1 / 13

Victor Valley Community College District 2013-14 Budget Workshop June 11, 2013

Victor Valley Community College District 2013-14 Budget Workshop June 11, 2013. Agenda. 2013 /14 Budget Assumptions Redevelopment Agency Pass Through Funds (RDA) Other Post Employment Benefits (OPEB) GIC Growth Split Ending Balances Tentative Budget. General Fund Budget Assumptions

addison
Download Presentation

Victor Valley Community College District 2013-14 Budget Workshop June 11, 2013

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Victor Valley Community College District2013-14 Budget WorkshopJune 11, 2013

  2. Agenda • 2013 /14 Budget Assumptions • Redevelopment Agency Pass Through Funds (RDA) • Other Post Employment Benefits (OPEB) • GIC • Growth Split • Ending Balances • Tentative Budget

  3. General Fund Budget Assumptions For Fiscal-Year 2013-2014 General Assumptions: The District shall maintain legal compliance with the 50% law The District will develop a balanced budget with a minimum 5% ending fund balance (reserve) The District will not access long-term reserves for balancing the budget The Program Review, Planning, and Budget Development Process will guide the allocation of all resources Vacancies due to retirement or resignation will not automatically be filled Board of Trustee Resolution #12-07, approved at their meeting in July, 2012, authorizes and directs the Superintendent/President to establish a policy goal of balancing the District’s budget by Fiscal Year 2015/16 in accordance with Title 5 of the California Code of Regulations Finance, Budget, and Planning Committee recommends incorporating the April 3, 2013 FCMAT recommendations in developing updated business processes and balancing the District budget

  4. Revenue Assumptions: • General fund reserve funds (Bridge) will be utilized to offset revenue shortfall • The State recommends 1.57% Cost of Living Adjustments (COLA) funding • The State recommends 1.63% Growth funding • The State recommends $16.9 million for “online initiatives” is recommended for distribution among 72 districts

  5. Expense Assumptions: • 12. Employer mandatory payroll cost will increase proportionately to the COLA, since by contract the legislated COLA must be applied to the salary schedule • 13. Budget augmentations will initially be considered for mandatory and compliance related requests • Budget augmentations for non-mandated or compliance issues may be considered through reallocation of existing resources or one-time external non-general fund revenue • The budgets for object code 5000 expenditures will be reset to either the highest amounts expended during the past two years or the current fiscal year • District health benefit premiums will increase by approximately 10% • Employer contribution to PERS will increase from 11.417% to ___ (the PERS Board will meet in Mid-June 2013 to update the rate) • State Unemployment Insurance rates will decrease from 1.1% to .05%

  6. Redevelopment Agency Pass Through Funds (RDA) Revenue 52.5% To 47.5% To General Infrastructure & Fund Maintenance Total 2008/09 $ 1,153,933 $ 1,275,399 $ 2,429,332 2009/10 $ 617,333 $ 682,316 $ 1,299,649 2010/11 $ 440,445 $ 486,808 $ 927,253 2011/12 $ 332,980 $ 368,031 $ 701,011 2012/13 * $ 313,920 $ 1,195,625 $ 1,509,545 * as of 6/11/13

  7. YTD Budget Expansion Proposal • (Community College League of California) • As of 6/11/13 • Enrollment restoration: 1.63% • Cost-of-living adjustment: 1.57% • Student Success: $50 million • Proposition 39: $48 million • Deferred Maintenance: $30 million • Online education: $16.9 million • EOPS: $15 million • DSPS: $15 million • CalWORKs: $8 million • Academic Senate: $150,000

  8. Growth Split Total District Growth (1.63%) $ 666,446 Instructional (50% Law) $ 333,223 Cost of Growth $ 150,000 Discretionary $ 183,223 Non-Instructional $ 333,233 Student Services $ 166,617 Admin. Services $ 166,617

  9. Ending Balances

  10. Discussion

More Related