Ending Fund Balance (General Fund 10) - Property Tax 8.63%, COLA 6% - - PowerPoint PPT Presentation

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Jan 17, 2024 265 likes •506 views

san jos ever gr een COMMU NI T Y COL L E GEDI S T RI CT D. Smith Ending Fund Balance (General Fund 10) - Property Tax 8.63%, COLA 6% 20% Actual Projected 18% 16.14% 15.89% 15.33% 16% 14.65% 14.80% 14.39% 13.60%

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COMMU NI T Y COL L E GEDI S T RI CT

D. Smith

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9.10% 11.80% 9.70% 10.50% 14.65% 14.80% 8.39% 7.81% 6.22% 10.99% 11.59% 14.39% 16.14% 13.60% 15.89% 14.31% 10.96% 11.87% 12.74% 15.33% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 01/02 02/03 03/04 04/05 05/06 06/07 07/08 08/09 09/10 10/11 11/12 12/13 13/14 14/15 15/16 16/17 17/18 Est.18/19 Est.19/20 Est.20/21 Est.

Ending Fund Balance (General Fund 10) - Property Tax 8.63%, COLA 6%

Projected Actual

1. Based on FY18-19 Tentative Budget Report adjusted for 6% COLA retro to 7/1/17 2. New property tax increase at 8.63% for FY2017-2018 3. New property tax increase at 3.5% in out years 4. On-going COLA at 6% retro to 7/1/17 5. FY2018-2019 and out years medical rates based on SISC estimates 6. Recognizes $2,471,000 in one-time money for FY2018-2019 as projected by Successor Redevelopment Agency

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COMMU NI T YCOL L E GEDI S T R I CT FY2017/18 Estimated Actuals* Percentage FY2018/19 Tentative Budget* Percentage FY2019/20 Estimated Budget* Percentage Beginning Fund Balance $15,591,265 14.3% $12,907,226 11.0% $14,245,883 11.9% Revenues $115,070,361 $121,372,332 $121,886,703 Expenditures $117,754,400 $122,047,458 $122,778,112 Discount Factor $0 ($2,013,783) ($2,025,839) Total Expenditures $117,754,400 $120,033,675 $120,752,273 Net Change in Fund Balance ($2,684,039) $1,338,657 $1,134,430 Ending Fund Balance $12,907,226 11.0% $14,245,883 11.9% $15,380,313 12.7% *As adjusted for estimated FY2017-18 pending contract settlements.

Includes adjusted estimated salary schedule change:

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COMMU NI T YCOL L E GEDI S T R I CT

Pending FY2017/18 Collective Bargaining agreements will be ratified. Property tax growth will be 3.5% in FY2018/19 and the out years. Medical premium increases for Blue Cross and Kaiser will be 8.84% and 15.5% respectively in FY2018/19 and 5.9% and 5.5% in the out years.

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COMMU NI T YCOL L E GEDI S T R I CT

STRS & PERS rate increases will continue to escalate resulting in substantial new costs. The discount factor of unspent allocations will occur at 1.65% in the out years, which are the historical trends. The Tentative Budget does not include a set-aside for additional staffing or future collective bargaining agreements.

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COMMU NI T YCOL L E GEDI S T R I CT

1. Deficit Spending 2. Fund Balance 3. Enrollment 4. Unrestricted General Fund Balance 5. Cash Flow Borrowing 6. Bargaining Agreements 7. Unrestricted General Fund Staffing % 8. Internal Controls

Source: Chancellors Office – California Community Colleges

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9. Management Information Systems
10. Position Control
11. Budget Monitoring
12. Retiree Health Benefits
13. Leadership/Stability
14. District Liability
15. Reporting

Source: Chancellors Office – California Community Colleges

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COMMU NI T YCOL L E GEDI S T R I CT

6,433 6,146 6,056 5,756 5,396 5,427 5,759 6,031 6,374 7,455 7,229 7,233 6,928 6,044 6,178 7,187 7,818 7,654 7,641 6,981 6,543 6,537 6,304 6,272 6,525 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000

Source: Institutional Effectiveness and Student Success

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COMMU NI T YCOL L E GEDI S T R I CT

