2014-15
FINAL BUDGET
Cabrillo Community College District
September 8, 2014
June 16, 2014
Dear Victoria,
Last night, both houses of the
Legislature approved the state budget
and the implementing trailer bills. The
governor is expected to approve the
budget, although changes via line-item
vetoes are likely. However, we have
high confidence in the community
college budget as adopted.
The budget for community colleges
was as described last week, which I
repeat below.
We are reviewing the trailer bills,
which were largely made public last night.
The package includes the phased-in "fix" for the State Teachers Retirement System, although
uses a slower phase-in for contributions proposed by the Legislature, and requires STRS to
report on periodically on the need for actuarial adjustments:
Proposed STRS Contribution Rates
Adopted Budget
Employee Employee
Employer (pre-2013 (post-2013 State
hire date) hire date)
2013-14
8.25%
8%
8 3.04%
2014-15
8.63
8.15
8.15
3.45
2015-16
10.48
9.20
8.56
4.89
2016-17
12.33
10.25
9.205
6.33
2017-18
14.18
10.25
9.205
6.33
2018-19
16.03
10.25
9.205
6.33
2019-20
17.88
10.25
9.205
6.33
2020-21
18.85
10.25
9.205
6.33
The plan allows CalSTRS to annually adjust the state employer rate beginning July 1, 2021, and
caps any annual such increase at 1% for employers and 0.5% for the state.
2014-15 State Budget for Community Colleges
Item
2013-14 2014-15
(amounts in 000s) Enacted January
2014-15
May
Revision
2014-15
Passed by
Legislature
Note
Ongoing Funds
0.85%
General
0.85% apportionment
only
2.75%
General
2.75% apportionment
only
Student Success and
$99,183 $199,183
Support Program
$199,183
$199,183
Variable
match (3
local:1 state
on $99.2
million, 2:1
on $100
million)
Student Success and
Support Program Equity
$0 $100,000
$100,000
$70,000
Disabled Students
Programs and
Services
$84,223 $84,223
$84,223
$114,223
Extended
Opportunity
Programs and
Services
$88,605 $88,605
$88,605
$88,605
Economic and
Workforce
Development
$22,929 $22,929
$22,929
$22,929
Student Financial
Aid Administration
$67,537 $67,896
$67,896
$67,896
CalWORKs
$35,545 $35,545
$35,545
$35,545
Part-time Faculty
Compensation
$24,907 $24,907
$24,907
$24,907
Basic Skills
$20,037 $20,037
$20,037
$20,037
Telecommunications
and Technology
$15,790 $15,790
Infrastructure
$20,390
$20,390
Nursing Education
$13,378 $13,378
$13,378
$13,378
Foster Care
Education Program
$11,786 $11,786
$11,786
$11,786
$3,514
$3,514
Cost-of-living
adjustment
Enrollment Growth
Part-time Faculty
1.57%
1.63%
$3,514
0.86%
3%
$3,514
See one-time
funds below
Office Hours
Campus Childcare
Tax Bailout
$3,350
$3,350
$3,350
$3,350
Transfer and
Articulation
$698
$698
$698
$698
Part-time Faculty
Health Insurance
$490
$490
$490
$490
One-Time Funds
Physical Plant and
Instructional
Equipment
$148,000
$148,000
(maintenance
$175,000 (maintenance
or
only)
equipment)
no match in
2014-15
$50,000
$50,000
to increase
student
success in
careertechnical
programs
$1,400
$1,400
Economic and
Workforce
Development
Telecommunications
and Technology
Mandates
$49,500
to address
mandate
backlog
Finally, the budget includes language providing three-year phased-out stability for City College
of San Francisco, and rejects language proposed by the Administration to allow up to 25%
flexibility in Basic Skills, EOPS, and CalWORKs.
While never perfect, this is an outstanding budget, which will put more than $600 million to
work for California's community college students. Additionally, the spending plan eliminates
more than 80% of the deferrals to community colleges and, if revenues match the Legislative
Analyst's Office projections, would eliminate all deferrals this year.
Again, thank you for your advocacy, and to the advocates from the League, Chancellor's Office,
and all of our coalition partners in Sacramento.
Sincerely,
Scott Lay
President and Chief Executive Officer, The League
Orange Coast College '94
2014-2015
FINAL BUDGET
TABLE OF CONTENTS
PAGE
I
General Fund – Overview ................................................................................................. 1
A.
Base Budget ......................................................................................................... 3
1.
Base Budget Revenue.............................................................................. 3
a.
b.
c.
2.
General Apportionment ............................................................... 3
Lottery.......................................................................................... 6
Non-Resident Tuition .................................................................. 6
Base Budget Expenditures ...................................................................... 7
a.
Benefits ........................................................................................ 8
Base Budget Tables
Base Budget Revenue .................................................................. 9
Base Budget Expenditures ......................................................... 10
B.
Community Education........................................................................................ 12
C.
General Restricted Fund ..................................................................................... 14
D.
Carry-Over Sub-Fund ......................................................................................... 19
E.
General Unrestricted Funds ................................................................................ 20
F.
Carryover Fund Allocation................................................................................. 21
G.
One-Time Sub-Fund Allocation ......................................................................... 22
H.
Reserves (Ending Balance) ................................................................................ 23
1.
Base Budget Reserves ........................................................................... 23
a.
b.
c.
d.
e.
f.
2.
I.
General Reserves ....................................................................... 23
Revolving Cash Fund................................................................. 23
Clearing/Operational Fund......................................................... 23
2014-15 Operating Reserves ...................................................... 23
FTES Reserve ............................................................................ 24
One-Time Sub-Fund Allocations ............................................... 24
Ending Fund Balance vs. Cash Balance ................................................ 26
Other Financing Sources (Outgo)....................................................................... 28
Inter- and Intra-Fund Transfers ............................................................. 29
i
TABLE OF CONTENTS
(CONTINUED)
II
Retiree Benefit Fund ....................................................................................................... 30
III
Debt Service Fund ........................................................................................................... 34
IV
Child Development Fund ................................................................................................ 36
V
Building Fund ................................................................................................................. 38
A.
Scheduled Maintenance & Capital Construction Projects.................................. 38
B.
Transportation, Parking & Security.................................................................... 38
C.
Certificates of Participation ................................................................................ 38
D.
Redevelopment Agency (RDA) Funds............................................................... 38
VI
General Obligation Bond Fund ....................................................................................... 40
VII
Enterprise Fund – Auxiliary Services.............................................................................. 46
VIII
Associated Students Fund ............................................................................................... 54
IX
Trust & Agency Fund ...................................................................................................... 56
X
Scholarship & Loan Trust Fund ...................................................................................... 58
XI
Student Financial Assistance Fund.................................................................................. 60
XII
Student Representation Fee Trust Fund .......................................................................... 62
XIII
Student Center Fee Fund ................................................................................................. 64
XIV
Staffing Summary - All Funds ........................................................................................ 66
Attachments:
2014-2018 Budget Planning, September 8, 2014 ..................................................................... A1-5
Enrollment – Fall 2014, September 8, 2014 ................................................................................ B1
2014-15 Budget Revision: Allocation of FTES Reserve, August 4, 2014... ............................... C1
ii
2014-15 FINAL BUDGET
GENERAL FUND
I.
GENERAL FUND
Integration of Financial and Institutional Planning
The College Planning Council (CPC) serves as the main forum for discussion around
institutional and financial planning and other relevant policy matters. The president chairs
CPC meetings, with committee membership which includes administration, faculty, staff and
student representatives. CPC was initially created for the specific purpose of developing,
reviewing and monitoring college master plans. Over time, CPC also became responsible for
integrating budget development and other fiscal and budgetary matters with institutional
planning and with the institution’s overall Mission and Vision statements. Accordingly, CPC
utilizes the institution’s Mission statements as well as the College Master Plan to evaluate
program review reports, new program proposals, service proposals, resource allocation
matters and resource reduction proposals. CPC formulates recommendations to the president,
which are integrated with those of the cabinet, and are subsequently presented to the
Governing Board for discussion and approval.
Working in conjunction with CPC, financial and institutional planning also takes place at
various levels within the organization. Instructional departments review and develop program
plans and student learning outcomes, along with the resource needs to achieve desired
outcomes. These instructional plans are presented and reviewed by the Council for
Instructional Planning (CIP), which ranks and forwards the top third to CPC. Noninstructional departments also conduct program and planning reviews for CPC consideration.
The Facilities Planning Committee plans capital outlays, and all major construction and
remodeling projects to be consistent with the goals and objectives of the college. The resulting
Facilities Master Plan guides these expenditures, and is reviewed bi-annually by the board, the
president and vice president of administrative services.
Overview
The General Fund is maintained to account for those transactions that are for the overall college
operation (Instruction, Student Services, Business Services, et cetera). Within the General Fund,
a number of sub-funds have been established: Base Budget, Restricted, District Match,
Community Education, Carry-Over, and One-Time Sub-Funds. The division of these sub-funds
reflects the need to differentiate discretionary revenue from restricted revenue and ongoing
funding from one-time funding.
A brief description of each sub-fund is provided later in the report. It is anticipated that the
college will transfer approximately $1.1 million from the Operating Reserves to reduce the
Final Budget deficit. This transfer is shown in the ‘Transfers From One Time Fund’
presented below.
The Final Budgets for the Unrestricted Base Budget, including District Match, and the
Restricted Fund are summarized as follows:
1
2014-15 FINAL BUDGET
GENERAL FUND - OVERVIEW
General Fund
Base
Restricted
District
Carry
One
Community
Total
Overview
Budget (Note 1)
Budget
Match
Over
Time
Education
General Fund
Revenue
57,810,174
9,396,580
0
0
0
930,442
68,137,196
Expenditures
56,579,406
9,299,192
524,549
3,565,937
2,111,023
1,211,822
73,291,929
1,230,768
97,388
(524,549)
(3,565,937)
(2,111,023)
(281,380)
(5,154,733)
(2,369,600)
(823,312)
524,549
Revenue less
Expenditures
Transfers In/(Out)
Transfers From One Time Fund
1,138,832
Adjustment
0
0
0
0
(1,138,382)
0
(2,668,363)
450
0
Net Change in Fund Balance
Prior to One Time Transfer
From Reserves
0
(281,380)
(7,822,646)
(725,924)
0
(3,565,937)
(3,249,405)
3,000,000
726,872
0
3,565,937
4,690,990
1,114,827
13,098,626
3,000,000
948
0
0
1,441,585
833,447
5,275,980
Beginning Balance
July 1,2014
Projected Net Ending
Fund Balance
June 30, 2015
Note 1: The Base Budget requires a transfer in of $1,138,382 from the ‘One Time Reserve’ in order to balance the FY 2014-15 budget on a
short term basis.
2
2014-15 FINAL BUDGET
GENERAL FUND - OVERVIEW
A.
BASE BUDGET
Base Budget is an unrestricted sub-fund, accounting for the ongoing operational
expenditures of the college and is based on the approved 2014-15 State Budget.
1.
BASE BUDGET REVENUE
The Base Budget Revenue for community colleges is based on a formula
that allocates a “basic allocation” based on the number of colleges and
centers in a district. In addition to the basic allocation, each district
receives equalized rates for its full-time equivalent students (FTES) from
the state general apportionment, student enrollment fees, and property
taxes.
a.
General Apportionment
2013-14 Actual
Enrollment Fees: There were no changes to student enrollment
fees.
Growth: The state funded restoration/growth was funded at
1.63%. However, since enrollment was in decline, no restoration
revenue was earned for the FY 2013-14 Final Budget. The District
was in budget stability for 2013-14 with an enrollment cap of
10,887. The college received full funding for 2013-14.
COLA: The Final Budget includes funding for COLA at 1.57%.
Other issues: Declining enrollment will continue to be a concern,
as the college’s ability to sustain growth will be critical in future
years.
2014-15 Final Budget
General Apportionment: The State Budget includes 0.85% of funding
for COLA and 2.75% for enrollment growth. Since enrollment continues
to decline, no growth has been included for the FY 2014-15 Final
Budget. The college is planning for a permanent loss of funding of
$555,000; a 1% reduction of the enrollment cap from 10,833 to 10,775.
