The document provides financial information for Houston Community College System for the period of September 1, 2013 through May 31, 2014. It includes a discussion of revenues and expenditures, highlighting that total revenues are projected to be $293 million, which is 2.3% above budget, while expenditures are projected to be $303 million. Salaries are projected to be $170 million, which is 4% above the previous year. Contracted services are projected to be $27 million, which is 10.4% above the previous year.
This document provides an unaudited summary of operating statements for Houston Community College System and Public Facility Corporation for the period of September 1, 2013 through August 31, 2014. Total revenues were $293.8 million, 1.6% above the previous year. State appropriations were lower than last year but ad valorem tax collections were higher than budgeted. Total expenses were $281.7 million, 4.3% above last year primarily due to increases in salaries, contracted services, instructional materials and capital outlay. The overall fund balance increased from $339.1 million to $359.8 million.
This document provides a summary of financial information for Houston Community College System (HCCS) for the period of September 1-30, 2014. It includes fund balances, revenues, expenses, budgets, and auxiliary fund information. The key details are:
- The total fund balance for HCCS as of September 30, 2014 was $384,068,312, an increase of $33,541,591 from the beginning of the period.
- Total revenues for the period were $54,698,530, while total expenses were $26,131,153, resulting in net revenue of $28,567,377.
- The auxiliary funds saw total revenues of $1,758,504 and total
This document provides a summary of Houston Community College's operating statements and fund balances for the period of September 1, 2013 through July 31, 2014. It discusses revenues, expenditures, budget priorities funding, and projected fiscal year end balances. Total revenues are projected to be slightly above budget while expenditures are projected to be within budget. Key revenue sources like state appropriations and property taxes are below budget projections but tuition/fees are higher than anticipated. Expenditures are higher than the prior year mainly due to salary increases, higher benefits costs, and increased spending on contracted services and instructional materials. The overall fund balance is projected to increase from the prior fiscal year.
This document provides a summary of financial statements for Houston Community College System for the period of September 1, 2014 through November 30, 2014. As of November 30, 2014, the unrestricted fund had total revenue of $87.9 million (29.4% of annual budget) and total expenses of $72.8 million (23.7% of annual budget), resulting in a net revenue of $15 million and a $15 million increase in the fund balance. Tuition and fee revenue from extended learning increased 41.7% due to increased enrollment and differential fees for international students. Salaries increased 5% due to a 2% salary increase for full-time employees and higher part-time faculty pay rates. Expenses
This document provides a summary of financial statements for Houston Community College System for the period of September 1, 2014 to October 31, 2014. It shows that total revenue received in the unrestricted fund is $64 million (21% of annual budget) and total expenses are $50.6 million (16.5% of annual budget), resulting in a net revenue of $13.4 million. Tuition and fee revenue for extended learning increased 52.9% due to enrollment increases and differential fees. Salaries increased 5% due to raises while other expenses decreased due to changes in purchase order policies.
This document provides financial summaries for Houston Community College System for the period of September 1, 2014 to December 31, 2014. It shows that as of December 30, 2014, the System had received $134.1 million in total unrestricted revenue which represents 45% of its budgeted annual revenue. Expenses totaled $93.7 million or 31% of the budgeted amount. The net revenue was $40.4 million, increasing the unrestricted fund balance by that amount. Tuition revenue was up 5% and enrollment for the upcoming spring semester was up 27% and 19% respectively. Salaries increased 5% due to raises while other expenses decreased due to changes in purchasing policies.
The document provides a summary of operating statements for Houston Community College System and Houston Community College Public Facility Corporation for the period of September 1, 2013 to April 30, 2014. Some key highlights include:
- Total revenues were $254,998,462 year-to-date, with state appropriations totaling $42,925,768 and ad valorem tax collections totaling $110,021,187.
- Total expenditures year-to-date were $195,937,242, with salaries totaling $113,211,188 and contracted services totaling $14,702,425.
- Budget priorities funding allocated through April 30, 2014 included $2,374,415 for position management and $
This document provides a summary of operating statements for Houston Community College System and Houston Community College Public Facility Corporation for the period of September 1, 2013 through March 31, 2014. It includes a discussion of revenues and expenditures by type, highlighting that state appropriations were lower than the previous year while property tax collections exceeded budget projections. Total revenues are projected to be slightly above budget while expenditures are expected to exceed budget due to increases in salaries, benefits, and contracted services. The document also provides details on transfers between funds and budget priorities funding allocated through March 31, 2014.
This document provides an unaudited summary of operating statements for Houston Community College System and Public Facility Corporation for the period of September 1, 2013 through August 31, 2014. Total revenues were $293.8 million, 1.6% above the previous year. State appropriations were lower than last year but ad valorem tax collections were higher than budgeted. Total expenses were $281.7 million, 4.3% above last year primarily due to increases in salaries, contracted services, instructional materials and capital outlay. The overall fund balance increased from $339.1 million to $359.8 million.
This document provides a summary of financial information for Houston Community College System (HCCS) for the period of September 1-30, 2014. It includes fund balances, revenues, expenses, budgets, and auxiliary fund information. The key details are:
- The total fund balance for HCCS as of September 30, 2014 was $384,068,312, an increase of $33,541,591 from the beginning of the period.
- Total revenues for the period were $54,698,530, while total expenses were $26,131,153, resulting in net revenue of $28,567,377.
- The auxiliary funds saw total revenues of $1,758,504 and total
This document provides a summary of Houston Community College's operating statements and fund balances for the period of September 1, 2013 through July 31, 2014. It discusses revenues, expenditures, budget priorities funding, and projected fiscal year end balances. Total revenues are projected to be slightly above budget while expenditures are projected to be within budget. Key revenue sources like state appropriations and property taxes are below budget projections but tuition/fees are higher than anticipated. Expenditures are higher than the prior year mainly due to salary increases, higher benefits costs, and increased spending on contracted services and instructional materials. The overall fund balance is projected to increase from the prior fiscal year.
This document provides a summary of financial statements for Houston Community College System for the period of September 1, 2014 through November 30, 2014. As of November 30, 2014, the unrestricted fund had total revenue of $87.9 million (29.4% of annual budget) and total expenses of $72.8 million (23.7% of annual budget), resulting in a net revenue of $15 million and a $15 million increase in the fund balance. Tuition and fee revenue from extended learning increased 41.7% due to increased enrollment and differential fees for international students. Salaries increased 5% due to a 2% salary increase for full-time employees and higher part-time faculty pay rates. Expenses
This document provides a summary of financial statements for Houston Community College System for the period of September 1, 2014 to October 31, 2014. It shows that total revenue received in the unrestricted fund is $64 million (21% of annual budget) and total expenses are $50.6 million (16.5% of annual budget), resulting in a net revenue of $13.4 million. Tuition and fee revenue for extended learning increased 52.9% due to enrollment increases and differential fees. Salaries increased 5% due to raises while other expenses decreased due to changes in purchase order policies.
This document provides financial summaries for Houston Community College System for the period of September 1, 2014 to December 31, 2014. It shows that as of December 30, 2014, the System had received $134.1 million in total unrestricted revenue which represents 45% of its budgeted annual revenue. Expenses totaled $93.7 million or 31% of the budgeted amount. The net revenue was $40.4 million, increasing the unrestricted fund balance by that amount. Tuition revenue was up 5% and enrollment for the upcoming spring semester was up 27% and 19% respectively. Salaries increased 5% due to raises while other expenses decreased due to changes in purchasing policies.
The document provides a summary of operating statements for Houston Community College System and Houston Community College Public Facility Corporation for the period of September 1, 2013 to April 30, 2014. Some key highlights include:
- Total revenues were $254,998,462 year-to-date, with state appropriations totaling $42,925,768 and ad valorem tax collections totaling $110,021,187.
- Total expenditures year-to-date were $195,937,242, with salaries totaling $113,211,188 and contracted services totaling $14,702,425.
- Budget priorities funding allocated through April 30, 2014 included $2,374,415 for position management and $
This document provides a summary of operating statements for Houston Community College System and Houston Community College Public Facility Corporation for the period of September 1, 2013 through March 31, 2014. It includes a discussion of revenues and expenditures by type, highlighting that state appropriations were lower than the previous year while property tax collections exceeded budget projections. Total revenues are projected to be slightly above budget while expenditures are expected to exceed budget due to increases in salaries, benefits, and contracted services. The document also provides details on transfers between funds and budget priorities funding allocated through March 31, 2014.
For the period of September 1, 2013 through January 31, 2014:
- Total revenues were $177 million, with state appropriations of $29.8 million (3.6% below last year) and property tax collections of $57.2 million. Expenditures totaled $114.6 million.
- Salaries were $69.8 million year-to-date, a 3.8% increase over last year. Contracted services increased 17.4% to $8.8 million due to increases in facilities maintenance.
- The board allocated $14.7 million for budget priorities including faculty positions, student retention programs, and security upgrades.
The document provides a summary of operating statements for Houston Community College System for the period of September 1, 2013 through June 30, 2014. Total revenues were $278 million year-to-date, with state appropriations of $56 million and ad valorem taxes of $111 million making up the largest sources of funding. Total expenses were $237 million year-to-date, with the largest expenses being salaries of $139 million and benefits of $15 million. The budget priorities for the year included $14.7 million for items like new faculty positions and security upgrades.
This document provides a summary of financial statements for Houston Community College System for the period of September 1, 2014 to March 31, 2015. It shows that as of March 31, 2015, total revenue received was $254.9 million, representing 85.4% of the annual budgeted revenue. Total expenses were $154.7 million, representing 50.4% of the annual budgeted expenses. The net revenue for the period was $100.3 million, increasing the fund balance by that amount. Tuition and fee revenue increased 3% year-to-date compared to the prior year. Salaries increased 4.6% due to salary increases for employees. Certain expense categories decreased due to greater oversight of expenditures.
This document provides a summary of financial statements for Houston Community College System for the period of September 1, 2014 through May 31, 2015. As of May 31, 2015, the system had received total unrestricted revenue of $285.5 million, which represents 95.7% of its budgeted annual revenue of $298.7 million. Total expenses so far are $217.8 million, which is 71% of the budgeted expenses of $306.7 million. Tuition and fee revenue increased by 1.6% year-to-date due to enrollment increases. Salaries increased by 4.3% due to cost of living increases. Expenses related to supplies and materials decreased due to greater oversight of expenditures.
