $24,000 81% 83% Allocation of Capital Facilities Provost IT Contingency $4,280 $3,056 $3,667 $5,667 $4,722 $5,667 $944 $6,333 $5,429 $6,333 $905 $7,667 $6,708 $7,667 $958 $7,111 $7,111 $7,111 $2,667 * Gradually increasing capital spend towards fully funding depreciation 17

FY 2011-FY 2015 Budget Comparison University of Toledo UTMC Comparison of FY2011 Budget vs FY2015 Budget (000's) Net Patient Revenue Other Revenue Total Operating Revenue FY2011 Budget FY2012 Budget FY2013 Budget $253,911 $249,083 $256,264 $14,895 $9,873 $11,649 $268,806 $258,956 $267,913 FY2014 Budget $258,984 $17,369 $276,352 FY 2015 Budget $273,421 $13,916 $287,338 $ Change % Change $19,510 7.7% -$979 -6.6% $18,532 6.9% $18.5M or 6.9% increase in Operating Revenue Growth in Cancer Treatment Growth in Emergency Room visits Growth in Clinic volume (new locations) Growth in Kidney Transplants, Vascular Surgery, GI, Interventional Neurology, LVAD (Heart), Pain Services, Wound services, Rehab Services, Behavioral Health, etc.. Improved contracts with commercial payers Increased complexity of inpatients, CMI went from 1.6976 to 1.7977 CMI: a relative value assigned to a diagnosis-related group of patients in a medical care environment. The CMI value is used in determining the allocation of resources for the care and/or treat of patients. 18 FY 2011-FY 2015 Budget Comparison University of Toledo UTMC Comparison of FY2011 Budget vs FY2015 Budget (000's) Net Patient Revenue Other Revenue Total Operating Revenue FY10 FY2011 Budget FY2012 Budget FY2013 Budget $253,911 $249,083 $256,264 $14,895 $9,873 $11,649 $268,806 $258,956 $267,913 FY11 FY12 FY13 FY14 13,004 13,087 13,482

13,444 13,501 414 3.2% Total Patient Days 59,718 58,292 64,620 63,509 59,515 -203 -0.3% 195,531 215,616 216,808 205,292 205,260 9,729 5.0% Emergency Visits I/P Surgeries O/P Surgeries Total Surgeries 31,197 32,594 4,387 5,385 9,772 4,138 5,638 9,776 FY 2015 Budget $273,421 $13,916 $287,338 $ Change % Change $19,510 7.7% -$979 -6.6% $18,532 6.9% $ % Change Change Admissions/Observation Pts. Clinic Visits FY2014 Budget $258,984 $17,369 $276,352 34,937 34,800 33,989 2,792 8.9% 4,359 5,685 10,044 4,205 5,670 9,875 4,210 5,614 9,824 -177 229 52 -4.0% 4.3% 0.5% Staffed Beds

FY9 FY10 FY11 FY12 FY13 FY14 Acute 180 180 186 200 209 211 Rehabilitation 22 22 22 22 22 22 Psychiatric 16 16 16 16 16 16 Geri Psych Total 18 218 218 224 238 247 267 19 FY 2011-FY 2015 Budget Comparison University of Toledo UTMC Comparison of FY2011 Budget vs FY2015 Budget (000's) Salaries Benefits Non-Salary Expense Depreciation Interest Total Expenses FY2011 Budget FY2012 Budget FY2013 Budget FY2014 Budget FY 2015 Budget $103,125 $103,310 $103,453 $108,558 $113,101 $26,732 $25,865 $27,312 $28,062 $29,017 $116,367 $107,609 $113,448 $117,219 $115,336

$14,024 $14,024 $15,743 $15,925 $16,833 $3,655 $4,869 $4,724 $4,602 $4,251 $263,903 $255,678 $264,679 $274,365 $278,537 $ Change % Change $9,976 9.7% $2,285 8.5% -$1,032 -0.9% $2,809 20.0% $596 16.3% $14,634 5.5% Increase in Expenditures of $14.6M or 5.5%. Salary Expenses increased on average 2.5% annually due staffing increases (i.e., New Clinics and Cancer Treatment) and wage increases. Benefit costs increased (healthcare and tuition waivers) Increase in supply costs, kidney acquisition, pharmaceutical sales. Depreciation expenditures increased Purchased Services increased related to software and equipment maintenance. 20 FY 2010-FY 2015 Budget Comparison University of Toledo UTMC Comparison of FY2011 Budget vs FY2015 Budget (000's) Net Patient Revenue Other Revenue Total Operating Revenue FY2011 FY2012 Budget Budget $253,911 $249,083 $14,895 $9,873 $268,806 $258,956 Total Expenses $263,903 $255,678 $264,679 $274,365 $278,537 $14,634 $4,903 $3,278 $3,234 $1,987 $8,801 $3,898 FY2011 FY2012 Budget Budget $14,024 $14,024 -$2,101 -$4,128 -$8,793 -$10,000

$0 $0 -$8,000 $0 $33 $3,174 FY2013 Budget $15,743 -$2,064 -$10,000 $0 -$10,000 -$3,087 FY2014 Budget $15,925 -$7,049 -$11,615 $0 -$3,700 -$4,452 Margin Add Back Non-Cash Expense (Depreciation) Principal Payment on Debt Transfer to College of Medicine State Captal Appropriations Capital Expenditures (Funded from Operations) Budgeted Cash Flow FY2013 Budget $256,264 $11,649 $267,913 FY2014 Budget $258,984 $17,369 $276,352 FY 2015 Budget $ Change % Change $273,421 $19,510 7.7% $13,916 -$979 -6.6% $287,338 $18,532 6.9% 5.5% FY 2015 Budget $ Change % Change $16,833 $2,809 20.0% -$6,606 -$4,505 214.5% -$14,400 -$5,607 63.8% $0 $0 0.0% -$6,000 $2,000 -25.0% -$1,372 -$1,406 * 21 * Does not include Capital Expenditures funded from Bond Debt

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