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Grand Rapids Community College Board of Trustees

This document outlines the proposed budget for Grand Rapids Community College Board of Trustees for the 2016-17 fiscal year, including revenue sources, expenditures, and future projections. It also addresses significant changes from the previous year and potential impacts on enrollment, state aid, and auxiliary transfers.

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Grand Rapids Community College Board of Trustees

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  1. Grand Rapids Community CollegeBoard of Trustees 2016-17 Proposed Budget June 6, 2016

  2. AGENDA • General Fund • Restricted Fund • Designated Fund • Auxiliary Fund • Plant Fund • Five-Year Budget Projection • Looking Ahead

  3. General Fund (GF)Summary Based on the tuition adjustments approved in March, the following budget is presented for your approval:

  4. 2016-17 General FundRevenue Sources

  5. 2016-17 General FundPrimary Revenue Sources - Historical

  6. 2016-17 General FundExpenditures

  7. Restricted Fund Used to account for funds restricted as to use by external funding sources:

  8. Restricted FundSignificant changes from 2015-16 Mid Year • Federal: $5.7 million decrease – due primarily to lower enrollment and the related reductions in Pell ($2.5M) and Direct Loan ($2.5M). Also, the Strengthening Institutions Program (Title III) grant terminates in Sept 2016 (however this work will continue and be funded via the GF). Finally, the U.S. Dept. of Labor’s M-CAM grant will enter its wrap-up phase in Feb 2017, with final termination early in the 2018 fiscal year. • State/Local: $281,000 decrease – due primarily to timing differences. Includes activity for the Michigan New Jobs Training Grant, renewal (for two years) of the Kellogg Pathways grant, and other smaller state/local grant programs. • Transfers from GF: $246,000 decrease – due primarily to the termination of the Title III grant (noted above) and reduced match support for the Student Support Services TRIO grant program. In the latter, labor savings from an FTE reduction and a retirement replacement at a lower rate provided for the decrease.

  9. Designated Fund Funds internally designated for specific purposes and/or receiving substantial external revenues (e.g. admission fees, contract revenues, etc. ) Significant Changes from 2015-16 mid year: • Training Solutions is projecting increased revenues of approx. $170,000 from Customized Training, primarily in high demand health related programs such as Medical Assisting. Related instructional expenses have been adjusted accordingly. • Transfers from the GF have been reduced by approx. $25,000. The $18,500 transfer to Support Student programs will be reallocated to the new Mandatory Orientation program in the GF. Other transfers have been reduced due to available fund balance (Collegiate) or lower projected spending (Older Learner Center).

  10. Auxiliary Fund • Overall, revenues decreased approximately 6.1%, consistent with lower enrollment levels. • One FTE, vacated due to the VESP, has been eliminated in Printing Service. • Subsidized premium parking for students will be reduced due to lower demand and available on-campus capacity. • Key projects to be funded from Auxiliary revenues in 2016-17 include: • - Technology and equipment upgrades for the Bb Raider Card system - $29,500 • - Cafeteria/catering equipment replacements - $17,000 • - Parking ramp maintenance and repairs - $950,000

  11. Plant FundOperating Expenditures planned in the 2016-17 budget: • IT Capital/Tactical Plan - $1,011,000 • Includes classroom technology upgrades, phone system upgrade, PC “cascading”, etc. • Capital Allocation and Deferred Maintenance - $1,237,000 • Deferred maintenance allocation - $1,000,000 • Recurring funding for vehicle replacement, SWD equipment, ADA compliance, workspace relocations and bond amortization - $237,000 • Facility Renovations/Construction - $12,700,000 • Music Building - $7,500,000 • Preschool - $5,200,000 • Debt service on bond indebtedness - $7,285,018

  12. Five-Year Budget Projection

  13. Looking Ahead • Enrollment fluctuations • State Aid • Impact of Personal Property Tax reform • Potential future reduction in Auxiliary transfers to GF • Zero-Based Budgeting for Academic & Student Affairs • On-going prioritization of need for reinvestment in academic programs and capital resources • CSTEP grant reimbursement • Construction update

  14. Questions/Comments

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