Suppose you are the controller of Ryerson University. The university president is preparing for her annual fundraising campaign for 2010 2011. 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 (2009 2010). 

1. For 2010 2011, all faculty and staff will receive a 6 percent salary increase. Undergraduate enrolment is expected to decline by 2 percent, but graduate enrolment is expected to increase by 5 percent. 

2. The 2009 2010 budget for operation and maintenance of facilities is $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 percent and other operating costs by $12,000 in 2010 2011. 

3. The 2009 ?010 and 2010 2011 budgets for the remaining expenditures are 

4. Tuition is $70 per credit-hour. In addition, the provincial government provides $780 per full-time-equivalent student. (A fulltime equivalent is 30 undergraduate semester credit-hours or 24 graduate semester credit-hours.) Tuition scholarships are given to 30 full-time undergraduates and 50 full-time graduate students. 

5. Revenues other than tuition and the government apportionment are 

6. The chemistry/physics classroom building needs remodelling during the 2010 ?011 period. Projected cost is $550,000. 

1. Prepare a schedule for 2010 2011 that shows, by division, (a) expected enrolment, (b) total credit-hours, (c) full-time-equivalent enrolment, and (d) number of faculty members needed. 

2. Calculate the budget for faculty salaries for 2010 2011 by division. 

3. Calculate the budget for tuition revenue and government apportionment for 2010 2011 by division. 

4. Prepare a schedule for the president showing the amount that must be raised by the annual fundraising campaign.

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Undergraduate Graduate Division Division $48,760 $48,760 Average salary of faculty member Average faculty teaching load in semester credit-hours per year (8 undergraduate or 6 graduate courses) Average number of students per class Total enrolment (full-time and part- time students) 24 18 30 20 3,600 1,800 Average number of semester credit hours carried each year per student 25 20 Full-time load, semester hours per year 24 2009 2010 2010 2011 General administrative $500,000 $525,000 Library: Acquisitions Operations 150,000 155,000 190,000 200,000 48,000 56,000 Health services 50,000 Intramural athletics 60,000 Intercollegiate athletics 240,000 245,000 Insurance and retirement 520,000 560,000 Interest 75,000 75,000