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Board Budget Workshop

Board Budget Workshop. January 24, 2017 Prepared by: Ed Maduli. 2017/18 State Budget. Governor releases State Budget on January 10, 2017 $122.5 billion general fund budget $14.6 billion for community colleges. 2017/18 Community College Budget. $94.1 million for a 1.48% COLA

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Board Budget Workshop

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  1. Board Budget Workshop January 24, 2017 Prepared by: Ed Maduli

  2. 2017/18 State Budget • Governor releases State Budget on January 10, 2017 • $122.5 billion general fund budget • $14.6 billion for community colleges

  3. 2017/18 Community College Budget • $94.1 million for a 1.48% COLA • $79.3 million for a 1.34% growth • $23.6 million for a base increase • $150 million for implementation of Guided Pathways (one-time) • $20 million for Innovation Awards Program (one-time) • $5.4 million for a 1.48% COLA for Apprenticeship, EOPS, DSPS, CalWorks and Child Care • $3.1 million for enrollment growth in the full-time Student Success Grant program • $10 million for Online Education Initiative • $6 million for procurement of an Integrated Library System • $43.7 million for Physical Plant and Instructional Equipment Program (one-time) • $52.3 million for energy efficiency projects (one-time)

  4. What Is Not Funded (No Additional Augmentation) • Student Success • Student Equity • Workforce/CTE Pathways • Basic Skills • Adult Education • 24 BOG-approved Capital Outlay Projects

  5. State Revenue Impact on Community Support Districts • No State apportionment • Continue to receive funding for: • Lottery • EPA • Mandated costs • Student Categorical Funds • Other State/Federal Grants

  6. 2017/18 District Budget • Major assumptions • 1.48% State COLA • No growth or restoration funds • WSCH: 530 • FTES Target: 14,000 • 5% reserve and no more than 3% contingency reserve • 309.0 FTE faculty funded • Student categorical funding same as 2016/17 • Proposition 30 funded at $100/FTES • Meet statutory obligations • Faculty hiring funding

  7. Budget Development Approach • Maintain community support status • Stabilize enrollment • Use Resource Allocation Model • Balanced Budget

  8. 2017/18 FTES Target

  9. 18 – 22 year olds/California

  10. District Liabilities • Banked Leave • Vacation and Comp Time • Lease Revenue Bonds • OPEB • CalPERS • CalSTRS

  11. Banked Leave Liability

  12. Vacation and Comp Time Liability

  13. Lease Revenue Bonds – 2009

  14. 2016 Lease Revenue Bonds Debt – 2009A1 Refunding comparison Total debt prior to refunding = $80,157,674 Total debt after refunding = $69,333,131 Total savings from refunding = $10,824,543

  15. Lease Revenue Bonds Debt– 2011

  16. OPEB

  17. CalSTRS and CalPERS Summary of Employer Contribution Rate

  18. CalSTRS and CalPERS Rate Increase

  19. 50% Law

  20. Faculty Obligation Number *FON Frozen

  21. Factors affecting District Budget in the Out Years • Possible recession • Federal Grants

  22. Summary of Cost for Banner Implementation

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