1. 2016-17 Annual Budget Control Officers Meeting
November 2, 2016
ATC Auditorium
8: :00 a.m.

2. Agenda Welcome – Lisa Budget/Facilities Update – Lisa
Audit/Budget Results – Jim
Timeline & Department Planning – Jim
Mid Year & Beyond – Lisa
Supplier Diversity Update – Mansfield
Pro-Cards – Mansfield

3. 2015-16 Audit/Budget Results
Unmodified or “clean” audit opinion
No management letter comments (7th year in a row!)
Summary of General Fund:
* Includes transfers of $4.5 million to the Plant fund
Revenues
$109,858,392
Expenses & Transfers*
($109,056,648)
Add to Net Position
$801,744
Net Position at 6/30/16
$11,923,259
Net Position/Revenues (BOT target = 10% - 15%)
10.85%

4. 2015-16 Revenue Variances Tuition/Fees Property Taxes State Aid Other
Budget
Actual
Variance
Tuition/Fees
$52,244,388
$53,118,951
$874,563
Property Taxes
$29,711,482
$29,903,376
$191,894
State Aid
$24,597,084
$24,637,438
$40,354
Other
$1,953,286
$2,198,627
$245,341
Total
$108,506,240
$109,858,392
$1,352,152

5. 2015-16 BCO Controllable Expense Variances
Budget
Actual
Variance
Students
$1,391,165
$998,915
$392,250
Contract Svcs
$4,288,297
$3,713,703
$574,594
Supplies/Repair
$5,073,839
$4,781,336
$292,503
Rentals
$580,080
$440,395
$139,685
Other
$1,271,031
$1,348,563
($77,532)
Equipment
$344,581
$250,185
$94,396
Total
$12,948,993
$11,533,097
$1,415,896
Overall, 89.1% of controllable budgets were utilized.

6. BCO Controllable Expense Variances
Fiscal Year
Total Cost Centers
Overspent > $1K %
126 19
15.1%
125
15.2%
127 18
14.4%
120 15
12.5%
122
15.6%
118
16.1%
115 30
26.1%
102 45
44.1%
Continued Good Work by All of You!

7. 2017-18 Budget Timeline – Key BCO dates:
Dec 2, 2016: mid-year budget requests due in PS
Mid year criteria will be the same as in
On-line forms now available in HRPROD. Be sure to select “Create Midyear Request” and then “ Fiscal Year” from the dropdown
March 3, 2017: Department Plans, ZBB Templates, Budget Requests and Space Requests due to immediate supervisors (if not an EBCO)
March 17, 2017: Annual IT project requests due via on-line submission
March 17, 2017: Department Plans, ZBB Templates Budget Requests and Space Requests due to EBCO’s

8. Department Planning Workshop
Mark your calendars: Thursday, Jan 19, Department Planning, Budgeting, Space Planning & Technology Overview, 1:00 to 2:30 p.m., 108 Sneden
Not mandatory
Recommended for new BCO’s or those new to GRCC (but all are welcome)
You may have your support staff attend with you
For questions or further info, contact Donna Kragt in IRP

9. Mid Year and Beyond 2016-17 balanced budget adopted by BOT in June:
Total Revenues $107,968,904
Total Expenditures & Transfers $107,927,432
Change in Net Assets (maintains10%) $ ,472
Significant Assumptions:
6% decline in billing units
Increases of 1.75% for property taxes and 1.4% for state aid
28 positions vacated due to the VESP. Seven were not refilled and represent salary reductions. Remaining refilled at generally lower salaries and/or reallocated to other areas.
New programming for the college success center (including two new success coaches), mandatory orientation and the brewing program.
Maintain (at $875,000) of the budgeted transfer to the Plant Fund for deferred maintenance and the IT tactical plan.

10. Mid Year and Beyond
Total fall 2016 billing units are 3.1% AHEAD of budget. Extrapolated to winter and summer, this would mean additional gross revenue of over $1 million.
Winter 2017 enrollment will be a key indicator of what we’ll need to project for
There is uncertainty around how much we will be impacted going forward by the state’s personal property tax reform. We are assuming that we will receive $350K in reimbursement from the state for lost revenue in (nothing to date).
Negotiations are still in progress on a FA contract
The health care “cap” will increase 3.3% for and any MPSERS changes are not yet known.
The ASA division will be completing ZBB for
We also have a need to continue to plan for future reinvestment in academic programs and capital resources.

11. Supplier Diversity Update:

12. Supplier Diversity Update:
$2,001,055.68

13. Supplier Diversity Update:

14. Supplier Diversity Update: www.grcc.edu/purchasing/resources

15. Pro-Cards: Please be informed that most GRCC Travel Cards
expired 9/30/16. Replacement cards were issued,
however we will receive new chip cards later this
month. Thanks to those of you who agreed to wait
for the chip card.
Please be informed that most GRCC Procards will expire 11/30/16. New cards will be distributed Tuesday, Nov 8th, in the Enrollment Center from Afterwards, cards can picked up at the Purchasing office.
Security enhancements:
Embedded chip
Enhanced protection from unauthorized use
Requires the chip to produce a single use code to validate the transaction
Insertion in chip reader vs. swiping
Wider use
International Acceptance (Europe, Asia, Canada, Mexico and
South America)

16. Questions/Comments?

17. Thanks for attending!