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Coconino Community College Budgeting 102

Coconino Community College Budgeting 102. Fall 2013 Budgeting 102. Budget Projections & Assumptions CCC Sustainable Financial Plan & Due Diligence Cost of Academic Programs 2013 Special Override Election. Coconino Community College. Coconino Community College Budgeting 102. Fall 2013

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Coconino Community College Budgeting 102

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  1. Coconino Community CollegeBudgeting 102 Fall 2013 Budgeting 102 • Budget Projections & Assumptions • CCC Sustainable Financial Plan & Due Diligence • Cost of Academic Programs • 2013 Special Override Election Coconino Community College

  2. Coconino Community CollegeBudgeting 102 Fall 2013 Budgeting 102 Budget Projections & Assumptions Coconino Community College

  3. Coconino Community CollegeBase Assumptions: Fall 2013 Budgeting 102 • Revenues: • Property Taxes Collections – 3% per year • Based on legally allowed 2% base growth and 1% attributable to “new construction” • Tuition Revenue – 2% per year • Increase in per credit hour tuition rate (will compound by student growth) • State Aid – 0% per year • Has been falling over time – May increase slightly in FY 2014 • Expenditures: • Enrollment Growth – 1% per year • Cost Inflation – 3% per year • Applies to all categories (will compound by student growth) Coconino Community College

  4. Fall 2013 Budgeting 102 Coconino Community College

  5. Coconino Community CollegeBudgeting 102 Fall 2013 Budgeting 102 CCC Sustainable Financial Plan & Due Diligence Coconino Community College

  6. Ccc’S SUSTAINABLE FINANCIAL PLAN & DUE DILIGENCE Fall 2013 Budgeting 102 Coconino Community College

  7. Ccc’S SUSTAINABLE FINANCIAL PLAN & DUE DILIGENCE Fall 2013 Budgeting 102 Coconino Community College

  8. Coconino Community CollegeBudgeting 102 Fall 2013 Budgeting 102 Cost of Academic Programs Coconino Community College

  9. Fall 2013 Budgeting 102 Coconino Community College

  10. COST OF ACADEMIC PROGRAMSFULL-TIME STUDENT EQUIVALENT (FTSE) COSTS Fall 2013 Budgeting 102 • High vs. lower cost programs • Average cost per full-time student equivalent (FTSE) is $7,000 • The per FTSE cost of a high tech program student is 64% higher than a non high tech program student • Reasons for higher costs: • Specialized equipment • lower student to faculty ratio • More labs Coconino Community College

  11. COST OF ACADEMIC PROGRAMS FULL-TIME STUDENT EQUIVALENT (FTSE) COSTS • Examples of two programs: • Nursing Cost Per FTSE: • Direct instructional costs only $19,800 or $845,000 per year • With all other indirect costs is $31,000 or $1.33 million per year • EMS/Fire Science Cost Per FTSE: • Direct instructional costs only $3,774 or $359,500 per year • With all other indirect costs is $6,288 or $599,000 per year Fall 2013 Budgeting 102 Coconino Community College

  12. COST OF ACADEMIC PROGRAMSBeyond Tuition Fall 2013 Budgeting 102 • Beyond Tuition, State Aid, and Property Tax • Class fees - consumables • Grants • Perkins – Career & Tech Support • Arizona Hospital Association – Start up Costs • First Things First – Early Childhood Education • Gifts and Donations • FMC/NAH – Beds, Equipment, and Funding • WL Gore – Computer Servers • NAU – Lab Equipment • City of Flagstaff - $35K for Chemistry Lab Coconino Community College

  13. COST OF ACADEMIC PROGRAMS STARTUP COST OF NEW PROGRAM • Example: San Juan Community College Industrial Process Operator Program (IPOP) • $1.2 million in start-up equipment • $500,000 salary/fringe for 5 FT faculty hires • 74 credit hours Fall 2013 Budgeting 102 Coconino Community College

  14. PROGRAM ASSESSMENT Fall 2013 Budgeting 102 • CCC regularly performs various reviews of their programs to ensure quality and viability • Program Review (5 year cycle) • Full budget review (when indicated) • Advisory council meetings • Community feedback through surveys, conversations, etc. • Student feedback Coconino Community College

