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 12/31 YTD Year over Year ◦ Financial Highlights ◦ Cash Position ◦ Cash Flow  Revenues: ◦ Budget vs. 12/31/13 YTD Actual Comparison ◦ 12/31 Revenue.

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Presentation on theme: " 12/31 YTD Year over Year ◦ Financial Highlights ◦ Cash Position ◦ Cash Flow  Revenues: ◦ Budget vs. 12/31/13 YTD Actual Comparison ◦ 12/31 Revenue."— Presentation transcript:

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2  12/31 YTD Year over Year ◦ Financial Highlights ◦ Cash Position ◦ Cash Flow  Revenues: ◦ Budget vs. 12/31/13 YTD Actual Comparison ◦ 12/31 Revenue Comparison ◦ 12/31 YTD Year over Year Revenue Breakdown Comparison  Expenditures: ◦ Budget vs. 12/31/13 YTD Actual Comparison ◦ 12/31 YTD Expenditure Comparison ◦ 12/31 YTD Year over Year Expenditure Breakdown Comparisons  Supplemental Information 10/15/13 2

3 12/31/12 12/31/13  Revenues $ 25.4M $26.5M  Expenses $ 23.1M $22.2M  Net $ 2.3M $ 4.3M Primary source of revenue is property tax which is received in December and April. 1/21/14 3

4 12/31/1212/31/13  Cash Balance $ 11.9M$13.1M  Borrowing n/a n/a  Cash inflow is revenues - our major source, property taxes, received primarily in December and April.  Cash outflow is expenses – about $4.0M per month  Borrowing provides operating cash until mid-December when property taxes are received. Borrowing from county on an as-needed basis. 1/21/14 4

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6  12/31 YTD Year over Year ◦ Financial Highlights ◦ Cash Position ◦ Cash Flow  Revenues: ◦ Budget vs. 12/31/13 YTD Actual Comparison ◦ 12/31 Revenue Comparison ◦ 12/31 YTD Year over Year Revenue Breakdown Comparison  Expenditures: ◦ Budget vs. 12/31/13 YTD Actual Comparison ◦ 12/31 YTD Expenditure Comparison ◦ 12/31 YTD Year over Year Expenditure Breakdown Comparisons  Supplemental Information 10/15/13 6

7  Received 55% of secured property taxes projected by county  May not meet budget for enrollment fee revenue for 2013/14  84% of local revenue compared to budget; primarily non-resident tuition and one-time items 1/21/14 7

8  2012/13 ◦ $44.8M budgeted ◦ $25.4M actual YTD ◦ 56.7% of budget  2013/14 ◦ $46.8M budgeted ◦ $26.5M actual YTD ◦ 56.6% of budget  YTD revenue primarily from property taxes and enrollment fees 1/21/14 8

9  55% of secured property taxes projected by county received in December  Decline in enrollment fee revenue consistent with decline in FTES  Increase in State revenue due to Prop 30  Increase in local revenue due to one-time items 1/21/14 9

10  12/31 YTD Year over Year ◦ Financial Highlights ◦ Cash Position ◦ Cash Flow  Revenues: ◦ Budget vs. 12/31/13 YTD Actual Comparison ◦ 12/31 Revenue Comparison ◦ 12/31 YTD Year over Year Revenue Breakdown Comparison  Expenditures: ◦ Budget vs. 12/31/13 YTD Actual Comparison ◦ 12/31 YTD Expenditure Comparison ◦ 12/31 YTD Year over Year Expenditure Breakdown Comparisons  Supplemental Information 10/15/13 10

11  Salaries at 47.3% of budget compared to 50.8% last year  Benefit increase higher than planned for Kaiser – 15% vs. 12%  Delay in filling vacant positions helps reduce salary and benefit costs  Other expenditures on track 1/21/14 11

12  2012/13 ◦ $46.9M budgeted ◦ $23.1M actual YTD ◦ 49.3% of budget  2013/14 ◦ $47.6M budgeted ◦ $22.2M actual YTD ◦ 46.6% of budget  Expenditures are incurred relatively evenly throughout the year 1/21/14 12

