Florida State University Case Study

Southern University A&M College welcomed Dr. J.S. Clark as the new African American leader and president in 1914 after the big move. As Dr. Clark as president, he made numerous improvements on campus and off campus. He established a Junior College, teacher-training curriculum, Agricultural Extension Program, a summer normal school, six brick buildings for instructional activities, five brick dormitories, and eleven wooden structures for the faculties. Before his retirement came, he funded money from the government to build a library, a football stadium, an administration building, a gymnasium, and additional dormitories. During this time period, Felton G. Clark, J.S. Clark only son, was one of Southern’s most promising

The University has been selected as one of six research-university finalists for the inaugural Award for Undergraduate Research Accomplishments (Florida State University, 2017a). The University also receives more funding than any other university in Florida from the National Science Foundation and the U.S. Department of Energy Office of Science (Florida State University, 2017a). The University has increased its rankings to number thirty-three as a national public university in the U.S. News and World Report (Florida State University, 2017a). The University has been named as a best value college by Kiplinger’s Personal Finance that states the university ranks twelfth for out-of-state students and twenty-eighth for in-state students (Florida State University, 2017a). Forbes ranks the university as the twenty-fifth best value college among public institutions (Florida State University, 2017a).

Financially, the organization is able to raise money through various means. For the fiscal year 00-01, the symphony was able to raise $3.8 million through performance revenues, $3.1 million through government grants, and $4.5 million through fundraising. With another $1 million coming from investments other minor sources, they had an operating budget of $12.4 million

The topic of this paper is the states’ decreasing financial support of higher education, the reaction and response from institutions who have lost funding, and the creative ways public institutions are locating additional streams of revenue. States have been the primary backer of public institutions, but since the recession states have shown less commitment financially while still heavily regulating higher education. As a result some institutions have had to change their practices while others have challenged their state’s regulations all together. Many have speculated that state funding may never return to its former highs. Rather than make an enemy of the state, some schools have discovered new and unconvential ways of raising funds for their institution.

Approaching the halfway point of the program brought me to the Introduction to School Finance EDA 6240, which focused on the fiscal management of the organization and utilizing resources to maximize an environment conducive to learning. Because public education is a responsibility of each state, funding public education is crucial to creating a productive and successful society. The Florida Education Funding Program (FEFP) equalized funding for education regardless of how wealthy one area is over the other. An important component of the FEFP is the full time equivalent (FTE), which represents a student who was present during the Survey FTE week. Money is earned for each one of the FTEs. Learning about the base student allocation, the amount

Nick Tosches once said, “I don’t have a college degree” (Picturequotes, 2017). Quite frankly, neither do I considering the fact that I am fourteen years old and not a genius. Over the course of the past nine weeks, I have been researching about Florida State University, it’s financial aid, the process of going through college, and Florida State University’s history.

Florida State University, founded in 1851. It has an undergraduate class of 32,948. Its urban lifestyle makes for a comfortable life on campus life. The campus has 475 acres. It uses a semester based calendar. Florida State University's ranking in Best Colleges, 96. Its in state tuition and fees are $6,507. Out of state tuition and fees are $21,673.

For example, the Oregon University Athletics program alone makes $196 million a year just off of sports sales. And twenty other colleges are making over $100 million a year with the athletes still not being paid. Almost every college makes their money off sporting resources like admission, or jersey sales. But almost all of their main money source comes from ticket sales. Depending on the seat view or spot will range from about $14 to $4,250 per ticket. And if the event is a special game the cost rises, along with the team or area. And the thing is that the majority of the money coming from sports the colleges use on things not even needed. Auburn University used money from its sales on a 11,000 foot HD screen for the stadium worth 13.9 million. And many other schools used the money from sporting events for different additions to the school worth well over $50

competes in bring in massive revenue as well. The fact that the university is making

The tuition varies from the type of student you are if you are from out of state your tuition may be an estimate of $21,683 and if you are in the state your tuition would be 6,516(admissions.fsu.edu).Housing starts at $6,550, books and supplies $1,000 and the most popular meal plan $3,998.Plus FSU made it mandatory for all new students to have a health insurance, which is not included in the tuition/fees.If you do not have a health insurance coverage you would have to purchase $2,262 the university insurance (healthcenter.fsu.edu). Being that FSU is a public university for students of all colors you have the opportunity to apply for many scholarships and grants that the school itself offer. Starting with the University Freshman Scholarship for all accepted freshmen that you do not have to fill out an application because you would already consider this scholarship is awarded $2,400 per year over four years a total of $9,600. A Presidential Scholars Program for freshmen who has received the University Freshman Scholarship, which would receive $4,800 per year plus $12,00 for educational enrichment opportunities(admissions.fsu.edu).Being that Florida State University is one of the largest campuses and the largest university in the state of Florida wanting higher education for young students of all backgrounds is a bit of history behind all that is given to this school today.

Every year, higher education institutions (HEI’s) receive billions of dollars from the Department of Education in the form of loans, grants and subsidies. These funds are authorized under Title IV of the Higher Education Act, and are the primary source of Federal student aid for all HEI’s in the United States. The main Title IV programs include Loans, Grants and Federal Work Study (U.S. Government Accountability Office [GAO], 2009).

As described earlier in this report, for-profit colleges are allowed access to federal financial aid only under particular circumstances. First, for-profit schools must meet a market test, demonstrating that a portion of their revenue comes from somewhere other than federal aid. Even though this requirement has serious loopholes, many for-profit colleges still come very close to transgressing the 90 percent limit on Department of Education revenue, so the

A surging $1.2 trillion in student debt and rising rapidly in tuition is the critical issue America public universities face today. These student debts and rising tuitions are caused mainly by administrative hiring and pay or expensive building projects on campuses. When public universities are spending money toward expensive building projects, this does not help with making tuition cheap to attend a certain university, instead it’s high.

In review of the operating costs, overhead and administration have increased by 8% from 2008-2011 or $116,870. In addition salary dollars continue to increase from 2008-2011 by $111,150 with no efforts to flex. The other expenses are staying steady in proportion to gross revenues. There may be opportunities in these areas however salaries and overhead is the greatest opportunity to scale back costs and contribute to increased net income and ultimately positive cash flows. Flexing salaries and benefit to 44% of gross revenue and reducing overhead and expenses to 10% of gross revenue is recommended for Ms. Ringer to increase net income to $152,956 and equity to $240,214 (exhibit Operating Statements-2012 proforma).

In order to gain control over the allocation of resources throughout the university and also to balance the monies being distributed amongst the revenue centres a system of participation/subvention was used by the university administrators. These participations were mere equal contributions (20% of the total tuition fees, sales and service income, and indirect cost recoveries) from all revenue centres and were redistributed back to them as block grants called subventions and these participations were portrayed as negative and subventions as positive indirect income. These features in fact enabled university administrators to focus on university priorities and goals. In allocating subventions their main focus was firstly on differentials in the costs of educating students in different fields and secondly, the revenue centres’ cost/quality ratios.