University of Puerto Rico

Fiscal Plan
April 30, 2017 - San Juan, Puerto Rico

1
Disclaimer
The University of Puerto Rico (the University), and each of their respective officers, directors, employees, agents, attorneys, advisors, members, partners or
affiliates make no representation or warranty, express or implied, to any third party with respect to the information contained herein and all Parties expressly
disclaim any such representations or warranties. The University has had to rely upon preliminary information and unaudited financials for 2016, in addition to
the inherent complexities that are part of a university in transition.

The Parties do not owe or accept any duty or responsibility to any reader or recipient of this presentation, whether in contract or tort, and shall not be liable for
or in respect of any loss, damage (including without limitation consequential damages or lost profits) or expense of whatsoever nature of such third party that
may be caused by, or alleged to be caused by, the use of this presentation or that is otherwise consequent upon the gaining of access to this document by such
third party.

This document does not constitute an audit conducted in accordance with generally accepted auditing standards, an examination of internal controls or other
attestation or review services in accordance with standards established by the American Institute of Certified Public Accountants or any other organization.
Accordingly, the Parties do not express an opinion or any other form of assurance on the financial statements or any financial or other information or the
internal controls of the University and the information contained herein.

Any statements and assumptions contained in this document, whether forward-looking or historical, are not guarantees of future performance and involve
certain risks, uncertainties, estimates and other assumptions made in this document. The economic and financial condition of the University and its
instrumentalities is affected by various financial, social, economic, environmental and political factors. These factors can be very complex, may vary from one
fiscal year to the next and are frequently the result of actions taken or not taken, not only by the University and its instrumentalities, but also by entities such as
the government of the United States. Because of the uncertainty and unpredictability of these factors, their impact cannot be included in the assumptions
contained in this document. Future events and actual results may differ materially from any estimates, projections, or statements contained herein. Nothing in
this document should be considered as an express or implied commitment to do or take, or to refrain from taking, any action by the University, or any
government instrumentality in the Government or an admission of any fact or future event. Nothing in this document shall be considered a solicitation,
recommendation or advice to any person to participate, pursue or support a course of action or transaction, to purchase or sell any security, or to make any
investment decision.

By receiving this document, the recipient shall be deemed to have acknowledged and agreed to the terms of these limitations.

UNIVERSITY OF PUERTO RICO 2

Table of Contents

Introduction

Cash Flows Measures

Institutional Profile

UNIVERSITY OF PUERTO RICO 3

I. Introduction

4
Guiding Principles of the UPR Fiscal Plan
1. Seeks to meet the fiduciary responsibility of the
University with Puerto Rico while maintaining
institutional integrity and financial stability.
2. Protects the necessary human, financial, technical,
and capital resources needed to support the
sustained achievement of the UPR mission.
3. Centers on the strengthening of the diversity and
uniqueness that characterizes the UPR System for
the successful attainment of the UPR 2017-2022
Strategic Plan.
4. Recognizes the complexities of the external
environment aiming to position itself as a key
contributor to the development of local economies.
5. Aims to champion social, cultural, and economic
growth in alignment with the needs and priorities of
the private and public sectors while strengthening
the academic experience.
UNIVERSITY OF PUERTO RICO
6. Commits to its fiscal responsibility with specific
revenues and expenditures measures to support the
achievement of its strategic sustainable
management goal.
7. Nurtures the innovation and transformation of
academic endeavors, research and the creation of
knowledge, as well as its technological structures.
8. Reinforces institutional capacities without affecting
access, social responsibility, quality of services and
professional and vocational success of its
constituents.
9. Prioritizes administrative and academic
transformations that are guided by efficiency and
effectiveness criteria.
10. Allows for the development of capacity and
creativity among teaching and non-teaching
personnel to implement the necessary changes.
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OUR Commitment to Puerto Rico

UPR Strategic Plan 2017-2022

Educational Service to
Environment Research and Diverse Sustainability
Creative Work Communities STUDENT
To enhance and To attain
differentiate To increase sources To promote growth operational
academic of external funding in local economies efficiencies and to SUCCESS
programs and to secure and to value secure fiscal
according to higher patents cultural and artistic stability
learning trends expressions

UNIVERSITY OF PUERTO RICO 6

UPR Overview
Government of Puerto Rico appropriations are the
main source of the University revenues.

