Maderia Ellison, Director of Financial Services Northland Pioneer College June 11, 2015.

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Presentation transcript:

Maderia Ellison, Director of Financial Services Northland Pioneer College June 11, 2015

 Money Doesn’t Grow on Trees

  Gain a high level understanding of: 1.How the State of Arizona funds Universities & Community Colleges 2.How the funding model for Community Colleges is changing 3.How funding impacts you as an employee Learning Objectives

 Arizona Budget - Enacted General Fund Revenues

 Arizona Budget Higher Ed Reductions Universities FY 2016 Reduction ASU$53.3 million NAU$17.3 million U of A$28.4 million Community Colleges FY 2016 Reduction Maricopa$8.8 million Pima$7.1 million Pinal$1.0 million

 Arizona Budget Community Colleges

 Historic Funding Model Community Colleges

  Operating State Aid (A.R.S. § )  Support operating and maintenance expenses  Funding formula is based on enrollment  STEM Funding (A.R.S. § )  Support for science, technology, engineering and mathematics (STEM) and workforce programs  Equalization Aid (A.R.S. § and § )  Support to community colleges that have an insufficient property tax base Community Colleges Funding Sources - State

  Property Taxes (A.R.S. § )  Community Colleges have authority to levy taxes on property  Primary - Support operating and maintenance expenses  Secondary – Voter approved; supports debt  Truth in Taxation (A.R.S. § )  Increase requires hearing  Maximum increase is 2% increase Community Colleges Funding Sources - Local

  Tuition  AZ Constitution state “…instruction furnished shall be as nearly free as possible”  How Students Pay for Tuition  Grants - Pell implemented new restrictions July 2012  Scholarships – Limited and competitive  Student Loans – Default rates are increasing  Employers/Third Parties - Have limited funding Community Colleges Funding Source - Students

  Compensation  Furlough  Downsize  Reorganize  Department Budgets/Programs  Reductions  Eliminations  Defer costs Funding Reductions Impacts to Employees

  Joint Legislative Budget Committee  Arizona Budgets for Universities and Community Colleges   Arizona State Legislature  State Constitution & Arizona Revised Statutes  Financial Reports for Universities and Community Colleges   Office of the Auditor General  Financial Reports for Universities and Community Colleges  Websites