Budget Development 2002-2003

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Net Working Capital

· For the purposes of projecting future budgets, it is assumed that restricted revenues, including Net Working Capital Restricted, are entirely expended during the year.
· By Board Policy the Unappropriated Ending Fund Balance will be 3% of budgeted revenues.
· All projected carryover (Net Working Capital Unrestricted) is ìon the tableî during budget development.  For the current fiscal year (FY02) Net Working Capital Unrestricted of $3,270,724 was budgeted on the resource side with offsetting expenditures.  The actual Net Working Capital Unrestricted on 7/1/01 was $996,768 above budget.

Revenues: State Sources

· FY03: The college relies on state projections based on the biennial allocation of funds to the community colleges and the funding formula.  The State will be splitting the funding formula allocation 50/50 between FY02 and FY03.
· The projections include a reduction of 2% mandated by the Governor for FY02 and FY03 ($635,878 and $618,493 respectively).
· Projections developed by the State are used for FY04 and beyond.
· In the funding formula, the State uses the assumption that the FTE for each college will increase at the same annual rate.  (For the purposes of calculating tuition, the college uses enrollment projections developed by Institutional Research Assessment & Planning.)

Revenues: Local Property Taxes

· Property tax revenues will increase approximately 4.5% per year.
· Typically, property taxes assessed are not collected at 100%. The college uses a collection rate based on historical trends.  Projections in recent years have used a 92% collection rate. Because the stateís economy has been strong the last few years, actual collection rates have been higher. The adopted budget for the current year uses an estimated collection rate of 93.5%.  [Note: The downturn in the economy of the state and county will cause us to re-examine the rate for FY03. For 2001, the countyís assessed taxes may increase by up to 6.5%, which should virtually offset the high collection rate used for the FY02 budget.]

Revenues: Tuition

· Tuition revenues are projected based on enrollment projections developed by Institutional Research, Assessment & Planning
· Tuition revenue projections are based on total tuition assessed.  Tuition waivers and uncollected tuition are reported as expenditures.
· No increases in tuition rates are projected if not yet approved by the Board.
· Projections use $1292-per-credit-FTE and $494-per-non-credit-FTE to calculate total tuition revenues. These per-FTE rates are based on history and approved Board tuition rates.

Revenues: Mandatory Instructional Fees/Non-Mandatory Instructional Fees/ Other Fees

· Projections assume that all fees collected at 100%.  Uncollected fees are reported as an expenditure.
· All fees are restricted revenue. That is, fees are tied to specific expenditures.  In the budget projections there is an offsetting expenditure for every restricted revenue.

Revenues: Interest on investments:

· The estimated rate for annual return on investments in FY02 is 2.25%. Rates are estimated based on historical returns and current economic indicators.
· The amount invested averages approximately $28,000,000.

Revenues: Sale of Goods and Services assumptions:

· Sales revenues are ìpass throughî, that is, there is an offsetting expenditure for the cost of the goods and services.

Expenditures: Personal Services

· Personal Services expenditures for FY03 use current negotiation parameters.
· For FY04 and beyond projections use ìstepsî plus estimated COLA increases each year.  Projection models may vary COLA rates to determine the effects of different COLAs.
· Each year, approximately 3.6% of Salary Provision (the account for compensation changes not yet allocated to departments) is for non-recurring compensation changes.
· Cost savings through vacancies will be partially offset by part-time backfill.
· OPE rate is recalculated every year using projected actual costs of benefits. Calculated rate for 2001-02 is 45.0%. The rate has yet to be calculated for FY03.

Expenditures: Materials & Services

· No inflationary increase in M&S is built into expenditure projections. M&S budgets are ìrolled overî from the current year into the budget year.

Expenditures: Capital Outlay

· No inflationary increase in Capital Outlay is built into expenditure projections.

Expenditures: Unappropriated Ending Fund Balance:

· According to Local Budget Law, the Unappropriated Ending Fund Balance (UEFB) from previous year may not be spent except under extraordinary circumstances and therefore will be part of the total Ending Fund Balance and a resource (Net Working Capital Unrestricted and part of the Beginning Fund Balance) for the ensuing year.

Expenditures: Contingency:

· It is assumed that current year Contingency will be 100% spent during the year.
· This assumption will change toward the end of the current year to reflect a higher projected Ending Fund Balance (Beginning Fund Balance for the ensuing budget year).

