Measures to Improve State Guaranteed Benefit Package in Kazakhstan
The Ministry of Healthcare of the Republic of Kazakhstan focuses on enhancing the list of state guaranteed medical benefits, with a shift towards disease prevention and universal health coverage. Demographic trends show an increase in life expectancy and a rise in chronic non-infectious diseases. However, insufficient funding leads to high out-of-pocket health expenditures, impacting citizens' financial well-being. The government aims to address this gap to provide better health services to the population.
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Operating Budget Mid-Year Update July 1, 2024 to June 30, 2025 Presented to the Seattle Colleges Board of Trustees February, 2025 Presented by: Dr. Rosie Rimando-Chareunsap, Chancellor Dr. Rachel Solemsaas, North President
Collective Impact Special thanks to our finance and budget team Davina Fogg Lela Cross Lincoln Ferris Angela Gurney Kristen Burton Johnny Woods Jr. Hip Nguyen Andy Buchanan Lolita Khacahaturova Deidre Howard George Ray Kelly Paustain Angel Nelson-jeffrey Heather Emlund
Reflecting on our path so far November 2022: Big swings between projections and actuals exposed the need to strengthen our finance infrastructure 2023: Focus on rehiring depleted Finance workforce (CFO, college budget directors, accounting, finance, etc.) 2024: Refining practices, diagnosing weaknesses in our systems, strengthening models (enrollment, revenue and mid-year reporting)
Interim Path Towards Financial Stability develop trust and confidence trust and confidence across our community. Actions Actions the Seattle Colleges will take to establish financial stability establish financial stability and Laser focus on filling vacancies with strong talent. Followed up by consistent training and support. Stabilize Budget & Finance Workforce Revise or develop clear and regular reports for Board of Trustees, Cabinet teams, and general SC community Transparency Around Our Numbers Regular budget training and supports for managers, college-based support for district-wide systems and practices Budget Support for Managers
Continuing Path to Financial Stability & Sustainability Adopt Clear Fiscal Goals o Live within our Means (operating budget and self-support budgets) o Maintain prudent level of reserves o Invest in the Future Strengthen Budget Controls o Assure Data accuracy & integrity o Review budget roles and provide training
Board Directives Maintain Prudent Level of Reserves Live within our Means Invest in the Future Approved a balanced spending plans for all funds Monitor spending plan through periodic budget versus actual reports to update budget assumptions Set up contingency, operating, & capital reserves Approved reserve plans, including ways to replenish fund if funds are used or targets are not met Support for foundation workplans Support for grants and partnerships
Budget 101 82% Personnel Costs FY 25 Budget: Source of Operating Funds 1% 2%1% 7% 15% 6% State Allocation Personnel Tuition 19% Non-Personnel International International Program Running Start Running Start F&A (Indirect) 67% 82% o 67% State Allocation FY 25 Budget: Uses of Funds (Expenditures)
2014 19,263 -30.17% 2018 17,599 -8.64% 2019 16,545 -5.99% 2020 15,525 -6.17% 2021 13,511 -12.97% 2022 12,075 -10.63% 2023 12,442 3.04% 2024 Enrollment Trends FTEs % Change (14vs24) 13,452 8.12% Headcounts 45,965 44,824 42,805 40,137 31,813 28,971 30,763 32,800 % Change (14vs24) -43.20% -7.51% -2.95% 11.89% 14.91% 6.57% 6.37% 9.46% 'Headcounts' 'FTEs' 50 Thousands 45 25 40 Thousands Headcounts 35 30 20 25 20 15 15 FTEs 10 5 10 - 5 - Field1 Field1
Budget Developments Since Nov 2024 Factors to consider o FY 24 Deficit means FY 25 Modifications (reductions) o State OFM error impact to FY 25 and FY 26 o State's looming deficit o Fiscal impact of AFT Faculty and AFT Pro negotiations Credibility of Data o Detailed analysis of State Allocation (with crosstab to dept expenditure budget) o Tuition Revenue modeling and projections (historical trend analysis and FTE projections) o Accounting for Interfund Transfers, including International Program overhead costs o Fund (cash) balance analysis by department o Position Control systems
FY 24 Recap Seattle Colleges District closed the FY 24 with a net deficit of $12.5 16M or 8% of total expenditures. Remedies: Update FY25 budget assumptions Strengthen budgetary controls and reporting Strengthen tuition revenue projections based on SEM approaches Use cash reserves to cover deficit The deficit resulted from: Overestimated tuition revenues Implementation of post pandemic staffing plans Increased expenditures in personnel (salary increases), utilities, etc.
