FY22 UG Financial Proforma Instructions

Goal: To develop an intuitive model that provides:

- Comprehensive market research (eg, Business Case Program Proposal)
- Mandatory worklist of departmental inclusion with a collaborative effort across the schools/divisions (eg, Program Requirements Checklist)
- Link to strategic plan and academic financial priorities (eg, Financial Proforma)
- Emphasis on academic rigor, including the assessment on existing programs (breadth and depth of programs offered)
- RCM based metrics for program evaluation
- Formal submission deadlines with correlation to key budget dates for inclusion in the next academic year

Step 1: Business Case Program Proposal

A conclusive narrative of the program, including a comprehensive market research study and program assessment.
Please note that this proposal will be presented first to Deans Council for approval. If approved, the school will need to complete Steps 2 & 3 below.

Step 2: Program Requirements Checklist

Checklist to ensure that the information needed to complete a comprehensive and accurate financial proforma is vetted with the following divisions:
See tab Step 2-Checklist.

Step 3: Financial Proforma

A 5-year financial projection of enrollment, revenue, and profit margin.
Please note that profitable programs need a 50% margin to cover space and overhead costs associated with the RCM.
Program Requirements Checklist
Goal: The information needed to complete a comprehensive and accurate financial proforma is vetted with the following divisions:

Please Indicate
Division Description Contact Name Date Completed
Enrollment Management Student enrollment projections and discount rates used must be Matt Sierra
vetted by Enrollment Management.

Facilities All new space requirements must be vetted by Facilities (including Ibi Yolas
new faculty office and research space).

Financial Aid, including review by the
FARC - Finanical Aid Review
Committee (if applicable)
ITS / Facilities
Evaluate if any special scholarships and/or awards are applicable. Mark Stephens
Review by FARC is only necessary of the program Call Cathy
contains special tution pricing or financial aid. Pagano to set up review with
FARC (every Tuesday at
1pm).
Capital Requests, including the cost of construction of new Ibi Yolas / Chris Elarde
facilities, large capital purchases of furniture, fixtures, and
equipment (FFE) and/or technology.

Library All new program subscription costs and/or new reference materials Steve Feyl
needed for faculty/staff must be vetted by the Library.

OSA Evaluate proposed impact on new and existing classes to determine Doug Berman / OSA Staff
if additional class sections will be warranted.

Other Divisional Areas All other University areas should be considered for future funding Varies
associated with staff, supplies and services, etc. (eg, OSA,
Financial Aid, Enrollment Management)

Other Schools Evaluate the effect of new programs on the other schools who will Varies
be responsible for the development and staffing of new/additional
core curriculum courses (eg, Dyson).

Please note that the Financial Proforma should be completed in consultation with your School Budget Rep.
Pace University Undergraduate Financial Proforma
This form implements the process and guidelines set forth in the new proforma process.
Anything highlighted in GRAY with BLUE font is an input cell. The rest are calculations.

School Submitting Proposal <School>

Formal Degree Designation <Degree>
Title of Proposed UG Degree Program <Title>
Program Location: Online

Fiscal Years of Analysis:

Year 0 / Initial Investment 2020 - 2021
Year 1 (first year of program) 2021 - 2022
Year 2 2022 - 2023
Year 3 2023 - 2024
Year 4 2024 - 2025
Year 5 2025 - 2026

Discount Rate: 55.7%

Average Tuition Growth Rate: 2.5%
Average Retention Rate of Continuing Students: 85.0%

Please include a brief program summary:

<Input here>

Please provide information on any Pace program that may directly or indirectly compete with this new program,
including any potential negative effects on the current programs enrollment:
<Input here>

If this program requires accreditation, please provide the name of the accrediting agency, any specific faculty,
staff, or space requirements, associated costs, and the estimated time frame for approval:
<Input here>

SUBMISSION DEADLINE: All proformas must be approved by May 2020 for inclusion in the Fall 2021/Spring
2022 (FY22 Budget). Proformas approved after this date will be included in the FY23 Budget.

Please include a copy of the Business Case Program Proposal as part of the Financial Proforma Submission.