Budget Stability: In 2014-15 the college must return to the base level of
10,887 to maintain revenue at that level. Declining enrollment continues
to be a concern. The college must maintain 1,000 FTES in Watsonville
and 10,000 FTES overall as well.
Enrollment Fees: There are no proposed changes to student enrollment
fees.
3
2014-15 FINAL BUDGET
GENERAL FUND - OVERVIEW
ANNUAL APPORTIONMENT ATTENDANCE
FULL-TIME EQUIVALENT STUDENTS (FTES)
Year
1992-1993
1993-1994
FTES
8,685
8,370
Increase
(Decrease)
(3.6%)
1994-1995
8,459
1%
1995-1996
1996-1997
1997-1998
8,228
8,526
9,247
(2.7%)
3.5%
8.5%
1998-1999
9,549
3.3%
1999-2000
9,696
1.5%
2000-2001
2001-2002
2002-2003
2003-2004
2004-2005
2005-2006
2006-2007
2006-2007
2007-2008
2007-2008
2008-2009
2008-2009
2009-2010
2009-2010
2010-2011
2010-2011
2011-2012
2011-2012
2012-2013
2012-2013
2013-2014
2013-2014
10,175
10,956
11,391
11,410
11,159
11,159
10,981 (funded)
11,462 (reported)
11,467 (funded)
11,610 (reported)
13,472 (reported)
11,847 (funded)
12,799 (reported)
11,357 (funded)
11,915 (reported)
11,651 (funded)
12,483 (reported)
10,683 (funded)
10,833 (reported)
10,833 (funded)
10,233 (reported)
10,887 (funded)
5%
7.7%
4%
.17%
(2.2%)
-0(1.44%)
.786%
(5%)
(4%)
(7%)
2.5%
5%
(8%)
(13.22%)
1.40%
(5.5%)
-
*Differential fee of $50 for holders of BA/BS degrees
4
Student Fees
$13 per Unit
*$13 per Unit
$13 per Unit
No Differential
$13 per Unit
$13 per Unit
$13 per Unit
$13 per Unit-Fall
$12 per Unit-Spring
$12 per Unit-Fall
$11 per Unit-Spring
$11 per Unit
$11 per Unit
$11 per Unit
$18 per Unit
$26 per Unit
$26 per Unit
$20 per Unit
$20 per Unit
$20 per Unit
$20 per Unit
$20 per Unit
$20 per Unit
$26 per Unit
$26 per Unit
$26 per Unit
$26 per Unit
$36 per Unit
$36 per Unit
$46 per Unit
$46 per Unit
$46 per Unit
$46 per Unit
2014-15 FINAL BUDGET
GENERAL FUND - OVERVIEW
This chart compares the 2013-14 general apportionment with the budget for 2014-15.
GENERAL APPORTIONMENT
2013-14
Final
Budget
10,833
49,834,643
Funded Credit/Non-credit FTES Assumptions
BASE REVENUES
2013-14
Projected
Apportionment
10,833
49,849,329
2014-15
Final Budget
10,755
50,700,305
-555,000
State Budget Reduction of Workload (base FTES)
850,000
2013-14 COLA @ 1.75%
816,086
430,000
2014-15 COLA @ 0.85%
Foundation Grant
4,000,000
4,000,000
4,000,000
Watsonville Center Revenue
1,000,000
1,000,000
1,000,000
-1,200,000
-695,415
-692,000
54,484,643
54,970,000
54,883,305
Deficit Factor
General Apportionment-shortfall
Property Tax Shortfall
GENERAL APPORTIONMENT
5
2014-15 FINAL BUDGET
GENERAL FUND - OVERVIEW
b.
Lottery
2013-14 Actual
The Lottery estimate was funded for 2013-14 based on total FTES of
10,832 at a rate of $126 per FTES. The restricted rate is set at $31 per
FTES.
2014-15 Final Budget
The Lottery estimate for 2014-15 is based on total FTES of 10,775 at a
rate of $126 per FTES. The restricted rate is set at $31 per FTES.
c.
Non-Resident Tuition
2013-14 Actual
Non-resident tuition for 2013-14 was funded at $1,150,725.
2014-15 Final Budget
Non-resident tuition for 2014-15 will be set at the District’s computed cost
rate of $195, plus $3 per unit for the capital outlay fee. The college
enrollment from out-of-state and foreign students is expected to remain
relatively constant with FY 2013-14.
6
2014-15 FINAL BUDGET
GENERAL FUND - OVERVIEW
2.
BASE BUDGET EXPENDITURES
The following assumptions were used in generating the base budget
expenditures:
•
The Final Budget assumes the District will capture $300,000 in
salary/benefit savings from vacant positions.
•
Negotiated salary increases for 2014-15 include an on-going salary
schedule increase of 1.0% and an off schedule increase of 1.43%.
•
Benefit stipend increases were approximately 8.0% (50% - 50% cost
share).
•
A decrease in retiree benefits of approximately $107,000 is budgeted.
•
The PERS rate has increased from 11.442% to 11.771%. The District
pays the employee contribution for classified and confidential
employees, for a total of 18.771%.
•
Column and step increases are funded for all units.
•
The District plans to continue to suspend winter session in 2014.
•
The District will continue to fund $350,000 toward scheduled
maintenance.
•
Total transfers from the Bridge Fund Reserve of $1.1 million will be
used to balance the 2014-15 Final Budget.
•
The expenses associated with participating in the TRAN program are
estimated at $90,000.
•
A reduction in indirect reimbursements from grants of $66,073.
7
2014-15 FINAL BUDGET
GENERAL FUND - OVERVIEW
a. Benefits
Mandatory benefits have been funded based on the following rates:
FY 2012/13
FY 2013/14
FY 2014/15
11.417%
11.442%
11.771%
7%
7%
7%
$9.33/mo/per
employee
$9.33/mo/per
employee
$9.33/mo/per
employee
STRS
8.25%
8.25%
8.88%
SOCIAL SECURITY
6.20%
6.20%
6.20%
MEDICARE
1.45%
1.45%
1.45%
$1.854
$1.854
$1.6132
1.10%
.05%
.05%
15.00%
15.00%
15.00%
DISTRICT BENEFITS
PERS (Employer Portion)
PERS Employee (Paid by Employer for
Confidential employees and for
Classified bargaining-unit employees
hired before 1-1-13)
PERS AB2177
WORKERS COMP
Rate per $100 payroll
UNEMPLOYMENT
Rate per $100 payroll
Local experience charge
CAFETERIAPACKAGE/FTE
All Employee Groups
$9,236,$17,802,
$24,772
8
$9,621,$18,454, (est) $10,095,$19,345,
$25,773
$27,090
2014-15 FINAL BUDGET
GENERAL FUND - OVERVIEW
UNRESTRICTED GENERAL FUND
BASE BUDGET
REVENUES
FEDERAL
8150 Admin. Allowance
8160 Veterans
Total Federal
STATE
8612
8630
8612
8670
8612
8612
8681
Working Bdgt
2013-14
Actual
2013-14
$
$
$
Final Bdgt
2014-15
%
43,769
1,100
44,869
44,869
14,500,000
9,000,000
244,522
155,000
6,000,000
38,000
1,364,832
15,685,357
8,300,000
244,522
155,000
6,000,000
38,000
1,389,541
15,857,931
8,164,989
244,522
161,055
5,804,933
159,732
1,389,541
31,302,354
31,812,420
31,782,703
19,929,643
91,000
45,000
4,900,000
81,278
30,000
950,000
10,000
19,929,643
91,000
45,000
4,900,000
81,278
30,000
950,000
10,000
20,260,682
93,257
40,890
4,661,820
95,139
253
1,150,725
9,237
Total Local
26,036,921
26,036,921
26,312,003
45%
26,202,596
TOTAL REVENUES
57,384,144
57,894,210
58,146,490 100%
57,810,174
49,834,643
4,000,000
1,000,000
850,000
49,849,329
4,000,000
1,000,000
816,086
49,849,329
4,000,000
1,000,000
816,086
50,700,305
4,000,000
1,000,000
430,000
(1,200,000)
(695,415)
(754,005)
(692,000)
*General Apportionment
*EPA Prop. 30
P/T Faculty Comp
*State Taxes
*BOGG
2% Admin. Allow.
Lottery
*Taxes
Facility Rental/Use
Interest
*Enrollment Fee
2% Adm. Allow.
Transcripts
Non-Resident Tuition
Miscellaneous
* GENERAL APPORTIONMENT
Base, Prior Year
Foundation Grant
Center Revenue
COLA
Adjustments:
General Apportionment Shortfall
Student Fee Offset
Property Tax Shortfall
Workload Reduction (Base FTES)
* TOTAL GENERAL APPORTIONMENT
48,886
2,898
$
43,769
1,100
Total State
LOCAL
8811
8850
8860
8874
8874
8879
8880
8890
Adopted Bdgt
2013-14
43,769
1,100
51,784 0.09%
44,869
15,507,682
8,165,000
244,522
155,000
6,073,305
38,000
1,379,200
55%
31,562,709
20,320,318
87,000
45,000
4,662,000
81,278
0
1,000,000
7,000
0
0
0
(555,000)
54,484,643
54,970,000
54,911,410
54,883,305
9
2014-15 FINAL BUDGET
GENERAL FUND - OVERVIEW
UNRESTRICTED GENERAL FUND
BASE BUDGET
EXPENDITURES
Adopted Bdgt
2013-14
Working Bdgt
2013-14
Actual
2013-14
$
$
$
12,754,727
3,667,681
8,944,419
242,497
11,874,566
4,304,653
8,652,602
822,723
11,610,341
4,299,825
8,457,491
768,289
Total Certificated Salaries
25,609,324
25,654,544
25,135,946
CLASSIFIED SALARIES
2100 Regular Contract
2200 Instr'l Aide Contract
2300 Part-Time Classified
2400 Part-Time Class Instr'l Aide
9,472,546
1,282,740
406,118
303,147
8,958,092
1,273,051
664,408
288,076
8,869,040
1,249,625
595,083
272,723
11,464,551
11,183,627
10,986,471
5,694,003
6,694,701
5,976,159
6,693,036
5,756,954
6,208,642
Total Employee Benefits
12,388,704
12,669,195
11,965,596
SUPPLIES & MATERIALS
4200 Other Books
4300 Instructional Supplies
4500 Non-Instructional Supplies
8,000
555,005
512,142
8,595
523,874
576,313
8,595
407,136
503,392
1,075,147
1,108,782
919,123
376,858
111,451
89,566
522,000
2,045,033
16,300
812,275
237,100
160,000
71,000
238,726
110,000
63,039
23,800
117,291
30,020
52,878
59,228
4,936
307,000
866,158
157,649
93,905
520,533
2,036,603
14,832
781,549
276,556
130,500
66,270
253,226
115,352
65,318
22,133
80,159
12,755
47,378
215,123
4,632
307,000
729,685
93,738
89,517
477,994
1,753,099
14,529
733,960
251,848
109,062
66,270
240,862
68,172
39,199
16,566
53,803
4,039
0
207,316
567
360,462
5,448,501
6,067,631
5,310,688
21,950
220,135
18,702
59,598
18,702
39,628
242,085
78,300
58,330
CERTIFICATED SALARIES
1100 Teaching
1200 Non-Teaching
1300 Part-Time Teaching
1400 Part-Time Non-Teaching
Total Classified Salaries
EMPLOYEE BENEFITS
3000 Mandatory Benefit
3400 Medical Fringe Benefit
Total Supplies & Materials
OTHER OPERATING EXPENDITURES
5100 Professional Services
5200 Travel & Mileage
5300 Dues & Memberships
5400 Insurance
5500 Utilities
5600 Rental Equip. & Facilities
Maint. Serv. Agreements
Repairs
5700 Legal Fees
Audit
Misc. Fees (Mchnt Bank/TRAN)
5800 Postage
Advertising
Fingerprint & Testing Reqs
Printing
Program Support
Component Support
Permit, License, and Tax Fees
Other Fees
Uncollectable Stdnt. Recv.
