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MARICOPA COUNTY COMMUNITY COLLEGE DISTRICT FINANCE/BUDGET SUMMARY FOR FISCAL YEAR 2005-2006

MARICOPA COUNTY COMMUNITY COLLEGE DISTRICT FINANCE/BUDGET SUMMARY FOR FISCAL YEAR 2005-2006. By Meleah Cutler Paula Hightower Paige Paynter Tiffany Seybert Jerry Wiegert. Overview.

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MARICOPA COUNTY COMMUNITY COLLEGE DISTRICT FINANCE/BUDGET SUMMARY FOR FISCAL YEAR 2005-2006

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  1. MARICOPA COUNTY COMMUNITY COLLEGE DISTRICT FINANCE/BUDGET SUMMARYFOR FISCAL YEAR 2005-2006

  2. By • Meleah Cutler • Paula Hightower • Paige Paynter • Tiffany Seybert • Jerry Wiegert

  3. Overview • Maricopa County Community College District (MCCCD) currently is comprised of ten colleges and two skill centers. • They offer over 9,834 courses • 3,175 academic courses • 6,659 occupational courses

  4. Budget • Voters approved Proposition 401 (2004) • General Obligations bond in the amount of $951,359,000 • for capital development over the next ten years

  5. Budget Cont. • MCCCD has an adopted budget of $1.1 billion • an increase of $101.2 million over fy 2004-05 • budget is comprised of three current funds • two of which are operating funds • one being plant or capital funds

  6. Operating Costs • current unrestricted fund and revenues are used to cover most of the basic operating costs • include salaries • benefits • utilities • and supplies

  7. This year overall expenditures would include several categories: • Additional contribution of 1.7% in Arizona State Retirement System from 5.7% to 7.4% at a cost of $4.1 million • Fifty-two additional faculty were added for a total cost of $3.8 million • The enhanced access (enrollment growth funding) expenditure was $5.3 million

  8. The Governing Board for MCCCD • consists of a president • a secretary • and three community members

  9. The MCCD District Administration • consists of a chancellor • an acting vice-chancellor for academic affairs • a vice-chancellor for business services • a vice-chancellor for human resources • a vice-chancellor for information technologies • and a vice-chancellor of student development and community affairs

  10. General Fund Operations • district’s main operating budget • most of the money comes from property taxes • tuition • and fees • this fund is 45% of the total district budget • General Fund for 2006 is $491.8 million

  11. Second largest source of revenue • comes from tuition and fees • 2006 are at $123.9 million • which is up approximately $14.8 million from 2005 • the tuition and fees are considerably lower than the four year colleges in this area • has been an increase in enrollment in the community college recently due to tuition costs rising nationwide

  12. Revenue Sources • State aid • $56.9 million for 2006 • interest income • transfers from other funds • carryforward of the fund balance

  13. Auxiliary Fund 1 • part of the General Fund • estimated total need of $55 million • for operating costs for new capital development and technology • increase in salaries and wages • due to the addition of 177.2 new positions • including additional faculty positions

  14. Miscellaneous and transfer funds • uncollected tax liability • enrollment growth program funds • carryforward allocations • operational contingency • transfers to other funds • compensated absences • and tuition waivers

  15. The Current Auxiliary Fund 2 • revenues and expenditures that support a variety of student services and activities • accounts for 10.3% of the total district budget • total adopted budget of $111.9 million • anticipating revenue from Proposition 301 sales tax • approximately $7.1 million

  16. Grants and contracts • Carl Perkins Grant funds • the Department of Education • small business administration grants • the Arizona Department of Commerce • early college high school and teacher prep grants • Title V grants

  17. Restricted Fund 3 • accounts for 14% of the total budget • includes potential financial aid awards • grants • contracts and Proposition 301 sales tax revenues • anticipating revenue from Proposition 301 sales tax of approximately $7.1 million

  18. The Plant Fund • also known as the capital budget fund • accounts for almost 31% of the district’s total budget • amounts to $336.8 million • assumes state aid funding as included in the state appropriated budget • monies are generated from bond programs

  19. Plant Fund Cont. • accounts for capital expenditures for building upgrades and renovation • new construction • capital equipment purchases

  20. Employment Facts • 1,307 residential faculty • 590 males, 717 females • 1,032 White, 65 Black, 143 Hispanic, 45 Asian/Pacific Islander, and 22 Native American • all employee groups • approximately 4,298 employees

  21. The End

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