FINAL Approval Dates:

Deans Council <Input here>
Provost Office/Budget Office <Input here>
FARC (if applicable) <Input here>
NYSED Approval <Input here>
<School>
<Degree>
<Title>

Revenue
In this section, please incorporate enrollment projections; Guidance on these projections should be based on meetings with Enrollment Management as per the proforma process.
Please refer to "Notes" on the right side for more detailed step-by-step instructions.
Only new students are input cells. "Cohorts" are color-coded within enrollment projections to visually see how the cohort progresses over future years.
Anything highlighted in GRAY with BLUE font is an input cell. The rest are calculations.

Enrollment Projections - Headcount Notes:

Year 1 (first year of
program) Year 2 Year 3 Year 4 Year 5

2021 - 2022 2022 - 2023 2023 - 2024 2024 - 2025 2025 - 2026

New Students Only 0 0 0 0 0 Input required

Continuing Students
2nd-Year Continuing Students n/a 0 0 0 0 Calculations based on retention
3rd-Year Continuing Students n/a n/a 0 0 0 rates below; Override if you do not
4th-Year Continuing Students n/a n/a n/a 0 0 want to use retention rates to
determine continuing students;
5th-Year Continuing Students n/a n/a n/a n/a 0
Overriding is mostly applicable to
graduate or special programs in
Total New Students 0 0 0 0 0 which continuing students will
Total Continuing Students 0 0 0 0 0 differ by program.

Total Students 0 0 0 0 0

Retention
Retention Rate (Y1 - Y2)
Retention Rate (Y2 - Y3)
Retention Rate (Y3 - Y4)
Retention Rate (Y4 - Y5)
(These are used in the calculation of continuing students above) Input required: These calculate
continuing students; "Standard"
85% UG retention rates are already
inputted; Modify if standard rates
85%
do not apply to this program.
85%
85%

Tuition Pricing

Flat Tuition (per student) 46,978 48,152 49,356 50,590 51,855 Input required: Standard
Tuition Growth Rate 2.5% undergrad flat rate tuition and
tuition growth rate incorporated;
Discount Rate 55.7% 55.7% 55.7% 55.7% 55.7% Discount remains constant.

Tuition Projections

Gross Tuition Revenue $ - $ - $ - $ - $ - No input necessary -

Financial Aid $ - $ - $ - $ - $ - calculations.

Net Tuition Revenue $ - $ - $ - $ - $ -

Fee Projections Input required.

Only include any program-specific fees (lab, audition, etc.) for your program below. Calculation assumes that each student headcount pays the fee
Do not include institutional fees such GIS, student tech fee, etc. as these are budgeted and forecasted at the Budget and Planning Office level.

Program Specific Fee #1 $ - $ - $ - $ - $ - $ -

Program Specific Fee #2 $ - $ - $ - $ - $ - $ -
Program Specific Fee #X $ - $ - $ - $ - $ - $ -
Total Fees $ - $ - $ - $ - $ -

Other Revenue Projections Input required.

Please include other sources of revenue including Grants, Gifts, etc.

Grants $ - $ - $ - $ - $ -
Gifts $ - $ - $ - $ - $ -
Other Sources (itemize if appropriate) $ - $ - $ - $ - $ -
Total Other Revenue $ - $ - $ - $ - $ -

Total Revenue Projections No input necessary - calculations.

Gross Tuition Revenue $ - $ - $ - $ - $ -

Financial Aid $ - $ - $ - $ - $ -
Net Tuition Revenue $ - $ - $ - $ - $ -
Total Fees $ - $ - $ - $ - $ -
Total Other Revenue $ - $ - $ - $ - $ -

Total Revenue $ - $ - $ - $ - $ -
<School>
<Degree>
<Title>

Expenses
In this section, please incorporate expenses that directly result from your program
Anything highlighted in GRAY with BLUE font is an input cell. The rest are calculations.