Additional revenues are derived from:

Tuition and fees
Federal grants
Patient services
Interest income
Other sources

The University is in good accreditation standing with

the Middle States Commission on Higher Education,
the regional accreditation entity of the eleven units
that comprise the University of Puerto Rico system.

The University is exempt from the payment of

taxes on its revenues and properties.

UNIVERSITY OF PUERTO RICO 7

Revenue Sources

The Universitys main sources of revenue from the Government of Puerto Rico for
the current fiscal year ending on June 30, 2016-17 are:
UPR Appropriation Formula from Act No. 2, 1966 $ 833.9M
Additional Appropriations for Essential Services provided by the UPR
to the Government of Puerto Rico through Medical School,
Puerto Rico Seismic Network, Technology Assistance Program and
other programs for Student Financial Assistance $ 38.5M
Revenues from the Gambling Law, Act No. 36, 2005 (slot machines)
for operating expenses and debt service $ 62.0M

Total Appropriations from the Government of Puerto Rico $ 934.4M

UNIVERSITY OF PUERTO RICO 8

Trends in Puerto Rico Population 2010 to 2015
The population of Puerto Rico decreased 6.6% There was a decrease in population in the age
between 2010 and 2015. groups:
The main reasons for the population decline are the Under 20 years old of 175,139 or 17.3%.
massive emigration and low population growth. Between 20-24 years old of 5.10%.

25%
19.8%
20% 15.0% 16.0%
14.2%
15% 12.2%
10%
5%
0%
-5% 0.0%
-3.0%
-10% -5.1% -5.0%
-7.3% -7.9% -9.0% -9.3%
-15%
-15.8% -14.3% -15.7%
-20%
-18.6%
-25% -21.3%
Under 5 to 9 10 to 15 to 20 to 25 to 30 to 35 to 40 to 45 to 50 to 55 to 60 to 65 to 70 to 75 to 80 to 85
5 years years 14 19 24 29 34 39 44 49 54 59 64 69 74 79 84 years
years years years years years years years years years years years years years years years and
over

Source: US Census Bureau, Population Estimates 2010-2015

UNIVERSITY OF PUERTO RICO 9

Student Market Projection 2015-2025

The Puerto Rico Planning Board projected

a decrease in Puerto Ricos population of:
8.2% of the total population
from 2015 to 2025. Age Population Population Percent
Difference
Group 2015 2025 change
22.5% in the population
between 15 to19 years 15-19 246,299 190,978 (55,321) -22.5%
of old for 2025. 20-24 262,806 270,652 7,846 3.0%
25-29 211,907 167,682 (44,225) -20.9%

Source: Puerto Rico Planning Board, Population Projections

UNIVERSITY OF PUERTO RICO 10
II. Cash Flows Measures

11
Summary of Cash Flows Measures
The UPR Fiscal Plan considers a reduction in the annual appropriation from the Government of Puerto Rico of
$241 million by fiscal year ending June 30, 2021, as indicated by the Governor of Puerto Rico on his letter to the
Financial Oversight and Management Board on March 20, 2017.
Fiscal Years Ending June 30,
2018 2019 2020 2021 2022 2023 2024 2025 2026

Expense Reduction Measures $ 91.50 $ 125.67 $ 149.20 $ 166.04 $ 167.46 $ 166.04 $ 164.61 $ 163.18 $ 162.32

Revenue Measures $ 57.50 $ 54.33 $ 60.80 $ 74.96 $ 73.54 $ 74.96 $ 76.39 $ 77.82 $ 78.68

Total Impact of Measures $ 149.00 $ 180.00 $ 210.00 $ 241.00 $ 241.00 $ 241.00 $ 241.00 $ 241.00 $ 241.00

