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FY2014-15 Preliminary Budget Information Board Budget Workshop

FY2014-15 Preliminary Budget Information Board Budget Workshop. May 27, 2014. Florida College System Program Fund. $ 1.10 billion GR and Lottery Fund shift of $50.03 million from GR to Lottery $ 841 million tuition and fees (est ., no tuition increase)

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FY2014-15 Preliminary Budget Information Board Budget Workshop

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  1. FY2014-15Preliminary Budget InformationBoard Budget Workshop May 27, 2014

  2. Florida College System Program Fund • $1.10 billion GR and Lottery • Fund shift of $50.03 million from GR to Lottery • $841 million tuition and fees (est., no tuition increase) • $4.8 million to offset FRS employer contribution rate increases • $15.5 million for equity/compression adjustments at 14 colleges • $5 million distributed using the Funding Model Index • $2.0 million to fully fund Operating Costs of New Facilities • Reduction of $4.2 million to selected prior year non-recurring funding at 5 colleges (incl. Sumter Workforce Partnership -$1 million) • Additional $3.3 million for new special projects at 4 colleges

  3. Other Funding Issues • $9.0 million for the Florida Virtual Campus (split with State University System) • $5.0 million for Performance Incentives based on Industry Certifications • Elimination of Northwest Regional Data Center Funding • $1.3 million for 1st Generation Matching Grants

  4. Major Policy Changes(HB 7015– Military and Veteran Support) Education assistance: • Section 1 amends s. 250 10, F. S. to include post-secondary institutions and technical centers in the education assistance program • Extends the education assistance program to include training for industry certifications approved by the Florida Department of Education and continuing education to maintain license certifications or developmental education courses Fee Waiver: • Section 36 implements the “Congressman C. W. Bill Young Veteran Tuition Waiver Program” to waive out-of-state fees for honorably discharged veterans of the US Armed Forces, Reserve Forces or the National Guard who reside in the state while enrolled in a FCS institution, state university and/or technical career center.

  5. Major Policy Changes(HB 851– Postsecondary Education Tuition & Fees) Tuition: • Section 2 • Caps the standard tuition rate at $2.33/contact hour for residents and $6.99 for nonresidents for programs leading to a career certificate or an applied technology diploma • Eliminates the out-of-state fee for adult general education programs • Eliminates statutory rate of inflation increase for workforce education programs • Section 3 • Maintains the standard tuition rate at $71.98/credit hour for residents and $215.94/credit hour for nonresidents for advanced, professional, postsecondary vocational, developmental education and education preparation institute programs • Eliminates statutory rate of inflation increase for FCS institutions

  6. Major Policy Changes(HB 851– Postsecondary Education Tuition & Fees) Tuition: • Section 5 • Requires waiver of out-of state fees for students including undocumented students for immigration purposes if they • Attended a secondary school in the state for 3 years immediately before graduating from High School • Apply for enrollment in a Higher Education institution within 24 months after High School graduation • Submit an official Florida High School transcript as evidence of attendance and graduation • Section 6 • Re-defines “parent” as either or both parents of a student, and now extends to any guardian of a student or any person in a parental relationship to the student • Revises the provision for residency purposes for a child to have lived with an adult relative from 5 years to 3 years immediately before enrollment in a higher education institution.

  7. Major Policy Changes(HB 851– Postsecondary Education Tuition & Fees) Tuition: • Section 6 continued • Prohibits a child who is a US citizen from being denied classification as a resident for tuition purposes based solely upon the immigration status of his/her parent • Revises the provision to allow a person who physically resides in this state to be classified as a resident for tuition purposes if s/he marries a person who meets the 12-month residency requirement and is a legal resident of the State of Florida

  8. Major Policy Changes(HB 5005– State-administered Retirement Systems) Retirement System • Section 4 adjusts the Employer contribution rates paid to the Retiree Health Insurance Subsidy Trust from 1.20 to 1.26%. • Section 5 sets the uniform employer contribution rates and the rates required to address the normal cost and unfunded actuarial liability for each class and subclass of the FRS • No other FRS changes passed the Legislature

  9. Program Funds per FTE by Source Source: http://www.flsenate.gov/UserContent/Topics/IntensiveBudgetReview/AED/DOEAgencyLBR.pdf

  10. Current % of Model Funded Source: http://www.flsenate.gov/UserContent/Topics/IntensiveBudgetReview/AED/DOEAgencyLBR.pdf

