Mott Community College
Board of Trustees
Regular Meeting
Monday, February 22, 2016
Room 1301
Regional Technology Center
AGENDA
The mission of Mott Community College is to provide high quality,
accessible, and affordable educational opportunities and services that
cultivate student success and individual development and improve the
overall quality of life in a multicultural community.
226
Board of Trustees
Charles Stewart Mott Community College
Regular Meeting, February 22, 2016
Volume 46
AGENDA
I.
CALL TO ORDER
II.
ADDITIONS TO THE AGENDA
III.
ADOPTION OF THE AGENDA
IV.
SPECIAL PRESENTATIONS
2015-2016 Amended Budget
- Larry Gawthrop, Chief Financial Officer
Higher Learning Commission (HLC) New Standards & Process for Compliance
- Dr. Amy Fugate, Vice-President, Academic Affairs
V.
COMMUNICATIONS
VI.
COMMENTS FROM THE PUBLIC
VII.
APPROVAL OF MINUTES
Approval of Regular Meeting Minutes of January 25, 2016
VIII.
INFORMATIONAL REPORTS
Acceptance of Standing Board Committee Reports:
1. Personnel (Joseph, Norwood, Turner)
2. Finance/Audit (Koegel, Freeman, Snell)
186-186h
Other Reports:
1. 2015-2016 Board Goals & Objectives Ad Hoc Committee
(Turner, Croudy, Freeman)
2. Community College National Legislative Summit (Freeman, Joseph, Turner)
IX.
X.
UNFINISHED BUSINESS
1.61 Amendments to Board Policy Section 1000 (Board Bylaws and
Operations) and Board Policy 2100 (College President)
228
NEW BUSINESS
Consent Agenda:
1.62 Treasurer’s Report for January 2016
229-233
Individual Items:
1.63 2015-2016 Budget Amendment
234-245
227
XI.
ADMINISTRATIVE ITEMS
President’s Report
XII.
MISCELLANEOUS BUSINESS
Comments from Board Members
XIII.
EXECUTIVE SESSION
ADJOURNMENT
246
228
FOR ACTION
Board of Trustees
Charles Stewart Mott Community College
Regular Meeting, February 22, 2016
Volume 46
1.61
Amendments to Board Policy Section 1000 (Board Bylaws and Operations) and Board
Policy 2100 (College President)
At the June 22, 2015 regular meeting of the Mott Community College Board of Trustees, a
2015-2016 Board Goals and Objectives ad hoc committee was appointed to ensure that an
action plan for the future was completed. To aid in the completion of this plan, the
committee reviewed Board Policy Sections 1000 (Board Bylaws and Operations) and Section
2000 (Administration) to determine if any portions of current Board policy warranted
amendments designed to improve Board and administrative effectiveness.
The committee, with the assistance of the President’s office, has conducted a thorough and
extensive review of Sections 1000 and 2000, and has prepared a revised version of the
Sections to be brought forth before the full Board for approval and ratification in
accordance with Board policy.
On the basis of the preceding information, the following resolution is recommended.
Be it Resolved, That
The Charles Stewart Mott Community College Board of Trustees
Accepts the recommendation of the Policy Committee to amend Section 1000 and
Board Policy 2100 of the Board Policy Manual, as detailed in the supplemental
documentation provided.
Reviewed and Submitted By:
_____________________________________
Rafael C. Turner, Chair
2015-2016 Board Goals and Objectives Committee
Date: February 22, 2016
Board Policy Statement Reference: 1800 – Policy Development
General: The Board shall review its policies and shall delete, amend, and supplement existing policies, and/or
adopt new policies, as necessary.
229
FOR ACTION
Board of Trustees
Charles Stewart Mott Community College
Regular Meeting, February 22, 2016
Volume 46
1.62
Treasurer’s Report for January 2016
This resolution is recommended.
Be it Resolved, That
The Charles Stewart Mott Community College Board of Trustees
Receives the financial report of the College for the month of January 2016 as presented by
the Administration.
Reviewed and Submitted By:
_____________________________________
Lawrence A. Gawthrop
Chief Financial Officer
Date: February 22, 2016
Board Policy Statement Reference: 3100 – Budget Adoption
General: The annual budget represents the programmatic direction and vision of the College. It is also
designed to meet both the legal requirements and needs of the College.