UNIVERSITY OF PUERTO RICO 12

Expense Reduction Measures

13
Expense Reduction Measures (Cash Outflows)
(changes in $ millions)
Expenses Reduction Measures
(Cash Outflows) FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026
Reduction to Central Administration
and Other Systemic Services $ 9.00 $ 10.00 $ 18.00 $ 20.00 $ 20.00 $ 20.00 $ 20.00 $ 20.00 $ 20.00
Reorganization of Administrative
Structures and Academic Support
Services 5.00 16.00 25.00 25.00 30.00 30.00 30.00 30.00 30.00
Procurement and General Expense
Reductions 17.50 24.67 26.20 36.04 32.46 31.04 29.61 28.18 27.32
Adjustments to Employees Medical
Insurance, Christmas Bonus 25.00 25.00 30.00 35.00 35.00 35.00 35.00 35.00 35.00
Reduction on Institutional Capital
Improvements Reserve Fund 19.00 34.00 34.00 34.00 34.00 34.00 34.00 34.00 34.00
Debt Service Payment Reduction 16.00 16.00 16.00 16.00 16.00 16.00 16.00 16.00 16.00
Total Expenses Reductions Measures
(Cash Outflows) $ 91.50 $ 125.67 $ 149.20 $ 166.04 $ 167.46 $ 166.04 $ 164.61 $ 163.18 $ 162.32

UNIVERSITY OF PUERTO RICO 14

Assumptions of Expense Reduction Measures
1. Reduction in Central Administration
and Other Systemic Service Costs
The UPR is evaluating the budget assigned to
every cost center with the objective of reducing
the expenses to a sustainable level to all units.
The analysis will include:
Reduction in the operating budget of the
Central Administration.
Optimization the use of institutional funds at
all levels of the UPR.

UNIVERSITY OF PUERTO RICO 15

Assumptions of Expense Reduction Measures
2. Cost Optimization Plan Reduction in operating and general expenses
A detailed cost reduction plan optimizes the use of institutional funds.
The following is a brief summary of cost reduction initiatives:

Energy savings Evaluation of property and casualty

Reduction in supplies expense insurance coverage and policies
Reduction in lease equipment Reduction of property lease
Reduction in professional service contracts
Reduction in travel expense
Renegotiation of service contracts
Renegotiation of medical insurance plan

UNIVERSITY OF PUERTO RICO 16

Assumptions of Expense Reduction Measures

3. Payroll and Related Expenses 4. Capital Improvement Program

Freeze payroll increases Postpone the investment in new construction facilities in
Freeze and elimination of vacant various campuses.
positions
Reduce temporary personnel
5. Medical Insurance Plan
Reduce trust personnel
Maintain the insurance medical plan contribution to
Eliminate special bonus to cover direct family members.
administrative employees
Evaluate alternatives to reduce the continuous increase
Reduce the Christmas Bonus in healthcare spending.
Reorganize of administrative and
academic support services

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Reorganization of Administrative and Academic Support Services

Merging phases throughout the UPR System into Major HUBS.

Administrative PHASE I PHASE II

Structure RO PIEDRAS CAMPUS CAYEY CAMPUS HUB
HUB
* Human Resources Humacao
Bayamn Ponce
* Finance Carolina
* Budget
* General Services MAYAGEZ CAMPUS
HUB
Aguadilla
Utuado
Arecibo

