1. Diane Brady, Fiscal Policy Specialist College Finance and Facilities Planning Division

2.   Signed by Governor June 30, 2011  Passed exclusively with Democratic votes  On-time budget ~ very rare for California 2011-12 Budget

3.   Total General Fund expenditures = $86 Billion  General Fund spending at lowest level since 1972 when measured as a share of the state’s economy. How It Was Accomplished

4.   In January, Budget gap was estimated at $26.6 billion  The gap was closed through a combination of spending cuts, funding shifts, borrowing and an assumption of major revenue gains How It Was Accomplished

5.   Budget cuts of $11.1 billion  Revenue adjustments of $11.8 billion  Borrowing and funding shifts $2.9 billion  New revenue changes $1 billion Multiple Budget “Solutions”

6.   $400 million base cut to apportionments  Student fee increases from $26 to $36, to total $110 million  Net $290 million workload reduction Community Colleges Budget

7.   New $129 million payment deferral  $961 million total deferrals  Represents more than 20% of General Fund dollars  No COLA  Last COLA was 2007-08  Cumulative lost COLA totals 10.88% Community Colleges Budget

8.   General Apportionment Revenues  $5.5 Billion  Categorical Revenues  $447 million Community Colleges Budget

9.   State General Fund $3.1 Billion (57%)  Local Property Taxes $1.9 Billion (35%)  Student Fees*$456 Million (8%) General Apportionment Revenue

10.   Categorical funding remains at the level established in the 2009-10 State Budget and continued in 2010-11  For flexibility programs, funding levels remain locked in at the 2009-10 level.  The exception is for funds provided for statewide/regional projects under Economic and Workforce Development and Transfer Categorical Funding

11.   $129 million in new inter-year deferrals  $832 million in continuing inter-year deferrals – funds deferred from January through June 2012– now $961 million total  $300 million in intra-year deferrals - $200 million deferred from July to October and $100 million from March to May. New Deferrals for 2011-12

12.   $9.5 million for current-year mandate claims  2 new mandates suspended in the current year Mandated Programs

13.  Tier 1:  Community College reduction of $30 million plus another $10 per unit fee increase, to $46 Tier 2:  Community College reduction of an additional $72 million Budget Triggers & Possible Mid-Year Cuts

14.   Redevelopment Agencies $1.7 billion  Medi-Cal$1.3 billion  “Amazon tax”$200 million  Others include the rural homeowners fire fee What Could Possibly Go Wrong?

15.   www.cccco.edu www.cccco.edu  Budget Information Posted on Website:  http://www.cccco.edu/ChancellorsOffice/Divisions/FinanceFacilities/Fis calServices/Budget/ http://www.cccco.edu/ChancellorsOffice/Divisions/FinanceFacilities/Fis calServices/Budget/  Apportionment Information Posted on Website: http://www.cccco.edu/ChancellorsOffice/Divisions/FinanceFacilities/Fis calServices/AllocationsSection/ApportionmentReports/  Diane Brady email ~ dbrady@cccco.edu Chancellor’s Office Website