Schools on the rise

College Search & Selection
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<p>^^ lol… I wrote a whole page and it got erased due to prolong log-in/reload!! lol</p>

<p>Anyhow, Good Question, Barrons!! I am also expecting a report on budget spending before the end of the year as indicated by President’s Gee in his meeting with the students last week. In short, I am not certain how UW-Madison Health System works, but at TOSU, OSU Medical Center is a legal entity of OSU. In fact, the school had to sell $741 million in bond last year in order to finance its $1.1 billion construction. As for Michigan’s $2.5 billion construction, I recall reading that it included a $750 million C.S. Mott’s Children’s hospital which just opened up recently. And I did not include the $800 million Nationwide Children’s Hospital expansion which is affiliated with OSU School of Medicine. In general, medical hospitals of various specialties are the training ground for the 3rd and 4th year medical students (nowadays, even 1st and 2nd year students) during their clinical rotations as well as learning facilities for the residents and fellows alike in addition to research. So, I would also consider hospitals as a part of school’s academic buildings.</p>

<p>Source: <a href=“http://www.bondbuyer.com/issues/119_423/ohio_state_university_babs-1017100-1.html[/url]”>http://www.bondbuyer.com/issues/119_423/ohio_state_university_babs-1017100-1.html&lt;/a&gt;&lt;/p&gt;

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<p>“And I did not include the $800 million Nationwide Children’s Hospital expansion which is affiliated with OSU School of Medicine>”</p>

<p>Why would you even mention it? TOSU is not unique in that regard and does not own that hospital.</p>

263

<p>^^ Because it is the pediatric teaching hospital for the Ohio State University School of Medicine. It has been academically related to TOSU for the last 100 years.</p>

<p>[Nationwide</a> Children’s Hospital (Columbus) - Wikipedia, the free encyclopedia](<a href=“http://en.wikipedia.org/wiki/Nationwide_Children’s_Hospital_(Columbus)]Nationwide”>Nationwide Children's Hospital - Wikipedia)</p>

<p>It’s the country’s biggest pediatric expansion. Ever.</p>

<p><a href=“Nationwide Children's Hospital”>http://www.nationwidechildrens.org/campus-expansion&lt;/a&gt;&lt;/p&gt;

<p>Grand Opening: June 2012 :)</p>

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<p>Upon further research into Nationwide Childrens’ Hospital, I’ve found that TOSU actually is part owner of the hospital. The school also currently injects $60 million a year into the hospital (not counting school administrative costs), and it has served as the home of the TOSU’s Department of Pediatrics for more than a century. The Chair of the Board is Mrs. Abigail S. Wexner at NCH, wife of the Chair of the Trustee at TOSU - Mr. Leslie Wexner. In addition, the expansion project to be completed will cost $1 billion instead of the aforementioned $800 million. Finally, the new facility will certainly complement our other new teaching hospitals, mainly the $1.1 billion OSUMC expansion, Ross Heart Hospital, and Stefanie Spielman Breast Cancer Hospital. Hopefully these hospitals will continue to bring in more and more revenues for TOSU once in full-operation.</p>

<p>[The</a> Ohio State University - Statistical Summary](<a href=“http://www.osu.edu/osutoday/stuinfo.php#research]The”>http://www.osu.edu/osutoday/stuinfo.php#research)</p>

<p><a href=“Search A to Z List of sites | Ohio State”>Search A to Z List of sites | Ohio State;

<p>[100</a> Top Grossing Hospitals in America | Lists](<a href=“Error 404 Page”>100 Top Grossing Hospitals in America)</p>

<p>P.S. I’ve also studied the overall annual operation budgets (revenues & expenditures) of Wisconsin, Michigan and Ohio State without hospitals, and found them to be similar in the last few years. The major difference would be that TOSU receives higher State and Tuition revenues, whereas Wisconsin and Michigan receives higher Federal research revenues.</p>

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<p>Upon further research into Nationwide Childrens’ Hospital, I’ve found that TOSU actually is part owner of the hospital. The school also currently injects $60 million a year into the hospital (not counting school administrative costs), and it has served as the home of the TOSU’s Department of Pediatrics for more than a century. The Chair of the Board is Mrs. Abigail S. Wexner at NCH, wife of the Chair of the Trustee at TOSU - Mr. Leslie Wexner. In addition, the expansion project to be completed will cost $1 billion instead of the aforementioned $800 million. Finally, the new facility will certainly complement our other new teaching hospitals, mainly the $1.1 billion OSUMC expansion, Ross Heart Hospital, and Stefanie Spielman Breast Cancer Hospital. Hopefully these hospitals will continue to bring in more and more revenues for TOSU once in full-operation.</p>

