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FY2013 Budget Forum

FY2013 Budget Forum. May 4, 2012 Mark Yeager, Co-chair, Budget and Planning Committee Myeshia Armstrong, interim CO-CHAIR, BUDGET AND PLANNING COMMITTEE; director of fiscal services Francisco Rodriguez, Superintendent/President. Agenda. Welcome - Mark Yeager

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FY2013 Budget Forum

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  1. FY2013 Budget Forum May 4, 2012 Mark Yeager, Co-chair, Budget and Planning Committee Myeshia Armstrong, interim CO-CHAIR, BUDGET AND PLANNING COMMITTEE; director of fiscal services Francisco Rodriguez, Superintendent/President

  2. Agenda • Welcome - Mark Yeager • 2012-2013 State Budget Status – Myeshia Armstrong • Implications for MiraCosta– Myeshia Armstrong • Budget Process – Mark Yeager • FY13 Budget Assumptions and Reduction Strategies – Myeshia Armstrong, Mark Yeager • Comments from President Rodriguez • Discussion and Q&A – Myeshia Armstrong, Mark Yeager, Dr. Rodriguez

  3. Status of the State Budget

  4. State Budget Gap • Reduced the budget deficit by $9.2 billion • Slow economic recovery persists • State Revenues far less than expected • Governor’s May Revised Budget (May 14) • Governor’s Tax Initiative Proposal (Nov 2012)

  5. The State and MiraCosta • The dire state budget situation has a profound impact on apportionment districts (69/72) • “Basic Aid” status • Local property tax revenues currently greater than formula allocation by approximately $30M • “Fair Share” exposure = $4.3M • Indirect impacts on MiraCosta • Perceptions • Expectations

  6. Implications for MiraCosta • $10 per unit enrollment fee increase from $36-$46, effective Summer 2012 • Potential mid-year impacts • CBO (chief business officers)Funding Task Force reconvened, Jim Austin - participant

  7. FY2010-11 Revenue Sources(General Fund)

  8. FY2010-11 Expense Categories(General Fund)

  9. Revenues & Expenses

  10. Budget Process Role of BPC Preliminary Budget (Feb 2012) Tentative Budget (June 2012) Final Budget Adoption (Sept 2012)

  11. MiraCosta FY13 Budget Assumptions • The goal for FY12-13 is to adopt a balanced budget • 1% increase in property tax revenue • 0% Funded FTE growth • Actual FY10-11 expenditures reviewed against budgeted FY11-12 to determine a target for reductions • Identified $3 million in one-time reduction strategies

  12. Budget Reduction Strategies: Highlights • Program Review to Resource Allocation Process • “Frost” on District Hiring • Divisional Reductions • PARS (2010 & 2011) • Sabbatical Reductions • Health & Benefit Allowance

  13. District’s Guiding Philosophy & Next Steps • Institutional Goal 4: MCCD will maintain high standards of stewardship and fiscal prudence • Now what?

  14. Discussion and Questions Mark Yeager, Co-chair, Budget and Planning Committee Myeshia Armstrong, Interim CO-CHAIR, BUDGET AND PLANNING COMMITTEE; Director of Fiscal Services Francisco Rodriguez, Superintendent/President

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