230
January Treasurer’s Report
Larry Gawthrop, CPA
Chief Financial Officer
February 22, 2016
Summary of Expenditures:
Month of January Spending:
General Fund:
All Other Funds:
Total:
$
$
$
5,049,369
9,326,307
14,375,676
Comments on General Fund Financial Statements:

Statement of Revenues, Expenditures and Changes in Net Assets
In summary, total revenues for the seven months ended January 31, were
approximately $50.5 million, representing 67.7% of the annual budget, down from
68% a year ago. The most significant change was in the Tuition and fees which is
discussed further below. Expenditures for the seven months ended were $38 million,
which represents 51.2% of the annual budget, compared to $40.8 million and 54.2%,
one year ago.
Revenues
Tuition and fees revenues are $28.8 million, $2.4 million less than last year and 83.3%
of the budget, down from 87.1% a year ago. In addition to the overall budgeted
decline in enrollment, the Fall and Winter 2016 term is down more than anticipated.
The February budget amendment addresses this budget variance
Property taxes collected are roughly $12.4 million. The amount budgeted is $17.7
million, $225 thousand or 1.3% more than the 2014-2015 fiscal year and is based on
final taxable value figures provided by the Genesee County Equalization Department.
State appropriations payments for FY 2015-16 are paid in eleven monthly
installments starting in October. We received our fourth payment of $1.5 million as
expected. The total budgeted amount for the current fiscal year is $16.0 million or
$148 thousand more than last year excluding the UAAL stabilization pass-through.
231
Expenditures
Salaries and Wages are roughly $18.9 million, or 50.9% of the annual budget,
compared to $20.3 million and 54.2% a year ago.
Fringe Benefits are at $8.5 million, or 50.8% of the budgeted amount compared to
$9.1 million and 53.7% of the budget one year ago.
Other Expenditures
A majority of the changes in the Other Expenditure area for January continues to be
a result of decreases in the utilities and insurance expenses, attributable in part to
energy savings, a decrease in operations and communications due to less bad debt
write-offs, and a decrease in contracted services due to budgeted reductions offset by
the payments to Cenergistics for the energy rebate payments on our energy savings.

Balance Sheet
Total Assets are at approximately $24.6 million, up $1.7 million from last January.
The largest differences are a $2.1 million increase in Cash and cash equivalents, a
$765 thousand increase in Due from/(to) other funds, and a $511 thousand increase
in Accounts receivable. The Accounts receivable increase is a result of a decrease in
the allowance for doubtful accounts and an increase third party sponsorship billings.
Due to/Due from Other Funds result from the College maintaining one checking
account for all of its funds; deposits and disbursements. This necessitates the shortterm “loaning” or “borrowing” between the funds throughout the year depending on
which funds revenue or expenditures are being deposited or paid out. Each month
the accounting department clears these “due to’s” and “due from’s” respectively
assigning the activity to the proper fund. However, significant activity can occur after
these transfers are completed, causing large variances when compared to the previous
period.
At roughly $5.5 million, Total Liabilities are down $1.2 million from the prior year.
The most significant changes were decreases in Accounts payable and Accrued
payroll and related liabilities. The accounts payable decrease was substantially the
result of Follet’s invoice being substantially lower than the prior year and the decrease
in the accrued payroll and related liabilities was the result of having less payroll
expenses than the prior year.
Comments on spending from other funds:

Of the roughly $9.3 million expended in the other funds $1.1 million was expended
out of the Maintenance and Replacement and Bond funds, $532 thousand in
depreciation and the remaining $7.7 million out of the Agency, Scholarships, and
Federal Grants, for grant activities and student scholarships.