<p>[The</a> Ohio State University - Statistical Summary](<a href=“http://www.osu.edu/osutoday/stuinfo.php#research]The”>http://www.osu.edu/osutoday/stuinfo.php#research)</p>

<p>[Pediatrics</a>, Department of- Departmental Listings - The Ohio State University](<a href=“Search A to Z List of sites | Ohio State”>Search A to Z List of sites | Ohio State)</p>

<p>[100</a> Top Grossing Hospitals in America | Lists](<a href=“Error 404 Page”>100 Top Grossing Hospitals in America)</p>

<p>P.S. I’ve also studied the overall annual operation budgets (revenues & expenditures) of Wisconsin, Michigan and Ohio State without hospitals, and found them to be similar in the last few years. The major difference would be that TOSU receives higher State and Tuition revenues, whereas Wisconsin and Michigan receives higher Federal research revenues. Also, when it comes to construction spending, all three schools carry out on ave of 1,000 constructions per year at roughly $250 million budget. Moreover, many of the construction and budgets for projects completed by 2005 or further had budget allocation traced all the way back to 1998 - school’s last campus master plan which I also read.</p>

<p><a href=“http://www.wisc.edu/about/facts/budget.php[/url]”>http://www.wisc.edu/about/facts/budget.php&lt;/a&gt;&lt;/p&gt;

<p>[Campus</a> Master Plan](<a href=“http://www.uc.wisc.edu/masterplan/index.html]Campus”>Campus Master Plan)</p>

<p><a href=“http://www.finops.umich.edu/reports/2010/cfo/[/url]”>http://www.finops.umich.edu/reports/2010/cfo/&lt;/a&gt;&lt;/p&gt;

<p>[Ohio</a> State spent $243.8M on 1,266 construction projects in 2010 - Campus - The Lantern - Ohio State University](<a href=“http://www.thelantern.com/campus/ohio-state-spent-243-8m-on-1-266-construction-projects-in-2010-1.1979960]Ohio”>http://www.thelantern.com/campus/ohio-state-spent-243-8m-on-1-266-construction-projects-in-2010-1.1979960)</p>

<p>Last but not least, No, UNC could not have spent $2.5 billion on major constructions alone in the time frame mentioned above, its similar budget and endowment to both TOSU and Wisconsin simply do not allow ($1.5 billion would be top imho). See:</p>

<p><a href=“http://www.unc.edu/finance/fd/c/docs/2010_cafr.pdf[/url]”>http://www.unc.edu/finance/fd/c/docs/2010_cafr.pdf&lt;/a&gt;&lt;/p&gt;

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<p>@swimchris,</p>

<p>“Not to mention the data is from 1993 and report is from 1997.”</p>

<p>Indeed, perhaps you can re-formulate the recent NRC ratings for us like that Texas A&M Professor did over 10 years ago?! I bet Ohio State’s rankings should be even higher these days as it is one of the Top-10 Research Expenditures Universities in the country.</p>

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<p>UNC</p>

<p>[The</a> Daily Tar Heel :: State budget cuts will cause ?damage everywhere? at UNC](<a href=“http://www.dailytarheel.com/index.php/article/2011/07/state_budget_cuts_will_cause_damage_everywhere_at_unc]The”>http://www.dailytarheel.com/index.php/article/2011/07/state_budget_cuts_will_cause_damage_everywhere_at_unc)</p>

<p>UM & MSU</p>

<p><a href=“http://www.crainsdetroit.com/article/20110217/FREE/110219878/budget-cuts-40-million-from-university-of-michigan-allocation-others-hit-too[/url]”>Budget cuts $40 million from University of Michigan allocation; others hit, too;

<p>Wisconsin</p>

<p>[State</a> tells UW System to make additional $65.7M in budget cuts](<a href=“http://host.madison.com/wsj/news/local/education/university/article_70fc6c30-f9ba-11e0-8cb1-001cc4c002e0.html]State”>State tells UW System to make additional $65.7M in budget cuts)</p>

