DEPARTMENT OF RESIDENCE AND ISU DINING ANNUAL REPORT FY2008

Iowa State University DEPARTMENT OF RESIDENCE AND ISU DINING ANNUAL REPORT FY2008 Prepared September 2008 Submitted by: Dr Peter D Englin Director of Residence and Nancy Levandowski Director, ISU Dining Iowa State University DEPARTMENT OF RESIDENCE AND ISU DINING ANNUAL REPORT FY2008 Table of Contents Page Executive Summary Pages 2-4 Enrollment and Occupancy Page Explanation For Variance In Design, Offered And Program Capacities Page Capacity and Occupancy Page Room and Board Rates Page System Distribution of Rooms and Rates Page Room Style Demand Page 10 Meal Plan Buy-In Page 11 Peer Group Comparison Page 12 Financial Data Page 13 Bond Principal and Interest Due Page 14 Facilities Summary Page 14 Appendix A – Explanation of Off-Line Spaces Page 15 Iowa State University Department of Residence and ISU Dining Annual Report FY2008 Page EXECUTIVE SUMMARY Department of Residence (DOR) Facilities No physical changes were made to DOR facilities this past year that affected capacity for fall 2008 However, based upon projections of a large incoming class some operational changes were put in place In the residence halls, the following changes were made: • 22 additional spaces (1/2 of Haber House) in Helser were brought back on line • 29 spaces in Wallace Hall (all of 10th floor) were brought back on line • 97 spaces became available due to a reduction in the number of super-singles awarded • One room in Linden Hall was increased from a double to a triple at student request These changes, plus a bed decrease in the number of spaces off-line, led to an increased capacity of 152 bed spaces in the residence halls Frederiksen Court capacity remained relatively stable with only a bed space increase due to a decrease in the number of off-line spaces In Schilletter and University Villages (SUV), the continued conversion of family units to single student and a 28 bed space decrease in the number of apartments off-line resulted in an additional 106 bed spaces being available in this area Overall, the number of student bed spaces available increased by 261 Wilson Hall remains rented to Facilities, Planning & Management to house the Department of Statistics while Snedecor Hall is under renovation Statistics is scheduled to leave Wilson Hall early May 2009 ISU Dining Facilities System changes that affected capacity from fall 2007 to fall 2008 included: • MU Food Court Renovations were completed in July 2007 adding Cy’s and Fries and redesigning the International options in World Bistro and offering meal bundle options to Residential Meal Plan customers • Wallace/Wilson C-store was reopened August 2007 to serve the increasing population in this area • The UDCC Express cart operated the first three weeks of fall 2007 to relieve pressure on the UDM operations • Linden Dining Center was reopened in May 2008 for the summer and in preparation for the closure of MWL • The Memorial Union Cafe and Onions C-store closed in May 2008 and were replaced by the newly constructed MU Market and Café Enrollment and Occupancy From fall 2007 to fall 2008, total University enrollment increased by 696 students The breakdown is as follows: • 544 student increase in lower division enrollment • 59 student increase in upper division enrollment • 93 student increase in graduate and professional student enrollment In preparation for the fall 2008 class, which was projected to be larger than previous years, the DOR made the previously discussed operational decisions which impacted capacity With the exception of family housing, the capacity level was increased in all areas, resulting in a net increase of 261 bed spaces Due to the increase in enrollment, as well as the retention of students to campus housing, the numbers of contracts increased as well Once again, with the exception of family housing, all areas of campus saw an increase in the number of contracted residents, resulting in a net increase of 351 contracts Overall, the combined result of these increases led to an increase in occupancy percentage of 1.1% The largest increases were seen in the upper-division housing area where hall occupancy rose 4.9% and apartment occupancy rose 3.5% Lowerdivision residence halls in Union Drive also saw an increase of 0.3% Lower-divisions residence halls in Richardson Court saw a decrease in occupancy percentage on 1.0%, as capacity increased to a greater rate than contracting Guest housing requests continue to rise, especially during the spring and summer, when demand exceeds supply Beginning fall 2007 and continuing