Loyola University Chicago

Use the Proposed New Program or Academic Initiative form to provide information about the expected size of the proposed new program and the new revenues and expenses that are expected to result from it.

General Instructions

1. The worksheet provides space for five years of information. However, information about program size, revenues, and expenses should be provided for as many years as it will take for the program to grow to its expected ongoing size. For example, if the program is expected to grow gradually over three years and reach its full expected size in the fourth year, information should be provided for four years. If it is expected to require six years for growth and to reach its full size in the seventh year, information should be provided for seven years. Use an additional page of the form if necessary.

2. Provide information in time intervals that coincide with the University's fiscal year, even if this means that information shown for the initial year of the program is less than a full twelve months. The University's fiscal year begins on July 1 and ends on June 30. Summer programs that may bridge fiscal years should be reported completely in the old fiscal year (i.e., a summer program that begins on June 10, 2000 and ends on July 31, 2000 should be shown as FY 2000).

3. "New" is defined as new business to Loyola University, i.e., business that Loyola does not presently have: students who are not presently enrolled anywhere in the University, revenues that are not presently being realized, expenses that are not presently being incurred. Expected transfers of students, revenues, or expenses from other University divisions to the proposed new program represent displaced business, not new business, and should not be included in the financial analysis. If the proposed program will entail such a redirection of existing students, revenues, or expenses, this should be explained in an accompanying narrative.

   Instructions for selected specific lines

4. Estimated number of continuing student enrollments per year: Remember that it is unlikely that all new students will persist to the end of the program; factor in the expected attrition. If the number of continuing student enrollments is expected to vary by semester or quarter, show the annual number here and explain the details, by term, in an accompanying narrative.

5. Average number of courses per continuing student per year: If the estimated number of courses per continuing student is expected to vary by semester or quarter, show the annual number here and explain the details, by term, in an accompanying narrative.

6. Tuition per course: Use current (or most recently announced) tuition prices for all years shown.

7. Number of new FTEs: Indicate the new staffing that will be required by the proposed program:

   1. For full-time faculty: Use 1 FTE to indicate a new faculty member with a nine month contract, or 1.25 to indicate a new faculty member with a twelve month contract.

   2. For part-time faculty: Use 0.17 FTE for each three credit hour course to be taught by a part-time faculty member.

   3. For staff or students: Calculate the FTE by dividing the number of annual hours to be worked by 1950 (LSC, WTC, MAL) or 2080 (MED) annual hours, as appropriate, for the campus on which the new employee will be based.

8. Tuition discount/remission:

   1. If the proposed new program includes tuition revenues from full-time undergraduate students, include a tuition discount of 34.3% of gross tuition revenue as a revenue reduction.

   2. If the proposed new program includes tuition remission for graduate assistants, include the tuition remission on this line.

9. Use constant dollars for all years shown; do not add an inflationary factor.

10. For employee benefits, use the following benefit rates:

    1. For full-time faculty salaries in budget lines 704, 706, 711, 716, 719 - use 27.57%.

    2. For part-time faculty salaries in budget lines 705, 707 - use 8.03%.

    3. For staff salaries in budget lines 701, 702, 703, 708 - use 21.11%.

    4. For student salaries in budget lines 700 - use 0%.

    Go to Proposed New Program or Academic Initiative form.