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    Condensed fs2013 october Condensed fs2013 october Document Transcript

    • Summary Operating Statements For the Period September 1, 2013 ‐ October 31, 2013 For the Meeting of the Board of Trustees ‐ November 21, 2013 for Houston Community College System & Houston Community College Public Facility Corporation
    • Managements Discussion and Analysis Thru October 31, 2013 Total revenues and expenditures by expense type for the Operating Fund for 2013‐2014 are reported on page one, behind  the tab Detailed Financial Statements. Highlights of financial activities year‐to‐date are as follows: Revenues  State Appropriations received year to date totaled $16,595,742, 7.1% below last year.   The reduction is namely due  to one‐time funding issued to community colleges for the previous biennium.  Under Article IX, the state provided  this supplemental funding in the prior biennium of $1.4M per year.  The state adopted a new funding formula during  the 83rd Legislative Session; 10% of appropriations will be based on student success points and must be earned.   However, for the first biennium, the state waived the use of the formula and will grant each community college full  funding.  Total biennium funding was reduced by 1.5% compared to the previous biennium.  Total appropriations  received are expected to be $69,148,935.  Ad Valorem Tax collections totaled $13,726 year‐to‐date.  The tax rate for FY 2014 will remain the same as the prior  year tax rate at $0.097173. However, the proportion of tax revenue applied to operations will decrease this year due  to the increase in tax revenue applied to debt service.  We project that the total tax revenue for the fiscal year will be  $101,478,107, which is a 5% decrease compared to the previous year.  Tuition and Fees net revenue year to date totaled $43,646,980 which is 0.7% lower than the same time last year.  Fall  2013 enrollment shows a 1.3% decrease to‐date.  We are projecting tuition and fees revenue to be $106,375,859.  Tuition & Fee‐Extended Learning receipts totaled $1,867,496 year to date, 7.6% below last year.  Total tuition and  fees‐Extended Learning at fiscal year end are expected to be $6,565,665. Total revenue collections, net of exemptions and waivers, totaled $62,685,141 year‐to‐date.  Revenue, net of  exemptions & waivers, and transfer‐ins are expected to be $308,050,085 at fiscal year end.  Expenditures   Total Salaries are $29,847,187 year‐to‐date, 4.2% above the previous year, namely due to the 3% annual salary  increases.  Total salaries at year end are expected to be $170,341,988.  Benefits costs totaled $3,771,344 year‐to‐date, 22.4% above last year.  This increase is due namely to  the reduction  in the state's contribution to TRS and ORP and an increase in health insurance premiums.  Total benefits at fiscal year  end are expected to be $18,152,880.  Other Departmental expenses in the Auxiliary Fund total $1,732,332, year‐to‐date.  Expenses of $1.6M are attributed  to Yaffe/Duetser & Dynamo Soccer for marketing/recruiting related expenses.  Athletic Field Project ‐ In April 2012, the Board approved approximately $4.1M in Auxiliary funds for six athletic  fields.  This amount has been set aside from the Auxiliary Fund Balance. Total operating fund expenditures year‐to‐date total $54,500,628.  We are projecting expenditures to be  $308,050,085 at fiscal year end. i
    • Managements Discussion and Analysis Thru October 31, 2013  Budget Priorities funding allocated for the year are detailed below through October 31, 2013.  Contingency/Budget Priority Funding Expense: Budget Position Management $       2,374,415 1 New Funding Requests Increase in FT Faculty to Meet SACS Requirement QEP Additional Funding Investment in Retention and Completion Faculty Compensation Committee Request Police Staffing ($6.6M over 5 years) Security Upgrades ($4M over 4 years) Designated Fund Balance Transfer Other            5,535,476          1,300,000             125,000          2,500,000             527,000          1,320,000          1,000,000                       ‐               49,500 Total Contingency/Budget Priorities $       14,731,391 1 Items requested during the budget planning process for new funding (i.e. Equipment, personnel, adjunct faculty  funding, etc..) ii
    • Operating Statement ‐ Unaudited Fund Balalnces (Across all Funds) as of October 31, 2013 Funds Unrestricted Restricted Auxiliary 1 Loan &  Endowments  Scholarship Agency           Unexpended Plant    Retire of Debt  Invest in Plant      PFC  Grand Total Fund Balance as of 9/1/2013  $       90,782,747   $    8,722,535   $       9,422,619   $              509,932   $          705,617   $            (59,611)  $              3,178,982   $           9,482,219   $           224,314,173   $     (6,325,820)  $     340,733,392  2 Revenue           62,685,141          6,982,995            3,251,523                              ‐            37,709,888                          10                    1,107,271                2,235,088                                  ‐                     3,652           113,975,569  Expenses Salaries Employee Benefits Supplies & General Exp Travel Marketing Costs Rentals & Leases Insurance/Risk Mgmt Contracted Services Utilities 3 Other Departmental Expenses Instructional and Other Materials  Maintenance and Repair 6 Transfers In/Out Debt Capital Outlay Depreciation Scholarship Distribution Total Expenses Net of Revenue/Expenses Fund Balance Entries Debt Funded Fund Balance as of 10/31/2013           29,847,187             3,771,344             1,116,075                 