to fall 2009, the number of guests units available will fluctuate as guest housing is relocated from University Village to Schilletter Village and the total number of units is eventually increased to 70 Current guest occupancy sits at 60.4% Room Styles & Rates Choice continues to be very important to today’s students and their families The department offers a number of different room styles and options Iowa State University Department of Residence and ISU Dining Annual Report FY2008 Page Room rates are determined based upon the type of room offered, location and physical condition of facility The table on page eight outlines the number of available rooms by style and rate Room Demand The table on page ten shows the breakdown of fall 2008 student requests for specific room types and locations The demand figures are based only on the student’s first preference for product type and area In general, the top three residence hall preferences are: • Air-Conditioned, Friley Hall – Co-ed House (953) • Air-Conditioned, Friley Hall – Single Gender House (952) • Standard Suite, Eaton and Martin Halls – Co-ed Floor (756) The bottom three residence hall preferences are: • Non-Air-Conditioned, Richardson Court – Co-ed Hall – Single Gender Floor (23) • Non-Air-Conditioned, Friley / Helser Halls – Single Gender House (98) • Air-Conditioned, Richardson Court – Co-ed Hall – Single Gender Floor (118) Union Drive remains the most popular campus area, followed by Student Apartments, Richardson Court and Buchanan and Wallace Halls, in that order Demand for Eaton, Friley, Maple and Martin halls continues to exceed availability Requests for single-gender housing, both halls and houses, continues to decrease Requests for single rooms and air-conditioned space also remain high In Frederiksen Court, requests for bedroom apartments continue to decline ISU Dining ISU Dining continues to fulfill the requirements of the Iowa State University RFP and MOU, accomplishing the tasks laid out in these two documents The ISU Dining Advisory Committee was developed in compliance with the RFP and MOU The committee completed its first annual review of ISU Dining in August 2007 The opinion of the committee is that ISU Dining continues to be innovative and progressive The seven ISU Dining chefs continue to impact the culinary experience at ISU though development and improvement of menu quality and variety continues to be an area of priority This year saw an assortment of new options being made available to students, such as increased international cuisine and salad bar expansion The development of ISU Dining’s Farm to ISU program brought local, sustainable and organic foods to the ISU community In 2007-2008 ISU Dining supported local farmers and the state of Iowa with local beef, pork, dairy and produce purchases that accounted for over 10% of the total ISU Dining food purchases Ongoing training is occurring in the areas of financial reporting, food safety, customer service and business plan development ISU Dining Renovations and Construction In compliance with the RFP and MOU, a number of renovation and construction projects are underway Progress of these projects is as follows: • MU Catering Kitchen was closed for remodel from April to December 2007 with minimal service being offered from a temporary site • MU Food Court Renovations were completed in July 2007 adding Cy’s and Fries and redesigning the International options in World Bistro and offering meal bundle options to Residential Meal Plan customers • The HUB closed in July 2007 and reopened July 2008 as the HUB Grill and Caribou Coffee • Construction on the East Campus project began in May 2008 Phase 1, the remodel of MWL Dining, is scheduled to be complete in August 2009 when the facility reopens as Seasons Marketplace Phase 2, the Oak-Elm remodel, is presently in schematics • The MWL C-store closed for remodel in May 2008 with a temporary service available on the third floor of the MWL Commons The facility will reopen as the Eastside Market in January 2009 • The Memorial Union Cafe and Onions C-store closed in May 2008 and were replaced by the newly constructed MU Market and Café • ISU Knapp-Storms Catering took over the Reiman Gardens and Club Section Catering from Centerplate in August 2008 Meal Plan Buy-In Fall 2008 has seen a 6.6% increase in meal plans purchased While some of this is attributed to the increases in enrollment and occupancy, much of it comes from a 21.2% increase in voluntary meal plan purchases Per student request, a Semester Plan with no Dining Dollar$, the Semester 200, was