mott community college board of trustees committee of the whole meeting june 25, 2012 budget...
TRANSCRIPT
![Page 1: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/1.jpg)
Mott Community College
Board of TrusteesCommittee of the Whole
MeetingJune 25, 2012
BUDGET RESOLUTIONS
![Page 2: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/2.jpg)
For Consideration and Vote• Final Amended 2011-2012 Budget• Initial 2012-2013 Budget• Millage Authorization (Operating,
Debt)• Tuition Recommendation beginning
Winter 2013
2
![Page 3: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/3.jpg)
FINAL FY11-12 AMENDED BUDGET:
General Fund
3
![Page 4: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/4.jpg)
Final FY11-12 General Fund Budget
4
REVENUES:Tuition & Fees -$588 thousand, -1.5% adj. credit-side enrollment and projections down for Winter and Spring 2012
Property Taxes -$185 thousand due to projected increased delinquencies
State Aid no change
Other Revenue $354 thousand (auxiliary revenue increased)
=Overall downward amendment to revenue is -$356 thousand
-.47% change from January 2012 amendment
![Page 5: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/5.jpg)
Final FY11-12 General Fund Budget
5
EXPENDITURES:
Amended downward by $770 thousand, a 1% change:
Salaries & Wages and Fringe Benefits --continued holds on open positions.
Non-salary related expenses -- savings in contracted services and material and supplies, with increases in utilities.
Transfers -- increase of designated scholarships and transfers amongst sites to reflect actual anticipated activity.
![Page 6: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/6.jpg)
Final FY11-12 General Fund Budget
10-11 Actual 11-12 Amend #1 11-12 Amend #2
Revenues $ 76,710,276 $ 76,390,963 $ 76,035,286
Expenditures 76,518,073 77,609,947 76,839,675
Excess (Deficit) Revenues Over Expenditures
$ 192,203 $ (1,218,984) $ (804,389)
Fund Balance – Beginning $ 7,273,879 $ 7,466,082 $ 7,466,082
Fund Balance – Ending $ 7,466,082 $ 6,247,098 $ 6,661,693
Fund Balance Percent* 9.76% 8.05% 8.67%
6
Summary
*Target = 5% - 10% of Expenditure budget
![Page 7: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/7.jpg)
Final FY11-12 General Fund Budget
7
NET RESULTS OF AMENDMENT:
FUND BALANCE : $315 thousand higher than the January Amended Budget
6/30/12 projected to end with $(804,389) deficit, for a total of $6.66 million
![Page 8: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/8.jpg)
Reserves as Required by Board Policy #3930
General Operating (01) Reserve Requires 5-10% of annual operating expenses. 11-12 Amended Budget reserve of 8.67%
Maintenance & Replacement Fund (72)Requires 1-3% of College depreciated assets or $3.1 M11-12 Amended Budget reserve of $2.1 MAmount needed to fully fund is $1 M
Building/Site Fund (78)Requires 1-3% of College depreciated assets or $3.1 M11-12 Amended Budget reserve of just slightly over $3 M 8
_____________________________________________________________________
![Page 9: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/9.jpg)
FUNDING SOURCES(2012-2013)
State Aid
Property Taxes-Operating
-Debt
Tuition9
![Page 10: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/10.jpg)
Trends in Funding Sources & Enrollment
1999
-200
0
2004
-200
5
2009
-201
0
2011
-201
2
$3,500,000
$8,500,000
$13,500,000
$18,500,000
$23,500,000
$28,500,000
$33,500,000
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
State Aid Property Taxes Headcount
Fund
ing
Hea
dcou
nt
![Page 11: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/11.jpg)
Trends in Funding Sources & Enrollment, Fiscal Year Equated Students (FYES)
2001
-200
220
02-2
003
2003
-200
420
04-2
005
2005
-200
620
06-2
007
2007
-200
