Transcript Kentucky Board of Emergency Medical Services

BUDGET UPDATE FY14
and
BUDGET PLANNING FY15
BUDGET
Basic Principles for Budget Planning and Development (not Prioritized)
Meets Core Values/Goals
College is more important than any one individual
Student as center
Serve mission and goals of college, adjust goals as needed
Be truthful
Consider effects on community, meet partner expectations and commitments
Supported by Evidence/Data
Create a sense of urgency – internal and external
Provides Return on Investment - Tangible/Intangible
Gain efficiencies in operation
Realign personnel costs to a realistic level
Opportunity to realign to support future growth
Supports Faculty and Staff
Retain and reassign as possible, layoffs are last option
Consider climate/morale, mitigate and communicate
BUDGET
Priority Criteria for Ranking budget Request Items
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2008 (prioritized)
Improve student success
Positively impacts quality education
Supports operations/infrastructure
Promotes customer service
Support Community Needs
Security / Safety
Public Image
Supports accreditation
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2013-14
Academic programs – scheduling, support growth
(weekend, online), faculty ratio of full time and part
time, SACS issues, diversity
Operational funds – overhead and infrastructure,
Newtown Campus
Student access and services – recruitment,
outreach, promotion/image, inclusion, diversity,
retention and completion
Revenue generating programs, courses, and
services, new program development, new college
success course
Grant responsibilities
Safety/security
Economic development/workforce and business
services
BUDGET UPDATE FY14
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Tuition Revenue
Recurring and Non-recurring
Fund Balance
BUDGET PLANNING FY15
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Tuition Revenue
State Mandated 2.5% Budget Cut
Performance Based Funding
Expense Budgets
FY2014 BUDGET UPDATE
Budget Composition
State Appropriation
14.8%
Personnel
72.0%
Tuition & Fees
65.7%
Operating
12.9%
Other
19.5%
Utilities
2.2%
100%
Capital Expenses
2.9%
Waivers and Scholarships
3.3%
Unallocated Budget/Fund Balance
3.8%
Contingency Reserve
2.9%
100%
FY2014 BUDGET UPDATE
Revenue
• Tuition Revenue (as of 2/3/14)
• Fall - $935,732 or 5.3% short of budget
• Spring - $1,410,716 or 8.86% short of budget
• Spring 2 enrollments (March 13 last day to enter a class)
• Spring Dual Credit enrollments not final
• Summer - $1,912,737 or 60% short of budget
(usually we have earned 60% of budget & only need 40% )
• Projected FY14 revenue deficit of $2,500,000 - $3,000,000
FY2014 BUDGET UPDATE
Revenue
• Projected FY14 revenue deficit of $2,500,000 - $3,000,000
• Offsets (estimates):
• Salary Savings as of Jan14
• Bad Debt Expense – Decrease
• Over spend of Waiver Expense
$800,000
$500,000
($100,000)
FY2014 BUDGET UPDATE
Recurring vs Non-recurring
Recurring: happens or occurs again or repeatedly
Fund 01
Non-recurring: not occurring or happening again, pertaining to an income or
expense considered of a nature not likely to occur or happen again
Fund 05 – Fund Balance
FY2014 BUDGET UPDATE
Fund Balance
FY2013 Fund Balance = $15,750,000
FY14 Authorized to Spend:
Newtown North
-$1,000,000
NR SO Recharge
-$ 167,721
NR Approved 6/2013
-$ 241,593
NR Approved 9/2013
-$1,545,000
Recurring items funded NR
-$1,172,000
Fall 2013 under recognized tuition
-$1,000,000
Spring 2014 under recognized tuition
-$1,000,000
Summer 2014 under recognized tuition
-$ 500,000
FY14 Salary Savings
+$ 800,000
FY14 Underspend of Expense Budgets
FY14 Overspend of Expense Budgets
Estimated Fund Balance January 2014 = $9,923,686
FY2015 BUDGET PLANNING
Due May 9, 2014
Revenue Estimates: Recurring decrease needs to be budgeted
• Fall
• Spring
• Summer
State Mandated Budget Cut:
• Governor’s state budget includes a 2.5% cut for higher education
• If KCTCS distributes as they have previously, could be as low as 1.6%
• Since February 2008, BCTC has incurred recurring state mandated
budget cuts = $3,148,300 (all but $14,500 was Recurring)
FY2015 BUDGET PLANNING
Due May 9, 2014
Performance Based Funding:
• KCTCS Board of Regents has mandated
• Final process has yet to be determined
• Draft computations = $160,100
Expense Lines:
• Must add or adjust expense lines as necessary:
Blackboard
$210,000
Lumina Grant
$ 52,232
Waiver Expense $100,000
Newtown ?
Expenses cut in FY14 ?
BUDGET
How can we all help?
• Focus on our important work.
• Advocate – talk to legislators, students, friends, family
• Find ways to save or generate funds. Be creative and resourceful.
• Revenue generating programs – International Students
• Bad Debt Expense
• R2T4
• Contract re-negotiations
• Energy Savings from IT (sleep mode/shut down process)
• Spending “hard frost”