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SCC Funding Resources

SCC Funding Resources. Fiscal Year 2007-08 December 2007 Information based on LRCCD 2007-08 Proposed Budget for Adoption. Fund Types. District General Fund (GENFD): Fund 11: Unrestricted General Fund Fund 12: Restricted General Fund Campus Funds: SCOSC : Extended General Fund

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SCC Funding Resources

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  1. SCC Funding Resources Fiscal Year 2007-08 December 2007 Information based on LRCCD 2007-08 Proposed Budget for Adoption

  2. Fund Types • District General Fund (GENFD): • Fund 11: Unrestricted General Fund • Fund 12: Restricted General Fund • Campus Funds: • SCOSC: Extended General Fund • Fund 13: Instructionally Related/Special Activities • Fund 14: Other Instructionally Related Programs (Trust) • BANSC: Agency • Fund 71: Associated Student Government • Fund 72: Student Representation Fees • Fund 81: Student Clubs & Agency • Fund 83: SCC Foundation

  3. District General Fund Funds 11 & 12 Utilized to account for the basic educational programs and ordinary operations of the college

  4. Fund 11Unrestricted General Fund • College Discretionary Fund, Block Grant • Unrestricted portion of the district’s general fund • Primary funding source; supports all divisions and administrative areas • Formula driven, in part • Substantial portion of funding recommended by the budget committee • Due to timing of allocations, current year funding is used to plan next Fiscal Year • Mid year updates through the Budget Committee

  5. Fund 12Restricted General Fund • Categorical programs, Special Projects, Grants • Expenditures restricted by law, regulation, external agencies, etc. • Funding levels determined by external agencies • Timelines and restrictions defined in program plans • Matching sometimes required

  6. SCOSC Campus Funds • Fund 13 and Fund 14 • Extensions of the general fund • Subject to the same regulations as district general fund • All revenue generated by the college

  7. Fund 13Instructionally Related(extended general fund) • IR/EEP • Supports extra-curricular, student centered and student focused activities • Derived from College Store profit ($200K) • Special Activities • Promote understanding of the college, increase community awareness • Capped at .08% of College General Fund (~$62,800/annually) • Funded by vending revenue

  8. Fund 14Other Instructionally Related (Trust) • Extension of the general fund to account for materials fees, gate receipts, service fees, and other miscellaneous college income • All activities are cost-covering (unsubsidized) • Only used if activity does not fit other funds

  9. BANSC Agency Funds • Funds 71, 72, 81, and 83 • College assumes fiduciary responsibility but has no authority over expenditures

  10. Fund 71Associated Student Government • Moneys held in trust by the college for the organized student body association • Annual revenue comes from subsidies of student student Access Card

  11. Fund 72Student Representation Fee • To account for moneys collected pursuant to Education Code Section 76060.5 that provides for a student representation fee of one dollar per semester • Expended to provide for the support of student governmental affairs representatives

  12. Fund 81Student Clubs and Other Agency • To account for moneys of student clubs and any other moneys for which the college is the fiscal agent

  13. Fund 83SCC Foundation • To raise funds for scholarships, grants, and other assistance for students as well as provide support for college programs • Revenue comes largely from endowments, donations, gifts, bequeaths, and fundraising • Maintains IRS 501c3 standing

  14. Summary • Handouts cover basic definitions and authorized uses of these fund types • Limitations and audit requirements do exist • Budget Office and VPA are tasked to monitor

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