Total Operating
CAPITAL OUTLAY
6300 Books
6400 Equipment
Total Capital Outlay
10
Final Bdgt
2014-15
%
$
12,538,780
3,717,574
9,084,500
242,686
46%
25,583,540
9,605,282
1,298,280
416,246
306,295
20%
11,626,103
5,657,704
6,941,926
22%
12,599,630
8,000
597,242
497,757
2%
1,102,999
388,856
140,338
95,216
512,000
1,938,033
16,300
861,800
248,100
150,000
65,000
248,726
92,500
63,039
23,800
113,291
24,620
24,266
59,228
4,936
355,000
10%
5,425,049
21,950
220,135
0%
242,085
2014-15 FINAL BUDGET
GENERAL FUND - OVERVIEW
UNRESTRICTED GENERAL FUND
BASE BUDGET
EXPENDITURES
TOTAL EXPENDITURES
TOTAL REVENUES
Adopted Bdgt
2013-14
Working Bdgt
2013-14
Actual
2013-14
$
$
$
Final Bdgt
2014-15
%
$
56,228,312
57,384,144
56,762,079
57,894,210
54,376,154
58,146,490
56,579,406
57,810,174
1,155,832
1,132,131
3,770,336
1,230,768
(553,283)
302,684
(553,283)
302,534
(496,938)
276,950
(524,549)
236,611
33,431
15,000
106,651
95,211
(339,000)
(1,542,000)
(200,000)
(215,226)
(2,045,933)
33,431
15,000
106,651
95,211
(339,000)
(1,542,000)
(200,000)
(350,000)
(2,180,707)
33,431
15,000
108,034
88,804
(339,000)
(1,542,000)
(200,000)
(350,000)
(2,185,731)
34,984
15,000
104,783
89,321
(340,750)
(1,435,000)
(200,000)
(350,000)
(2,081,662)
(2,296,532)
(2,431,456)
(2,405,719)
(2,369,600)
(1,140,700)
(1,299,325)
1,364,617
(1,138,832)
1,140,700
1,140,700
0
(158,625)
1,364,617
0
BALANCE - BEGINNING YEAR
3,000,000
3,000,000
3,000,000
3,000,000
YEAR END FUND BALANCE
3,000,000
3,000,000
3,000,000
3,000,000
2,875,000
100,000
25,000
2,875,000
100,000
25,000
2,875,000
100,000
25,000
2,875,000
100,000
25,000
0
3,000,000
=========
200,000
0
3,200,000
===========
200,000
0
3,200,000
=========
0
3,000,000
===========
REVENUES OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (OUTGO)
To District Match-FD 13
Indirects-fr FD 12, 33, 71, 72, 79
TRANSFERS
From Bookstore Fund 51
From Assoc. Students Fund 71
From Student Center Fund 73
From Trust & Agency Fund 79
To Debt Service Fund 22
To Retiree Benefits Fund 23
To Bldg/Transportation Fund 41
To Bldg/Sched Maintenance FD 46
Total Transfers
TOTAL OTHER FINANCING
SOURCES (OUTGO)
EXCESS REVENUES/TRANSFERS
OVER (UNDER) EXPENDITURES
FROM ONE-TIME (17)
NET CHANGE TO FUND BALANCE
RESERVES
General Reserve
Revolving Cash Fund
Clearing/Operational
Unallocated
Budget Adjustments
Mid-Year Reductions
TOTAL RESERVES
11
1,138,832
2014-15 FINAL BUDGET
COMMUNITY EDUCATION – GENERAL FUND
B.
COMMUNITY EDUCATION
This sub-fund accounts for the Community Education and the Contract Education
programs.
The Community Education program is primarily based upon revenue generated
from class fees.
12
2014-15 FINAL BUDGET
CABRILLO EXTENSION/COMMUNITY EDUCATION - GENERAL FUND
Cabrillo Community College District
Final Budget 2014-15
Cabrillo Extension/Community Education (Fund 15)
Budget
2013-14
Revenues
8800: Local
Total Revenues
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
7600: Grants/Donations/Scholarships
Total Expenditures
Excess of Revenues Over Expenditures
Actual
2013-14
Budget
2014-15
916,738
916,738
1,178,919
1,178,919
930,442
930,442
0
553,773
248,808
30,128
274,403
4,000
1,111,112
0
486,952
145,882
79,679
367,625
1,080,138
61,465
539,754
268,361
35,304
304,671
2,000
267
1,211,822
(194,374)
98,781
(281,380)
Other Financing Sources (Outgo)
Interfund Transfers
8900: Transfers In
7300: Transfers Out
2,318
Total Other Financing Sources (Outgo)
Net Change to Fund Balance
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
13
-
(2,318)
0
(196,692)
98,781
0
(281,380)
1,016,046
1,016,046
1,114,827
819,354
1,114,827
833,447
2014-15 FINAL BUDGET
GENERAL RESTRICTED FUND
C.
GENERAL RESTRICTED FUND
The Restricted General Fund programs are established for the purpose of
providing specialized services. These services are funded by revenues collected
from program participants or from revenues provided by a federal, state or local
agency. As the name implies, restricted funds may only be used to pay for the
costs of providing specific services.
Federal, state and local agencies frequently require that a district receiving special
funding provide general fund dollars to the restricted program. This “match”
varies by funding agency and may be in the form of a cash contribution to pay for
specific expenditures, or it may be an “in-kind” contribution that is made through
allocation of existing District resources such as use of a facility, use of equipment,
utilities or personnel. Required match is often expensed in the unrestricted
general fund. The college continues to evaluate match requirements and
commitments to determine the appropriate level of match for each program.
Page 15 shows a summary of the 2014-15 Final Restricted General Fund revenues
and expenditures. Pages 16-18 show the listing of programs included in the
Restricted General Fund budget.
14
2014-15 FINAL BUDGET
RESTRICTED - GENERAL FUND
Cabrillo Community College District
Final Budget 2014-15
Restricted Fund (12)
Budget
2013-14
Actual
2013-14
Budget
2014-15
Revenues
8100: Federal
8600: State
8800: Local
Total Revenues
3,951,641
5,437,218
1,844,432
11,233,291
2,692,063
5,688,724
1,482,538
9,863,325
2,673,076
5,337,429
1,386,075
9,396,580
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
Total Expenditures
2,382,754
1,978,522
1,720,588
904,617
3,130,216
1,481,270
11,597,967
2,195,757
2,021,942
1,477,763
831,934
2,244,915
1,462,432
10,234,743
1,946,643
1,925,384
1,497,686
741,960
3,021,115
166,404
9,299,192
Excess of Revenues Over Expenditures
(364,676)
(371,418)
97,388
(76,728)
(235,551)
(101,552)
(216,245)
(85,876)
(172,954)
(742,258)
(652,814)
(564,482)
Total Other Financing Sources (Outgo)
(1,054,537)
(970,611)
(823,312)
Net Change to Fund Balance
(1,419,213)
(1,342,029)
(725,924)
2,068,902
2,068,902
726,873
649,689
726,873
949
Other Financing Sources (Outgo)
7600: Grants/Donations/Scholarships
7320: Indirects
Interfund Transfers
8900: Transfers In
7300: Transfers Out
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
15
2014-15 FINAL BUDGET
RESTRICTED - GENERAL FUND
Cabrillo Community College District
Final Budget 2014-15
Restricted - General Fund Detailed Program Listing
Project
Description
022
023
024
026
027
028
029
040
050
051
053
054
058
100
103
107
110
111
112
125
126
128
136
138
140
141
142
143
150
153
165
170
174
175
194
202
204
205
CC Fdtn - Mont Penin Fdtn
CAP
Stdnt Support Conf Team
CC Fdtn - Herman Tutorials
CC Fdtn - Foster Youth Pr
CA College Pathways
Career Ladders
Student Equity
Title III-STEM Construction
Title III-STEM 11-12 Yr 1
Title III-STEM 13-14 Yr 3
Title III-STEM 14-15 Yr 4
CC Fdtn - NAS Division
Lottery
Student Representation
CC Fdtn - Stroke Center
Health Services
DSPS
Human Care Alliance
CARE
EOPS
PVUSD EOPS Smr Migrant
NSF - MESA/STEEP 12-13
ACCESS 14-15
FTTW-WIA Adult
FTTW-WIA Dislocated Wkr
FTTW-WIA Adult(Perf Based)
FTTW-WIA Disl Wkr(Perf Bas
Federal College Wk Stdy
Stdnt Fin Aid Assist - SFAA
Foster Parent
Learning Works-MARC
MESA 13-14
MESA 14-15
Stdnt Success/SSSP-Credit
Faculty/Staff Diversity
TANF-Welfare Reform
CalWorks-Welfare Reform
Federal
Revenue
8100
State
Revenue
8600
Local
Certificated Classified
Revenue 8800- Salaries
Salaries
8900
1000
2000
4,337
85,422
12,020
16,678
26,876
4,519
2,966
165,362
Employee
Benefits
3000
2,940
51,394
49
4,200
11,130
18,536
3,500
1,150
184
1,734
327
108
46,022
119,340
383,482
42,870
147,270
485,737
7,758
119,076
5,000
40,000
1,198,351
28,125
107,634
563,280
55,275
200,005
561,485
Student
Aid
7600
Transfer
Out
7310
Indirect
7320
348
6,328
1,364
1,708
9,688
72,291
4,919
25,500
99,325
81
30,015
3,243
14,888
31,875
31,875
3,030
3,900
255,800
420,619
116,255
11,751
13,765
50,500
812,755
6,013
23,500
162,000
83,933
113,260
444,253
477,462
1,125
72,959
3,800
292
11,880
14,760
14,371
4,750
5,985
377,102
255,800
244,061
13,085
1,000
6,621
31,605
119,182
176,558
33,024
94
680
8,640
184,191
700
672
12,884
1,994
6,232
18,800
96,983
10,816
30,659
5,489
5,487
2,300
67,394
18,215
2,391
2,510
4,238
4,238
56,057
22,760
93,139
169,659
49,028
7,154
81,785
29,599
106,487
301,196
17,330
277
85,081
2,500
293
498
9,515
9,341
66,358
44,007
277,196
23,500
Capital
Outlay
6000
383,482
366,350
25,000
Other
Supplies & Operating
Materials Expenses
4000
& Services
5000
1,000
5,000
18,500
1,020
11,000
4,000
1,606
5,000
692
16
5,000
6,300
349,126
159,711
1,024
3,000
1,000
3,000
6,500
42,870
13,237
27,000
45,082
37,406
42,262
4,500
267
908
1,188
2,878
3,705
2,454
2,737
152
195
400
10,783
9,687
484
1,656
119,396
6,013
9,901
22,639
2,906
970
530
1,942
Total
Expenses
4,337
85,422
12,020
16,678
26,876
4,519
2,966
165,362
383,482
42,870
147,270
485,737
5,000
921,715
28,125
107,634
798,839
1,198,351
66,358
44,007
277,196
30,015
3,243
14,888
31,875
31,875
3,030
3,900
255,800
420,619
116,255
11,751
13,765
50,500
812,755
6,013
47,000
162,000
2014-15 FINAL BUDGET
RESTRICTED - GENERAL FUND
Cabrillo Community College District
Final Budget 2014-15
Restricted - General Fund Detailed Program Listing
Project
Description
230
242
292
295
299
316
327
330
353
354
355
357
358
361
363
364
365
367
391
393
394
395
396
398
507
518
550
618
620
624
650
668
670
672
701
708
714
815
AMATYC
Int'l Student Cap Surcharge
FTTW-WIA CalWorks
FTTW-WIA CalWrks Wk Sty
FTTW-CalWrks Perf Based
FTTW - SFSN
QSEN-Nursing Fac Dev
CTE Nursing Enrollmnt Gr
Title V-Hisp Serv Inst 11-12
Title V-Hisp Serv Inst 12-13
Title V-Hisp Serv Inst 13-14
CC Fdtn - Nursing
Health Projects Ctr/AHEC
Basic Skills 14-15
Basic Skills 12-13
Basic Skills 13-14
OFR Foster Prnt-SCCHRA
STAP-Spec Traing Adopt
SBDC-SBA Odd Year
SBDC-SBA Even Year
DSN
DSN - In Region Invest.
