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MOTT COMMUNITY COLLEGEBoard of Trustees
Committee of the Whole MeetingJune 22, 2015
Budget Resolutions
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For Consideration and Vote
Final Amended 2014-2015 Budget
Initial 2015-2016 Budget
Millage Authorization (Operating, Debt)
Tuition and Fee Recommendation beginning Winter 2016
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FINAL FY14-15 AMENDED BUDGET:
GENERAL FUND
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Final FY14-15 General Fund Budget REVENUESOverall downward amendment to revenue is $137,000; (-0.18%) change from February 2015 amendment
Tuition and Fees Grants
and Other
$150 thousand due to lower than anticipated
enrollment & contact hour decrease
$13 thousand due to slightly higher activity
than expected
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Final FY14-15 General Fund BudgetEXPENDITURESAmended downward by $233,000; (-0.31%)
Savings in contracted services, materials & supplies, and bad
debt expense
$170,529 due to course section management and release of open position
pool
$146 thousand net, increase of $150,000 to
capital outlay and a reduction of $3,500 in
designated scholarships.
Non-salary
related expenses Transfers
Salary & Fringe
Benefits
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Final FY14-15 General Fund Budget SUMMARY 13-14 ACTUAL 14-15 AMEND
#114-15 AMEND
#2Revenues $ 74,945,931 $ 75,699,657 $ 75,562,182
Expenditures 75,239,218 75,538,814 75,305,519
Excess (Deficit) Revenues Over Expenditures $ (293,287)
$ 160,843
$ 256,663
Budgeted Increase in Net Assets 0.00 0.00 (250,000)
Final Surplus $ 0.00 $ 0.00 $ 6,663
Net Assets– Beginning $ 6,581,160 $ 6,287,877 $ 6,287,877
Net Assets – Ending $ 6,287,873 $ 6,448,720 $ 6,544,540
Net Asset Balance Percent* 8.36% 8.54% 8.69%* Target = 5% - 10% of expenditure budget
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Final FY14-15 General Fund BudgetNET RESULTS OF AMENDMENT:
6/30/2015 projected to end with $256,663 increase in Net Assets
NET ASSETS: $95,820 higher than the February Amended Budget
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MCC
MCC RECENT FINANCIAL/OPERATING TRENDS
8
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Funding Sources2015 -2016State Aid
Tuition
Property Taxes
Debt Operating
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THEN and NOW
Tuition32%
Taxes26%
State Aid37%
Other6%
1999-2000
Tuition49%
Taxes24%
State Aid21%
Other5%
2014-2015
State Funding$15,344,107
State Funding$15,813,494
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Projected Property Tax Funding FYE 2010 through FYE 2016
($19.4 Million lost since 2009-2010)
2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016 $12,000,000
$14,000,000
$16,000,000
$18,000,000
$20,000,000
$22,000,000
$24,000,000
$23,266,144.
0
$20,168,704.0
$18,940,451.
0 $17,652,500.
0
$17,228,840.
0
$17,228,840.
0
$17,663,093.
0
$3.1 M $1.3 M $1.3 M$500K
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Percentage of Property Tax and State Aid of Total Funding
6/20
00
6/20
01
6/20
02
6/20
03
6/20
04
6/20
05
6/20
06
6/20
07
6/20
08
6/20
09
6/20
10
6/20
11
6/20
12
6/20
13
6/20
14
6/20
15
30%
35%
40%
45%
50%
55%
60%
65%
70%
63%60%
62% 60%59% 58% 57% 56% 56%
54%51%
47%44% 45% 45% 44%
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Rise in Costs
2008 2009 2010 2011 2012 2013 2014$0
$10,000,000
$20,000,000
$30,000,000
$40,000,000
$50,000,000
$60,000,000
$70,000,000
$80,000,000$70,832,466$72,489,551
$76,470,893$76,710,281$76,601,289$73,601,067$74,763,342
$61,093,002$65,088,368
$70,704,988$72,951,477$74,877,760$72,349,849$73,380,220
Total Revenue
MCC 13
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% Budget to Cover Fixed/Variable Costs
2008 2009 2010 2011 2012 2013 201480.0%
82.0%
84.0%
86.0%
88.0%
90.0%
92.0%
94.0%
96.0%
98.0%
100.0%
86.3%
89.8%
92.5%
95.1%
97.8% 98.3% 98.2%
MCC 14
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Salaries/Benefits as % of Budget
2008 2009 2010 2011 2012 2013 2014
67% 70% 70% 71% 73% 75% 76%
Salaries/Bene...
2008 2009 2010 2011 2012 2013 2014
69% 74% 76% 79% 81% 82% 83%
Salaries/Benefits/Temps/OT/Contra...
