1. Proposed Budget
Budget Hearing
August 15, 2016

2. Sources of Revenue Comparison

3. Highlights of the Proposed 2016-2017 Budget
Revenue Assumptions
State Revenue
No change in rate FY17, as this is the second year of the biennium
Tuition and Fees
Net Tuition and fees, waivers, exemptions and bad debt increased by $2.1 million
Total budgeted increase in tuition and fees is $4.9 million
Decreased by $0.6 million with the elimination of helicopter fees of $750k, reduction in flight fees of $295k, and a net increase to actuals of $426k
Increased $4.5m due to increase in tuition rates of $3 in-district; $6 out-district; $11 out-state/foreign per SCH, addition of a course fee addition of $2 - $7 per SCH, and the general service fee increase of $10 per semester
Increased net tuition and fees by $1.0 million for projected enrollment growth of 1.8% over current year offset by a proportional increases in exemptions, waivers and bad debt.
Increased waivers and exemptions by $1.3 million for current year estimates, rate and enrollment increase, and the dual credit waiver increase from 70% to 75%.
Increased bad debt by $1.6 million due primarily for the current year estimate.

4. Highlights of the Proposed 2016-2017 Budget
Revenue Assumptions
Property Tax Revenue budgeted using same M&O rate as FY 16 and an increase in the debt service rate for FY 17
Preliminary estimated increase to TAV of 3.21%
Increase in debt service rate for $150 million voter approved bond issuance
$4.0 million expected increase in M&O tax revenue
Interest Income decrease of $494,000

5. Revenue Sources
FY 2017
FY 2016

6. Expense Comparison

7. Highlights of the Proposed 2016-2017 Budget
Major Expense Assumptions
Reduction of 2% in unrestricted budgets excluding have to items, i.e., benefits, utilities, software agreements, and credit card fees. Reduction in expense projections for pass-through fees for pilot and helicopter flight school courses. Provide adequate funding for expenditures exceeding budget, i.e., interpreting services, commencement, scholarships, and institutional memberships. Compensation pool for merit increases. Restore funding for reserved unexpended salaries.

8. Highlights of the Proposed 2016-2017 Budget
Expense Assumptions
Instructional budget increased $1.0 million
Increased by $2.1 million:
$1.9 million net increase in full and part-time salaries
$265k increase in Maritime instructional activity
Decreased by $1.1 million:
$295k reduction in flight training services
$750k reduction in helicopter flight training services
$130k reductions to operating accounts
Continuing & Professional Development decrease of $15k

9. Highlights of the Proposed 2016-2017 Budget
Expense Assumptions
Academic Support budget increase $60k
Increased by $260k:
$200k net increase in full and part-time salaries
$60k increase for Blackboard & library shared services
Decreased by $200k:
$200k in reductions as part of 2% reductions to overall budget
Student Services budget increased by $1.9 million
Increased by $2.1 million:
$1.35 million budget established for interpreting services
$690k net increase in full and part-time salaries
$45k budget established for Clery, Title IV, and VAMA (CTV) and software

10. Highlights of the Proposed 2016-2017 Budget
Expense Assumptions
Institutional Support increased by $1.8 million
Increased by $1.2 million:
$875k net increase in full and part-time salaries
$122k increase in college-wide commencement budget
$111k increase in cash match
$67k increase in technology agreements
$42k increase to institutional memberships
$32k increase in service awards & employee recognition
$16k increase to fire alarm service agreement and monitoring
Decreased by $300k:
$300k in reductions as part of 2% reductions to overall budget
Transfers Out - Increased by $895k:
$895k increase in ‘transfers out’ to auxiliary services

11. Highlights of the Proposed 2016-2017 Budget
Expense Assumptions
Auxiliary Services decreased by $210k
Increased by $1.035 million:
$895k increase in scholarships
$70k net increase in full-time salaries
$70k increase in institutional activity
Decreased by $350k:
$255k decrease in golf course operations
$65k decrease in auxiliary benefits
$30k in reductions as part of 2% reductions to overall budget
Transfers In - Increased by $895k:
$895k increase in ‘transfers in’ from unrestricted institutional support

12. Highlights of the Proposed 2016-2017 Budget
Expense Assumptions
Operation and Maintenance increased by $195k
$195k net increase in full-time salaries
Compensation Pool
$2.4 million for merit increases
Depreciation
$20.3 million increase of $761k

13. Expense Comparison
FY 2017
FY 2016

14. Budget by Manager

15. Next Steps
Approve budget on or before
Adopt tax rate in September/October