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Financial Overview

Financial Overview . Linn-Benton Community College August 2, 2010. Community College Finance. More students = less $$ per student How a 3% increase in taxes can equal no additional funds 3+5=4+4 National and Oregon economies slow recovery = A new normal. Micro Economics. Cows –B/E 3 years

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Financial Overview

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  1. Financial Overview Linn-Benton Community College August 2, 2010

  2. Community College Finance • More students = less $$ per student • How a 3% increase in taxes can equal no additional funds • 3+5=4+4 • National and Oregon economies slow recovery = A new normal

  3. Micro Economics • Cows –B/E 3 years • Pigs – B/E 2 years • Sheep- B/E 1 year • Options • Stay same • Finance growth “pay as you go” • Finance growth with borrowing

  4. Micro Economics-The Commons

  5. Macro Economics- The Commons

  6. Macro Finance

  7. Distribution formulaThe CCSF “Commons”

  8. Distribution formula

  9. Back to the Farm • New assumptions-growth has over utilized the commons • Not enough grass to feed everyone's herds • What was once thought to be a drought is now “climate change” • Response must change

  10. Macro Finance

  11. TPR per FTE

  12. TPR per FTE-Inflation adjusted

  13. Two sides of the coin • Public good – Private Good

  14. Continuing Service Level

  15. What is the budget? • General Fund • Auxiliary Fund • Special Revenue Fund • Debt • Capital Projects/Reserves • Financial Aid • Enterprise

  16. All Funds Budget

  17. What about General Fund budget? • State Community College Support Fund • Property Taxes • Tuition • Other • Interest • Transfers-In • Miscellaneous

  18. General Fund Budget-Revenues

  19. General Fund Budget-Resources

  20. Delayed Payment Cash vs Accrual CASH ACCRUAL or RESERVE ODD FISCAL YEAR EVEN FISCAL YEAR

  21. Cut in FY10-11 (estimated)

  22. August 2008 Planning

  23. Why the “New Normal” • National unemployment • Reported 9.5% • Estimated when adding discouraged 16% • Labor Force • Grows 120,000 per month • Private Sector adding 140,000 jobs a month • Gap between peak and today 11,000,000 • If 200,000 jobs added per month- 12 year recovery • If jobs were added at pace of 1990’s- 4 years

  24. State Expenses vs. RevenueBillions

  25. Values, Commitments and Strategic plan Results Ability to respond to opportunities Flexibility & shifting resources Excess budget capacity Dedicated to Growth-Instruction-payas you go Designated Contingency-General Fund-onetime $1.1M FY1011 Auxiliary Revenue Program-payas you go Special Revenue Program- pay as you go • Create opportunities for success-Value • Ability to respond to emerging needs-Strategic Plan

  26. Values, Commitments and Strategic plan Results Physical Madrone Hall White Oak Hall Parking Improvements Fiscal Overall decline in General Fund and grant revenues Spent over 100% of GF salary budget in FY10 Shift of cost from state to student Drew down reserves Cost per FTE is declining Bubble • Create fiscal, physical, and social environments that support student success and a positive workplace climate.-Commitment • Diversify and expand revenue sources, while maintaining conservative spending practices.-Strategic Plan

  27. Grant and Contracts Revenue

  28. Grant and contract RevenuesDiversify Sources

  29. Cost per FTE by Program

  30. Values, Commitments and Strategic plan Results FY10-11 Investments Learners -$100K First year experience Advising Assessment Special accreditation Enrollment On-line services improvement -$150K Revenue Bond election planning and architectural development -$100K • Any available resources should first be invested in efforts related to the strategic plan.

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