Mt. San Jacinto Community College District
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Transcript of Mt. San Jacinto Community College District
Mt. San Jacinto Community College District
Board of Trustees
Eugene V. KadowDorothy J. McGargillAnn MotteGwendolyn SchlangeJoan F. Sparkman
Interim Superintendent/President
Dr. Richard J. Giese
2005-2006 Adopted Budget
September 8, 2005
Business Services, September 8, 2005
Mt. San Jacinto College 2005-06 Adopted Budget
PRESENTATION OUTLINE
• Economic Profile• Enrollment Trend• 2005-06 State Budget for Community Colleges
Impact of State Budget Actions• MSJC Budget Planning Assumptions
Major Funding Issues• Proposed Adopted Budget 2005-06
General Fund Unrestricted Categorical Revenues Child Development Center Fund Auxiliary Funds Capital Outlay, Lease Revenue Bond Revenue and Expense Summary – All Funds
Business Services, September 8, 2005
Mt. San Jacinto College 2005-06 Adopted Budget
ECONOMIC PROFILE
• California’s financial profile continues to improve
Personal income rising
Jobs are up, unemployment is down
• Risk of economic downturn exists
Federal Reserve continues to increase interest rates
California real estate market is vulnerable to interest rate increases
Inflation due to cost increases for gas and fuels, insurance and construction raw materials
• National and global uncertainty will impact State economy
War
Natural disasters
ENROLLMENT TRENDMt. San Jacinto College 2005-06 Adopted Budget
Business Services, September 8, 2005
• At P2, MSJC enrollment growth fully funded at 8.04%. (Actual certification will be received in February 2006.)
• Chancellor’s Office 2005-06 calculated growth rate for MSJC is 10.83%, third highest in the state.
• MSJC Fall 2005 enrollments are flat compared to Fall 2004.
• The schedule for Spring and Summer 2006 provides the access needed to achieve target enrollments.
• Fall 2005 enrollments are down across the state.
0
5
10
15
20
25
30
35
40
45
FY96-97 FY97-98 FY98-99 FY99-00 FY00-01 FY01-02 FY02-03 FY03-04 FY04-05 PROJ2006
FEDERAL
OTHERENROLLMENT FEES
STATE APPORTIONMENTPROPERTY TAXES
Mt. San Jacinto CollegeTen Year Revenue Analysis
7,630
7,4787,015
6,721
6,457
5,861
5,265
4,848
COLA 3.06 2.97 2.26 1 .41 4.17 3.87 2.00 0 2.41 4.23
Business Services September 8, 2005
8,245
*Enrollment Target = 8,800 FTES Dollar Values are in Millions Credit Full Time Equivalent Student (FTES)
8,445
• No student fee increase
• 4.23% Cost of Living Adjustment (COLA)
• 3% Growth; 1.73% Categorical Growth
• $30M Equalization
• $31.4M Partnership for Excellence Restored
• $10M Mandate Reimbursement
• $10M Nursing Programs
• $ 1M California Partnership for Achieving Student Success (CalPASS)
• $15.6M Property Tax Backfill
Mt. San Jacinto College 2005-06 Adopted Budget
Business Services, September 8, 2005
STATE BUDGET FOR CALIFORNIA COMMUNITY COLLEGES
CCC MSJCCost of Living Adjust (COLA) 4.23% $209,624,000 $ 1,445,000Student Access (Growth) 3% * 136,709,000 2,876,458Equalization 30,000,000 190,575PFE Restored 31,400,000 248,245Mandate Reimbursement 10,000,000 TBDNursing Programs (One Time) 10,000,000 TBDCalPASS Program 1,000,000 TBDProperty Tax Backfill (One Time) 15,600,000 TBDInstructional Equipment Block Grant 27,345,000 207,058
The 2005-06 State budget includes line item appropriations detailed above with direct fiscal impact on MSJC. The allocation mechanism for certain budget line items have not been disclosed and are to be determined (TBD) with distribution language. These will be treated as budget modifications during the fiscal year. * Full growth allocation is not included in the Adopted Budget.