13  92% of expenses are fixed: ◦ 59% salaries ◦ 27% benefits ◦ 6% utilities, insurance, audit, legal, election  8% of expenses are discretionary 1/21/14 13

14  12/31 YTD Year over Year ◦ Financial Highlights ◦ Cash Position ◦ Cash Flow  Revenues: ◦ Budget vs. 12/31/13 YTD Actual Comparison ◦ 12/31 Revenue Comparison ◦ 12/31 YTD Year over Year Revenue Breakdown Comparison  Expenditures: ◦ Budget vs. 12/31/13 YTD Actual Comparison ◦ 12/31 YTD Expenditure Comparison ◦ 12/31 YTD Year over Year Expenditure Breakdown Comparisons  Supplemental Information 10/15/13 14

15 SUPPLEMENTAL INFORMATION 1/21/14 15

16 1/21/14 16 ADOPTION 12/31/12 YTD 12/31/12 % ADOPTION 12/31/13 YTD 12/31/13 % BUDGET ACTUAL BUDGET ACTUAL BUDGET 2012-13 2013-14 SOURCES OF FUNDS BEGINNING FUND BALANCE $ 5,141,778 $ 3,959,503 REVENUES PROGRAM-BASED FUNDING 42,659,428 24,351,12257.1% 44,307,028 25,136,10856.7% FEDERAL 250 16164.4% 1,000 -0.0% OTHER STATE 868,731 226,71926.1% 1,392,760 414,76029.8% OTHER LOCAL 1,230,000 820,46466.7% 1,102,972 929,39284.3% TOTAL REVENUES 44,758,409 25,398,46656.7% 46,803,760 26,480,26056.6% TOTAL SOURCES 49,900,187 30,540,244 50,763,263 30,439,763 USE OF FUNDS SALARIES 28,294,473 14,380,86250.8% 27,993,676 13,240,79047.3% BENEFITS 12,349,656 5,722,02246.3% 12,632,638 5,771,34645.7% TOTAL SALARIES & BENEFITS 40,644,129 20,102,88449.5% 40,626,314 19,012,13646.8% FIXED EXPENSES 2,342,000 1,094,89846.8% 2,439,230 934,80338.3% OTHER OPERATING 3,153,979 1,412,43844.8% 3,510,873 1,834,70352.3% CAPITAL OUTLAY 226,287 146,25264.6% 358,181 83,86923.4% OTHER OUTGO 549,875 356,54064.8% 711,130 333,44446.9% TOTAL OTHER EXPENSES 6,272,141 3,010,12848.0% 7,019,414 3,186,81945.4% TOTAL USES 46,916,270 23,113,01249.3% 47,645,728 22,198,95546.6% ENDING FUND BALANCE $ 2,983,917 $ 7,427,232 $ 3,117,535 $ 8,240,808

