1. HEARTLAND COMMUNITY COLLEGE FINANCIAL UPDATE OCTOBER 16, 2009

2. Credit Hour Enrollment Increase 20,000 + Heartland State Grant Funding $2,448,733 - $2,232,002 = ($216,731) Heartland Tuition and Fee Rate $60 - $95 per credit hour FY2005 – FY2010

3. Heartland Operating Tax Revenue $7,165,096 - $9,890,271 = $2,725,175 Technology Funding $10,500,000 FY2005 – FY2010

4. FY2010 OPERATING FUND REVENUES BY SOURCE Funding Source Education Fund O&M Fund Total Operating Revenues Local Support$7,923,182$2,639,860$10,563,042 State Support2,210,74133,0712,243,812 Tuition & Fees10,490,503239,04010,729,543 Other & Federal1,880,98626,9411,907,927 Transfers19,500 39,000 Total Revenues$22,524,912$2,958,412$25,483,324

5. FY2010 OPERATING FUND REVENUES BY SOURCE

7. FY2010 OPERATING FUND EXPENDITURES BY OBJECT ObjectEducation Fund O&M Fund Total Operating Expenditures Salaries & Benefits$17,592,254$451,199$18,043,453 Contractual Services1,453,877595,3972,049,274 General Materials & Supplies1,379,37595,1381,474,513 Conferences & Meetings344,00012,000356,000 Fixed Charges203,853144,038347,891 Utilities01,340,000 Capital Outlay163,084120,640283,724 Other1,240,4690 Contingency50,000 100,000 Transfers98,000100,000198,000 Total Expenditures$22,524,912$2,908,412$25,433,324

8. FY2010 OPERATING FUND EXPENDITURES BY OBJECT

9. EDUCATION AND O&M FUNDS Revenue SourceFY2009 Budget FY2010 Budget Difference Local Taxes$8,470,067$8,843,780$373,713 Local Taxes – Equity Tax1,008,8791,046,49137,612 Student Tuition &Fees8,773,10010,729,5431,956,443 State Grants2,230,1832,243,81213,629 CPPRT960,000672,771(287,229) Sales &Service Fees (CE)1,670,8191,754,36083,541 Investment Income305,00085,317(219,683) Federal & Other65,00068,2503,250 Transfers In (WC Fund Interest) 117,00039,000(78,000) Total Revenues$23,600,048$25,483,3241,883,276

10. FY2009 and FY2010 OPERATING FUND EXPENDITURES BY OBJECT ObjectFY2009FY2010% Increase/ Decrease Salaries & Benefits$16,354,170$18,043,453$1,689,283 Contractual Services1,953,8442,049,27495,430 General Materials & Supplies1,406,5211,474,51367,992 Conferences & Meetings374,000356,000(18,000) Fixed Charges283,788347,89164,103 Utilities1,192,1841,340,000147,816 Capital Outlay485,332283,724(201,608) Other1,127,3391,240,469113,130 Contingency100,000 0 Transfers322,870198,000(124,870) Total Expenditures$23,600,048$25,433,324$1,833,276

11. FY2010 BUDGET CONSIDERATIONS Dramatic uncertainty in State support Significant reduction in business profits tax revenue (CPPRT) Interest income decline EAV increase slowing Employee compensation increases @ 3.8% Employee benefits cost increase @ 4.5% Increased personnel costs due enrollment growth Limit growth of other personnel costs Limit discretionary expenditures – capital outlay, materials & supplies, conference & meeting expense Maintain commitment to technology

12. The Rest of the Budget…

13. SUMMARY OF FY2010 BUDGET BY FUND - GENERAL Education Fund O&M Fund Liability, Protection & Settlement Fund Beginning Balance$2,065,805$2,228,264$168 Budgeted Revenues22,505,4122,938,9121,933,000 Budgeted Expenditures22,426,9122,808,4121,933,000 Budgeted Transfer - From Other Funds19,500 0 - (To) Other Funds(98,000)(100,000)0 Budgeted Ending Balance$2,065,805$2,278,264$168

14. SUMMARY OF FY2010 BUDGET BY FUND – SPECIAL REVENUE Restricted Purposes Fund Audit FundSelf Insurance Fund Beginning Balance$32,000,000$13,027$674,069 Budgeted Revenues11,217,463103,5432,080,300 Budgeted Expenditures41,670,272103,5431,863,270 Balance Transfer - From Other Funds000 - (To) Other Funds000 Budgeted Ending Balance $1,547,191$13,027$891,099

15. SUMMARY OF FY2010 BUDGET BY FUND Bond & Interest Fund Trust and Agency Fund O&M Fund (Restricted) Beginning Balance$2,390,238$102,072$1,794,026 Budgeted Revenues5,864,772400,00085,000 Budgeted Expenditures5,844,722400,0001,575,000 Budgeted Transfers - From Other Funds00100,000 - (To) Other Funds000 Budgeted Ending Balance$2,410,238$102,072$404,026

16. SUMMARY OF FY2010 BUDGET BY FUND Auxiliary Enterprises Fund Working Cash Fund Beginning Balance$0$3,900,000 Budgeted Revenues1,634,11539,000 Budgeted Expenditures1,732,1150 Budgeted Transfers - From Other Funds98,0000 - (To) Other Funds0($39,000) Budgeted Ending Balance$0$3,900,000

17. QUESTIONS? THANK YOU