UNIVERSITY OF PUERTO RICO 18

Revenue Measures

19
Revenue Measures (Cash Inflows) Expected Changes
(changes in $ millions)

Revenue Measures (Cash Inflows) FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026
Tuition Increase, Undergraduate Student
$ 6.74 $ 6.74 $ 6.74 $ 6.74 $ 6.74 $ 6.74 $ 6.74 $ 6.74 $ 6.74
Enrollment (with Pell Grant)
Tuition Increase, Undergraduate Student
25.59 14.74 9.02 7.60 6.17 7.60 9.02 10.45 11.31
Enrollment (without Pell Grant)
Tuition Increase, Graduate Student 3.67 2.86 2.04 1.63 1.63 1.63 1.63 1.63 1.63
Reduction in Special Tuition Exemptions 1.50 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
Executive Order No. 2017-021 5.00 10.00 10.00 15.00 15.00 15.00 15.00 15.00 15.00
Department of Education
10.00 10.00 10.00 15.00 15.00 15.00 15.00 15.00 15.00
(training to teachers and tutoring)
Municipalities Technical Agreements - - 4.00 6.00 6.00 6.00 6.00 6.00 6.00
PR Science & Technology Trust, patent - - 3.00 4.00 4.00 4.00 4.00 4.00 4.00
Virtual University - 1.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00
Other Revenues Initiatives
5.00 6.00 11.00 14.00 14.00 14.00 14.00 14.00 14.00
(i.e. external funds, gambling law)
Total Revenue (Cash Inflows) Measures $ 57.50 $ 54.33 $ 60.80 $ 74.96 $ 73.54 $ 74.96 $ 76.39 $ 77.82 $ 78.68

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Assumptions for Revenue Measures
1. Tuition Increase
Adjustments to the student expected family
contribution (EFC) will be implemented as a
means based tuition policy.
Increase in the undergraduate credit
cost to $120 with UPR subsidy up to
100% for students with financial
disadvantage as reported in the
Application for Federal Student Aid.
Increase in tuition costs for graduate,
professional and international students
(specific credit costs under evaluation).
2. Special Tuition Exemptions
Evaluate the special tuition exemption
policy.
UNIVERSITY OF PUERTO RICO
3. Executive Order 2017-021
Develop Government and UPR Agreements and Contracts
through the UPR Interagency Project.
On February 15, 2017, the Governor of Puerto Rico,
Hon. Ricardo Rosell Nevarez established a
government public policy to create interagency
agreements with the University of Puerto Rico.
The Executive Order mandates governmental agencies
to grant priority to the University of Puerto Rico when a
training and development program is contracted for
employees in the public sector.
4. Puerto Rico Science and Technology Patents
Develop scientific research projects by the
Ro Piedras, Mayagez and Medical Sciences Campuses
to obtain patent rights granted by the Federal
Government and increase royalty revenues.
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Means Based Tuition Model for Undergraduate Students
Expected Family Contribution or % of Total Proposed Subsidy Net Cost per Estimated Total
Number of % of Estimated New
EFC (number that determines Undergraduate Cost per per Credit after Amount in Actual Income Net Increase1
Students Subsidy Gross Income
students eligibility for federal aid) Students Credit Credit Subsidy Subsidy
0 - 499 28,177 50% 100% $ 120 $ 64 $ 56 $ 50,492,536 $ 44,180,969 $ 44,180,969 -
500 - 999 2,043 4% 90% $ 120 $ 58 $ 62 $ 3,295,443 $ 3,570,063 $ 3,203,903 $ 366,160
1000 - 1499 2,001 4% 80% $ 120 $ 51 $ 69 $ 2,868,660 $ 3,854,762 $ 3,137,597 $ 717,165
1500 - 1999 1,673 3% 70% $ 120 $ 45 $ 75 $ 2,098,450 $ 3,522,399 $ 2,623,063 $ 899,336
2000 - 2499 1,527 3% 60% $ 120 $ 38 $ 82 $ 1,642,265 $ 3,489,814 $ 2,394,970 $ 1,094,844
2500 - 2999 1,160 2% 50% $ 120 $ 32 $ 88 $ 1,039,677 $ 2,859,112 $ 1,819,435 $ 1,039,677
3000 - 3499 900 2% 30% $ 120 $ 19 $ 101 $ 483,768 $ 2,539,782 $ 1,410,990 $ 1,128,792
3500 - 3850 523 1% 20% $ 120 $ 13 $ 107 $ 187,324 $ 1,568,836 $ 819,541 $ 749,295
3851 1,196 2% 10% $ 120 $6 $ 114 $ 214,301 $ 3,803,839 $ 1,875,132 $ 1,928,707
Undergraduate Student
16,800 30% 0% $ 120 - $ 120 - $ 56,448,000 $ 26,342,400 $ 30,105,600
Enrollment (w/o. Pell Grant)
Total Undergraduate
56,000 100% $ 62,322,424 $ 125,837,576 $ 87,808,000 $ 38,029,576
Students
Allowance for Tuition Exemptions $ (18,875,636) $ (13,171,200) $ (5,704,436)
Net Estimated Income from Tuition $ 106,961,939 $ 74,636,800 $ 32,325,139

