1 / 39

Sequoias Community College District

Sequoias Community College District. 2019-20 Final Budget September 9, 2019. Special Thanks. Leangela Miller-Hernandez Director, Budget & Categorical Accounting. Linda McCauley Chief Accounting Officer. Karen Pauls Executive Assistant. Recap - FY 2018-19 ( Unrestricted Only).

gabriella
Télécharger la présentation

Sequoias Community College District

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Sequoias Community College District 2019-20 Final Budget September 9, 2019

  2. Special Thanks • Leangela Miller-Hernandez • Director, Budget & Categorical Accounting • Linda McCauley • Chief Accounting Officer • Karen Pauls • Executive Assistant

  3. Recap - FY 2018-19 (Unrestricted Only) * Officially Closed: Week of August 19, 2019

  4. Year-End Closing Books FY 2018-19 • Tentative Budget anticipated (close of 2018-19) • $1.5M • Actuals $2.04M • Portions of General Fund Unrestricted District budgets go unspent each year (comprised of over 1,000 account lines) • Various small projects or funds in the unrestricted General Fund were approved for carryover into 2019-20, and will show as unspent at June 30 • Dental & Vision excessive liability of $311K removed • The decision to approve various capital projects and transfer one-time funds: • November 2018 - $4.2M • June 2019 - $2.46M • Final Budget assumes starting the year with 31.53% Fund Balance of $21.9M

  5. Fund Balance * Officially Closed: Week of August 19, 2019

  6. GO Bond Rating Upgrade – Moody’s • Hanford Campus Improvement District No. 1 & Tulare Area Improvement District No. 3 • Upgraded from A1 to Aa3 • sizeable tax bases • district's healthy financial position supported by fiscal prudence • favorable enrollment trends • improved state funding environment • The ratings on all three improvement districts also incorporate their moderate debt and pension burden, low OPEB liabilities, and the above average legal strengths of California CCDs' general obligation bonds

  7. 20% Supplemental • $15,152,685 • 70% Base Allocation • $45,942,866 • 10% Student Success • $6,616,005 Student Centered Funding Formula (SCFF) (Advance - FY 2018-19 Constrained TCR plus 2%) Total FY 2019-20 GF Final Budget $67,711,556 • Pell Grant recipients • CA Promise (BOG) Grant • AB540 Students • ADT, AA/AS • Credit Certificates • Transfers to 4-yr institution • 9-CTE units Completers • Regional living wage • Transfer level math and English • (Average of 3 years) • Basic Allocation (Medium District + 2 Education Centers) • FTES Revenue (Average of 3 years) Access Equity Success

  8. SCFF Data Source For FY 2019-20 average of – PPY (17/18), PY (18/19), CY (19/20) For FY 2019-20 – PY (18/19)

  9. SCFF Data Source For FY 2019-20 average of – PPPY (16/17), PPY (17/18), PY (18/19)

  10. SCFF Calculations- Illustration Purposes Only

  11. Final Budget - Assumptions • Advance: FY 2018-19 (P2) Constrained Total Computational Revenue (TCR) • Not Full Student Center Funding Formula (SCFF) • First Principal Apportionment (P1) – More information • 2.0% Cost of Living Allowance (COLA) • State budget, 3.26% • COS opting to be conservative • First Principal Apportionment (P1) – More information

  12. Final Budget - Assumptions • Full Time Equivalent Students (FTES) • SCFF Formula averages last 3 years of FTES • FY 2018-19 • Funded FTES = 10,165.92 (3-year average) • FY 2018-19 Annual 320 Report • 10,211.42 Reported • Assumes Zero Growth in FY 2019-20

  13. Final Budget - Assumptions • Plant Maintenance & Instructional Support • $123,642 (one-time) • 100% budgeted to scheduled maintenance • Zero to instructional equipment • Received $800,000 of one-time funds in FY 2018-19