232
Mott Community College
General Fund
Statement of Revenues, Expenditures and Changes in Net Assets - Modified Accrual
For the 7 Months Ended January 31, 2016
With Comparative Totals at January 31, 2015
FY 2015-2016
Budget
YTD Actuals
as of 01/31/16
YTD Actuals
as of 01/31/15
Actual to
Actual $
Change
Actual to
Actual %
Change
Revenues:
Tuition and fees
Property taxes
State appropriations
State appropriations UAAL Passthrough
Ballenger trust
Grants and other
$
34,598,876 $ 28,830,597 $
17,663,093
12,380,003
15,943,817
5,894,702
31,234,623
11,245,639
5,831,438
$ (2,404,026)
1,134,364
63,264
-7.70%
10.09%
1.08%
2,631,721
1,942,482
1,822,979
1,144,747
1,131,286
1,145,581
950,444
1,103,344
1,045,288
194,303
27,942
100,293
20.44%
2.53%
9.59%
74,602,968
50,526,916
51,410,776
(883,860)
-1.72%
Salaries and wages
Fringe benefits
Fringe benefits UAAL Passthrough
Contracted services
Materials and supplies
Facilities rent
Utilities and insurance
Operations/communications
Transfers out
Equipment and Improvements
37,191,013
16,783,713
18,915,736
8,531,149
20,326,716
9,081,917
2,631,721
5,390,893
2,266,365
174,625
2,802,800
5,221,634
1,659,704
230,500
1,144,747
2,541,238
978,634
112,734
1,685,151
2,646,864
1,450,744
40,850
950,444
2,925,750
1,153,958
118,728
1,808,093
3,124,261
1,165,878
162,715
Total expenditures
74,352,968
38,047,847
40,818,460
2,770,613
6.79%
250,000
12,479,069
10,592,316
1,886,753
17.81%
Total revenues
Expenditures:
Net increase/(decrease) in net
assets
1,410,980
550,768
(194,303)
384,512
175,324
5,994
122,942
477,397
(284,866)
121,865
6.94%
6.06%
-20.44%
13.14%
15.19%
5.05%
6.80%
15.28%
0.00%
74.89%
233
Mott Community College
General Fund
Balance Sheet - Modified Accrual
January 31, 2016
With Comparative Totals at January 31, 2015
As of
January 31
2016
Assets
Current Assets
Cash and cash equivalents
Due from other funds
Accounts receivable - net of allowance
for uncollectible accounts ($4,647,823
for 2015 and $4,212,625 for 2014)
Inventories
Prepaid expenses and other assets
Total Assets
$
20,454,958 $
(1,030,517)
5,027,059
74,972
96,596
As of
January 31
2015
18,378,125 $
(265,205)
4,516,164
48,024
233,021
$
Change
2,076,833
(765,312)
510,895
26,948
(136,425)
$
24,623,068 $
22,910,129 $
$
1,879,898 $
1,193,417
13,832
177,218
2,481,395 $
1,673,581
14,912
151,457
3,264,365
4,321,345
(1,056,980)
Accrued termination pay
2,272,293
2,392,598
(120,305)
Total Liabilities
5,536,658
6,713,943
(1,177,285)
Net Assets
Unrestricted
19,086,410
16,196,186
2,890,224
Total Net Assets
19,086,410
16,196,186
2,890,224
24,623,068 $
22,910,129 $
1,712,939
Liabilities and Net Assets
Current Liabilities
Accounts payable
Accrued payroll and related liabilities
Deposits held for others
Other accrued liabilities
Total Current Liabilities
Total Liabilities and Net Assets
$
1,712,939
(601,497)
(480,164)
(1,080)
25,761
234
FOR ACTION
Board of Trustees
Charles Stewart Mott Community College
Regular Meeting, February 22, 2016
Volume 46
1.63
2015-2016 Budget Amendment
At the regular meeting of the Charles Stewart Mott Community College Board of Trustees on
June 22, 2015, the Board of Trustees adopted the budgets for the 2015–2016 fiscal year. In
compliance with Public Act 621 of 1978, as amended, known as the Uniform Budgeting and
Accounting Act, the Administration has amended the College’s budgets to reflect more current
estimates of revenues and expenditures.
On the basis of the preceding information the following resolution is recommended.
Be it Resolved, That
The Charles Stewart Mott Community College Board of Trustees
Adopts the Budgets as amended for the 2015-2016 fiscal year as shown on pages 235-245.
Reviewed and Submitted By:
_____________________________________
Lawrence A. Gawthrop
Chief Financial Officer
Date: February 22, 2016
Board Policy Statement Reference: 3100 – Budget Adoption
General: The annual budget represents the programmatic direction and vision of the College. It is also designed
to meet both the legal requirements and needs of the College.
(3) Budget revisions will be presented for Board action as necessary, but not less than twice a year, in February
and June.