Beginning Fund Balance and Net Working Capital

The spreadsheet and charts below show the history of Net Working Capital from Fiscal Year 1995 through Fiscal Year 2001.  The Beginning Fund Balance (the sum of Net Working Capital Unrestricted and Net Working Capital Restricted from 6/30 the previous year) is shown in dollars, as a percentage of the annual budget, and as the number of months of expenditures the Beginning Fund Balance would cover.

 
 

	FY94	FY95	FY96	FY97	FY98	FY99	FY00	FY01	FY02
NWC Restricted	2,006,396	1,737,725	2,476,321	3,648,639	4,486,443	4,857,015	5,278,803	5,078,913	5,492,722
NWC Unrestricted	4,095,901	4,364,572	6,027,483	5,403,176	4,040,393	4,463,138	6,019,766	5,084,509	4,267,492
Beginning Fund Balance (BFB)		6,102,297	8,503,804	9,051,815	8,526,836	9,320,153	11,298,569	10,163,422	9,760,214
Total Budget		53,545,841	57,707,513	62,067,814	62,749,063	65,485,101	69,481,000	69,331,000	74,978,000
Beginning Fund Balance as % of Budget		11.4%	14.7%	14.6%	13.6%	14.2%	16.3%	14.7%	13.0%
BFB as # months expenses		1.4	1.8	1.8	1.6	1.7	2.0	1.8	1.6

The size of Net Working Capital Restricted grew steadily during the first few years (after Fiscal Year 1994) that both ICP and department Materials & Services balances were carried over into the ensuing fiscal year. Since Fiscal Year 1999 Net Working Capital has leveled off at approximately $5 million.  Since 1999, Net Working Capital Restricted has been large enough to carry the college through four weeks of expenditures. In the current fiscal year, Net Working Capital Restricted includes $1 million authorized in the budget process for transfer to the LASR Project (implementation of Banner information system) and $346,018 in contractually obligated funds.

Net Working Capital Unrestricted has remained steady at between $4 million and $6 million.  Another way to state this is that Net Working Capital Unrestricted typically is enough funds to carry the college through three to five weeks of expenditures.
 
 

Budget Projection Assumptions for FY03 and Beyond · For the purposes of projecting future budgets, it is assumed that restricted revenues, including Net Working Capital Restricted, are entirely expended during the year. · By Board Policy the Unappropriated Ending Fund Balance will be 3% of budgeted revenues. · All projected carryover (Net Working Capital Unrestricted) is ìon the tableî during budget development.  For the current fiscal year (FY02) Net Working Capital Unrestricted of $3,270,724 was budgeted on the resource side with offsetting expenditures.  The actual Net Working Capital Unrestricted on 7/1/01 was $996,768 above budget.

Data Sources for Accompanying Spreadsheet

· ìTotal Budgetî figures are from the collegeís annual Budget Documents
· ìActualî Net Working Capital Restricted and Net Working Capital Unrestricted figures are from Budget Office records.
· Beginning Fund Balance figures are from the Annual Financial Reports

State Revenue

The spreadsheet and chart below show budget and actual revenues from the State of Oregon for the fiscal years 1992 through 2001. Also shown are calculations for (a) the difference in dollars between budget and actual, (b) the dollar increase/decrease from the previous year, and (c) the percent increase/decrease from the previous year.

 
 

STATE RESOURCES HISTORY
	FY92	FY93	FY94	FY95	FY96	FY97	FY98	FY99	FY00	FY01
Budget	10,648,041	15,666,961	18,013,346	20,743,029	24,069,604	24,881,423	27,984,810	28,420,133	29,349,275	29,228,250
Actual	13,176,713	16,552,691	17,385,947	21,415,724	24,555,023	24,760,837	27,442,528	28,660,489	29,255,830	29,760,562
Difference (Actual minus Budget)	2,528,672	885,730	(627,399)	672,695	485,419	(120,586)	(542,282)	240,356	(93,445)	532,312
Actual Inc (Dec) from previous year		3,375,978	833,256	4,029,777	3,139,299	205,814	2,681,691	1,217,961	595,341	504,732
% Increase (Decrease) in Actual		25.6%	5.0%	23.2%	14.7%	0.8%	10.8%	4.4%	2.1%	1.7%

Since the passage of Ballot Measure 5 in 1991, Oregon community colleges have relied more and more on funding from the State.  Phase-in of a funding formula based on enrollment and the passage of Ballot Measure 47/50 have almost reached final implementation, resulting in more stable state funding. However, multiple pressures on the state budget have resulted in state funding increases that do not match the demands of enrollment growth at the community colleges.