  14. Final Budget - Assumptions • Basic Skills Building • COS received approval of design phase funds - Jul 2019 • Design - Aug 2019; Completion - Nov 2019 • Working Drawings – Nov 19 – Jun 2020 • DSA Plan Review – Jun 2020 – Jan 2021 • Formal Construction Bid – Feb 2021 • Construction Schedule – Jun 2021 – Jan 2023 • Demolition of existing buildings SE campus (Buckeye/General Grant) • Summer 2021 • Anticipated Occupancy Spring 2023

  15. Final Budget - Assumptions • PERS/STRS increased costs: • 2019-20 increased costs of $495.5K were already budgeted in advance and are included in final budget for 2019-20 • 2020-21 increased costs of $1M arebudgeted 1 year in advance and are included final budget for 2019-20 • 2021-22 increased costs of $85K are budgeted 2 years in advance and are included in 2019-20 final budget

  16. Final Budget - Assumptions • Only $294.36K remains to be funded for STRS/PERS increases: • Annual increases and costs can vary from year-to-year as COS cost of salaries change, as the state PERS & STRS actuaries perform annual actuarial calculations, and as investment markets fluctuate

  17. PERS & STRS Increased Employer Costs As of August 16, 2019

  18. Enrollment Management - FTES 2018-19 Annual Apportionment Attendance Report (CCFS-320)

  19. FTES Update Historical Perspective

  20. Fiscal Solvency Projections Step and Column Costs(Cost of 1% = information only) Note: negotiated salary increases of 4.0% are included in the final adopted budget for each group

  21. Fiscal Solvency Projections - Revenues • FY 2019-20 • Assume FY18/19 (P2) Constrained TCR; 0 Growth • Assume 2% COLA for 19-20 = $1.328M ongoing • (3.26% COLA was in the Governor’s Budget) • FY 2020-21 • Assume FY18/19 (P2) Constrained TCR; 0 Growth • Assume 1% COLA for 20-21 = $677k ongoing • FY 2021-22 • Assume FY18/19 (P2) Constrained TCR; 0 Growth • Assume 1% COLA for 21-22 = $684k ongoing

  22. Fiscal Solvency Projections - Expenditures • Base Budget augmentations based on mandated increases or other compliance • Tier I = $152K • Base Budget Augmentations approved after May Revise • Tier II = $812.9K

  23. Fiscal Solvency Projections - Expenditures • 17 New Faculty • Estimated at $2.2M • 4.5 Faculty Retirements • Estimated at $665K savings • Pre-budget two years in advance PERS/STRS: • FY 2020-21 • $1M • FY 2021-22 • $85K

  24. Projected Budget - Fiscal Solvency Plan Unrestricted Only0 Growth + 2% COLA (based on FY18/19 Constrained TCR) for 19-200 Growth + 1% COLA (based on 19-20 funding below) for 20-210 Growth + 1% COLA (based on 20-21 funding below)for 21-22

  25. FY 2019-20 Fund Balance - Estimated

  26. 2019-20 Resource Allocations

  27. 2019-20 Resource Allocations

  28. 2019-20 Resource Allocations

  29. 2019-20 Resource Allocations

  30. 2019-20 Resource Allocations

  31. 2019-20 Resource Allocations

  32. 2019-20 Resource Allocations

  33. 2019-20 Resource Allocations

  34. Categorical/Restricted Programs

  35. Farm Budgets – Agriculture Instruction

  36. Farm Budgets – Farm Funds

  37. Budget Recap • FY 2018-19 • Final Ending Fund Balance (Officially Closed) • $21.9M • 31.53% EFB • FY 2019-20 • Advance FY 2018-19 P2 TCR Constrained • COLA of 2% • Chancellor’s Office @ P1 – February 2020 • $23.03M • 32.50% EFB • Continue to Monitor and Disseminate Information

  38. Final Adopted Budget Questions / Comments? FINAL Budget Presented for Board Approval

More Related