added to the available options Despite student request for this type of plan, participation is low with only 27 students selecting this option Iowa State University Department of Residence and ISU Dining Annual Report FY2008 Page Peer Group Comparisons In this era of increasing diversity in housing and dining availability on campuses nationwide, it is difficult to draw direct conclusions based upon peer group data Using the aggregate of data, however, Iowa State University on-campus housing remains competitively priced when compared to the land-grant peer group See tables on page twelve Financial Data Net revenue from operations during fiscal 2007-2008 was $20,084,644, an increase of $750,532 over fiscal year 2006-2007 Capital Expenditures/Replacement Values Iowa State University has made a strategic decision to target the majority of its capital dollars into specific facilities based upon current knowledge of future facility utilization In-year priorities affect implementation of this strategy Iowa State University Department of Residence and ISU Dining Annual Report FY2008 Page ENROLLMENT and OCCUPANCY • • All data is as of Count Day (10th class day) for the fall semester of the fiscal year Enrollment Data can be found on the ISU Web Site: http://www.iastate.edu/~registrar/stats/fte-f08.xls Enrollment comparison Level Freshmen Sophomores Total lower division Total upper division * Total undergraduate Total graduate Total enrollment 2007 2008 5,318 4,277 9,595 11,409 21,004 5,156 26,160 5,623 4,516 10,139 11,468 21,607 5,249 26,856 Change (+ or -) # % 305 5.74% 239 5.59% 544 5.67% 59 0.52% 603 2.87% 93 1.80% 696 2.66% * Note – Undergraduate specials (non-degree) included in upper division count Occupancy and Enrollment Comparison – Residence Halls Level 2007 2008 Freshmen Sophomores Total lower division Total upper division Total undergraduate Total graduate Total occupancy 4,023 1,129 5,152 745 5,897 23 5,920 4,213 1,079 5,292 744 6,036 39 6,075 Change (+ or -) # % 190 4.72% -50 -4.43% 140 2.72% -1 -0.13% 139 2.36% 16 69.57% 155 2.62% Occupancy and Enrollment Comparison – Student Apartments Level 2007 2008 Freshmen Sophomores Total lower division Total upper division Total undergraduate Total graduate Total occupancy 215 698 913 1,325 2,238 385 2,623 320 770 1,090 1,401 2491 335 2,826 Change (+ or -) # % 105 48.84% 72 10.32% 177 19.39% 76 5.74% 253 11.30% -50 -12.99% 203 7.74% Occupancy and Enrollment Comparison – Combined - Residence Halls and Student Apartments Change (+ or -) Level 2007 2008 # % Freshmen 4,238 4,533 295 6.96% Sophomores 1,827 1,849 22 1.20% Total lower division 6,065 6,382 317 5.23% Total upper division 2,070 2,145 75 3.62% Total undergraduate 8,135 8,527 392 4.82% Total graduate 408 374 -34 -8.33% Total occupancy 8,543 8,901 358 4.19% Percentage of Enrollment Housed – Residence Halls and Student Apartments Level 2007 2008 Freshmen 79.69% 80.62% Sophomores 42.72% 40.94% Total lower division 63.21% 62.95% Total upper division 18.14% 18.70% Total undergraduate 38.73% 39.46% Total graduate 7.91% 7.13% Total 32.66% 33.14% Iowa State University Department of Residence and ISU Dining Annual Report FY2008 Change (+ or -) 0.92% -1.77% -0.26% 0.56% 0.73% -0.79% 0.49% Page EXPLANATION for VARIANCE in DESIGN, OFFERED and PROGRAM CAPACITY • All data is as of Count Day (10th class day) for the fall semester of the fiscal year Fall 2008 Design Offered Variance from Design Barton 99 97 95 super single (1 CA), triple as double Birch-Welch-Roberts 487 487 476 11 11 super singles (11 CA) Freeman 115 115 115 Larch 544 544 535 9 super singles (8 CA) Linden 321 322 -1 315 7 super singles (7 CA) Lyon 116 116 116 Maple 496 496 487 9 super singles (8 CA) Oak-Elm 436 435 430 5 super singles (4 CA) Willow 544 540 531 9 super singles (8 CA) 3,158 3,152 3,100 52 Eaton 328 328 324 4 super singles (3 CA) Friley 1,220 1216 1,191 25 25 super singles (19 CA) Helser 713 713 699 14 14 super singles (13 CA) Martin 331 329 328 1 super single 2,592 2,586 2,542 44 Buchanan 409 407 395 12 Wallace 300 299 299 580 580 0 Residence Halls Total Richardson Court Total Union Drive Wilson Program Variance Explanation of Variance 12 super singles Total Towers 1,289 706 583 694 12 Total Residence Halls 7,039 6,444 595 6,336 108 Design Offered Variance from Design Program Variance 1,992 1,968 24 1,942 26 0 54 -54 948 940 695 245 2,940 2,908 32 2,691 217 194 167 27 140 27 27 SV units (54 spaces) rented as non-family 0 63 -63 63 UV units (126 spaces) rented as family 194 167 27 203 -36 3,134 3,075 59 2,894 181 Design Offered Variance from