maricopa county community college district finance budget summary for fiscal year 2005 2006
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MARICOPA COUNTY COMMUNITY COLLEGE DISTRICT FINANCE/BUDGET SUMMARY FOR FISCAL YEAR 2005-2006

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MARICOPA COUNTY COMMUNITY COLLEGE DISTRICT FINANCE/BUDGET SUMMARY FOR FISCAL YEAR 2005-2006 - PowerPoint PPT Presentation


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MARICOPA COUNTY COMMUNITY COLLEGE DISTRICT FINANCE/BUDGET SUMMARY FOR FISCAL YEAR 2005-2006. By Meleah Cutler Paula Hightower Paige Paynter Tiffany Seybert Jerry Wiegert. Overview.

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Presentation Transcript
slide2
By
  • Meleah Cutler
  • Paula Hightower
  • Paige Paynter
  • Tiffany Seybert
  • Jerry Wiegert
overview
Overview
  • Maricopa County Community College District (MCCCD) currently is comprised of ten colleges and two skill centers.
  • They offer over 9,834 courses
  • 3,175 academic courses
  • 6,659 occupational courses
budget
Budget
  • Voters approved Proposition 401 (2004)
    • General Obligations bond in the amount of $951,359,000
    • for capital development over the next ten years
budget cont
Budget Cont.
  • MCCCD has an adopted budget of $1.1 billion
  • an increase of $101.2 million over fy 2004-05
  • budget is comprised of three current funds
    • two of which are operating funds
    • one being plant or capital funds
operating costs
Operating Costs
  • current unrestricted fund and revenues are used to cover most of the basic operating costs
  • include salaries
  • benefits
  • utilities
  • and supplies
this year overall expenditures would include several categories
This year overall expenditures would include several categories:
  • Additional contribution of 1.7% in Arizona State Retirement System from 5.7% to 7.4% at a cost of $4.1 million
  • Fifty-two additional faculty were added for a total cost of $3.8 million
  • The enhanced access (enrollment growth funding) expenditure was $5.3 million
the governing board for mcccd
The Governing Board for MCCCD
  • consists of a president
  • a secretary
  • and three community members
the mccd district administration
The MCCD District Administration
  • consists of a chancellor
  • an acting vice-chancellor for academic affairs
  • a vice-chancellor for business services
  • a vice-chancellor for human resources
  • a vice-chancellor for information technologies
  • and a vice-chancellor of student development and community affairs
general fund operations
General Fund Operations
  • district’s main operating budget
  • most of the money comes from property taxes
  • tuition
  • and fees
  • this fund is 45% of the total district budget
  • General Fund for 2006 is $491.8 million
second largest source of revenue
Second largest source of revenue
  • comes from tuition and fees
  • 2006 are at $123.9 million
  • which is up approximately $14.8 million from 2005
  • the tuition and fees are considerably lower than the four year colleges in this area
  • has been an increase in enrollment in the community college recently due to tuition costs rising nationwide
revenue sources
Revenue Sources
  • State aid
    • $56.9 million for 2006
  • interest income
  • transfers from other funds
  • carryforward of the fund balance
auxiliary fund 1
Auxiliary Fund 1
  • part of the General Fund
  • estimated total need of $55 million
  • for operating costs for new capital development and technology
  • increase in salaries and wages
    • due to the addition of 177.2 new positions
    • including additional faculty positions
miscellaneous and transfer funds
Miscellaneous and transfer funds
  • uncollected tax liability
  • enrollment growth program funds
  • carryforward allocations
  • operational contingency
  • transfers to other funds
  • compensated absences
  • and tuition waivers
the current auxiliary fund 2
The Current Auxiliary Fund 2
  • revenues and expenditures that support a variety of student services and activities
  • accounts for 10.3% of the total district budget
  • total adopted budget of $111.9 million
  • anticipating revenue from Proposition 301 sales tax
    • approximately $7.1 million
grants and contracts
Grants and contracts
  • Carl Perkins Grant funds
  • the Department of Education
  • small business administration grants
  • the Arizona Department of Commerce
  • early college high school and teacher prep grants
  • Title V grants
restricted fund 3
Restricted Fund 3
  • accounts for 14% of the total budget
  • includes potential financial aid awards
  • grants
  • contracts and Proposition 301 sales tax revenues
  • anticipating revenue from Proposition 301 sales tax of approximately $7.1 million
the plant fund
The Plant Fund
  • also known as the capital budget fund
  • accounts for almost 31% of the district’s total budget
  • amounts to $336.8 million
  • assumes state aid funding as included in the state appropriated budget
  • monies are generated from bond programs
plant fund cont
Plant Fund Cont.
  • accounts for capital expenditures for building upgrades and renovation
  • new construction
  • capital equipment purchases
employment facts
Employment Facts
  • 1,307 residential faculty
  • 590 males, 717 females
  • 1,032 White, 65 Black, 143 Hispanic, 45 Asian/Pacific Islander, and 22 Native American
  • all employee groups
    • approximately 4,298 employees
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