Fund/Dept#/Dept Fund/Dept#/Dept Description Description 2022 2022 2023 2023 2024 2024 2025 2025 CASH RESERVE CASH RESERVE Beginning Balances Beginning Balances 97,570,190.96 97,570,190.96 102,863,761.63 102,863,761.63 101,286,895.99 101,286,895.99 85,708,151.23 85,708,151.23 Difference Difference Increase (Decrease) (Decrease) Increase 5,293,570.67 (1,576,865.64)(15,578,744.76) 5.43% -1.53% -15.38%
SCD Fund Balance includes dedicated and unrestricted. E.g. Student Activity Fees, Lab Fees, etc. Unrestricted amounts help to cover board- mandated reserves, self- support funds reserves, contingencies, and Investments in capital, technology, or equipment replacements. CASH RESERVE FY 25 Beginning Balances 33,382,782.98 , 39% 52,325,368.25 , 61% Dedicated Unrestricted
FY 25 Modified Budget Status FY 25 Projected Budget Deficit is projected at $30M. This includes FY 24 deficits plus OFM error Plans to mitigate this includes o Freeze savings estimated at $9.1M o Redirecting personnel costs to other funds o Use of Fund (Cash) Balance $21M
Overview of OFM Error TOTALS CENTRAL NORTH $(834,382) SOUTH $(2,765,675) $(1,045,469) $(885,824) OFM overfunded SBCTC by $47M in the 2023-25 biennium. Although $19M in FY 24 is not requested, OFM requested the return of $28M for FY 25. OFM will make the necessary corrections to reduce the system carryforward budget for the 2025-27 biennium. This error resulted from OFM accounting for the I-732 COLAs both at the base and maintenance level. (Double counted) SBCTC requested a supplemental budget request for FY 25 to restore the $28M. SBCTC's legislative priority for the next biennium includes maintaining previously approved allocation that included this amount.
Seattle Colleges Unrestricted Cash Reserve Board of Trustee's Policy on Reserves: Seattle College District Policy #608 - District Reserve $33,382,783 Unrestricted Cash Reserve Balance 21,046,523 Less: FY 2025 Anticipated Deficits (net of vacancy savings) $12,336,260 Cash Reserve Balance net of Deficits Board Policy Reserve Requirement 6.2% of $198M 5-10% of aggregate total of annual expenditure budget One Month Reserve is $16.5M or 8%, Three Months $49.7M or 25%
FY 24-25 North - 7063 Modified Budget FY 25 Central - 7062 Modified Budget FY 25 South - 7064 Modified Budget FY 25 Siegel - 7060 Modified Budget FY 25 Sources of Funds (Revenues) State Allocation Tuition International Running Start F&A (Indirect) Transfer in (from Colleges) Total Estimated Source of Funds $32,887,176 11,296,079 2,259,774 3,387,149 140,000 $43,804,979 12,139,211 6,036,109 4,616,361 260,000 $35,566,264 9,412,332 1,030,404 3,665,541 503,902 $1,815,933 - - - 710,128 22,800,184 $25,326,245 - - - $49,970,178 $66,856,660 $50,178,443 Uses of Funds (Expenditures) Personnel Non-Personnel Transfer out (to District) International Program Running Start Total Budgeted Use of Funds 39,172,123 6,787,920 7,148,666 308,128 499,491 $53,916,329 59,328,257 7,861,939 8,315,177 150,903 149,245 $75,805,521 36,072,729 9,143,644 7,336,341 25,760 628,229 $53,206,703 29,026,990 6,852,057 3,703,574 - $39,582,621 Transfer in from Colleges Transfer out (to District) Net Transfers Source over Use of Funds: Surplus (Deficit) % of Deficit to Total Expenditures Freeze Savings Surplus (Deficit) net of freeze savings % of Deficit to Total Expenditures $(3,946,151) -7.32% 2,079,863 $(1,866,288) -3.46% $(8,948,861) -11.81% 2,010,502 $(6,938,359) -9.15% $(3,028,261) -5.69% 412,836 $(2,615,425) -4.92% $(14,256,376) -36.02% 4,629,925 $(9,626,451) -24.32%
