Florida Atlantic University

 
 
 

Glossary of Terms

 
  Capital Outlay Budget - The capital outlay budget is an annual allocation of funding for approved fixed capital priorities for managing the construction, repair and maintenance of new and existing facilities.  

CITF Funding (Capital Improvement Trust Fund) – Used only for the construction, renovation and improvement of student-related facilities. CITF is funded by student fees that are collected as part of the tuition, and bonded proceeds are distribution approximately every three (3) years. Projects are approved by a committee comprised of students, faculty and staff and are submitted to the FAU Board of Trustees for approval. All CITF projects are then submitted to the Florida Legislature for appropriation.

Collective Bargaining – The process through which recognized unions and management negotiate to reach agreement on compensation packages and working conditions. At FAU, two (2) collective bargaining units are in place: the United Faculty of Florida (UFF) and the Police Benevolent Association (PBA). The University administration annually “bargains” with these unions to reach consensus on various issues brought forth by the union and management. These agreements only affect in-unit faculty members and sworn law enforcement officers.

E&G Funding (Education & General Funding) – General revenue; consists primarily of sales tax (73 percent) and corporate income tax (8 percent), as well as license fees and other taxes and operating receipts used to support the overall day-to-day operations of the State of Florida and Florida Atlantic University.  

Education Enhancement Trust Fund (Lottery Funding) – Consists of collections from the sale of state lottery tickets and various games authorized by the Florida Lottery. Approximately 38 percent of total lottery collections are dedicated to the trust fund for use by K-12, community colleges and state universities. Funding to higher education from the Florida Lottery is used for, but not limited to, the enhancement of the public education in Florida, Bright Futures scholarships, mentoring and facilities.

General Revenue Estimating Conference – This is a forecasting model specified in Florida law through which the amount of money that is projected to be available to the state in the future is estimated. Members are appointed from the staffs of the Governor's Budget Office, the Florida Senate, the Florida House of Representatives and the Division of Economic and Demographic Research. Revenue estimating conferences are traditionally held twice a year, in the fall and spring, but additional sessions can be called by any of the participants.

Operating Budget – The operating budget is the annual projection of revenues and expenses approved by the FAU Board of Trustees for managing the on-going, day-to-day operations of the University. The FAU operating budget consists of seven budgetary components with Salary & Benefits, Other Personnel Services (OPS), Expense, and Operating Capital Outlay (OCO) expenditure classifications.

PECO Funding (Public Education Capital Outlay trust fund) – PECO is funded by the gross receipts tax, which is a 2.5 percent levy on the gross receipts of electric, gas and telecommunications. This tax is devoted entirely to the Public Education Capital Outlay and Debt Service trust fund (PECO) and is the major state source of revenue dedicated to new construction, repair, renovation and expansion of public schools (K-12), community colleges and state universities.

Special Session – A session of the Florida Legislature called by the Governor on an emergency basis to address a specific issue or issues, in this case the current economic and budget crisis the State of Florida faces.

Tuition Tuition at Florida Atlantic University is defined in University Regulation 8.001, Tuition, Fee Schedule, and Percentage of Costs. Tuition and fees are assessed to students for enrollment in credit courses at FAU and are also dependent on whether a student is classified as a resident or non-resident of the State of Florida. Matriculation fees paid by students account for approximately 30 percent of FAU's total operating budget.

 
     



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 Last Modified 11/8/16