# Question: Suppose you are the controller of Nebraska State University The

Suppose you are the controller of Nebraska State University. The university president, Lisa Larsson, is preparing for her annual fund-raising campaign for 20X7â€“20X8. To set an appropriate target, she has asked you to prepare a budget for the academic year. You have collected the following data for the current year (20X6â€“20X7):
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For 20X7â€“20X8, all faculty and staff will receive a 6% salary increase. Undergraduate enrollment is expected to decline by 2%, but graduate enrollment is expected to increase by 5%.
â—Ź The 20X6â€“20X7 budget for operation and maintenance of facilities was \$500,000, which includes \$240,000 for salaries and wages. Experience so far this year indicates that the budget is accurate. Salaries and wages will increase by 6% and other operating costs will increase by \$12,000 in 20X7â€“20X8.
â—Ź The 20X6â€“20X7 and 20X7â€“20X8 budgets for the remaining expenditures are as follows:
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â—Ź Tuition is \$92 per credit hour. In addition, the state legislature provides \$780 per full-time-equivalent student. (A full-time equivalent is 30 undergraduate hours or 24 graduate hours.) Full-tuition scholarships are given to 30 full-time undergraduates and 50 full-time graduate students.
â—Ź Revenues other than tuition and the legislative apportionment are as follows:
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â—Ź The chemistry/physics classroom building needs remodeling during the 20X7â€“20X8 period. Projected cost is \$575,000.
1. Prepare a schedule for 20X7â€“20X8 that shows, by division, (a) expected enrollment, (b) total credit hours, (c) full-time-equivalent enrollment, and (d) number of faculty members needed.
2. Calculate the budget for faculty salaries for 20X7â€“20X8 by division.
3. Calculate the budget for tuition revenue and legislative apportionment for 20X7â€“20X8 by division.
4. Prepare a schedule for President Larsson showing the amount that must be raised by the annual fund-raisingcampaign.
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