235
Mott Community College
Larry Gawthrop, CPA
Chief Financial Officer
CM 1026
810-762-0525
February 22, 2016
2015 - 2016 Budget Amendment
The budgets have been prepared in accordance with generally accepted accounting principles
(GAAP) for financial reporting of colleges and universities, and in compliance with the
Uniform Budgeting and Accounting Act of 1978 (Public Act 621 as amended). They are
presented as required in MCC Board Policy #3100: Budget Adoption, statement #3.
Revenues:
General Fund (01)
Tuition and Fees revenue is adjusted downward by $933 thousand or 2.7% from the original
budget. The decrease is due to a higher than anticipated enrollment and contact hour decrease
from the original budget adopted in June 2015. This decrease was largely offset by a reduction
in part-time/overload salary and benefits expense as discussed below. Tuition and fees now
make up 47.4% of total budgeted revenues, adjusted for the UAAL State Pass-Through.
Property Tax as a revenue source remains unchanged and is 24.9% of the total budget,
adjusted for the UAAL State Pass-Through. The operating millage rate for FY15-16 is 1.9896
mills unchanged from last year’s rate.
State Aid is adjusted roughly $70 thousand upward due to the recording of the administrative
fees for the UAAL State Pass-Through. We are anticipating no mid-year cuts or increases in
State funding. State aid as a funding source now represents 22.5% of total budgeted revenues,
adjusted for the UAAL State Pass-Through.
The above three major revenue/funding sources represent 94.8% of the total budget.
The remaining 5.2% of revenue sources include investment earnings distributions from the
Ballenger Trust fund and Grants and Other income (e.g., rental and auxiliary activities)
Total revenues and funding sources excluding the UAAL State Pass-Through are
$935 thousand lower than the original 2015-16 budget.
236
2015 – 2016 Budget Amendment
Page 2
General Fund (01) (continued)
Expenditures:
Salaries and Wages as an expenditure category is 51.7% of the total budget. Fringe Benefits
as an expenditure category are 22.8% of the total expense budget. Total Salaries, Wages
and Fringe Benefits in total equal 74.5% of the college’s expense budget, within the
maximum set by Board Policy. The total combined decrease of about $1.3 million compared
to the original budget for FY15-16 is a combination of work by the college on course section
management affecting wages and fringes, the correction of the retirement choice selections on
overload and adjunct faculty, and less use of student workers.
Contracted Services increased roughly $580 thousand due in part to the payments to
Cenergistics for the sharing in energy savings and temporary positions filled due to leaves of
absences.
Material and Supplies increased approximately $120 thousand, this is a result of budget
transfers between categories.
Utilities and Insurance decreased $139 thousand largely due to the anticipated utility savings
from our contract with Cenergistics.
Operations and Communications decreased roughly $158 thousand from the original
budget as a result of a reduction in the bad debt expense
All other expenditure categories are not being amended significantly. The total dollar
amount of the aggregated adjustments is a decrease of $78 thousand.
Total expenditures are $935 thousand lower, excluding the $3.1 million UAAL expense,
than the 2015-16 original budget, keeping in line with cost containment measures adopted by
the college.
The General Fund Balance is expected to be $6.9 million at June 30, 2016, including an
operating surplus of $250 thousand for the year. The revised ending balance represents 9.3%
of the operating budget, within the Board Policy of 5-10% of General Fund expenditures.
237
2015 – 2016 Budget Amendment
Page 3
Designated Fund (02)
In the Scholarships Fund, a downward adjustment of $20 thousand was made to reflect the
net scholarship activity for the year so far with an offsetting decrease in the transfer from the
General Fund.
The Campus Life Enrichment Fund (CLEF) and Student Clubs were adjusted for lower
student activity fees and reduction in the anticipated future spending for the remaining of the
budget year.
There are no other significant changes to the budget in the Designated Fund.
Auxiliary Fund (03)
Major activities in the Auxiliary Fund are catering, vending, bookstore, and student computer
lab pay for print. Day care activities are now included in the auxiliary fund, which represents
the non-grant funded portion (cash pay). The activity of the day care has increased with the
opening of additional classrooms. The net impact of the general fund is budgeted to be break
even. The revenues and expenditures were adjusted in the other auxiliary areas to reflect
decreases in enrollment and activity. The net effect of these and other immaterial adjustments
decreases the amount transferred to the General Fund from the Auxiliary Fund (03) by
approximately $8 thousand making the total budgeted transfer $579 thousand.