6,596 6,556 6,185 6,210 5,854 5,770 6,976 7,418 6,346 6,977 6,877 6,648 6,695 6,078 6,401 7,636 8,485 8,496 8,073 7,264 6,804 6,558 6,279 5,752 5,506 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000

Source: Institutional Effectiveness and Student Success

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COMMU NI T YCOL L E GEDI S T R I CT

13,029 12,702 12,241 11,966 11,250 11,197 12,736 13,448 12,720 14,432 14,106 13,881 13,623 12,122 12,579 14,823 16,303 16,149 15,713 14,245 13,347 13,095 12,582 12,024 12,031 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000

Source: Institutional Effectiveness and Student Success

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COMMU NI T YCOL L E GEDI S T R I CT Source: Institutional Effectiveness and Student Success

100 200 300 400 500 600 700 Certificates Degrees CSU Transfers UC Transfers

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COMMU NI T YCOL L E GEDI S T R I CT Source: Institutional Effectiveness and Student Success

100 200 300 400 500 600 700 Certificates Degrees CSU Transfers UC Transfers

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COMMU NI T YCOL L E GEDI S T R I CT Source: Institutional Effectiveness and Student Success

200 400 600 800 1000 1200 1400 Certificates Degrees CSU Transfers UC Transfers

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COMMU NI T YCOL L E GEDI S T R I CT

10.36% 6.17% 1.90% 8.43% 9.26% 9.32% 7.20% 2.93% 2.57% 3.21% 8.47% 10.28% 6.57% 6.18 8.63%

6.02% -3.99%

$M $20M $40M $60M $80M $100M $120M

Property Tax History

Base Property Tax Increase Property Tax Decline

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COMMU NI T YCOL L E GEDI S T R I CT

10.4% 6.2% 1.9% 8.4% 9.3% 9.3% 7.2% 2.9%

6.0%
4.0%

2.6% 3.2% 8.5% 10.3% 6.6% 6.2% 8.63%

8.0%
6.0%
4.0%
2.0%

0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% Percentage Changed in Property Tax

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1.00%

5.28% 6.77% 3.67% 6.02% 2.92%

0.30%

5.36% 7.69% 3.96% 5.87% 4.94% 2.46% 7.31% 8.82% 4.54% 6.46% 7.97% 2.95% 7.83% 10.10% 6.32% 6.04% 8.63% 3.21% 8.47% 10.28% 6.57% 6.19%

2.00%

0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 2012-2013 2013-2014 2014-2015 2015-2016 2016-2017 2017-2018 August November February May June

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COMMU NI T YCOL L E GEDI S T R I CT

1. FY2017/18 estimated actuals projects the ending fund balance is reduced from 14.3% to 11.0%. 2. FY2018/19 as per Tentative Budget, based on all assumptions including 3.5% in new property taxes, projects ending fund balance increase from 11.0% to 11.9%. 3. FY2019/20, as estimated today, projects increases to ending fund balance from 11.9% to 12.7%. 4. The Tentative Budget is ready for Board of Trustee adoption

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Funding Formula Online Education Categorical program consolidation Deferred maintenance and instructional equipment California College Promise

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Governor proposes new formula modified based on feedback Fundamentals

1. 60% base grant, three year FTES rolling average
2. 20% Supplemental Grant: Based on low income eligible

students and specified undocumented students

3. 20% Student Success Incentive Grant: Based on specific

metrics and outcomes

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Two years hold harmless $175M funding on-going $104M one-time for transition

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Senate Budget Committee: Action: Rejected formula, reallocates dollars to other priorities Assembly Senate Subcommittee: Action: Rejected formula, creates formula task force, directs Chancellor’s Office to create formula task force, report back by March 1, 2019

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Online College Senate approves, Assembly rejects Categorical program consolidation Consolidates SSSP, Basic Skills & Student Equity – Approved by both houses Deferred maintenance and instructional equipment Reduced allocation from January to May from $275M to $132M- Senate approves, Assembly proposes $171M California College Promise

$46M approved by both houses
Guidance is under development
Allocation of funds likely in August or September

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Conference Committee reconcile difference Reach agreement with Governor Budget Act becomes law June 30 Board of Trustees adopts Tentative Budget tonight Final Budget presented to Board of Trustees for action September 11, 2018