Annual Budget for the Fiscal Year Ended June 30, 2006

Transcription

1 Annual Budget for the Fiscal Year Ended June 30, 2006 Board of Trustees Community College District No th Avenue Moline, Illinois

2 (ii)

3 (iii)

4 BLACK HAWK COLLEGE FISCAL YEAR 2006 BUDGET TABLE OF CONTENTS Vision and Mission of the College... 1 Page President's Letter... 2 SECTION A - OPERATING BUDGET SUMMARIES Summary Statement of Revenues, Expenditures, and Transfers for Operating Funds... A-1 Comparative Operating Revenues by Sources... A-2 Budgeted Operating Revenues... A-2a Actual Midterm Enrollment... A-2b In-district Tuition Rates... A-2c Comparative Operating Expenditures by Object... A-3 Comparative Operating Expenditures by Program... A-4 Operating Funds Expenditure Object Totals by Program... A-5 SECTION B - PROPERTY TAXES Property Tax Extensions... B-1 District Property Valuation... B-1a Tax Rate History... B-1b Equalized Assessed Valuation by County... B-1c Equalized Assessed Valuation... B-1d (iv)

5 BLACK HAWK COLLEGE FISCAL YEAR 2006 BUDGET TABLE OF CONTENTS (continued) Page SECTION C - PERSONNEL STATISTICS Personnel Summary for Operating Funds... C-1 Comparative Staffing by Employee Classification for Operating Funds... C-1a Full-time Equivalent Employee by Reporting Classifications... C-2 Comparative Staffing by Program... C-2a SECTION D - SPECIAL FUNDS BUDGETS Summary Statement of Special Funds... D-1 Operations and Maintenance Fund, Restricted... D-2 Restricted Purposes Fund... D-3 Working Cash Fund... D-4 Audit Fund... D-5 Liability, Protection and Settlement Fund... D-6 Bond & Interest Fund... D-7 SECTION E - STATEMENT OF CASH FLOW Statement of Cash Flow for All Funds... E-1 SECTION F - GLOSSARY (v)

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7 Vision Statement Total accessibility, quality instructional programs, student-centered services, and strategic alliances position Black Hawk College as the preferred choice for education and training. Core Values APPRECIATION OF DIVERSITY CARING AND COMPASSION FAIRNESS HONESTY Mission Statement Goals INTEGRITY RESPECT RESPONSIBILITY BLACK HAWK COLLEGE PROVIDES THE ENVIRONMENT AND RESOURCES FOR INDIVIDUALS TO BECOME LIFELONG LEARNERS. WE CARRY OUT THIS MISSION BY: providing the best atmosphere for successful ACADEMIC STUDENT OUTCOMES. O u r students rank academically as well or b e t t e r than native students at Illinois four- y e a r u n i v e r s i t i e s. providing the best atmosphere for continued CAREER LEARNING. Our students will be the most sought after by business and industry. providing the local and global community with C O N T I N U I N G E D U C AT I O N A N D P E R S O N A L A N D P R O F E S S I O N A L D E V E L O P M E N T. O u r students will set the standard for personal enrichment. operating within the framework of our identified institutional CORE VALUES. Our administration, faculty, and staff will model these values in our interactions with students, each other, and all those with whom we come into contact. providing leadership in C O M M U N I T Y A N D E C O N O M I C D E V E L O P M E N T through training, partnerships, and services. O u r students and staff will set the standard for contributing to the growth and development of our c o m m u n i t i e s. Strategic Priorities Connecting with learners by providing dynamic educational programs and improving service and support in a cost-effective manner Connecting with community by building partnerships, increasing awareness by district residents, and providing world-class facilities Connecting internally by providing leadership development, building synergistic relationships, and employing technology to appropriately improve work processes 1

8 Office of the President th Avenue Moline, Illinois (309) FAX (309) June 23, 2005 To: From: Subject: Black Hawk College Board of Trustees Illinois Community College District #503 Keith Miller, Ph.D. Fiscal Year 2006 Budget Upon my recommendation, the Board adopted a deficit budget for Fiscal Year We have made great strides internally to reduce the deficit throughout the year from $1.6 million to under $1 million, but we will still conclude the year in a deficit situation. In addition to rising costs for utilities and contractual obligations, the primary factors that resulted in that deficit situation are as follows: Reduction Funding Source $400,000 Property Tax Relief Bill $180,000 Equity Tax Rate Reduction $388,000 Equalization Grant $129,000 Credit Hour Grant $193,000 Corporate Personal Property Replacement Tax Elimination Grant (since FY 2002) $400,000 Advanced Technology $300,000 Special Populations $153,000 Workforce Development $ 98,000 Education to Careers $ 90,000 Current Workforce Training $ 82,000 Welfare to Work $240,000 Various other grants It is extremely difficult and challenging in times such as this to focus on investment and the future as opposed to merely cutting and reducing. However, I feel strongly that we must do both; and I applaud the Board of Trustees for making difficult decisions that have moved and will move the College forward. Too often I have witnessed institutions that lose sight of the future impact of current decisions, and the Quad-Cities Campus: th Avenue Moline, Illinois (309) FAX (309) East Campus: 1501 State Highway 78 Kewanee, Illinois (309) FAX (309)

