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FINANCIAL STATE OF THE COLLEGE

FINANCIAL STATE OF THE COLLEGE. Presented by : Division of Financial & Administrative Affairs February 16, 2012. Current Financial Position Allocation of Funds Renewal and Replacement (R & R) Major Projects Revenue Sources Outcomes Funding Formula Recurring Revenue & Expenses.

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FINANCIAL STATE OF THE COLLEGE

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  1. FINANCIAL STATE OF THE COLLEGE Presented by: Division of Financial & Administrative Affairs February 16, 2012

  2. Current Financial Position Allocation of Funds Renewal and Replacement (R & R) Major Projects Revenue Sources Outcomes Funding Formula Recurring Revenue & Expenses AGENDA

  3. Accomplishments Challenges Options Budget Requests Q & A AGENDA

  4. ALLOCATION OF FUNDS PER REVISED BUDGET 11/12

  5. RENEWAL & REPLACEMENT (R&R)

  6. MAJOR PROJECTS State Funded • HVAC Update – Nelms Classroom Building • Nursing and Allied Health Building • Campus Plumbing Corrections • ADA Adaptations

  7. MAJOR PROJECTS Campus Funded • Gymnasium Repairs/Updates • Women’s Softball Field • Master Plan • Telephone System State & Campus Funded • Student Center (One-Stop Shop) Repairs/Updates

  8. REVENUE SOURCES *Includes Bookstore Commission (Budget for FY 11/12 $225,000)

  9. REVENUE SOURCES

  10. OUTCOMES FUNDINGRECOMMENDATIONFYE 2013

  11. OUTCOMES FUNDINGFYE 2013

  12. CALCULATION OF STATE FUNDING RECOMMENDATIONFYE 2013

  13. RECURRING REVENUE & EXPENSES Total Recurring Revenue $ 26,256,162 Total Recurring Expenses $ 25,992,096 Recurring Revenue Over Expenses $ 264,066 Reduction in Appropriations ? Allocation for Correction in Enrollment ? Additional Budget Requests for FYE 2013 ? Reserve for Future Salary Increases ?

  14. ACCOMPLISHMENTS Pay Increases • Across the Board 3% • Equity Adjustments (All employees at least at 87% of their target) • Bonuses (Max allowed $1,000 per employee with 2 years of qualifying experience) Funding of 25% ($888,522) of Campus Projects (FYE June 30, 2012)

  15. CHALLENGES Unfunded Campus Projects 40 $3,060,000 Unfunded Capital Projects 7$4,385,000 Appropriations – Continual Decreases Enrollment Fluctuations • FTE Increase of 18.2% for Fall 2009 • FTE Increase of 2.8% for Fall 2010 • FTE Decrease of -4.3% for Fall 2011 • FTE Decrease of -8.4% for Spring 2012

  16. CHALLENGES Equity Pay (Includes Benefits) • 2011-2012 • Bringing Everyone to Target (Currently Requires $1,156,281) • Bringing Everyone to Market (Currently Requires $1,899,902)

  17. CHALLENGES Equity Pay (Includes Benefits) • 2012-2013 (Scale Indexed by 3%) • Bringing Everyone to Target (Will Require $1,532,984) • Bringing Everyone to Market (Will Require $2,318,364)

  18. OPTIONS Increase Revenue • Appropriations (Outcomes Funding Formula) • Tuition & Fees (Increasing Enrollment) Adjust Expenses • Reallocate Expenses Over Smaller Number of Faculty and Staff (Attrition) • Reduce Overall Expenses (Budget Cuts) • Salary & Benefits 77% of Budget • Consider Changing Processes for Efficiency as Opposed to Adding Faculty and Staff

  19. RECURRING BUDGETREQUESTS • Include Amount and Justification for Request Above Base Budget • Include Amount and Justification for • Request for New Position (if any)

  20. NON-RECURRING BUDGETREQUESTS $0 - $399 Include in Normal Budget $400-$3,999 Submit with Normal Budget *$4,000 or Above Campus Projects (Submit through chain of command to VP – VP submit to VPFAA) *If $4,000 or above but not project related submit with Normal Budget.

  21. BUDGET TIMELINE March 1, 2012 • Deadline for Budget Managers to Submit Proposed FYE 2013 Budgets to President and VPs March 15, 2012 • Deadline for President and VPs to submit proposed FYE 2013budgets to Vice President Finance and Administration • Deadline to Submit FYE 2012 Budget Revisions

  22. QUESTIONS & ANSWERS

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