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Affordability and Financial Strength - Interactive & Sortable Table Representation
Fiscal Year 2010 Performance Report - December 18, 2009 Update

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Affordability and Financial Strength Progress

Western Illinois University has a strong history and commitment to maintaining cost predictability and affordability. From the time of application at the senior year of high school until college graduation, the student could have experienced four tuition and fee increases. However, Western’s Cost Guarantee assumes no cost increases for four year once the student is enrolled. When dividing the Cost Guarantee over the students four years, Western has kept the all costs increases below the average increase in the Higher Education Price Index.

Table 15: Western Illinois University - Macomb All Cost Increases, Changes in Higher Education Price Index,
and Annual State Appropriations
Fiscal Year 2005 through Fiscal Year 2009
(click on column title to sort)

Cost Comparisons	2005	2006	2007	2008	2009
Average Four Year All Costs Increase	3.6%	3.0%	2.1%	2.7%	1.8%
Average Four Year Increase in the Higher Education Price Index	3.7%	4.4%	4.0%	4.0%	2.3%
One Year Change in State Appropriations (operating)	2.5%	0.0%	1.5%	1.9%	2.8%

 

With limited cost increases, the percent of students graduating from Macomb with loans decreased during 2009, and the average debt load of these graduates increased by only $295 or 1.7 percent.

Table 16: Percent of Western Illinois University Graduates with Loans and the Average Debt Load of Graduating Students with Loans
Fiscal Year 2005 through 2009
(click on column title to sort)

Student Debt Comparisons	2005	2006	2007	2008	2009
Percent of students with loans	62%	62%	62%	67%	60%
Average debt load of graduates with loans	$14,850	$14,850	$16,400	$17,272	$17,567

 

The Macomb Campus is ranked ninth lowest (of 13) in the percent of graduating students with loans. The average debt load of these graduates is the ninth lowest.

Table 17: Percent of Graduates with Loans and the Average Debt Load of Graduating Students with Loans
Western Illinois University - Macomb Benchmark Institutions Fiscal Year 2008
(click on column title to sort)

 

 

 

 

 

 

 

 

 

 

Compared to peer institutions, the Quad Cities Campus has the lowest percent of graduating students with loans. Furthermore, the average debt load of these students is the lowest for the five institutions reporting data.

Table 18: Percent of Graduates with Loans and the Average Debt Load
Western Illinois University - Quad Cities Benchmark Institutions Fiscal Year 2008
(click on column title to sort)

 

 

 

 

 

In maintaining commitments to affordability, it is important to note a fundamental change in the state financing of Illinois public higher education. Annual state operating appropriations are below Western’s all costs increases and the Higher Education Price Index. This, coupled with unfunded state mandates, has made the University increasing reliant on University Income Fund. State appropriations now account for less than one-half of the University’s annual general revenue appropriation.

Table 19: Western Illinois University Appropriation History
Fiscal Year 2006 through Fiscal Year 2010
(click on column title to sort)

Dollars	2006	2007	2008	2009	2010
Total Appropriation	$103,154,100	$109,728,300	$118,287,500	$121,919,600	$123,919,600
General Revenue Fund	$53,391,100	$57,213,400	$58,287,500	$59,919,600	$59,919,600
University Income Fund	$46,763,000	$52,514,900	$60,000,000	$62,000,000	$64,000,000

 

Percent	2006	2007	2008	2009	2010
Total Appropriation Change	5.6%	6.4%	7.8%	3.1%	1.6%
General Revenue Change	0.0%	1.5%	1.9%	2.8%	0.0%
University Income Change	13.2%	12.3%	14.3%	3.3%	3.2%
Income Fund Percent of Total	45.3%	47.9%	50.7%	50.9%	51.7%

 

With conservative fiscal management, Western Illinois University contains costs and provides the resource base to support simultaneous advancement of the academic mission and service operations of the University.  

The following financial ratios described in Strategic Financial Analysis for Higher Education (6th Edition) were used to determine if the institutional resource base is strengthening and supporting the goals and priorities of the University. Through conservative fiscal management, the University has improved it financial strength. 

The University’s primary reserve ratio demonstrates financial strength. A negative or decreasing trend over time would have indicated a weakening financial condition. The net operating revenue shows that Western has operated with a surplus in five of the last six years, therefore enabling the University to carry forward funds in conjunction with limitations established in Illinois statutes for public institutions. The viability ratio has also significantly improved since 2003, giving the University additional expendable net assets to satisfy debt obligations. While the return on net assets ratio is quite volatile and sensitive to inflationary and other economic conditions, including the recent recession, Western Illinois University maintains a constant return on net assets ratio.