SBDC - BEC
SBDC - Safeway
Student Body Center Fee
State Instrl. Materials 13-14
CC Fdtn - STEM Equip
CC Fdtn - Crocker 13-14
CC Fdtn - Rad Tech
CC Fdtn - VAPA
CC Fdtn-Faculty Grant 13-14
Hort. UCSC - USDA
CC Fdtn - Horticulture
CC Fdtn-E.A.S.E
CC Fdtn - Rockefeller Philan
NSF - ISc (Sci & Math)
Gates
VTEA 1C 13-14
Federal
Revenue
8100
State
Revenue
8600
Local
Certificated Classified
Revenue 8800- Salaries
Salaries
8900
1000
2000
Employee
Benefits
3000
2,213
7,500
75,404
91,556
6,753
100,000
4,488
38,215
51,210
24,256
949
41,419
16,707
45,617
15,378
4,106
217,937
36,440
18,000
38,943
134,365
57,755
11,140
81,000
47,113
57,080
239,922
167,466
7,700
15,500
39,993
7,697
29,529
26,529
45,348
78,873
93,798
86,573
50,493
1,130
25,317
114,583
300
21,729
12,653
2,426
27,511
26,151
13,835
13,085
26,604
30,649
16,160
4,356
6,219
23,102
22,671
15,000
17,901
7,825
130
6,405
600
4,020
Other
Supplies & Operating
Materials Expenses
4000
& Services
5000
2,213
200
1,636
6,809
39,397
6,401
352
4,978
36,896
4,106
5,252
106,868
18,000
18,443
12,500
9,726
59,899
2,888
575
81,000
47,113
24,710
4,000
140,665
650
84,435
250
6,855
1,154
1,554
Capital
Outlay
6000
Student
Aid
7600
Transfer
Out
7310
Indirect
7320
7,300
8,382
2,221
442
28,791
20,096
3,744
6,513
3,607
3,330
2,524
974
23,560
59,351
76,473
46,415
17,338
4,583
110,000
4,020
44,000
4,494
12,002
25,250
5,496
72,903
88,951
8,665
18,042
53,481
44,000
4,494
10,583
1,419
25,250
43,662
8,061
7,734
11,689
8,829
931
5,017
1,126
693
3,296
4,431
42,827
2,200
16,749
3,160
35,867
32,433
33,346
44,243
12,620
17
46,124
1,336
3,806
913
31,623
Total
Expenses
2,213
7,500
75,404
91,556
6,753
100,000
4,106
217,937
18,000
38,943
134,365
57,755
11,140
81,000
47,113
57,080
239,922
167,466
45,348
78,873
93,798
86,573
50,493
25,317
114,583
4,020
44,000
4,494
12,002
25,250
5,496
72,903
88,951
8,665
18,042
53,481
33,346
44,243
2014-15 FINAL BUDGET
RESTRICTED - GENERAL FUND
Cabrillo Community College District
Final Budget 2014-15
Restricted - General Fund Detailed Program Listing
Project
816
819
821
852
858
859
862
864
872
874
875
Description
VTEA 1C
CTE Transitions
CTE Teacher Prep 12-13
WD 2.0
BAWFC San Fran Fndtn
CTE-BACCC/VTEA 1B
CTE Collaborative
CTE S4C
COE SC4
CA DOE Linked Learning
AB86 Adult Ed
Total
Federal
Revenue
8100
State
Revenue
8600
Local
Certificated Classified
Revenue 8800- Salaries
Salaries
8900
1000
2000
334,435
149,885
370,000
68,295
1,225
15,077
8,133
2,558
10,500
8,898
6,318
1,946,643
1,925,384
1,497,686
63,189
24,368
222,333
2,673,076
Other
Supplies & Operating
Materials Expenses
4000
& Services
5000
85,024
68
99,458
Employee
Benefits
3000
5,337,429
1,386,075
18
Capital
Outlay
6000
Student
Aid
7600
Transfer
Out
7310
Indirect
7320
Total
Expenses
267,173
14,230
49,801
2,697
5,000
23,308
183,066
1,060
8,551
334,435
0
0
0
0
370,000
0
63,189
0
24,368
222,333
741,960
3,021,115
172,954
10,122,504
4,000
166,404
85,876
564,482
2014-15 FINAL BUDGET
CARRY-OVER SUB-FUND – GENERAL FUND
D.
CARRY-OVER SUB-FUND
The carry-over sub-fund account consists of: self-sustaining funds, projects that
are not completed within the same fiscal year and available balance in line-item
budgets authorized for carry-over.
Self-sustaining funds depend on their ability to generate revenue to support their
actual operating expenditures.
Major projects that cross fiscal years are carried over in this sub-fund. Examples
are major repairs, remodeling, and painting projects that are not state-funded.
Examples of items authorized for carry-over are the year-end balances in supply
budgets and the balance in the account established to fund the deductible for
insurance claims.
19
2014-15 FINAL BUDGET
ALLOCATION OF FUND BALANCE - GENERAL UNRESTRICTED FUND
E. GENERAL UNRESTRICTED FUND
FY 2014-15
Beginning Fund Balance (as of 7/01/2014)
11,256,927
Allocation of Fund Balance:
General Reserve -5% (fund 11)
Carryover Fund Allocation for 2014-15 (fund 14)
One Time Sub-fund Allocation (fund 17)
Total Allocations To Date
3,000,000
3,565,937
3,249,405
9,815,342
Unallocated Fund Balance/Operating Reserves
1,441,585
Total Allocated and Unallocated Fund Balance
20
11,256,927
2014-15 FINAL BUDGET
CARRYOVER – GENERAL FUND
F.
CARRYOVER FUND ALLOCATION
General Department Carryover
1,590,304
Contract Commitments
1,043,904
Special Programs (net of estimated revenue)
Total Carryover
931,729
$
21
3,565,937
2014-15 FINAL BUDGET
ONE-TIME SUB-FUND
G.
ONE-TIME SUB-FUND ALLOCATION
Net Allocations:
Lease Revenue Watsonville- Adult Ed
40,000
Lease RevenueWatsonville- SOS
42,996
Lease Revenue Main Campus 350 Building-OASIS (net)
49,116
Lease Revenue -HW 1 Precision (Net)
49,992
Transfer to Retiree Benefit Fund
(200,000)
FTES Reserve
(312,131)
FY 2014-15 Deficit (Transfer to Fund 11)
One-time Off Schedule Salary Increases for FY 2014-15
General Department One-Time Allocation
Total Allocations
(1,138,382)
(606,984)
(1,174,012)
(3,249,405)
22
2014-15 FINAL BUDGET
RESERVES – GENERAL FUND
H.
RESERVES (ENDING BALANCE)
1.
RESERVES
The District’s General Fund balance decreased approximately $1.1 million
in FY 2013-14 from $14.2 million to $13.1 million. The FY 2014-15 budget
continues to rely on the use of these reserves (approximately $1.1 million)
to balance the existing structural deficit. Doing so is expected to result in a
reduced ending fund balance as well as the further reduction to ending cash
balance for the year. The current projections estimate that a significant
amount of the available cash balance will be used at critical times during
FY 2014-15; emphasizing the need to secure funds by participating in a
Summer TRANS. The necessary reliance on borrowed funds increases the
District’s fiscal risk as it limits its ability to respond to unplanned events.
2.
BASE BUDGET RESERVES
The General Reserves, Revolving Fund, Revolving Stores, and
Clearing/Operational Fund are accounted for in the base budget in the
amount of $3,000,000. These funds are not designated for allocation during
the fiscal year.
a.
General Reserves
An account to record the reserve budgeted to provide operating cash
in the succeeding fiscal year until taxes and state funds become
available. The California Community Colleges Chancellor’s Office
guideline is a minimum of 5% of the total General Fund revenues.
The Final Budget includes a 5% general reserve; $2,875,000.
b.
Revolving Cash Fund
A $100,000 account to be used for emergency or small sundry
disbursements.
c.
Clearing/Operational Fund
A $25,000 account to be used for District deposits and subsequent
withdrawal into appropriate county treasury accounts.
d.
2014-15 Operating Reserves
The District retains an Operating Reserve to provide one-time
assistance and planning time for addressing ongoing reductions in
state revenues. The District will cover the $1.1 million deficit for
2014-15.
23
2014-15 FINAL BUDGET
RESERVES – GENERAL FUND
e.
FTES Reserve
The FTES Reserve balance is included on page 22. The FTES
reserve will be funded at $312,131 for 2014-15.
f.
One-Time Sub-Fund Allocations
The One-Time Sub-Fund includes approximately $3.5 million for
one-time projects and reserves needed to balance the budget. New
allocations for 2014-15 are approximately $1.4 million.
24
2014-15 FINAL BUDGET
RESERVES - GENERAL FUND
2014-15 Final Budget
5% Reserve of the General Fund
RESERVES
Final Budget
Base
Budget
General Reserve
2,875,000
Revolving Cash Fund
100,000
Clearing/Operational
25,000
Total Reserves
$3,000,000
25
2014-15 FINAL BUDGET
FUND BALANCE VS CASH
2.
ENDING FUND BALANCE vs CASH BALANCE
6/30/2014
Budget
6/30/2015
$3,000,000
3,800,000
3,361,853
1,000,000
1,016,046
$12,177,899
$3,000,000
3,743,375
4,201,407
312,131
1,114,827
$12,371,740
$3,000,000
3,580,364
3,644,637
770,710
1,040,773
$12,036,485
847,337
2,068,901
726,872
1,214,370
$12,407,153
$14,246,800
$13,098,612
$13,250,855
Ending Balance
6/30/2012
6/30/2013
Unrestricted Funds
5% General Reserve - Fund 11
Carry Over - Fund 14
One-Time - Fund 17
FTES Reserve - Fund 17
Community Ed - Fund 15
Total Unrestricted Funds
$3,000,000
3,197,718
3,370,652
1,000,000
991,446
$11,559,816
Restricted Funds
Total General Fund Ending Balance
Cash Balance
6,933,116
Apportionment Allocation Deferrals
2011-12 @ $9,600,000
2012-13 @ $9,600,000
2013-14 @ $6,200,000 (est)
2014-15 @ expected to be zero
* Includes a Mid-Year TRAN of $8.8 million.
** Includes a Mid-Year TRAN of $4.4 million
26
13,408,072 *
12,703,767 ** 11,100,000
-This Page Intentionally Left Blank-
27
2014-15 FINAL BUDGET
OTHER FINANCING SOURCES (OUTGO)
I.
OTHER FINANCING SOURCES (OUTGO)
Other financing sources include proceeds from long-term debt, sale of fixed
assets, and incoming transfers.
Other outgo includes debt retirement, student aid and transfers to other funds.
Inter-fund transfers are made to move appropriations and dollars from one fund to
another fund for the purpose of paying for expenditures using the structure
required by generally accepted accounting principles applied to governmental
entities. The transfer of funds allows money to be moved from one fund to a
second fund with the second fund then being responsible for paying all operating
costs of that program. This practice allows all program expenditures related to the
operation of the program, regardless of funding sources, to be accounted for in a
single fund. This treatment provides readers with a full understanding of the
scope of the program as a whole.
Intra-fund transfers are made within a fund of a district. An example of an intrafund transfer would be moving funds from the unrestricted general fund to the
restricted general fund.
A schedule of Inter- and Intra-fund Transfers is included on the following page.
