Collin College LVN Program Information - COVID Vaccination Requirement

Nursing, LVN Program, Clinical Rotations, Vocational Nursing

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1. Budget Cuts and Revised Rate Review FY 2024-2025 Budget

2. Budget Workshops Schedule and Topics March 2024 5 Year CIP April 2024 - Overall Financial Plan, Polices, & Actions May 2024 FY25 Budget and Rates Review Option 1 4.5% & 4.5% (7/1/24 & 1/1/25) + 3.6% (MWD 1/1/25) Option 2 6.5% (7/1/24) + 3.6% (MWD 1/1/25) Board Direction Option 2 but with reductions to be brought back Today s Meeting - Review proposed budget cuts and revised rates June 2024 FY25 Budget and Rates Adoption Cash Reserve Policy

3. Budget Reductions & Revised Rates Difference (Savings) Budget Cut Item Department Type From To Sewer Savings Water Savings Notes Previously planned additional $428k contribution reduced to $203k. Will reevaluate higher contributions in future years to accelerate debt payment if funding available. Future savings reduced from $3.3M to $1.4M and 10 year repayment to 13 years. CalPERS Liability (UAL)Payment Finance Operating $1,250,000 $1,025,000 $225,000 $42,750 $182,250 Planning costs/studies for new HQ eliminated from FY25 New District HQ/Rehabilitation Administration Capital $600,000 $500,000 $100,000 $0 $100,000 Document Scanning Project HR Operating $34,968 $0 $34,968 $6,644 $28,324 Deferred. Will reevaluate in FY26 Software integration IT Operating $50,000 $0 $50,000 $9,500 $40,500 Deferred. Will reevaluate in FY26 Ops Interns (2) Operations Operating $49,388 $0 $49,388 $0 $49,388 Deferred. Will reevaluate in FY26 Masterplan Engineering Capital $350,000 $100,000 $250,000 $0 $250,000 Implementation Delayed and Cost Shifted to FY26 Engineer (1 FTE) Engineering Operating $221,980 $0 $221,980 $42,176 $179,804 Deferred. Will reevaluate in FY26 Total $931,336 $101,070 $830,266 Previous Rate Increase Necessary on July 1, 2024 6.5% Reduction in Rate Increase due to Budget Cuts -2.0% Revised Proposed Rate Increase on July 1, 2024* 4.5% * + MWD pass-through rate of 3.6% on 1/1/25

4. Recommendation That the Board direct staff to bring back the FY2024-25 draft budget and rate actions in June 2024 for final adoption that reflect the proposed budget cuts in Exhibit A and a 4.5% water rate increase on July 1, 2024