820
08-2
009
2009
-201
020
10-2
011
$3,500,000
$8,500,000
$13,500,000
$18,500,000
$23,500,000
$28,500,000
$33,500,000
$4,000
$4,500
$5,000
$5,500
$6,000
$6,500
State Aid Property Taxes Revenue per FYES
Fund
ing
11
![Page 12: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/12.jpg)
THEN and NOWTuition32%
Taxes
26%
State Aid36%
Other6%
1999-2000 Tu-ition
53%
Taxes23%
State Aid20%
Other5%
2012-2013
12
State Aid Funding
$15,344,107State Aid Funding
$15,021,410
![Page 13: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/13.jpg)
13
Projected Property Tax Funding FYE 2010 through FYE 2016
$12
$14
$16
$18
$20
$22
$24
2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016
$23.3
$20.2
$18.9
$17.6 $17.1 $17.1 $17.4
Million
s
$1.3 Million Decrease
$1.3 Million Decrease
$3.1 Million
![Page 14: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/14.jpg)
Percentage of Property Tax and State Aid of Total Funding
14
63%58%
51%47%
44%42%
30%
40%
50%
60%
70%06
/30/
00
06/3
0/05
06/3
0/10
06/3
0/11
06/3
0/12
06/3
0/13
![Page 15: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/15.jpg)
-
5
10
15
20
25
30
35
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Mill
ions
Academic Year
Pell Awards
Increased Five-Fold in Ten Years
![Page 16: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/16.jpg)
Pell Award & Cost of TuitionMott Community College
In-District(Published 12/13)
Saginaw ValleyState University
In-StatePell Awarded $5,550 $5,550
Tuition & Fees(30 contact hours)
$3,644 $8,134
Books & Supplies $1,000 $1,000
Difference $906 -$3,584
Student Needs Unmet
Student Receives Remaining
Balance
![Page 17: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/17.jpg)
Pell Distribution – 10/11
Awarded Educational Tuition & Fees
EducationalBooks & Supplies
Charges
Non-Educational
Govt. Refund
$27,919,272 $18,729,369 $4,491,705 $4,698,199
Sample of Approx. 9,540 Students
![Page 18: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/18.jpg)
Pell Distribution – 11/12
Awarded Educational Tuition & Fees
EducationalBooks & Supplies
Charges
Non-Educational
Govt. Refund
$31,013,885 $21,128,548 $4,493,632 $5,391,705
Sample of Approx. 9,700 Students
![Page 19: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/19.jpg)
Compensation as a Percentage of the General Fund Budget
74.00%
74.50%
75.00%
75.50%
76.00%
76.50%
77.00%
2001 2013
Compensation expense would be $1.25 M higher if it was at 2001 levels as a percentage of budget.
Ten year average salary increases are 1.35%.
![Page 20: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/20.jpg)
PROPOSED FY 12-13 BUDGET
20
![Page 21: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/21.jpg)
21
3100 Budget Adoption. “Budget revisions will be brought forward for Board action as necessary, but not less than twice per year in January and June.”
3920,3930 Financial Stability, 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.”
RELEVANT BOARD POLICIES:_____________________________________________________________________
![Page 22: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/22.jpg)
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
22
_____________________________________________________________________
![Page 23: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/23.jpg)
STRATEGIC INITIATIVES FOR 12-13
23
Allocation for 12-13 is $50,000 for AQIP
$55,000 allocated for Department/Division level strategic planning
Current AQIP Action Projects : Developmental Education/Mandatory Placement
Campus Cultural/Behavioral Readiness
Wait List/Retention Alert
![Page 24: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/24.jpg)
PROPOSED FY12-13 BUDGET
24
No Change in Budget Principles. Uncertainty still remains.