28
2014-15 FINAL BUDGET
TRANSFERS
INTERFUND TRANSFERS
Transfer in
Unrestricted General Fund 11
From One-Time Sub Fund 17
From Bookstore Fund 51
From ASCC Fund 71
From Stu Ctr Fund 73
From Trust & Agency Fund 79
To Debt Service Fund 22
To Retiree Benefit Fund 23
To Building Fund 41 (Transportation)
To Building Fund 46 (Scheduled Maintenance)
Transfer Out
Purpose
340,750
1,435,000
200,000
350,000
Balance General Fund
Auxiliary Services support
Library Textbooks on Reserve
GF Salaries and Benefits
GF Pino Alto Salaries (50%)
Debt payment
Present & future retiree benefits
Transportation and Protective Serv
Scheduled Maintenance
1,138,832
34,984
15,000
104,783
89,321
Restricted General Fund 12
To Debt Service Fund 22
To Debt Service Fund 22
To Student Rep Fund 72 (Fees)
To Student Ctr Trust Fund 73 (Fees)
383,482
44,000
27,000
110,000
One-Time Sub Fund 17
To Unrestricted General Fund 11
To Retiree Benefit Fund 23
1,138,832
200,000
Debt Service Fund 22
From Unrestricted General Fund 11
From Unrestricted General Fund 12
From Restricted General Fund 12
340,750
44,000
383,482
Retiree Benefit Fund 23
From Unrestricted General Fund 11
From One-Time Sub Fund 17
1,435,000
200,000
Building Funds 41-47
From Unrestricted General Fund 11 (41-Transportation)
From Unrestricted General Fund 11 (46-Scheduled Maintenance)
Title III STEM Construction Loan
Title III STEM Foundation Loan
Student fee transfer
Student fee transfer
Balance General Fund
Future retiree benefits
Debt payment
Title III STEM Foundation Loan
Title III STEM Construction Loan
Present & future retiree benefits
Future retiree benefits
200,000
350,000
Transportation and Protective Serv
Scheduled Maintenance
Bookstore Fund 51
To Unrestricted General Fund 11
To Duplications Fund 59
34,984
96,862
Auxiliary Services support
Auxiliary Services support
Food Services Fund 52
To Duplications Fund 59
25,000
Auxiliary Services support
Duplications Fund 59
From Bookstore Fund 51
From Food Services Fund 52
From Trust and Agency Fund 79
96,862
25,000
14,500
Associated Students CC Fund 71
To Unrestricted General Fund 11
Auxiliary Services support
Auxiliary Services support
Vending Income
15,000
Student Representation Fund 72
From Restricted General Fund 12 (Fees)
27,000
Student Center Trust Fund 73
From Restricted General Fund 12 (Fees)
To Unrestricted General Fund 11
Student fees collected
110,000
104,783
Trust & Agency Fund 79
To Duplications Fund 59
Pino Alto/Sesnon to Unrestricted General Fund 11
14,500
89,321
Total Inter- and Intra-fund Transfers
4,609,514
Indirects collected in the Unrestricted General Fund (5732xx)
From Restricted General Fund 12
From Child Development Fund 33
From Associated Students Fund 71
From Student Representation Fund 72
From Trust and Agency Fund 79
172,954
14,500
20,160
1,890
27,107
Total Indirects Transferred to Fund 11
236,611
29
Library Textbooks on Reserve
4,609,514
Student fees collected
GF Salaries and Benefits
Vending Income
GF Pino Alto Salaries (50%)
2014-15 FINAL BUDGET
RETIREE BENEFIT FUND
II.
RETIREE BENEFIT FUND
Pursuant to the Governmental Fund Group descriptions contained in the California
Community Colleges Budget and Accounting Manual, the District has established a
Retiree Benefit Fund that is contained within the debt service fund group. The fund is
used for the sole purpose of funding retiree health benefits.
The District pays retiree benefits directly out of the Retiree Benefit Fund. Annually, the
OPEB liability is reviewed as part of budget development and intentional efforts have
been made to continue funding the liability in midst of significant budget reductions. An
actuarial study related to the District’s OPEB liability, is conducted bi-annually as
prescribed by the Governmental Accounting Standards Board (GASB 45). The estimated
liability is recognized and reported in the annual audit. During the year, a transfer is
processed from the General Fund to cover the estimated annual cost of retiree benefits.
The District is required to account for the costs of retiree health benefits on an accrual
basis, i.e., over the working lifetime of eligible employees. In 2009-10 the District
implemented GASB 45 reporting requirements and the entity-wide financial statements
now recognize the annual required contribution (ARC). The ARC includes future other
post employment benefits (OPEB) costs of active eligible employees + amortized
unfunded liability of retirees.
Although GASB 45 does not require funding the ARC, districts are encouraged to
consider OPEB commitments and the districts’ ability to finance when they assess their
fiscal health in preparation for Accreditation, future Bond measures, etc. Therefore,
additional annual allocations for funding the future cost of retiree benefits from the base
budget and one-time funds are: $200,000 from base and $200,000 from one-time.
Funds held in the Retiree Benefit Fund will accumulate interest income that will be held
toward the cost of future benefits.
30
2014-15 FINAL BUDGET
RETIREE BENEFIT FUND
Cabrillo Community College District
Final Budget 2014-15
Retiree Benefit (Fund 23)
Budget
2013-14
Revenues
8100: Federal
8600: State
8800: Local
Total Revenues
Actual
2013-14
Budget
2014-15
11,500
11,500
11,974
11,974
12,800
12,800
1,164,000
1,264,733
1,205,000
1,164,000
1,264,733
1,205,000
(1,152,500)
(1,252,759)
(1,192,200)
Interfund Transfers
8900: Transfers In
7300: Transfers Out
1,742,000
1,742,000
1,635,000
Total Other Financing Sources (Outgo)
1,742,000
1,742,000
1,635,000
589,500
489,241
442,800
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
2,747,547
2,747,547
3,236,788
3,337,047
3,236,788
3,679,588
Reserve - For Future Retiree Benefits
3,337,047
3,236,788
3,679,588
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
Total Expenditures
Excess of Revenues Over Expenditures
Other Financing Sources (Outgo)
Net Change to Fund Balance
31
Retiree Benefit Fund (23)
Projections through 2017-18
2006-07 thru
2012-13 Actual
2013-14
Actual
2014-15
Projected
2015-16
Projected
2016-17
Projected
2017-18
Projected
Grand
Total
1,264,733
1,205,000
1,235,000
1,250,000
1,191,000
(5,984,585)
(1,264,733)
(1,205,000)
(1,235,000)
(1,250,000)
(1,191,000)
(12,130,318)
7,249,318
1,205,000
1,235,000
1,250,000
1,191,000
1,267,000
13,397,318
1,264,733
1,205,000
1,235,000
1,250,000
1,191,000
1,267,000
1,267,000
1,482,814
2,031,788
2,444,588
2,858,888
3,274,488
FUNDING for Annual Costs:
Beginning Balance
Less actual costs /
a
Projected Budget
Base Budget Allocation
for Subsequent Annual Costs
b
Ending Balance
FUNDING for Future Benefits:
Beginning Balance
Base Budget Allocation
for Reserves
401,682
337,000
200,000
200,000
200,000
200,000
1,538,682
One-Time Fund Allocation
for Reserves
975,000
200,000
200,000
200,000
200,000
200,000
1,975,000
Interest Income
106,131
11,974
12,800
14,300
15,600
17,300
178,105
Ending Balance
1,482,814
2,031,788
2,444,588
2,858,888
3,274,488
3,691,788
3,691,788
Annual Ending Fund Balance
2,747,547
3,236,788
3,679,588
4,108,888
4,465,488
4,958,788
4,958,788
a
b
Projected budget based on Actuarial Study.
Base budget allocation is for subsequent fiscal year annual costs. Transfer is made prior to new year to maximize interest earnings.
32
-This Page Intentionally Left Blank-
33
2014-15 FINAL BUDGET
DEBT SERVICE FUND
III.
DEBT SERVICE FUND
The District uses the Debt Service Fund to account for the payment of the Certificates of
Participation (COP) authorized by the Board of Trustees in 1997-98, as well as the STEM
Lease Purchase Agreement approved in June 2012 for the purpose of financing a
construction project related to the STEM grant. COPs are a form of debt used by
governmental agencies that does not require voter approval.
A transfer from the General Fund is made to cover annual COP commitments.
The final loan payment for Delta School capital improvements made in 2007 and a
corresponding reimbursement from Delta School was made at the end of 2013-14. This
item is now closed out and is not included in Preliminary or Final Budget for 2014-15.
34
2014-15 FINAL BUDGET
DEBT SERVICE FUND
Cabrillo Community College District
Final Budget 2014-15
Debt Service (Fund 22)
t
9
Revenues
8100: Federal
8600: State
8800: Local
Total Revenues
Budget
2013-14
Actual
2013-14
Budget
2014-15
49,065
49,065
49,065
49,065
0
0
339,000
476,549
815,549
339,000
432,549
771,549
340,750
427,482
768,232
(766,484)
(722,484)
(768,232)
Interfund Transfers
8900: Transfers In
7300: Transfers Out
766,484
722,484
768,232
Total Other Financing Sources (Outgo)
766,484
722,484
768,232
0
0
0
347,095
347,095
347,095
347,095
347,095
0
347,095
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
7000: Debt Reduction
Total Expenditures
Excess of Revenues Over Expenditures
Other Financing Sources (Outgo)
Net Change to Fund Balance
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
35
2014-15 FINAL BUDGET
CHILD DEVELOPMENT FUND
IV.
CHILD DEVELOPMENT FUND
The Child Development Fund is designated as a special revenue fund. This fund
accounts for legally restricted revenue sources such as the Child Care Premium Tax
Bailout, the California Department of Education, and the U.S. Department of Education.
The Children’s Center functions as a demonstration lab for the Early Childhood
Education instructional program while providing child care services to families of
students, faculty, staff and community members.
Since the 2009-10 fiscal year, Cabrillo has partnered with the Santa Cruz County
Community Counseling Center by leasing the Baskin Center for a Head Start program.
Also, for 2014-15, the Claire Giannini Foundation has awarded the Children’s Center a
grant in the amount of $60,000. These local revenues represent the college’s continued
effort to make the Children’s Center fiscally sustainable.
36
2014-15 FINAL BUDGET
CHILD DEVELOPMENT FUND
Cabrillo Community College District
Final Budget 2014-15
Child Development (Fund 33)
Budget
2013-14
Revenues
8100: Federal
8600: State
8800: Local
Total Revenues
Actual
2013-14
Budget
2014-15
68,000
491,658
148,500
708,158
197,116
293,329
156,115
646,560
196,298
299,408
175,400
671,106
229,999
91,211
135,289
19,700
169,700
212,163
92,613
112,026
16,711
190,160
179,910
97,867
112,229
15,050
186,047
645,899
623,673
591,103
62,259
22,887
80,003
Interfund Transfers
8900: Transfers In
7300: Transfers Out
(16,573)
26
(14,481)
(14,500)
Total Other Financing Sources (Outgo)
(16,573)
(14,455)
(14,500)
45,686
8,432
65,503
548
548
8,980
46,234
8,980
74,483
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
Total Expenditures
Excess of Revenues Over Expenditures
Other Financing Sources (Outgo)
Net Change to Fund Balance
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
37
2014-15 FINAL BUDGET
BUILDING FUND
V.
BUILDING FUND
This fund accounts for federal, state and local funding for scheduled maintenance, capital
outlay projects, and student transportation fees.
A.
SCHEDULED MAINTENANCE & CAPITAL OUTLAY PROJECTS
The District will fund $350,000 toward Scheduled Maintenance for 2014-15. Major
projects for the year include the Building Re-numbering Project (Aptos), Building
1500/1550/1600 HVAC Projects, Lighting and Lighting Controls replacement project and
smaller projects such as stair & hand rail repairs.
B.
TRANSPORTATION, PARKING & SECURITY
Revenue is generated by parking fees and a transfer-in from the General Fund. These
funds are designated for parking lot security, maintenance, and repairs.
C.
CERTIFICATES OF PARTICIPATION (COPS)
Certificates of Participation (COPS) were sold in 1997-98. The proceeds have been used
for deferred maintenance, upgrading of infrastructure, and purchase and installation of
the Datatel software system.
D.
REDEVELOPMENT AGENCY (RDA) FUNDS
The Final Budget for 2014-15 does not include new RDA funds. The unallocated
reserves for facilities capital outlay projects are $2.2 million.
