Higher Education Services Corporation
The Executive Budget recommends (analysis as of January 27, 2004):
· An FTE level of 735 which represents no change from the Governor’s revised 3/31/03 FTE estimate of 735. This new estimate is 25 FTEs lower than last year’s Executive Budget, which estimated the 3/31/03 FTE level to be 760. The revisions occurred in the Administration program Special Revenue Funds-Other (-10) and Guaranteed Loan Programs Special Revenue Fund-Other (-15).
· An increase in All Funds funding of $4.2 million (4.2 percent). This is result of increases of $3.4 million (3.5 percent) in Special Revenue Funds-Other and an increase of $863,000 (13.6 percent) in Special Revenue Funds-Federal.
· Modest increases in personal service appropriations for all programs. This does not appear to be consistent with the unscheduled reduction of 25 FTEs that occurred during the current (2003-04) fiscal year. This issue should be clarified with HESC management.
· A $955,000 increase in the non-personal service appropriation in the HESC Insurance Premium Payments Account with the Guaranteed Loan program. The purpose of this increase should be explained by HESC management.
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Higher Education Services Corporation |
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Program Details-State Operations |
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Enacted |
Proposed |
Change in |
Percent |
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Program |
2003-04 Budget |
2004-05 Budget |
Appropriation |
Change |
|
All Funds |
$101,479,000 |
$105,697,000 |
$4,218,000 |
4.2% |
|
Special Revenue-Other |
$95,139,000 |
$98,494,000 |
$3,355,000 |
3.5% |
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Special Revenue-Federal |
$6,340,000 |
$7,203,000 |
$863,000 |
13.6% |
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_ |
_ |
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Administration |
$45,133,000 |
$47,389,000 |
$2,256,000 |
5.0% |
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Personal Service |
$2,454,000 |
$2,472,000 |
$18,000 |
0.7% |
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Nonpersonal Service |
$3,838,000 |
$3,957,000 |
$119,000 |
3.1% |
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Mainenance Undistributed |
($6,292,000) |
($6,429,000) |
($137,000) |
2.2% |
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Special Revenue-Other (SRO) |
$45,133,000 |
$47,389,000 |
$2,256,000 |
5.0% |
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_ |
_ |
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HESC-Insurance Premium Payments Acct - (SRO) |
$44,633,000 |
$46,889,000 |
$2,256,000 |
5.1% |
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Personal Service |
$14,080,000 |
$14,186,000 |
$106,000 |
0.8% |
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Nonpersonal Services |
$16,828,000 |
$17,350,000 |
$522,000 |
3.1% |
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Fringe Benefits |
$11,900,000 |
$14,186,000 |
$2,286,000 |
19.2% |
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Indirect Costs |
$1,825,000 |
$1,167,000 |
($658,000) |
-36.1% |
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_ |
_ |
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State Student Financial Aid Audit Acct - (SRO) |
$500,000 |
$500,000 |
$0 |
0.0% |
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_ |
_ |
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Grants & Scholarship |
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_ |
_ |
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Personal Service |
$3,766,000 |
$3,794,000 |
$28,000 |
0.7% |
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Nonpersonal Service |
$942,000 |
$971,000 |
$29,000 |
3.1% |
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Mainenance Undistributed |
($4,708,000) |
($4,765,000) |
($57,000) |
1.2% |
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_ |
_ |
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Guaranteed Loan (SRO) |
$56,346,000 |
$58,308,000 |
$1,962,000 |
3.5% |
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_ |
_ |
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Federal GEAR-UP Acct - (SRO) |
$6,340,000 |
$7,203,000 |
$863,000 |
13.6% |
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_ |
_ |
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HESC-Insurance Premium Payments Acct - (SRO) |
$50,006,000 |
$51,105,000 |
$1,099,000 |
2.2% |
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Personal Service |
$19,206,000 |
$19,350,000 |
$144,000 |
0.7% |
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Nonpersonal Service |
$30,800,000 |
$31,755,000 |
$955,000 |
3.1% |
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_ |
_ |
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College Choice Tuition Savings Pgm * |
$717,400 |
$723,000 |
$5,600 |
0.8% |
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Nonpersonal Service |
$0 |
$0 |
_ |
_ |
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Special Revenue-Other (SRO) |
$717,400 |
$723,000 |
$5,600 |
0.8% |
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_ |
_ |
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College Savings Acct - (SRO) |
$717,400 |
$723,000 |
$5,600 |
0.8% |
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Personal Service |
$375,000 |
$375,000 |
$0 |
0.0% |
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Nonpersonal Services |
$193,000 |
$176,000 |
($17,000) |
-8.8% |
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Fringe Benefits |
$135,900 |
$159,000 |
$23,100 |
17.0% |
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Indirect Costs |
$13,500 |
$13,000 |
($500) |
-3.7% |
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* Appears in Miscellaneous Section of Budget Books |
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