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CCCSFAAA

CCCSFAAA. December 10, 2011. General Fund Tax Revenues. 5.4%. 7.3%. 5.4%. 5.1%. 1.5%. Budget Outlook. CCC Triggers Tier 1 $30 million apportionment cut $46/unit fee effective summer Tier 2 $72 million apportionment cut. Triggers.

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CCCSFAAA

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  1. CCCSFAAA • December 10, 2011

  2. General Fund Tax Revenues 5.4% 7.3% 5.4% 5.1% 1.5%

  3. Budget Outlook

  4. CCC Triggers • Tier 1 • $30 million apportionment cut • $46/unit fee effective summer • Tier 2 • $72 million apportionment cut Triggers • Higher of LAO and DOF projections of 2011-12 revenue. • If revenues more than $1 billion below, “Tier 1” trigger. • If revenues more than $2 billion below, “Tier 2” trigger. • LAO: $3.8 billion below. • DOF: December 15. • Triggers “pulled” in January.

  5. 2.4% 3.8% -13.3% 1.8% 0.2% Test: 2 2 2 1 2 Susp. 1 2 1 1 2 2 Proposition 98 4.2% 5.2% $4.1b suspension 4.3% 5.0% 4.3% 0.0%

  6. CCC Funding LAO Assumptions; Proposition 98 at 11% + $46/unit $280m $325m $257m $285m (assumestriggers) $330m

  7. CCC Budget ScenariosLAO Prop. 98 Assumptions

  8. “Achieving the dream” isn’t difficult. • full-time status • student cohorts/engagement

  9. CCC Financial Aid

  10. Pell Grants • Record higher education demand and changes in eligibility has program growing faster than expected. • $1.3 billion current year shortfall • House appropriations bill cuts by $3.8b by reducing eligibility: • limit to 6 years (from 9) • cut off students with fewer than 6 units • eliminate “ability to benefit” students • Impact: $419 million cut to California aid, affecting 64,477 students • Disproportionately impacts community college students • Pell is larger than all other aid sources to CCC students, combined

  11. BOG Fee Waiver • 1,154,272 headcount students • $410.7 million • Effective fee rate: $288/FTES • Does it continue to make sense?

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