Revised Budget Forecast Governing Board Study Session April 27, - - PowerPoint PPT Presentation

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Revised Budget Forecast Governing Board Study Session April 27, - - PowerPoint PPT Presentation

Jul 15, 2023 321 likes •427 views

Revised Budget Forecast Governing Board Study Session April 27, 2020 Presented by: Dr. Nic Richmond & Dr. David Bea Objectives Review Short - and Long - Term Implications of COVID-19 Enrollment projections and scenario planning

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SLIDE 1

Revised Budget Forecast

Governing Board Study Session April 27, 2020 Presented by: Dr. Nic Richmond & Dr. David Bea

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Objectives

  • Review Short- and Long-Term Implications of

COVID-19

  • Enrollment projections and scenario planning
  • General economic impacts
  • Fiscal Year 2021 budget adjustments
  • Discuss Governing Board Budget Priorities
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SLIDE 3

Scenario Planning & Enrollment Projections

  • Scenario development
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SLIDE 4

Economic Outlook

  • Declines in industries/sectors
  • Unemployment
  • State budget projections – “skinny” budget and upcoming

adjustments

  • Income and sales taxes
  • Financial markets - losses and interest rate declines
  • Higher education changes
  • Face-to-face, residential, ancillary services
  • Speed of training delivery
  • Support for online delivery
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Budget Projections - Revenues

  • No taxy levy increase
  • Reduced revenues and Expenditure Limitation (EL) impacts
  • Prop 301 (from sales tax)
  • Contractual and non-credit
  • Auxiliary services
  • Tuition Losses
  • International
  • Extended courses/incompletes
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SLIDE 6

Budget Projections - Expenditures

  • Enrollment and classroom funding model
  • Salaries & staffing
  • Avoiding furloughs/layoffs through June 30, 2020
  • Awaiting enrollment and return-to-work realities
  • Recognizing the excellent transition to remote work
  • Capital project plan
  • Prioritizing Centers of Excellence, minimizing other projects
  • Determining long-term needs for physical space and related

maintenance/improvements

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SLIDE 7

Setting the Budget

  • Establishes the maximum spending capacity for the fiscal year
  • Provides reserves
  • Support new or changing priorities
  • Meet enrollment demand
  • Does not require all funds to be expended if fewer programs or

services are needed

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SLIDE 8

Strategies

  • Short-term
  • Expenditure Limitation relief
  • Student assistance
  • Mid-term
  • Known revenue and expenditure adjustments to budget
  • Continued academic program efficiencies
  • Long-term
  • Centers of Excellence
  • Increasing distance learning and remote working
  • Exploring implications of enrollment changes
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SLIDE 9

Discussion

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SLIDE 10