  11. FY 2014-15 Appropriations

  12. FY 2014-15 Appropriations - Calculations

  13. FY 2014-15 Appropriations – Special Projects

  14. FY 2014-15 Appropriations – Capital Outlay

  15. FY 2014-15 Sum of the Digits Allocation System Critical

  16. Overarching Goals & Strategies of the FY2014-2015 Annual Plan and Budget Priorities • Empower students to Identify, Plan and Achieve their Goals Increase job placement and college transfer rates • Collaborate and Partner to Achieve the College’s mission Expand Workforce Programs Improve/expand dual enrollment and early college partnerships • Enrich the Quality of the Student Educational Experience Through Excellence in Programs and Services Attract, hire and retain the most talented and qualified faculty and staff • Promote Distinctiveness through Creative Thinking and Innovation Increase and enhance the awareness of the value of the College throughout the district Encourage a culture of experimentation and new ideas in order to grow enrollment

  17. BUDGET PROCESS FY2014-15 • Overview: • Starts with a review of existing budgets to identify potential savings/costs • Program reviews facilitate budget alignment with Annual Plan Strategies • Identification of Cost to Continue and Expansion Requests by division • Managers make presentations to Cabinet (President & VP’s) & Planning Council (Faculty, Staff & Students Representatives) • Cabinet & Planning Council set Annual Plan Priorities to be funded • Budget recommendations to Board • Budget Adoption

  18. BUDGET FACT SHEETFUND 1 – CURRENT OPERATING Revenue 1 Base Budget Revenue $22,577,491 2 Increase from Senate Bill $ 774,590 3 Funding for Sumter Partnership project (non-recurring) ($ 1,000,000) 4 Reduction in gift from Foundation for Sumter Partnership project ($ 96,619) Sub-Total Revenue $ 22,255,462 Personnel Expense 1 Base Budget Faculty & Staff $10,174,156 2 Base Budget Personnel - Other Pooled Positions $ 2,438,248 3 Base Budget Personnel-Benefits FTE $ 3,198,409 4 Open Positions - Include Benefits $ 501,247 5 Temporary - include Benefits $ 473,230 6 Cost to Continue Requests - Includes Benefits $ 42,168 7 New Expansion incl. Academic Affairs Reorg. – incl. Benefits $ 215,988 8 Faculty/Staff Compensation - 1% = $101,742 $ 231,572 9 Faculty Rank & Promotion - Includes Benefits $ 7,340 10 Pay Equity Adjustments - Includes Benefits $ 10,136 11 Compensation Study $ 83,408 12 Overload Increase -(1%=$6,299) $ 0 13 Adjunct Increase - (1%=14,596) $ 0 14 Health Insurance - (6 months of 1% = $6,837) $ 68,366 15 Affordable Care Act Compliance $ 25,000 16 Contingency for Personnel $ 122,516 17 Accrued Annual/Sick/Comp Time $ 99,000 18 Adjustment to Fund Balance for Accrued Time ($ 99,000) Sub-Total Personnel Expense $ 17,591,784 79.04%

  19. BUDGET FACT SHEET FUND 1 – CURRENT OPERATING CONTINUED Current Expense 1 Base Budget Current Expense $4,604,940 2 Cost to Continue Request $ 15,495 3 New Expansion Request $ 29,000 4 Contingency for Current Expense $ 12,743 Sub-total Current Expense $4,662,178 21.95% Capital Outlay 1 Base Budget Capital Outlay $ 1,500 Sub-total Capital Outlay $ 1,500 0.01% TOTAL BUDGET NEEDS $22,255,462 100.00% (DEFICIT)/SURPLUS Estimated ($0)

  20. COST TO CONTINUEOPEN POSITIONS PERSONNEL AS OF 05/21/2014

  21. PROPOSED PERSONNELCOST TO CONTINUE REQUESTS

  22. PROPOSED PERSONNELEXPANSION REQUESTS

  23. PROPOSED PERSONNELEXPANSION REQUESTS - continued

  24. PROPOSED PERSONNELEXPANSION REQUESTS - continued

  25. PROPOSED PERSONNELEXPANSION REQUESTS - continued

  26. PROPOSED PERSONNELEXPANSION REQUESTS - continued

  27. Dr. C. Mojock, President PROPOSED LSSC ACADEMIC AFFAIRS REORGANIZATION Dr. M. Searle, VP Enrollment/Student Affairs Dr. B. Howard, Senior VP Academic Affairs Dick Scott, Senior VP Business Affairs Dr. MJRager Associate VP Workforce & Bacc Programs Dr. G. Sligh Dean Gen Ed & Transfer Programs Open Associate Dean South Lake Campus Dr. E. Jones, Associate Dean Worforce Programs