<p>Virginia</p>

<p><a href=“http://www2.dailyprogress.com/news/2011/oct/07/uva-nervously-awaits-nature-state-budget-cuts-ar-1367844/[/url]”>http://www2.dailyprogress.com/news/2011/oct/07/uva-nervously-awaits-nature-state-budget-cuts-ar-1367844/&lt;/a&gt;&lt;/p&gt;

<p>Washington</p>

<p><a href=“http://www.washington.edu/staterelations/uw-describes-potential-effects-of-large-budget-cuts/[/url]”>http://www.washington.edu/staterelations/uw-describes-potential-effects-of-large-budget-cuts/&lt;/a&gt;&lt;/p&gt;

<p>Texas</p>

<p><a href=“http://www.statesman.com/news/texas-politics/budget-cuts-threaten-uts-first-class-status-officials-1226194.html[/url]”>http://www.statesman.com/news/texas-politics/budget-cuts-threaten-uts-first-class-status-officials-1226194.html&lt;/a&gt;&lt;/p&gt;

<p>California </p>

<p><a href=“Budget Cuts Hit California Higher Education Hard - The New York Times”>Budget Cuts Hit California Higher Education Hard - The New York Times;

<p>Illinois</p>

<p><a href=“http://archive.chicagobreakingnews.com/2010/01/u-of-i-staff-faces-furloughs-because-of-state-budget-issues.html[/url]”>http://archive.chicagobreakingnews.com/2010/01/u-of-i-staff-faces-furloughs-because-of-state-budget-issues.html&lt;/a&gt;&lt;/p&gt;

<p>New York</p>

<p><a href=“http://online.wsj.com/article/APf6aaf05fc11c46e7a78621d594e11cb1.html[/url]”>http://online.wsj.com/article/APf6aaf05fc11c46e7a78621d594e11cb1.html&lt;/a&gt;&lt;/p&gt;

<p>On the other hand, Ohio State virtually no cut in the last 5 years with roughly $500 million State appropriation for next year.</p>

<p>[The</a> Ohio State University - Statistical Summary](<a href=“http://www.osu.edu/osutoday/stuinfo.php]The”>http://www.osu.edu/osutoday/stuinfo.php)</p>

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<p>Not what their budget says.</p>

<p>[Resource</a> Planning - Office of Business and Finance - The Ohio State University](<a href=“http://www.rpia.ohio-state.edu/cfb/]Resource”>http://www.rpia.ohio-state.edu/cfb/)</p>

<p>The University will increase undergraduate instructional and general fees by 3.5% in FY 2012. This
increase is necessary because of a significant decline in unrestricted state support in the FY 2012-
2013 state budget due to the loss of the federal stimulus funding that was used in FY 2011and FY
2010 in place of state general revenue funds. This represents a reduction in state funding of
approximately 16% in FY 2012. The proportional share of state support in the Columbus campus
budget is expected to fall to a historic low of 29% relative to the total of state funding and tuition
and fees in FY 2012. (See chart below.) This decrease represents a continuation of the overall longterm
pattern of decreases in state support as a proportion of income.</p>

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<p>^^^^Ouch!^^^^</p>

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<p>barrons, Percentage is relative, since each state’s overall budget varies. Just find me a State that provides $500 million appropriation 2011-12 to their flagship. This amount is equivalent to the State appropriation for University of Wisconsin - Madison + University of Michigan - Ann Arbor next year.</p>

<p>There is simply no comparison!! lol</p>

271

<p>I have to agree with a few other people here that Wake Forest is definitely on the rise. Ten years ago, even five years ago, hardly anyone applied. Now its amazing to see the diversity.</p>

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<p><a href=“http://www.rpia.ohio-state.edu/cfb/docs/cfb-2011.pdf[/url]”>http://www.rpia.ohio-state.edu/cfb/docs/cfb-2011.pdf&lt;/a&gt;&lt;/p&gt;

<p>From same link that barrons provided, I see on Page 22, it clearly indicated that since 2003, the state support continues to increase, millions in monetary terms. The % of state support is decreased due to TOSU’s increase in overall budget revenues (tuition for instance), not budget cut! It is vastly different from decrease in state funding in hundreds of millions as is the case with the rest of the country!!</p>

<p>Here is a good example: </p>

<p>For the State of Michigan</p>

<p>Quote:</p>

<p>"UM will receive $255 million in allocations in the 2012 fiscal year, down from the $325 million it received for fiscal 2011. Others allocations for 2012 are:</p>

