COCONINO COMMUNITY COLLEGE BUDGETING 101 History & Evolution of CCC Financial Overview Revenue Sources Expenditures Coconino Community College Fall 2013 Budgeting 101
COCONINO COMMUNITY COLLEGE BUDGETING 101 History & Evolution of Coconino Community College Fall 2013 Budgeting 101
CCC HISTORY & EVOLUTION In 2011, a comprehensive list of key events of our 20 year history was compiled. Here are just a few key points that relate to the College’s financial history. Coconino Community College Fall 2013 Budgeting 101
CCC HISTORY & EVOLUTION Voters approve the levy of a property tax to raise $2.2 million to fund and operate a community college. “College without walls” is the concept that the tax levy was based upon. In addition, it was thought that the College may some day serve a maximum of 1,000 student. When the College opened its doors, it served a 1,000 students the first year. Coconino Community College Fall 2013 Budgeting 101
CCC HISTORY & EVOLUTION CCC Foundation purchases Fourth Street building after the District Governing Board determined that the College had grown out of the College without walls concept Voters pass $25 million bond election for the construction of the Flagstaff Lone Tree Campus and District Offices, distance Learning Technology, and Completion of a Page Campus Coconino Community College Fall 2013 Budgeting 101
CCC HISTORY & EVOLUTION Page and Lone Tree campuses and the Williams facility are built with bond money from 1997 decision CCC asks voters for an override – Override fails approximately 42%-yes to 58%- no – State aid begins to be reduced, tuition rises. Coconino Community College Fall 2013 Budgeting 101
CCC HISTORY & EVOLUTION CCC2NAU agreement signed by President’s Bornstein and Haeger, on its way to becoming a national model CCC implements collaborative problem solving with NAU: CCC2NAU, library merger, reverse transfer, faculty sharing and other collaborative efforts benefitting both institutions. Coconino Community College Fall 2013 Budgeting 101
COCONINO COMMUNITY COLLEGE BUDGETING 101 Financial Overview & Projections Coconino Community College Fall 2013 Budgeting 101
Coconino Community College Fall 2013 Budgeting 101 FY 2012 Percent of AmountTotal General Fund $ 17,270, % Auxiliary funds 27,9590.1% Restricted Funds 6,998, % Unexpended Plant Funds 205,3900.8% Retirement of Indebtedness 2,017,4517.6% $ 26,520, % Breakdown of Restricted Funds Pell $ 4,920, % Other scholarships 155,9050.6% Grants 1,921, % $ 6,998, %
Coconino Community College Fall 2013 Budgeting 101 FY 2012 Revenues by SourcePercent of AmountTotal Operating revenues Tuition and fees $ 7,969, % Private contracts 404,4971.5% Bookstore income 118,1410.4% Auxiliary enterprises 27,9590.1% Other operating revenues 192,9510.7% Total operating revenues 8,712, % Nonoperating revenues Property taxes 8,623, % State appropriations 1,836,0006.9% Government grants 6,595, % Share of state sales taxes 385,5121.5% Investment earnings 267,3911.0% Other nonoperating revenues 98,9740.4% Total nonoperating revenues 17,807, % Total revenues $ 26,520, %
Coconino Community College Fall 2013 Budgeting 101 FY 2012 Revenues by SourcePercent of AmountTotal Operating revenues Tuition and fees $ 7,765, % Private contracts 368,6602.1% Bookstore income 118,1410.7% Other operating revenues 192,9511.1% Total operating revenues 8,444, % Nonoperating revenues Property taxes 6,624, % State appropriations 1,836, % Government grants 16,8720.1% Investment earnings 267,3911.5% Other nonoperating revenues 80,8600.5% Total nonoperating revenues 8,825, % Total revenues $ 17,270, %