+4% +6% +8% +8% +7% +7%+2%
MCC 15
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Tuition & Financial Aid
2820600071%
25700006%
910700023%
Federal AidOther AidCash Paying
Total aid comprises 77% of MCC’s total tuition revenue
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Pell Awards
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014$0
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
$35,000,000
Academic Year
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Pell Award & Cost of TuitionMOTT COMMUNITY
COLLEGE IN-DISTRICT
(PUBLISHED FOR 14-15)EASTERN MICHIGAN
UNIVERSITY Pell Awarded (14-15) $5,730 $5,730
Tuitions & Fees (30 contact hours)
$4,402 $8,244
Books & Supplies $1,000 $1,000
Difference $328 - $3,514
Student receives remaining balance
Student needs unmet
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Pell Distribution – 2014/2015
AWARDED
EDUCATIONAL TUITION &
FEES
EDUCATIONAL BOOKS & SUPPLY
CHARGES
REMAINING AWARD RETURNED TO
STUDENTS$ 20,033,668 $ 16,346,346 $ 2,179,537 $ 1,507,786
2015/1 to 2015/4 - Preliminary
Approximately 6,500 Students
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Deferred Maintenance
Planned maintenance not performed when scheduled
Usually lack of funding – liability to college Leads to earlier asset replacement due to
premature end of life
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Link to Mission and Strategic PlansMCC’s mission statement directs the college to… “maintain its campuses, state-of-the-art
equipment, and other physical resources that support quality higher education. The college will provide the appropriate services, programs, and facilities to help students reach their maximum potential.”
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MCC
2015 2016 2017 2018 2019 2020 2021 2022$0.0
$10,000,000.0
$20,000,000.0
$30,000,000.0
$40,000,000.0
$50,000,000.0
$60,000,000.0
$70,000,000.0
$80,000,000.0
$90,000,000.0
83400000
$6,666,666.7
$43,400,000
Total Unfunded Deferred Bond
Deferred Maintenance w/o ITS (72)
22*Does not include maintenance issues that will accumulate annually
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Reserve Savings Levels Mandated by Board Policy
MCC 23
Depreciated Assets 06/30/2014
Expenditures 06/30/15
$93,244,035
$72,500,000
$7,250,000General Fund
(01)5 – 10%
$725,000Rainy Day (02)
1%
$5,594,642Capital Reserve
(72 & 78)1 - 3% +
+= $13,569,642
$10,191,43506/30/2014
Actual Balance
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Projected Reserve Balances
24
June 30, 2014Actual
$6,287,873 GF
$750,000 Rainy Day
$3,226,911Capital Reserve
Balance $10,264,7841Lapeer Installment Purchase Payment
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MCC
Michigan Community College Fund Balances (Peer Group)
25
PEER GROUP
General (01) Plant (72 & 78) Total1 General (01) Total1
Delta 6,768,400$ 25,118,731$ 49,434,549$ 10.87% 79.37%Grand Rapids 11,121,515$ 8,593,822$ 29,936,555$ 10.65% 28.68%Henry Ford (2013) 11,855,466$ 20,661,699$ 39,951,101$ 16.85% 56.79%Kalamazoo Valley 13,002,709$ 32,009,908$ 49,730,317$ 25.13% 96.12%Mott 6,287,873$ 5,994,151$ 13,558,250$ 8.52% 18.37%Schoolcraft 11,855,466$ 20,661,699$ 39,967,151$ 16.81% 56.67%Wastenaw 16,241,960$ 7,464,108$ 24,017,933$ 18.03% 26.66%Total 77,133,389$ 120,504,118$ 246,595,856$ 14.74% 47.13%
Overall State Average - All CC's 22.21% 35.00%
Fund Balances Fund Balance %
1Total includes General Fund, Auxiliary Fund, Designated Funds and Plant Funds
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Enrollment Trends 2008 – 2016
2010 2011 2012 2013 2014 2015 20160
50,000
100,000
150,000
200,000
250,000
300,000
350,000
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000 Contact Hours
16% -2%
-15%
-6%-10%
-7%projected
-4%
Und
uplic
ate
d H
ead C
ount
Conta
ct H
ou
rs
MCC 26
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MCC
THE IMMEDIATE STRATEGIC PLAN
27
Recruiting & Branding/Mar
keting
Dual Enrollment
EC Strategy
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Proposed Fiscal Year 2015-2016 Budget
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Relevant Board Policies3100 BUDGET ADOPTION
• Budget revisions will be brought forward for Board action as necessary, but not less than twice per year.