One-half of each collegeís property tax revenue is taken into account in the state funding formula.  An explanation of the funding formula is on Laneís Budget Development web site: http://2011sitearchive.lanecc.edu/budget/fundform.htm
 

Budget Projection Assumptions for FY03 and Beyond · FY03: The college relies on state projections based on the biennial allocation of funds to the community colleges and the funding formula.  The State will be splitting the funding formula allocation 50/50 between FY02 and FY03. · The projections include a reduction of 2% mandated by the Governor for FY02 and FY03 ($635,878 and $618,493 respectively). · Projections developed by the State are used for FY04 and beyond. · In the funding formula, the State uses the assumption that the FTE for each college will increase at the same annual rate.  (For the purposes of calculating tuition, the college uses enrollment projections developed by Institutional Research Assessment & Planning.)

Data Sources for Accompanying Spreadsheet

· ìBudgetî revenues are from the collegeís annual Budget Documents
· ìActualî revenues are from the Annual Financial Reports

Local Property Taxes

The spreadsheet and chart below show budget and actual revenues from Local Property Taxes for the fiscal years 1992 through 2001. Also shown are calculations for (a) the difference in dollars between budget and actual, (b) the dollar increase/decrease from the previous year, and (c) the percent increase/decrease from the previous year.

 
 

PROPERTY TAX HISTORY
	FY92	FY93	FY94	FY95	FY96	FY97	FY98	FY99	FY00	FY01
Budget	16,528,060	15,898,184	13,573,000	12,721,000	10,022,078	10,094,914	8,563,326	9,528,365	9,809,388	10,103,502
Actual	17,080,033	16,342,708	14,937,587	12,911,989	9,334,292	10,018,544	9,219,781	9,509,132	9,939,709	10,316,442
Difference (Actual minus Budget)	551,973	444,524	1,364,587	190,989	(687,786)	(76,370)	656,455	(19,233)	130,321	212,940
Actual Inc (Dec) from previous year		(737,325)	(1,405,121)	(2,025,598)	(3,577,697)	684,252	(798,763)	289,351	430,577	376,733
% Increase (Decrease) in Actual		-4.3%	-8.6%	-13.6%	-27.7%	7.3%	-8.0%	3.1%	4.5%	3.8%

 

Since the passage of Ballot Measure 5 in 1991, Oregon community colleges have relied less and less on local property tax revenues.  Since the passage of Ballot Measure 47/50, revenues from property taxes have stabilized and are much more predictable than before FY 99.

Because property taxes are used in the state funding formula, the college uses state projections for property tax receipts. In general, the state uses the assumption that property tax revenues will increase approximately 4.5% per year for Lane County.
 

Budget Projection Assumptions for FY03 and Beyond · Property tax revenues will increase approximately 4.5% per year. · Typically, property taxes assessed are not collected at 100%. The college uses a collection rate based on historical trends.  Projections in recent years have used a 92% collection rate. Because the stateís economy has been strong the last few years, actual collection rates have been higher. The adopted budget for the current year uses an estimated collection rate of 93.5%.  [Note: The downturn in the economy of the state and county will cause us to re-examine the rate for FY03. For 2001, the countyís assessed taxes may increase by up to 6.5%, which should virtually offset the high collection rate used for the FY02 budget.]

Data Sources for Accompanying Spreadsheet

· ìBudgetî revenues are from the collegeís annual Budget Documents
· ìActualî revenues are from the Annual Financial Reports
 
 

Tuition

The spreadsheet and chart below show budget and actual revenues from tuition for the fiscal years 1992 through 2001. Also shown are calculations for (a) the difference in dollars between budget and actual, (b) the dollar increase/decrease from the previous year, and (c) the percent increase/decrease from the previous year.