9 result can freeze the college in place creating a more difficult recovery process. Over the past five years we have made personnel changes in terms of reductions and as a way to focus our human resources on priority areas throughout the District. In addition, we have made strides in terms of process efficiencies. Once again, all of these changes have been made while attempting to balance reducing expenditures with focusing on revenue and growth. There are areas in which I hoped we would be further along, but it is an absolute that these pursuits must not only continue, but intensify as well. Staff, faculty, and administration truly deserve praise for continuing to provide top-notch service to our students and communities in light of reductions and personnel changes. The Fiscal Year 2006 budget is also a deficit budget; however, it is a much smaller deficit. This reduction is due to internal changes that will be made throughout the year and the Board s willingness to sell bonds so some capital expenditures can be moved out of the general fund. The sale of bonds for this specific situation is a short-term measure that allows the College to maintain an adequate level of service and gives the College time to consider other long-term solutions without having to immediately make dramatic reductions in services. Black Hawk College has been able to rely on the State as a source of funds; however, we can no longer rely on the State as a stable source of funding. Additionally, there are some funding sources, such as the equity tax, that have negatively impacted the College due to factors outside of our control (i.e., the impact of PTELL [tax cap] districts throughout the State). I commend the Board for its interest in considering ways to secure more local control over funding. I appreciate and understand the complexity of this decision, and I appreciate the Board s willingness to consider the long-term strength and viability of the College as we all work to make Black Hawk College a preferred choice for education and training among District residents. Thank you for your commitment to Black Hawk College and the students and residents we serve. President, Black Hawk College 3

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11 Black Hawk College Fiscal Year 2006 Budget Summary Statement of Revenues, Expenditures, and Transfers for Operating Funds 2006 Changes from Approved Budget Approved 2006 Increase/(Decrease) Budget Budget Amount % EDUCATION FUND Revenue $ 25,892,215 $ 26,081,271 $ 189, % Expenditures 26,905,077 27,723, , % Excess (Deficiency) (1,012,862) (1,642,000) (629,138) 62.11% Transfers In 1,142,862 1,250, , % Transfers Out (130,000) (108,000) 22,000 (16.92)% Fund Balance - Beg. of Year 3,647,597 3,680,387 32, % Fund Balance - End of Year $ 3,647,597 $ 3,180,387 $ (467,210) (12.81)% OPERATIONS AND MAINTENANCE FUND Revenues $ 3,672,660 $ 3,735,827 $ 63, % Expenditures 3,622,660 3,735, , % Excess (Deficiency) 50,000 0 (50,000) (100.00)% Transfers Out (50,000) 0 50,000 (100.00)% Fund Balance - Beg. of Year 6,921 (18,843) (25,764) (372.26)% Fund Balance - End of Year $ 6,921 $ (18,843) $ (25,764) (372.26)% AUXILIARY ENTERPRISES FUND Revenues $ 3,842,404 $ 3,890,210 $ 47, % Expenditures 3,842,404 3,890,210 47, % Excess (Deficiency) % Fund Balance - Beg. of Year (158,314) 19, ,750 (112.28)% Fund Balance - End of Year $ (158,314) $ 19,436 $ 177,750 (112.28)% TOTAL OPERATING FUNDS Revenues $ 33,407,279 $ 33,707,308 $ 300, % Expenditures 34,370,141 35,349, , % Excess (Deficiency) (962,862) (1,642,000) (679,138) 70.53% Transfers In 1,142,862 1,250, , % Transfers Out (180,000) (108,000) 72,000 (40.00)% Fund Balance - Beg. of Year 3,496,204 3,680, , % Fund Balance - End of Year $ 3,496,204 $ 3,180,980 $ (315,224) (9.02)% A-1