COCONINO COMMUNITY COLLEGE BUDGETING 101 Revenues State Aid Tuition & Fees Property Taxes Coconino Community College Fall 2013 Budgeting 101
Coconino Community College Fall 2013 Budgeting 101
Coconino Community College Fall 2013 Budgeting 101
Coconino Community College Fall 2013 Budgeting 101
Coconino Community College Fall 2013 Budgeting 101
COCONINO COMMUNITY COLLEGE BUDGETING 101 Revenues State Aid Tuition & Fees Property Taxes Coconino Community College Fall 2013 Budgeting 101
Coconino Community College Fall 2013 Budgeting 101
Coconino Community College Fall 2013 Budgeting 101
COCONINO COMMUNITY COLLEGE BUDGETING 101 Revenues State Aid Tuition & Fees Property Taxes Coconino Community College Fall 2013 Budgeting 101
Coconino Community College Fall 2013 Budgeting 101
Coconino Community College Fall 2013 Budgeting 101
Coconino Community College Fall 2013 Budgeting 101
Coconino Community College Fall 2013 Budgeting 101
COCONINO COMMUNITY COLLEGE BUDGETING 101 Revenues State Aid Tuition & Fees Property Taxes Coconino Community College Fall 2013 Budgeting 101
Coconino Community College Fall 2013 Budgeting 101
Coconino Community College Fall 2013 Budgeting 101
COCONINO COMMUNITY COLLEGE BUDGETING 101 Expenditures Coconino Community College Fall 2013 Budgeting 101
Coconino Community College Fall 2013 Budgeting 101 FY 2012 Percent of AmountTotal General Fund $ 15,499, % Auxiliary funds 38,7150.2% Restricted Funds 6,785, % Unexpended Plant Funds 1,385,6865.4% Retirement of Indebtedness 1,986,9307.7% $ 25,696, %
Coconino Community College Fall 2013 Budgeting 101 FY 2012 Expenses by FunctionPercent of AmountTotal Operating expenses Education and general: Instruction $ 7,288, % Public service 290,1571.2% Academic support 1,806,6647.5% Student services 1,997,4628.3% Institutional support 4,199, % Operation and maintenance of plant 1,626,5596.7% Scholarships 5,259, % Auxiliary enterprises 38,7150.2% Depreciation 1,175,6344.8% Total operating expenses 23,682, % Nonoperating expenses Interest expense on debt 462,0381.9% Loss on disposal of capital assets 27,0300.1% Total nonoperating expenses 489,0682.0% Total expenses $ 24,171, %
Coconino Community College Fall 2013 Budgeting 101
Coconino Community College Fall 2013 Budgeting 101 Expenses by NaturalFY 2012 Classification Percent of AmountTotal Operating expenses Compensation and benefits 12,758, % Contract services 1,985,6198.2% Supplies and other services 899,2273.7% Annual fixed charges 799,9643.3% Communication and utilities 552,5912.3% Travel 172,8650.7% Scholarships 5,273, % Depreciation 1,175,6344.8% Other 64,7910.3% Total operating expenses 23,682, % Nonoperating expenses Interest expense on debt 462,0381.9% Loss on disposal of capital assets 27,0300.1% Total nonoperating expenses 489,0682.0% Total expenses $ 24,171, %
Coconino Community College Fall 2013 Budgeting 101
Coconino Community College Fall 2013 Budgeting 101 Expenses by NaturalFY 2012 ClassificationPercent of AmountTotal Operating expenses Compensation and benefits11,451, % Contract services 1,835, % Supplies and other services 569,4933.7% Annual fixed charges 747,4964.8% Communication and utilities 550,6533.6% Travel 124,1140.8% Scholarships 173,4231.1% Other 47,4370.3% Total operating expenses$15,499, % Nonoperating expenses Interest expense on debt0.0% Loss on disposal of capital assets0.0% Total nonoperating expenses -0.0% Total expenses $ 15,499, %
Coconino Community College Fall 2013 Budgeting 101
COCONINO COMMUNITY COLLEGE BUDGETING 101 Thank You Questions? Coconino Community College Fall 2013 Budgeting 101