This document provides a summary of financial statements for Houston Community College System and Houston Community College Public Facility Corporation for the period of September 1, 2015 to March 31, 2016.
The unrestricted fund had total revenue of $266.3 million (82% of budget) and total expenses of $170.1 million (52.4% of budget), resulting in a net revenue of $96.1 million and a corresponding increase in fund balance. Salaries increased 6% due to a compensation study and 2% salary increase. Expenses in transfers and debt increased $8.1 million due to bond redemption. Revenue and expenses are expected to be within budget by year end.
This document provides financial statements and summaries for Houston Community College System for the period of September 1, 2014 to February 28, 2015. As of February 28, 2015, the unrestricted fund had total revenue of $244.7 million (81.9% of budget) and total expenses of $132.7 million (43.3% of budget), resulting in a net revenue of $112 million and a $112 million increase in the unrestricted fund balance. Tuition and fee revenue increased 5% year-to-date compared to the prior year, while salaries increased 4% and certain expense categories decreased.
This document provides financial statements and summaries for Houston Community College System for the period of September 1, 2014 through July 31, 2015. It summarizes that total revenue received is $303.2 million, which is 101.5% of the budgeted amount, while total expenses are $261.7 million, which is 85.3% of the budgeted amount. The net revenue is $41.5 million, increasing the fund balance by that amount. Tuition and fee revenue increased by 2.7% year-to-date compared to last year, while salaries increased 4% and certain expenses decreased due to greater oversight of spending.
This document provides a summary of financial statements for Houston Community College System for the period of September 1, 2014 to January 31, 2015. As of January 31, 2015, total revenue received was $193.7 million, which represents 63.2% of the annual budgeted revenue. Total expenses were $112.2 million, which is 36.6% of the annual budgeted expenses. Compared to the same time period last year, revenue increased by 9.4% while expenses decreased by 2.1%. Tuition and fee revenue increased by 5% due to enrollment increases. Salaries increased by 5% due to annual salary increases for employees. Certain expense categories decreased due to greater oversight of expenditures.
This document provides financial summaries for Houston Community College System for the period of September 1, 2015 through December 31, 2015. It shows that as of December 31, 2015, total unrestricted revenue was $124.1 million which was 38.2% of the annual budgeted revenue. Total expenses were $104.6 million or 32.2% of the annual budget. Compared to the same period last year, revenue decreased 7.5% while expenses increased 11.6%. Property tax revenue decreased $11 million due to delays in collections from large mortgage companies. Salaries expenses increased 4.7% due to compensation adjustments and a 2% salary increase for full-time employees. Expenses for transfers and debt increased due to
This 3 paragraph summary provides an overview of the financial statements for Houston Community College System for the period of September 1, 2014 to April 30, 2015:
Total unrestricted revenue is $270.3 million (90.5% of budget) while expenses total $198.2 million (64.6% of budget), resulting in a net revenue of $72.2 million. Tuition and fee revenue increased slightly while salaries increased 4.4% due to raises. Expenses decreased in some categories like supplies and materials due to greater oversight of spending. The balance sheet shows a total fund balance of $489.5 million as of April 30, 2015, up from $373.9 million the previous year.
This document provides a summary of financial statements for Houston Community College System for the period of September 1, 2014 through June 30, 2015. As of June 30, 2015, the unrestricted fund had total revenue of $295.4 million, which represents 99% of the annual budgeted revenue. Expenses totaled $238.7 million, which is 78% of the annual budgeted expenses. Revenue increased 6% compared to the prior year while expenses increased 1%. The document also provides details on fund balances, revenue and expenditures by division, balance sheets by fund, and exemptions/waivers.
The document provides financial statements and summaries for Houston Community College System for the period of September 1, 2015 to October 31, 2015. As of October 31, 2015, total revenue received was $64.2 million, which represents 19.8% of the annual budgeted revenue of $324.6 million. Total expenses were $60 million, or 18.5% of the annual budgeted expenses. Compared to the same period last year, revenue increased by 0.4% while expenses increased by 18.5%. The fund balance increased by $4.2 million. Salaries increased 6.3% mainly due to compensation adjustments and a 2% salary increase for full-time employees. Expenses for transfers and debt increased
This document provides a summary of Houston Community College's financial statements for the period of September 1, 2015 through November 30, 2015. It shows that as of November 30, 2015 the college had total revenue of $87.2 million, which represents 26.9% of its annual budgeted revenue of $324.6 million. Expenses for the period totaled $82.6 million, or 25.4% of the annual budgeted expenses of $324.6 million. The unrestricted fund balance increased by $4.6 million for the period.
This document provides a summary of financial statements for Houston Community College System for the period of September 1, 2014 to August 31, 2015. It shows that as of August 31, 2015, total unrestricted revenue was $310.8 million, which was 104% of the budgeted amount. Total unrestricted expenses were $288.5 million, which was 94.1% of budget. The net revenue was $22.3 million, increasing the unrestricted fund balance by that amount. Tuition and fee revenue increased by 2.4% year-to-date due to enrollment increases. Salaries increased 4.1% due to across the board pay raises. Expenses decreased in some categories due to greater oversight of spending
This document provides financial statements and summaries for Houston Community College System for the period of September 1, 2015 to September 30, 2015. It includes summaries of the fund balances, revenues and expenditures for the unrestricted fund. As of September 30, 2015, the total revenue received was $54.8 million (16.9% of the annual budgeted revenue) while total expenses were $26.3 million (8.1% of the annual budgeted expenses). Revenues saw a 0.2% increase from the prior year while expenses increased 0.8%. Salaries increased 8.1% mainly due to a compensation study and 2% salary increase for full-time employees. Revenue and expenses are expected to be within budget
This document provides financial statements and summaries for Houston Community College System and Public Facility Corporation for September 1, 2015 to February 29, 2016. It shows that as of February 29, 2016, the total revenue received was $253.4 million, which is 78.1% of the annual budgeted revenue. Total expenses were $146.8 million, which is 45.2% of the annual budgeted expenses. Compared to the same time last year, revenue increased by 3.6% and expenses increased by 10.6%. The net revenue as of February 29, 2016 was $106.7 million.
The document provides financial statements for Houston Community College System for the period of September 1, 2015 to January 31, 2016. It summarizes that as of January 31, 2016, the System had total revenues of $198 million (61% of annual budget) and expenses of $123.3 million (38% of annual budget). Compared to the same time last year, revenues increased 2.2% while expenses increased 9.9%. The document also provides details on fund balances, revenues and expenses by category, adjusted budgets by divisions, and balance sheets by fund.
This document provides financial statements and summaries for Houston Community College System for the period of September 1, 2016 to September 30, 2016. It shows that as of September 30, 2016 the system had total revenue of $53.3 million which was 15.8% of its annual budgeted revenue. Expenses totaled $24.2 million or 7.2% of the annual budget. Compared to the same period last year, revenue was down 4.3% while expenses were lower by 8%. The system had a net revenue of $29.1 million for the period.
This document provides a summary of financial statements for Houston Community College System and Houston Community College Public Facility Corporation for the period of September 1, 2015 through June 30, 2016. As of June 30, 2016, total unrestricted revenue was $304.2 million, representing 94% of the annual budgeted revenue. Total expenses were $262.5 million, representing 81% of the annual budgeted expenses. The document also provides details on fund balances, revenues and expenses by division, and balance sheets for each fund.
This document provides a summary of financial statements for Houston Community College System and Houston Community College Public Facility Corporation for the period of September 1, 2016 through November 30, 2016. It includes information on fund balances, revenues, expenses, and budgets. Some key details are:
- Total unrestricted revenue is $86.3 million (25.5% of annual budget) while expenses are $72.3 million (21.4% of annual budget)
- Compared to the same period last year, revenue is down 1% while expenses are down 12.4%
- Salaries increased 5% due to a compensation study and 2% salary increase for full-time employees
- Expenses for transfers and debt decreased
KIND, an NGO focused on empowering disadvantaged children, is holding a fundraising scavenger hunt called Concrete Jungle on December 2nd at Queen's Park Savannah. Teams must solve clues around landmarks to help support KIND's child learning sponsorship program. KIND invites companies and organizations to register teams for prizes, while families can also attend for games and entertainment. Registration forms and payment are due by November 26th.
For the period of September 1, 2013 through January 31, 2014:
- Total revenues were $177 million, with state appropriations of $29.8 million (3.6% below last year) and property tax collections of $57.2 million. Expenditures totaled $114.6 million.
- Salaries were $69.8 million year-to-date, a 3.8% increase over last year. Contracted services increased 17.4% to $8.8 million due to increases in facilities maintenance.
- The board allocated $14.7 million for budget priorities including faculty positions, student retention programs, and security upgrades.
The document provides a summary of operating statements for Houston Community College System for the period of September 1, 2013 through June 30, 2014. Total revenues were $278 million year-to-date, with state appropriations of $56 million and ad valorem taxes of $111 million making up the largest sources of funding. Total expenses were $237 million year-to-date, with the largest expenses being salaries of $139 million and benefits of $15 million. The budget priorities for the year included $14.7 million for items like new faculty positions and security upgrades.
This document provides a summary of financial statements for Houston Community College System for the period of September 1, 2014 to March 31, 2015. It shows that as of March 31, 2015, total revenue received was $254.9 million, representing 85.4% of the annual budgeted revenue. Total expenses were $154.7 million, representing 50.4% of the annual budgeted expenses. The net revenue for the period was $100.3 million, increasing the fund balance by that amount. Tuition and fee revenue increased 3% year-to-date compared to the prior year. Salaries increased 4.6% due to salary increases for employees. Certain expense categories decreased due to greater oversight of expenditures.