 
 

TUITION HISTORY
	FY92	FY93	FY94	FY95	FY96	FY97	FY98	FY99	FY00	FY01
Budget	7,220,000	8,259,000	8,976,000	10,095,000	10,770,000	11,666,500	11,450,000	11,997,000	12,000,000	12,300,000
Actual	7,952,048	8,362,405	9,057,029	10,243,326	10,655,786	10,854,937	10,820,982	12,532,586	12,937,821	12,997,798
Difference (Actual minus Budget)	732,048	103,405	81,029	148,326	(114,214)	(811,563)	(629,018)	535,586	937,821	697,798
Actual Inc (Dec) from previous year		410,357	694,624	1,186,297	412,460	199,151	(33,955)	1,711,604	405,235	59,977
% Increase (Decrease) in Actual		5.2%	8.3%	13.1%	4.0%	1.9%	-0.3%	15.8%	3.2%	0.5%
FTE	9,098	9,843	9,537	9,328	12,142	12,007	12,122	11,969	12,449	12,760
Tuition Revenue per FTE	874	850	950	1,098	878	904	893	1,047	1,039	1,019

 

Budget Projection Assumptions for FY03 and Beyond · Tuition revenues are projected based on enrollment projections developed by Institutional Research, Assessment & Planning · Tuition revenue projections are based on total tuition assessed.  Tuition waivers and uncollected tuition are reported as expenditures. · No increases in tuition rates are projected if not yet approved by the Board. · Projections use $1292-per-credit-FTE and $494-per-non-credit-FTE to calculate total tuition revenues. These per-FTE rates are based on history and approved Board tuition rates.

Data Sources for Accompanying Spreadsheet

· ìBudgetî revenues are from the collegeís annual Budget Documents
· ìActualî revenues are from the Annual Financial Reports

Mandatory Instructional Fees/Non-Mandatory Instructional Fees/ Other Fees

The spreadsheet and chart below show budget and actual revenues from mandatory instructional fees, non-mandatory instructional fees, and other miscellaneous fees for the fiscal years 1992 through 2001. Also shown are calculations for (a) the difference in dollars between budget and actual, (b) the dollar increase/decrease from the previous year, and (c) the percent increase/decrease from the previous year.

 
 

INSTRUCTIONAL FEES HISTORY
	FY92	FY93	FY94	FY95	FY96	FY97	FY98	FY99	FY00	FY01
Budget	1,957,400	1,817,065	2,041,700	2,267,679	2,567,625	2,911,160	3,118,960	3,077,985	3,198,806	3,364,414
Actual	1,604,182	1,736,826	1,793,330	2,131,870	2,331,768	2,645,851	2,680,508	3,057,503	2,972,431	3,338,481
Difference (Actual minus Budget)	(353,218)	(80,239)	(248,370)	(135,809)	(235,857)	(265,309)	(438,452)	(20,482)	(226,375)	(25,933)
Actual Inc (Dec) from previous year		132,644	56,504	338,540	199,898	314,083	34,657	376,995	(85,072)	366,050
% Increase (Decrease) in Actual		8.3%	3.3%	18.9%	9.4%	13.5%	1.3%	14.1%	-2.8%	12.3%
FTE						12,007	12,122	11,969	12,449	12,760
Instructional Fees Revenue per FTE						220.4	221.1	255.5	238.8	261.6

Increases in fee revenue from year to year can be the result of (a) increases in enrollment or number of users, and/or (b) increases in fee rates.
 

Budget Projection Assumptions for FY03 and Beyond · Projections assume that all fees collected at 100%.  Uncollected fees are reported as an expenditure. · All fees are restricted revenue. That is, fees are tied to specific expenditures.  In the budget projections there is an offsetting expenditure for every restricted revenue.

Data Sources for Accompanying Spreadsheet

· ìBudgetî revenues are from the collegeís annual Budget Documents
· ìActualî revenues are from the Annual Financial Reports
 

Miscellaneous Revenue Sources
 

Budget Projection Assumptions for FY03 and Beyond Interest on investments: · The estimated rate for annual return on investments in FY02 is 2.25%. Rates are estimated based on historical returns and current economic indicators. · The amount invested averages approximately $28,000,000.  Sale of Goods and Services assumptions: · Sales revenues are ìpass throughî, that is, there is an offsetting expenditure for the cost of the goods and services.

Note on investments:
While expenditure patterns for the college are relatively stable from month to month the receipt of revenues is not.  The college receives large amounts of money at particular times of the year as noted below:

Quarterly payments from the state: August, October, January, April
Property tax revenues:   December or January
Tuition and fee receipts:  September, January, March

Quite large amounts of money may be invested in January, for example, awaiting expenditures over the remainder of the fiscal year.