<p>• Wayne State University: $169 million, down from $220 million.</p>

<p>• Michigan State University: $223 million, down from $292 million.</p>

<p>• Eastern Michigan University: $61 million, down from $78 million.</p>

<p>• Oakland University: $39 million, down from $52 million.</p>

<p>• University of Michigan-Dearborn: $20 million, down from $25 million."</p>

<p>*Note: For the blue fans out there, I did not target only Umich, I also listed my alma mater MSU.</p>

<p>Now, this is what I meant by decline in State support / budget cut!!</p>

<p>Source: <a href=“http://www.crainsdetroit.com/article/20110217/FREE/110219878/budget-cuts-40-million-from-university-of-michigan-allocation-others-hit-too[/url]”>Budget cuts $40 million from University of Michigan allocation; others hit, too;

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<p><a href=“http://www.rpia.ohio-state.edu/cfb/docs/cfb-2011.pdf[/url]”>http://www.rpia.ohio-state.edu/cfb/docs/cfb-2011.pdf&lt;/a&gt;&lt;/p&gt;

<p>It’s Page 10, but somehow my browser software says Page 22… @_@" Anyhow, I am glad to see that although State has been continuing to support the university, TOSU has since gradually decreasing its reliance on State support over the decade.</p>

<p>In conclusion: Based on the finding, I will then move a few years ahead of my schedule in terms of fulfilling my prophesies regarding to Ohio State’s ascending into one of the Top-5 Universities in the nation by year 2020 instead of 2025. </p>

<p>Nah, I will just stay put for now! :p</p>

<p>P.S. Thanks for providing the link, barrons! I’ve learned a lot! :)</p>

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<p>

I can’t speak for UNC and UVA, but the figures you had for Michigan is wrong.</p>

<p>The $2.5 billion constructions at Michigan you cited earlier were just projects on-going in 2008. And that’s after spending $836 million for 10 other building projects the two years before. Those projects have since been completed, together with quite a few more for another $1.3 billion. Michigan also spent $108 million for the 174-acre (30 buildings) Pfizer research complex for the University’s growing research activities in health, biomedical sciences and other disciplines.</p>

<p>Currently there are more than a half billion worth of major construction and renovations underway. So from 2007-2011, Michigan has invested more than $5 billlion on new buildings and renovations. I have no idea how much Michigan will invest on new projects in the next 5 years.</p>

<p>How much has tOSU’s budgeted from 2012-2017 again?</p>

<p>For more details on Michigan’s major construction projects, see here – [U-M&lt;/a&gt; AEC Project Information](<a href=“http://www.aec.bf.umich.edu/projects.html]U-M”>http://www.aec.bf.umich.edu/projects.html)</p>

275

<p>“I can’t speak for UNC and UVA, but the figures you had for Michigan is wrong.”</p>

<p>Thanks for the update! I don’t know. It seems to me that the pie (budget) just does not grow larger. But, I am always learning! :)</p>

<p>^^“How much has tOSU’s budgeted from 2012-2017 again?”</p>

<p>Phase I - $2.5 billion (2007-2011) which included Sasaki Master Planning, $1.1 billion OSUMC, and over hundred million dollar projects such as Ohio Union, Thompson Main Library, South High Rise,…etc.</p>

<p>Phase II - $5 billion (2012-2017) according to Gordon Gee. But we won’t know how the $5 billion will be spent, I would assume that half would be for software (faculties hiring & research expenditures).</p>

<p>Phase III - $2.5 billion (2017-2020) His ultimate retirement.</p>

<p>Above figures are not part of annual Operational Budget (roughly $5 billion) & Research Expenditures (roughly $850 million). Here is the regular annual $5 billion budget for next year taken from TOSU’s official website.</p>

<p>Budget, FY 2012 (as approved by Trustees)
Total income $5.01 billion
State appropriations $493 million
Other government $426 million
Student fees $916 million
Hospitals $1.97 billion
Auxiliaries (residence halls, Athletics, etc.) $312 million
Other income $890 million</p>

<p>Total expenditures $4.95 billion
Instructional & General $1.48 billion
Separately budgeted research $506 million
Public service $129 million
Scholarships & fellowships $242 million
Auxiliaries $334 million
Hospitals $1.92 billion
OSU Physicians $342 million</p>

<p>Financial Information (Fiscal Year: July 1-June 30)
(Figures are rounded and may not sum to total)</p>