This document provides a summary of financial statements for Houston Community College System for the period of September 1, 2014 through May 31, 2015. As of May 31, 2015, the system had received total unrestricted revenue of $285.5 million, which represents 95.7% of its budgeted annual revenue of $298.7 million. Total expenses so far are $217.8 million, which is 71% of the budgeted expenses of $306.7 million. Tuition and fee revenue increased by 1.6% year-to-date due to enrollment increases. Salaries increased by 4.3% due to cost of living increases. Expenses related to supplies and materials decreased due to greater oversight of expenditures.
This document provides a summary of financial statements for Houston Community College System and Houston Community College Public Facility Corporation for the period of September 1, 2015 to March 31, 2016.
The unrestricted fund had total revenue of $266.3 million (82% of budget) and total expenses of $170.1 million (52.4% of budget), resulting in a net revenue of $96.1 million and a corresponding increase in fund balance. Salaries increased 6% due to a compensation study and 2% salary increase. Expenses in transfers and debt increased $8.1 million due to bond redemption. Revenue and expenses are expected to be within budget by year end.
This document provides financial statements and summaries for Houston Community College System for the period of September 1, 2014 to February 28, 2015. As of February 28, 2015, the unrestricted fund had total revenue of $244.7 million (81.9% of budget) and total expenses of $132.7 million (43.3% of budget), resulting in a net revenue of $112 million and a $112 million increase in the unrestricted fund balance. Tuition and fee revenue increased 5% year-to-date compared to the prior year, while salaries increased 4% and certain expense categories decreased.
This document provides financial statements and summaries for Houston Community College System for the period of September 1, 2014 through July 31, 2015. It summarizes that total revenue received is $303.2 million, which is 101.5% of the budgeted amount, while total expenses are $261.7 million, which is 85.3% of the budgeted amount. The net revenue is $41.5 million, increasing the fund balance by that amount. Tuition and fee revenue increased by 2.7% year-to-date compared to last year, while salaries increased 4% and certain expenses decreased due to greater oversight of spending.
This document provides a summary of financial statements for Houston Community College System for the period of September 1, 2014 to January 31, 2015. As of January 31, 2015, total revenue received was $193.7 million, which represents 63.2% of the annual budgeted revenue. Total expenses were $112.2 million, which is 36.6% of the annual budgeted expenses. Compared to the same time period last year, revenue increased by 9.4% while expenses decreased by 2.1%. Tuition and fee revenue increased by 5% due to enrollment increases. Salaries increased by 5% due to annual salary increases for employees. Certain expense categories decreased due to greater oversight of expenditures.
This document provides financial summaries for Houston Community College System for the period of September 1, 2015 through December 31, 2015. It shows that as of December 31, 2015, total unrestricted revenue was $124.1 million which was 38.2% of the annual budgeted revenue. Total expenses were $104.6 million or 32.2% of the annual budget. Compared to the same period last year, revenue decreased 7.5% while expenses increased 11.6%. Property tax revenue decreased $11 million due to delays in collections from large mortgage companies. Salaries expenses increased 4.7% due to compensation adjustments and a 2% salary increase for full-time employees. Expenses for transfers and debt increased due to
This 3 paragraph summary provides an overview of the financial statements for Houston Community College System for the period of September 1, 2014 to April 30, 2015:
Total unrestricted revenue is $270.3 million (90.5% of budget) while expenses total $198.2 million (64.6% of budget), resulting in a net revenue of $72.2 million. Tuition and fee revenue increased slightly while salaries increased 4.4% due to raises. Expenses decreased in some categories like supplies and materials due to greater oversight of spending. The balance sheet shows a total fund balance of $489.5 million as of April 30, 2015, up from $373.9 million the previous year.
This document provides a summary of financial statements for Houston Community College System for the period of September 1, 2014 through June 30, 2015. As of June 30, 2015, the unrestricted fund had total revenue of $295.4 million, which represents 99% of the annual budgeted revenue. Expenses totaled $238.7 million, which is 78% of the annual budgeted expenses. Revenue increased 6% compared to the prior year while expenses increased 1%. The document also provides details on fund balances, revenue and expenditures by division, balance sheets by fund, and exemptions/waivers.
The document provides financial statements and summaries for Houston Community College System for the period of September 1, 2015 to October 31, 2015. As of October 31, 2015, total revenue received was $64.2 million, which represents 19.8% of the annual budgeted revenue of $324.6 million. Total expenses were $60 million, or 18.5% of the annual budgeted expenses. Compared to the same period last year, revenue increased by 0.4% while expenses increased by 18.5%. The fund balance increased by $4.2 million. Salaries increased 6.3% mainly due to compensation adjustments and a 2% salary increase for full-time employees. Expenses for transfers and debt increased
This document provides a summary of Houston Community College's financial statements for the period of September 1, 2015 through November 30, 2015. It shows that as of November 30, 2015 the college had total revenue of $87.2 million, which represents 26.9% of its annual budgeted revenue of $324.6 million. Expenses for the period totaled $82.6 million, or 25.4% of the annual budgeted expenses of $324.6 million. The unrestricted fund balance increased by $4.6 million for the period.
This document provides a summary of financial statements for Houston Community College System for the period of September 1, 2014 to August 31, 2015. It shows that as of August 31, 2015, total unrestricted revenue was $310.8 million, which was 104% of the budgeted amount. Total unrestricted expenses were $288.5 million, which was 94.1% of budget. The net revenue was $22.3 million, increasing the unrestricted fund balance by that amount. Tuition and fee revenue increased by 2.4% year-to-date due to enrollment increases. Salaries increased 4.1% due to across the board pay raises. Expenses decreased in some categories due to greater oversight of spending
This document provides financial statements and summaries for Houston Community College System for the period of September 1, 2015 to September 30, 2015. It includes summaries of the fund balances, revenues and expenditures for the unrestricted fund. As of September 30, 2015, the total revenue received was $54.8 million (16.9% of the annual budgeted revenue) while total expenses were $26.3 million (8.1% of the annual budgeted expenses). Revenues saw a 0.2% increase from the prior year while expenses increased 0.8%. Salaries increased 8.1% mainly due to a compensation study and 2% salary increase for full-time employees. Revenue and expenses are expected to be within budget
This document provides financial statements and summaries for Houston Community College System and Public Facility Corporation for September 1, 2015 to February 29, 2016. It shows that as of February 29, 2016, the total revenue received was $253.4 million, which is 78.1% of the annual budgeted revenue. Total expenses were $146.8 million, which is 45.2% of the annual budgeted expenses. Compared to the same time last year, revenue increased by 3.6% and expenses increased by 10.6%. The net revenue as of February 29, 2016 was $106.7 million.
The document provides financial statements for Houston Community College System for the period of September 1, 2015 to January 31, 2016. It summarizes that as of January 31, 2016, the System had total revenues of $198 million (61% of annual budget) and expenses of $123.3 million (38% of annual budget). Compared to the same time last year, revenues increased 2.2% while expenses increased 9.9%. The document also provides details on fund balances, revenues and expenses by category, adjusted budgets by divisions, and balance sheets by fund.
This document provides financial statements and summaries for Houston Community College System for the period of September 1, 2016 to September 30, 2016. It shows that as of September 30, 2016 the system had total revenue of $53.3 million which was 15.8% of its annual budgeted revenue. Expenses totaled $24.2 million or 7.2% of the annual budget. Compared to the same period last year, revenue was down 4.3% while expenses were lower by 8%. The system had a net revenue of $29.1 million for the period.
This document provides a summary of financial statements for Houston Community College System and Houston Community College Public Facility Corporation for the period of September 1, 2015 through June 30, 2016. As of June 30, 2016, total unrestricted revenue was $304.2 million, representing 94% of the annual budgeted revenue. Total expenses were $262.5 million, representing 81% of the annual budgeted expenses. The document also provides details on fund balances, revenues and expenses by division, and balance sheets for each fund.
This document provides a summary of financial statements for Houston Community College System and Houston Community College Public Facility Corporation for the period of September 1, 2016 through November 30, 2016. It includes information on fund balances, revenues, expenses, and budgets. Some key details are:
- Total unrestricted revenue is $86.3 million (25.5% of annual budget) while expenses are $72.3 million (21.4% of annual budget)
- Compared to the same period last year, revenue is down 1% while expenses are down 12.4%
- Salaries increased 5% due to a compensation study and 2% salary increase for full-time employees
- Expenses for transfers and debt decreased
KIND, an NGO focused on empowering disadvantaged children, is holding a fundraising scavenger hunt called Concrete Jungle on December 2nd at Queen's Park Savannah. Teams must solve clues around landmarks to help support KIND's child learning sponsorship program. KIND invites companies and organizations to register teams for prizes, while families can also attend for games and entertainment. Registration forms and payment are due by November 26th.
Kirkwood Community College Social Media Strategy Class 2013 - through Day 3Christoph Trappe
This document provides an overview of a social media strategy class that meets four times. The first session introduces the instructor and covers social media no-nos. Common mistakes discussed include not responding to people, sharing without reading content fully, and having unnecessary approval processes. The second session focuses on social media best practices or "do's" like being conversational and recognizing people. It also stresses setting business goals for social media use. The third session discusses building an audience, focusing social media content, managing time for social media, and monitoring engagement.
The document discusses the benefits of meditation for reducing stress and anxiety. Regular meditation practice can help calm the mind and body by lowering heart rate and blood pressure. Making meditation a part of a daily routine, even if just 10-15 minutes per day, can have mental and physical health benefits over time by helping people feel more relaxed and focused.
The document provides a summary of operating statements for Houston Community College System for the period of September 1, 2013 through June 30, 2014. Total revenues were $278 million year-to-date, with state appropriations of $56 million and ad valorem taxes of $111 million making up the largest sources of funding. Total expenses were $237 million year-to-date, with the largest expenses being salaries of $139 million and benefits of $15 million. The budget priorities for the year included $14.7 million for items like new faculty positions and security upgrades.
The document provides financial statements for Houston Community College System for the period of September 1, 2016 to March 31, 2017. It summarizes that total revenues are $271.9 million (80.4% of budget) and expenses are $169.5 million (50.2% of budget), resulting in net revenue of $102.3 million. Salaries increased 6.4% primarily due to compensation adjustments. The expenses for transfers and debt decreased $8.6 million due to bond redemption. The various fund balances and activities are presented for the period.