17 1/21/14 17 ADOPTION 12/31/12 YTD 12/31/12 % ADOPTION 12/31/13 YTD 12/31/13 % BUDGET ACTUAL BUDGET ACTUAL BUDGET 2012-13 2013-14 PROGRAM-BASED FUNDING STATE SUBVENTIONS $ 268,463 $ 42,71415.9% $ 265,241 $ 42,94116.2% TOTAL 268,463 42,71415.9% 265,241 42,94116.2% PROPERTY TAXES SECURED 38,771,425 21,207,90754.7% 39,960,865 22,052,22355.2% SUPPLEMENTAL 415,000 88,91821.4% 623,491 211,75134.0% UNSECURED 904,540 795,41487.9% 911,147 813,77589.3% PRIOR-YEAR 40,000 46,489116.2% 71,284 39,63055.6% TOTAL TAXES 40,130,965 22,138,72855.2% 41,566,787 23,117,37955.6% ENROLLMENT FEES 2,260,000 2,169,68096.0% 2,475,000 1,975,78879.8% TOTAL PROGRAM-BASED42,659,42824,351,12257.1%44,307,02825,136,10856.7% FEDERAL REVENUE 250 16164.4% 1,000 -0.0% STATE REVENUE PARTNERSHIP FOR EXCELL - -n/a - - OTHER STATE 868,731 226,71926.1% 1,392,760 414,76029.8% TOTAL STATE 868,731 226,71926.1% 1,392,760 414,76029.8% LOCAL REVENUE INTEREST 10,000 2,01220.1% 3,000 94331.4% NON-RESIDENCE FEES 850,000 637,01574.9% 777,656 688,44988.5% OTHER STUDENT CHARGES 75,000 28,06037.4% 72,716 34,17247.0% NON-RESIDENCE INSURANCE 55,000 39,00870.9% 57,600 39,36268.3% MISCELLANEOUS 240,000 114,36947.7% 192,000 166,46686.7% 1,230,000 820,46466.7% 1,102,972 929,39284.3% TOTAL REVENUE $ 44,758,409 $ 25,398,46656.7% $ 46,803,760 $26,480,26056.6%

18 1/21/14 18 ADOPTION 12/31/12 YTD 12/31/12 % ADOPTION 12/31/13 YTD 12/31/13 % BUDGET ACTUAL BUDGET ACTUAL BUDGET 2012-13 2013-14 USE OF FUNDS SALARIES $ 28,294,473 $ 14,380,86250.8% $ 27,993,676 $13,240,79047.3% BENEFITS 12,349,656 5,722,02246.3% 12,632,638 5,771,34645.7% TOTAL SALARIES & BENEFITS 40,644,129 20,102,88449.5% 40,626,314 19,012,13646.8% FIXED EXPENSES 2,342,000 $ 1,094,89846.8% 2,439,230 $ 934,80338.3% OTHER OPERATING 3,153,979 1,412,43844.8% 3,510,873 1,834,70352.3% CAPITAL OUTLAY 226,287 146,25264.6% 358,181 83,86923.4% OTHER OUTGO 549,875 356,54064.8% 711,130 333,44446.9% TOTAL OTHER EXPENSES 6,272,141 3,010,12848.0% 7,019,414 3,186,81945.4% TOTAL USES $ 46,916,270 $ 23,113,01249.3% $ 47,645,728 $22,198,95546.6%

19 1/21/14 19 ADOPTION 12/31/12 YTD 12/31/12 % ADOPTION 12/31/13 YTD 12/31/13 % BUDGET ACTUAL BUDGET ACTUAL BUDGET 2012-13 2013-14 SALARIES FACULTY INSTRUCTORS-REGULAR $ 9,141,654 $ 4,121,03445.1% $ 8,671,401 $ 3,367,05638.8% INSTRUCTORS-HOURLY 5,076,713 3,424,37167.5% 5,330,614 3,493,62365.5% NON-INSTRUCTORS-REGULAR 1,294,731 553,80442.8% 1,207,968 498,46141.3% NON-INSTRUCTORS-HOURLY 412,594 392,83695.2% 371,582 321,99686.7% FACULTY 15,925,692 8,492,04553.3% 15,581,565 7,681,13649.3% CLASSIFIED STAFF - REGULAR 8,236,620 3,798,15946.1% 8,015,554 3,647,04645.5% INSTRUCTIONAL - REGULAR 1,056,162 489,94046.4% 988,556 463,23246.9% HOURLY INST./NON INST. 496,900 325,02665.4% 834,831 336,48240.3% OVERTIME 113,460 56,30049.6% 145,485 60,95341.9% CLASSIFIED 9,903,142 4,669,42547.2% 9,984,426 4,507,71345.1% ADMINISTRATORS ACADEMIC 1,931,966 911,04547.2% 1,595,142 704,87944.2% CLASSIFIED 533,673 308,34757.8% 832,543 347,06241.7% ADMINISTRATORS 2,465,639 1,219,39249.5% 2,427,685 1,051,94143.3% TOTAL SALARIES $28,294,473 $14,380,86250.8% $27,993,676 $ 13,240,79047.3%