3920 FINANCIAL STABILITY & 3930 FISCAL RESERVES
• The College will designate and set aside appropriate fund reserves to support plans for long-term capital and operating commitments
5100 COMPENSATION PHILOSOPHY
• The Board has determined based on long-term budget projections, and other related budget data, that total compensation/ benefits should not exceed 77% of the total operating budget
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Long Term 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
7-4 Seek and cultivate
alternative resources to supplement
and/or increase existing revenue
streams and funding sources
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Current Year Budget PrioritiesPlanned Decrease in Hiring $ (452,000)
Reduction in Contracted Services $ (680,475)
Reduction in Federal Work Study $ (270,000)
Reduction in Bad Debts $ (215,000)
Reduction in Internal Food $ ( 25,000)
Transfer to Maintenance and Replacement $ 230,000
Transfer to Capital Reserves $ 100,000 Add to General Fund Fund Balance $ 250,000
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Tuition & Fee Recommendation2015 CY RATE
2016 CY RATE
INCREASE
Per: Contact Hour
In-District Rate $ 126.30 $ 130.34 $ 4.04
Out of District Rate $ 183.48 $ 183.48 $ 0.00
Out of State Rate $ 261.40 $ 261.40 $ 0.00
Institutional Technology Fee $ 7.24 $ 7.47 $ 0.23
Student Administrative Fee $ 8.76 $ 9.04 $ 0.28
Per: Semester
Student Services Fee $ 126.30 $130.34 $ 4.04
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Tuition & Fees: Local ComparisonCollege
Yearly Tuition & Fees (14-15)
Mott Community College $ 4,402Eastern Michigan University $ 8,244Saginaw Valley University $ 8,253Baker College – Flint $ 8,460University of Michigan – Flint $ 9,720Oakland University $ 10,613Ferris State University $ 11,190Central Michigan University $ 11,550University of Michigan – Ann Arbor $ 13,158Michigan State University $ 13,200Davenport University – Grand Rapids $ 14,472Kettering University $ 36,980
MCC’s annual cost is approximately one half of the next lowest cost college/university in our area
Cost is based on rates published from the Peterson’s Guide at www.petersons.com as of 6/11/2015.
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Proposed FY15-16 General Fund Budget
REVENUES – KEY ASSUMPTIONS
Grants & OtherProperty
Taxes & State Aid
$225,000 property taxes and $148,000 for State Aid
($1.2) million in tuition & fees; enrollment decline
Decrease in Grants & Other mostly due to a
decrease in transfers in; $51,000 increase in
Ballenger Trust
Tuition and Fees
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Proposed FY15-16 General Fund BudgetEXPENDITURES – KEY ASSUMPTIONS
Increase of $490,000 with the majority of the increase in transfers to Maintenance & Replacement and capital
reserves
($453,000) No across the board increases, minimal
increase in health insurance (hard cap), and
blended MPSERS rate
Other Expenses
Salaries & Fringes
Contracted Services,
Materials & Supplies, & Equipment
($680,475) in contracted services; ($84,000) in
materials and ($76,000) for equipment
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Initial FY15-16 General Fund Budget
14-15 AMEND #2 INITIAL 15-16
Revenues $ 75,562,182 $ 74,602,968
Expenditures 75,305,519 74,352,968
Excess (Deficit) Revenues Over Expenditures $ 256,663 $ 250,000
Budgeted Increase in Net Assets (250,000) (250,000)
Final Surplus $ 6,663 $ 0.00
Fund Balance – Beginning $ 6,287,877 $ 6,694,540
Fund Balance – Ending $ 6,544,540 $ 6,944,540
Fund Balance Percent* 8.69% 9.34%
* Target = 5% - 10% of expenditure budget
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Proposed “Other Funds” FY15-16 Budgets
Designated Fund $2.5 Million Revenue Budget Scholarships, Student Enrichment, Copy Machines,
Paid Parking, Designated Technology Fee
Auxiliary Enterprise Fund $913,000 Budget $587,500 Net “Profit” Supplements General Fund Catering, Vending, Bookstore, Computer Lab Printing,
Lapeer Campus Auxiliary
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Proposed “Other Funds” FY15-16 Budgets
Debt Retirement Fund Millage rate remains at 0.87 mill to meet debt
obligations
Capital Funds repair, upgrade of buildings, equipment, technology & vehicles Instructional Technology Fee = $1.47 Million per year $995,000 per year planned transfer from General Fund
(minimum required annual expenses plus reserves)
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A Comparison to Seven Other Michigan Peer Community CollegesBased on 2013 – 2014 ACS Data
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Current Year Comparison of State of Michigan Peer Group Property Tax Revenue
Hen
ry F
ord
Kala
maz
oo V
alle
y
Scho
olcr
aft
Del
ta
Mott
Gra
nd R
apid
s
Was
hten
aw
$- $5,000,000
$10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000 $40,000,000 $45,000,000 $50,000,000
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Current Year Comparison of State Aid
Scho
olcr
aft
Kala
maz
oo V
alle
y
Was
hten
aw
Del
ta
Mott
Way
ne C
ount
y
Gra
nd R
apid
s
Hen
ry F
ord
$-
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
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MOTT COMMUNITY COLLEGEBoard of Trustees
Committee of the Whole MeetingJune 22, 2015
Questions or Comments?
Larry Gawthrop, CFO (810) 762-0525
Details Provided with Board Resolutions 1.39 and 1.40