Maricopa county community college district finance budget summary for fiscal year 2005 2006
Download
1 / 21

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


  • 105 Views
  • Uploaded on

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.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'MARICOPA COUNTY COMMUNITY COLLEGE DISTRICT FINANCE/BUDGET SUMMARY FOR FISCAL YEAR 2005-2006' - adolfo


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.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
Maricopa county community college district finance budget summary for fiscal year 2005 2006

MARICOPA COUNTY COMMUNITY COLLEGE DISTRICT FINANCE/BUDGET SUMMARYFOR FISCAL YEAR 2005-2006


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
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 categories:

  • consists of a president

  • a secretary

  • and three community members


The mccd district administration
The MCCD District Administration categories:

  • 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 categories:

  • 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 categories:

  • 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 categories:

  • State aid

    • $56.9 million for 2006

  • interest income

  • transfers from other funds

  • carryforward of the fund balance


Auxiliary fund 1
Auxiliary Fund 1 categories:

  • 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 categories:

  • 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 categories:

  • 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 categories:

  • 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 categories:

  • 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 categories:

  • 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. categories:

  • accounts for capital expenditures for building upgrades and renovation

  • new construction

  • capital equipment purchases


Employment facts
Employment Facts categories:

  • 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


Maricopa county community college district finance budget summary for fiscal year 2005 2006