12 Black Hawk College Fiscal Year 2006 Budget Comparative Operating Revenues by Sources Education, Operations & Maintenance, & Auxiliary Enterprises Funds 2006 Changes from Approved Budget Approved 2006 Increase/(Decrease) Budget Budget Amount % LOCAL GOVERNMENT SOURCES Property Taxes-Current levy $ 7,786,252 $ 7,407,760 $ (378,492) (4.86)% Other Taxes 5,400 4,400 (1,000) (18.52)% Chargebacks 62,000 62, % Total Local Govt. Sources $ 7,853,652 $ 7,474,160 $ (379,492) (4.83)% STATE GOVERNMENT SOURCES ICCB Credit Hr. Grants $ 3,791,717 $ 3,949,508 $ 157, % ICCB Equalization 4,873,749 4,403,116 (470,633) (9.66)% Career and Technical Education 210, ,000 (30,000) (14.29)% Funding Formula Impact Grant 379, ,363 (268,155) (70.66)% Corp. Pers. Prop. Tax Replace. 845,000 1,000, , % Other State Govt. Sources 30,000 30, % Total State Govt. Sources $ 10,129,984 $ 9,673,987 $ (455,997) (4.50)% FEDERAL GOVERNMENT SOURCES $ 50,000 $ 50,000 $ % STUDENT TUITION & FEES Tuition (net refunds) $ 8,961,157 $ 9,841,757 $ 880, % Lab Fees 552, , , % Instructional Materials Fee 250, , % Auxiliary Fees 250, ,000 10, % Other Fees 174, ,000 (35,500) (20.34)% TOTAL Student Tuition & Fees $ 10,188,207 $ 11,311,307 $ 1,123, % REVENUE GROWTH & CONTINGENCY* $ 900,000 $ 900,000 $ % SALES AND SERVICES $ 3,952,676 $ 3,963,694 $ 11, % INVESTMENT INCOME $ 80,000 $ 80,000 $ % OTHER SOURCES $ 252,760 $ 254,160 $ 1, % TOTAL OPERATING REVENUE $ 33,407,279 $ 33,707,308 $ 300, % * Offset fully by revenue growth expenditure contingency. A-2

13 Budgeted Operating Revenues Fiscal Year % 0.2% 2.7% 23.5% 30.5% 0.1% 0.8% 30.3% 11.8% Fiscal Year % 2.7% 22.2% 0.1% 33.6% 0.8% 28.7% Contingency Local Government Federal Government State Government Other Student Tuition and Fees Sales and Service Investment A-2a

14 Actual Midterm Enrollment in Reimbursable Credit Hours Credit Hours in Thousands A-2b

15 In-District Tuition Rates $70 Tuition per In-District Credit Hour $60 $50 $40 $30 $20 $10 $ A-2c

16 Black Hawk College Fiscal Year 2006 Budget Comparative Operating Expenditures by Object Education, Operations & Maintenance, & Auxiliary Enterprises Funds 2006 Changes from Approved Budget Approved 2006 Increase/(Decrease) Budget Budget Amount % OBJECT Salaries $20,293,420 $20,439,784 $146, % Employee Benefits 3,104,447 3,297, , % Contractual Services 1,491,854 1,801, , % Supplies & Materials 4,050,266 4,152, , % Conference and Meetings 383, ,970 5, % Fixed Charges 269, ,349 26, % Utilities 1,100,052 1,109,432 9, % Capital Outlay 276, ,671 51, % Other Expenditures 2,183,918 2,491, , % Contingency 1,216,200 1,044,200 (172,000) % TOTAL Operating Expenditures $34,370,141 $35,349,308 $979, % Budgeted Expenditures by Object 1% 12% 3% 1% Fiscal Year % 6% 1% 3% 1% 12% 1% Fiscal Year % 4% 4% 9% 59% 5% 3% 9% 58% Salaries Contingency Conference & Meeting Fixed Charges Capital Outlay Employee Benefits Contractual Services Utilities Supplies & Materials Other A-3

17 Black Hawk College Fiscal Year 2006 Budget Comparative Operating Expenditures by Program Education, Operations & Maintenance, & Auxiliary Enterprises Funds 2006 Changes from Approved Budget Approved 2006 Increase/(Decrease) Budget Budget Amount % PROGRAM Instruction $ 12,628,727 $ 13,092,131 $ 463, % Academic Support 2,716,409 3,033, , % Student Services 2,433,297 2,523,062 89, % Public Services 1,064,807 1,005,839 (58,968) -5.54% Independent Operations 3,622,660 3,890, , % Operations & Maint. Of Plant 3,842,404 3,735,827 (106,577) -2.77% Institutional Support 5,951,837 5,656,966 (294,871) -4.95% Scholarships, Grants, Waivers 2,110,000 2,412, , % TOTAL Operating Expenditures $ 34,370,141 $ 35,349,308 $ 979, % Budgeted Expenditures by Program Fiscal Year 2005 Fiscal Year % 3.1% 7.1% 7.9% 10.6% 2.8% 7.1% 8.6% 10.5% 6.1% 11.0% 6.8% 17.3% 16.0% 36.7% 37.0% Student Services Academic Support Scholarships, Grants, Waivers Institutional Support Instruction Independent Operations Operations & Maintenance Public Service A-4