General Assumptions

Budget projections assume that the college will maintain ìcurrent service levelî expenditures. That is, the college will continue to offer the current mix and level of programs and services.  (The budgeting model used by the college is a modified incremental model where current-year budgets are considered as the starting point for budget development for the following year.)

Budget projections for future years include $700,000 in additional unidentified expenditures (recurring annually) to cover ìmandatoryî expenditure increases.

Personal Services

The spreadsheet and chart below show budget and actual expenditures for Personal Services for the fiscal years 1992 through 2001. Also shown are calculations for (a) the difference in dollars between budget and actual, (b) the dollar increase/decrease from the previous year, and (c) the percent increase/decrease from the previous year.

 
 

	FY92	FY93	FY94	FY95	FY96	FY97	FY98	FY99	FY00	FY01
Expenditures by Object
Personal Services
Budget	30,654,913	33,271,946	35,758,080	36,245,911	38,892,062	41,173,015	41,756,201	43,870,206	45,988,886	47,110,500
Actual	30,955,160	33,521,108	35,571,919	36,361,052	38,918,237	40,878,380	42,695,605	44,745,347	47,146,922	48,679,914
Actual minus Budget	300,247	249,162	(186,161)	115,141	26,175	(294,635)	939,404	875,141	1,158,036	1,569,414
Increase (Decrease) from previous year		2,565,948	2,050,811	789,133	2,557,185	1,960,143	1,817,225	2,049,742	2,401,575	1,532,992
% Inc (Dec) from previous year		8.3%	6.1%	2.2%	7.0%	5.0%	4.4%	4.8%	5.4%	3.3%

Annual increases in Personal Services expenditures are due to (a) increases in employee compensation levels, (b) increases in the OPE (Other Personnel Expenses) rate, (c) increases in staffing levels, or a combination of any of these factors.

The Office of Instruction & Student Services annually allocates money to instructional divisions during the year for ìextraî class sections.  This money is spent for faculty Personal Services however the funds are budgeted under ìReserve for Restricted Revenue Changesî on the Contingency/Projects & Provisions page of the budget.
 

Budget Projection Assumptions for FY03 and Beyond · Personal Services expenditures for FY03 use current negotiation parameters. · For FY04 and beyond projections use ìstepsî plus estimated COLA increases each year.  Projection models may vary COLA rates to determine the effects of different COLAs. · Each year, approximately 3.6% of Salary Provision (the account for compensation changes not yet allocated to departments) is for non-recurring compensation changes. · Cost savings through vacancies will be partially offset by part-time backfill. · OPE rate is recalculated every year using projected actual costs of benefits. Calculated rate for 2001-02 is 45.0%. The rate has yet to be calculated for FY03.

Note:
The figures for total salary base and compensation increases (Salary Provision) are based on the most current updated Position List, which is employee-specific and takes into account where each employee is placed on the salary schedules.

Data Sources for Accompanying Spreadsheet

· ìBudgetî expenditures are from the collegeís annual Budget Documents
· ìActualî expenditures are from the Annual Financial Reports

Materials & Services
The spreadsheet and chart below show budget and actual expenditures for Personal Services for the fiscal years 1992 through 2001. Also shown are calculations for (a) the difference in dollars between budget and actual, (b) the dollar increase/decrease from the previous year, and (c) the percent increase/decrease from the previous year.

 
 

Materials & Services	FY92	FY93	FY94	FY95	FY96	FY97	FY98	FY99	FY00	FY01
Budget	6,927,562	7,152,638	7,818,453	9,386,027	11,736,675	14,224,925	14,548,182	13,646,366	14,043,864	13,821,075
Budget (without NWC Restricted)	6,477,562	6,337,638	6,753,453	8,086,027	10,436,675	12,924,925	13,248,182	11,146,366	11,543,864	11,121,075
Actual	5,936,588	6,179,811	6,733,903	7,606,479	8,253,528	9,300,788	9,004,255	9,613,046	10,092,144	10,713,153
Actual minus Budget	(990,974)	(972,827)	(1,084,550)	(1,779,548)	(3,483,147)	(4,924,137)	(5,543,927)	(4,033,320)	(3,951,720)	(3,107,922)
Increase (Decrease) from previous year		243,223	554,092	872,576	647,049	1,047,260	(296,533)	608,791	479,098	621,009
% Inc (Dec) from previous year		4.1%	9.0%	13.0%	8.5%	12.7%	-3.2%	6.8%	5.0%	6.2%

Budget authority (authorization to expend funds received) for Net Working Capital Restricted is normally included in the ìBudgetî figures, so for comparison a third column is shown for M&S Budget without Net Working Capital Restricted.
 