Maintenance and Replacement Fund (72)
Expenditures within the fund account for ongoing capital repairs, deferred maintenance items
and equipment and technology life cycle funding plans—capital items not eligible for funding
from bond proceeds. The most significant changes are the receipt of insurance proceeds and
a decrease in the regularly scheduled transfers for the Student Technology Fee.
Debt Retirement Fund (73)
There are no significant changes.
Building and Site Fund (78 & 83)
Fund 78 accounts for the building and site fund reserves as required by Board Policy #3930—
Fiscal Reserves. This fund reports the installment purchase payments for Lapeer. The ending
fund balance at June 30, 2015 is budgeted to be $1.2 million and meets the Board Policy #3930
range of 1-3% of the college’s depreciated assets.
Fund 83 accounts for the proceeds from Series 2014 Bonds. The amended budget reflects
the expected final spending of these funds by the fiscal year ended June 30, 2016.
238
MOTT COMMUNITY COLLEGE
General Fund (Fund 01)
Amended Budget
Fiscal Year 2015-2016
2015-2016
Original
Budget
2015-2016
Amended
Budget
$ 34,598,876
$ 33,665,891
Property Taxes
17,663,093
17,663,093
-
State Appropriations
15,943,817
16,013,955
70,138
0.44%
UAAL State Pass Through
2,631,721
3,148,057
516,336
19.62%
Ballenger Trust
1,942,482
1,942,482
-
0.00%
Grants and Other
1,822,979
1,750,196
(72,783)
-3.99%
$ 74,602,968
$ 74,183,674
$
(419,294)
-0.56%
$ 37,191,013
19,415,434
5,390,893
2,266,365
174,625
2,802,800
5,221,634
1,659,704
$ 36,583,235
19,280,628
5,968,980
2,386,496
204,625
2,663,817
5,063,517
1,645,246
$
(607,778)
(134,806)
578,087
120,131
30,000
(138,983)
(158,117)
(14,458)
-1.63%
-0.69%
10.72%
5.30%
17.18%
-4.96%
-3.03%
-0.87%
(93,370)
-40.51%
(419,294)
-0.56%
Revenues:
Tuition and Fees
Total Revenues:
Expenditures:
Salaries and Wages
Fringe Benefits
Contracted Services
Materials and Supplies
Facilities Rent
Utilities and Insurance
Operations/Communications
Transfers Out
Equipment and Improvements
$ Change
$
(932,985)
% Change
-2.70%
0.00%
230,500
137,130
$ 74,352,968
$ 73,933,674
$
$
250,000
$
250,000
$
-
0.00%
(250,000)
-
$
$
(250,000)
-
$ 6,857,341
$
-
0.00%
$ 1,743,090
84,291
$ 1,623,208
84,291
$
(119,882)
-
-6.88%
0.00%
$ 1,827,381
$ 1,707,499
$
(119,882)
-6.56%
$
720,774
295,103
25,000
7,500
33,700
50,000
5,000
$ 1,137,077
$
$
$
605,000
236,040
10,000
7,500
33,700
50,000
5,000
947,240
$
(115,774)
(59,063)
(15,000)
(189,837)
-16.06%
-20.01%
-60.00%
0.00%
0.00%
0.00%
0.00%
0.00%
-16.70%
$
690,304
$
760,259
$
69,955
10.13%
Ending Net Assets: $
690,304
$
760,259
$
69,955
10.13%
Total Expenditures:
Surplus/(Deficit):
Budgeted Increase in Fund Balance$
Final Surplus/(Deficit): $
Ending Net Assets: $ 6,857,341
LAPEER*
Revenues:
Tuition and Fees
Grants and Other
Total Revenues:
Expenditures:
Salaries and Wages
Fringe Benefits
Contracted Services
Materials and Supplies
Rent, Utilities and Insurance
Operations/Communications
Transfers to Building & Site