FY 24-25 North - 7063 Modified Budget FY 25 Prior Yr Actuals FY24 Original Budget FY25 Budget Adjustments FY 25 Sources of Funds (Revenues) State Allocation Tuition International Running Start F&A (Indirect) Transfer in (from Colleges) Total Estimated Source of Funds $32,463,698 9,654,033 1,713,232 3,146,884 140,847 $31,708,461 13,545,181 1,667,926 2,180,272 67,112 $32,887,176 11,296,079 2,259,774 3,387,149 140,000 $1,178,715 (2,249,102) 591,848 1,206,877 72,888 - - - - $47,118,694 $49,168,952 $49,970,178 $801,226 Uses of Funds (Expenditures) Personnel Non-Personnel Transfer out (to District) International Program Running Start Total Budgeted Use of Funds Source over Use of Funds: Surplus (Deficit) % of Deficit to Total Expenditures Freeze Savings Surplus (Deficit) net of freeze savings % of Deficit to Total Expenditures 35,394,837 6,598,472 5,846,815 35,291,287 6,718,634 7,093,624 39,172,123 6,787,920 7,148,666 308,128 499,491 $53,916,329 $(3,946,151) -7.32% 2,079,863 $(1,866,288) -3.46% 3,880,836 69,286 55,042 308,128 499,491 $4,812,784 $(4,011,558) - - - - $47,840,124 $(721,430) $49,103,545 $65,407 2,079,863 $(1,931,695) $(721,430) -1.51% $65,407
North Seattle College (NSC) Cash Reserve Beginning Balance FY 2025 2022 2022 2023 2023 2024 2024 2025 2025 CASH RESERVE Balances CASH RESERVE Balances Difference Difference Increase Increase (Decrease) (Decrease) 30,069,659.39 30,069,659.39 29,377,583.46 29,377,583.46 28,229,207.43 28,229,207.43 29,000,092.24 29,000,092.24 35% Dedicated (692,075.93) (1,148,376.03) -2.30% 770,884.81 1.72% Unrestricted 65% -3.07% FY 24 FY 24 FY 25 FY 25 Dedicated Dedicated 20,546,273.69 20,546,273.69 Unrestricted Unrestricted 7,682,933.74 7,682,933.74 Total Total Dedicated Dedicated 18,979,525.85 18,979,525.85 (1,566,747.84) Unrestricted Unrestricted 10,020,566.39 10,020,566.39 2,337,632.65 30.43% Total Total Grand Total (Surplus)Deficit Grand Total (Surplus)Deficit Difference Difference Increase(Decrease) Increase(Decrease) 28,229,207.43 28,229,207.43 29,000,092.24 29,000,092.24 770,884.81 -7.63% 2.73%
Fund *** 145/146 State Funds (0xx,24J,561) Grants and Contracts Local Capital/Plant Account Dedicated Local Account Operating Fees Students' S&A Bookstore Parking Food Services Auxiliary Services Clearing Custodial Grants in Aid Student Loan Account Work Study Account 3.5% Needy Student Aid - 14,735,845.84 147 148 149 522 524 528 569 570 790 840 846 849 850 860 217,240.09 5,218,332.54 (5,043,215.49) 3,935,103.93 - (922,112.08) (56,718.68) 406,324.93 1,262,805.09 5,100.00 (380,898.75) (22,859.37) 115,335.96 (490,758.16) 18,979,525.85 North Total