<p>Source: <a href=“http://www.osu.edu/osutoday/stuinfo.php[/url]”>http://www.osu.edu/osutoday/stuinfo.php&lt;/a&gt;&lt;/p&gt;

276

<p>“So from 2007-2011, Michigan has invested more than $5 billlion on new buildings and renovations.”</p>

<p>[University</a> of Michigan Spending $2.5 Billion to Grow - NYTimes.com](<a href=“http://www.nytimes.com/2008/12/31/realestate/commercial/31michigan.html]University”>University of Michigan Spending $2.5 Billion to Grow - The New York Times)</p>

<p>I really don’t know. I am not an expert in this. If you say so, I will take your words then. I know that for TOSU, we had to scramble for $$$, but luckily, Phase I budget is all paid for, half with bonds. So, maybe Michigan’s construction budget is gigantic. I am confused, since overall operational budget between TOSU and UofM is nearly identical at around $5 billion per year.</p>

277

<p>And for Phase II, we had to issue another $500 million century bond (the market interest was for $2 billion, but we only sold $500 million now), coupled with a $2.5 billion fundraising campaign, and we are still short. So, Gee is leasing out school’s parking lots to private for another $400 million, two Golf Courses, and perhaps selling other non-academic related school assets such as OSU Airport, and a whole bunch of other stuffs in order to finance the spending. It’s do or die imho, and TOSU is going all out… >o<"</p>

<p><a href=“http://www.dispatch.com/content/stories/local/2011/10/23/ohio-state-sells-500m-in-bonds-for-construction.html[/url]”>http://www.dispatch.com/content/stories/local/2011/10/23/ohio-state-sells-500m-in-bonds-for-construction.html&lt;/a&gt;&lt;/p&gt;

<p>P.S. I know there is the $375 million dormitory renovation & $126 million CBEC building. The rest, I really have no clue… lol</p>

<p><a href=“http://engineering.osu.edu/news/2011/11/new-building-planned-chemical-and-biomolecular-engineering-chemistry[/url]”>http://engineering.osu.edu/news/2011/11/new-building-planned-chemical-and-biomolecular-engineering-chemistry&lt;/a&gt;&lt;/p&gt;

278

<p>Quote:</p>

<p>"Another safeguard is the pile of dough on which OSU sits: $4.1 billion in cash, short- and long-term investments, including its $1.4 billion gifted endowment.</p>

<p>“Ohio State has about two times in cash and investments on our balance sheet” what it has in debt, Chatas said."</p>

<p>[OSU</a> ?in solid shape? despite new debt | The Columbus Dispatch](<a href=“http://www.dispatch.com/content/stories/local/2011/10/30/osu-in-solid-shape-despite-new-debt.html]OSU”>http://www.dispatch.com/content/stories/local/2011/10/30/osu-in-solid-shape-despite-new-debt.html)</p>

<p>Fingers Crossed!! My money is on TOSU!!!<br>
Hopefully the school can really pull it off… Go Bucks!! lol</p>

279

<p>

Don’t take my words for it. You can add up the numbers yourself. Go to U-M major project site (<a href=“http://www.aec.bf.umich.edu/projects/P00002056/data.html);%5B/url%5D”>http://www.aec.bf.umich.edu/projects/P00002056/data.html);</a> click on each project and check out the budget listed under project data.</p>

<p>Construction projects are not paid from the operating budget. For example, half of the cost of the new Ross School of Business came from Stephen Ross.</p>

<p>p.s. And that’s why Michigan’s AAA rating is an advantage.</p>

280

<p>^^ Thanks for the response!</p>

<p>The link you provided does not work. But I think you meant this link?</p>

<p>[U-M&lt;/a&gt; AEC Project Information](<a href=“http://www.aec.bf.umich.edu/projects.html]U-M”>http://www.aec.bf.umich.edu/projects.html)</p>

<p>If so, you should be able to see that Major Projects + Completed Projects span a period of roughly two decades from the late 90s to late 2010s. The ones that were completed by the early 2000s actually started in late 1990s (not counting planning stage). So, I am going to have to go with The New York Times’ report of $2.5 billion construction campaign instead of more than $5 billion as you alluded above from 2007-2011. Sorry.</p>

<p>[University</a> of Michigan Spending $2.5 Billion to Grow - NYTimes.com](<a href=“http://www.nytimes.com/2008/12/31/realestate/commercial/31michigan.html]University”>University of Michigan Spending $2.5 Billion to Grow - The New York Times)</p>