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Money Issues - Washburn University of Topeka

The financial operation of a university is quite complex. Listed below are some specific areas of interest for the various sources of funds and spending authority.

Operating Budget & Actual Results

Each spring, Washburn University prepares an operating budget that allows the reader to determine the University's priorities. The budget documents also outline the sources of revenues and the uses of these funds.

Then in late winter, an annual financial report for the prior fiscal year ending on June 30 is published. This annual report includes actual data for the operating, capital, restricted, and construction funds.

• FY 2007-08
• FY 2006-07
• FY 2005-06

Capital Budgeting

The Debt Retirement Fund receives Shawnee County property taxes, commonly referred to as 3 mill funds, that are assessed for "construction, reconstruction, or equipping of new or existing buildings" or "for any other capitalized equipment or permanent improvements." KS statute No. 13-13-a23.

In addition to this property tax revenue, sales tax proceeds and proceeds from borrowing through bond issuances, are expended from the Building Construction fund. In FY03, $8.3 million was expended from this fund, which is not part of the public budget process.

Debt Payments

Debt grew $30,000,000 from FY99 to FY04. Annual payments on this outstanding debt have increased almost $2,000,000 over that same period.

At $150 per credit hour, it takes 13,333 credit hours to pay the FY04 debt service of $2.724,646. In FY99, at $103 per credit hour, it took 7,519 credit hours to pay the debt service of $774,500.

Restricted Funds

The source and use of funds is dependent on the specific fund. Some restricted funds receive private donations through WEA. The restrictions on these funds are determined by the donor. Some funds can be spent at the discretion of various areas within the university. Some, like scholarships, are restricted to a specific purpose.

While members of the administration refer to the public budget and to the university budget as two separate documents, the financial transactions from the University's Agency and Restricted Fund, although significant, are not part of either document.

Auxiliary Funds

The auxiliary operations on campus that are supposed to be self-supporting include housing, food services, and the Memorial Union operations.