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Budget symposium 2024: Miami looks to diversify as tuition revenue falls

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Budget symposium 2024: Miami looks to diversify as tuition revenue falls


After a $36 million budget deficit from last fiscal year, Miami University’s annual budget symposium brought news of a lower, but still existent, deficit.

“While Miami University’s overall financial performance last year was good, education and general spending exceeded its revenue by $10.3 million, and required a reduction in the reserves overseen by the Provost,” one of the presentation’s slides read.

The symposium, which took place on April 22, was led by university Provost Liz Mullenix and David Creamer, senior vice president for finance and business services and university treasurer. During the symposium, Mullenix and Creamer attributed the problem to a decline in tuition revenue.

In one graphic, Miami was compared to 100 other top doctoral-awarding institutions. Creamer said that among all the other institutions, Miami relied most heavily on tuition revenue for its funding.

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“We’ve been up and down with state support,” Creamer said. “It’s why we’ve been so dependent upon tuition.”

In another chart, Creamer showed that as tuition increased yearly, the university should have earned an estimated $379 million in tuition revenue. However, when accounting for students’ financial aid and scholarships, the total comes to around $216 million.

“Tuition is rising, but we’re not capturing any of that,” Creamer said.

He added that financial aid and scholarships are necessary to continue attracting students considering they get into their primary picks for universities more often.

The university is trying to diversify its funds but is struggling to change amid the declining tuition. Creamer estimated that $14 million would be taken from the reserves to help the university. Mullenix reassured the crowd.

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“We’re in a good position because we’ve planned for a rainy day,” she said.

Part of the reason Miami had a lower budget deficit for fiscal year 2024 was that vacant positions at the university lowered spending on salary and expenses. Creamer said this would not be a sustainable solution.

Part of the diversification of funds includes investing in new projects in hopes of seeing returns. In 2017-2018, income from investments only made up 1% of the budget, but they’re starting to pay off, making up 6% of the 2023-2024 budget. Creamer announced at the symposium that Miami had just committed to a new project, renovating Bachelor Hall, which would cost another $27 million.

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One symposium attendee questioned why the university was making high-risk investments if the university was trying to avoid using reserves.

“If you look at what historically plays out, with what we have accumulated already, it’s a far better strategy for the university,” Creamer said.

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As Miami saw its budget deficit at $36 million last year, Mullenix identified 18 majors as low-enrolled and required them to adjust. One faculty question at the symposium expressed concern about how these changes would impact the budget.

“The subtext here is that we are creating an experience to attract a certain type of student, or students and their parents, but I wonder what kind of faculty we’re going to be attracting with this model,” the professor said. “It seems to me that the university’s investing a lot in growing areas of the university for the faculty that are more expensive.”

“Where there is a higher salary, that’s what a business surcharge is for. So yes, faculty in business do have higher salaries typically, but we have a fee,” Mullenix responded. “So there is a front to help sort of offset the costs of those salaries.”

Creamer added that an increased number of students are coming to Miami with credit hours already completed. Most of those hours typically work toward fulfilling classes from some of those 18 low-enrolled programs.

macylj@miamioh.edu

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Cam Ward and company: Previewing the Miami Hurricanes’ 2024 quarterbacks

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Cam Ward and company: Previewing the Miami Hurricanes’ 2024 quarterbacks


The 2024 season is on the horizon, and Hurricanes fans hope to see a major step forward in Year 3 of the Mario Cristobal era.

As Miami keeps adding talent through high school and transfer portal recruiting, UM appears poised to be a major contender in the ACC this season.

This summer, we will take a look at a different position group each week to see who departed, who arrived and who should have big impacts this year.

We will start with perhaps the biggest reason for optimism in Coral Gables: Miami’s quarterback room.

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Who left

The Hurricanes had two key members of the quarterback room leave in the offseason, but neither departure was particularly surprising.

Tyler Van Dyke, who had been the Hurricanes’ primary starting quarterback since early in the 2021 season, left UM for Wisconsin via the transfer portal.

Van Dyke had moments of brilliance in his Miami career, including early last year. He finished the season with 2,703 passing yards, 19 touchdowns and 12 interceptions in 2024.

The second departure came later, as rising third-year quarterback Jacurri Brown entered the transfer portal after spring practice ended. Brown played in one game last year, starting the Pinstripe Bowl against Rutgers. He wound up transferring to UCF.

The two departures would have left Miami shorthanded at quarterback, but they added several new signal-callers to make up for the losses.

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Who returns

The Hurricanes have just one scholarship quarterback returning from last year’s team: sophomore quarterback Emory Williams.

