2014-15 Final Budget Presentation Committee of the Whole October 2, - - PowerPoint PPT Presentation

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Jun 17, 2023 278 likes •408 views

2014-15 Final Budget Presentation Committee of the Whole October 2, 2014 Agenda 2014/15 New Revenue for 2014/15 New Revenue 2014/15 Final Details of the 2014/15 Final Expenditure Budget Budget Contingency Calculation of General

SLIDE 1

2014-15 Final Budget Presentation

Committee of the Whole October 2, 2014

SLIDE 2

New Revenue for 2014/15

Agenda

Details of the 2014/15 Final Expenditure Budget Calculation of General Unrestricted Reserve Increases to Categorical Programs

Categorical Program Increases

2014/15 Final Budget

Contingency Reserve

Committee of the Whole October 2, 2014 2014-15 Final Budget Presentation

2014/15 New Revenue

Future Challenges and Opportunities Challenges & Opportunities

that lie ahead

Budget Allocation Model

Details of Budget Allocation Model

SLIDE 3

RIVERSIDE COMMUNITY COLLEGE DISTRICT FY 2014-2015 Final Budget (In Millions) FY 2014-2015 Unrestricted Resources - New

CCC System RCCD

COLA (.85%) $ 47.3 $ 1.1 Access (2.75%/3.43%) 140.4 4.1 Mandate Block Grant 49.5 1.1 Total $237.2 $ 6.3 Restricted Resources - New Student Success and Support Program $100.0 $ 2.3 Student Success and Support Program – Equity 70.0 1.6 Career Technical Education 50.0 1.2 Deferred Maintenance (No Match Required) 148.0 3.5 Disabled Students Programs and Service (DSP&S) 30.0 0.7 Total $398.0 $ 9.3 Other Apportionment Deferral "Buy Down" $497.8 $19.3

Committee of the Whole October 2, 2014 2014-15 Final Budget Presentation

SLIDE 4

Expenditures FY 2014-15 FY 2013-14 Base Expenditure Budget $ 144.01 Salary Increase (.85%) $ 0.87 Enrollment Management Increase/Assoc. Faculty/Overload Alignment 2.35 Budget Allocation Model - Entity Budget Alignment - Norco College 0.25 Personnel Step/Column/Growth/New/Placement/Classification/Other 1.45 Net Health Benefits (+5.99%) 0.85 Off-Year Board of Trustees Election 0.60 Net General Liability and Property Expense (0.23) STRS Rate Increase (to 8.88%) 0.37 PERS Rate Increase (to 11.77%) 0.09 Utilities 0.40 Contracts and Agreements 0.20 Total Expenditure Adjustments 7.20 FY 2014-15 Base Expenditure Budget $ 151.21

RIVERSIDE COMMUNITY COLLEGE DISTRICT FY 2014-2015 Final Budget

(In Millions)

Committee of the Whole October 2, 2014 2014-15 Final Budget Presentation

SLIDE 5

Unaudited Beginning Balance, July 1 $ 12.74 M Net Reduction to Ending Balance (4.94) M Contingency Reserve – 4.28% of Unrestricted Funds $ 7.80 M Contingency Reserve at 5.0% $ 8.96 M

Committee of the Whole October 2, 2014 2014-15 Final Budget Presentation

FY 2014-2015 Contingency Reserve

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FY 2014-2015 Credit Credit FTES FTES Targets % RCC 14,819.30 53.80% NC 6,362.94 23.10% MVC 6,362.94 23.10% Total 27,545.18 100.00%

Committee of the Whole October 2, 2014 2014-15 Final Budget Presentation

Credit FTES Targets by College FY 2014-2015

SLIDE 7

Committee of the Whole October 2, 2014 2014-15 Final Budget Presentation

Categorical Program Increases

SLIDE 8

Committee of the Whole October 2, 2014 2014-15 Final Budget Presentation

Budget Allocation Model

SLIDE 9

Committee of the Whole October 2, 2014 2014-15 Final Budget Presentation

Budget Allocation Model (cont’d)

SLIDE 10

Expiring Sales Tax and personal Income Tax Rates under

Proposition 30 Beginning in 2016

Multi-year Rate Increases for STRS and PERS
New Apportionment Growth Formula
Impact of Affordable Care Act on District Health Costs
Accreditation Recommendations
Total Cost of Ownership
Technology Plan
Other Post Employees Benefits – Retiree Health Benefits
Expiring Bargaining Unit Agreements
New Facilities Coming Online
“Great Recession” Obligations – La Sierra Fund
Repayment and Golden Handshake Payments

Future Challenges and Opportunities

Committee of the Whole October 2, 2014 2014-15 Final Budget Presentation

SLIDE 11

Questions?

Committee of the Whole October 2, 2014 2014-15 Final Budget Presentation