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CERRITOS COLLEGE 2009-10 PROPOSED ADOPTED BUDGET

CERRITOS COLLEGE 2009-10 PROPOSED ADOPTED BUDGET. SUMMARY. JAMES A. ALBANESE LOLA RIZKALLAH BUSINESS SERVICES SEPTEMBER 2, 2009. GENERAL FUND UNRESTRICTED. 2009-10 BUDGET ASSUMPTIONS.

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CERRITOS COLLEGE 2009-10 PROPOSED ADOPTED BUDGET

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  1. CERRITOS COLLEGE2009-10 PROPOSED ADOPTED BUDGET SUMMARY JAMES A. ALBANESE LOLA RIZKALLAH BUSINESS SERVICES SEPTEMBER 2, 2009

  2. GENERAL FUNDUNRESTRICTED

  3. 2009-10 BUDGET ASSUMPTIONS The Adopted Budget has no COLA, Stability/Restoration or Growth funds. Reduced workload resulted in a loss of $2.8 million in State funds. Marginal revenue reflects an additional loss of $0.6 million in local interest earnings. Marginal expenditures of $2.1 million bring the total reduction to $5.5 million. The budget reflects higher expenditures than revenue by $5.9 million but the District is applying reduction options that were identified in the last fiscal year to close the gap by June 30, 2010.

  4. BEGINNING BALANCE & PROJECTED REVENUE

  5. PROJECTED EXPENDITURES

  6. PROJECTED RESERVES & ENDING BALANCE

  7. PROJECTED REVENUE

  8. PROJECTED EXPENDITURES

  9. GENERAL FUND RESTRICTED-CATEGORICAL

  10. 2009-10 BUDGET ASSUMPTIONS In our planning we are anticipating reductions based on pending detailed information and guidelines from the State. We have not received this information as of 8/20/09.

  11. BEGINNING BALANCE & PROJECTED REVENUE

  12. PROJECTED EXPENDITURES & ENDING BALANCE

  13. PROJECTED REVENUE

  14. PROJECTED EXPENDITURES

  15. CERTIFICATES OF PARTICIPATION FUND

  16. 2009-10 BUDGET ASSUMPTIONS BALANCE FROM THE DISTRICT’S COPS ISSUE: This fund was designated to provide COPS money for major technology and construction/remodeling projects on campus. Currently the remainder of the fund is being utilized to complete PeopleSoft Conversion.

  17. BEGINNING BALANCE & PROJECTED REVENUE

  18. PROJECTED EXPENDITURES & ENDING BALANCE

  19. SPECIAL REVENUE FUND

  20. 2009-10 BUDGET ASSUMPTIONS ESTIMATED REVENUES/EXPENDITURES: This fund was established to account for the financial activities of the following entities with total revenue projected at $5,500,979 • Community Education: $1,894,977 • Contract Education: $1,272,350 • Cosmetology: $197,746 • Culinary Arts: $180,262 • Parking: $1,955,644

  21. BEGINNING BALANCE & PROJECTED REVENUE

  22. PROJECTED EXPENDITURES & ENDING BALANCE

  23. PROJECTED REVENUE

  24. PROJECTED EXPENDITURES

  25. VINTAGE CERRITOSSTUDENT SUCCESS

  26. 2009-10 BUDGET ASSUMPTIONS ESTIMATED REVENUES/EXPENDITURES: This fund was established to account for income generated from ground lease payments received as a result of the senior care project. Funds have been designated to be used exclusively for activities related to student success as designated by the Board. • Revenue: • Ground Lease: $380,267 • James Irvine Foundation: $173,762

  27. 2009-10 BUDGET ASSUMPTIONS • Expenditures: • Sakai r-Smart: $28,000 • Library Information System: $52,297 • James Irvine Foundation: $173,762

  28. BEGINNING BALANCE & PROJECTED REVENUE

  29. PROJECTED EXPENDITURES & ENDING BALANCE

  30. PROJECTED REVENUE

  31. PROJECTED EXPENDITURES

  32. CAPITAL OUTLAY FUND

  33. 2009-10 BUDGET ASSUMPTIONS ESTIMATED REVENUES/EXPENDITURES: This fund was established to account for State Scheduled Maintenance, Hazardous Material Removal, and Construction/Remodeling projects. Other activities include District Match for Instructional Equipment, Library Materials and Physical Plant, Technology Needs and Construction Augmentation.

  34. BEGINNING BALANCE & PROJECTED REVENUE

  35. PROJECTED EXPENDITURES & ENDING BALANCE

  36. PROJECTED REVENUE

  37. PROJECTED EXPENDITURES

  38. REVENUE AND CONSTRUCTION FUND

  39. 2009-10 BUDGET ASSUMPTIONS ESTIMATED REVENUES/EXPENDITURES: This fund was established to track all projects generated by the GO Bond funds. The District has successfully issued $55 million in Series 2009C (funds received June 11, 2009)

  40. BEGINNING BALANCE & PROJECTED REVENUE

  41. PROJECTED EXPENDITURES & ENDING BALANCE

  42. PROJECTED EXPENDITURES

  43. SELF-INSURANCE FUND

  44. 2009-10 BUDGET ASSUMPTIONS ESTIMATED REVENUES/EXPENDITURES: This fund was established in 2004-05 to provide for self-insured risk-management expenses. • Transfers in/Expenditures: $25,000

  45. BEGINNING BALANCE & PROJECTED REVENUE

  46. PROJECTED EXPENDITURES & ENDING BALANCE

  47. STUDENT HEALTH SERVICES FUND

  48. 2009-10 BUDGET ASSUMPTIONS ESTIMATED REVENUES/EXPENDITURES: This fund was established to capture the income and expenditures generated by the Student Health Services Program. This is a self-supporting program. It is estimated that $849,709 will be generated in revenue.

  49. BEGINNING BALANCE & PROJECTED REVENUE

  50. PROJECTED EXPENDITURES & ENDING BALANCE

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