Williams arrived as an unheralded three-star prospect a year ago but grew into Van Dyke’s primary backup. After earning late reps in three early-season wins, Williams got the start against Clemson when Van Dyke was dealing with an injury.

Williams led Miami to a win over the Tigers — their first since 2010 — with 24 completions on 33 attempts for 151 yards, one touchdown and one interception. But Williams went back to the bench after Van Dyke returned.

The Hurricanes put Williams back in the starting role as Van Dyke struggled in the second half of the season, and the freshman started on the road against Florida State. He completed just 8 of 23 passes for 175 yards and two touchdowns before he suffered an arm injury that knocked him out for the remainder of the season.

Williams completed 62 percent of his passes for 470 yards and three touchdowns with one interception last year. Pro Football Focus gave him a 66.8 offensive grade in his limited time.

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Williams returned to the practice field for spring camp, and he battled it out with transfer Reese Poffenbarger for the backup spot.

“Both Emory and Reese have really done a good job of staying on those heels of (transfer Cam Ward),” Cristobal said in the spring.

Who arrived

The biggest news of Miami’s offseason appeared to come on New Year’s Day. Former Washington State quarterback Cam Ward announced that he would enter the NFL draft instead of using his last year of college eligibility.

But that did not last long. Less than two weeks later, Ward changed his mind and committed to Miami, dramatically changing the outlook for the Hurricanes this season.

“That was probably one of the hardest decisions I’ve had to make,” Ward said in the spring. “From thinking I was ready for the NFL draft to knowing that I’m still not done yet in college. There’s still food left on the table for myself, for this team.”

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Ward spent two seasons at Washington State after transferring there from FCS Incarnate Word. While playing for the Cougars, Ward became one of the PAC-12’s top quarterbacks. He racked up 3,736 passing yards with 25 touchdowns and seven picks in 2023. He also scored eight rushing touchdowns. Pro Football Focus gave him an 81.1 offensive grade with a 78.6 passing grade.

“Guys like that … that can make change, that can make a big difference, not just as a player but as a human being, they come around not too often,” Cristobal said.

Since arriving on Miami’s campus this winter, Ward has received rave reviews from his coaches and teammates.

“He can throw the ball, man,” linebacker Wesley Bissainthe said. “He’s putting the ball in places, very tight places. That shows me all I needed to see. He can throw the ball. Deep … whatever you need.”

Ward was not the only quarterback transfer. In the two weeks between Ward’s NFL draft announcement and his UM commitment, Miami received a transfer pledge from Poffenbarger, who arrived from Albany.

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Poffenbarger did not have the name recognition that Ward did, but he has had a successful career so far. In 2023, he led FCS in passing touchdowns (36) and passing yards (3,603).

Like Ward, Poffenbarger has gotten praise from teammates and coaches.

“Competitor, man,” offensive coordinator Shannon Dawson said in the spring. “He’s got a live arm. He’s played a lot of football, too. Football IQ is very high.”

The final newcomer to the quarterback room is freshman Judd Anderson. A three-star prospect from Georgia, Anderson was one of UM’s longest-tenured 2024 commits.

Playing behind Ward, Poffenbarger, Williams and Brown during the spring, Anderson did not get many reps during spring practice. However, his 6-foot-6 frame lends well to developing at the position.

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“Judd Anderson impressed us from Day 1 with a couple of different things,” Cristobal said at his early signing day press conference. “No. 1 is leadership skills. We saw him play basketball, as well. His ability to move, make people miss, balance, body control, to be able to twist, bend and then get out of just really difficult body position was impressive. And then he was relatively new at quarterback in a particular high school before he made the move to another one and before long, you saw statistically what he did. It’s hard to do that: that many yards, that type of completion percentage, that many touchdowns. Natural leadership skills and just flat-out tough, unfazed, and there’s something he said about that. When you’re the one touching the football on every single play, it’s got to show, and your teammates got to feel that, and it just oozes out of him. Very hungry, tremendous appetite for betterment.”



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South Florida Weather for Friday 5/17/2024 7AM

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South Florida Weather for Friday 5/17/2024 7AM


South Florida Weather for Friday 5/17/2024 7AM – CBS Miami

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NEXT Weather meteorologist Lissette Gonzalez says a Heat Advisory has been issued for Miami-Dade from 10 a.m. to 8 p.m. A few storms may develop in the afternoon.

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Miami weather for Thursday 5/16/24 11PM

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Miami weather for Thursday 5/16/24 11PM


Miami weather for Thursday 5/16/24 11PM – CBS Miami

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CBS News Miami meteorologist Cindy Preszler’s weather outlook for South Florida.

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