College Finances

1. Mott Community College Board Workshop May 23, 2011 College Finances

2. STRATEGIC PLAN _____________________________________________________________________ • 7-0. Budget/Finance • 7-1. Focus on controllable revenues and costs to sustain our current reputation and facilities and provide funding for strategic priorities • 7-2. Establish short and long-term budget and finance priorities that provide a balanced approach to the needs of a learning organization with the flexibility to realign resources • 7-3. Implement a comprehensive strategy to address the long-term deficit which enables us to continue to provide affordable high quality education • A balanced approach

3. 2011-2012 RECOMMENDATIONS

4. FYE 2012 Impact in Dollars $8,128,658

5. Tuition Keeps Up with Lost Funding/Increase in Non-controllable costs for FYE 2012 $56.73 $155.41

6. COMPARISON PRIOR YEAR/CURRENT YEAR 2011 2012

7. Reserve Requirements Still need $183K In millions Still need $36K Still need $950K Adequately funded

8. No State Aid Cut If tuition were used to cover remaining deficit, the increase would be $7.47 per contact hour or 7.6%

9. 3.4% State Aid Cut If tuition were used to cover remaining deficit, the increase would be $10.18 per contact hour or 10.3%.

10. 4% State Aid Cut If tuition were used to cover remaining deficit, the increase would be $10.75 per contact hour or 10.9%.

11. 7% State Aid Cut If tuition were used to cover remaining deficit, the increase would be $13.84 per contact hour or 14%.

12. 15% State Aid Cut If tuition were used to cover remaining deficit, the increase would be $21.53 per contact hour or 21.8%.

14. Contact Hour Costs vs. Increase in Total Contact Hours

15. COMMENTS/QUESTIONS?