Sp1 fy 2013 year end financial report presentation v3 03 24-14cityofevanston
The document provides a summary of the city's fiscal year 2013 4th quarter financial results. It reports that the general fund revenues were above budget by 2.76% while expenditures were above budget by 0.21%, resulting in a $2.2 million surplus. Staff proposes transferring the surplus to other funds. Several revenue categories like sales, property, and athletic taxes exceeded projections. The parking and solid waste enterprise funds had revenue exceed expenses while water and sewer funds had deficits. Negative fund balances in the insurance and solid waste funds could potentially impact the general fund in the future if not addressed.
The document discusses the Pell Grant program, which provides need-based grants to undergraduate students. It notes that in award year 2018-2019, there will be 7.5 million recipients receiving an average of $4,100 for a total cost of $30.6 billion. It explains that the program has both discretionary and mandatory funding components, and operates much like an entitlement in that students receive grants based on financial need rather than a capped amount of available funding. The Congressional Budget Office projects that costs will continue rising over the next decade as more students enroll in postsecondary education.
This document provides a summary of an information and training session on GASB 68 pension accounting and the Uniform Grant Guidance. It discusses sample calculations and journal entries to implement GASB 68 using sample data from the Pennsylvania Public School Employees' Retirement System (PSERS). It also provides an overview of the Uniform Grant Guidance and its impact on school districts receiving federal grants. The guidance consolidates and streamlines rules for federal awards with the goals of reducing administrative burden and improving accountability.
The Town of Portsmouth's 2013 financial statements presentation reviewed the results of the 2013 audit. The Town General Fund balance increased by $706,365, above the budgeted change of zero. Revenues for the Town and School Department were above budget while expenditures were above appropriated amounts. The funded status of the Town's pension plan declined from 52.7% in 2012 to 52.1% in 2013, with an unfunded accrued liability of $3.75 million. The audit is still ongoing and recommendations will be presented upon completion.
This document provides a summary of financial statements for Houston Community College System and Houston Community College Public Facility Corporation for the period of September 1, 2016 to January 31, 2017. As of January 31, 2017, total revenue was $200.9 million (59.5% of budget) and total expenses were $116.7 million (34.5% of budget), resulting in a net revenue of $84.3 million. Compared to the same period last year, revenue increased 1.5% while expenses decreased 5.4%. Salaries increased 6.8% mainly due to a compensation study and 2% salary increase for full-time employees. Expenses for transfers and debt decreased $8.8 million due to bond
- Total revenue for the Unrestricted Fund as of September 30, 2017 is $53.6 million, representing 15.4% of the annual budgeted revenue of $348.3 million. Expenses total $24.4 million to date, representing 7% of the annual budgeted expenses.
- Compared to the same period last year, revenues are higher by 0.6% and expenses are higher by 0.7%. Actual net revenue as of September 30, 2017 is $29.3 million.
- Salaries increased 3.8% primarily due to a compensation study alignment and a 2% salary increase for full-time employees. Several expense line items have variances due to timing differences that will normalize
The town of Portsmouth's 2010 financial audit showed:
1) The general fund balance increased by $663,437, though the budgeted change was zero, with the undesignated fund balance representing 5.8% of the operating budget.
2) Revenues were above budget by $19,309 while expenditures were $687,069 below appropriations.
3) The town pension plan was only 60.6% funded as of 2010, significantly lower than 2000, and contributions will need to increase to address future obligations.
For the period of September 1, 2017 through November 30, 2017:
- Total revenues were $85.4 million, representing 24.5% of the annual budgeted revenues of $348.3 million. Total expenses were $77.8 million, representing 22.3% of the annual budgeted expenses.
- Salaries increased 4.5% from the same period last year, primarily due to compensation adjustments. Several expense categories had variances due to timing differences in transactions.
- As of November 30, 2017, the unrestricted fund had a net revenue of $7.7 million, with revenues and expenses expected to fall within budget by fiscal year-end.
The financial analysis was prepared to support a proposed $1/hour wage increase for bargaining unit employees of Tulsa Public Schools. While revenue decreased in 2013 due to lower federal funds, state aid has increased over 2011-2013. General fund expenditures have consistently declined from 2011-2013, most significantly for student transportation. Underspending has allowed the district to achieve a revenue surplus each year, doubling its fund balance. The analysis concludes Tulsa Public Schools is in a healthy financial condition and can support a wage increase through more accurate budgeting and better use of existing resources.
The document provides financial statements for Houston Community College System for the period of September 1, 2017 to October 31, 2017. As of October 31, 2017, total revenue is $63.1 million which represents 18.1% of the annual budgeted revenue of $348.3 million. Total expenses are $52.1 million which is 15% of the annual budgeted expenses of $348.3 million. Compared to the same period last year, revenues are higher by 0.2% and expenses are higher by 5.5%.
A review of the Grosse Pointe Public School System's financial position in light of the 2013-14 independent financial audit delivered in November 2014.
The document provides an overview of Evanston, Illinois' proposed fiscal year 2014 budget. It summarizes the fiscal year 2013 budget status, including a projected $1.9 million surplus. It then outlines the key aspects of the proposed FY2014 budget, including total revenues and expenditures of $252 million. The general fund is proposed as balanced with $87 million in revenues and $87 million in expenditures. The document discusses adjustments to balance the general fund and outlines capital improvement projects that will be funded through $8.3 million in general obligation debt issuance.
The unrestricted fund revenue as of July 31, 2017 was $319.9 million, which is 94.7% of the annual budgeted revenue of $338 million. Expenses totaled $291 million, which is 86.1% of the annual budgeted expenses. Compared to the same period last year, revenues increased 2.4% and expenses increased 2.3%. While the current net revenue is $28.9 million, revenues and expenses are expected to balance out by the end of the fiscal year. Salaries increased 6.5% due to compensation adjustments and a 2% salary increase for full-time employees, while benefits increased 9.8%. Expenses for transfers and debt decreased by $6.
1 Huffman Trucking Memo To All Senior Staff F.docxmercysuttle
1
Huffman Trucking
Memo
To: All Senior Staff
From: Kristen Huffman, CEO & President
Re: New Strategic Direction
Thank you for attending our annual strategic planning session. Given recent changes in the economy and
customer needs, a new direction for our company is necessary. After reviewing how other companies
restructured themselves in recent years, we will mirror how UPS® conducts business as a
partner/consultant with large customers. For our company, however, we will go a step further and become a
warehousing/local just-in-time (JIT) delivery source, instead of providing logistics advice to clients, as UPS®
does.
To accomplish this, we must integrate this new direction into our upcoming strategic plan and financial
planning. First, I need all department managers to prepare their budgets.
I would also like our accounting department to move ahead on a preliminary set of pro forma statements,
even without final budgets, using the following assumptions. They must determine if external funding is
needed.
I have attached a summary of assumptions about this new direction.
New Strategic Direction
Page 2
1. Assume inflation of 4% on expenses, not including depreciation and taxes. This is in addition to the
new initiative’s costs.
New Strategic Initiative Assumptions
Huffman may overcome increased competition and economic slowdown by initiating a new strategy; this
will turn our company into a one-stop shop and key logistics company. We will provide consulting services,
generate revenues, and become a JIT warehouse/delivery source. A local retailer selling products from a
distant manufacturing plant, for example, may accept JIT deliveries, instead of 40-foot trailer loads. This
would be fulfilled by the local operation.
2. Assume the following regarding variables versus fixed-nature-of-income-statement operating
expenses for the existing business:
a. 80% of wage benefits is variable and 20% is fixed.
b. 100% of fuel expenses, purchased transportation, and operating supplies is variable.
c. 100% of operating taxes is fixed.
d. 20% of insurance and claims is fixed; the balance is variable.
e. Assume depreciation, even with new expenditures, is fixed as the retirement of written-off
assets, equaling new equipment.
3. There will be new spending areas reflected on future budgets to reflect added satellite warehouse
costs and space rental and costs of running the locations.
a. In the first year, add $10 million of inflation, space rental, and operating costs at 25% of
revenues from the new initiative.
b. In the second year, add $10 million space rental, with inflation at the same variable percentage
of sales.
c. In the third year, add $7.5 million of the variable percentage of sales.
4. In marketing, budget accounts have been added for new incurred costs. We will continue our
present promotion and launch a new program, with the assistance of our marketing partner, the ABC
...
This document provides a financial review of Evanston, IL's fiscal year 2014 second quarter (June 30, 2014). It summarizes that the general fund revenues were $43.5 million (48.8% of budget) while expenditures totaled $40.8 million (45.8% of budget), resulting in a $2.7 million surplus compared to $2.5 million the prior year. Several revenue sources like property tax and state income tax met over 50% of their budgets. Expenditures in most departments were under 50% of budget. Enterprise funds like parking and water had revenues under 50% of targets but expenditures were also lower than 50% of budget. The city expects to end the year close to
This document provides a summary of financial statements for Houston Community College System for the period of September 1, 2016 to October 31, 2016. It shows that total revenue was $63 million, which was 18.6% of the annual budgeted revenue. Total expenses were $49.4 million, which was 14.6% of the annual budgeted expenses. Compared to the same period last year, revenue decreased by 1.9% while expenses decreased by 17.7%. Salaries increased by 4% due to a compensation study and a 2% salary increase for full-time employees. Expenses for transfers and debt decreased by $8.7 million due to bond redemption in the prior fiscal year. Revenues and expenses are
The document summarizes Lockton Companies' presentation to Metropolitan Community College's Insurance Committee regarding MCC's health insurance renewal for 2015. It includes: (1) a summary of 2013-2014 plan performance and large claims; (2) details of MCC's current 2014 plan design and cost sharing; (3) BlueKC's proposed 2015 renewal rates, which include a 15% increase to fixed fees and a negotiated 10% increase to maximum claim liability factors; and (4) an analysis of the impact of proposed increases to prescription drug out-of-pocket maximums. The presentation provides information to help MCC evaluate its health insurance options and costs for 2015.