  28. PROPOSED EMPLOYEE COMPENSATION PLAN

  29. CURRENT EXPENSECOST-TO-CONTINUE REQUESTS

  30. CURRENT EXPENSEEXPANSION REQUESTS

  31. LSSC HISTORY OF TUITION AND FEESCREDIT COURSES (IN-STATE)

  32. DIVISION OF FLORIDA COLLEGESRESIDENT STUDENT FEES FOR FY2013-14CREDIT PROGRAMS

  33. DIVISION OF FLORIDA COLLEGESRESIDENT STUDENT FEES FOR FY2013-14BACCALAUREATE PROGRAMS

  34. Capital Improvement Fund – Status quo with current Capital Improvement Fee Rate Beginning Fund Balance 07/01/2013 $ 913,307 Capital Improvement Fee Revenue $ 629,588 Expenditures Capital Outlay ($ 781,630) Projected Ending Fund Balance 06/30/14 $ 821,273 Requested Expenditure FY 2014/15 ~ $ 978,300

  35. Capital Improvement Fund – OPTIONS • Option 1: Continue investing and reduce Fund Balance, potentially limiting ability to perform necessary maintenance • Option 2: No change in Capital Improvement Fee and forego Capital Improvements • Option 3: Increase Capital Improvement Fee to help counteract reduction in Fund Balance

  36. RECOMMENDATION CAPITAL IMPROVEMENT FEEFY2014-15 • Capital Improvement Fee: • Increase of $2.00 generates ~$164,800 additional revenue for a total of $794,388 annual revenue • Provides Funding for Tech Plan Enhancements for students –e.g. Wi Fi, computer labs, classroom AV. • Replaces unfunded PECO maintenance dollars over the last three years • Allows for minor renovations to accommodate new IT Center • Helps to maintain status quo/stabilize CIF fund balance • ( Note: Foundation lease agreement for the Facilities Building Balloon note is due December 2015 - $775,000)

  37. PROPOSED STUDENT TUITION & FEE RATES *Proposed reduction of the Capital Improvement Fee for the Baccalaureate Program from $18.36 to $9.88. The new total Rate/Credit hour for the Baccalaureate Program would be $121.87 (reduction of 54% for the Capital Improvement Fee resp. 7% overall Fee reduction)

  38. SUMTER WORKFORCE PARTNERSHIP Base Budget Revenue Roll-over funding for Sumter Partnership State $ 784,733 Board Reserves $ 500,000 Foundation $ 50,000 $1,334,733 Personnel Expense Base Budget Faculty & Staff $ 144,240 Base Budget Pooled Positions $ 18,500 Base Budget Benefits $ 40,685 Base Budget Open Positions 5 FT Faculty incl. Benefits $ 263,525 Base Budget Open Position Asst. Director incl. Benefits $ 25,000 Base Budget Open Position FT Admin Support incl. Benefits $ 33,750 $ 525,700 Current Expense Base Budget Current Expense $ 192,033 Capital Outlay Expense $ 192,033 Base Budget Capital Outlay $ 65,000 $ 65,000 Total Budget Needs $ 784,733 (Deficit) / Surplus Estimated $ 550,000

  39. SOUTH LAKE HEALTH PARTNERSHIP Base Budget Revenue Base Budget Revenue –Capital Outlay Appropriations $3,000,000 South Lake Hospital Partnership $1,000,000 LSSC Foundation $1,000,000 LSSC Board Reserves $ 600,000 $5,600,000 Personnel Expense Base Budget Staff: New Director SL Health Partnership $ 60,000 $ 60,000 Current Expense Base Budget Current Expense $ 5,000 $ 5,000 Capital Outlay Expense Base Budget Capital Outlay $ 600,000 $ 600,000 Total Budget Needs $ 665,000 (Deficit) / Surplus Estimated $4,935,000

  40. FY 2014-15 PROPOSED STUDENT ACTIVITY FEES

  41. FUTURE ACTION FOR BOARD MEETING JUNE 17TH 2014 Approve • Current Operating (Fund 1) Budget for FY2014-15 including: Tuition and Fees • Classification and Salary Schedule for FY2014-15 • Capital Projects (Fund 7) Budget for FY2014-15 • Student Activity Budget FY 2014-15

  42. Questions ?

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