Equipment and Improvements
Total Expenditures:
Surplus/(Deficit):
239
(continued)
2015-2016
Original
Budget
2015-2016
Amended
Budget
$ Change
% Change
LIVINGSTON REGIONAL M-TEC*
Revenues:
Tuition and Fees
Grants and Other
$
799,675
94,950
$
799,675
94,950
$
-
0.00%
0.00%
$
894,625
$
894,625
$
-
0.00%
$
177,248
84,799
349,890
102,000
29,050
-
$
178,786
85,107
357,890
92,400
25,350
4,300
$
1,538
308
8,000
(9,600)
(3,700)
4,300
Total Expenditures:
$
742,987
$
743,833
$
846
0.11%
Surplus/(Deficit):
$
151,638
$
150,792
$
(846)
-0.56%
Ending Net Assets: $
151,638
$
150,792
$
(846)
-0.56%
Total Revenues:
Expenditures:
Salaries and Wages
Fringe Benefits
Contracted Services
Materials and Supplies
Facilities Rent
Operations/Communications
Transfers
Capital Outlay
0.87%
0.36%
2.29%
-9.41%
0.00%
-12.74%
0.00%
0.00%
LAPEER CORPORATE SERVICES *
Revenues:
Tuition and Fees
Grants and Other
Total Revenues:
Expenditures:
Salaries and Wages
Fringe Benefits
Contracted Services
Materials and Supplies
Operations/Communications
Transfers
Total Expenditures:
212,900
10,000
222,900
$
$
$
27,170
9,083
105,915
15,240
10,250
167,658
$
Ending Net Assets: $
Surplus/(Deficit):
*
$
$
$
212,900
10,000
222,900
$
$
$
28,700
9,595
105,915
15,240
10,250
169,700
55,242
$
55,242
$
$
-
0.00%
0.00%
0.00%
$
1,530
512
2,042
5.63%
5.64%
0.00%
0.00%
0.00%
0.00%
1.22%
53,200
$
(2,042)
-3.70%
53,200
$
(2,042)
-3.70%
$
Lapeer, Livingston, and Lapeer Corporate Services budgets are parts of the General Fund budget
240
MOTT COMMUNITY COLLEGE
Designated Fund (Fund 02)
Amended Budget
Fiscal Year 2015-2016
2015-2016
Original
Budget
2015-2016
Amended
Budget
$ Change
% Change
Scholarships:
Revenues:
Mott Memorial Building Rentals
Transfers from General Fund
Total Revenues:
Expenditures:
Athletic Scholarships
Trustee Scholarships
Senior Citizens Scholarships
Presidential Scholarships
Honors Scholarships
Total Expenditures:
Surplus/(Deficit):
$
$
$
$
75,850
508,650
584,500
$
61,700
494,192
555,892
$
209,000
276,000
51,000
8,500
40,000
584,500
$
$
$
209,000
275,000
38,000
6,000
48,000
576,000
$
(14,150)
(14,458)
(28,608)
-18.66%
-2.84%
-4.89%
$
(1,000)
(13,000)
(2,500)
8,000
(8,500)
0.00%
-0.36%
-25.49%
-29.41%
20.00%
-1.45%
$
$
-
$
(20,108)
$
(20,108)
0.00%
Ending Net Assets: $
-
$
-
$
-
0.00%
$
$
84,000
500
84,500
$
$
86,880
900
87,780
$
(2,880)
(400)
(3,280)
$
$
100,000
100,000
$
$
100,000
100,000
$
$
-
0.00%
0.00%
$
(12,220)
$
(15,500)
$
(3,280)
26.84%
175,843
$
190,438
$
14,595
8.30%
110,000
100,000
29,000
239,000
$
(5,273)
(85,000)
(90,273)
-4.57%
-45.95%
0.00%
-27.42%
110,000
135,000
245,000
$
$
(75,000)
(75,000)
-40.54%
0.00%
-23.44%
$
15,273
-164.70%
$
(56,892)
-20.28%
Paid Parking and Student Copy machines:
Revenues:
Paid Parking Fees
Student copy machine fees
Total Revenues:
Expenditures:
Capital Outlay
Total Expenditures:
Surplus/(Deficit):
$
Ending Net Assets: $
-3.31%
-44.44%
-3.74%
Campus Life Enrichment Fund (CLEF) and Student Clubs:
Revenues:
Student Activity Fees
CLEF Allocation Tfrs
