2018-19 Year End Financial ReviewDistrict Board of Trustees

September, 2019

Employment Rate & Enrollment

2

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

88.5%

89.5%

90.5%

91.5%

92.5%

93.5%

94.5%

95.5%

96.5%

97.5%

FLORIDA STATE EMPLOYMENT RATE & FLORIDA COLLEGE SYSTEM FTE ENROLLMENT

Employment Rate Enrollment

-

5,000

10,000

15,000

20,000

25,000

30,000

88.5%

89.5%

90.5%

91.5%

92.5%

93.5%

94.5%

95.5%

96.5%

97.5%

ORLANDO MSA EMPLOYMENT RATE & VALENCIA COLLEGE FTE ENROLLMENT

Employment Rate EnrollmentFTE FTEEmployment Rate

Employment Rate

Credit Hour Enrollment

3

22,744 23,642

32,13038,952

43,475 45,004 44,026

10,36113,417

18,09724,591

29,08531,952 32,325

35,738 34,654 36,31843,451

51,030

72,315

94,947

830,522 818,465 812,686 798,140 780,066 792,031 809,985

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19

CREDIT HOURS BY STUDENT CLASSIFICATION FOR TUITION PURPOSES

Out of State International Dual Enrollment Resident (Excl DE)

3,175 4,054 5,388 5,895 6,502 7,514

26,066

1

35,738 34,654 36,31843,451

51,030

72,315

94,947

846,773837,752 843,987 845,484

834,943849,970 847,657

500,000

550,000

600,000

650,000

700,000

750,000

800,000

850,000

900,000

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19

CREDIT HOURS ATTEMPTED BY PROGRAM TYPE

BS & BAS Dual Enrolled AA & AS

Student Based Revenues

4

$78.8$85.8

$90.8 $90.6$93.3

$98.4 $102.6 $104.4$108.1 $111.0

$0.0

$10.0

$20.0

$30.0

$40.0

$50.0

$60.0

$70.0

$80.0

$90.0

$100.0

$110.0

$120.0

2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19

10 Year CAGR = 3.5%

46%

53%

54%

58%

58%

59%

63%

0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00%

Valencia

Palm Beach

Broward

Hillsborough

Miami-Dade

Saint Petersburg

Jacksonville

FCS State Support Share of Total RevenuesFY 2018-19

6

Recurring & Non-recurring State Support

6

$57.7 $62.5 $60.8$69.3 $67.3 $68.2

$75.9 $80.6 $79.5 $80.8

$3.7

$6.6 $6.4 $7.5

$0.0

$10.0

$20.0

$30.0

$40.0

$50.0

$60.0

$70.0

$80.0

$90.0

$100.0

2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19

Recurring Non-reccurring

10 Year CAGR = 3.8%

Continuing Education

$2.0$2.3

$2.6$2.3

$3.2

$3.9

$5.7

$6.7

$7.6

$8.5

0

1

2

3

4

5

6

7

8

9

2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19

Revenue In Millions

7

Languages51%

AST24%

Business Agreements /

Open Enrollment

13%

Fire Program9%

Other3%

FY 2018-19 REVENUE DISTRIBUTION BY PROGRAM CLASSIFICATION

2018-19 Year End Summary(Millions)

8

2018-19 BUD

2018-19 ACT

ACT VS BUD

VAR%

Revenues $203.5 $204.4 $0.9 0.4%

Expenditures $203.5 $203.3 $0.2 0.1%

$102.5 $104.4 $108.1 $111.0

2015-16 2016-17 2017-18 2018-19

Student Tuition & FeesYoY Change 2.6%

$139.3 $153.3 $165.6 $169.9

2015-16 2016-17 2017-18 2018-19

*Personnel ExpenseYoY Change 2.7%

$79.6$87.3 $85.8 $88.3

2015-16 2016-17 2017-18 2018-19

State AppropriationsYoY Change 2.9%

$33.7 $35.2 $33.0 $33.3

2015-16 2016-17 2017-18 2018-19

*Current Expense & Capital OutlayYoY Change 1.1%

*Personnel expense excludes Net Pension expense adjustment per GASB guidelines.