  15. Coconino Community CollegeBudgeting 102 Fall 2013 Budgeting 102 2013 Special Override Election Coconino Community College

  16. Coconino Community College’s Three Core Missions: • 1.) Arts & Sciences – Transfer/Transition • 2.) Career & Technical Education • 3.) Workforce Training Fall 2013 Budgeting 102 Coconino Community College

  17. Coconino Community College’s Three Funding Sources… Fall 2013 Budgeting 102 Coconino Community College

  18. CCC’s Financial Dilemma… • 1.) State Aid Cuts • $15 million cut cumulatively from FY2007 to FY2014 State Aid & Full-Time Student Enrollment (FTSE) State aid was 23% share of CCC’s budget in 2007; now it’s 12%. Struggling to meet core missions! Fall 2013 Budgeting 102 Coconino Community College

  19. CCC’s Financial Dilemma… • 2.) Property Taxes • Since 1991, CCC’s primary property tax rate has virtually stayed the same even though CCC’s student body has grown. Property Tax & Full-Time Student Enrollment (FTSE) Struggling to meet core missions! Fall 2013 Budgeting 102 Coconino Community College

  20. CCC’s Financial Dilemma… Lowest Property Tax Rate in Arizona! FY2014 Primary Property Tax Rates by Arizona Community College Struggling to meet core missions! Fall 2013 Budgeting 102 Coconino Community College

  21. CCC’s Response… • 3.) Tuition & Fees • 89% higher tuition since 2007! • $1,296 tuition increase is the largest increase among Arizona community colleges. Academic Year Tuition & Fees Tuition was 33%share of CCC’s budget in 2007; now it’s 43%. Struggling to meet core missions! Fall 2013 Budgeting 102 Coconino Community College

  22. CCC’s Response… Highest Student Tuition in Arizona! FY2014 Tuition & Fees by Arizona Community College Struggling to meet core missions! Fall 2013 Budgeting 102 Coconino Community College

  23. CCC’s Response… • 100 Cost Saving Initiatives • 15% employee reduction • 20% classes cut • 30% programs eliminated • Closed Williams Campus FY2014 Operating Budget & Reductions $4 Million in Budget Reductions = -18% • CCC is now drawing on minimal reserves and • struggling to meet core missions! Fall 2013 Budgeting 102 Coconino Community College

  24. CCC’s Financial Situation… Raising tuition & cost saving initiatives are not enough to maintain current levels of service. Sustainable Options: • Eliminate core missions • Increase revenue OR Fall 2013 Budgeting 102 Coconino Community College

  25. Coconino Community College’s Three Core Missions: • 1.) Arts & Sciences – Transfer/Transition • - Navigating students seamlessly from high school to CCC, to a bachelor’s degree and beyond through CCC’s educational pipeline. • 2.) Career & Technical Education • - Preparing local students for better jobs in Fire Science, Criminal Justice, Nursing & Paramedics, etc. • 3.) Workforce Training • - Keeping jobs in Coconino County with customized curriculums, • business retention & expansion, community partnerships, etc. Fall 2013 Budgeting 102 Coconino Community College

  26. Override Election – November 5, 2013 On June 25, 2013, the Coconino Community College District Governing Board unanimously called for a voter-approved override election. • Temporary: 7 Years • $4.5 Million/Year • Requires Voter Approval • Property Tax Effects: • $100K Home Value • $2.40/month • $29/year • $170K Home Value (Average in Coconino County) • $4.20/month • $50/year Fall 2013 Budgeting 102 Coconino Community College

  27. Override Election – November 5, 2013 • Schedule: • October 7, 2013 • Last day to register to vote • October 25, 2013 • Last day to request early ballot by mail • November 5, 2013 • Election Day • Polling hours: 6 a.m. to 7 p.m. • For election information visit: • www.coconino.az.gov/elections Fall 2013 Budgeting 102 Coconino Community College

  28. Thank You! For more information, visit: www.coconino.edu/VoterInformation Fall 2013 Budgeting 102 Coconino Community College

  29. Coconino Community CollegeBudgeting 102 Citizens’ Review Panel Meeting #2 April 8, 2013 Questions? Coconino Community College

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