1. Net Increase does not include inflation adjustment

UNIVERSITY OF PUERTO RICO 22

Assumptions for Revenue Measures: Enrollment Projection

Short-Term Strategy Long-Term Strategy Enrollment

Goal
UPR Promotion & Recruitment and Enrollment approximately
Management Plan 56,000
Recruitment Plan
students.

62,000
62,000
59,000

56,000 57,800

55,700 56,000
55,400 55,200
53,000 54,700 54,200 54,700

FY FY FY FY FY FY FY FY FY
2018 2019 2020 2021 2022 2023 2024 2025 2026
Total Undergraduate Students (with Pell Grant) 39,200 39,200 39,200 39,200 39,200 39,200 39,200 39,200 39,200
Total Undergraduate Students (without Pell Grant) 16,800 13,000 11,000 10,500 10,000 10,500 11,000 11,500 11,800
Total Graduate Students 6,000 5,600 5,200 5,000 5,000 5,000 5,000 5,000 5,000

62,000 57,800 55,400 54,700 54,200 54,700 55,200 55,700 56,000

UNIVERSITY OF PUERTO RICO 23

Assumptions for Revenue Measures
5. Virtual University
Development of online academic offering to
expand local services and enhance outreach to
prospective international students.
6. New Service Contracts with the
Department of Education
Establishment of collaborative agreements
with the Puerto Rico Department of Education
(PRDE) to provide training and mentoring to
the teachers of the PRDE.
7. New training and development contracts with
local municipalities of Puerto Rico.
Establishment of alliances with local
municipalities to provide educational and
training services.
8. Other Initiatives
The University of Puerto Rico is seeking other
revenue initiatives in order to generate more
resources to the entity. Among these initiatives
are:
UPR Foundation
External funding by other federal
agencies and private foundations
Medical Cannabis Project
License Plates
Vehicle Registration Sticker (Marbete)
Ley de Apoyo Financiero UPR
Course Repetition Policy

UNIVERSITY OF PUERTO RICO 24

III. Institutional Profile

25
Organic Law
Founded in 1903 Mission
The University of Puerto Rico To serve the people of Puerto Rico and contribute to the
(the University) is a state development and enjoyment of the fundamental, ethical
supported university system and esthetic values of Puerto Rican culture, and committed
created by Law No. 1 to the ideals of a democratic society.
of January 20, 1966, To advance its mission, the University strives to provide
Law of the University high quality education and create new knowledge in the
of Puerto Rico Arts, Sciences and Technology.
(Act No. 1), as amended.

UNIVERSITY OF PUERTO RICO 26

Governing Board
The University is a public corporation of the Commonwealth of Puerto Rico governed by a
fourteen-member Governing Board composed of:

Eight members
The Secretary of One ex-officio
appointed by
the Department member of the
the Governor of
Two tenured Two full-time of Education of Fiscal Agency
Puerto Rico and
professors students Puerto Rico and Financial
confirmed by
becomes ex- Advisory
the Senate of
officio member Authority
Puerto Rico

The President of the University, appointed by the The Chancellors, appointed by the Board of
Board of Governors, is the Chief Executive Officer Governors following the recommendation of the
(CEO) of the Institution. President of the University, under the Presidents
oversight.