Design Program Variance 10,173 9,519 654 9,230 289 84 57 27 57 10,257 9,576 681 9,287 289 Student Apartments Frederiksen Court Schilletter Village - Single University Village - Single Total Single Student Schilletter Village - Family 34 University Village - Family Total Family Total Student Apartments Total Student Bed Spaces Total Guest Apartments Total DOR System 34 107 super singles (82 CA), triple as double Explanation of Variance 26 super singles 42 SV spaces (21 units) rented as non-family, 11 super singles 126 UV spaces (63 units) rented as family, 119 super singles Explanation Variance See Appendix A for an explanation of Variance from Design All Wallace Rooms offered as Super Singles Guest Housing is being relocated from UV to SV During this process, estimated to take - years, the number of available spaces in Single Student, Family and Guest apartments will fluctuate All SUV Family and Guest are designed with bed spaces, but are offered as single units (1 bed space) Iowa State University Department of Residence and ISU Dining Annual Report FY2008 Page CAPACITY and OCCUPANCY • • All data is as of Count Day (10th class day) for the fall semester of the fiscal year Capacity indicated is PROGRAM capacity Program capacity will vary from year to year based upon on-line status and bed space conversion due to doubles-as-singles and/or triples-as-doubles Changes to capacity as compared to the previous year are footnoted Fall 2007 Residence Halls Fall 2008 Variance Cap Occ % Cap Occ % Cap # Cap % Occ # Occ % % Barton 93 92 98.9% 95 92 96.8% 2.2% 0.0% -2.1% Birch-Welch-Roberts 466 431 92.5% 476 436 91.6% 10 2.1% 1.2% -0.9% Freeman 112 106 94.6% 115 110 95.7% 2.7% 3.8% 1.0% Larch 520 515 99.0% 535 518 96.8% 15 2.9% 0.6% -2.2% 311 304 97.7% 315 304 96.5% 1.3% 0.0% -1.2% Lyon 115 104 90.4% 116 115 99.1% 0.9% 11 10.6% 8.7% Maple 484 480 99.2% 487 473 97.1% 0.6% -7 -1.5% -2.0% Oak-Elm 430 422 98.1% 430 417 97.0% 0.0% -5 -1.2% -1.2% Willow 527 514 97.5% 531 513 96.6% 0.8% -1 -0.2% -0.9% 3,058 2,968 97.1% 3,100 2,978 96.1% 42 1.4% 10 0.3% -1.0% Eaton 320 314 98.1% 324 321 99.1% 1.3% 2.2% 0.9% Friley Linden Total Richardson Court 1,162 1,126 96.9% 1,191 1146 96.2% 29 2.5% 20 1.8% -0.7% Helser 669 609 91.0% 699 652 93.3% 30 4.5% 43 7.1% 2.2% Martin 328 322 98.2% 328 321 97.9% 0.0% -1 -0.3% -0.3% Total Union Drive 2,479 2,371 95.6% 2,542 2,440 96.0% 63 2.5% 69 2.9% 0.3% Total Lower Division 5,537 5,339 96.4% 5,642 5,418 96.0% 105 1.9% 79 1.5% -0.4% Buchanan 376 357 94.9% 395 381 96.5% 19 5.1% 24 6.7% 1.5% Wallace 271 224 82.7% 299 276 92.3% 28 10.3% 52 23.2% 9.7% - - - - - - - - - - - 647 581 89.8% 694 657 94.7% 47 7.3% 76 13.1% 4.9% 6,184 5,920 95.7% 6,336 6,075 95.9% 152 2.5% 155 2.6% 0.1% Wilson Total Upper Division Total Residence Halls 45 Fall 2007 Apartments Frederiksen Court Fall 2008 Variance Cap Occ % Cap Occ % Cap # Cap % Occ # Occ % % 1,939 1,846 95.2% 1,942 1899 97.8% 0.2% 53 2.9% 2.6% Schilletter Village 33 31 93.9% 54 42 77.8% 21 63.6% 11 35.5% -16.2% University Village 576 524 91.0% 695 681 98.0% 119 20.7% 157 30.0% 7.0% Total Single Student 2,548 2,401 94.2% 2,691 2,622 97.4% 143 5.6% 221 9.2% 3.2% Schilletter Village 159 144 90.6% 140 141 100.7% -19 -11.9% -3 -2.1% 10.1% University Village 78 78 100.0% 63 63 100.0% -15 -19.2% -15 -19.2% 0.0% Total Family 237 222 93.7% 203 204 100.5% -34 -14.3% -18 -8.1% 6.8% Total Apartments 2,785 2,623 94.2% 2,894 2,826 97.7% 109 3.9% 203 7.7% 3.5% Total Student Bed Spaces 8,969 8,543 95.3% 9,230 8,901 96.4% 261 2.9% 358 4.2% 1.2% 57 42 73.7% 57 35 61.4% 0.0% -7 -16.7% -12.3% 9,026 8,585 95.1% 9,287 8,936 96.2% 261 2.9% 351 4.1% 1.1% Total Guest Apartments Total DOR System One room in Linden Hall was increased from a double to a triple at student request 22 additional spaces (1/2 of Haber House) in Helser were brought back on line 29 spaces in Wallace Hall (all of 10th floor) were brought back on line 97 spaces available due to a reduction in the number of super-singles awarded bed decrease in the number of residence hall spaces off-line bed decrease in the number of Frederiksen Court spaces off-line 106 bed spaces available due to conversion of family units to single student and a 28 bed space decrease in the number of apartments off-line SV Family percentage exceeds 100% because one family chose to have both the husband and wife submit separate contracts for the same unit Iowa State University Department of Residence and ISU Dining Annual Report FY2008 Page ROOM and BOARD RATES • • Rates indicated are for the entire academic year – both fall and spring semester All data is as