Administrative Affairs

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Presentation transcript:

Administrative Affairs Financial State of the College Division of Financial & Administrative Affairs February 19, 2009

Current Financial Position Expected Challenges Available Options Q & A Agenda Current Financial Position Expected Challenges Available Options Q & A 11/24/2018

Current Financial Position 11/24/2018

Revenue Sources Source Dollars FY07/08 % FY07/08 Dollars FY08/09 Appropriations $13,146,800 53% Tuition $10,329,648 42% Other $ 1,182,272 5% Total $24,658,720 100% Dollars FY08/09 % FY08/09 $12,526,000 52% $10,813,600 44% $969,100 4% $24,308,700 100% 11/24/2018

Factors Affecting Revenue Appropriation Reduction of 2.6% or $334,000 Reversion of 3.4% or $442,000 Total Reductions = $776,200 11/24/2018

Factors Continued Tuition Increase of 6% or $584,000 Excess revenue over expenses $224,000 Made budget reduction of 7% or $217,300 across the board. 11/24/2018

Recurring Revenues & Expenses Recurring Unrestricted Revenue 24,308,700 Recurring Expenses (23,996,700) Difference $ 312,000 11/24/2018

Projected Budget Cuts for 09/10 Two Scenarios Appropriations % Budget Cut Dollar Budget Cut $12,836,100 7% $898,500 15% $1,925,400 11/24/2018

Allocation of Funds Per Revised Budget FY2008-2009 Salaries $ 2008/2009 2008/2009 % of Total E & G Administration/ Pro-Tech 3,474,981 15% Academic 7,388,933 31% Clerical Support 2,740,909 11% Students 215,077 1% Total Salaries 13,819,900 58% Total Benefits 5,114,102 21% Operating/ Travel/Equip 5,055,700 $23,989,702 100% JSCC Salaries/Benefits Combined 79% of Total Budget 08/09 11/24/2018

Operating & Travel Total Expenses $5,000,000 Protected Expenses ($2,000,000) Available Operating & Travel $3,000,000 Protected Expenses Include: Scholarships Utilities Technology Fees Credit Cards Fees Matching Grant Expense Nursing Exam Expense TBR Charges Liability & Property Insurance 11/24/2018

Expected Challenges Budget Cuts Lack of Funds 11/24/2018

HOW TO ADDRESS FUTURE BUDGET CUTS Challenges HOW TO ADDRESS FUTURE BUDGET CUTS % Cut $ Cut 3.4% Reversion Subtotal Revenue Available Final Revenue Needed 7% $898,527 $ (442,200) $456,327 $ (312,000) $ 144,327 15% 1,925,415 $1,483,215 $ (312,000) $1,171,215 11/24/2018

Available Options ? 11/24/2018

OPTIONS TO INCREASE REVENUE REMOVE CAP = $660,000 TUITION INCREASE OF 7%= $681,000 IF 15% CUT IS REQUIRED -INCREASE FTE BY 16% 457 FTE 3298 Fall 09 FTE -Cut Salary & Benefits by $1,171,215 Budget allocation changes from 78.93% to 77.84 11/24/2018

Questions & Answers 11/24/2018