Board of Trustee's Policy on Reserves: Seattle College District Policy #608 - District Reserve NSC Unrestricted Cash Reserve $10,020,566 Unrestricted Cash Reserve Balance 5,465,111 Board Policy Reserve Requirement (55%) 5-10% of aggregate total of annual expenditure budget (using 5% here) $4,555,455 Cash Reserve Balance less Dedicated Reserves and BOT Reserve 1,866,288 Less: FY 2025 Anticipated Deficits (net of vacancy savings) $2,689,167 Projected Ending Cash Reserve Balance FY 25
FY 24-25 Central - 7062 Modified Budget FY 25 Prior Yr Actuals FY24 Original Budget FY25 Budget Adjustments FY 25 Sources of Funds (Revenues) State Allocation Tuition International Running Start F&A (Indirect) Transfer in (from Colleges) Total Estimated Source of Funds $41,540,025 11,940,867 5,441,720 4,185,349 267,548 $42,868,546 13,121,445 5,587,758 4,539,518 157,000 $43,804,979 12,139,211 6,036,109 4,616,361 260,000 $936,433 (982,234) 448,351 76,843 103,000 - - - - $63,375,509 $66,274,267 $66,856,660 $582,393 Uses of Funds (Expenditures) Personnel Non-Personnel 53,613,073 8,093,441 50,594,027 6,846,117 59,328,257 7,861,939 8,734,230 1,015,822 Transfer out (to District) International Program Running Start Total Budgeted Use of Funds Source over Use of Funds: Surplus (Deficit) % of Deficit to Total Expenditures Freeze Savings Surplus (Deficit) net of freeze savings % of Deficit to Total Expenditures 8,244,435 8,244,435 8,315,177 150,903 149,245 $75,805,521 $(8,948,861) -11.81% 2,010,502 $(6,938,359) -9.15% 70,742 150,903 149,245 - - - - $69,950,949 $(6,575,441) $65,684,579 $589,688 $10,120,942 $(9,538,549) 2,010,502 $(7,528,047) $(6,575,441) -9.40% $589,688
Seattle Central College(SCC) Cash Reserve Beginning Balance FY 2025 0% 2022 2022 2023 2023 2024 2024 9,382,259.85 9,382,259.85 2025 2025 2,246,952.35 2,246,952.35 CASH RESERVE Balances CASH RESERVE Balances Difference Difference Increase Increase (Decrease) (Decrease) 18,333,632.28 18,333,632.28 13,311,612.80 13,311,612.80 Dedicated Unrestricted (5,022,019.48) -27.39% (3,929,352.95) -29.52% (7,135,307.50) -76.05% 100% FY 24 FY 24 FY 25 FY 25 Dedicated Dedicated 8,839,760.17 8,839,760.17 Unrestricted Unrestricted 542,499.68 542,499.68 Total Total 9,382,259.85 9,382,259.85 Dedicated Dedicated 2,246,952.35 2,246,952.35 Unrestricted Unrestricted Total Total CASH RESERVE Balances** CASH RESERVE Balances** Difference Difference Increase Increase (Decrease) (Decrease) - - 2,246,952.35 2,246,952.35 (6,592,807.82) -74.58% (542,499.68) -100.00% (7,135,307.50) -76.05%
Fund *** 145/146 147 148 149 448 460 522 524 528 569 570 573 790 846 849 850 860 State Funds (0xx,24J,561) Grants and Contracts Local Capital/Plant Account Dedicated Local Account Operating Fees Printing Motor Pool Students' S&A Bookstore Parking Food Services Auxiliary Services Housing/Food Services Clearing Grants in Aid Student Loan Account Work Study Account 3.5% Needy Student Aid - (1,883,921.29) 55,051.58 7,664,579.55 (15,486,813.62) (105,544.67) 2,985.06 2,250,645.72 59,397.52 2,508,070.93 (472,151.75) 9,147,899.95 (718,304.55) 326,547.59 (355,552.89) 150,274.82 51,202.41 (947,414.01) 2,246,952.35 Central Total