The document summarizes workforce trends in Texas, the Houston region, and at Houston Community College. It notes that while the Texas and Houston economies are growing and job demand is high, traditional college enrollment and the number of high school graduates entering higher education have been declining. TRUE Initiative grants awarded to HCC helped increase enrollment in cybersecurity, commercial driver's license training, and manufacturing programs to help close workforce skills gaps. However, sustained funding is needed to continue meeting the region's workforce needs as the economy grows.
The document provides an overview of Houston Community College System. It summarizes key student demographics which show the student body is diverse with over half being students of color. It also outlines the colleges' strategic priorities which focus on student success, diversity, personalized learning, and becoming the top choice for education. Additionally, it reviews the college's governance structure and administration.
The Houston Community College Small Business Development Program has made improvements to expand opportunities for certified small businesses. The program certification accepts additional certifications from the City of Houston and now includes minority, women, disabled, and disadvantaged owned businesses. The evaluation process for small businesses has also improved to maximize their chance of competing for and winning contracts. Certified small businesses can now receive up to 15 points based on their status and level of subcontracting with other certified small businesses.
This document is the procurement operations procedures manual for HCC. It provides definitions for over 75 procurement-related terms used throughout the manual. The table of contents shows that the manual contains articles on general provisions, sources of supplies and services, procurement methods, competitive sealed bidding, competitive sealed proposals, construction procurement, contract administration and close out. The document establishes standard procedures and guidelines for HCC's procurement processes.
This document provides information about Houston Community College (HCC) for the Common Data Set. It includes contact information for HCC's Office of Institutional Research and general information about HCC such as its status as a public community college with an open enrollment policy. Enrollment numbers from 2020-2021 are provided for full-time and part-time students by gender and race/ethnicity. Graduation and retention rates cannot be provided since HCC is a two-year institution. Application information is given showing total freshman applicants and admits for 2020. Admission requirements are not listed since HCC has an open enrollment policy.
This document contains the bylaws of the Board of Trustees of Houston Community College. It establishes ethics policies for trustees and senior staff, including a code of conduct. It has been amended over 30 times since its initial adoption in 2010 to update various sections. The bylaws cover topics like the board's powers and authority, committees, meetings, and operations. It aims to ensure high ethical standards and proper governance of the college.
This document outlines Houston Community College's regulation regarding ensuring equal access to technology resources for individuals with disabilities. It establishes guidelines for making the college's websites and digital content compliant with Web Content Accessibility Guidelines 2.0 Level AA. It defines key terms and roles, such as designating the ADA/Section 504 Coordinator as responsible for handling requests regarding inaccessible online content. The regulation applies to all college employees and users of technology resources, and states that inaccessible content must be made available in an equally effective alternative format upon request.
This document summarizes the bylaws of the Board of Trustees of Houston Community College. It outlines ethics policies for board members and senior staff, including standards of conduct, prohibited communications during the bid process, and requirements for disclosing conflicts of interest. The bylaws establish that board members must act in the best interests of the college, maintain confidentiality, and avoid undue external influence. Board members and senior staff are prohibited from certain communications with bidders during the bid period and from accepting related political contributions.
1. The document is a memorandum from the Chancellor of Houston Community College to the Board of Trustees regarding new reporting requirements under Texas law for incidents of sexual harassment, assault, dating violence or stalking.
2. It provides details on the requirements of Texas Education Code Section 51.253(c) which mandates that the Chancellor submit a report to the Board and post publicly on incidents reported and their dispositions.
3. Attached is the first report submitted by the Chancellor to the Board as required, providing summary data on 4 reports received under the relevant section of the Code and 1 report regarding failure to report from January to March 2020. The 3 investigations were still ongoing.
1) The document outlines Houston Community College's policy prohibiting discrimination, harassment, sexual harassment, sexual assault, dating violence, stalking, and retaliation.
2) It defines key terms like employee, sex or gender, and sexual harassment. It also defines prohibited conduct covered by the policy.
3) The policy establishes reporting procedures, including mandatory reporting requirements for employees, and designates the Title IX Coordinator to handle reports of sex discrimination.
This document outlines Houston Community College's policy on sex and gender discrimination, including sexual harassment and retaliation. It defines discrimination and prohibited conduct, and establishes procedures for reporting, investigating, and resolving complaints. It designates the Title IX Coordinator and states that any employee receiving a report must notify them. It also provides examples of corrective actions that may be taken following investigations.
This document outlines the bylaws of the Board of Trustees of Houston Community College. It was originally adopted on January 1, 2010 and has been amended numerous times, with the most recent amendment on February 5, 2020. The bylaws cover topics such as ethics and standards of conduct for trustees and staff, the powers and responsibilities of the board, elections, meetings, committees, and board operations. The purpose is to provide internal governance and management for the board and its activities in accordance with applicable laws.
The Houston Community College System's (HCC) total assets decreased by $5.4 million from fiscal year 2018 primarily due to spending $19.4 million to complete capital improvement projects, reducing restricted cash and investments. Total liabilities increased by $76.4 million mainly due to changes in pension and other post-employment benefit assumptions. HCC's net position increased by $3 million to $393 million for fiscal year 2019 despite higher pension and other post-employment benefit expenses. Non-operating revenues increased by $8 million.
This document is Houston Community College's 2019 Annual Clery Security Report, which provides crime statistics and safety policies for the college as required by law. It summarizes crime data for 2018, including reports of crimes such as burglary, assault, and dating violence. It also outlines the college's policies for reporting crimes, making timely warnings, and preparing the annual disclosure. The report provides definitions of Clery-defined crimes and lists contact information for campus safety authorities.
The document is Houston Community College's updated 2019 procurement plan listing 63 anticipated solicitations for goods and services projected to be sourced during the year, grouped by month. It notes that additional needs may be added and that official solicitation notices will be posted on the procurement website. It also outlines prohibited communication policies for proposers during the "blackout period" between advertisement and contract execution or cancellation.
This document provides information about Houston Community College for a Common Data Set. It includes contact information for the college, basic facts such as the types of degrees offered and academic calendar, enrollment numbers broken down by gender and race/ethnicity, persistence and graduation rates, and retention rates. Houston Community College is a public, coeducational institution located in Houston, Texas that offers associate degrees and certificates on a semester system with an undergraduate enrollment of over 57,000 students as of fall 2018.
The document provides tips on how to recognize email scams by learning to spot suspicious elements like generic salutations, alarmist messages, grammatical errors, requests for personal information, and emails that do not come from official college domains. Examples are given of phishing emails disguising themselves as being from Houston Community College but with email addresses from outlook.com, gmail.com, and foreign domains, as well as links that do not match the displayed text. Readers are advised to be wary of these types of suspicious emails.
The document summarizes construction spending to date totaling $342,687,622 on capital improvement projects. Of the total spending, $126,116,612 or 37% went to small, women, minority, disadvantaged, or historically underutilized businesses. The largest portions of protected spending went to small businesses at $107,526,338 or 31% of total spending and women-owned businesses at $22,593,825 or 7% of total spending. The document then lists individual subcontractors and the amounts they were paid in relation to their protected business classifications.
The document summarizes spending to date on a Capital Improvement Program construction project totaling $325.7 million. Of the total spending, $116.4 million or 36% went to small, women, minority, disadvantaged, or historically underutilized businesses. The top categories were: total SBE spending of $98.7 million (30% of total), total MBE spending of $36.7 million (11% of total), and total WBE spending of $17.2 million (5% of total). The document also lists individual subcontractors or vendors that worked on the project, indicating if they were certified in various business categories.
The document summarizes construction spending to date totaling $337,398,887 on a capital improvement program. It shows that 37% of total spending, or $123,246,981, went to small/women/minority/disadvantaged businesses. Specifically, 31% ($104,701,271) went to small businesses, 6% ($21,156,816) to women-owned businesses, and 13% ($42,320,345) to minority-owned businesses. The document also provides a breakdown of individual subcontractor payments by business type.
Monthly Market Risk Update: June 2024 [SlideShare]Commonwealth
Markets rallied in May, with all three major U.S. equity indices up for the month, said Sam Millette, director of fixed income, in his latest Market Risk Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
KYC Compliance: A Cornerstone of Global Crypto Regulatory FrameworksAny kyc Account
This presentation explores the pivotal role of KYC compliance in shaping and enforcing global regulations within the dynamic landscape of cryptocurrencies. Dive into the intricate connection between KYC practices and the evolving legal frameworks governing the crypto industry.
Introduction to Metro in India by cosmo soil.pptxcosmo-soil
The metro system in India is a vital part of urban mobility, providing eco-friendly, efficient, and affordable transportation. This article explores its history, benefits, and future developments, highlighting how metros enhance quality of life and drive urban development.
Poonawalla Fincorp’s Strategy to Achieve Industry-Leading NPA Metricsshruti1menon2
Poonawalla Fincorp Limited, under the leadership of Managing Director Abhay Bhutada, has achieved industry-leading Gross Non-Performing Assets (GNPA) below 1% and Net Non-Performing Assets (NNPA) below 0.5% as of May 31, 2024. This success is attributed to a strategic vision focusing on prudent credit policies, robust risk management, and digital transformation. Bhutada's leadership has driven the company to exceed its targets ahead of schedule, emphasizing rigorous credit assessment, advanced risk management, and enhanced collection efficiency. By prioritizing customer-centric solutions, leveraging digital innovation, and maintaining strong financial performance, Poonawalla Fincorp sets new benchmarks in the industry. With a continued focus on asset quality, digital enhancement, and exploring growth opportunities, the company is well-positioned for sustained success in the future.
CRYPTOCURRENCY REVOLUTIONIZING THE FINANCIAL LANDSCAPE AND SHAPING THE FUTURE...itsfaizankhan091
Cryptocurrency, a digital or virtual form of currency that uses cryptography for security, has revolutionized the financial landscape. Originating with Bitcoin's inception in 2009 by the pseudonymous Satoshi Nakamoto, cryptocurrencies have grown from niche curiosities to mainstream financial instruments, reshaping how we think about money, transactions, and the global economy.
The birth of Bitcoin marked the beginning of the cryptocurrency era. Unlike traditional currencies issued by governments and controlled by central banks, Bitcoin operates on a decentralized network using blockchain technology. This technology ensures transparency, security, and immutability of transactions, fundamentally challenging the centralized financial systems that have dominated for centuries.