Budget must support Strategic Plans
Minimize/offset impact on Students
Avoid overall reduction in Staffing
Maintain Fund Balance/Reserves
Maintain flexibility in Budget
Balanced Approach
![Page 25: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/25.jpg)
PROPOSED FY12-13 BUDGET
Key Assumptions Revenues
Property Taxes $ 1,287,950State Aid $ 637,810Tuition $ 1,612,930
![Page 26: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/26.jpg)
PROPOSED FY12-13 BUDGET
Key Assumptions Expenditures
Transfers $ 569,640Salaries, Wages and Fringe Benefits $ 489,000Contracted Services $ 286,720Utilities and Insurance $ 220,200
![Page 27: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/27.jpg)
27
Initial FY12-013 General Fund Budget
11-12 Amend #2 Initial 12-13
Revenues $ 76,035,286 $ 76,845,892
Expenditures 76,839,675 76,840,772
Excess(Deficit) Revenues Over Expenditures $ (804,389) $ 5,120
Fund Balance – Beginning $ 7,466,082 $ 6,661,693
Fund Balance – Ending $ 6,661,693 $ 6,666,813
Fund Balance Percent* 8.67% 8.68%
Summary
*Target = 5% - 10% of Expenditure budget
![Page 28: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/28.jpg)
PROPOSED “OTHER FUNDS” FY12-13 BUDGETS
28
Main Point is Impact on Operating Budget:
Designated Fund $2.61Million Revenue Budget
(Scholarships, Student Enrichment, Copy Machines, Paid Parking, Designated Technology Fee)
Auxiliary Enterprise Fund--$1 Million Budget$728,940 Net “profit” supplements General Fund
(Catering, Vending, Bookstore, Computer Lab Printing, Lapeer Campus Auxiliary)
![Page 29: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/29.jpg)
PROPOSED “OTHER FUNDS” FY12-13 BUDGETS
29
Main Point is Impact on Operating Budget:
Debt Retirement FundMillage Rate remains at 0.87 mill to meet debt obligations
Capital Funds—repair, upgrade of buildings, equipment, technology, vehicles ($104 million in net value)
Instructional Technology Fee = $1.66 Million per year
$1.24 million per year planned transfer from General Fund (minimum required annual expenses).
![Page 30: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/30.jpg)
CAPITAL FUNDING
![Page 31: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/31.jpg)
• MCC’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.”
Link to Mission and Strategic Plans
![Page 32: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/32.jpg)
Ass
et V
alu
e
New End of LifePremature End of Life
MCC Asset Value vs. Time
(Asset Life)Planned Maintenance points
Extended Life
![Page 33: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/33.jpg)
Deferred Maintenance
• Planned maintenance not performed when scheduled
• Usually lack of funding – can be a liability
• Leads to earlier asset replacement due to premature end of life
![Page 34: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/34.jpg)
Deferred Replacement
• Planned asset replacement not performed when scheduled – Usually lack of funding – Can be a liability for the College
• “Run-to-failure” mode of operation – Uses capital that should be
scheduled for other purposes
![Page 35: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/35.jpg)
Capital Asset Funding• Current 10 year needs
are approximately $85 million
• Taxable Values Declining
• Availability of Bonds?
• Approx. $1.7 million in tech fees annually
![Page 36: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/36.jpg)
TUITION PROPOSAL(CALENDAR YEAR 2013)
36
![Page 37: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/37.jpg)
$61.15
$70.55$86.52
$103.37
$61.34
$99.88
$133.30
$168.82
$60.00
$70.00
$80.00
$90.00
$100.00
$110.00
$120.00
$130.00
$140.00
$150.00
$160.00
$170.00
2001-2002 2004-2005 2009-2010 2011-2012
Actual
Hypothetical
What if Tuition Covered State Aid Losses?Add in Property tax loss =
$325.48
![Page 38: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/38.jpg)
Tuition & Fees: Local ComparisonCollege Yearly Tuition & Fees