UNIVERSITY OF PUERTO RICO 27

 Organization and Governance
Governing Board

President University Board

Ro Piedras Mayagez Medical UPR UPR UPR UPR UPR UPR UPR UPR
Campus University Science Aguadilla Arecibo Bayamn Carolina Cayey Humacao Ponce Utuado
Campus Campus

UNIVERSITY OF PUERTO RICO 28

Institutional Units: Location
Founded in 1903, UPR is the only state supported university system, comprised of 11 campuses
strategically located throughout the Island of Puerto Rico, encompassing three Carnegie Classifications.

UPR at Aguadilla UPR at Arecibo

UPR at Bayamn UPR at Carolina
Ro Piedras Campus
Mayagez Medical Science Campus
UPR at Utuado
University
Campus UPR at Humacao
UPR at Cayey
UPR at Ponce

UNIVERSITY OF PUERTO RICO 29

 Institutional Accreditation and Licensing Compliance

MSCHE accreditation is
fundamental for the
Since 1946, the UPR maintains financial stability of the
institutional accreditation by University.
the Middle States Commission Without this
on Higher Education (MSCHE) accreditation the
as its leading credential to University would not be
validate and strengthen the authorized to manage
quality and integrity of its Title IV funds.
endeavors in the framework of This is one of the basic
internationally recognized requirements
standards. established by the US
Department of
Education.

UNIVERSITY OF PUERTO RICO 30

31
Faculty Profile
4,887 faculty members
Other Degrees, 182 , 4%

Baccalaureate, 108 , 2%

Masters, 1,598 , 33%

Doctorate, 2,999 , 61%

UNIVERSITY OF PUERTO RICO

Academic Offerings Across the UPR System
Undergraduate
38 Associate Degrees
239 Baccalaureates
200 Articulated Transfer Programs
between campuses leading to
Baccalaureate Degrees
Certifications and other specializations
694 degree granting academic programs
and professional certification programs in: programs are
Arts
Sciences
Business
Engineering
Technology
UNIVERSITY OF PUERTO RICO
Graduate
6 First Professional Level Degrees: J.D., M.D., D.M.D., PharmD and Au.D.
15 Graduate Certificates
119 Masters
34 Ph. D.s and Professional Doctorates
41 Medicine and Dental Medicine Residency Programs
58% of academic Examples:
The Business Administration School at the Ro Piedras Campus is
susceptible to accredited by the Association to Advance Collegiate Schools of
professional Business (AACSB), making it the first public business school to
accreditation. achieve this distinction in the Caribbean Region.
Of these 87% are Less than 5% of the 13,000 business schools worldwide have
already accredited. achieved this prestigious recognition.
33
List of Specialized Accreditations
ABET CAC Commission on Accreditation for Health Informatics and Information
ABET - ETAC Management Education
Accreditation Commission for Midwifery Education Commission on Accreditation of Healthcare Management Education
Accreditation Commission for Programs in Hospitality Administration Commission on Accreditation of Ophthalmic Medical Programs
(ACPHA) Commission on Collegiate Nursing Education
Accreditation Council for Business Schools and Programs (ACBSP) Computing Accreditation Commission, ABET, Inc.
Accreditation Council for Education in Nutrition and Dietetics Council for the Accreditation of Educator Preparation.
Accreditation Council for Pharmacy Education Council on Accreditation of Nurse Anesthesia Educational Programs
Accreditation Council for Occupational Therapy Education, American
Occupational Therapy Association Council on Education for Public Health
Accrediting Council on Education in Journalism and Mass Council on Rehabilitation Education
Communication (ACEJAC) Council on Social Work Education
American Alliance of Museums Engineering Technology Accreditation Commission, ABET, Inc.
American Bar Association International Association of Counseling Services
American Chemical Society Joint Commission on Allied Health Personnel in Ophthalmology and
American College of Nurse Midwives Commission on Accreditation of Allied Health Education Programs
American Dental Association Joint Review Committee on Education in Radiologic Technology
American Physical Therapy Association Joint Review Committee on Educational Programs in Nuclear Medicine
American Psychological Association
American Society of Cytopathology Technology
American Speech-Language-Hearing Association Liaison Committee on Medical Education
American Veterinary Medical Association National Accrediting Agency for Clinical Laboratory Sciences
Association of American Laws Schools National Architectural Accrediting Board
Association of College and Research Libraries, American Libraries National Association for the Education of Young Children
Association National Association of Schools of Public Affairs and Administration
Association to Advance Collegiate Schools of Business National League for Nursing Accrediting Commission
National Council for Accreditation of Teacher Education (NCATE)
Planning Accreditation Board