133,045                 179,464                 403,316             6,479,231             2,418,108                 964,404              119,390                       ‐                       ‐                       ‐                       ‐                       ‐                       ‐                       ‐                       ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        ‐                        36,201                          7,974                                  ‐                                ‐                                ‐                                ‐                                ‐                      100,409                                ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                      15,494                           ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               ‐                               ‐                       ‐                       ‐                       ‐                       ‐                       ‐                       ‐                       ‐                       ‐                       ‐                 313,319               8,452          1,732,332                           ‐ 4 & 5        1,075,860        1,676,897             37,370             20,074               2,604             39,597                     550           531,829                    ‐                         ‐                        ‐                                ‐                           ‐                               ‐                       ‐             2,054,103             2,173,193               5,121                  38,886                           ‐                 236,686             98,472                   2,656                           ‐                       ‐                        ‐                 30,845                        ‐                                ‐                           ‐                        29,098                           ‐                               ‐                               ‐                       ‐                       ‐             2,217,199                 397,757               4,938,856                   17,133             1,509,267                         ‐                          ‐                        ‐                        ‐                        ‐                                ‐                                ‐                   9,505,979                                ‐                               ‐                               ‐                               ‐                     3,178,393                       ‐               615,397                       ‐                       ‐                             0             4,301,151           11,093,811             3,178,393           54,500,628        3,496,824          3,750,174                           ‐         (1,270,235)                       ‐                       ‐                       ‐        38,788,387        37,668,387                        ‐                   9,679,660                      15,494                     3,178,393               615,397           74,116,570             8,184,513        3,486,171            (498,650)                           ‐                 41,502                         10                  (8,572,390)              2,219,594                  (3,178,393)            (611,745)             1,070,611                    ‐                      ‐                      ‐                      ‐            1,335,532               250,313               117,124                  14,627                  21,333                  10,350                       ‐               114,822                  33,633                       ‐                       ‐                  78,565                       ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           ‐              (7,328)             (3,668,621)              3,668,621                           ‐                           ‐                   7,249,921                     1,532,808           32,414,170             5,706,528             1,270,570                 167,745                   203,401                   453,263               6,479,781             3,180,662                 998,037               8,775,401                          ‐ $         98,967,260 $    12,201,377 $       8,923,968 $              509,932 $            747,118 $            (59,601) $               1,856,514 $         11,701,814 $           222,668,588 $       (6,937,566) $      350,579,405 1  Inculdes Foundation expenses of approx. $1.5M (since inception) supplemental funding approved by the Board. 2  Revenue in Unrestricted Fund is shown net of Exemptions/Waivers, namely $2.6M for Dept. of Corrections & Dual Credit waivers. 3  Institution‐wide is inclusive of colleges and/or system administration expenditure (ie. Accredition fees, Graduation Expense, Elections Expense). 4  Expenses of $2,173,193 in the Unrestricted Fund includes, not limited to, classroom materials such as workbooks, textbooks, music supplies, physical education supplies, art materials    and the maintenance of theses instructional materials/equipment.  5  Expenditures of $32,896 in the Auxiliary category is attributed to NEO Café. 6  Items in this category include all student revenue bond payments, transfers for scholarship matching funds,    and transfers to the Unexpended Plant Fund. *HCC has adopted and adheres to GASB 34(1999) , GASB 54(2010) and OMB 134(1993).  The college has received unqualified audit opinions since the adoption of each. 1