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19 Black Hawk College Fiscal Year 2006 Operating Funds (Education, Operations and Maintenance, and Auxiliary Enterprises Funds) Expenditure Object Totals by Program EDUCATION FUND % Scholarships, Operations & Auxiliary Total Operating OBJECT ACCOUNTS Academic Student Public Institutional Student Grants Maintenance Enterprises Operating Funds Instruction Support Services Services Support & Waivers Total Fund Fund Funds Budget Salaries $ 10,289,353 $ 2,276,127 $ 1,809,515 $ 675,662 $ 3,249,683 $ 0 $ 18,300,340 $ 1,530,308 $ 609,136 $ 20,439, % Employee Benefits 1,446, , , , ,707 0 $ 2,854, , ,283 3,297, % Contractual Services 355,747 43,889 4,802 67, , ,279, , ,239 1,801, % Supplies & Materials 244, ,366 56,886 98, , ,528, ,447 2,345,479 4,152, % Conference & Meetings 31,072 38,645 40,942 45, , ,641 4,332 96, , % Fixed Charges 14, , , ,297 18, , % Utilities 0 1,480 2,190 9,600 27, ,727 1,063,805 4,900 1,109, % Capital Outlay , , ,000 31, , % Other Expenditures 310, ,000 0 (513,682) 2,412,000 2,489,018 (319,447) 322,047 2,491, % Contingency 400, , , , , ,479 1,044, % TOTALS $ 13,092,131 $ 3,033,273 $ 2,523,062 $ 1,005,839 $ 5,656,966 $ 2,412,000 $ 27,723,271 $ 3,735,827 $ 3,890,210 $ 35,349, % % of Total 37.04% 8.58% 7.14% 2.85% 16.00% 6.82% 78.43% 10.57% 11.01% % A-5

20 Black Hawk College Fiscal Year 2006 Budget Property Tax Extensions FY2006 FY2005 FY2004 FY2003 (Budget) (Estimate) (Actual) (Actual) Education Fund $ 3,571,439 $ 3,387,901 $ 3,444,543 $ 3,314,365 Operations and Maintenance Fund 2,083,340 1,976,275 2,009,317 1,933,380 Liability, Protection and Settlement Fund 2,100,000 2,106,145 1,992,094 1,894,712 Audit Fund 65,000 67,758 80,373 77,335 Protection, Health and Safety Fund 1,400,000 1,411,625 1,331,890 1,104,788 Equity Tax 1,752,981 1,662,895 1,877,276 1,814,615 Bond & Interest 1,700, , Totals $ 12,672,760 $ 11,352,291 $ 10,735,493 $ 10,139, Tax Rate Distribution Liability, Protection, Settlement 18.6% Audit 0.6% Protection, Health, Safety 12.4% Education 29.8% Bond & Interest 6.5% Equity 14.6% Operations & Maintenance 17.4% B-1

21 District Property Valuation 2005 Estimate by County Henderson 0.1% Stark 2.5% Whiteside 1.5% Bureau 0.6% 2004 Estimate by County Mercer 5.9% Knox 0.3% Henry 21.6% Marshall 0.0% Rock Island 67.5% B-1a

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23 Black Hawk College Tax Rate History $0.45 Cents per hundred dollars of EAV $0.40 $0.35 $0.30 $0.25 $0.20 $0.15 $0.10 $0.05 $ B-1a From 1983 through 2004 Education Operations & Maintenance Equity Bond & Interest Liability, Protection, Settlement Audit Protection, Health, Safety B-1b