Miscellaneous Revenues
$
115,273
185,000
29,000
329,273
$
$
$
185,000
135,000
320,000
$
9,273
$
Ending Net Assets: $
280,471
$
Total Revenues:
Expenditures:
CLEF Allocations
Club Activities
$
$
Total Expenditures:
Surplus/(Deficit):
$
$
(6,000)
223,579
$
241
(continued)
2015-2016
Original
Budget
2015-2016
Amended
Budget
$ 1,473,210
$ 1,473,210
$ 1,435,138
$ 1,435,138
$
$
(38,072)
(38,072)
-2.58%
-2.58%
$
45,000
1,428,210
$ 1,473,210
$
45,000
1,386,502
$ 1,431,502
$
$
(41,708)
(41,708)
0.00%
-2.92%
-2.83%
$
-
$
3,636
$
3,636
0.00%
Ending Net Assets: $
-
$
-
$
-
0.00%
$ Change
% Change
Instructional Technology:
Revenues:
Student Fees
Total Revenues:
Expenditures:
Instructional Technology Support
Transfers to Maint. & Replacement Fund
Total Expenditures:
Surplus/(Deficit):
Designated Projects:
Revenues:
Pierce Community Activity Fund
Total Revenues:
$
$
8,622
8,622
$
$
8,622
8,622
$
$
-
0.00%
0.00%
Expenditures:
Pierce Community Activity Fund
Total Expenditures:
$
$
-
$
$
-
$
-
0.00%
0.00%
$
8,622
$
8,622
$
-
0.00%
Ending Net Assets: $
65,431
$
65,431
$
-
0.00%
Surplus/(Deficit):
Revenues:
College Initiatives
Total Revenues:
$
$
-
$
$
25,000
25,000
$
$
25,000
25,000
0.00%
0.00%
Total Expenditures:
$
$
-
$
$
25,000
25,000
$
$
25,000
25,000
0.00%
0.00%
$
-
$
-
$
-
0.00%
Ending Net Assets: $
-
$
-
$
-
0.00%
$
$
-
$
$
-
$
$
-
0.00%
0.00%
$
$
$
-
$
$
-
$
-
0.00%
0.00%
0.00%
$
-
$
-
$
-
0.00%
$
-
0.00%
Expenditures:
College Initiatives
Surplus/(Deficit):
Revenues:
Rainy Day Fund Transfer
Total Revenues:
Expenditures:
Rainy Day Fund
Transfer to General Fund
Total Expenditures:
Surplus/(Deficit):
Ending Net Assets: $
750,000
$
750,000
242
MOTT COMMUNITY COLLEGE
Auxiliary Fund (Fund 03)
Amended Budget
Fiscal Year 2015-2016
2015-2016
Original
Budget
Revenues:
Catering
Day Care
Vending
Bookstore
Student Computer Lab
$
2015-2016
Amended
Budget
264,000
85,000
540,000
24,000
913,000
$
$
$
267,000
500
36,000
22,000
587,500
913,000
$
Ending Net Assets: $
Total Revenues:
Expenditures:
Catering
Day Care
Vending Supplies
Bookstore Overhead
Student Computer Lab
Transfers to Designated Funds
Transfers to General Fund
Total Expenditures:
Surplus/(Deficit):
$
$
$ Change
% Change
264,550
63,509
77,000
548,008
21,000
974,067
$
$
$
264,550
63,509
300
31,700
10,000
25,000
579,008
974,067
-
$
-
$
-
0.00%
-
$
-
$
-
0.00%
$
$
$
550
63,509
(8,000)
8,008
(3,000)
61,067
0.21%
100.00%
-9.41%
1.48%
-12.50%
6.69%
(2,450)
63,509
(200)
(4,300)
(12,000)
25,000
(8,492)
61,067
-0.92%
100.00%
-40.00%
-11.94%
-54.55%
100.00%
-1.45%
6.69%
243
MOTT COMMUNITY COLLEGE
Maintenance and Replacement Fund (Fund 72)
Amended Budget
Fiscal Year 2015-2016
2015-2016
Original
Budget
Revenues:
Transfer from General Fund
Transfer from Designated Fund(Tech Fee)
Other Revenue
Investment Income
Total Revenues:
Expenditures:
RTC Equipment
Vocational Education Equipment
Instructional Equipment
Vehicle Replacement
Technology Replacement/Upgrade
Technology Fee Equipment
Facilities Master Plan
Other Maintenance Projects
