SANTA MONICA COLLEGE
SANTA MONICA COLLEGE
PRESENTATION OF THE 2015-2016
TENTATIVE BUDGET REPORT
TENTATIVE IS….. TENTATIVE!!!
•
Still waiting for P2
•
Year end closing
•
May Revise - Macro view
•
Governor vs. Legislature
•
CAUTION: For these reasons projections may
significantly differ from final allocation
OVERVIEW
•
Governor’s Proposed Budget
•
Tentative Budget
2015-2016
Governor’s May Revise
WARNING: RESULTS MAY VARY
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RECAP OF GOVERNOR’S BUDGET
RECAP OF GOVERNOR’S BUDGET
RECAP OF GOVERNOR’S BUDGET
PROPOSALS NOT INCLUDED
•
Unrestricted
•
$75M for full-time faculty
•
$50M Awards for Innovation
PROPOSALS NOT INCLUDED
•
Restricted
•
$60M Basic skills and student outcomes
•
$2M Basic skills pilot with CSU
•
$15M Institutional effectiveness
•
$500M Adult Ed Block Grant
•
$48M CTE Pathways SB 1070
2015-2016 Tentative Budget
Changes in Revenue
PROJECTED CHANGES IN REVENUE 14-15
TO TENTATIVE PROJECTIONS
$21,250,617
$-231,648
$21,018,969 or 14%
FIVE YEAR REVENUE TREND
Changes in Expenditures
MAJOR CHANGES IN ASSUMPTIONS
•
Vacancy List
•
Past Practice: Fund 50% of the entire list
(Would equate to $3.1M in 15-16)
•
New Practice: Fund $2.5M in salaries and
related benefits. Discount at 66%.
(Equates to
$1.2M)
•
Exception for 2015-2016 is President/Superintendent
MAJOR CHANGES IN ASSUMPTIONS
•
Technology Replacement Plan and Non-Technology Set Aside
•
EMP 13-14 Institutional Objective #2
“To allocate resources sufficient to
support the ongoing maintenance of technology, equipment and
facilities.”
•
Accreditation Standards III.B and III.C
•
District Program Review - 2012 through 2015
•
Technology Replacement Plan: Computers, Projectors, Controllers/Amps,
Doc Cams
•
$1.2M offset by $792K IEBG = Total funding of $418K
•
Non-Technology/TCO Set Aside: Total funding of $500K
PROJECTED CHANGES IN EXPENDITURES
2014-2015 TO TENTATIVE PROJECTIONS
$6,523,469 or 4.2%
$7,880,989
$-1,357,520
FIVE YEAR EXPENDITURE TREND
Changes in Fund Balance
THE “BOTTOM LINE”
FIVE YEAR REVENUE TREND
OTHER ISSUES MOVING FORWARD
•
PERS and STRS increases
•
Built in increases: Step and column, benefits, OPEB, utilities
•
FTES: Cautious optimism
•
Tentative FTES Target: 21,507 Credit (approx. 534 Growth)
•
Structural Surplus/Deficit
Thank You!!!
The Accounting Team with Special Thanks To
Veronica Diaz and Jo Lau
Jocelyn Chong and Al DeSalles
Charlie Yen, Greg Brown and the Facilities
Team
Budget Committee
The presentation provides an overview of Santa Monica College's 2015-2016 tentative budget report, highlighting the Governor's proposed budget, warnings about potential variations, and detailed breakdowns of unrestricted and restricted funds. It emphasizes the tentative nature of the budget and the importance of waiting for the P2 year-end closing. The report covers Proposition 98 funding, ongoing and one-time allocations, and proposals not included in the budget.
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Presentation Transcript
PRESENTATION OF THE 2015-2016 TENTATIVE BUDGET REPORT SANTA MONICA COLLEGE
TENTATIVE IS.. TENTATIVE!!! Still waiting for P2 Year end closing May Revise - Macro view Governor vs. Legislature CAUTION: For these reasons projections may significantly differ from final allocation
OVERVIEW Governor s Proposed Budget Tentative Budget
2015-2016 WARNING: RESULTS MAY VARY Governor s May Revise
GOVERNORS MAY REVISE Proposition 98 Funding at May Revise Record $115B General Fund Budget $70.0 $68.4 $66.3 Prop 98 funding is $68.4B $7.5B increase from 14-15 June Projection ($60.9M) $63.8 $60.9 In Billions $58.9 $2.1B increase from May Revise ($66.3M) $56.6 $57.9 $57.5 Community Colleges share is 11.5% or $7.9B $51.7 System increase of $1.3B or 19.9% From 14-15 Enacted!!! $51.3 $49.2 $49.6 $47.3 No enrollment fee change $45.0 07-08 08-09 09-10 10-11 11-12 12-13 13-14 14-15 AB 14-15 MR 15-16
RECAP OF GOVERNORS BUDGET UNRESTRICTED FUND ONGOING ONE-TIME TOTAL INC. TO BASE - $266.7M $4,984,973 - $4,984,973 ACCESS - $156.5M - 2.54% $2,583,728 - $2,583,728 COLA - $61M - 1.02% $1,161,177 - $1,161,177 CDCP - $49M - 41% PER FTES $244,305 - $244,305 MANDATED COST PAYMENT- $626M - $11,978,846 $11,978,846 TOTAL $8,974,183 $11,978,846 $20,953,029
