Transcript 3. Budget Workshop 6-14-2011

Budget Workshop
Board of Trustees Meeting
June 14, 2011
Agenda








Proposed FY 2012 budget
Status, timeline, and prognosis for outstanding
material and significant weaknesses cited in the
2010 audit
Status of the FY 2011 audit
Fiscal year 2011 budget variance report
OPEB Retirement Board update
FMCAT Self Assessment Check List
50% law exclusion for out-of-state and
international students
Application to the BOG to exclude Unrestricted
General Fund from 50% law calculation
Fiscal Year 2010-11 Variance Report
Peralta Colleges
Unrestricted General Fund Varience Report
For the Period Ending
May 31, 2011
Revenue
Federal Revenue
State Revenue
Local Revenue
Trans Res Revenue
App Budget
$
$
$
$
Revenue Total $
(71,676,646)
(39,868,499)
(9,600,000)
Actuals
% Used
$
$
$
$
(602)
(49,931,359)
(38,615,763)
-
NA
70%
97%
0%
(121,145,145) $
(88,547,122)
73%
$
$
$
$
$
$
$
$
$
$
13,490,475
3,485,636
4,052,081
13,986,165
17,383,432
30,870,637
10,304,865
111,877
7,772,836
-
81%
81%
80%
84%
83%
93%
65%
51%
87%
NA
121,832,745 $
101,458,005
83%
Expenses
Full Time Academic
Academic Admin
Other Faculty
Part Time Academic
Classified Salary
Fringe Benefits
Books, Supplies, Services
Equipment Cap Outlay
Debt Service Transfer
Financial Aid
$
$
$
$
$
$
$
$
$
$
Expense Total $
16,728,362
4,307,668
5,049,141
16,708,315
20,824,772
33,325,501
15,735,233
221,063
8,932,690
-
OPEB Retirement Board Update
First meeting under new structure on
April 13, 2011
 Regularly scheduled meetings on the
Wednesday following the first Board of
Trustee meeting of the month
 Approved bylaws
 Approved investment policy
 Reviewed new OPEB structure
 Monte Carlo simulations Simulation

OPEB Structure
Peralta CCD Board of
Trustees
•Appoints members of
Retirement Board
•Reviews and approves all
contracts and recommendations
from Retirement Board
Retirement Board
•Sets Retirement Board
Investment Policy
•Evaluates/Recommends to
BOT Underwriter, Counsel,
Investment Manager, and
Financial Advisor
•Reports to BOT no less than
quarterly
•Responsible for obtaining
Actuarial Study no less than
once every two years
Underwriter
•Provides market
advise and counsel
•Facilitates the
issuance/restructur
e of debt and
SWAP agreements
Legal Counsel
•Provides legal
advise and counsel
Neuberger Berman Investment Manager
•Provides investment
advise and counsel
•Invests plan assets in
accordance with
Retirement Board
Investment Policy
KNN Investment
Advisor
•Provides general
advise and
counsel on entire
OPEB program
Cash Flow Structure