Total Expenditures:
Surplus/(Deficit):
$
2015-2016
Amended
Budget
$ Change
995,854
1,428,210
4,000
$ 2,428,064
$
995,854
1,386,502
14,389
17,828
$ 2,414,573
$
$
$
$
45,768
407,000
14,390
13,747
103,942
45,768
407,000
14,390
8,997
73,676
$
1,584,531
1,596,902
144,306
459,918
$ 2,773,602
133,359
678,018
$ 2,958,110
$
$ (345,538)
$
Ending Net Assets: $ 4,087,378
(543,537)
$ 5,171,789
% Change
(41,708)
14,389
13,828
(13,491)
0.00%
-2.92%
0.00%
345.70%
-0.56%
(4,750)
(30,266)
0.00%
0.00%
0.00%
-34.55%
-29.12%
12,371
0.78%
(10,947)
218,100
184,508
-7.59%
47.42%
6.65%
$ (197,999)
57.30%
$ 1,084,411
26.53%
244
MOTT COMMUNITY COLLEGE
Debt Retirement Funds (Fund 73)
Amended Budget
Fiscal Year 2015-2016
Revenues:
Property Taxes
Interest Income
Bond Premium
Total Revenues:
2015-2016
Original
Budget
2015-2016
Amended
Budget
$ 7,414,579
1,200
237,510
$ 7,653,289
$ 7,414,579
75
237,510
$ 7,652,164
Expenditures:
Administrative Fees
$
2,500
Bond Discount/Deferred Charges
145,042
Interest on Indebtedness
1,624,967
Retirement of Indebtedness
6,190,000
Total Expenditures: $ 7,962,509
Surplus/(Deficit):
$
Ending Net Assest $
(309,220)
430,217
$ Change
$
% Change
$
(1,125)
(1,125)
2,500
145,042
1,624,967
6,190,000
$ 7,962,509
$
-
0.00%
0.00%
0.00%
0.00%
0.00%
$ (310,345)
$
(1,125)
0.36%
$
$
(146,491)
-34.05%
$
283,726
0.00%
-93.75%
0.00%
-0.01%
245
MOTT COMMUNITY COLLEGE
Buildng and Site Fund (Funds 78)
Amended Budget
Fiscal Year 2015-2016
2015-2016
Original
Budget
2015-2016
Amended
Budget
$ Change
% Change
Fund 78 - Building & Site Reserve Fund
Revenues:
Board Policy #3930 Transfer from Fund 01
Investment Income
Total Revenues:
Expenditures:
Lapeer Purchase
Total Expenditures:
Surplus/(Deficit):
$
$
$
100,000
650
100,650
$
$
232,958
232,958
$ (132,308)
Ending Net Assets: $ 1,196,623
$
$
100,000
250
100,250
$
$
232,958
232,958
$
$
$
(400)
(400)
-
0.00%
-61.54%
-0.40%
0.00%
0.00%
$ (132,708)
$
(400)
0.30%
$ 1,196,202
$
(421)
-0.04%
MOTT COMMUNITY COLLEGE
Building and Site Fund (Funds 83)
Amended Budget
Fiscal Year 2015-2016
2015-2016
Original
Budget
2015-2016
Amended
Budget
$ Change
% Change
Revenues:
Investment Income
Total Revenues:
$
11,758
$
635
$
(11,123)
-94.60%
$
11,758
$
635
$
(11,123)
-94.60%
$
3,289,762
$ 3,788,544
$
498,782
15.16%
2,500
2,500
3,292,262
$ 3,791,044
$
498,782
15.15%
$ (3,790,409)
$
(509,905)
15.54%
$
$
(21,055)
-100.00%
Expenditures:
Bond Project Costs
Finance Charges
Total Expenditures:
Surplus/(Deficit):
$
$ (3,280,504)
Ending Net Assets: $
21,055
-
-
0.00%
246
President’s Report
Regular Board of Trustees Meeting
February 22, 2016
1. Executive Summary
2. Introduction of New Hires
3. Upcoming Dates:
*****
February 29, 2016
Legislative Breakfast, 8:00 a.m., Genesee Room
March 10, 2016
MCCA Spring Board of Directors Meeting, Washtenaw
Community College
March 23, 2016
Finance/Audit Committee, 12:00 p.m., CM1019
Personnel Committee, 4:00 p.m., CM1019
March 28, 2016
Committee of the Whole, 6:30 p.m., RTC1301
Board Meeting, 7:30 p.m., RTC1301