CERRITOS COLLEGE PROPOSED ADOPTED BUDGET SUMMARY DAVID EL FATTAL LOLA RIZKALLAH BUSINESS SERVICES OCTOBER 6, 2010

BUDGET 2 Although the State of California has yet to adopt its own budget, the College is required to have its annual budget adopted by the Board of Trustees. This Budget provides a snapshot-in-time view of the District’s projected revenues and expenditures. Projections are based upon the best and most current information available from both internal and external sources. Budget revisions will be presented to the Board of Trustees throughout the year as new information becomes available. An amended budget will be presented to the Board of Trustees after the District receives detailed budget information via the Chancellor’s Office Budget workshop.

GENERAL FUND UNRESTRICTED 3

BUDGET ASSUMPTIONS ESTIMATED EXPENDITURES: Expenditures reflect a net marginal increase as follows: Health & Welfare: $400,000 Step and Column: $500,000 Utilities and other rate driven: $250,000 PERS Rate Increase: $306,588 No Board Election for 2010: ($726,600) District support for Categorical Programs$717,000 $1,446,988 4 ESTIMATED REVENUES: Revenue assumptions reflect the marginal loss of $320,600 negative COLA.

BUDGET ASSUMPTIONS CASH FLOW PROJECTION As of September 20, 2010, Cerritos College has on hand in the General Fund-Unrestricted a total of $4,657, in cash, of which $2,500,000 was borrowed from another fund (Fund 41.0). The State will not provide any apportionment revenues to community colleges until a state budget is adopted. The College has not yet received any apportionment payments for fiscal year

PROJECTED REVENUE 6

BEGINNING BALANCE & PROJECTED REVENUE 7

PROJECTED EXPENDITURES 8 CERRITOS COMMUNITY COLLEGE DISTRICTCERRITOS COMMUNITY COLLEGE DISTRICT ACTUAL YEAR END AND PROPOSED ADOPTED BUDGET ACTUAL YEAR END AND PROPOSED ADOPTED BUDGET GENERAL FUND SUMMARYGENERAL FUND SUMMARY CERRITOS COMMUNITY COLLEGE DISTRICTCERRITOS COMMUNITY COLLEGE DISTRICT ACTUAL YEAR END AND PROPOSED ADOPTED BUDGET ACTUAL YEAR END AND PROPOSED ADOPTED BUDGET GENERAL FUND SUMMARYGENERAL FUND SUMMARY CERRITOS COMMUNITY COLLEGE DISTRICTCERRITOS COMMUNITY COLLEGE DISTRICT ACTUAL YEAR END AND PROPOSED ADOPTED BUDGET ACTUAL YEAR END AND PROPOSED ADOPTED BUDGET GENERAL FUND SUMMARYGENERAL FUND SUMMARY CERRITOS COMMUNITY COLLEGE DISTRICTCERRITOS COMMUNITY COLLEGE DISTRICT ACTUAL YEAR END AND PROPOSED ADOPTED BUDGET ACTUAL YEAR END AND PROPOSED ADOPTED BUDGET GENERAL FUND SUMMARYGENERAL FUND SUMMARY CERRITOS COMMUNITY COLLEGE DISTRICTCERRITOS COMMUNITY COLLEGE DISTRICT PROPOSED TENTATIVE BUDGET PROPOSED TENTATIVE BUDGET GENERAL FUND - UNRESTRICTED SUMMARY ( FUND 01.0 )GENERAL FUND - UNRESTRICTED SUMMARY ( FUND 01.0 )

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PROJECTED RESERVES & ENDING BALANCE 10

GENERAL FUND RESTRICTED- CATEGORICAL 11

BUDGET ASSUMPTIONS ESTIMATED REVENUES/EXPENDITURES: For the fiscal year , budget reductions have been implemented programs were affected as follows: CalWORKs EOPS Matriculation (credit & non-credit) DSPS The District has allocated a total of $717,000 as support for Categorical Programs.We anticipate this amount changing once solid information for becomes available. The Adopted Budget only includes salaries & benefits for the above programs. 12

PROJECTED REVENUE 13 CERRITOS COMMUNITY COLLEGE DISTRICTCERRITOS COMMUNITY COLLEGE DISTRICT ACTUAL YEAR END AND PROPOSED ADOPTED BUDGET ACTUAL YEAR END AND PROPOSED ADOPTED BUDGET GENERAL FUND - RESTRICTED SUMMARY ( 03 FUND )GENERAL FUND - RESTRICTED SUMMARY ( 03 FUND ) CERRITOS COMMUNITY COLLEGE DISTRICTCERRITOS COMMUNITY COLLEGE DISTRICT ACTUAL YEAR END AND PROPOSED ADOPTED BUDGET ACTUAL YEAR END AND PROPOSED ADOPTED BUDGET GENERAL FUND - RESTRICTED SUMMARY ( 03 FUND )GENERAL FUND - RESTRICTED SUMMARY ( 03 FUND )

BEGINNING BALANCE & PROJECTED REVENUE 14

PROJECTED EXPENDITURES 15

PROJECTED EXPENDITURES & ENDING BALANCE 16

CERTIFICATES OF PARTICIPATION FUND 17

BUDGET ASSUMPTIONS BALANCE FROM THE DISTRICT’S COPS ISSUE: This fund was designated to provide COPS money for major technology and construction/remodeling projects on campus. Currently the remainder of the fund is being utilized for software conversions. 18

