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2014-2015 Tentative Budget

2014-2015 Tentative Budget. May 16, 2014 Town Hall Meeting Diana Keelen. Agenda. 2013-2014 Estimated Actuals 2014-2015 Governor’s May Revision AVC Deferral Trend 2011-2012 Restoration Revenue Highlights Expenditure Highlights 2014-2015 Antelope Valley College Budget 3 Year Projection.

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2014-2015 Tentative Budget

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  1. 2014-2015 Tentative Budget May 16, 2014 Town Hall Meeting Diana Keelen

  2. Agenda • 2013-2014 Estimated Actuals • 2014-2015 Governor’s May Revision • AVC Deferral Trend • 2011-2012 Restoration • Revenue Highlights • Expenditure Highlights • 2014-2015 Antelope Valley College Budget • 3 Year Projection

  3. 2013-2014 Unrestricted Fund Estimated Actuals • Beginning Fund Balance $ 9,314,447 • Revenues $ 59,069,259 • Expenditures $ 59,124,391 • Ending Fund Balance $ 9,259,316 • Reserve % 15.7% • Surplus (Deficit) ($ 55,132)

  4. 2014-2015 Governor’s May Revision: Community College Picture

  5. AVC Deferral Trend

  6. 2011-2012 Restoration

  7. Revenue Deficits Trend

  8. Revenue Highlights • No growth • 305 FTES in 2011-2012 Restoration • 0.87% COLA • 0.5% Deficit factor • No prior year correction • $46 per credit unit (no increase)

  9. Expenditure/Investment Highlights • Hiring additional instructors and counselors • Hiring classified and CMS positions • Department Chairs (to be negotiated) • Campus Wi-Fi Implementation-Completed before June 2014 • Investment in an Integrated Energy Management System • Resource allocation funds for new budget requests • Negotiating AT& T Cell Tower • Renovation/Update of restrooms, choral, music, and keyboard rooms, T800, student services, elevators & curbs • Investment in professional development • Restoring Academic Senate budget • Integrated Banner enterprise system implementation • RAVE Mobile Safety implementation for disaster preparedness • Ad Astra scheduling system upgrades

  10. AVC 2014-2015 Tentative Budget • Beginning Fund Balance $ 9,259,319 • Revenues $ 61,024,711 • Expenditures $ 61,519,872 • Ending Fund Balance $ 8,764,154 • Reserve % 14.2% • Surplus (Deficit) ($ 495,161)

  11. 3 Year Projection

  12. Summary • California is slowly being restored from the recession • “Wall of Debt” being bought down • Commitment to invest in Education & Public programs as a priority • Stability in funding to Education is being addressed

  13. “If at first the idea is not absurd, then there will be no hope for it.” – Albert Einstein Questions?

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