    • HOUSTON COMMUNITY COLLEGE 2013‐2014 Budget vs. Actuals as of October 31, 2013   HCCS CURRENT UNRESTRICTED FY 2013‐2014 FY2013 Actuals Adjusted Budget Year‐to‐Date  Actuals $      70,014,003       106,097,476         40,063,500         63,996,717           2,184,999           6,400,587 $         69,148,935         101,478,107           41,453,277              64,922,582                2,543,140                6,565,665 $      16,595,742               13,726        16,796,466         26,850,513                444,704           1,867,496 24.0% 0.0% 40.5% 41.4% 17.5% 28.4% $       (52,553,193)        (101,464,381)          (24,656,811)          (38,072,069)            (2,098,436)            (4,698,169)                517,655                 434,410             116,495                                          ‐ 14,731,391                             ‐ Assigned Fund Balance Transfers In FY2013 Purchase Order Rolls                                            ‐ 6,772,578                             ‐ Total Revenues $     289,274,937 $       308,050,085 $      62,685,141 26.8% 0.0% 0.0% 20.3%               (317,915)          (14,731,391)            (6,772,578) $    (245,364,944) 17.5% 20.8% 18.5% 12.7% 10.9% 10.7% 91.9% 9.5% 8.5% 15.4% 16.9% 13.7% 15.6% 0.0% 20.2% 17.7%        (140,494,801)          (14,381,536)            (4,909,635)               (917,415)            (1,472,108)            (3,374,214)               (573,435)          (22,997,885)          (10,357,927)            (1,726,751)          (10,668,023)            (1,485,067)          (26,730,363)            (7,509,965)            (5,950,331) $    (253,549,457) REVENUES State Appropriations Ad Valorem Taxes Tuition, Net Fees1 Other Local Income2 Tuition & Fee, Net  ‐‐ Extended Learning Grant Revenue Actuals  as a  Actuals vs. Adjusted  % of Budget Budget 3 EXPENSES Salaries Employee Benefits Supplies Gen Exp Travel Marketing Costs Rental & Leases Insurance/Risk Mgmt       158,833,961         170,341,988         18,704,344           18,152,880           5,216,679             6,025,710                883,137             1,050,460           1,350,751             1,651,572           2,234,487             3,777,530           6,521,682             7,052,666 4 Contract Services         21,328,764           25,415,993 Utilities           8,414,469           11,322,331 Other Departmental Expenses5           1,799,321             2,040,071 Instructional & Other Materials           6,263,298           12,841,216 Maintenance & Repair           1,082,934             1,721,753 Transfers/Debt         33,095,470           31,686,352 Contingency                           ‐             7,509,965 Capital Outlay           4,451,702             7,459,598      Total Expenses  $     270,180,997 $       308,050,085 REVENUES H/(L) Vs EXPENSES $       19,093,940        29,847,187          3,771,344          1,116,075             133,045             179,464             403,316          6,479,231           2,418,108             964,404                313,319          2,173,193             236,686          4,955,989                          ‐          1,509,267 $      54,500,628 $        8,184,513 1  Fees charged to student include: Out‐of‐District fees, Technology fees, lab fees, etc. 2  Includes interest & dividends income, fines & penalties and parking fines 3  Planned Fund Balance transfer and additional budget commitments related to Student Services & Instruction     as approved by the Board during the budget process. 4  Contracted Services includes consulting, auditing and maintenance & ground services. 5  Institution‐wide is inclusive of colleges and/or system administration expenditure (ie. Accredition fees,     Graduation Expense, Elections Expense). 2
    • HOUSTON COMMUNITY COLLEGE SYSTEM Auxiliary Budget By Fund as of October 31, 2013 Auxiliary Funds1 3101‐3100         Main Leasing 3111   International  3110 4 Auxiliary2 Assigned Fund Balance at  August 31, 2013 $    18,913,317 $      7,766,831 3 Foundation Student Services 3207   3201              International  Cafe Club NEO  3100 Main Initiatives5 3208             Saudi Consulting  3209             Qatar 6 Services Subtotal Marketing $         (1,458,032) $           (16,164,079) $     (1,158,351) $     (1,435,926) $          (43,204) $        203,712 $     1,040,292 $      7,664,560                                 ‐           1,280,404            2,386,867 FY2013  Revenue                   924,174                 64,814                                    ‐                                                94,143 ‐                  23,333                           ‐                   50,692                110,729                        17,305                   56,993                   45,518            1,021,348             1,302,586  Benefits                    13,462                 28,387                          3,450                   13,716                   11,374               173,601                  243,989  Supplies Gen Exp                      1,520                 14,685                          7,613                     2,605                          25                        512                   26,960  Travel                    1,098                             661                        378                 11,470                   13,607  Marketing Costs                  21,333  Rental & Leases  3  Salaries                         445                   9,525  Contract Services                    17,700                 32,356                        51,519  Utilities                    32,383  Departmental Expenses   Instructional & Other  Materials   Maintenance & Repair                    21,333                        380                   