BEGINNING BALANCE & PROJECTED REVENUE 19

PROJECTED EXPENDITURES & ENDING BALANCE 20

SPECIAL REVENUE FUND 21

BUDGET ASSUMPTIONS ESTIMATED REVENUES/EXPENDITURES: This fund was established to account for the financial activities of the following entities with total revenue and expenditures, including carryover, projected as follows: Community Education: $1,299,280 Contract Education: $ 80,234 Cosmetology: $ 200,000 Culinary Arts: $ 172,600 Parking: $1,227,897 $2,989,011 22

PROJECTED REVENUE 23

BEGINNING BALANCE & PROJECTED REVENUE 24

PROJECTED EXPENDITURES 25

PROJECTED EXPENDITURES & ENDING BALANCE 26

VINTAGE CERRITOS STUDENT SUCCESS 27

BUDGET ASSUMPTIONS ESTIMATED REVENUES/EXPENDITURES: This fund was established to account for income generated from ground lease payments received as a result of the senior care project. Funds have been designated to be used exclusively for activities related to student success as designated by the Board. Revenue: Ground Lease: $380,267 (plus occupancy rate incentives) Expenditures: Sakai r-Smart: $28,000 Library Information System: $52,297 28

BEGINNING BALANCE & PROJECTED REVENUE 29

PROJECTED EXPENDITURES 30

PROJECTED EXPENDITURES & ENDING BALANCE 31

CAPITAL OUTLAY FUND 32

BUDGET ASSUMPTIONS ESTIMATED REVENUES/EXPENDITURES: This fund was established to account for State Scheduled Maintenance and Construction/ Remodeling projects. Other activities include District Match (when funds are available), Technology Needs and Construction Augmentation. Expenditures: GYM Seismic Retrofit: $8,734,000 Scheduled Maintenance: $ 699,441 Local Projects: $1,793,223 33

PROJECTED REVENUE 34

BEGINNING BALANCE & PROJECTED REVENUE 35

PROJECTED EXPENDITURES 36

PROJECTED EXPENDITURES & ENDING BALANCE 37

REVENUE AND CONSTRUCTION FUND 38

BUDGET ASSUMPTIONS ESTIMATED REVENUES/EXPENDITURES: This fund was established to track all projects generated by the GO Bond funds. Expenditure highlights: Auto Tech Modernization: $4,645,931 Physical Science/Technology (CLO #1): $4,546,243 Facilities/Warehouse/Purchasing: $3,747,304 Aquatic Center (shade/storage) $ 750,000 Fire Alarm Upgrade: $ 774,454 39

BUDGET ASSUMPTIONS ESTIMATED REVENUES/EXPENDITURES: Expenditure highlights (cont’d): Liberal Arts Project: $1,250,000 Parking Lot Renovations:$2,682,037 Parking Lot-New:$1,138,605 Social Science Project:$1,185,281 40

BEGINNING BALANCE & PROJECTED REVENUE 41

PROJECTED EXPENDITURES 42

PROJECTED EXPENDITURES & ENDING BALANCE 43

44 SELF-INSURANCE FUND

BUDGET ASSUMPTIONS ESTIMATED REVENUES/EXPENDITURES: This fund was established in to provide for self-insured risk-management expenses. Transfers in/Expenditures: $25,000 45

BEGINNING BALANCE & PROJECTED REVENUE 46

PROJECTED EXPENDITURES & ENDING BALANCE 47

STUDENT HEALTH SERVICES FUND 48

BUDGET ASSUMPTIONS ESTIMATED REVENUES/EXPENDITURES: This fund was established to capture the income and expenditures generated by the Student Health Services Program. This is a self-supporting program. It is estimated that $880,268 will be generated in revenue with expenditures budgeted at $797,

50 PROJECTED REVENUE

BEGINNING BALANCE & PROJECTED REVENUE 51

PROJECTED EXPENDITURES 52

PROJECTED EXPENDITURES & ENDING BALANCE 53

54 RETIREE HEALTH BENEFIT FUND GASB 45

BUDGET ASSUMPTIONS ESTIMATED REVENUES/EXPENDITURES: This fund was established in to initialize the funding of the District’s liability for future payment of employees retirement health benefits. The District will transfer in $500,000 which will bring the balance to $3.7 million in the year. 55

BEGINNING BALANCE & PROJECTED REVENUE 56

PROJECTED EXPENDITURES & ENDING BALANCE 57

FINANCIAL AID FUND 58

BUDGET ASSUMPTIONS ESTIMATED REVENUES/EXPENDITURES: This fund distributes financial aid to students. Programs include: Pell Grant: $40,000,000 SEOG: $ 355,912 Cal Grants: $ 2,002,615 Nursing Grants: $ 14,989 Academic Competitiveness Grant: $ 250,000 Expenditures consist of cash grants 59

PROJECTED REVENUE 60

BEGINNING BALANCE & PROJECTED REVENUE 61

PROJECTED EXPENDITURES & ENDING BALANCE 62

The End For any questions, please contact David El Fattal Ext 2242 Lola Rizkallah Ext 2266 Thank You 63