FY20 Rates Used:

Benefit Rate for full-time 39.62%
Benefit Rate for part-time 13.87%
Benefit Rate for student 0.750%

Projected salary growth: 2.00%

Projected inflation expense growth: 2.00%

Year 0 / Initial Year 1 (first year of

Investment program) Year 2 Year 3 Year 4 Year 5
Expenses
2020 - 2021 2021 - 2022 2022 - 2023 2023 - 2024 2024 - 2025 2025 - 2026
Total Start-Up Funding $ -

Instructional Costs**
FT Faculty - Clinical (1) $ - $ - $ - $ - $ - $ -
FT Faculty - Clinical (2) $ - $ - $ - $ - $ - $ -
FT Faculty - Clinical (3) $ - $ - $ - $ - $ - $ -
FT Faculty - Stipends $ - $ - $ - $ - $ - $ -
Benefits $ - $ - $ - $ - $ - $ -
Total FT Faculty - Clinical $ - $ - $ - $ - $ - $ -

FT Faculty - Tenure Track (1) $ - $ - $ - $ - $ - $ -

FT Faculty - Tenure Track (2) $ - $ - $ - $ - $ - $ -
FT Faculty - Tenure Track (3) $ - $ - $ - $ - $ - $ -
Benefits $ - $ - $ - $ - $ - $ -
Total FT Faculty - Tenure Track $ - $ - $ - $ - $ - $ -

Adjunct Costs - Incremental to School/College $ - $ - $ - $ - $ - $ -

Adjunct Costs - Incremental to Dyson/Other School $ - $ - $ - $ - $ - $ -
Benefits $ - $ - $ - $ - $ - $ -
Total Adjunct Cost - Incremental $ - $ - $ - $ - $ - $ -

Total Instructional Costs $ - $ - $ - $ - $ - $ -

Staff Costs:
Full-Time Staff - School/College $ - $ - $ - $ - $ - $ -
Full-Time Staff - Dyson/Other $ - $ - $ - $ - $ - $ -
Full-Time Staff - Enrollment Management $ - $ - $ - $ - $ - $ -
Full-Time Staff - OSA $ - $ - $ - $ - $ - $ -
Full-Time Staff - Financial Aid $ - $ - $ - $ - $ - $ -
Benefits $ - $ - $ - $ - $ - $ -
Total Full-Time Staff $ - $ - $ - $ - $ - $ -

Part-Time Staff Costs - Incremental to School/College $ - $ - $ - $ - $ - $ -

Part-Time Staff Costs - Incremental to Dyson/Other $ - $ - $ - $ - $ - $ -
Part-Time Student Aide/FWS $ - $ - $ - $ - $ - $ -
Benefits $ - $ - $ - $ - $ - $ -
Total Part-Time Staff $ - $ - $ - $ - $ - $ -

Total Staff Costs $ - $ - $ - $ - $ - $ -

Total Marketing Costs $ - $ - $ - $ - $ - $ -

Supplies & Services*

General Supplies $ - $ - $ - $ - $ - $ -
Professional Fees $ - $ - $ - $ - $ - $ -
Library Funding (subscriptions/reference materials) $ - $ - $ - $ - $ - $ -
Adjunct Recruiting - School/College $ - $ - $ - $ - $ - $ -
Adjunct Recruiting - Dyson/Other $ - $ - $ - $ - $ - $ -
Minor Furniture & Equipment $ - $ - $ - $ - $ - $ -
Other - please list $ - $ - $ - $ - $ - $ -
Other - please list $ - $ - $ - $ - $ - $ -
Other - please list $ - $ - $ - $ - $ - $ -
Other - please list $ - $ - $ - $ - $ - $ -
Total Supplies & Services $ - $ - $ - $ - $ - $ -

Utility & Plant Contracts*

Other - please list $ - $ - $ - $ - $ - $ -
Other - please list $ - $ - $ - $ - $ - $ -
Total Utilities & Plant $ - $ - $ - $ - $ - $ -

Total Cost of Capital $ - $ - $ - $ - $ - $ -

Total Depreciation Expense $ - $ - $ - $ - $ - $ -

TOTAL EXPENSES $ - $ - $ - $ - $ - $ -

*Note: New financial proforma eliminates the use of contingency funding, cell phone expenses, conference travel, and internal usage. All start-up funding will be assumed by
the school.
** Note: All new faculty requests have to be submitted as part of the academic year overall school request and are NOT guaranteed based on the approval of this
proforma.