38
2014-15 FINAL BUDGET
BUILDING FUND
Cabrillo Community College District
Final Budget 2014-15
Building (Funds 41-46)
Budget
2013-14
Revenues
8100: Federal
8600: State
8800: Local
8900: Misc
Total Revenues
Actual
2013-14
Budget
2014-15
0
262,657
696,000
0
958,657
0
644,869
1,556,537
0
2,201,406
0
1,351,131
736,000
0
2,087,131
0
101,878
51,999
14,568
1,638,663
1,007,232
1,726,070
4,540,410
0
75,081
44,219
184,507
1,462,339
790,714
0
2,556,861
0
78,288
49,866
89,500
3,740,998
666,343
4,250,420
8,875,415
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
7000: Reserves
Total Expenditures
Excess of Revenues Over Expenditures
(3,581,753)
Interfund Transfers
Transfers In
Transfers Out
Net Change to Fund Balance
(6,788,284)
550,000
684,774
550,000
0
0
0
(3,031,753)
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
6,431,839
Reserve - Parking Lot - Fund 41
Reserve - Future COPs Projects - 42
Reserve - For Contingency - 43
Reserve - Redevelopment - 44
Reserve - Sched. Maint. Projects - 46
39
(355,455)
329,319
(6,238,284)
3,400,086
6,431,839
0
6,761,158
6,761,158
0
522,874
750,058
0
2,713
2,277,926
369,389
902,269
155,906
170,393
3,637,144
1,895,446
151,165
0
9,820
0
361,889
2014-15 FINAL BUDGET
GENERAL OBLIGATION BOND FUND
VI.
GENERAL OBLIGATION BOND FUND
In June 1998 the voters approved an $85 million General Obligation Bond
(Measure C) on behalf of Cabrillo College.
Sales of Measure C bonds have taken place in increments as funds were needed:
1st Issue (Series A) 1998-99
- $12 million
2nd Issue (Series B) 1999-00
- $30 million
3rd Issue (Series C) 2000-01
- $20 million
Final Issue (Series D) 2001-02
- $23 million
In March 2004 the voters approved a $118.5 million General Obligation Bond
(Measure D) on behalf of Cabrillo College.
Sales of Measure D bonds occurred as follows:
1st Issue (Series A) May 2004
- $60 million
Final Issue (Series B) April 2007 - $58.5 million
As of June 30, 2014 Fund 49 (1st Issue - Series A) was fully spent.
The following key projects were completed in 2013-14:
•
•
•
•
•
Building 800 Remodel (STEM)
Building 600 Classroom Renovation
Building 100 HVAC AC/MDF/IT & Office Renovation
VAPA remediation project (Repairs)
Tech Refresh Project (Phase 1)
The following key projects are included in the Bond Fund for 2014-15:
•
•
•
•
•
Building Re-numbering Project
Building 1500/1550/1600 HVAC Projects
Smart Classrooms
Close out of substantially completed and occupied projects (DSA
closeout)
Building improvements as approved throughout the year
40
2014-15 FINAL BUDGET
GENERAL OBLIGATION BOND FUND
Cabrillo Community College District
Final Budget 2014-15
1998 & 2004 General Obligation Bonds
Bond Funds 47-49 (Combined)
Budget
2013-14
Revenues
8100: Federal
8600: State
8800: Local
Total Revenues
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
Total Expenditures
Excess of Revenues Over Expenditures
Actual
2013-14
Budget
2014-15
0
0
24,000
24,000
0
0
15,294
15,294
0
0
5,100
5,100
0
0
0
363,196
335,178
2,880,230
3,578,604
0
0
0
690,066
1,044,793
2,672,535
4,407,394
0
0
0
31,931
133,948
1,252,915
1,418,794
(3,554,604)
(4,392,100)
(1,413,694)
Other Financing Sources (Outgo)
8940: Sale of Bonds
0
0
0
Interfund Transfers
8900: Transfers In
7300: Transfers Out
0
0
0
0
0
0
Total Other Financing Sources (Outgo)
0
0
0
Net Change to Fund Balance
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
41
(3,554,604)
(4,392,100)
(1,413,694)
6,521,833
0
2,967,229
6,521,833
0
2,129,733
2,129,733
0
716,039
2014-15 FINAL BUDGET
GENERAL OBLIGATION BOND FUND
Cabrillo Community College District
Final Budget 2014-15
1998 General Obligation Bonds
Bond Fund 48 - Measure C
Budget
2013-14
Revenues
8100: Federal
8600: State
8800: Local
Total Revenues
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
Total Expenditures
Excess of Revenues Over Expenditures
Actual
2013-14
Budget
2014-15
0
0
4,000
4,000
0
0
778
778
0
0
100
100
0
0
0
0
41,793
330,940
372,733
0
0
0
0
53,300
190,382
243,682
0
0
0
0
62,704
73,088
135,792
(368,733)
(242,904)
(135,692)
Other Financing Sources (Outgo)
8940: Sale of Bonds
0
0
0
Interfund Transfers
8900: Transfers In
7300: Transfers Out
0
0
0
0
0
0
Total Other Financing Sources (Outgo)
0
0
0
Net Change to Fund Balance
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
42
(368,733)
(242,904)
(135,692)
378,596
378,596
135,692
9,863
135,692
0
2014-15 FINAL BUDGET
GENERAL OBLIGATION BOND FUND
Cabrillo Community College District
Final Budget 2014-15
2004 General Obligation
Bond Fund 49 - Measure D - Series A
Budget
2013-14
Revenues
8100: Federal
8600: State
8800: Local
Total Revenues
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
Total Expenditures
Excess of Revenues Over Expenditures
Other Financing Sources (Outgo)
8940: Sale of Bonds
Actual
2013-14
Budget
2014-15
0
0
4,000
4,000
0
0
2,706
2,706
0
0
0
0
0
0
0
101,729
31,271
1,152,868
1,285,868
0
0
0
82,461
38,162
1,366,701
1,487,324
0
0
0
0
0
0
0
(1,281,868)
(1,484,618)
0
0
0
0
Interfund Transfers
8900: Transfers In
7300: Transfers Out
0
0
0
0
0
Total Other Financing Sources (Outgo)
0
0
0
Net Change to Fund Balance
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
43
(1,281,868)
(1,484,618)
0
1,484,618
1,484,618
0
202,750
0
0
2014-15 FINAL BUDGET
GENERAL OBLIGATION BOND FUND
Cabrillo Community College District
Final Budget 2014-15
2004 General Obligation
Bond Fund 47 - Measure D - Series B
Budget
2013-14
Revenues
8100: Federal
8600: State
8800: Local
Total Revenues
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
Total Expenditures
Excess of Revenues Over Expenditures
Actual
2013-14
Budget
2014-15
0
0
16,000
16,000
0
0
11,810
11,810
0
0
5,000
5,000
0
0
0
261,467
262,114
1,396,422
1,920,003
0
0
0
607,605
953,331
1,115,452
2,676,388
0
0
0
31,931
71,244
1,179,827
1,283,002
(1,904,003)
(2,664,578)
(1,278,002)
Other Financing Sources (Outgo)
8940: Sale of Bonds
0
0
Interfund Transfers
8900: Transfers In
7300: Transfers Out
0
0
0
0
0
0
Total Other Financing Sources (Outgo)
0
0
0
Net Change to Fund Balance
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
44
0
(1,904,003)
(2,664,578)
(1,278,002)
4,658,619
0
2,754,616
4,658,619
0
1,994,041
1,994,041
0
716,039
-This Page Intentionally Left Blank-
45
2014-15 FINAL BUDGET
ENTERPRISE FUNDS – AUXILIARY SERVICES
VII. ENTERPRISE FUNDS – AUXILIARY SERVICES
The Auxiliary Services department combines Bookstore, Food Services and Duplications.
The long term goal of the department is to develop a holistic approach in delivering
services to students. The new combined service unit is tracked through the use of three
enterprise funds: (51) Bookstore, (52) Food Services and (59) Duplications.
BOOKSTORE FUND
The Bookstore Fund is accounted for as an enterprise fund. Enterprise funds require the
accounting of total operating costs (direct and indirect, including depreciation) as well as
the financing or recovery of these costs, primarily through user charges (Budget and
Accounting Manual 2.25).
The bookstore lease/management of operations was awarded to an independent vendor,
Barnes & Noble College, effective April 1, 2013. Under the current contract, for fiscal
year 2014-15, the District will receive $226,000 in guaranteed commissions, or a
percentage of sales, whichever is greater; a $15,000 donation to the Student Senate; a
$2,500 donation to campus-related services; and a utilities reimbursement.
Bookstore sales continue to significantly decline. Based on five years of sales history,
B&N College projected $2.7 million in sales for the first contract year (April 1, 2013March 31, 2014); actual sales were just below $2.1 million. This 22% drop in actual
versus projected gross sales is, based on regional, state and national comparative data,
likely related to online competition. It is also the result of intended reduced costs for
student texts through used, rental, digital, and digital rental product programs. Such a
dramatic drop in sales could result in contract renegotiation related to reduced guaranteed
commissions.
FOOD SERVICE FUND (Cafeteria and Vending Accounts)
On April 2, 2012 the Governing Board approved awarding a contract to Taher, Inc. of
Minnetonka, NM for the operation of the food services for a three-year agreement with
two one-year options to renew. Their contractual arrangement with the college is as
follows:
-
Pay a flat commission of $35,000 per year.
Pay $5,000 per year in equipment use fees.
Pay an additional 50% of profits per year.
Provide $1,500 in co-sponsored catered events to student and college faculty/staff
events.
Provide a $200 annual scholarship.
Make a $75,000 investment in equipment to implement POS system and upgrade Gazebo
and service offerings on the lower campus.
46
2013-14 FINAL BUDGET
ENTERPRISE FUNDS – AUXILIARY SERVICES
Vending Income
Beginning July 1, 2012, a portion of the District Vending/Pepsi Revenue was included as
part of the Final Budget.
DUPLICATIONS FUND
The Duplications Fund is the third Enterprise Fund created to accommodate the structural
changes outlined above. For FY 2014/15, it is anticipated that approximately $136,000 in
Bookstore commission revenue will be expended to support instructional duplications
districtwide. $66,000 will be expended on staff, materials, supplies and duplications
costs. $70,000 will be expended on seven new copier/scanners as year one of a
Districtwide seven year copier replacement program.
