SOUTH ORANGE COUNTY COMMUNITY COLLEGE
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Transcript of SOUTH ORANGE COUNTY COMMUNITY COLLEGE
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SOUTH ORANGE COUNTY COMMUNITY COLLEGE
BUDGETS AND COMPENSATION
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The old system
• Program Based funding (5 elements)•PRIOR YEAR APPORTIONMENT (BASE
FUND)•COLA•PROGRAM IMPROVEMENT
(EQUALIZATION)•GROWTH / DECLINE / RESTORATION•STABILITY 1 YEAR BAILOUT FOR
DECLINING ENROLLMENT
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The new formula
• Program based funding is now a thing of the past.
• A new formula for funding community colleges was adopted by the passage of Senate Bill 361.
• The formula simplifies funding from a complicated five step process to a three step process.– Foundation amount– Credit FTES– Non credit FTES
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FOUNDATION (Step 1)
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CREDIT REVENUE (Step 2)
• EQUALIZATION = TARGET OF 90%• 90% =$ 3,955 PER FTES (05-06)• COLA OF 4.23 % =$ 4,123• MULTIPLY 2005-06 P-2 FTES BY
$4,123 AND YOU GET BASE CREDIT REVENUE
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NON CREDIT REVENUE (Step 3)
• NON CREDIT REVENUE IS APPROXIMATELY 60% OF CREDIT REVENUE
• $ 4,123 TIMES 60% = $ 2,479
• MULTIPLY NON CREDIT FTES BY $ 2,479 AND THAT EQUALS INCOME
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ProgramBased Funding
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SB 361
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SB 361
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PBF versus SB 361
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2006-07COLA OF 5.92%IS APPLIED TO ALL BASES
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AFTER COLA IS APPLIED
• GROWTH FOR 06-07 IS CALCULATED AT 4,367 PER CREDIT FTES WHICH INCLUDES NEW 5.92 % COLA
• GROWTH FOR NON CREDIT IS 2,626• A DISTRICT WILL NOT GET GROWTH MONEY IF THEY
HAVE PRIOR YEAR(S) RESTORATION TO MAKE UP
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IF A DISTRICTRESTORES ALLLOST FTES FROM PRIORTHREE YEARSAND GROWS UP TO 2%
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As always Community College funding is from the same sources as in the past.• FEDERAL INCOME
• STATE INCOME
• LOCAL INCOME
• BEGINNING BALANCE
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BEGINNING BALANCESSTATEWIDE
0
100,000,000
200,000,000
300,000,000
400,000,000
500,000,000
600,000,000
700,000,000
800,000,000
1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07
The 72 Community College Districts are starting 2006-07 with three-quartersof a Billion dollars in beginning balances !!!!!!!!
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BEGINNING BALANCES BY DISTRICT
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BUDGET HISTORY SOUTH ORANGE
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Twenty year earnings
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