Data for campus inservices (1.18.11)

298 views
280 views

Published on

Published in: Education
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
298
On SlideShare
0
From Embeds
0
Number of Embeds
92
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Data for campus inservices (1.18.11)

  1. 1. 1
  2. 2.  Permanent Core State Cuts (5% in FY’11; 17% proj. for FY’12) Heath Insurance Increases (100% in past 8 years) Early Retirement Costs (92% in past 8 years) Other Post-Employment Benefits (OPEB) (141% in past 8 years) ◦ Health, Dental, Vision & Life Insurance for Retiree’s Compensation Package 2
  3. 3. Personal CollegeAssets Assets Checking and Savings Cash and Investments $ 88,791,000 House, Cars & Property Capital Assets 148,645,000 I.O.U. (Loan to Family/Friend) Receivables (Student, Clients and Grants) 7,444,000 Total Assets 244,880,000Liabilities Liabilities Amounts due (Car pymt and Credit cards) Commitments (payroll/vendors) 25,158,000 House Mortgage Bonds Payable 96,407,000 121,565,000Net Worth Net Assets Equity in home Invested in Capital Assets 59,705,000 Escrow Restricted for Debt 9,579,000 Spendable Checking and Savings Unrestricted 54,031,000 123,315,000 Total Liabilities & Net Assets $244,880,000 3
  4. 4. Accum Fund Balance * Operating Funds Plant Fund (Spendable Savings) Beg Bal $54,031,000 2011 ($ 1,289,000) ($2,422,000) $50,320,000 2012 ($ 5,873,000) ($2,563,000) $41,884,000 2013 ($10,637,000) ($2,312,000) $28,935,000 2014 ($13,686,000) $ 436,000 $15,685,000 2015 ($16,296,000) ($ 862,000) ($ 1,473,000) 2016 ($18,738,000) ($ 864,000) ($21,075,000)* - Excludes the investment in capital assets.( ) = Loss 4
  5. 5.  Annexation Auxiliary Class Size Enrollment Management – class schedule Grants Institute for Workforce Innovation Leasing MCC Priority Teams Tuition Increase 5
  6. 6.  Health Insurance Adjustment (Officer, Administrator, Faculty, Staff & Retiree) Early Retirement Adjustment (Officer, Administrator, Faculty & Staff) Premium Pay Elimination (Retiree) Essential Hiring (Officer, Administrator, Faculty & Staff) “Doing More with Less” (Officer, Administrator, Staff) Lock Down Spending (Officer, Administrator, Faculty & Staff) Process Improvement (Office, Administrator, Faculty & Staff) Compensation Package Negotiations (Officer, Administrator, Faculty & Staff) Allocation Model (Officer, Administrator, Faculty & Staff) 6
  7. 7.  Current allocation formula works well when there are sufficient resources to fund it, but because of recent revenue issues, the formula allocates more resources than MCC can currently afford. As a result, this allocation formula must be adjusted to bring it back in line with our actual revenue. This will require adjustments to bring expenditures and revenues back into equilibrium. 7
  8. 8.  Officers Budget Response Team (BRT) Board Presentation Campus Meetings Compensation Negotiations 8
  9. 9.  January Budget allocation model review begins February Health insurance RFP to CBIZ March Health insurance bid out to insurance carriers Compensation package negotiations begin Tuition increase and general fee brought to Board June Health insurance recommendation to the Board October Annual open enrollment Compensation package negotiations finalized November Budget allocation model finalized Financial plan presented to Board January ’12 New health insurance enacted July ’12 New compensation contract enacted 9
  10. 10. Thank you! 10

×