Bitcoin was conceived as a peer-to-peer electronic cash system, aimed at providing an alternative to the traditional banking system plagued by inefficiencies, high fees, and lack of transparency. The underlying blockchain technology, a distributed ledger maintained by a network of nodes, ensures that every transaction is recorded and cannot be altered, thus providing a secure and transparent financial system.
June 20, 2024
CRYPTOCURRENCY: REVOLUTIONIZING THE FINANCIAL LANDSCAPE AND SHAPING THE FUTURE
Cryptocurrency: Revolutionizing the Financial Landscape and Shaping the Future
Cryptocurrency, a digital or virtual form of currency that uses cryptography for security, has revolutionized the financial landscape. Originating with Bitcoin's inception in 2009 by the pseudonymous Satoshi Nakamoto, cryptocurrencies have grown from niche curiosities to mainstream financial instruments, reshaping how we think about money, transactions, and the global economy.
#### The Genesis of Cryptocurrency
The birth of Bitcoin marked the beginning of the cryptocurrency era. Unlike traditional currencies issued by governments and controlled by central banks, Bitcoin operates on a decentralized network using blockchain technology. This technology ensures transparency, security, and immutability of transactions, fundamentally challenging the centralized financial systems that have dominated for centuries.
Bitcoin was conceived as a peer-to-peer electronic cash system, aimed at providing an alternative to the traditional banking system plagued by inefficiencies, high fees, and lack of transparency. The underlying blockchain technology, a distributed ledger maintained by a network of nodes, ensures that every transaction is recorded and cannot be altered, thus providing a secure and transparent financial system.
#### The Proliferation of Altcoins
Following Bitcoin's success, thousands of alternative cryptocurrencies, or altcoins, have emerged. Each of these altcoins aims to improve upon Bitcoin or serve specific purposes within the digital economy. Notable examples include Ethereum, which introduced smart contracts – self-executing contracts with the terms of the agreement
“Amidst Tempered Optimism” Main economic trends in May 2024 based on the results of the New Monthly Enterprises Survey, #NRES
On 12 June 2024 the Institute for Economic Research and Policy Consulting (IER) held an online event “Economic Trends from a Business Perspective (May 2024)”.
During the event, the results of the 25-th monthly survey of business executives “Ukrainian Business during the war”, which was conducted in May 2024, were presented.
The field stage of the 25-th wave lasted from May 20 to May 31, 2024. In May, 532 companies were surveyed.
The enterprise managers compared the work results in May 2024 with April, assessed the indicators at the time of the survey (May 2024), and gave forecasts for the next two, three, or six months, depending on the question. In certain issues (where indicated), the work results were compared with the pre-war period (before February 24, 2022).
✅ More survey results in the presentation.
✅ Video presentation: https://youtu.be/4ZvsSKd1MzE
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
Vadhavan Port Development _ What to Expect In and Beyond (1).pdfjohnson100mee
The Vadhavan Port Development is poised to be one of the most significant infrastructure projects in India's maritime history. This deep-sea port, located in Maharashtra, promises to transform the region's economic landscape, bolster India's trade capabilities, and generate a plethora of employment opportunities. In this blog, we will delve into the various facets of the Vadhavan Port Development: what to expect in and beyond its completion, and how it stands to influence the future of India's maritime and economic sectors.
1. `
Summary Operating Statements
For the Period
September 1, 2013 - May 31, 2014
For the Meeting of the Board of Trustees - June 19, 2014
for
Houston Community College System
&
Houston Community College Public Facility Corporation
2. Memorandum Management Discussion & Analysis i
Fund Balances Fund Balance Statement 1
Operating Summary HCCS Unrestricted Revenue & Expenditures 2
Auxiliary Sources and Uses of Auxiliary Funds 3
Balance Sheet Balance Sheet by Fund 6
Budgets Adjusted Budgets by Division 7
Exemptions/Waivers Exemptions & Waivers Detail 8
Table of Contents
For the Period September 1, 2013 - May 31, 2014
For the Meeting of the Board of Trustees
Houston Community College System
3. Managements Discussion and Analysis
Thru May 31, 2014
Revenues
Expenditures
Total Salaries are $126,825,237 year-to-date, 4% above the previous year, namely due to the 3% annual salary
increases. Salary expense at year-end is expected to increase by $1.5M due to changes in TRS guidelines. Total
salaries at year end are expected to be $169,920,916.
Contracted services year-to-date totaled $16,575,677, 10.4% above the previous year. The increase is namely due to
an increase in janitorial, security and facility maintenance. Additional IT projects also contributed to the increase.
Total Contracted Services at year-end are expected to be $26,691,552.
i
Athletic Field Project - In April 2012, the Board approved approximately $4.1M in Auxiliary funds for athletic fields.
This amount has been set aside from the Auxiliary Fund Balance.
Tuition & Fee-Extended Learning receipts totaled $6,090,932 year to date, 3.6% above 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 $269,459,286 year-to-date. Total revenue received
at fiscal year-end is expected to be $293,196,587; which is 2.3% above budget plan.
Benefits costs totaled $13,837,703 year-to-date, 2.5% 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. Due to TRS rule changes,
benefits at year-end are expected to increase by $1.5M. Total benefits at fiscal year end are expected to be
$19,496,331.
Total revenues and expenditures by expense type for the Operating Fund for 2013-2014 are reported on page one.
Highlights of financial activities year-to-date are as follows:
State Appropriations received year to date totaled $49,494,917, 1.9% 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 $69,202,364.
Ad Valorem Tax collections totaled $110,727,935 year-to-date. The tax rate for FY 2014 remains the same as the
prior year tax rate at $0.097173. However, the tax rate applied to operations decreased proportionally this year due
to the increase in the tax rate related to debt service. Tax revenue generated by the applied tax rate is trending
higher than budget plan by approximately 8% due to higher than anticipated increases in property valuations within
the taxing district. We project that the total tax revenue for the fiscal year will be $112,151.493.
Tuition and Fees net revenue year to date totaled $100,858,389 which is 1.5% lower than the same time last year.
Fall 2013 enrollment decreased 1.2%; SCH -1.1%, and Spring 2014 enrollment is down 3.4%; SCH -1.9% to-date
compared to last year. We are projecting tuition and fee revenue to be $102,409,606 at fiscal year-end; 3.7% below
budget plan.
4. Managements Discussion and Analysis
Thru May 31, 2014
Budget Priorities funding allocated for the year are detailed below through May 31, 2014.
Budget Commitments/ Priority Funding
Expense:
Position Management
New Funding Requests1
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
Total Budget Commitments/Priorities
Instructional & Other Materials year-to date totaled $5,804,555, 27.4% above last fiscal year. IT upgrades and
additional software contributed to the increase. Expenses in this area are expected to be $9,368,610 at year end.
Total operating fund expenditures year-to-date total $216,487,856. We are projecting expenditures to be
$302,937,280 at fiscal year end.
Budget
2,374,415$
5,535,476
1,300,000
125,000
2,500,000
ii
-
1
Items requested during the budget planning process for new funding (i.e. Equipment, personnel, adjunct faculty
funding, etc.)
527,000
1,320,000
1,000,000
49,500
14,731,391$
5. Unrestricted Restricted Auxiliary1
Loan &
Endowments Scholarship Agency Unexpended Plant7
Retire of Debt Invest in Plant PFC Grand Total
Fund Balance as of 9/1/2013, Audited $ 89,452,802 $ 8,722,535 $ 9,026,196 $ 509,932 $ 705,617 $ (59,611) $ 3,149,255 $ 9,482,219 $ 224,400,116 $ (6,325,820) $ 339,063,240
Revenue
2
269,459,286 23,910,417 13,935,053 - 93,571,652 10 2,994,822 34,058,797 2,050,009 4,084 439,984,130
Expenses
Salaries 126,825,237 4,835,040 5,392,923 - 1,184,493 - 162,906 - - - 138,400,600
Employee Benefits 13,837,703 10,294,288 1,039,943 - - - 35,881 - - - 25,207,814
Supplies & General Exp 3,592,947 214,632 717,879 - - - 30,302 - - - 4,555,760
Travel 719,778 145,483 164,213 - - - - - - - 1,029,474
Marketing Costs 775,050 25,210 29,588 - - - 1,300 - - - 831,149
Rentals & Leases 1,880,266 84,385 47,040 - - - 2,361 - - - 2,014,051
Insurance/Risk Mgmt 6,462,004 5,500 3,854 - - - - - - - 6,471,358
Contracted Services 16,575,677 3,236,960 1,301,584 - - - 292,423 221,609 - - 21,628,254
Utilities 5,369,014 - 330,239 - - - - - - - 5,699,253
Other Departmental Expenses
3
1,876,763 58,677 3,927,917 - - - - - - - 5,863,358
Instructional and Other Materials4 & 5
5,804,555 197,355 193,934 - - - 186,897 - - - 6,382,742
Maintenance and Repair 997,793 432,500 10,668 - 251,135 - 150,266 - - - 1,842,362
Transfers In/Out
6
26,660,584 - 4,095,000 - (2,940,387) - 4,439,193 (32,254,390) - - (0)
Debt 92,718 - - - - - 468,995 55,710,726 - 3,076,987 59,349,425
Capital Outlay 5,017,767 401,047 25,227 - - - 67,826,183 - - 152,607 73,422,832
Depreciation - - - - - - - - 14,330,199 - 14,330,199
Scholarship Distribution 95,498,087 95,498,087
Total Expenses 216,487,856 19,931,077 17,280,009 - 93,993,329 - 73,596,708 23,677,945 14,330,199 3,229,594 462,526,716
Net of Revenue/Expenses 52,971,430 3,979,340 (3,344,956) - (421,677) 10 (70,601,885) 10,380,852 (12,280,190) (3,225,510) (22,542,587)
Fund Balance Entries (534,916) (148,343) 74,925,012 19,685,233 93,926,986
Debt Funded -
Fund Balance as of 05/31/2014 141,889,316$ 12,701,875$ 5,681,240$ 509,932$ 135,597$ (59,601)$ 7,472,382$ 19,863,071$ 231,805,159$ (9,551,330)$ 410,447,639$
1
Inculdes Foundation expenses of approx. $1.6M (since inception) supplemental funding approved by the Board.