UNIVERSITY OF PUERTO RICO 34

Across Components

Conferring over 487 Ph.D.'s

in the last 5 years,
Graduate close to 50% in Science and Technology.
Academic
Programs

More than 90% of research and

scholarly articles published in indexed
and peer reviewed in Puerto Rico
produced by the UPR faculty and their
Research students.

UNIVERSITY OF PUERTO RICO 35

Student Profile
Enrollment Data Trends 2012-13 to 2016-17

64,000
62,182
62,000
60,351
60,000
57,772 58,104
58,000 57,482

56,000
54,000
2012-13 2013-14 2014-15 2015-16 2016-17

UNIVERSITY OF PUERTO RICO 36

Student Profile
Applications, Admissions and Freshmen Enrollment
20,000
17,798 18,350
18,000
15,599 16,127
16,000 15,528
14,295 14,245
14,000 12,514 13,024
12,383 12,260 12,374
12,000 10,849 10,771 11,278
10,000
8,000
6,000
4,000
2,000
-
2012-13 2013-14 2014-15 2015-16 2016-17
Applications 15,599 15,528 16,127 17,798 18,350
Admissions 12,383 12,514 13,024 14,295 14,245
Freshmen Enrollment 10,849 10,771 11,278 12,260 12,374

UNIVERSITY OF PUERTO RICO 37

Tuition and Academic Costs: Federal Pell Grant Program Amounts
Annual maximum amount Percentage of Pell Grant Participants 2006 - 2015
to be eligible for 70,000 78.0%
Pell Grant Award $5,920 75.1%
76.0%
60,000 73.6%
74.0%
71.8%
$5,815 50,000 70.7%
69.5% 69.6%
72.0%
68.8%
$5,775 40,000
70.0%

68.0%
$5,730 65.5%
66.0%
30,000
62.8% 63.1%
64.0%
$5,645 20,000 62.0%

60.0%
10,000
58.0%

0 56.0%

2006-2007

2007-2008

2008-2009

2009-2010

2010-2011

2011-2012

2012-2013

2013-2014

2014-2015

2015-2016
2013-14

2014-15

2015-16

2016-17

2017-18

Undergraduate Enrollment
Matrcula Total Sub Graduada Pell Grant
Total Participants
Participantes FPell %Participation
% Participacin

Since 2006-2007, the participation of students receiving financial

assistance from the Federal Pell Grant has been over 60%.
The highest Pell Grant participation percentage was
75.1% in 2011-2012.
UNIVERSITY OF PUERTO RICO 38
UPR Retirement Plan
The Governing Board of the University establishes Funded Ratio of the UPRs Retirement Plan
contribution rates to the Retirement System based on as of Jan 1st:
an actuarially predetermined rate recommended by an
independent actuary at the beginning of the fiscal year. 2011 2012 2013 2014 2015
The actuarially predetermined rate is the estimated 41.0% 39.7% 40.8% 43.9% 46.6%
amount to finance the costs of benefits earned by
employees during the year, with an additional
amount to finance any unfunded liability. The funded ratio would be adversely affected by
the cost reduction plan that will be implemented as
The University is required to contribute the part of the Fiscal Plan required by the Financial
difference between the actuarially predetermined Oversight and Management Board.
rate and the contribution rate of employees.
The University contributed 17.8% of covered
employee payroll.
The Universitys contributions to the Retirement
System amounted to approximately $88,251,000.

UNIVERSITY OF PUERTO RICO 39