47
2014-15 FINAL BUDGET
AUXILIARY SERVICES ENTERPRISE FUNDS
Cabrillo Community College District
Final Budget 2014-15
Auxiliary Services (Bookstore, Food Services, Duplications)
Enterprise Funds (51, 52, 59)
Budget
2013-14
Total Income
Cost of Sales
Actual
2013-14
Budget
2014-15
Gross Profit or (Loss)
568,032
0
568,032
589,815
0
589,815
539,241
0
539,241
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
Total Expenditures
0
159,937
88,531
50,000
20,000
0
318,468
0
176,612
77,226
33,180
1,506
7,576
296,100
0
167,263
73,089
50,000
20,000
70,000
380,352
Excess of Revenues Over Expenditures
249,564
293,715
158,889
Other Financing Sources (Outgo)
Interfund Transfers
8900: Transfers In
7300: Transfers Out
66,058
(85,489)
25,000
(85,489)
136,362
(156,846)
Total Other Financing Sources (Outgo)
(19,431)
(60,489)
(20,484)
Net Change to Fund Balance
230,133
233,226
138,405
1,484,022
1,484,022
1,717,248
1,714,155
1,717,248
1,855,653
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
48
2014-15 FINAL BUDGET
BOOKSTORE FUND
Cabrillo Community College District
Final Budget 2014-15
Bookstore Enterprise Fund (51)
Budget
2013-14
Actual
2013-14
Budget
2014-15
Total Income
Cost of Sales
528,017
0
509,838
0
499,191
Gross Profit or (Loss)
528,017
509,838
499,191
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
Total Expenditures
149,242
83,153
0
10,000
165,719
71,819
156,563
67,377
428
10,000
242,395
237,966
233,940
Excess of Revenues Over Expenditures
285,622
271,872
265,251
Other Financing Sources (Outgo)
Interfund Transfers
8900: Transfers In
7300: Transfers Out
(60,489)
(60,489)
(131,846)
Total Other Financing Sources (Outgo)
(60,489)
(60,489)
(131,846)
Net Change to Fund Balance
225,133
211,383
133,405
1,386,246
1,386,246
1,597,629
1,611,379
1,597,629
1,731,034
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
49
2014-15 FINAL BUDGET
FOOD SERVICES ENTERPRISE FUND
Cabrillo Community College District
Final Budget 2014-15
Food Services Enterprise (Fund 52)
t Budget
9 2013-14
Revenues
8100: Federal
8600: State
8800: Local
Total Revenues
Actual
2013-14
Budget
2014-15
40,000
40,000
40,006
40,006
40,000
40,000
10,000
10,000
10,000
1,078
7,576
8,654
30,000
31,352
30,000
Interfund Transfers
8900: Transfers In
7300: Transfers Out
(25,000)
(25,000)
(25,000)
Total Other Financing Sources (Outgo)
(25,000)
(25,000)
(25,000)
5,000
6,352
5,000
67,033
67,033
73,385
72,033
73,385
78,385
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
Total Expenditures
Excess of Revenues Over Expenditures
10,000
Other Financing Sources (Outgo)
Net Change to Fund Balance
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
50
2014-15 FINAL BUDGET
OTHER ENTERPRISE FUND - DUPLICATIONS
Cabrillo Community College District
Final Budget 2014-15
Other Enterprise Fund - Duplications (Fund 59)
t
9
Revenues
8100: Federal
8600: State
8800: Local
Total Revenues
Budget
2013-14
Actual
2013-14
Budget
2014-15
15
15
39,971
39,971
50
50
10,695
5,378
50,000
0
10,893
5,407
33,180
0
10,700
5,712
50,000
66,073
49,480
70,000
136,412
(66,058)
(9,509)
(136,362)
Interfund Transfers
8900: Transfers In
7300: Transfers Out
66,058
25,000
136,362
Total Other Financing Sources (Outgo)
66,058
25,000
136,362
0
15,491
0
30,743
30,743
46,234
30,743
46,234
46,234
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
Total Expenditures
Excess of Revenues Over Expenditures
Other Financing Sources (Outgo)
Net Change to Fund Balance
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
51
Cabrillo College
Bookstore - Historical Trends
FY 2007-08 thru 2014-15
Actual
2013-2014
Final
Budget
2014-15
Actual
2007-2008
Actual
2008-2009
Actual
2009-2010
Actual
2010-2011
Actual
2011-2012
Actual
2012-2013
2,162,001
1,070,839
220,183
52,866
63,296
119,239
56,171
178,408
2,065,743
1,208,018
210,080
47,060
111,999
134,414
90,060
256,699
1,810,221
1,073,717
187,232
35,066
124,949
147,638
95,199
382,847
1,606,271
836,031
2,806
24,217
163,100
135,826
99,301
346,430
1,614,273
584,501
5,294
15,610
122,219
133,299
94,613
279,629
1,386,844
439,333
1,574
8,853
82,389
113,652
152,637
278,167
509,838
499,191
3,923,003
4,124,073
3,856,869
3,213,982
2,849,438
2,463,450
509,838
499,191
2,810,284
2,869,933
2,638,616
2,101,721
1,882,380
1,738,050
1,112,719
1,254,140
1,218,253
1,112,261
967,058
725,400
509,838
499,191
484,871
191,246
15,748
198,620
57,852
22,024
14,095
519,840
215,789
11,604
280,307
68,634
22,024
494,390
214,579
13,125
334,216
78,460
22,024
452,139
207,014
8,031
306,291
72,801
22,024
275,664
137,556
6,817
315,745
72,801
22,024
180,263
76,687
43,970
152,156
72,801
22,024
165,719
71,819
156,563
67,377
428
10,000
6,544
7,168
2,630
5,987
5,987
1,163,338
1,078,098
836,594
553,888
237,966
233,940
Income
New Texts
Used Texts
Hardware
Computer Software
Sundries
General Supplies
Sales Non-Merchandise
Other Income
Total Income
Cost of Sales
Gross Profit or (Loss)
-
-
Expenditures
Non-Instructional Salaries
Employee Benefits
Supplies and Materials
Other Oper Expenses
Rent and Utilities
M&O Supplies
M&O Equipment
Bank Loomis
Capital Outlay
Total Expenses
984,456
1,118,198
Other Financing Sources
Transfer In
Transfer Out
Sr. Accounting Specialist
Grounds (M&O/Utilities)
Custodian (M&O)
Duplications
Library Reserve Book Fund (ASCC)
Total Other Financing Sources
Net Change to Fund Balance
Beginning Fund Balance
Ending Fund Balance
(73,386)
(16,935)
(19,184)
(75,394)
(19,463)
(19,184)
(73,641)
(22,400)
(22,278)
(77,069)
(24,464)
(28,133)
(200,000)
(72,249)
(20,625)
(23,748)
(71,411)
(20,625)
(23,748)
(25,000)
(23,489)
(12,000)
(25,000)
(24,846)
(12,000)
(15,000)
(15,000)
(15,000)
(15,000)
(15,000)
(15,000)
(124,505)
(129,041)
(133,319)
(144,666)
(331,622)
(130,784)
(60,489)
(131,846)
(78,404)
(110,503)
(201,158)
40,728
211,383
133,405
1,345,518
1,386,246
1,386,246
1,597,629
1,597,629
1,731,034
(70,000)
3,758
6,901
1,724,924
1,728,682
1,728,682
1,735,583
1,735,583
1,657,179
1,657,179
1,546,676
52
1,546,676
1,345,518
-This Page Intentionally Left Blank-
53
2014-15 FINAL BUDGET
ASSOCIATED STUDENTS FUND
VIII. ASSOCIATED STUDENTS OF CABRILLO COLLEGE (ASCC)
OPERATING FUND
Permitted by California Education Code section 76063, the ASCC Operating Fund is
money held in trust by the District for organized student body association activities. The
District has fiduciary responsibility for these funds.
Revenues to the ASCC Operating fund are mostly generated by the sale of student
activity cards (SAC). Cabrillo College students pay a voluntary $10 fee upon registration
during each term of the academic year. Other funds deposited to this account include
vending machine commissions and contributions from the bookstore.
The revenue supports student services, clubs, cultural events, speakers, college wide
support grants, scholarships, textbook support programs and many other services and
activities to enhance student life and create a sense of belonging.
54
2014-15 FINAL BUDGET
ASSOCIATED STUDENTS FUND
Cabrillo Community College District
Final Budget 2014-15
Associated Students (Fund 71)
t Budget
9 2013-14
Revenues
8100: Federal
8600: State
8800: Local
Total Revenues
Actual
2013-14
Budget
2014-15
293,120
293,120
273,919
273,919
288,000
288,000
12,000
246,870
9,254
229,468
22,250
230,590
258,870
238,722
252,840
34,250
35,197
35,160
Interfund Transfers
8900: Transfers In
7300: Transfers Out
0
(34,250)
0
(34,174)
0
(35,160)
Total Other Financing Sources (Outgo)
(34,250)
(34,174)
(35,160)
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
Total Expenditures
Excess of Revenues Over Expenditures
Other Financing Sources (Outgo)
Net Change to Fund Balance
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
55
0
1,023
0
223,849
223,849
224,872
223,849
224,872
224,872
2014-15 FINAL BUDGET
TRUST & AGENCY FUND
IX.
TRUST & AGENCY FUND
The Trust and Agency Fund was established to account for monies held in a trustee
capacity by the college for individuals, student organizations or clubs. Money is
expended in accordance with procedures established by the entity for which the money is
held in trust.
The Trust and Agency Fund contains accounts where the District is the agent for the
funds. These accounts are not funded from the General Fund. Examples include student
clubs and organizations, Cabrillo Stage, Distinguished Artists, Cabrillo Chorus, pottery
fund, athletic ancillary funds and numerous others. The fund balance is an accumulated
balance of the entities, and is not available to the General Fund.
The transfer out represents the support of the Pino Alto and Catering classified positions
on the college payroll. Continuing from prior year, there will be a 2% administrative fee
charged to all accounts that is based on actual expenses.
56
2014-15 FINAL BUDGET
TRUST AND AGENCY FUND
Cabrillo Community College District
Final Budget 2014-15
Trust and Agency (Fund 79)
t Budget
9 2013-14
Actual
2013-14
Budget
2014-15
Revenues
8100: Federal
8600: State
8800: Local
Total Revenues
1,538,035
1,538,035
1,562,245
1,562,245
1,400,273
1,400,273
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
Total Expenditures
219,767
1,159,840
1,379,607
217,067
1,360,653
1,577,720
211,999
1,096,090
1,308,089
Excess of Revenues Over Expenditures
158,428
(15,475)
92,184
(1,500)
(2,467)
(3,500)
Interfund Transfers
8900: Transfers In
7300: Transfers Out
(138,071)
(117,707)
(130,928)
Total Other Financing Sources (Outgo)
(139,571)
(120,174)
(134,428)
18,857
(135,649)
(42,244)
799,582
799,582
663,933
818,439
663,933
621,689
Other Financing Sources (Outgo)
7600: Student Registration Fees
Net Change to Fund Balance
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
57
2014-15 FINAL BUDGET
SCHOLARSHIP & LOAN TRUST FUND
X.
SCHOLARSHIP & LOAN TRUST FUND
The Scholarship and Loan Trust Fund accounts are for gifts, donations and bequests that
are used for scholarships, grants or loans to students. The majority of income for this
fund comes from the Cabrillo Foundation; the remainder is received from other sources.
The Grove Scholarships were received in the 2008-09 fiscal year. The un-awarded
balance of the Grove Scholarships was returned to the Cabrillo College Foundation on
June 30, 2012. The Osher Scholarship was established through the Foundation beginning
in 2009-10 fiscal year. The High Achievers Scholarship was established in the 2010-11
fiscal year for highly motivated students enrolled in Career Technical Education
programs at Cabrillo.
In the spring of 2012, the Student Emergency Grant was established in the amount of
$20,000. These funds will be disbursed over the next five years (2011-12 through 201516).
In the spring of 2012, two funds were established for Foster Youth: the Foster Youth
Emergency Grant and the Foster Youth Scholarship.
58
2014-15 FINAL BUDGET
SCHOLARSHIP AND LOAN TRUST FUND
Cabrillo Community College District
Final Budget 2014-15
Scholarship and Loan Trust (Fund 75)
Budget
2013-14
Revenues
8100: Federal
8600: State
8800: Local
Total Revenues
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
Total Expenditures
Excess of Revenues Over Expenditures
Other Financing Sources (Outgo)
7000: Grants/Donations/Scholarships
Actual
2013-14
Budget
2014-15
862,861
862,861
778,838
778,838
855,720
855,720
0
0
0
862,861
778,838
855,720
(862,861)
(779,156)
(855,720)
(862,861)
(779,156)
(855,720)
Interfund Transfers
8900: Transfers In
7300: Transfers Out
Total Other Financing Sources (Outgo)
Net Change to Fund Balance
0
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
59
(318)
0
16,522
16,522
16,204
16,522
16,204
16,204
2014-15 FINAL BUDGET
STUDENT FINANCIAL ASSISTANCE FUND
XI.
STUDENT FINANCIAL ASSISTANCE FUND
Student Financial Assistance Funds are designated to account for receiving and
disbursing federal and state-funded student financial aid.
PELL GRANTS - A federal program available to undergraduate students who are
participating in an eligible program and enrolled in three or more units. The amount of
the grant is determined by the student's index number. The 2014-15 Final Budget reflects
the 2014-15 amount authorized by the Department of Education. Augmentations are
received throughout the year.
SEOG - Supplemental Educational Opportunity Grant is a federal program that enables
students with verified exceptional financial needs to pursue their studies at institutions of
higher education. The student must be enrolled at least on a half-time basis, (six or more
units), show evidence of academic progress, and be capable of maintaining good
standing.
EOPS - Extended Opportunity Program and Services is a state grant that is awarded
through the Financial Aid Office to students with verified exceptional need who qualify
under the program guidelines.
CARE - Cooperative Agencies Resources for Education is a state program awarded
through the Financial Aid Office for welfare-dependent single heads of households with
preschool age children.
CAL GRANTS A, B, C – A state funded grant given to students to help pay for college
expenses.
DIRECT LOANS - Direct Loans are made through the William D. Ford Federal Direct
Loan Program which is administered by the U. S. Department of Education. Fall 2010
was the first year of participation in the Federal Direct Loan Program.
