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Mt. San Jacinto Community College District

Mt. San Jacinto Community College District. 2005-2006 Adopted Budget September 8, 2005. Board of Trustees Eugene V. Kadow Dorothy J. McGargill Ann Motte Gwendolyn Schlange Joan F. Sparkman. Interim Superintendent/President Dr. Richard J. Giese.

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Mt. San Jacinto Community College District

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  1. Mt. San Jacinto Community College District 2005-2006 Adopted Budget September 8, 2005 Board of Trustees Eugene V. Kadow Dorothy J. McGargill Ann Motte Gwendolyn Schlange Joan F. Sparkman Interim Superintendent/President Dr. Richard J. Giese

  2. Mt. San Jacinto College 2005-06 Adopted Budget PRESENTATION OUTLINE • Economic Profile • Enrollment Trend • 2005-06 State Budget for Community Colleges • Impact of State Budget Actions • MSJC Budget Planning Assumptions • Major Funding Issues • Proposed Adopted Budget 2005-06 • General Fund Unrestricted • Categorical Revenues • Child Development Center Fund • Auxiliary Funds • Capital Outlay, Lease Revenue Bond • Revenue and Expense Summary – All Funds Business Services, September 8, 2005

  3. Mt. San Jacinto College 2005-06 Adopted Budget ECONOMIC PROFILE • California’s financial profile continues to improve • Personal income rising • Jobs are up, unemployment is down • Risk of economic downturn exists • Federal Reserve continues to increase interest rates • California real estate market is vulnerable to interest rate increases • Inflation due to cost increases for gas and fuels, insurance and construction raw materials • National and global uncertainty will impact State economy • War • Natural disasters Business Services, September 8, 2005

  4. Mt. San Jacinto College 2005-06 Adopted Budget ENROLLMENT TREND • At P2, MSJC enrollment growth fully funded at 8.04%. (Actual certification will be received in February 2006.) • Chancellor’s Office 2005-06 calculated growth rate for MSJC is 10.83%, third highest in the state. • MSJC Fall 2005 enrollments are flat compared to Fall 2004. • The schedule for Spring and Summer 2006 provides the access needed to achieve target enrollments. • Fall 2005 enrollments are down across the state. Business Services, September 8, 2005

  5. Mt. San Jacinto College Ten Year Revenue Analysis 8,445 8,245 7,630 7,478 7,015 6,721 6,457 5,861 5,265 4,848 COLA 3.06 2.97 2.26 1 .41 4.17 3.87 2.00 0 2.41 4.23 *Enrollment Target = 8,800 FTES Dollar Values are in Millions Credit Full Time Equivalent Student (FTES) Business Services September 8, 2005

  6. Mt. San Jacinto College 2005-06 Adopted Budget STATE BUDGET FOR CALIFORNIA COMMUNITY COLLEGES • No student fee increase • 4.23% Cost of Living Adjustment (COLA) • 3% Growth; 1.73% Categorical Growth • $30M Equalization • $31.4M Partnership for Excellence Restored • $10M Mandate Reimbursement • $10M Nursing Programs • $ 1M California Partnership for Achieving Student Success (CalPASS) • $15.6M Property Tax Backfill Business Services, September 8, 2005

  7. Mt. San Jacinto College 2005-06 Adopted Budget IMPACT OF STATE BUDGET ACTIONS CCCMSJC Cost of Living Adjust (COLA) 4.23% $ 209,624,000 $ 1,445,000 Student Access (Growth) 3% * 136,709,000 2,876,458 Equalization 30,000,000 190,575 PFE Restored 31,400,000 248,245 Mandate Reimbursement 10,000,000 TBD Nursing Programs (One Time) 10,000,000 TBD CalPASS Program 1,000,000 TBD Property Tax Backfill (One Time) 15,600,000 TBD Instructional Equipment Block Grant 27,345,000 207,058 The 2005-06 State budget includes line item appropriations detailed above with direct fiscal impact on MSJC. The allocation mechanism for certain budget line items have not been disclosed and are to be determined (TBD) with distribution language. These will be treated as budget modifications during the fiscal year. * Full growth allocation is not included in the Adopted Budget. Business Services, September 8, 2005

  8. BUDGETING PROCESS PLANNING ASSUMPTIONS Mt. San Jacinto College 2005-06 Adopted Budget • Fiscal Stability is Highest Priority • Prudent Reserve of 6.23%, or $2.5 million • Resource Allocation Linked to Formal Planning: • Education Plan, Master Plan, Facility Master Plan • Budget Committee Recommendations: • Compliance to 50% Law and Full-time Faculty Obligation • Hire 5 FT faculty; 5 FT classified support staff • Fund for enrollment growth and efficiency • Restore cuts to conference, travel and consultant accounts • Maintain program quality w/ instructional equipment upgrades and student access center improvements • Continue with preventive maintenance of physical plant Business Services, September 8, 2005

  9. Mt. San Jacinto College 2005-06 Adopted Budget MAJOR FUNDING ISSUES • Two major construction projects will require District matching funds: • LRC Const/Equipment $1.2 million • Technology Building Const/Equipment l.6 million • Initial Reserves for GASB 43/45 and GASB 16 are reflected in the proposed adopted budget. Full reserve is required in fiscal 2008-09. • Inflation to fuel, insurance and construction raw materials is anticipated. • Maintaining physical plant will require resources. • Chancellor’s Office financial data “second” revisions. Business Services, September 8, 2005