20 1/21/14 20 ADOPTION 12/31/12 YTD 12/31/12 % ADOPTION 12/31/13 YTD 12/31/13 % BUDGET ACTUAL BUDGET ACTUAL BUDGET 2012-13 2013-14 PUBLIC RETIREMENT STRS $ 1,317,706 $ 700,72953.2% $ 1,334,400 $ 618,71546.4% PERS 1,922,148 900,79246.9% 1,913,780 883,50446.2% FICA 736,515 332,96645.2% 732,786 336,99146.0% MEDICARE 379,146 193,99151.2% 405,910 186,84746.0% UNEMPLOYMENT 452,324 170,89837.8% 73,997 24,82433.5% WORKERS COMP. INS. 350,851 179,69251.2% 416,406 164,60639.5% OTHER - SERP - 414,119 374,40990.4% TOTAL 5,158,690 2,479,06848.1% 5,291,398 2,589,89648.9% HEALTH PROTECTION MEDICAL 7,190,966 3,242,95445.1% 7,341,240 3,181,45043.3% TOTAL 7,190,966 3,242,95445.1% 7,341,240 3,181,45043.3% TOTAL BENEFITS $ 12,349,656 $ 5,722,02246.3% $ 12,632,638 $ 5,771,34645.7%

21 1/21/14 21 ADOPTION 12/31/12 YTD 12/31/12 % ADOPTION 12/31/13 YTD 12/31/13 % BUDGET ACTUAL BUDGET ACTUAL BUDGET 2012-13 2013-14 FIXED EXPENSES UTILITIES SEWER SERVICE $ 80,000 $ 70,92188.7% $ 98,230 $ 64,62965.8% TELEPHONE 120,000 47,20739.3% 108,000 47,05943.6% WATER 126,000 77,13361.2% 170,000 84,25149.6% GAS & ELECTRICITY 1,516,000 475,51931.4% 1,516,000 525,05334.6% PEST CONTROL 80,000 27,25834.1% 74,000 36,86749.8% 1,922,000 698,03836.3% 1,966,230 757,85938.5% INSURANCE 420,000 396,86094.5% 473,000 176,94437.4% TOTAL $2,342,000 $ 1,094,89846.8% $ 2,439,230 $ 934,80338.3%

22 1/21/14 22 ADOPTION 12/31/12 YTD 12/31/12 % ADOPTION 12/31/13 YTD 12/31/13 % BUDGET ACTUAL BUDGET ACTUAL BUDGET 2012-13 2013-14 OTHER OPERATING EXPENSES SUPPLIES & MATERIALS $ 579,318 $ 251,35843.4% $ 600,900 $ 260,44943.3% PERSONAL SVCE, LECTURE 84,166 31,60537.6% 100,000 34,04634.0% TRAVEL & CONFERENCE 125,475 69,48355.4% 144,162 46,55932.3% DUES & MEMBERSHIP 104,525 59,65557.1% 100,000 80,91280.9% LEGAL 150,000 120,82880.6% 150,000 402,543268.4% AUDITS & ELECTION 92,500 75,50081.6% 301,750 78,75026.1% CONTRACTED SERVICES 1,504,860 492,60332.7% 1,302,977 730,56456.1% POSTAGE 75,413 22,67030.1% 90,000 38,01142.2% PRINTING & PUBLICATION 95,055 39,37041.4% 85,000 41,96449.4% RENTAL & LEASES 41,378 10,29524.9% 50,000 8,45016.9% RECRUITMENT 154,110 76,34449.5% 190,000 75,96140.0% OTHER DISTRICT-WIDE EXP. 142,666 160,539112.5% 388,334 34,2788.8% MISCELLANEOUS 4,513 2,18848.5% 7,750 2,21628.6% TOTAL $3,153,979 $ 1,412,43844.8% $ 3,510,873 $ 1,834,70352.3%

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