10,350                  101,575                     1,250                   33,633                 83,935                             649                     1,608,631                     2,917             1,696,132                          5,231                   32,896                   38,127                     1,568                      198                             159                     1,490                     3,415  Insurance/Risk Mgmt                                ‐  Exemptions and Waivers                                ‐  Transfer                                ‐                 78,565  Capital Outlay   Total Expense                 117,770 Contribution to Fund Balance             806,404 7 Athletic Fields Project Net Assigned Fund Balance               380,812                   78,565                         86,588                    73,626                    95,512                        403           (315,998)                  (86,588)               (1,608,631)               (73,626)                (1,369)               22,930                            ‐           1,206,932             3,570,273                        ‐               73,472        (1,183,406)          (4,095,000) $    19,719,721 $      3,355,833 $         (1,544,620) $           (17,772,710) $     (1,231,977) $     (1,437,296) $          (20,273) $        203,712 1 Restricted by limitations; must comply with laws, statues and regulations. 2 Common Area ‐ Revenue in this category include bookstore commission, facility rental income and child day care revenue. 3 Approx. $1.5M (since inception) supplemental funding, approved by the Board. Return on Investment (ROI) is approximately 3:1. 4   Activity in this fund is related to International Student Support. 5  Revenue is associated with Saigon Tech 6  Fund Balance  is comprised of Settlements from NCAAA Contract & Education Experts Co. 7  In April 2012 the Board approved approx. $4.1M in auxiliary funds for six  athletic fields. $     1,113,764 $      2,386,154
    • HOUSTON COMMUNITY COLLEGE SYSTEM Auxiliary Budget By Fund as of October 31, 2013 Student Auxiliary Funds ‐ Committed1 3111                3112                  3110             Student Activity Fee Student  Athletic Fee Student  Vending  Commission Committed Fund Balance at 8/31/13 Subtotal Grand Total $      1,758,059 $      9,422,618                 49,353                       466,784                        348,519                  864,656          3,251,523 $        234,880 $              841,755 $                681,424 FY2013  Revenue   Salaries                           5,590                            27,356                   32,946  Benefits                                  73                             6,251                     6,324          1,335,532             250,313  Supplies Gen Exp                    9,389                        77,421                             3,354                   90,164             117,124  Travel                       340                             680                     1,020  Marketing Costs                                ‐               14,627               21,333  Rental & Leases                                ‐               10,350                        12,247                             1,000                   13,247             114,822                               ‐                   5,000                          1,200                            30,000                   36,200               33,633          1,732,332                               ‐               38,127  Maintenance &  Repair   Insurance ‐ Risk  Mgmt   Exemptions and  Waivers   Transfer                                ‐                 3,415                               ‐                          ‐                               ‐                          ‐                               ‐  Capital Outlay                                ‐                          ‐               78,565 4  Contract Services   Utilities   Departmental  Expenses   Instructional &  Other Materials   Total Expense                   14,729                         97,211                          67,961                179,901             3,750,174 Contribution to Fund Balance             34,624                 369,573                     280,558             684,755           (498,650) Net Committed Fund Balance $        269,504 $           1,211,328 $                961,982 $      2,442,814 $      4,828,968 1 Funds are committed for services related to students
    • Houston Community College Balance Sheet By Fund For Month Ended October 31, 2013 CURRENT &  1 LOAN FUNDS PLANT & BOND  2 FUNDS  Total All Funds  ASSETS Current Assets: Cash &  cash equivalents Restricted cash & cash equivalents Short term Investments Accounts/Other receivable (net) Deferred charges Prepaids Total Current Assets $     83,316,719       12,032,536                         ‐       16,305,142         1,004,669            109,030     112,768,095 $         11,835,418         472,610,699                              ‐             1,224,936                              ‐                 881,112         486,552,165 $         95,152,137          484,643,235                               ‐            17,530,078                1,004,669                  990,142          599,320,260 Non‐current Assets: Deferred charges, net Restricted long‐term investments Long‐term investments Capital Assets, net Total Non‐current Assets                         ‐                         ‐       18,706,657                         ‐       18,706,657                              ‐           34,641,675                              ‐         