of Count Day (10th class day) for the fall semester of the fiscal year Double Room and Full Board Rate Comparison 2007-2008 2008-2009 Double - Union Drive - A/C  Double - Union Drive - A/C $3,561 $3,703 Full Board – Cyclone 17 Plus Meal Plan w/ $150 Dining Dollar$ $3,154 $3,297 Total Cost for Double Room and Full Board $6,715 $7,000 10 Year Comparison Combined Rate for Double Room and Full Board Year Rate 1999-2000 $4,171 2000-2001 $4,432 2001-2002 $4,666 2002-2003 $5,020 2003-2004 $5,740 2004-2005 $5,958 2005-2006 $6,133 2006-2007 $6,378 2007-2008 $6,715 2008-2009 $7,000 Iowa State University Department of Residence and ISU Dining Annual Report FY2008 Page SYSTEM DISTRIBUTION of ROOMS and RATES • The number of bed spaces listed is indicative of what was OFFERED to students as available and on-line Actual beds rented may vary due to off-line status or offering of space as double-as-single or triple-as-double (see page six) Rooms and Rates, System Distribution Residence Halls Area Traditional Style Rooms RC Single - Linden - Plus Break RC Single without A/C RC Double - Linden - Plus Break RC Double - Maple RC Double with A/C RC Double without A/C RC Triple - Linden - Plus Break RC Triple without A/C Total Richardson Court TW Super Single - Wallace Total Towers UD Double with A/C UD Double without A/C UD Single with A/C UD Single without A/C UD Triple with A/C UD Triple without A/C Total Union Drive Total Traditional Style Area Room Type RC Triple – Maple Total Richardson Court TW Single – Buchanan TW Single – Buchanan 21 or older TW Double – Buchanan TW Double – Buchanan 21 or older Total Towers UD Single – Eaton & Martin UD Double – Eaton & Martin UD Corner Suite - Martin UD Lofted Suite - Martin Total Union Drive Total Suite Style Area Apartment Type FC Bedroom Shared FC Bedroom Private FC Bedroom Private Total Frederiksen Court SV Bedroom Deluxe-1 Level SV Bedroom Large-1 Level SV Bedroom Standard-1 Level UV Bedroom Standard-1 Level UV Bedroom Deluxe-Townhouse UV Bedroom Large-Townhouse UV Bedroom Standard-1 Level UV Bedroom Standard-Townhouse Total Schilletter & University Village Total Student Apartments Total Residence Hall Rooms Total Student Apartments Total Student Bed Spaces Total Guest Apartments Total DOR System Beds 132 292 448 1,084 1,080 24 39 3,104 271 271 900 828 64 34 66 12 1,904 5,279 Beds 48 48 130 24 203 48 405 17 534 27 74 652 1,105 Beds 654 1,311 1,965 124 47 8 388 48 424 1,055 3,020 Beds 6,384 3,020 9,404 57 9,461 2007-2008 % System 0.05% 1.40% 3.09% 4.74% 11.46% 11.42% 0.25% 0.41% 32.81% 2.86% 2.86% 9.51% 8.75% 0.68% 0.36% 0.70% 0.13% 20.12% 55.80% % System 0.51% 0.51% 1.37% 0.25% 2.15% 0.51% 4.28% 0.18% 5.64% 0.29% 0.78% 6.89% 11.68% % System 6.91% 13.86% 20.77% 0.08% 1.31% 0.50% 0.08% 0.08% 4.10% 0.51% 4.48% 11.15% 31.92% % System 67.48% 31.92% 99.40% 0.60% 100.00% Rate $4,790 $4,530 $3,751 $4,029 $3,535 $3,491 $3,610 $3,360 $4,744 $3,604 $3,561 $4,707 $4,618 $4,707 $3,427 Rate $4,216 $5,241 $5,241 $4,560 $4,560 $6,446 $5,005 $5,828 $6,651 Rate $3,720 $4,667 $6,624 $6,480 $6,348 $5,592 $6,744 $6,384 $6,000 $6,252 Beds 131 290 448 1,084 1,080 27 39 3,104 299 299 902 852 63 34 66 12 1,929 5,332 Beds 48 48 133 24 202 48 407 17 538 28 74 657 1,112 Beds 608 50 1,310 1,968 131 31 8 386 48 490 1,107 3,075 Beds 6,444 3,075 9,515 57 9,576 2008-2009 % System 0.05% 1.37% 3.03% 4.68% 11.32% 11.28% 0.28% 0.41% 32.41% 3.12% 3.12% 9.42% 8.90% 0.66% 0.36% 0.69% 0.13% 20.14% 55.68% % System 0.50% 0.50% 1.39% 0.25% 2.11% 0.50% 4.25% 0.18% 5.62% 0.29% 0.77% 6.86% 11.61% % System 6.35% 0.52% 13.68% 20.55% 0.05% 1.37% 0.32% 0.08% 0.08% 4.03% 0.50% 5.12% 11.56% 32.11% % System 67.29% 32.11% 99.40% 0.60% 100.00% Rate $4,922 $4,655 $3,854 $4,140 $3,632 $3,587 $3,709 $3,452 $4,874 $3,703 $3,659 $4,836 $4,745 $3,550 $3,521 Rate $4,332 $5,385 $5,385 $4,685 $4,685 $6,623 $5,143 $5,988 $6,834 Rate $3,785 $5,804 $4,749 $563 $551 $540 $475 $573 $543 $510 $531 Beginning fall 2008, Bedroom Private apartments (previously reserved solely for medical needs) began being offered as a standard FC option Frederiksen Court rates are per person SUV rates are per apartment and are billed monthly Rates are reflective of the monthly rate x months Iowa State University Department of Residence and ISU Dining Annual Report FY2008 Page 10 ROOM STYLE DEMAND • • Figures include only those students who listed an option as their FIRST choice Figures are based on ALL new student applications received and ALL returning student choices - not Count Day active contracts The number of bed spaces listed is indicative of what was OFFERED to students