IMPACT OF STATE BUDGET ACTIONS
Mt. San Jacinto College 2005-06 Adopted Budget
Business Services, September 8, 2005
BUDGETING PROCESS PLANNING ASSUMPTIONS
• Fiscal Stability is Highest Priority Prudent Reserve of 6.23%, or $2.5 million
• Resource Allocation Linked to Formal Planning: Education Plan, Master Plan, Facility Master Plan
• Budget Committee Recommendations: Compliance to 50% Law and Full-time Faculty Obligation Hire 5 FT faculty; 5 FT classified support staff Fund for enrollment growth and efficiency Restore cuts to conference, travel and consultant accounts Maintain program quality w/ instructional equipment
upgrades and student access center improvements Continue with preventive maintenance of physical plant
Mt. San Jacinto College 2005-06 Adopted Budget
Business Services, September 8, 2005
MAJOR FUNDING ISSUES
• Two major construction projects will require District matching funds: LRC Const/Equipment
$1.2 million Technology Building Const/Equipment
l.6 million
• Initial Reserves for GASB 43/45 and GASB 16 are reflected in the proposed adopted budget. Full reserve is required in fiscal 2008-09.
• Inflation to fuel, insurance and construction raw materials is anticipated.
• Maintaining physical plant will require resources.
• Chancellor’s Office financial data “second” revisions.
Mt. San Jacinto College 2005-06 Adopted Budget
Business Services, September 8, 2005
$0
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
$35,000,000
$40,000,000
$45,000,000
2001-2002Actual
2002-2003Actual
2003-2004Actual
2004-2005Actual
2005-2006A-Budget
Other Local
Other State
State Apportionment
Federal Revenues
Beginning Balance
MT. SAN JACINTO COMMUNITY COLLEGEGeneral Fund Unrestricted
AVAILABLE FUNDS
$0
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
$35,000,000
$40,000,000
$45,000,000
2001-2002Actual
2002-2003Actual
2003-2004Actual
2004-2005Actual
2005-2006A-Budget
Ending Balance
Capital Outlay/Other Outgo
Services
Supplies
Employee Benefits
Classified Salaries
Academic Salaries
MT. SAN JACINTO COMMUNITY COLLEGEGeneral Fund Unrestricted
ALLOCATION OF AVAILABLE FUNDS
Capital Outlay4%
Employee Benefits
17%
Supplies2%
Classified Salaries
23%
Academic Salaries
41%
Services13%
Mt. San Jacinto College2005-2006 Adopted Unrestricted General Fund Budget
EXPENDITURE TOTAL $40,421,476
Business Services September 8, 2005
Other48%
Federal0%
State52%
REVENUE TOTAL $41,393,497
Adopted 2005-2006
General Fund Reserve $ 500,000Board Special Reserve Designated $1,405,000 Undesignated $ 795,000Total $2,700,000
Business Services, September 8, 2005
MT. SAN JACINTO COMMUNITY COLLEGECATEGORICAL REVENUE COMPARISON
FY2003-2004 ACTUALS; FY2004-2005 ACTUALS; FY2005-2006 ADOPTED
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
2003-2004 Actuals 2004-2005 Actuals 2005-2006 Adopted
Federal Revenues
State Revenues
Local Revenues
2005-2006 STATE BUDGETMt. San Jacinto College 2005-06 Adopted Budget
Business Services, September 8, 2005
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
2003-2004Actuals
2003-2004GF
Support
2004-2005Actuals
2004-2005GF
Support
2005-2006Adopted
2005-2006GF
Support
General Fund Support
Federal Revenues
State Revenues
Local Revenues
County Contracts
Parent Fees
MT. SAN JACINTO COMMUNITY COLLEGECHILD CARE CENTERS REVENUE COMPARISON
FY2003-2004 ACTUALS; FY2004-2005 ACTUALS; FY2005-2006 ADOPTED
2005-2006 STATE BUDGETMt. San Jacinto College 2005-06 Adopted Budget
$-