2018-19 Year End Financial ReviewDistrict Board of Trustees

September, 2019

Original Budget Revenues Collected YTD % Collected of AnnualStudent Based 118,380,414$ 50,385,479$ 42.6%State Funding 89,936,848 14,928,400 16.6%Other Revenues 5,682,738 877,223 15.4%

Total Revenues 214,000,000$ 66,191,102$ 30.9%

Original Budget Expenditures Expended YTD % Expended of Annual

Salaries 177,103,109$ 23,979,996$ 13.5%Current Expense 32,408,482 4,949,922 15.3%Capital Outlay 4,488,409 74,637 1.7%

Total Expenditures 214,000,000$ 29,004,555$ 13.6%

Rev. Projected Year End $214.0M

Exp. Projected Year End $215.1M

Projected Fund Balance $17.2M

Projected Fund Balance as % 8.0%

Financial Health Indicators

MONTHLY FINANCIAL SUMMARY FISCAL YEAR 2019-2020 (August)

Original Budget YTD FY % Collected YTD FY18-19 Year over YearStudent Based: Tuition 79,950,089$ 34,869,598$ 44% 33,281,581$ 1,588,017$ Non-Credit Tuition 8,594,548$ 2,238,055$ 26% 2,176,471$ 61,584$ Student Fees 16,283,807$ 6,541,093$ 40% 4,984,875$ 1,556,218$ Out of State Fees 13,551,970$ 6,736,733$ 50% 5,770,621$ 966,112$ State Funding: State Support - CCPF Recurring 82,233,834$ 13,698,564$ 17% 11,859,628$ 1,838,936$ State Support - Lottery, License Tag 7,703,014$ 1,229,836$ 16% 2,758,902$ (1,529,066)$ Other Revenue: Indirect Cost Recovered 343,269$ 21,109$ 6% 19,000$ 2,109$ Other Revenue - Transfer, Interest, Rent, Contract, Misc 5,339,469$ 856,114$ 16% 332,040$ 524,074$ Total Revenue 214,000,000$ 66,191,102$ 31% 61,183,118$ 5,007,984$

Original Budget YTD FY % Collected YTD FY18-19 Year over YearPersonnel Expenses:

Salaries & Wages 141,682,915$ 18,832,393$ 13% 18,235,142$ (597,251)$ Fringe Benefits 20,546,294$ 2,991,432$ 15% 2,851,847$ (139,585)$ Other Taxable Benefits 14,673,900$ 2,156,171$ 15% 2,335,971 179,800$ Personnel Expense Contingency 200,000$ -$ - -$

Total Personnel 177,103,109$ 23,979,996$ 14% 23,422,960$ (557,036)$

Other Expenses:Other Services & Expenses 8,355,552$ 1,771,912$ 21% 1,928,951$ 157,039$ Utilities & Communications 5,952,255 1,085,877 18% 771,628 (314,249)$ Contractual Services 7,757,548 895,654 12% 879,355 (16,299)$ Materials & Supplies 9,685,667 1,082,364 11% 1,138,666 56,302$ Scholarships & Waivers 16,000 - 0% 38,170 38,170$ Interest on Capital Debt - - 76,076 76,076$ NonPersonnel Expense - - 0% - -$ NonPersonnel Expense Contingency 185,000 - - -$ Payment on Debt 456,460 114,115 25% - (114,115)$

Total Direct Expenditures and Transfers 32,408,482$ 4,949,922$ 15% 4,832,846$ (117,076)$

Original Budget YTD FY % Collected YTD FY18-19 Year over YearCapital Expenditures 4,488,409$ 74,637$ 2% 339,260$ 264,623$

Total Capital Expenditures 4,488,409$ 74,637$ 2% 339,260$ 264,623$ Total All Expenses 214,000,000$ 29,004,555$ 14% 28,595,066$ (409,489)$

Total Revenues Less Expenses and Transfers -$ 37,186,547$ 32,588,052$ 4,598,495$

REVENUES

CAPITAL OUTLAY

EXPENDITURES

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUNMONTHLY

FY1819 47,383,913 13,799,207FY1920 52,509,012 13,682,092

CUMULATIVE CUMUL.1819 47,383,913 61,183,120CUMUL. 1920 52,509,012 66,191,104

REVENUES MONITOR

40

60

80

100

120

140

160

180

200

220

0

10

20

30

40

50

60

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN

Millions

Millions

FY1819 FY1920 CUMUL.1819 CUMUL. 1920

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUNMONTHLY

FY1819 14,528,807 14,066,258 FY1920 14,870,633 14,133,924

CUMULATIVECUMUL. 1819 14,528,807 28,595,065 CUMUL. 1920 14,870,633 29,004,557

.

* FY1819 excludes Net Pension adjustment by $14,577,690

EXPENSE MONITOR

 ‐

 20

 40

 60

 80

 100

 120

 140

 160

 180

 200

 ‐

 5

 10

 15

 20

 25

 30

 35

JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN

Millions

Millions

FY1819 FY1920 CUMUL. 1819 CUMUL. 1920