2
Revenue in Unrestricted Fund is shown net of Exemptions/Waivers, namely $6.5M 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 $5,804,555 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 $179,217 in the Auxiliary category is attributed to NEO Café.
6
Items in this category include all student revenue bond payments, transfers for scholarship matching funds,
and transfers to the Unexpended Plant Fund.
7
Items in this category are funded through Bonds.
*HCC has adopted and adheres to GASB 34(1999) , GASB 54(2010) and OMB 134(1993). The college has received unqualified audit opinions since the adoption of each.
Funds
Operating Statement - Unaudited Fund Balances (Across all Funds)
as of May 31, 2014
1
6. FY2013 Actuals FY2014 Budget
Year-to-Date
Actuals Thru May
31, 2014
Actuals as a
% of Budget Unrealized Budget
Year-to-Date
Actuals Thru May
31, 2013
2013-2014
Inc/(Dec) vs. 2012-
2013
Actuals %
Inc/(Dec)YTD
vs. PriorYTD
Projected Actuals
@ 8/31/2014
Projected 2013-
2014 Inc/(Dec) vs.
Budget
Projected
2013-2014
Inc/(Dec) vs.
Adj Budget %
REVENUES
State Appropriations 70,014,003$ 69,202,364$ 49,494,917$ 71.5% 19,707,447$ 50,459,091$ (964,174)$ -1.91% 69,202,364 - 0.00%
Ad Valorem Taxes 106,097,476 101,478,107 110,727,935 109.1% (9,249,828) 103,556,327 7,171,608 6.93% 112,151,493 10,673,386 10.52%
Tuition, Net 40,063,500 41,453,277 38,701,781 93.4% 2,751,496 39,639,661 (937,880) -2.37% 39,134,179 (2,319,098) -5.59%
Fees1
63,996,717 64,922,582 62,156,607 95.7% 2,765,975 62,788,281 (631,674) -1.01% 63,275,428 (1,647,154) -2.54%
Other Local Income2
2,184,999 2,543,140 1,803,852 70.9% 739,288 1,724,272 79,579 4.62% 2,247,796 (295,344) -11.61%
Tuition & Fee, Net
-- Extended Learning
6,400,587 6,565,665 6,090,932 92.8% 474,733 5,877,199 213,733 3.64% 6,565,665 0 0.00%
Grant Revenue 517,655 434,410 483,261 111.2% (48,851) 379,224 104,037 27.43% 619,663 185,253 42.64%
Total Revenues 289,274,937 286,599,545 269,459,286 94.0% 17,140,259 264,424,056 5,035,230 1.90% 293,196,587 6,597,042 2.30%
Assigned Fund Balance Transfers In3
Assigned Fund Balance Transfers In3
- 14,731,391 - 0.0% 14,731,391 - - 0.00% 14,731,391 - 0.00%
FY2013 Purchase Order Rolls - 6,772,578 - 0.0% 6,772,578 - - 0.00% 6,772,578 - 0.00%
Total Assigned FB Transfers In - 21,503,969 - - 21,503,969 - - - 21,503,969 - -
Total Revenues Plus Assigned FB Transfer In 289,274,937$ 308,103,514$ 269,459,286$ 87.5% 38,644,228$ 264,424,056$ 5,035,230$ 1.90% 314,700,556$ 6,597,042$ 2.14%
EXPENSES
Salaries 158,833,961 174,001,463 126,825,237 72.9% 47,176,226 121,932,790 4,892,447 4.01% 169,920,916 (4,080,547) -2.35%
Employee Benefits 18,704,344 18,152,880 13,837,703 76.2% 4,315,177 13,499,589 338,114 2.50% 19,496,331 1,343,451 7.40%
Supplies Gen Exp 5,216,679 6,220,338 3,592,947 57.8% 2,627,390 3,660,611 (67,664) -1.85% 5,737,537 (482,800) -7.76%
Travel 883,137 1,271,172 719,778 56.6% 551,394 634,105 85,673 13.51% 1,125,991 (145,181) -11.42%
Marketing Costs 1,350,751 1,286,782 775,050 60.2% 511,732 907,883 (132,832) -14.63% 1,286,782 - 0.00%
Rental & Leases 2,234,487 2,997,527 1,880,266 62.7% 1,117,261 1,734,546 145,720 8.40% 2,997,527 - 0.00%
Insurance/Risk Mgmt 6,521,682 7,052,698 6,462,004 91.6% 590,694 6,519,144 (57,140) -0.88% 7,052,698 - 0.00%
Contract Services4
21,328,764 26,691,552 16,575,677 62.1% 10,115,875 15,014,072 1,561,605 10.40% 26,691,552 - 0.00%
Utilities 8,414,469 11,369,205 5,369,014 47.2% 6,000,191 5,880,346 (511,332) -8.70% 10,271,465 (1,097,741) -9.66%
Other Departmental Expenses5
1,799,321 2,509,576 1,876,763 74.8% 632,813 1,430,302 446,461 31.21% 2,509,576 - 0.00%
Instructional & Other Materials 6,263,298 9,403,646 5,804,555 61.7% 3,599,091 4,558,092 1,246,463 27.35% 9,368,610 (35,036) -0.37%
Maintenance & Repair 1,082,934 1,867,759 997,793 53.4% 869,966 453,380 544,413 120.08% 1,867,759 - 0.00%
Transfers/Debt 33,095,470 30,747,366 26,753,301 87.0% 3,994,065 27,756,872 (1,003,571) -3.62% 30,747,366 - 0.00%
Budget Commitments - 3,255,949 - 0.0% 3,255,949 - - 0.00% 2,817,462 (438,487) -13.47%
Capital Outlay 4,451,702 11,275,602 5,017,767 44.5% 6,257,834 2,398,636 2,619,132 109.19% 11,045,708 (229,894) -2.04%
Total Expenses 270,180,997$ 308,103,514$ 216,487,856$ 70.3% 91,615,658$ 206,380,368$ 10,107,488 4.90% 302,937,280 (5,166,234) -1.68%
NET REVENUE Incr/(Decr) Vs EXPENSES 19,093,940$ 52,971,430$ 58,043,688$ (9,740,692)$ 11,763,277$
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. Accreditation fees,
Graduation Expense, Elections Expense).
HOUSTON COMMUNITY COLLEGE
2013-2014 Budget vs. Actuals
as of May 31, 2014
HCCS CURRENT UNRESTRICTED
2
7. 3101-3100
Main Leasing
3104 - Minority
Business
Development
Agency Misc. Auxiliary2
Foundation3
Marketing
Bookstore
Commission
Total Auxiliary
(3110)
3111
International
Student
Services4
3201
Cafe Club NEO
3100 Main
Subtotal
18,607,266$ -$ (13,197,204)$ (1,458,032)$ (16,170,934)$ 20,828,597$ (9,997,573)$ (1,160,839)$ (1,435,926)$ 6,012,927$
FY2013
Revenue 3,961,385 14,250 377,716 - - 1,938,886 2,316,602 - 381,788 6,674,025
Salaries 227,764 480,099 63,658 543,757 232,583 204,278 1,208,382
Benefits 61,166 116,940 12,582 129,522 55,064 51,162 296,914
Supplies Gen Exp 30,902 71,003 8,396 79,399 11,774 122,075
Travel 5,231 4,545 9,776 23,388 33,164
Marketing Costs 29,588 29,588 29,588
Rental & Leases 2,674 31,575 31,575 700 34,949
Contract Services 668,973 238,828 63,279 302,107 823 971,903
Utilities 328,188 - 2,051 330,239
Departmental Expenses 1,500 318,287 7,429 3,484,071 3,809,787 19,556 3,830,843
Instructional & Other
Materials
600 14,118 14,118 179,217 193,934
Maintenance & Repair 3,062 508 508 7,087 10,658
Insurance/Risk Mgmt 28 28 130 158
Exemptions and Waivers 2,065 2,065 2,065
Transfer/Debt5 4,101,005 - 4,101,005
Capital Outlay 2,582 16,640 16,640 19,222
Total Expense 5,428,417 - 1,310,794 174,005 - 4,968,871 330,721 457,093 11,185,101
Contribution to Fund Balance (1,467,032) 14,250 (933,078) (174,005) (3,484,071) 1,938,886 (2,652,269) (330,721) (75,305) (4,511,075)
17,140,234$ 14,250$ (14,130,282)$ (1,632,038)$ (19,655,005)$ 22,767,483$ (12,649,842)$ (1,491,560)$ (1,511,231)$ 1,501,851$
1
Restricted by limitations; must comply with laws, statutes and regulations.
2
Common Area - Expenditures in this category include mailroom, child day care, Minority Male Initiative, Govt. Relation, Mobile Go, etc.
3
Approx. $1.6M (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
In April 2012 the Board approved approx. $4.1M in auxiliary funds for athletic fields.
HOUSTON COMMUNITY COLLEGE SYSTEM
Auxiliary Budget By Fund
as of May 31, 2014
Net Assigned Fund Balance
as of 03/31/12
Assigned Fund Balance at
August 31, 2013
3
Auxiliary Funds1
3110
8. HOUSTON COMMUNITY COLLEGE SYSTEM
Auxiliary Budget By Fund
as of May 31, 2014
3207
Saigon Tech2
3208
Saudi Consulting
Services3
3209
Qatar
3210
International
Initiatives Subtotal
257,633$ 155,804$ 880,316$ (92,954)$ 1,200,800$
FY2013
Revenue 23,333 - 5,192,032 - 5,215,365
Salaries 1,200 3,987,849 3,989,049
Benefits 711,157 711,157
Supplies Gen Exp 279 6,987 7,266
Travel 3,075 17,327 20,402
Marketing Costs -
Rental & Leases -
Contract Services 105,000 105,000
Utilities -
Departmental
Expenses
9,983 9,983
Instructional &
Other Materials
-
Maintenance &
Repair
-
Insurance/Risk
Mgmt
-
Exemptions and
Waivers
-
Transfer -
Capital Outlay -
Total Expense 4,554 - 4,838,303 - 4,842,857
Contribution to Fund Balance 18,779 - 353,729 - 372,507
276,412$ 155,804$ 1,234,045$ (92,954)$ 1,573,308$
1
Restricted by limitations; must comply with laws, statutes and regulations.