785,606,343         820,248,019                               ‐            34,641,675            18,706,657          785,606,343          838,954,676 Total Assets $  131,474,752 $   1,306,800,184 $     1,438,274,936 LIABILITIES Current Liabilities: Accounts payable Accrued liabilities Compensated absences Funds held for others Deferred revenue Notes payable‐current portion Bonds payable‐current portion Capital lease obligations‐current Total Current Liabilities         5,668,315                          ‐         2,261,499            632,783         1,622,105                         ‐                         ‐                         ‐       10,184,701                 554,139                1,450,264                              ‐                 189,209                   99,215             2,695,000           23,335,000                              ‐           28,322,827                6,222,454                1,450,264                2,261,499                  821,992                1,721,320                2,695,000            23,335,000                               ‐            38,507,528 Non‐current Liabilities: Deposits Notes payable Bonds payable Capital lease obligations Total Non‐current Liabilities                         ‐                         ‐                         ‐                         ‐                         ‐                              ‐         170,117,037         765,902,678         106,230,726      1,042,250,441                               ‐          170,117,037          765,902,678          106,230,726       1,042,250,441 Total Liabilities $     10,184,701 $   1,070,573,268 $     1,080,757,967      110,083,838          236,975,374          347,059,212               (748,459)                7,685,862                3,520,354 (748,459)                       Fund Balance‐  August 31, 2013 Unaudited  Revenues Over Expenditures      Unrestricted      Restricted      Net Investment in Plant         7,685,862         3,520,354 Total Fund Balances, Unaudited $  121,290,054 $       236,226,916 $       357,516,969  Total Liabilities &  Fund Balances  $  131,474,755 $   1,306,800,184 $     1,438,274,936 1 2  I ncludes Unrestricted, Restricted, Loan & Endowment, Scholarship, Agency and Auxiliary Funds.  Includes Unexpended Plant, Retirement of Debt and Investment in Plant Funds. 5
    • HOUSTON COMMUNITY COLLEGE FY 2013‐14 Adjusted Budget by Colleges as of October 31, 2013  TM   CENTRAL   NORTH WEST   NORTH EAST   SOUTH WEST   SOUTH EAST   COLEMAN   EXTENDED  LEARNING   SYSTEM   Grand Total  Salaries $    23,763,043 $    24,297,945 $    18,858,510 $    26,508,507 $    15,135,343 $    10,455,696 $    10,566,619 $        40,756,325 $       170,341,988 Employee Benefits                      ‐ Supplies & Gen             236,248             339,225             186,373             258,610             257,862             325,735             227,496             3,971,631             5,803,180 Travel 501,455             1,050,460             109,215               98,957               34,031               68,783               51,539               97,092               89,388                  Marketing Costs               51,979               46,485               85,322               29,306               71,154               40,823             378,606                  938,037             1,641,712 Rentals & Leases                   6,810             140,016          1,010,359             514,787               41,484             482,744               26,530             1,538,347             3,761,077 Insurance/Risk Mgmt                     794                     168 Contracted Services             319,192             315,291               54,815               57,122             147,480             384,845             347,232           22,444,785           24,070,762 Utilities                   5,025 Other Departmental Expenses               86,925               44,665               49,917               42,869             129,924             117,080               49,771             1,493,919             2,015,070 Instructional and Other Materials             483,612             291,060             145,277             279,460               51,456             365,910          1,112,395             8,322,275           11,051,445 Maintenance and Repair             138,195               48,839               41,883               91,869               35,172               87,207             168,950                  747,436             1,359,551 Transfers/Debt                      ‐                      ‐                      ‐                     154                      ‐           18,152,880           18,152,880                      ‐                   4,600                     362             845,806          5,637,942          1,200,000                      ‐             7,051,550             7,052,666           11,289,717           11,299,704                      ‐           24,002,604           31,686,352 Contingency/Budget Priority Funding               14,671               28,943               49,640               50,000               49,662               42,341                      ‐             7,274,708             7,509,965 Capital Outlay             471,247             716,811               79,377             279,431               57,629               55,205             153,995             2,667,000             4,480,695 FY2013 Purchase Order Rolls Grand Total                      ‐             6,772,578             6,772,578 $ 25,686,956 $ 27,214,211 $ 26,238,046 $ 29,381,260 $ 16,028,705 $ 12,454,678 $ 13,120,982 $  157,925,247 $  308,050,085 6