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SOCCCD 2009-2010 TENTATIVE BUDGET

SOCCCD 2009-2010 TENTATIVE BUDGET. BOARD OF TRUSTEES MEETING JUNE 22, 2009. SOCCCD: Overview of Fund Structure 2009-10 Tentative Budget. General Fund (GF): $216.8 Million, Including: Unrestricted GF: $198.6 Million Restricted GF: $18.2 Million Other Funds*: $196.8 Million

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SOCCCD 2009-2010 TENTATIVE BUDGET

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  1. SOCCCD2009-2010TENTATIVE BUDGET BOARD OF TRUSTEES MEETING JUNE 22, 2009

  2. SOCCCD: Overview of Fund Structure 2009-10 Tentative Budget • General Fund (GF): $216.8 Million, Including: • Unrestricted GF: $198.6 Million • Restricted GF: $18.2 Million • Other Funds*: $196.8 Million • Total All Funds: $413.6 Million *Other Funds Include: Community Education, Child Development, Capital Outlay (Including Basic Aid Projects), Debt Service, Self-Insurance, & Retiree Benefit Funds

  3. State Budget Conference Committee Proposals • Revenue Additions • $130M = Stimulus Money • $80M = Student Fee Increase (current rate is $20/unit proposed rate is $26/unit) • Revenue Applications • $140M to Reduce Categorical Program Cuts • $70M to Reduce General Apportionments Cuts • The effect of the Additions and Applications shown above are reflected in the following slides

  4. State Budget Conference Committee Proposals (cont’d) • Rejects Funding Physical Education and Recreational Classes at the Non Credit Rate • Credit =$4,565/FTES • Non-Credit =$2,745/FTES • No Growth Funding or Cola • Possible Reduction to Base Funding

  5. Categorical Programs • $193M Reduction to Categorical Programs • 0% Cut - Financial Aid Admin and Foster Care Education • 15% Cut – Cal WORKS - $33,247 • 16% Cuts – Have No Flexibility • 19% Cuts -Telecommunication/Technology - $13,694

  6. Categorical Programs (cont’d) • 32% Cuts – Allows Flexibility

  7. Categorical Programs (cont’d) • 100% Cuts • Instructional Equipment - $255,941 • Scheduled Maintenance - $255,964 • Total Amount of Categorical Reductions • $2,184,133

  8. 2009-10 Tentative Budget Assumptions • SB361 Revenue Increase of $13.6 Million • Ongoing - $6.8M • Increase to 2009-2010 base resulting from 2008-2009 growth • One Time - $6.8M • 2008-2009 Growth Not Funded in 2008/2009 DRAC Model • SB361 COLA - 0.0% • Growth Funding - 0.0% • General Fund Unrestricted Ending Balance from 2008-2009 Carried Forward - $20.3M

  9. 2009-10 Tentative Budget Assumptions (cont’d) • $7.5% Reserve for Economic Uncertainties • 8.0% Estimated Increase for Health & Welfare Benefits - to be updated at Final after renewal amounts are known • 0% Property and Liability Insurance – to be updated at Final after renewal amounts are known • Salary Increases: • Faculty and CSEA – 1% in accordance with the contracts • Administrators, Managers, and POA – 0%

  10. “Basic Aid” Receipts * Estimated (exact amounts will not be available until the end of the fiscal year). Per OC Tax Assessor, secured property taxes were estimated to remain constant in 2009-2010 and decrease 7% in 2010-2011. ** Decline due to increased SB361 revenue resulting from enrollment growth.

  11. Basic Aid Funds Included in Budget • $2.5M OPEB (Retiree Benefit Expenses) • $2.4M ATEP Operating Budget • $2.0M ATEP Negotiations • $1.0M ATEP Development • $60K for Legislative Advocacy for Basic Aid issues • $29.77M Funding for Future Capital Projects • Additional projects (not shown above) for Scheduled Maintenance and Technology that total $13.65M will be presented as an agenda item for the July 2009 Board Meeting

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