1. Board Meeting Amended 2018-2019 Budget February 25, 2019

2. Relevant Board Policy 3100 Budget Adoption
Budget revisions will be presented for Board action as necessary, but not less than twice a year, in February and June.
Relevant Board Policy

3. Amended FY18-19 General Fund Budget
Revenues
Overall upward amendment to revenue is $2.86 million.
Tuition & Fees
State Appropriations
Grants & Other
($535,000); PPT stabilization and UAAL payments from State less than anticipated, offset by an increase in other state aid.
$807,000; enrollment & contact hours better than anticipated
$2.5 million; Jana Robinson Trust and grant performance funding.

4. Amended FY18-19 General Fund Budget
Expenditures
Overall upward amendment to expenses is $2.38 million.
Salaries & Fringe Benefits
Contracted Services
Operations & Communications
($653,000) net decrease; Reduction in salaries from open positions offset by increase in fringe benefits
$1 million; use of contracted services while conducting searches and an increase in professional fees
$1.8 million; Jana Robinson Trust transfer and WFD budgets (offset by revenue)

5. Amended FY18-19 General Fund Budget
Summary
17-18 Audited Actuals
18-19 Original Budget
18-19 Amended
Budget
Revenues
$ 76,357,514
$ 76,061,068
$ 78,925,328
Expenditures
76,037,501
75,811,068
78,191,710
Excess (Deficit) Revenues Over Expenditures
320,013
250,000
733,618
Budgeted Increase in Net Assets
Final Surplus
70,013 -
483,618
Net Assets Beginning
7,245,583
7,502,687
7,565,597
Net Assets Ending
7,565,596
7,752,687
8,299,215
Net Asset Percent
9.95%
10.23%
10.61%

6. Questions or Comments?
Larry Gawthrop, CFO
(810)