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
FY2003-2004 FY2004-2005 FY2005-2006
Mt. San Jacinto Community College
BOOKSTORE Income and Expense Summary Comparison
FY 2003-2004 Actual, FY 2004-2005 Actual, FY 2005-2006 Adopted
Beginning Balance and Income
Expenditures
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
FY2003-2004 FY2004-2005 FY2005-2006
Mt. San Jacinto Community College
CAFETERIAIncome and Expense Summary Comparison
FY 2003-2004 Actual, FY 2004-005 Actual, FY 2005-2006 Adopted
Beginning Balance and Income
Expenditures
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
FY2003-2004 FY2004-2005 FY2005-2006
Mt. San Jacinto Community College
FOUNDATIONIncome and Expense Summary Comparison
FY 2003-2004 Actual, FY 2004-2005 Actual, FY 2005-2006 Adopted
Beginning Balance and Income
Expenditures
$5,600,000
$5,800,000
$6,000,000
$6,200,000
$6,400,000
$6,600,000
$6,800,000
$7,000,000
$7,200,000
$7,400,000
FY2003-2004 FY2004-2005 FY2005-2006
Mt. San Jacinto Community College
AWARD ACCOUNT Income and Expense Summary
FY 2003-2004 Actual, FY 2004-2005 Actual, FY 2005-2006 Adopted
Beginning Balance and Income
Expenditures
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
FY2003-2004 FY2004-2005 FY2005-2006
Mt. San Jacinto Community College
ASSOCIATED STUDENT BODYIncome and Expense Summary Comparison
FY 2003-2004 Actual, FY 2004-2005 Actual, FY 2005-2006 Adopted
Beginning Balance and Income
Expenditures
$-
$500
$1,000
$1,500
$2,000
$2,500
$3,000
$3,500
FY2003-2004 FY2004-2005 FY2005-2006
Mt. San Jacinto Community College
STUDENT REPRESENTATION FEEIncome and Expense Summary Comparison
FY 2003-2004 Actual, FY 2004-2005 Actual, FY 2005-2006 Adopted
Beginning Balance and Income
Expenditures
Learning Resource Center, MVC Construction $ 8,252,867Equipment 1,412,000Total $ 9,664,867
District match $ 1,200,000
Currently, the LRC construction is ahead of schedule and under budget. Estimated completion is March, 2006. Occupancy of the LRC will begin in April 2006.
CAPITAL OUTLAY PROJECTS
Business Services, September 8, 2005
Mt. San Jacinto College 2005-06 Adopted Budget
Technology Center, MVC Design $ 442,530Construction & Equip 10,775,000Total $11,217,530
Est. District match $ 1,600,000
The Technology Center bidding and construction dates will be set after DSA approval. Estimated start for construction is mid-Spring 2006 with a projected 14 month construction period. Estimated occupancy of the Technology Center is Fall 2007.
CAPITAL OUTLAY PROJECTS
Business Services, September 8, 2005
Mt. San Jacinto College 2005-06 Adopted Budget
CAPITAL OUTLAY • Sched Maintenance in ’06 $ 0• Sched Maint & match carryover 26,703• Hazardous Materials 212,220• Facility Improvements 302,065• Xerox Lease 500,000• Equipment Replacement 75,000• Lease Revenue Bond Pmt 467,498• MVC Modular Lease 30,709
State funds for scheduled maintenance continues to decrease. As a result, District expense for maintaining physical plant has increased.
APPROPRIATIONSMt. San Jacinto College 2005-06 Adopted Budget
Business Services, September 8, 2005
CAPITAL OUTLAY RESERVE
Funds on deposit with State Treasurer for land acquisition, MVC: $1,789,000
The Board authorized funds on deposit with the State Treasurer for land acquisition, MVC.
These funds are held with the State Treasurer. Accounting rules require disclosure of these funds on
District statements. For clarity, these funds will be accounted for in one fund and in one line item.