  10. MT. SAN JACINTO COMMUNITY COLLEGE General Fund Unrestricted AVAILABLE FUNDS

  11. MT. SAN JACINTO COMMUNITY COLLEGE General Fund Unrestricted ALLOCATION OF AVAILABLE FUNDS

  12. Mt. San Jacinto College 2005-2006 Adopted Unrestricted General Fund Budget REVENUE TOTAL $41,393,497 EXPENDITURE TOTAL $40,421,476 Adopted 2005-2006 General Fund Reserve $ 500,000 Board Special Reserve Designated $1,405,000 Undesignated $ 795,000 Total $2,700,000 Business Services September 8, 2005

  13. Mt. San Jacinto College 2005-06 Adopted Budget 2005-2006 STATE BUDGET MT. SAN JACINTO COMMUNITY COLLEGECATEGORICAL REVENUE COMPARISONFY2003-2004 ACTUALS; FY2004-2005 ACTUALS; FY2005-2006 ADOPTED Business Services, September 8, 2005

  14. Mt. San Jacinto College 2005-06 Adopted Budget 2005-2006 STATE BUDGET MT. SAN JACINTO COMMUNITY COLLEGECHILD CARE CENTERS REVENUE COMPARISONFY2003-2004 ACTUALS; FY2004-2005 ACTUALS; FY2005-2006 ADOPTED Business Services, September 8, 2005

  15. Mt. San Jacinto College 2005-06 Adopted Budget CAPITAL OUTLAY PROJECTS Learning Resource Center, MVC Construction $ 8,252,867 Equipment 1,412,000 Total $ 9,664,867 District match $ 1,200,000 Currently, the LRC construction is ahead of schedule and under budget. Estimated completion is March, 2006. Occupancy of the LRC will begin in April 2006. Business Services, September 8, 2005

  16. Mt. San Jacinto College 2005-06 Adopted Budget CAPITAL OUTLAY PROJECTS Technology Center, MVC Design $ 442,530 Construction & Equip 10,775,000 Total $11,217,530 Est. District match $ 1,600,000 The Technology Center bidding and construction dates will be set after DSA approval. Estimated start for construction is mid-Spring 2006 with a projected 14 month construction period. Estimated occupancy of the Technology Center is Fall 2007. Business Services, September 8, 2005

  17. Mt. San Jacinto College 2005-06 Adopted Budget APPROPRIATIONS CAPITAL OUTLAY • Sched Maintenance in ’06 $ 0 • Sched Maint & match carryover 26,703 • Hazardous Materials 212,220 • Facility Improvements 302,065 • Xerox Lease 500,000 • Equipment Replacement 75,000 • Lease Revenue Bond Pmt 467,498 • MVC Modular Lease 30,709 State funds for scheduled maintenance continues to decrease. As a result, District expense for maintaining physical plant has increased. Business Services, September 8, 2005

  18. Mt. San Jacinto College 2005-06 Adopted Budget APPROPRIATIONS CAPITAL OUTLAY RESERVE Funds on deposit with State Treasurer for land acquisition, MVC: $1,789,000 • The Board authorized funds on deposit with the State Treasurer for land acquisition, MVC. • These funds are held with the State Treasurer. • Accounting rules require disclosure of these funds on District statements. For clarity, these funds will be accounted for in one fund and in one line item. • Although disclosed on District statements, funds are physically held with State Treasurer. Business Services, September 8, 2005

  19. Mt. San Jacinto College 2005-06 Adopted Budget LEASE REVENUE BOND LEASE REVENUE BOND (Board Resolution 2002/03-234) Projects Funded by Lease Revenue Bond: • Property Acquisitions • Phone Upgrade • HP 9000 Upgrade • Galaxy/One Source Financial Systems • State Treasurer Deposit for MVC • CIS Lab Upgrade Business Services, September 8, 2005

  20. Mt. San Jacinto College 2005-06 Adopted Budget LEASE REVENUE BOND LEASE REVENUE BOND $8,000,000 • First Draw (April 27, 2004) 2,975,072 • Second Draw (June 23, 2004) 600,089 • Total 3,575,161 • Interest Earned (thru June 30, 2005) 73,122 • First Payment FY0304 (Funds 12 & 41) 467,498 • Second Payment FY0405 (Funds 12 & 41) 462,509 • Third Payment FY0506 (Fund 41 only) 467,498 Business Services, September 8, 2005

  21. MSJC 2005-06 Adopted BudgetREVENUE AND EXPENSE SUMMARY-ALL FUNDS Business Services, September 8, 2005

  22. FY 2005-2006 Adopted Budget Expenditures $1,405,000 1% $1,724,026 2% $4,709,670 5% $13,668,046 13% $643,584 1% $7,283,251 7% $154,380 0% $43,031,476 43% $22,926,592 23% $5,204,076 5% Business Services, September 8, 2005

  23. Mt. San Jacinto College 2005-06 Adopted Budget RECOMMENDATION • The proposed Adopted Budget for fiscal year 2005-06 is recommended with the following: • Enrollment target set at 8,800 credit and 360 non-credit FTES • Adopted Budget based on 8,445 credit and 342 non-credit FTES • Budget Base/Revenue Limit = $37,015,000 • In compliance with statutory requirements of the 50 Percent Law and FT Faculty Obligation • 6.23% Contingency & Reserve = $2,700,000 Business Services, September 8, 2005

  24. Mt. San Jacinto College 2005-06 Adopted Budget QUESTIONS Business Services, September 8, 2005

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