Table 20: Western Illinois University Financial Ratios Reported to the Higher Learning Commission
North Central Association of Colleges and Schools
Fiscal Year 2006 through Fiscal Year 2010
(click on column title to sort)

Financial Strength Comparisons	2003	2004	2005	2006	2007	2008
Primary Reserve Ratio	0.090	0.072	0.082	0.101	0.139	0.130
Net Operating Revenue Ratio	0.004	-0.013	0.021	0.017	0.033	0.014
Return on Net Assets Ratio	0.060	0.056	0.069	0.083	0.102	0.052
Viability Ratio	0.299	0.315	0.357	0.035	0.545	0.567

 

Western is committed to efficiently allocating resources. Between Fiscal Years 2004 and 2008, the University remained below the statewide average on the instructional costs per credit hour.

Table 21: Instructional Costs per Credit Hour at Illinois Public Universities
Fiscal Year 2004 through Fiscal Year 2008
(click on column title to sort)

School	2004	2005	2006	2007	2008
Statewide Average	$244.41	$261.31	$266.81	$279.58	$292.74
Chicago State University	$281.15	$290.03	$309.97	$323.57	$324.20
Eastern Illinois University	$218.49	$232.03	$237.85	$247.15	$262.43
Governors State University	$272.58	$278.25	$299.12	$314.03	$313.87
Illinois State University	$202.85	$209.78	$225.52	$238.00	$243.58
Northeastern Illinois University	$215.64	$227.10	$232.52	$237.91	$255.41
Northern Illinois University	$220.82	$233.22	$235.35	$244.96	$265.46
Southern Illinois University - Carbondale	$249.78	$257.69	$275.18	$283.79	$294.79
Southern Illinois University - Edwardsville	$203.19	$215.12	$222.70	$235.88	$236.75
University of Illinois - Chicago	$263.71	$292.95	$299.55	$321.29	$324.64
University of Illinois - Springfield	$270.54	$245.97	$259.15	$313.24	$346.59
University of Illinois - Urbana/Champaign	$291.96	$322.90	$314.84	$327.46	$343.15
Western Illinois University	$199.40	$211.97	$220.02	$235.21	$250.82

 

Western also maintains administrative costs per credit hour that are below the statewide average. The five-year increase in the administrative and support cost per credit hour at Western was $13.15, which is below the statewide average increase of $16.22.

Table 22: Administrative Costs per Credit Hour at Illinois Public Universities
Fiscal Year 2004 through Fiscal Year 2008
(click on column title to sort)

School	2004	2005	2006	2007	2008
Statewide Average	$50.40	$72.09	$72.20	$74.79	$80.38
Chicago State University	$115.02	$121.46	$131.99	$131.76	$130.16
Eastern Illinois University	$60.88	$69.19	$71.22	$71.84	$75.87
Governors State University	$97.63	$100.51	$111.93	$124.00	$129.85
Illinois State University	$65.01	$66.77	$73.14	$77.60	$76.59
Northeastern Illinois University	$68.46	$71.71	$59.13	$60.86	$66.11
Northern Illinois University	$69.63	$73.90	$86.95	$80.87	$91.89
Southern Illinois University - Carbondale	$79.42	$78.54	$81.43	$80.70	$87.58
Southern Illinois University - Edwardsville	$55.84	$58.81	$60.01	$60.47	$65.28
University of Illinois - Chicago	$83.80	$81.89	$90.58	$95.41	$121.33
University of Illinois - Springfield	$50.59	$69.28	$65.99	$72.28	$70.81
University of Illinois - Urbana/Champaign	$56.13	$73.97	$63.18	$68.96	$77.70
Western Illinois University	$50.40	$51.47	$54.93	$59.92	$63.55

 

Limited staff growth helps to control administrative costs. The percent increase in the total number of staff at Western was below the average of all other Illinois public universities. Staff headcounts are reported in the table below as there is not published data for non-faculty staff years. Headcount serves as a proxy for staff years as most staff are on a 12-month contract and would be counted as one staff year.

Table 23: Staff Headcount at Western Illinois University Compared to All Other Illinois Public Universities
Fiscal Year 2004 and Fiscal Year 2008
(click on column title to sort)

Fall Staff (Headcount)	2004	2008	Change	Percent
Western Illinois University	1,271	1,324	53	4.2%
All Other Illinois Public Universities	44,171	47,533	3,362	7.6%

 

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