*** Note: Do not submit Graduate Assistantship requests as part of this proforma. They will be allocated as part of your overall school/division allocation.
<School>
<Degree>
<Title>

Capital
In this section, please incorporate your projected capital costs.
Anything highlighted in GRAY with BLUE font is an input cell. The rest are calculations.

Year 0 / Initial Year 1 (first year of

Investment program) Year 2 Year 3 Year 4 Year 5

2020 - 2021 2021 - 2022 2022 - 2023 2023 - 2024 2024 - 2025 2025 - 2026

Capital Projects Depr Life

Laboratory 5 $ - $ - $ - $ - $ - $ -
Construction Costs 3 $ - $ - $ - $ - $ - $ -
Office Equipment 1 $ - $ - $ - $ - $ - $ -
Specialized Equipment 1 $ - $ - $ - $ - $ - $ -

Total Cost of Capital Projects $ - $ - $ - $ - $ - $ -

Depreciation ###
Laboratory $ - $ - $ - $ - $ - $ -
Construction Costs $ - $ - $ - $ - $ - $ -
Office Equipment $ - $ - $ - $ - $ - $ -
Specialized Equipment $ - $ - $ - $ - $ - $ -

Total Depreciation Expense $ - $ - $ - $ - $ - $ -

Is new office space required for faculty?

If YES, please indicate # of new offices needed:

PLEASE NOTE: If the proforma is approved, a Strategic Capital Initiative must be submitted in order to secure the necessary capital funding.
<School> No input required: Based off of assumptions and calculations made on other sheets.
<Degree>
<Title>

Financial Summary
Year 0 / Initial Year 1 (first year of
Investment program) Year 2 Year 3 Year 4 Year 5

2020 - 2021 2021 - 2022 2022 - 2023 2023 - 2024 2024 - 2025 2025 - 2026
ENROLLMENT
Total New Students 0 0 0 0 0
Total Enrollment 0 0 0 0 0

REVENUE
Gross Tuition Revenue $ - $ - $ - $ - $ - $ -
Financial Aid $ - $ - $ - $ - $ - $ -
Net Tuition Revenue $ - $ - $ - $ - $ - $ -

Total Fees $ - $ - $ - $ - $ - $ -
Total Other Revenue $ - $ - $ - $ - $ - $ -
Total Revenue $ - $ - $ - $ - $ - $ -

EXPENSES
Payroll:
Total FT Faculty - Clinical $ - $ - $ - $ - $ - $ -
Total FT Faculty - Tenure Track $ - $ - $ - $ - $ - $ -
Total Adjunct Cost - Incremental $ - $ - $ - $ - $ - $ -
Total Instructional Costs $ - $ - $ - $ - $ - $ -

Total Full-Time Staff $ - $ - $ - $ - $ - $ -

Total Part-Time Staff $ - $ - $ - $ - $ - $ -
Total Staff Costs $ - $ - $ - $ - $ - $ -

Total Payroll Expenses $ - $ - $ - $ - $ - $ -

Non-Payroll:
Total Marketing Costs $ - $ - $ - $ - $ - $ -
Total Supplies & Services $ - $ - $ - $ - $ - $ -
Total Utilities & Plant $ - $ - $ - $ - $ - $ -

Total Non-Payroll Expenses $ - $ - $ - $ - $ - $ -

Total Expenses $ - $ - $ - $ - $ - $ -

Total Start-Up Costs $ -

Operating Net* $ - $ - $ - $ - $ - $ -
Operating Margin 0% 0% 0% 0% 0% 0%

Below Below Below Below Below Below

50% margin is needed to cover overhead costs. Expectations Expectations Expectations Expectations Expectations Expectations

Total Cost of Capital $ - $ - $ - $ - $ - $ -

Cumulative Operating Margin $ - $ - $ - $ - $ - $ -
Notes:

Tuition Rate name Description

Undergrad ft 12-18 FY 2019 Rate FY 2020 RateFY 2020 Rate
Full time Tuition Rate (per semestercredits $ 21,812 $ 22,357 $ 22,916
Rate increase
2.5%