From Howard Bunsis, AAUP and EMU - Re: Please look these over for our benefit. It sounded like you were having a tough time finding it.

Bill

Thanks for the notes

As to money I will get for you, that is not an accurate
portrayal of what I stated.

What I did state was:
* You can add many items besides across the board
salary increases to your contract that can affect
compensation

* The nature of these items is entirely up to you

* The lack of ability to pay argument in many universities
is bogus, as my attached article argues.

* As to the audit report (the financial statements are
all that is relevant), the 2008 statements
certainly indicate financial strength.  In all fairness,
without seeing 2009, it is hard to judge the complete
picture.

If you were entering negotiations, a complete analysis would
be undertaken.  It would be a thorough analysis of the main
financial statements, as well as cash flow projections.

For now:
* The main strength is the Statement of Net Assets
Total Assets of 445M
Total Liabilities of 174M
Net Assets of 271M
The key is unrestricted net assets, which were 52 million.
This is an important measure used by credit rating
agencies, and is compared to total revenues
and total assets to develop definitive ratios

* Total revenues increased from approximately 680M in 2007
to 737M in 2008.

* The state appropriation is only 25% of total revenues

Of course, expense and revenue analysis will shed further light
on the situation.

Hope this helps

Howard

Bill Mohler wrote:

Howard,

FYI, more years here:
http://resadm.uchc.edu/financial_statements/index.html

Not exactly squirreled away out of sight. Now that you've got 7
years of hard data, plus the PWC report, maybe you can tell us where the
surplus money you'll get for us is. You said it would be easy once you had the reports. Might convince a few more voters.

Bill