Although disclosed on District statements, funds are physically held with State Treasurer.
APPROPRIATIONSMt. San Jacinto College 2005-06 Adopted Budget
Business Services, September 8, 2005
LEASE REVENUE BOND(Board Resolution 2002/03-234)
Projects Funded by Lease Revenue Bond:
Property Acquisitions Phone Upgrade HP 9000 Upgrade Galaxy/One Source Financial Systems State Treasurer Deposit for MVC CIS Lab Upgrade
LEASE REVENUE BONDMt. San Jacinto College 2005-06 Adopted Budget
Business Services, September 8, 2005
LEASE REVENUE BOND $8,000,000
First Draw (April 27, 2004) 2,975,072 Second Draw (June 23, 2004) 600,089 Total 3,575,161
Interest Earned (thru June 30, 2005) 73,122
First Payment FY0304 (Funds 12 & 41) 467,498 Second Payment FY0405 (Funds 12 & 41) 462,509 Third Payment FY0506 (Fund 41 only) 467,498
LEASE REVENUE BONDMt. San Jacinto College 2005-06 Adopted Budget
Business Services, September 8, 2005
MSJC 2005-06 Adopted Budget REVENUE AND EXPENSE SUMMARY-ALL FUNDS
FUND NAME FUND# BEGINNING
BALANCE
REVENUE EXPENSE INTERFUND TRANSFER
RESERVE/ CARRYOVER
GENERAL FUND 11 $2,137,979 $41,393,497 $40,421,476 ($2,610,000) $500,000
SPECIAL RESERVE 11 2,000,000 -0- -0- 200,000 2,200,000
INSTR EQUIPMENT 12 736 305,474 305,474 -0- 736
PARKING FEES 12 205,345 417,500 517,340 -0- 105,505
RESTRICTED FUND 12 -0- 4,381,262 4,381,262 -0- -0-
CHILD CARE CTR 33 55,000 1,669,026 1,724,026 -0- -0-
CAPITAL OUTLAY 41 8,884,042 18,698,440 22,926,592 2,350,000 7,005,890
SELF INSURANCE 61 101,119 84,024 154,380 60,000 90,763
ASSOC STUDENT BODY 23,932 61,650 85,582 -0- -0-
AWARDS/TRUST FUNDS 55,524 7,192,918 7,194,246 -0- 54,196
STUDENT REP FEE 2,505 918 3,423 -0- -0-
FOUNDATION 3,481,647 710,147 643,584 -0- 3,548,210
BOOKSTORE 1,390,866 4,301,000 4,124,120 -0- 1,567,746
CAFETERIA -0- 585,550 585,550 -0- -0-
GRAND TOTAL $ 18,338,695 $79,801,406 $83,067,055 -0- $15,073,046
Business Services, September 8, 2005
FY 2005-2006 Adopted Budget Expenditures
Business Services, September 8, 2005
Expenditures$100,750,101
Contingency
Child Development
Awards/Student Rep/ASB
Self Insurance Fund
Foundation
Bookstore/Cafeteria
General Fund Unrestricted
Board Special Reserve
Capital Projects FundGeneral Fund Restricted
$13,668,046
13%
$1,724,026
2%
$1,405,000
1%
$4,709,670
5%
$643,584
1%
$7,283,251
7%
$154,380
0%
$22,926,592
23%$5,204,076
5%
$43,031,476
43%
RECOMMENDATION
The proposed Adopted Budget for fiscal year 2005-06 is recommended with the following:
• Enrollment target set at 8,800 credit and 360 non-credit FTES
• Adopted Budget based on 8,445 credit and 342 non-credit FTES
• Budget Base/Revenue Limit = $37,015,000• In compliance with statutory requirements of the
50 Percent Law and FT Faculty Obligation• 6.23% Contingency & Reserve = $2,700,000
Mt. San Jacinto College 2005-06 Adopted Budget
Business Services, September 8, 2005
QUESTIONS
Mt. San Jacinto College 2005-06 Adopted Budget
Business Services, September 8, 2005