Budget Projection Assumptions for FY03 and Beyond · No inflationary increase in M&S is built into expenditure projections. M&S budgets are ìrolled overî from the current year into the budget year.

Data Sources for Accompanying Spreadsheet

· ìBudgetî expenditures are from the collegeís annual Budget Documents
· ìActualî expenditures are from the Annual Financial Reports

Capital Outlay

The spreadsheet and chart below show budget and actual expenditures for Personal Services for the fiscal years 1992 through 2001. Also shown are calculations for (a) the difference in dollars between budget and actual, (b) the dollar increase/decrease from the previous year, and (c) the percent increase/decrease from the previous year.

 
 

Capital Outlay	FY92	FY93	FY94	FY95	FY96	FY97	FY98	FY99	FY00	FY01
Budget	444,056	548,454	464,600	450,200	540,200	518,746	285,593	689,936	688,333	670,512
Actual	1,745,106	1,076,902	1,074,954	967,408	1,248,906	1,177,275	590,934	432,474	747,017	581,691
Actual minus Budget		528,448	610,354	517,208	708,706	658,529	305,341	(257,462)	58,684	(88,821)
Increase (Decrease) from previous year		(668,204)	(1,948)	(107,546)	281,498	(71,631)	(586,341)	(158,460)	314,543	(165,326)
% Inc (Dec) from previous year		-38.3%	-0.2%	-10.0%	29.1%	-5.7%	-49.8%	-26.8%	72.7%	-22.1%

 
 

Budget Projection Assumptions for FY03 and Beyond · No inflationary increase in Capital Outlay is built into expenditure projections.

Data Sources for Accompanying Spreadsheet

· ìBudgetî expenditures are from the collegeís annual Budget Documents
· ìActualî expenditures are from the Annual Financial Reports

Miscellaneous Expenditure Categories
 

Budget Projection Assumptions for FY03 and Beyond Unappropriated Ending Fund Balance: · According to Local Budget Law, the Unappropriated Ending Fund Balance (UEFB) from previous year may not be spent except under extraordinary circumstances and therefore will be part of the total Ending Fund Balance and a resource (Net Working Capital Unrestricted and part of the Beginning Fund Balance) for the ensuing year. Contingency: · It is assumed that current year Contingency will be 100% spent during the year. · This assumption will change toward the end of the current year to reflect a higher projected Ending Fund Balance (Beginning Fund Balance for the ensuing budget year).

 

The spreadsheet below shows the transfers from the General Fund to other funds for Fiscal Year 2000-01.  Funds are transferred annually for a variety of purposes.
 
 

		FUNDS
			II	III	IV	V	VI	VIII	X
			Internal	Debt	Capital	Student		Special
Transferred From	Transferred To	Amount	Service	Service	Projects	Financial Aid	Enterprise	Revenue	Endowment
Facilities Management & Planning
Motor Pool	Internal Service Fund (II)	23,533	23,533
Debt Services Loan Payment	Debt Service Fund (III)	102,000		102,000
Major Maintenance	Capital Projects Fund (IV)	118,489			118,489
Capital Repairs/Improvements	Capital Projects Fund (IV)	725,000			725,000
Specialized Employment Services
Laundry	Enterprise Fund (VI)	166,537					166,537
Financial Aid	Student Financial Aid Fund (V)	434,768				434,768
Disability Services
Childcare Resource Center	Special Revenue Fund (VIII)	4,750						4,750
Student Activities
Downtown Center Parking Subisdy	Enterprise Fund (VI)	14,000					14,000
LTD Bus Pass Program	Enterprise Fund (VI)	136,800					136,800
Student Financial Services
Job Placement Office	Student Financial Aid Fund (V)	95,626				95,626
Learn & Earn Program	Student Financial Aid Fund (V)	120,000				120,000
Student Health Services	Enterprise Fund (VI)	271,948					271,948
College Operations Office
Mailroom Support	Internal Service Fund (II)	16,763	16,763
Computer Services
Telephone Services	Internal Service Fund (II)	231,097	231,097
Computer Payment	Debt Service Fund (III)	233,200		233,200
KLCC Endowment	Endowment Fund (X)	500	-	-	-	-	-	-	500
TOTAL TRANSFERS OUT		$   2,695,011	$271,393	$335,200	$843,489	$      650,394	$ 589,285	$    4,750	$          500