Mott CC 3,644 Saginaw Valley University 8,134 Eastern Michigan University 8,637University of Michigan - Flint 9,182 Oakland University 9,938 Baker College - Flint 10,080 Ferris State University 10,440 Central Michigan University 10,950 University of Michigan – Ann Arbor 12,634Michigan State University 12,821Davenport University 15,150 ITT Technical of Flint 31,272Kettering University 33,946
Cost as based on in district/state rates from the College’s web sites
MCC’s annual cost is approximately 45% of that of the next most affordable college/university in our
area.38
![Page 39: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/39.jpg)
Tuition Recommendation
39
2012 Calendar
Year Rate
2013 Calendar
Year Rate IncreasePer Contact In-District Rate 108.05$ 117.23$ 9.18$ Hour: Out of District Rate 161.75$ 170.93$ 9.18$
Out of State Rate 215.49$ 243.00$ 27.51$ Institutional Technology Fee 6.19$ 6.72$ 0.53$ Student Services Fee 108.05$ 117.23$ 9.18$
![Page 40: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/40.jpg)
40
![Page 41: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/41.jpg)
Key Assumptions – RevenueTuition and fee revenue increases at 3.9% each yearProperty tax revenue decreases for 1 year with flat and slight increases (1.5-2.5%) thereafter0.6410 Mill Voted Operating Millage is renewed for 10 years starting with FY08-09State appropriations increase at 3% for two years and 2% increases thereafterOther revenues increase by 2% each yearTotal revenue increases by avg. of 2.8%
41
![Page 42: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/42.jpg)
Key Assumptions - ExpensesSalaries and wages increase by 3.1% for one year and then 3.8% thereafterFringe benefits increases at a historical average rate of 4.5% each yearOther expenses increase by avg. of 3% each yearTotal expenses increase by avg. of 3.7% each year
42
![Page 43: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/43.jpg)
Projected General Fund Deficit would be $12.9 Million at end of FY18-19, if current trends continued (Revenue growth of 2.8% vs. expenditure growth of 3.7%)Based on an average projected gap of $3.2 million per year to be filled with budget-balancing solutionsShort-term savings and flexibility continues to be keyLong-term strategy of managing total compensation costs
43
![Page 44: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/44.jpg)
7 Year Forecast at June 2012
Forecasts:>>>>>>>>>>>>>>>>>>>
Note: the forecast illustrates proforma data if current trends were to continue. The College is obligated to balance it’s budget each year and will take necessary steps to do
so.44
Revenues
Amended
Budget
2011-2012
Initial
Budget
2012-2013 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19
Tuition and Fees 39.0 40.6 42.2 43.9 45.6 47.4 49.2 51.1
Property Taxes 18.9 17.7 17.1 17.1 17.4 17.6 17.9 18.4
State Appropriations 14.4 15.0 15.5 15.9 16.3 16.6 16.9 17.2
All Others 3.7 3.5 3.6 3.7 3.7 3.8 3.9 4.0
Total Revenue 76.0 76.8 78.4 80.6 83.0 85.4 87.9 90.7
Revenue I ncrease (Decrease): 1.0% 2.1% 2.8% 2.9% 2.9% 3.0% 3.2%
Expenditures
Salaries 39.5 40.6 41.8 43.4 45.1 46.8 48.6 50.4
Fringe Benefi ts 17.6 17.0 17.8 18.6 19.4 20.3 21.2 22.2
All Others 19.7 19.2 20.4 20.9 21.4 21.9 22.4 23.0
Total Expenditures 76.8 76.8 80.0 82.9 85.9 89.0 92.2 95.6
Expenditure I ncrease (Decrease): -0.1% 4.1% 3.6% 3.6% 3.6% 3.6% 3.6%
Surplus/(Deficit): -0.80 0.01 (1.6) (2.3) (2.9) (3.6) (4.3) (4.9)
Fund Balance 6.7 6.7 5.1 2.8 (0.1) (3.7) (8.0) (12.9)
Final
Forecast
at
6/30/11
47.4
20.9
15.4
3.9
87.6
2.6%
48.9
20.5
23.1
92.5
3.3%
(4.9)
(13.7)
![Page 45: Mott Community College Board of Trustees Committee of the Whole Meeting June 25, 2012 BUDGET RESOLUTIONS](https://reader037.vdocument.in/reader037/viewer/2022110206/56649d155503460f949ea574/html5/thumbnails/45.jpg)
Mott Community College
Board of TrusteesCommittee of the Whole
MeetingJune 25, 2012
Questions or Comments?
For More Info.: Contact Larry Gawthrop, CFO (810) 762-0525 or [email protected]
Details Provided with Board Resolutions 1.39 and 1.40