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FY2013 Budget Forum

The FY2013 Budget Forum, co-chaired by Mark Yeager and Myeshia Armstrong, focused on the state budget status and its implications for MiraCosta College. Key discussions included reduced state revenues, the Governor’s May Revised Budget, and potential mid-year impacts. The forum outlined budget assumptions, reduction strategies, and a goal to adopt a balanced budget, targeting a $3 million reduction in expenditures. Contributions from Superintendent/President Francisco Rodriguez emphasized the importance of stewardship and financial prudence in navigating these challenges.

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FY2013 Budget Forum

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Presentation Transcript

  1. FY2013 Budget Forum May 4, 2012 Mark Yeager, Co-chair, Budget and Planning Committee Myeshia Armstrong, interim CO-CHAIR, BUDGET AND PLANNING COMMITTEE; director of fiscal services Francisco Rodriguez, Superintendent/President

  2. Agenda • Welcome - Mark Yeager • 2012-2013 State Budget Status – Myeshia Armstrong • Implications for MiraCosta– Myeshia Armstrong • Budget Process – Mark Yeager • FY13 Budget Assumptions and Reduction Strategies – Myeshia Armstrong, Mark Yeager • Comments from President Rodriguez • Discussion and Q&A – Myeshia Armstrong, Mark Yeager, Dr. Rodriguez

  3. Status of the State Budget

  4. State Budget Gap • Reduced the budget deficit by $9.2 billion • Slow economic recovery persists • State Revenues far less than expected • Governor’s May Revised Budget (May 14) • Governor’s Tax Initiative Proposal (Nov 2012)

  5. The State and MiraCosta • The dire state budget situation has a profound impact on apportionment districts (69/72) • “Basic Aid” status • Local property tax revenues currently greater than formula allocation by approximately $30M • “Fair Share” exposure = $4.3M • Indirect impacts on MiraCosta • Perceptions • Expectations

  6. Implications for MiraCosta • $10 per unit enrollment fee increase from $36-$46, effective Summer 2012 • Potential mid-year impacts • CBO (chief business officers)Funding Task Force reconvened, Jim Austin - participant

  7. FY2010-11 Revenue Sources(General Fund)

  8. FY2010-11 Expense Categories(General Fund)

  9. Revenues & Expenses

  10. Budget Process Role of BPC Preliminary Budget (Feb 2012) Tentative Budget (June 2012) Final Budget Adoption (Sept 2012)

  11. MiraCosta FY13 Budget Assumptions • The goal for FY12-13 is to adopt a balanced budget • 1% increase in property tax revenue • 0% Funded FTE growth • Actual FY10-11 expenditures reviewed against budgeted FY11-12 to determine a target for reductions • Identified $3 million in one-time reduction strategies

  12. Budget Reduction Strategies: Highlights • Program Review to Resource Allocation Process • “Frost” on District Hiring • Divisional Reductions • PARS (2010 & 2011) • Sabbatical Reductions • Health & Benefit Allowance

  13. District’s Guiding Philosophy & Next Steps • Institutional Goal 4: MCCD will maintain high standards of stewardship and fiscal prudence • Now what?

  14. Discussion and Questions Mark Yeager, Co-chair, Budget and Planning Committee Myeshia Armstrong, Interim CO-CHAIR, BUDGET AND PLANNING COMMITTEE; Director of Fiscal Services Francisco Rodriguez, Superintendent/President

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