FY03 Budget Projections Worksheet
11/20/01

1		Actual Prior Year	Budget	Projected
2	RESOURCES	2000-2001	2001-2002	2002-2003
3	Net Working Capital Restricted	5,078,913	5,334,332	3,100,000
4	Net Working Capital Unrestricted	5,084,472	3,270,724	2,100,000
5	TOTAL BEGINNING FUND BALANCE	10,163,385	8,605,056	5,200,000
6
7	State Sources	$      29,964,650	$      31,888,294	$      30,965,627
8	Property Taxes	10,316,442	10,903,938	11,493,118
9	Tuition	12,997,798	13,982,307	14,607,701
10	Other Sources	9,012,113	9,598,405	9,002,588
11	Total Resources minus Beginning Fund Balance	$      62,291,003	$      66,372,944	$      66,069,034
12
13	TOTAL RESOURCES	$      72,454,388	$      74,978,000	$      71,269,034
14	EXPENDITURES
15	Department Expense Functions	$      59,768,060	$      62,286,563	$      63,829,063
16	Contingency: Salary Provision		2,201,247	2,179,349
17	Other Contingency		5,125,800	5,425,800
18	Program Adjustments		-	700,000
19	Capital Outlay		300,000	300,000
20	Hold for Allocation		350,000	-
21	Transfers Out	2,926,114	2,614,390	2,614,400
22	Unappropriated Ending Fund Balance (3%)	-	2,100,000	2,300,000
23	TOTAL EXPENDITURES	$      62,694,174	$      74,978,000	$      77,348,613
24
25	RESOURCES (minus) EXPENDITURES	$        9,760,214	$                   -	$       (6,079,579)
26
27	Adjustments to Resources
28	State Funding Formula Adjustment		(73,414)	-
29	Property Tax Adjustment (state projections)		115,181
30	Tuition Adjustment (updated enrollment)		(17,115)
31	Net Working Capital Restricted above (under) budget		158,390
32	Net Working Capital Unrestricted above (under) budget		996,768
33	2% State Revenue reduction		(635,878)	$          (618,493)
34	Total Resources Adjustments	$                   -	$           543,932	$          (618,493)
35
36	Adjustments to Expenditures
37	Offsetting expenditure for NWC Restricted above budget		158,390
38	Additional non-recurring compensation changes		697,499
39	Additional recurring compensation changes		1,057,741
40	Program Adjustments Non-Recurring Prior Year		-	341,526
41	Reductions Non-Recurring Prior Year	-	-	(268,640)
42	Total Expenditures Adjustments	$                   -	$        1,913,630	$            72,886
43
44	Resources minus Expenditures after Adjustments	$        9,760,214	$       (1,369,698)	$       (6,770,958)
45
46	Net Working Capital Restricted	5,492,722	350,000	-
47	Net Working Capital Unrestricted	4,267,492	(1,719,698)	(6,770,958)
	Note: Ending Fund Balance for 2001-02 (Line 44) includes $996,768 in NWC Unrestricted that can only be expended
	after adopting a Supplemental Budget for FY02.
	Without a Supplemental Budget the deficit to make up would be $2,366,466 (Line 44 minus Line 32).
	NWC Unrestricted FY00 not budgeted	$                   -
	Projected NWC  Unrestricted FY01	-
	Emergency Board FY01	359,285
	REVENUE ASSUMPTIONS:
	Net Working Capital Unrestricted will be $1,181,004 more than budgeted (figure is pre-Audit)
	State revenues are $237,826 more than budgeted according to April 2000 OCCWD (State)
	Current year taxes are projected at $129,299 more than budgeted according to April 2000 OCCWD
	Prior year taxes for FY00 were less than budgeted this year; FY01 projections have been reduced ($195,000)
	Tuition estimate has been increasead to 12885, increasing tuition revenue projection by $809,331
	EXPENDITURE ASSUMPTIONS:
	Departments base budgets and Contingencies will remain the same (positions will be updated in January)
	Salaries are currently estimated at 2.7% increase on the base; will be adjusted later based on CPI
	Nonrecurring program adjustments in FY01 will be pulled out ($344,609)
	The Unappropriated Ending Fund Balance will remain at approximately 3%
		$           359,285
	Less plant fund: admin info system	(1,000,000)
	Less plant fund: bond furnishings	(430,000)
	Less SIP: enrollment growth e-board	(625,285)