Board of Trustee's Policy on Reserves: Seattle College District Policy #608 - District Reserve SCC Unrestricted Cash Reserve $0 Unrestricted Cash Reserve Balance 6,938,359 Less: FY 2025 Anticipated Deficits (net of vacancy savings) ($6,938,359) Projected Ending Cash Reserve Balance FY 25
FY 24-25 South - 7064 Modified Budget FY 25 Prior Yr Actuals FY24 Original Budget FY25 Budget Adjustments FY 25 Sources of Funds (Revenues) State Allocation Tuition International Running Start F&A (Indirect) Transfer in (from Colleges) Total Estimated Source of Funds $35,337,201 8,512,741 1,360,006 3,362,373 496,581 $36,892,070 9,348,034 961,001 3,182,142 503,902 $35,566,264 9,412,332 1,030,404 3,665,541 503,902 $(1,325,807) 64,298 69,403 483,399 - - - - - $49,068,902 $50,887,149 $50,178,443 $(708,707) Uses of Funds (Expenditures) Personnel Non-Personnel Transfer out (to District) International Program Running Start Total Budgeted Use of Funds Source over Use of Funds: Surplus (Deficit) % of Deficit to Total Expenditures Freeze Savings Surplus (Deficit) net of freeze savings % of Deficit to Total Expenditures 32,600,234 10,503,453 6,468,075 37,292,164 6,322,009 7,272,976 36,072,729 9,143,644 7,336,341 25,760 628,229 $53,206,703 $(3,028,261) -5.69% 412,836 $(2,615,425) -4.92% (1,219,435) 2,821,635 63,365 25,760 628,229 $2,319,554 $(3,028,261) - - - - $49,571,762 $(502,860) $50,887,149 $- 412,836 $(2,615,425) $502,860 1.01% $-
South Seattle College (SSC) Cash Reserve Beginning Balance FY 2025 2022 2022 2023 2023 2024 2024 2025 2025 CASH RESERVE Balances CASH RESERVE Balances Difference Difference Increase Increase (Decrease) (Decrease) 22,720,167.05 22,720,167.05 25,949,494.19 25,949,494.19 27,428,450.67 27,428,450.67 26,080,819.81 26,080,819.81 29% Dedicated Unrestricted 3,229,327.14 14.21% 1,478,956.48 (1,347,630.86) 71% 5.70% -4.91% FY 24 FY 24 FY 25 FY 25 Dedicated Dedicated 22,837,629.49 22,837,629.49 Unrestricted Unrestricted 4,590,821.18 4,590,821.18 Total Total Dedicated Dedicated 18,546,699.73 18,546,699.73 Unrestricted Unrestricted 7,534,120.08 7,534,120.08 Total Total CASH RESERVE Balances** CASH RESERVE Balances** Difference Difference Increase Increase (Decrease) (Decrease) 27,428,450.67 27,428,450.67 26,080,819.81 26,080,819.81 (4,290,929.76) -18.79% 2,943,298.90 (1,347,630.86) 64.11% -4.91%
Fund *** 145/146 State Funds (0xx,24J,561) Grants and Contracts Local Capital/Plant Account Dedicated Local Account Operating Fees Printing Motor Pool Students' S&A Bookstore Parking Food Services Auxiliary Services Clearing - 3,966,891.48 147 148 149 448 460 522 524 528 569 570 790 1,181,265.21 3,513,344.42 3,960,159.01 (58,143.34) - 2,218,442.88 - South (95,602.62) - 796,790.17 1,550,027.87 - Grants in Aid Student Loan Account Work Study Account 3.5% Needy Student Aid 846 849 850 860 (643,044.21) 15,153.33 168,673.02 1,972,742.51 18,546,699.73 Total
Board of Trustee's Policy on Reserves: Seattle College District Policy #608 - District Reserve SSC Unrestricted Cash Reserve $7,534,120 Unrestricted Cash Reserve Balance 4,471,455 Board Policy Reserve Requirement (45%) 5-10% of aggregate total of annual expenditure budget (using 5% here) $3,062,665 Cash Reserve Balance less Dedicated Reserves and BOT Reserve 2,615,425 Less: FY 2025 Anticipated Deficits (net of vacancy savings) $447,240 Projected Ending Cash Reserve Balance FY 25