RECAP OF GOVERNORS BUDGET RESTRICTED FUND ONGOING ONE-TIME TOTAL SSSP - $100M $1,676,414 - $1,676,414 EQUITY - $115M $1,816,390 - $1,816,390 COLA - EOPS/DSPS/CALWOR KS $36,225 - $36,225 INST. BG/SCHED. MAINTENANCE - $2,840,225 $2,840,225 PROP 39 - $39.6M - $739,170 $739,170 TOTAL $3,529,029 $3,579,395 $7,108,424
RECAP OF GOVERNORS BUDGET UNRESTRICTED AND RESTRICTED FUND ONGOING ONE-TIME TOTAL UNRESTRICTED (01.0) $8,974,183 $11,978,846 $20,953,029 RESTRICTED (01.3) $3,529,029 $3,579,395 $7,108,424 TOTAL $12,503,212 $15,558,241 $28,061,453
PROPOSALS NOT INCLUDED Unrestricted $75M for full-time faculty $50M Awards for Innovation
PROPOSALS NOT INCLUDED Restricted $60M Basic skills and student outcomes $2M Basic skills pilot with CSU $15M Institutional effectiveness $500M Adult Ed Block Grant $48M CTE Pathways SB 1070
PROJECTED CHANGES IN REVENUE 14-15 TO TENTATIVE PROJECTIONS 2014-2015 Revenue Projection: Mandated Costs - Past Claims Apportionment - Base Change/CDCP Growth Non-resident Tuition Inflationary Adjustment Deficit Factor net PY Adjustment Lottery Medicare Part D Subsidy Other 149,698,927 10,433,856 5,229,179 2,583,728 1,538,566 1,161,177 187,824 77,165 -231,648 39,122 $21,250,617 $-231,648 $21,018,969 or 14% 2015-2016 Tentative Revenue Projection: 170,717,896
FIVE YEAR REVENUE TREND Revenue $180,000,000 $166,250,000 $152,500,000 $138,750,000 $125,000,000 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016
MAJOR CHANGES IN ASSUMPTIONS Vacancy List Past Practice: Fund 50% of the entire list (Would equate to $3.1M in 15-16) New Practice: Fund $2.5M in salaries and related benefits. Discount at 66%. (Equates to $1.2M) Exception for 2015-2016 is President/Superintendent
MAJOR CHANGES IN ASSUMPTIONS Technology Replacement Plan and Non-Technology Set Aside EMP 13-14 Institutional Objective #2 To allocate resources sufficient to support the ongoing maintenance of technology, equipment and facilities. Accreditation Standards III.B and III.C District Program Review - 2012 through 2015 Technology Replacement Plan: Computers, Projectors, Controllers/Amps, Doc Cams $1.2M offset by $792K IEBG = Total funding of $418K Non-Technology/TCO Set Aside: Total funding of $500K
PROJECTED CHANGES IN EXPENDITURES 2014-2015 TO TENTATIVE PROJECTIONS 2014-2015 Expenditure Projection: 153,834,272 Salary Increase and Related Benefits 2,588,479 Non-Health and Welfare Benefits 1,202,422 Equip., Technology and TCO Replacement Plan 1,012,375 $7,880,989 Step, Column and Longevity 982,162 Vacancy List 742,285 Health and Welfare Incl. Retiree 607,051 OPEB Contribution 500,000 $-1,357,520 Utilities and Insurance 170,844 Supplies and Other Operating 75,371 Decrease in Hourly -654,278 Net Effect of Hiring and Separation -660,628 Others -42,614 $6,523,469 or 4.2% 2015-2016 Tentative Exp. Projection: 160,357,741
FIVE YEAR EXPENDITURE TREND Expenditures $165,000,000 $157,500,000 $150,000,000 $142,500,000 $135,000,000 $127,500,000 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016
THE BOTTOM LINE 2014-2015 Projected 2015-2016 Tentative Beg. Fund Balance $13,971,779 $9,836,434 Structural Surplus/Deficit -$5,724,159 -$606,316 One-Time items $1,588,814 $10,966,471 Ending Fund Balance $9,836,434 $20,196,589 Fund Balance to TTL Expenditures and Transfers 6.39% 12.59%
FIVE YEAR REVENUE TREND Revenue Expenditures $180,000,000 $168,750,000 $157,500,000 $146,250,000 $135,000,000
OTHER ISSUES MOVING FORWARD FTES: Cautious optimism Tentative FTES Target: 21,507 Credit (approx. 534 Growth) PERS and STRS increases 13-14 14-15 15-16 16-17 17-18 18-19 19-20 20-21 STRS 8.25% 8.88% 10.73% 12.58% 14.43% 16.28% 18.13% 19.1% PERS 11.442% 11.77% 11.84% 14.24% 15.84% 17.44% 19.14% 19.64% Built in increases: Step and column, benefits, OPEB, utilities Structural Surplus/Deficit
Thank You!!! The Accounting Team with Special Thanks To Veronica Diaz and Jo Lau Jocelyn Chong and Al DeSalles Charlie Yen, Greg Brown and the Facilities Team Budget Committee