 

The spreadsheet and chart below show the history of General Fund Revenues (minus Net Working Capital) over (under) Expenditures and Operating Transfers from Fiscal Year 1995 through Fiscal Year 2001.

 
 

	FY95	FY96	FY97	FY98	FY99	FY00	FY01
Revenues
State & Federal	21,725,931	24,799,591	24,948,769	27,671,711	28,848,379	29,456,241	29,964,650
Property Taxes	12,911,989	9,334,292	10,018,544	9,219,781	9,509,132	9,939,709	10,316,442
Tuition	10,243,326	10,655,786	10,854,937	10,820,982	12,532,586	12,937,821	12,997,798
Mandatory Class Fees	2,131,870	2,331,768	2,645,851	2,680,508	3,057,503	2,972,431	3,338,481
Other	3,783,797	4,308,464	4,619,020	4,977,003	4,969,293	5,278,559	5,673,632
Total Revenues	50,796,913	51,429,901	53,087,121	55,369,985	58,916,893	60,584,761	62,291,003
Expenditures
Instruction	27,847,669	29,317,213	30,547,378	31,893,143	33,074,722	35,259,169	36,453,578
Community Services	725,376	788,682	826,509	963,193	1,017,228	1,081,908	1,128,077
Instructional Support	1,924,601	2,194,626	2,189,053	2,299,945	2,395,012	2,757,368	2,713,706
Student Services	4,431,080	4,646,958	5,072,696	5,025,554	5,529,431	5,887,064	6,441,617
College support services	6,789,253	8,179,024	9,211,256	8,543,162	9,068,809	8,979,649	8,748,173
Plant O&M	3,197,880	3,294,168	3,508,831	3,565,797	3,705,173	4,020,925	4,489,607
Financial Aid	19,080	-	720	-	492	-	-
Total Expenditures	44,934,939	48,420,671	51,356,443	52,290,794	54,790,867	57,986,083	59,974,758
Other Financing Sources (Uses)
Operating Transfers In	368,450	219,374	181,746	192,283	142,015	144,250	163,688
Operating Transfers Out	(3,828,917)	(2,680,593)	(2,437,404)	(2,478,155)	(2,289,627)	(3,878,111)	(2,883,104)
Total Other Financing Sources (Uses)	(3,460,467)	(2,461,219)	(2,255,658)	(2,285,872)	(2,147,612)	(3,733,861)	(2,719,416)
Total Expenditures & Other Sources	48,395,406	50,881,890	53,612,101	54,576,666	56,938,479	61,719,944	62,694,174
Revenues over (under) Expenditures	2,401,507	548,011	(524,980)	793,319	1,978,414	(1,135,183)	(403,171)
Source: Annual Financial Reports/Combined Statements of Revenues, Expenditures and Changes in Fund Balances (Non-GAAP Budgetary Basis) - General Fund

Note that negative numbers in the line labeled ìRevenues over (under) Expendituresî and bars below the zero-dollar line on the chart mean that in those years the college spent more money than it took in.  Carryover (Net Working Capital) was used to cover expenditures in those years.

Data Sources for Accompanying Spreadsheet

·  Actual Revenues, Expenditures and Operating Transfers are from the Annual Financial Reports/Combined Statements of Revenues, Expenditures and Changes in Fund Balances (Non-GAAP Budgetary Basis) ñ General Fund
 

Funds may not be transferred to the General Fund from several sources outside the General Fund, including:
· OPE (Other Personnel Expenses)
· Financial Aid Fund
· Bond Construction Funds and other plant funds legally designated for a specific use
· Trust and Agency Funds (including employee early retirement funds)
· Special Revenue (grants and contracts)
· Endowment Fund

Administrative Overhead at the rate of 2.5% of gross revenue is charged to the Bookstore and Foodservices. This amount is transferred annually to the General Fund.