FY 24-25 Siegel/District- 7060 Original Budget FY25 Prior Yr Actuals FY24 Modified Budget FY 25 Budget Adjustments FY 25 Sources of Funds (Revenues) State Allocation Tuition International Running Start F&A (Indirect) Transfer in (from Colleges) Total Estimated Source of Funds $1,817,832 $1,876,078 $1,815,933 $(60,145) - - - - - - - - - - - - 710,128 20,559,325 $23,087,285 200,000 22,611,035 $24,687,113 710,128 22,800,184 $25,326,245 510,128 189,149 $639,132 Uses of Funds (Expenditures) Personnel Non-Personnel Transfer out (to District) International Program Running Start Total Budgeted Use of Funds Source over Use of Funds: Surplus (Deficit) % of Deficit to Total Expenditures Freeze Savings Surplus (Deficit) net of freeze savings % of Deficit to Total Expenditures 20,345,238 7,517,328 24,842,806 5,656,164 29,026,990 6,852,057 4,184,184 1,195,893 - - - - - 3,505,921 3,703,574 3,703,574 - - - $31,368,487 $(8,281,202) $30,498,970 $(5,811,857) $39,582,621 $(14,256,376) -36.02% 4,629,925 $(9,626,451) -24.32% $9,083,651 $(8,444,519) 4,629,925 $(3,814,594) $(8,281,202) -26.40% $(5,811,857) -19.06%
Siegel Cash Reserve Beginning Balance FY 2025 2022 2022 2023 2023 2024 2024 2025 2025 CASH RESERVE Balances CASH RESERVE Balances 26,446,732.24 26,446,732.24 34,225,071.18 34,225,071.18 36,246,978.04 36,246,978.04 28,380,286.83 28,380,286.83 Dedicated 44% Difference Difference Increase(Decrease) Increase(Decrease) 7,778,338.94 2,021,906.86 (7,866,691.21) Unrestricted 56% 29.41% 5.91% -21.70% FY 24 FY 24 FY 25 FY 25 Dedicated Dedicated Unrestricted Unrestricted Total Total Dedicated Dedicated Unrestricted Unrestricted Total Total CASH RESERVE Balances CASH RESERVE Balances 17,113,142.57 17,113,142.57 19,133,835.47 19,133,835.47 36,246,978.04 36,246,978.04 12,552,190.32 12,552,190.32 15,828,096.51 15,828,096.51 28,380,286.83 28,380,286.83 Difference Difference Increase(Decrease) Increase(Decrease) (4,560,952.25) (3,305,738.96) (7,866,691.21) -26.65% -17.28% -21.70%
Fund Grants and Contracts Dedicated Local Account Students' S&A Parking Auxiliary Services Clearing Grants in Aid 145/146 13,201,238.70 148 522 528 570 790 846 (212,964.19) (2,200.00) (134,047.36) (296,596.18) (3,740.65) 500.00 12,552,190.32 Siegel/District Total
Board of Trustee's Policy on Reserves: Seattle College District Policy #608 - District Reserve Siegel/District Unrestricted Cash Reserve $15,828,097 Unrestricted Cash Reserve Balance 9,626,451 Less: FY 2025 Anticipated Deficits (net of vacancy savings) $6,201,646 Projected Ending Cash Reserve Balance FY 25 * *to assist in SCC's Cash Reserve Deficit
FY 26 & Beyond New Considerations: State Budget Deficit CBA commitment Replenish Fund (Cash) Balance