2
Revenue is associated with Saigon Tech
3
Fund Balance is comprised of Settlements from NCAAA Contract & Education Experts Co.
Assigned Fund Balance at
August 31, 2013
Net Assigned Fund Balance
as of 03/31/12
4
Auxiliary Funds1
9. HOUSTON COMMUNITY COLLEGE SYSTEM
Auxiliary Budget By Fund
as of May 31, 2014
3110
Student Vending
Commission
3111
Student Activity Fee
3112
Student Athletic Fee
Subtotal Grand Total
Committed Fund Balance at 8/31/13 291,716$ 841,357$ 679,397$ 1,812,469$ 9,026,196$
FY2013
Revenue 122,087 1,077,370 864,016 2,063,473 13,952,863
Salaries 10,200 39,650 145,642 195,492 5,392,923
Benefits 373 31,498 31,871 1,039,943
Supplies Gen Exp 76,471 454,628 57,439 588,538 717,879
Travel 877 78,535 31,235 110,646 164,213
Marketing Costs - 29,588
Rental & Leases 12,090 12,090 47,040
Contract Services 2,616 96,953 125,111 224,680 1,301,584
Utilities - 330,239
Departmental
Expenses
18,462 33,189 35,440 87,091 3,927,917
Instructional &
Other Materials
- 193,934
Maintenance &
Repair
10 10 10,668
Insurance - Risk
Mgmt
1,967 1,729 3,696 3,854
Exemptions and
Waivers
15,434 312 15,746 17,811
Transfer - 4,101,005
Capital Outlay - 19,222
Total Expense 108,626 720,730 440,506 1,269,861 17,297,819
Contribution to Fund Balance 13,462 356,640 423,510 793,612 (3,344,956)
305,177$ 1,197,997$ 1,102,907$ 2,606,081$ 5,681,240$
1
Funds are committed for services related to students
5
Student Auxiliary Funds - Committed1
Net Committed Fund Balance
as of 03/31/12
10. CURRENT &
LOAN FUNDS
1
PLANT & BOND
FUNDS
2
Total All Funds
ASSETS
Current Assets:
Cash & cash equivalents 130,926,582$ 26,909,373$ 157,835,956$
Restricted cash & cash equivalents 13,183,685 - 13,183,685
Short term Investments - - -
Accounts/Other receivable (net) 19,547,088 1,742,556 21,289,644
Deferred charges 742,835 - 742,835
Prepaids 74,846 881,112 955,958
Total Current Assets 164,475,037 29,533,042 194,008,079
Non-current Assets:
Restricted cash & cash equivalents - 380,333,320 380,333,320
Restricted long-term investments - 54,924,281 54,924,281
Long-term investments 8,227,224 - 8,227,224
Capital Assets, net - 832,717,635 832,717,635
Total Non-current Assets 8,227,224 1,267,975,237 1,276,202,461
Total Assets 172,702,261$ 1,297,508,278$ 1,470,210,539$
LIABILITIES
Current Liabilities:
Accounts payable 3,244,158 13,081 3,257,239
Accrued liabilities 700,859 24,649 725,508
Compensated absences 2,261,499 - 2,261,499
Funds held for others 790,893 189,209 980,102
Deferred revenue 4,846,496 300,071 5,146,567
Notes payable-current portion - - -
Bonds payable-current portion - - -
Capital lease obligations-current - - -
Total Current Liabilities 11,843,904 527,010 12,370,915
Non-current Liabilities:
Deposits - - -
Notes payable - 169,521,888 169,521,888
Bonds payable - 766,123,043 766,123,043
Capital lease obligations - 102,195,726 102,195,726
Total Non-current Liabilities - 1,037,840,657 1,037,840,657
Total Liabilities 11,843,904$ 1,038,367,667$ 1,050,211,571$
Fund Balance-
August 31, 2013 Audited 108,357,470 237,031,590 345,389,060
Revenues Over Expenditures
Unrestricted 49,091,556 49,091,556
Restricted 3,409,330 3,409,330
Net Investment in Plant 22,109,023 22,109,023
Total Fund Balances, Unaudited 160,858,356$ 259,140,613$ 419,998,969$
Total Liabilities & Fund Balances 172,702,260$ 1,297,508,280$ 1,470,210,539$
1
I ncludes Unrestricted, Restricted, Loan & Endowment, Scholarship, Agency and Auxiliary Funds.
2
Includes Unexpended Plant, Retirement of Debt and Investment in Plant Funds.
Houston Community College
Balance Sheet By Fund
For Month Ended May 31, 2014
6
11. as of May 31, 2014
TM CENTRAL
NORTH
WEST
NORTH
EAST
SOUTH
WEST
SOUTH EAST COLEMAN
EXTENDED
LEARNING
SYSTEM Grand Total
Salaries 23,994,401$ 24,768,980$ 18,981,027$ 26,685,858$ 15,383,043$ 11,220,665$ 10,513,874$ 42,453,615$ 174,001,463$
Employee Benefits - - - - - - - 18,152,880 18,152,880
Supplies & Gen 365,737 446,505 232,887 330,509 261,967 340,416 186,109 4,056,236 6,220,367
Travel 125,664 146,238 32,324 72,703 51,522 141,117 69,540 632,064 1,271,172
Marketing Costs 37,839 43,915 62,649 35,139 91,469 43,323 163,836 808,612 1,286,782
Rentals & Leases 7,477 143,330 967,164 534,591 80,752 469,051 26,373 770,843 2,999,581
Insurance/Risk Mgmt 906 406 50 462 - - - 7,050,874 7,052,698
Contracted Services 319,082 307,377 84,774 58,902 119,639 306,024 21,192 25,732,235 26,949,225
Utilities 5,025 68 4,600 1,590 - - - 11,357,922 11,369,205
Other Departmental Expenses 86,576 60,300 40,073 42,086 57,138 113,015 34,617 2,075,771 2,509,576
Instructional and Other Materials 481,425 250,953 152,409 248,964 173,417 394,440 483,297 8,453,544 10,638,448
Maintenance and Repair 190,543 49,741 37,862 58,457 42,072 90,776 116,953 1,281,355 1,867,759
Transfers/Debt - 860,561 5,637,942 1,200,000 - - - 23,048,863 30,747,366
Budget Commitments/Priority Funding 7,199 8,065 35,850 35,452 24,092 13,177 - 1,609,247 1,733,082
Capital Outlay 488,437 836,132 67,646 307,544 127,452 522,090 157,995 8,796,613 11,303,910
Grand Total 26,110,311$ 27,922,572$ 26,337,257$ 29,612,257$ 16,412,563$ 13,654,094$ 11,773,786$ 156,280,674$ 308,103,514$
HOUSTON COMMUNITY COLLEGE
FY 2013-14 Adjusted Budget by Colleges
7
12. FY 2012-13 FY 2013-14
Budget:
Adjusted Budget FY 2013-14, Net 41,453,277$
Revenues Received:
Tuition 46,926,645 46,291,291 45,613,287
Waivers & Exemptions:
Dual Credit (4,877,897) (4,726,200) (4,852,869)
Other (1,985,247) (1,925,429) (2,058,637)
Total Waivers & Exemptions (6,863,144) (6,651,629) (6,911,506)
Total Tuition Revenue, Net 40,063,501$ 39,639,662$ 38,701,781$
Budget:
Budget FY 2013-14, Net 6,565,665$
Revenues Received:
Tuition 8,677,989 7,768,165 7,758,393
Waivers & Exemptions:
Corrections (2,277,402) (1,890,966) (1,667,461)
Total EL Tuition Revenue, Net 6,400,587$ 5,877,199$ 6,090,932$
FY 2012-13 FY 2013-14
Dept of Corrections 2,277,402$ 1,890,966$ 1,667,461$ -11.82%
Dual Credit Waiver 4,877,897 4,726,200 4,852,869 2.68%
Other:
Employee Fee Exemptions 70,071 67,293 66,565 -1.08%
Firemen 25,475 25,382 22,833 -10.04%
Hazelwood 1,266,190 1,228,103 1,395,965 13.67%
Deaf & Blind 258,017 255,379 202,261 -20.80%
High Ranking Hi SCH Grad 2,418 2,418 1,240 -48.72%
Child of Disabled Vet ETC 1,686 3,519 285 -91.90%
Emp of State Coll & Univ 319 319 - 0.00%
Nonres Teach/Research Asst 10,443 10,443 6,638 -36.44%
Nonres Competitive Scholar 2,301 2,301 11,346 393.09%
Senior Citizens 15,857 15,090 15,625 3.55%
Misc Tuition/Fees Waivers - - 6,576 0.00%
Scholarship Distribution - - 10,000 0.00%
Apprenticeship Waivers - (38) - -100.00%
Refugee Waiver - (162) 183 -212.96%
Foster Children-Resident 304,145 300,257 296,404 -1.28%
Undocumented Students - - 11,383 0.00%
TX Tomorrow Waiver - - 2,558 0.00%
Surviving Spouse/Children - - 2,120 0.00%
Peace Officer Exemption 14,275 14,275 3,656 -74.39%
Stipends 14,050 850 3,000 0.00%
Total Other Exemptions 1,985,247 1,925,429 2,058,637 6.92%
Grand Total Exemptions & Waivers 9,140,546$ 8,542,595$ 8,578,967$ 0.43%
8
Exemptions & Waivers
Thur May 31, 2014
Account
End of Year
Activity
Year-to-Date
Activity thru
05/31/2013
Year-to-Date
Activity thru
05/31/2014
Tuition
Tuition - Extended Learning
Exemptions & Waivers
End of Year
Activity
Year-to-Date
Activity thru
05/31/2013
Year-to-Date
Activity thru
05/31/2014
Actuals %
Inc/(Dec)YTD
vs. PriorYTD