Redwoods Community College District

Redwoods Community College District
Vice President, Chief Business Officer
October 9, 2006
This was the first meeting of the fiscal year. The meeting agenda was designed to bring
committee members up to date on the fiscal year 2006-07 budget and to begin integrating longrange planning into the budget development process.
Ron Cox, Trish Blair, Helen Edwards, Chris Gaines, Leslie Haddock,
David Harris, Tricia Hawkins, Ken Magnuson, John McBrearty
Rodney Kaloostian, Sydney Larson, Jean Lawry, Scott Thomason
Review of FAC
A review of the purpose, function, and operation of the committee was
discussed including:
 Communication with constituencies represented by each member
 Majority vote as advisory to the Vice President
 Input to College Council and the Board
Committee members were encouraged to bring budget questions to
the meeting for discussion or additional research by staff.
Financial Overview
A financial overview was presented to committee members last fiscal
year as a PowerPoint presentation. Staff updated certain slides to reflect
the 2006-07 adopted budget as presented to the Board at their retreat in
September. The updated slides were reviewed by the committee with
the following request for discussion at a future meeting:
 Additional FTES data including comparative numbers for peer
institutions and state-wide for all colleges
 Structural imbalance of ongoing revenues and expenditures
 Self-assessment of financial condition
Adopted Budget
The adopted budget booklet was distributed and reviewed. The
following points were noted:
 President’s Message – Jeff discusses the new state allocation
formula and the decline in our student enrollments/state
revenue/district reserves. The priority for the year is to rebuild
the reserves.
 2006-07 State Budget Act – With stronger than expected
personal income tax revenues in 2005-06, the state was able to
provide CCC with one-time apportionments totaling $298.3M
and augmentations totaling $666.7M. However, the Legislative
Analyst’s Office is projecting future annual budget shortfalls due
October 9, 2006
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to the continuing structural imbalance of tax revenues and
projected expenditures.
 District Revenues – The district budget projects an additional
$3.3M in unrestricted revenue for 2006-07.
Financial Planning
and 12-Month
Action Plan
The district’s March 2006 response to the accrediting commission’s
recommendations included a 12-month action plan for a long range
financial planning process. Steps 1-5 on the plan have been completed.
Step 6 will require modifications to the annual budget assumptions to be
developed at future meetings of the committee. Staff will begin to bring
data, as requested, to the committee meetings for analysis.