as available and on-line Rooms Style Demand Residence Halls Area Room Type RC Standard Room RC Standard Room, Co-ed floor RC Standard Room, Single Gender RC Standard Room, A/C RC Standard Room, A/C, Co-ed floor RC Standard Room - Maple RC Standard Room - Plus Break RC Triple – Maple Total Richardson Court UD Standard Room UD Double – Eaton & Martin UD Standard Room, A/C UD Corner Suite – Martin UD Lofted Suite – Martin UD Standard Room, A/C Co-ed floor UD Double, Co-ed Floor – Eaton & Martin Total Union Drive TW Super Single – Wallace TW Single – Buchanan 21 or older TW Double – Buchanan 21 or older TW Single – Buchanan TW Double – Buchanan Total Towers RC Any Richardson Court UD Either Corner or Lofted Suite - Martin UD Any Union Drive Single Room – RC and UD Total Other Residence Hall Total Residence Hall Preferences Capacity 46 243 830 272 812 448 316 48 3015 840 452 785 27 74 181 82 2441 271 24 48 130 203 676 -101 235 235 6367 Fall 2007 Demand 27 218 356 85 498 401 140 152 1877 127 469 893 35 116 920 820 3380 204 65 23 161 121 574 12 577 16 434 1039 6870 +/-19 -25 -474 -187 -314 -47 -176 104 -1138 -713 17 108 42 739 738 939 -67 41 -25 31 -82 -102 476 199 675 374 Capacity 46 243 830 271 813 448 317 48 3016 864 376 788 28 74 180 162 2472 299 24 48 133 202 706 250 250 6444 Fall 2008 Demand 23 251 327 118 440 419 148 172 1898 98 435 952 60 64 953 756 3318 122 37 18 169 126 472 10 432 576 1026 6714 +/-23 -503 -153 -373 -29 -169 124 -1118 -766 59 164 32 -10 773 594 846 -177 13 -30 36 -76 -234 326 326 -180 Student Apartments Area Apartment Type FC Bedroom Shared Bedroom Private FC Bedroom Private Total Frederiksen Court SUV University Village SUV Schilletter Village Total Schilletter & University Village Total Student Apartments Capacity 654 1311 1965 876 179 1055 3020 Fall 2007 Demand 400 1395 1795 390 256 646 2441 +/-254 84 -170 -486 77 -409 -579 Capacity 608 50 1310 1968 940 167 1107 3075 Fall 2008 Demand 459 65 1258 1782 531 165 696 2478 +/-149 15 -52 -186 -409 -2 -411 -597 Capacity 1419 - Fall 2007 Demand 912 1879 +/-507 - Capacity 1312 - Fall 2008 Demand 1104 2078 +/-208 - Non-Area Specific Preferences Learning Community No Preference 2 Beginning fall 2008, Bedroom Private apartments (previously reserved for medical needs) began being offered as a standard FC option Learning Community bed spaces are also included in previously indicated room type totals Iowa State University Department of Residence and ISU Dining Annual Report FY2008 Page 11 MEAL PLAN BUY-IN • All data is as of Count Day (10th class day) for the fall semester of the fiscal year Mandatory Meal Plans Fall 2007 Buy-In Fall 2008 % Buy-In Variance % +/- % Premium Cyclone 535 9.4% 611 10.5% 76 14.2% Cyclone 17 Plus 1121 19.7% 1034 17.8% -87 -7.8% Cyclone 14 Plus 1898 33.3% 1824 31.5% -74 -3.9% Cyclone 10 Plus 1313 23.1% 1333 23.0% 20 1.5% Cyclone Plus 649 11.4% 775 13.4% 126 19.4% Semester 225 Plus 106 1.9% 114 2.0% 7.5% Semester 175 Plus 71 1.2% 91 1.6% 20 28.2% Semester 200 0.0% 17 0.3% 17 - 5,693 100.0% 5799 100.0% 106 1.9% Buy-In % Buy-In % +/- % Premium Cyclone 15 0.8% 13 0.6% -2 -13.3% Cyclone 17 Plus 26 1.4% 32 1.5% 23.1% Cyclone 14 Plus 115 6.3% 129 5.9% 14 12.2% Cyclone 10 Plus 85 4.7% 110 5.0% 25 29.4% Cyclone Plus 165 9.1% 209 9.5% 44 26.7% Semester 225 Plus 0.5% 0.4% -1 -11.1% Semester 175 Plus 10 0.6% 24 1.1% 14 140.0% Total Mandatory Meal Plan Voluntary Plans Semester 200 0.0% 10 0.5% 10 - 25 Meal Block 362 19.9% 392 17.8% 30 8.3% 50 Meal Block 400 22.0% 460 20.9% 60 15.0% 75 Meal Block 255 14.0% 295 13.4% 40 15.7% 100 Meal Block 375 20.6% 521 23.6% 146 38.9% 386 21.2% Buy-In % Buy-In % +/- % 550 30.3% 624 28.3% 74 13.5% Total Voluntary Meal Plans All Plans Premium Cyclone 1,817 2203 Cyclone 17 Plus 1147 63.1% 1066 48.4% -81 -7.1% Cyclone 14 Plus 2013 110.8% 1953 88.7% -60 -3.0% Cyclone 10 Plus 1398 76.9% 1443 65.5% 45 3.2% Cyclone Plus 814 44.8% 984 44.7% 170 20.9% Semester 225 Plus 115 6.3% 122 5.5% 6.1% Semester 175 Plus 81 4.5% 115 5.2% 34 42.0% Semester 200 0.0% 27 1.2% 27 - 25 Meal Block 362 19.9% 392 17.8% 30 8.3% 50 Meal Block 400 22.0% 460 20.9% 60 15.0% 75 Meal Block 255 14.0% 295 13.4% 40 15.7% 375 20.6% 521 23.6% 146 38.9% 492 6.6% 100 Meal Block Total All Meal Plans 7,510 8,002 Students living in Union Drive, Richardson Court and Buchanan Hall have a mandatory requirement to purchase a meal plan Semester 200 is a new for FY09 and offered only to returning students It is the only plan available to mandatory meal plan students that does not include dining dollars Students living in Wallace Hall, Frederiksen Court, Schilletter/University