Budget update welcome back
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Budget Update Welcome Back. Diana Keelen August 17, 2012. “While the California budget is uncertain, there is one thing that is certain, it will change.”. California State Budget. Deficit is $14.7 billion Assumes the passage of Proposition 30: Schools and Public Safety Act in November

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Budget Update Welcome Back

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Budget update welcome back

Budget UpdateWelcome Back

Diana Keelen

August 17, 2012

  • “While the California budget is uncertain, there is one thing that is certain, it will change.”


California state budget

California State Budget

  • Deficit is $14.7 billion

  • Assumes the passage of Proposition 30: Schools and Public Safety Act in November

  • Temporary sales tax increase of 0.25% and progressive 1-3% income tax increase for those making over $250K per year.

  • Polling is at 52-56%

  • Competing with Molly Munger tax geared towards K-12 only


California community college budget

California Community College Budget

  • Tax package would bring 4% additional funding each year or $3 billion to community colleges over the next 7 years

  • It would provide $548.5 million alone in 2012-2013, including $50 million in growth-Timing may be a challenge

  • Includes $28 per FTES in Mandated Cost Reimbursement

  • RDA hold harmless agreement

  • Deferrals are at $961 million-$159 million would be “bought down”

  • If the tax package fails, college enrollment would drop by 85,000 FTES

  • If the tax package fails, CC budgets would be reduced by $338.6 million

  • If it fails, deferrals would be on-going


Antelope valley college budget

Antelope Valley College Budget


General fund make up of revenue

General Fund Make Up of Revenue


General fund make up of expenditures

General Fund Make Up of Expenditures


Deficit co efficient trend

Deficit Co-Efficient Trend


Deferrals

Deferrals

  • California Community College Deferrals now at $961 million

  • AVC impact: Deferral total of $14,165,447 or roughly 32% of our apportionment.

  • For 2012-2013, we will only receive 40% of what we received in the first 5 months of 2011-2012


What happened in 2011 2012

What happened in 2011-2012?


2012 2013 draft adopted budget assumptions

2012-2013 Draft Adopted Budget Assumptions

  • No COLA

  • No Growth, although if tax package passes, there is about $50 million in growth or ~$400K-$450K to AVC

  • Scenario B with tax package not passing

  • Continued deferrals of over $14 million

  • No deficit co-efficient

  • Continued deficit spending reserve-Need a plan

  • Risk of falling below 8% reserve next year


Budget changes from 11 12 to 12 13

Budget Changes from 11-12 to 12-13


Budget update welcome back

2012-2013 Draft Adopted Budget & Projections

Preliminary Figures/Unaudited Actuals

As of 8/13/2012

2013-2014 and beyond assumes 4% increase if tax package passes will most likely go to deferral buy down


Budget update welcome back

Questions?


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