State Budget Deficit for FY 26-27 Item Amount (in Millions) June 2027 Ending Fund Balance (cumulative) Original Projected FY 27 Ending Fund Balance +$100 +$100 Change to Revenue Forecast, November 2024 ($700) ($600) 2025-27 Collective Bargaining Costs ($4,000) ($4,600) 2025-27 Maintenance Level Requests from Agencies ($5,000) to ($10,000) ($9,600) to ($14,600) 2025-27 Estimated Caseload Forecast Cost Increase ($1,000) ($10,600) to ($15,600) Governor Inslee announced $10B to $12B. SBCTC shared above where deficits could be as high as $15.6B
SCD Share of State Budget Deficit Estimated share of CTC share of State General Fund is 3.33% A billion reduction = $33.3 M for SBCTC SCD share = $3.3M or about 10% TOTALS CENTRAL NORTH SOUTH $(3,300,000) $(1,122,000) $(957,000) $(1,122,000)
Budget Status FY 26 & Beyond North Central South Siegel/District Total FY 25 Anticipated Deficit (3,946,151) (8,948,861) (3,028,261) (14,256,376) (30,179,649) FY 26 State Allocation $1B Deficit (792,000) (1,003,200) (844,800) (660,000) (3,300,000) Anticipated CBA fiscal impact International Revenue Adj (683,280) (1,821,616) (442,002) (983,360) (3,930,258) District Transfer Adj (232,498) (1,703,418) 264,777 1,671,139 - New CTCLink Fee FY 26 tuition revenues rate @3.3% 436,109 571,822 367,358 401,529 1,776,818 FY 26 tuition revenues FTEs @4% 528,617 693,117 445,282 486,701 2,153,718 Net Anticipated Deficit (4,689,203) (12,212,156) (3,237,645) (13,340,367) (33,479,371) -8.70% -16.11% -6.09% -33.70% -16.76%
Perfect Storm Pandemic + Great Resignation + CTCLink Conversion ThePhoto by PhotoAuthor is licensed under CCYYSA.
Riding the Wave of the Storm Right sizing our operating budgets starting on FY 26 Adopt sustainable fiscal policies o Operating Budget with two sources (state allocation, state tuition) o Move IP, RS & Fed Indirect as self-support programs to replenish fund balance o Self-support programs as self-sustaining operations (limit subsidies) o Increase Fund Balance reserves and set up operating budget with contingency (up to 3%) o Maximize space utilization, monetized assets Continuity of operations with staff development & training (success by succession) ThePhoto by PhotoAuthor is licensed under CCYYSA.
Strategies to Explore: Right Sizing Increasing Revenues Reducing Expenditures Strengthening Budget Systems Explore CTCLink based fees and other lab fees Expand partnerships Monetized Assets Review cost reimbursables Staffing plan review Program & Services review Reduce Operating cost, including maximizing use of facility spaces Set up check n balances and audit trail to financial reporting Predictable monitoring of budget versus actual reports for all funds Financial Modeling for tuition and costs Predictable model to cover Core District services Se policy reserves for contingency, capital and contingency
Sense of urgency: timelines FY 25 Modified Budget to BOT February 2025 o Campus(es) Feedback late Nov to 1st week of Jan Cash Balance Status Report to BOT February 2025 o Campus(es) Feedback Jan 2025 FY 25 Budget vs Actual (with budget modifications) Feb/Mar/Jun 2025 FY 26 Budget proposal & Fund Balance Plan May 2025 (include FY 27 forecast) o Reduction Proposal Jan to Feb 2025 o Campus(es) Feedback Mar to Apr 2025 o Board approval May 2025 o Implementation by July 1, 2025