Village and off-campus students are not required to purchase a meal plan and are considered voluntary participants Iowa State University Department of Residence and ISU Dining Annual Report FY2008 Page 12 PEER GROUP COMPARISONS • • • • Rates indicated are for the entire academic year – both fall and spring semester All ISU data is as of Count Day (10th class day) for the fall semester of the fiscal year Data for other schools obtained from that university’s web site Room Types and Meal Plans offered vary greatly by institution Room and meal plans that most closely approximate the traditional double occupancy with 20 meals/week definition have been selected In cases where ranges are present, rates are based upon buildings, locations and amenities Comparable Peer University Rate Comparison – Combined Rate for Double Room and Full Board Meals $ or Points School 2007-2008 2008-2009 Plan Name / Type per Week per Semester 210 Plan 14 $125 Texas A & M University $6,006 $5,882 14 Per Week 14 Optional North Carolina State University $6,060 $6.330 $6,732 15 meal Plan 15 175 Purdue University $6,714 - $9,098 $12,545 No requirement A la Carte system $1,000 recommended University of Wisconsin, Madison $6,774 $6,910 Iowa State University Cyclone 17 Plus 17 150 Dining$ $6,715 $7,000 (Double – Union Drive – AC) 19 Meals 19 100 Flex Dine University of Minnesota, Twin Cities $7,138 $7,464 Plus 16 10 University of Arizona $7,850 $7,565 - $8,455 Platinum 20 $300 Spartan Cash Michigan State University $7,276 $7,626 Traditional 19 Optional Ohio State University $8,955 $8,220 14 Classic Plan 14 Optional University of Illinois, Urbana $8,416 Gold Plus Prime Line 180 18 150 Gold Plus University of California, Davis $11,533 $11,839 Texas A&M no longer offers the 1500 meal plan that was previously used for comparison The 210 plan, now the most similar to what ISU offers, cost $214 less that last year Comparable Peer University Rate Comparison – Suites School 2007-2008 2008-2009 University of California, Davis N/A N/A University of Illinois, Urbana N/A N/A University of Arizona N/A N/A Michigan State University N/A N/A North Carolina State University N/A N/A Texas A & M University $2596 - $4316 $3,400 - $4,498 Purdue University N/A $3,870 University of Minnesota, Twin Cities $4850 $4,978 Iowa State University (Standard Suite – Martin and Eaton $5005 $5143 Halls) $5,310 Ohio State University $4705 $6,255 $6,451 University of Wisconsin, Madison $5574 - $6097 $7,263 Comparable Peer University Rate Comparison – Apartments School 2007-2008 2008-2009 Purdue University $2695 - $5272 N/A University of California, Davis N/A N/A Michigan State University $2050 - $6950 $2,160 - $6,615 Iowa State University $3720 - $4667 $3,785 - $4,749 (Frederiksen Court, person, furnished) Texas A & M University $4788 - $7456 $5,400 - $7,772 University of Minnesota, Twin Cities $5508 - $7097 $5489 - $7,073 University of Arizona $5261 - $6187 $5,731 - $6,736 University of Illinois, Urbana $5310 - $6084 $5,643 - $6,273 Ohio State University $5575 $6,255 University of Wisconsin, Madison $6660 $6,750 Iowa State University Department of Residence and ISU Dining Annual Report FY2008 Page 13 North Carolina State University $9514 $9,920 Bundled with meal plan Individual suite rates not available Not university owned Iowa State University Department of Residence and ISU Dining Annual Report FY2008 Page 14 FINANCIAL DATA • • Data is as of June 30 of the fiscal year Data is unaudited Operations FY 2007 FY 2008 Revenues $63,482,698 $66,178,786 Expenditures for operations $44,148,586 $46,094,142 Net operating revenue $19,334,112 $20,084,644 % of revenues Debt service (due July 1) % of revenues Net operating ratio (%) (Net operating revenue to debt services) Net revenue after debt service % of revenues Mandatory transfer to reserves % of revenues 30.46% 30.35% $9,997,894 $10,268,360 15.75% 15.52% 193.38% 195.60% $9,336,218 $9,816,284 14.71% 14.83% $500,000 $500,000 0.79% 0.76% Net after debt service and mandatory transfers $8,836,218 $9,316,284 University overhead payment from surplus $1,264,020 $1,784,826 2.86% 3.87% $0 $0 0.00% 0.00% FY 2007 FY 2008 $0 ($72,764) % of expenditures University scholarship fund % of revenues Cash and Investment Balances Voluntary funds Revenue fund Operations and maintenance fund Improvement fund $0 $1,792,018 Surplus fund $17,803,965 $20,251,281 Subtotal—voluntary fund balances $18,830,381 $21,970,535 % of gross revenue 29.66% 33.20% Mandatory funds FY 2007 FY 2008 Sinking fund Bond reserve fund Construction fund $0 $1,026,416 $0 $84,394 $10,068,779 $11,034,678 $0 $11,026,247 Subtotal—mandatory fund balances $10,068,779 $22,145,318 Total cash and investment balances $28,899,160 $44,115,853 FY07 - DoR $826,411 and Dining $437,609; FY08 - DoR $1,046,154 and Dining $738,672 Iowa State University Department of Residence and ISU Dining Annual Report FY2008 Page 15 BOND PRINCIPAL and INTEREST DUE • Data is as of June 30 of the fiscal year with payments due July 1, 2008 Series Interest Principal Principal Due Future Years 1998 1998A 1999A 1999B 2000A 2001A 2002 2003 2003A 2006 2006A 2007 2008 Total $543,808 $554,645 $699,813 $980,983 $670,828 $863,601 $311,943 $681,794 $378,031 $375,117 $6,060,560 $710,000 $415,000 $480,000 $540,000 $375,000 $550,000 $355,000 $535,000 $290,000 $4,250,000 $11,255,000 $13,990,000 $19,225,000 $13,285,000 $19,510,000 $8,045,000 $15,915,000 $8,610,000 $13,400,000 $10,500,000 $133,735,000 Defeased by 2008 Issue Defeased by 2006 Issue Defeased by 2006A Issue East Campus Dining Improvements Replaced 1998 Issue; payments begin in FY2009 FACILITIES SUMMARY Total Gross Square Feet Total Insured Value Building and Capital Improvement Expenditures Total Building Improvements FY 2007 FY 2008 Change 2,910,651 2,910,651 - $430,239,919 $430,239,919 - FY 2007 FY 2008 Change $1,037,948 $982,216 $(55,732) Capital Improvements Residence System (205-10-00) Improvement Funds (205-09-05, 205-09-15) Revenue Bonds (205-02-00) $422,270 $25,690 $(396,580) $1,447,588 $4,672,935 $3,225,347 $0 $999,862 $999,862 Treasurer's Temporary Investments (500-00-65) $14,711 $0 $(14,711) University Funds (113-06-14) $27,827 $0 $(27,827) Facilities Overhead $0 $0 - Total Capital Improvements $1,912,395 $5,698,487 $3,786,091 Total Building and Capital Improvement Expenditures $2,950,343 $6,680,703 $3,730,359 FY 2007 FY 2008 Change $0.36 $0.34 $(.02) $0.66 $1.96 $1.30 $1.01 $2.30 $1.28 Expenditures per Gross Square Foot Building Expenditures per Gross Square Foot Capital Expenditures per Gross Square Foot Total Expenditures per Gross Square Foot Building and capital improvement expenditures are no longer expensed directly to surplus Expenses shown are attributable to the K/S demolition, which is now closed Capital Improvement project carryover to FY09 is $2,889,474 Projects with notable carryover funds include the Hub Renovation project ($547,887), Birch/Welch/Roberts fire escapes ($237,347), Oak Elm Curtain Wall ($297,776), and Friley Asbestos abatement/flooring ($423,586) East Campus Dining Improvements Iowa State University Department of Residence and ISU Dining Annual Report FY2008 Page 16 APPENDIX A – EXPLANATION OF OFF-LINE SPACES Residence Halls Barton Rooms 243 Linden Oak Willow +1 1002 1242 1270 Total Richardson Court Friley Martin Total Union Drive Buchanan Wallace Wilson Total Towers 2216 2251 5526 2202 2017 1328 1403-10460 Total Residence Halls Student Apartments # of Spaces -2 -1 -2 -2 -6 -2 -1 -1 -2 -6 -2 -1 -580 -583 Reason Tour Space space ADDED Student request double be converted to triple Medical Tour Space Medical Tour Space Medical Space Issue Medical Medical Tour Space Building Closed -595 # of Spaces Reason -6 Cleaning -4 -4 -8 -2 -24 -2 -2 -2 -2 -8 -2 -3 -1 Staff Space Custodial Tour Space Medical Tour Space Storage Resident Issue -18 Projects Medical Total Schilletter -1 -2 -27 Total Student Apartments -59 Frederiksen Court Apartments 3113, 3416, 3424, 4233, 5136, 6325 4111 4117 4211, 4213 4212 Total Frederiksen Court University Village 111B 135A 166F 171B Total University Village Schilletter Village Guest Apartments SUV Guest Apartments 10A, 3B 10C, 7C, 7D 32D 54A-D, 55A, 55B, 56A-D, 57A-D, 58A-D 62B 7A, 7B Apartments 3A, 4D, 6A, 8D, 9B, 9C, 9D, 10B, 12A, 12C, 12D, 13B, 15A, 15B, 15D, 17B, 17D, 18A, 18B, 19A, 19D, 20A, 22C, 23A, 23B, 23D, 102E Projects Cleaning Damage Tour Space # of Spaces Reason -27 Furniture Total Guest Apartments -27 Total DOR System -681 Iowa State University Department of Residence and ISU Dining Annual Report FY2008 Page 17 ... State University Department of Residence and ISU Dining Annual Report FY2008 Page SYSTEM DISTRIBUTION of ROOMS and RATES • The number of bed spaces listed is indicative of what was OFFERED to students... students and their families The department offers a number of different room styles and options Iowa State University Department of Residence and ISU Dining Annual Report FY2008 Page Room rates are... University DEPARTMENT OF RESIDENCE AND ISU DINING ANNUAL REPORT FY2008 Table of Contents Page Executive Summary Pages 2-4 Enrollment and Occupancy Page Explanation For Variance In Design, Offered And