• Subsidized Loans – Are for students with demonstrated financial need
• Unsubsidized Loans – Are not based on financial need
60
2014-15 FINAL BUDGET
STUDENT FINANCIAL ASSISTANCE FUND
Cabrillo Community College District
Final Budget 2014-15
Student Financial Assistance (Fund 74)
Budget
2013-14
Actual
2013-14
Budget
2014-15
17,938,166
790,000
60
18,728,226
16,647,701
954,784
80
17,602,565
17,109,263
938,000
80
18,047,343
0
0
0
18,728,226
17,602,565
18,047,343
(18,728,226)
(17,603,609)
(18,047,343)
(18,728,226)
(17,603,609)
(18,047,343)
Revenues
8100: Federal
8600: State
8800: Local
Total Revenues
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
Total Expenditures
Excess of Revenues Over Expenditures
Other Financing Sources (Outgo)
7000: Grants/Donations/Scholarships
Interfund Transfers
8900: Transfers In
7300: Transfers Out
Total Other Financing Sources (Outgo)
Net Change to Fund Balance
0
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
25,327
0
25,327
61
(1,044)
0
25,327
24,283
24,283
24,283
2014-15 FINAL BUDGET
STUDENT REPRESENTATION FEE FUND
XII. STUDENT REPRESENTATION FEE FUND
Permitted by California Education Code section 76060.5, the Student Representation Fee,
one dollar per student per semester, is charged to all students. The use of this fee is
designated for the purpose of providing leadership training for student representatives
and the cost incurred for them to “state their positions and viewpoints before city, county,
and district governments, and before offices and agencies of the state government.”
62
2014-15 FINAL BUDGET
STUDENT REPRESENTATION FEE FUND
Cabrillo Community College District
Final Budget 2014-15
Student Representation Fee (Fund 72)
t
9
Budget
2013-14
Actual
2013-14
Budget
2014-15
-
-
-
-
-
35,000
19,364
25,110
35,000
19,364
25,110
(35,000)
(19,364)
(25,110)
Interfund Transfers
8900: Transfers In
7300: Transfers Out
35,000
(2,450)
25,541
(1,788)
27,000
(1,890)
Total Other Financing Sources (Outgo)
32,550
23,753
25,110
Net Change to Fund Balance
(2,450)
4,389
-
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
85,499
85,499
89,888
83,049
89,888
89,888
Revenues
8100: Federal
8600: State
8800: Local
Total Revenues
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
Total Expenditures
Excess of Revenues Over Expenditures
Other Financing Sources (Outgo)
63
2014-15 FINAL BUDGET
STUDENT CENTER FEE FUND
XIII. STUDENT CENTER FEE FUND
Permitted by California Education Code section 76375, the Student Center Fee is charged
to all students and is designated solely for the purpose of maintaining, operating and
remodeling student activity centers throughout the District. The majority of annual
revenues from this fund have been used to maintain and operate the Student Activity
Center (SAC) East. The fee is $1 per unit for a maximum of $5 per semester, and cannot
exceed $10 per academic year. Some students receiving financial assistance may have
the fee waived.
The 2014-15 Final Budget includes continued support of the transfer out to the General
Fund. This support helps fund the maintenance and operations cost of the SAC East. In
addition, the Dean of Student Services position is currently funded at 10% of full time.
The Student Activities Coordinator position is currently funded at 56% of full time.
Since the fall semester of 2012, the Associated Students of Cabrillo College (ASCC)
Student Senate has been working on a goal to significantly enhance the appearance of the
cafeteria/student center in the 900 building. The project is referred to as the “Cafeteria
Remodel Project.” The Cafeteria Remodel Project includes a new floor, new lighting,
new furniture, bar-height wall countertops with electrical outlets for lap tops, electronic
tablets and smart phones. For this reason, this budget continues to include a significantly
higher expense than in previous years. This expense will be covered from savings
accumulated from previous years. The Cafeteria Remodel Project is projected to be
completed in time for the opening of the fall semester of 2014.
64
2014-15 FINAL BUDGET
STUDENT CENTER FEE FUND
Cabrillo Community College District
Final Budget 2014-15
Student Center Fee (Fund 73)
t
9
Revenues
8100: Federal
8600: State
8800: Local
Total Revenues
Expenditures
1000: Academic Salaries
2000: Non-Instructional Salaries
3000: Employee Benefits
4000: Supplies and Materials
5000: Other Operating Expenses
6000: Capital Outlay
Total Expenditures
Excess of Revenues Over Expenditures
Budget
2013-14
Actual
2013-14
Budget
2014-15
1,800
1,800
166
166
1,700
1,700
35,000
6,162
580,000
621,162
19,498
527
214,164
234,189
12,600
3,400
365,836
381,836
(619,362)
(234,023)
(380,136)
145,000
(106,651)
108,989
(108,034)
110,000
(104,783)
Other Financing Sources (Outgo)
Interfund Transfers
8900: Transfers In
7300: Transfers Out
Total Other Financing Sources (Outgo)
38,349
Net Change to Fund Balance
Beginning Fund Balance
Fund Adjustment
Ending Fund Balance
65
955
5,217
(581,013)
(233,068)
(374,919)
749,953
749,953
516,885
168,940
516,885
141,966
2014-15 FINAL BUDGET
STAFFING SUMMARY - ALL FUNDS
XIV. STAFFING SUMMARY - ALL FUNDS
FULL-TIME EQUIVALENT POSITIONS
(Includes all filled and unfilled budgeted positions)
Fall Sem.
Students
Mgrs/Admin
Contract
Faculty
Adjunct
Faculty
Classified
Staff
Confidential
Staff
Hourly
Employees
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
13,604
14,871
15,231
14,867
14,623
15,157
15,056
16,012
16,900
16,467
15,541
15,030
14,222
13,808
NA
47
44
43
37
37
36
36
38
39
38.5
36
37
33
35.5
36.8
227
235
234
227
211
230
226
225
228
216.5
220
213.50
202.95
200.75
191.75
356
364
405
372
376
367
368
411
436
419
367
377
391
382
383*
234
253
238
217
220
223
233
249
246
241
239
226
203.70
200.68
202.58
12.00
13.75
13.75
12.63
12.63
12.63
12.63
13.50
13.50
12.50
12.50
11.75
11.40
11.40
10.90
570
574
402
382
386
393
440
405
632
283
341
89
101
102
142♦
Information on this chart is based on the Business Office count of FTE positions for the 2014-15 Final
Budget. This includes position changes approved through the August 2014 Board meeting.
It should be noted that the numbers for adjunct faculty and hourly employees are not FTE,
but a headcount of employees in those categories.
Student count based on information published in the Cabrillo College Fact Book
*Adjunct count based on Fall 2014 semester active assignments
♦ Temporary/hourly and student workers as of the payroll period ending July 19, 2014
Updated 08/12/14
66
ATTACHMENTS
A1
A2
September 8, 2014 Board Meeting
Attachment A
2014-15 Base Budget Planning Assumptions (Best, Mid, Worst Case)
2013-14 Structural Deficit
2013-14 Revenue Adjustments
A. Restoration/Growth @ 1.63%
2014-15 Revenue Adjustment
2014-15 Revenue adjustments
A. Permanent Loss of Apportionment Funding (FTES Assumptions 10,675, 10,775,
10,887) with a Deficit factor of 1.25% (funding shortfall)
B. COLA - .85%
C. Restoration/Growth
D. Other, misc. revenue increases
TOTAL Revenue Adjustment
2014-15 Expenditure Adjustments
Full-time Faculty Obligation 2014-15 Funded- FON positions 187.75 (Fall 2014 Estimated FON 176.6)
Vacant base budget faculty position eliminated from the budget
Step, Column, Longevity, etc
Add 12 units for Counseling CG courses
Medical Benefit Increase - 8% (50%-50% cost share = 1/2)
Retiree Medical Benefit Increase
Utilities
PERS
STRS - .63% increase
Net Operating Increases
Reduction in indirect from grants
Labor/Negotiations agreeements (1% ongoing increase all groups)
Total Expenditure Adjustments
Projected 2014-15 Structural Balance (Deficit)*
One-time Reserves used to bridge deficit
Net Deficit for 2014-15
Worst
Case
200,000
Range
MidRange
200,000
Best
Case
200,000
0
0
0
(965,000)
0
0
25,000
(940,000)
(555,000)
430,000
0
50,000
(75,000)
0
450,000
0
75,000
525,000
156,000
156,000
156,000
(4.0)
(430,000)
(21,000)
(400,000)
(50,000)
(100,000)
(33,000)
(167,000)
(150,000)
(100,000)
(482,000)
(1,777,000)
(2,517,000)
(4.0)
(420,000)
(21,000)
(364,000)
105,000
100,000
(28,000)
(160,000)
(103,000)
(67,000)
(462,000)
(1,264,000)
(1,139,000)
(4.0)
(410,000)
(21,000)
(328,000)
105,000
125,000
(23,000)
(153,000)
(75,000)
0
(442,000)
(1,066,000)
(341,000)
(2,517,000)
(1,139,000)
(341,000)
* The ongoing deficit includes the ongoing portion of the salary increase for 2014-15; 1%. Does not include categorical program impacts on the general fund.
The salary/benefit budget includes a credit to the expense lines of $300k for salary/benefit savings.
A3
September 8, 2014 Board Meeting
Attachment B
2014-15 through 2017-18
Base Budget
Planning Parameters
2014-15
Projected
2015-16
Projected
2016-17
Projected
2017-18
Projected
FTES
10,775
Budget
Stability
Difference between ongoing Revenues & Expenses (Structural Deficit)
200,000
(1,139,000)
(1,983,000)
(5,767,000)
?
550,000
(2,000,000)
555,000
?
560,000
?
?
(589,000)
(3,428,000)
(5,207,000)
Change in State Revenue Anticipated
A. Permanent Loss of Apportionment Revenue (FTES Assumptions- MidCase = 10,775 with a 1.25% Deficit Factor
B. COLA @.85%, 1.0%, 1.0%,1.0%
C. Restoration/Growth
D. Other Misc. Revenue increases
Net change in revenue
(555,000)
430,000
0
50,000
(75,000)
Net Increases in Ongoing Expenses
Full-time Faculty Position changes net of retirements & adjunct backfill
Add Counseling Teaching Units for CG 51 Courses
Step, Column, Longevity Increases, etc.
Medical Plan Rate Increase-- 8% (50%-50% cost share in place)
Retiree Benefit Increase
PERS Rate Increase. 0.9%, 1.4%, 2.1%
STRS Rate Increase, 0.63%, 2.48%, 4.33%, 6.18%
Utilities
Net Operating Increases
Reduction in indirect from grants
Labor agreements
Total Expenditure Increases
0
10,400
Budget
Stability?
156,000
(21,000)
(420,000)
(364,000)
105,000
(28,000)
(160,000)
100,000
(103,000)
(67,000)
(462,000)
(1,264,000)
240,000
?
(420,000)
(364,000)
(50,000)
(150,000)
(450,000)
(100,000)
(100,000)
?
?
(420,000)
(364,000)
(50,000)
(460,000)
(795,000)
(100,000)
(150,000)
?
?
(420,000)
(364,000)
(50,000)
(666,000)
(1,100,000)
(100,000)
(150,000)
?
(1,394,000)
?
(2,339,000)
?
(2,850,000)
Budget Reductions
?
?
?
?
Ongoing Shortfall*
(1,139,000)
(1,983,000)
(5,767,000)
(8,057,000)
Operating Reserves available to bridge deficit
Deficit net of One-time funds
(1,139,000)
The salary estimates include an ongoing increase of 1% for all employee groups.
The one-time salary increase of 1.43% is budgeted in the one-time fund.
RDA and EPA revenue shortfalls continue to be a major threat.
A4
Attachment C
September 8, 2014 Board Meeting
ONE-TIME OPERATING RESERVES
Projected
Unrestricted General Fund Ending Fund Balance (base budget, carryover, one-time)
$11,257,000
LESS:
Minimum 5% Reserve
FTES Reserve balance
One-time new and carryover allocations
Base/Carryover allocations
(3,000,000)
(312,000)
(1,798,000)
(3,566,000)
Reserves needed to balance 2014-15 budget
($1,139,000)
?
?
?
*Increase in SSSP Match
Program Planning Funding for 2014-15
Other
Projected Operating Reserves available in 2014-15
$1,442,000
FTES Reserve Balance
Balance as of 6/30/14
$596,838
Allocation to fund a portion of the CCFT 1.43% one-time salary increase for 2014-15
Balance of funding available
A5
($284,707)
$312,131