Kern Community College District Adopted Budget

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Presentation transcript:

Kern Community College District Adopted Budget 2013-2014 Report Presentation September 12, 2013

Kern Community College District STATE BUDGET FRAMEWORK In the 2013-14 Enacted Budget General Fund $96.3 B Special Funds $49.0 B Total Funds $145.3 B

Kern Community College District STATE BUDGET FRAMEWORK CCC Share - General Fund $3.5 B Special Funds (P-tax) $2.4 B Total Funds $5.9 B

Kern Community College District 2013-14 State Budget Structural Shortfall

Kern Community College District State Budget Framework Recent History . . . . CCC lost about $1.5 billion in state funding Eliminated 100,000 courses Shut out 500,000 students State poised to restore funding

Kern Community College District State Revenues (Big Three) Personal Income Tax: Sales and Use Tax, Corporations General Fund and Education Protection Account Combined

Kern Community College District 2013-14 CCC P-98 Summary Adjustments $89.4M 1.63% Enrollment Restoration/Access/Growth $87.5M 1.57% COLA $50M Student Success/Matriculation $47M Energy Efficiency/Prop. 39 $25M Adult Education $15M/$15M DSPS/EOPS $16.9M Online Education $8M CalWorks

Kern Community College District Projected Unrestricted Ending Fund Balance $21.0 million or 19.91% Unallocated District Wide = $11.6 million College = $9.4 million

Kern Community College District

Kern Community College District

Kern Community College District 2013-14 General Fund – Unrestricted and Restricted

Kern Community College District 2013-14 Comprehensive FTES Targets

Kern Community College District Compliance Tests General Unrestricted Fund Salaries and Benefits Goal less than 80%; Projected 2013-14 = 78.0% Unrestricted Reserve = 19.91%

Kern Community College District Compliance Tests Projected 50% Law Calculation 51.16% Projected Fall 2013 Full Time Faculty 366.6 Less FTFO - 348.8 Difference + 17.8

Kern Community College District Potential Threats to KCCD Budget Assumptions Redevelopment Agency Funds not being backfilled; potential $1 to $2 million loss in funding Continued CDC Subsidy Requirements of $396,000