24 Black Hawk College Fiscal Year 2005 Equalized Assessed Valuation by County % Rock Island Henry Mercer Bureau Knox Marshall Stark Whiteside Henderson Total Change ,069,112, ,912, ,211,438 14,383,917 12,090,501 46,077 61,196,047 33,769,934 1,429,859 1,692,152,512 (3.59)% ,052,392, ,326, ,072,286 13,963,500 11,044,363 41,972 59,492,647 30,980,232 1,303,271 1,664,617,457 (1.63)% ,011,734, ,424, ,171,339 12,401,892 10,103,776 39,469 54,702,553 28,296,927 1,157,788 1,593,032,963 (4.30)% ,592, ,643, ,680,808 12,265,001 9,637,118 39,342 49,900,756 27,273,167 1,157,380 1,498,188,674 (5.95)% ,209, ,263, ,052,736 14,294,486 9,315,843 39,400 47,719,236 23,782,386 1,172,127 1,421,849,165 (5.10)% ,263, ,667,457 99,912,093 13,266,891 9,007,831 35,802 43,869,540 22,686,565 1,105,297 1,326,815,190 (6.68)% ,834, ,459,092 95,764,092 12,682,803 8,347,433 33,204 40,703,659 22,250,530 1,061,409 1,305,136,849 (1.63)% ,697, ,381,279 92,214,490 11,683,657 7,746,783 30,865 38,531,478 21,870,048 1,012,103 1,305,168, % ,665, ,016,286 91,132,709 11,368,073 7,277,435 29,886 37,069,639 21,720, ,188 1,374,250, % ,022, ,745,614 90,721,711 12,268,951 7,616,515 32,814 40,223,279 23,632,405 1,037,215 1,457,301, % ,036,111, ,116,661 96,730,456 13,113,493 8,157,136 36,441 43,929,501 26,416,650 1,105,629 1,565,717, % ,135,129, ,580, ,355,988 13,881,806 8,718,611 40,111 48,084,986 28,752,587 1,197,157 1,708,740, % ,219,101, ,453, ,843,865 15,193,429 9,155,655 43,407 52,913,171 31,343,722 1,297,309 1,842,345, % ,301,011, ,058, ,424,955 15,713,091 9,091,868 46,172 62,706,922 34,018,794 1,316,123 1,978,388, % ,387,594, ,569, ,375,529 16,221,755 9,325,684 46,426 65,058,285 36,275,273 1,422,064 2,117,888, % ,462,666, ,010, ,408,886 17,838,081 10,095,855 49,916 70,419,447 38,803,446 1,591,853 2,256,883, % ,547,506, ,370, ,061,585 19,221,863 11,058,916 54,149 75,624,130 41,931,641 1,699,712 2,399,528, % ,624,734, ,018, ,322,399 19,845,855 11,304,796 56,428 79,088,565 42,319,118 1,665,418 2,520,355, % ,711,256, ,586, ,910,628 19,611,256 10,910,077 57,224 77,804,722 43,320,796 1,614,978 2,638,073, % ,819,179, ,494, ,145,006 18,975,734 10,490,372 55,830 75,288,279 44,809,730 1,532,501 2,761,970, % ,919,817, ,022, ,493,748 18,122,028 10,194,287 52,260 73,668,697 45,528,778 1,552,746 2,870,452, % ,905,916, ,064, ,299,733 16,740,468 9,388,247 47,920 70,593,579 43,739,646 1,460,129 2,823,250, % B-1c

25 $3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $0.0 Equalized Assessed Valuation Years 1983 through 2004 B-1d Property value in billions

26 Black Hawk College Fiscal Year 2006 Budget Operating Funds Personnel Summary FY2005 FY2005 FY2005 FY2006 FY2006 Approved Changes Adjusted Inc./(Dec.) Proposed Administrative Staff (1.00) 9.00 Managerial Staff Full-time Teaching Faculty (0.93) Professional Development Leave Librarians & Counselors Full-time Professional/Technical Staff (2.83) Part-time Professional/Technical Staff Full-time Office Staff (1.00) Part-time Office Staff Full-time Service Staff Part-time Service Staff (0.19) Other Staff (0.62) 5.78 Unidentified Reductions (5.00) (5.00) SUB-TOTAL FULL-TIME EQUIVALENTS (2.00) (2.69) Full-time Teaching Faculty Overload (3.79) Part-time Teaching Faculty Summer Teaching Contracts TOTAL FULL-TIME EQUIVALENTS (2.00) C-1

27 Comparative Staffing by Employee Classification Fiscal Year % 5.7% 2.6% 17.1% 0.1% 5.7% 9.3% 1.2% 1.7% 6.5% 2.8% 4.4% 1.8% 0.9% 14.9% Fiscal Year % 5.0% 3.0% 18.3% 0.1% 5.7% 9.0% 1.1% 7.4% 2.8% 4.4% 1.6% 1.0% 14.5% 1.7% Full-time Faculty Professional Development Professional Technical Part-time Faculty Administration Part-time Professional Tech. Faculty Overload Managerial Service Staff Summer Contracts Office Staff Part-time Service Staff Librarians/Counselors Part-time Office Staff Other C-1a

28 Black Hawk College Fiscal Year 2006 Budget Full-time Equivalent Employee by Reporting Classifications Manag- FT Profess. Faculty % of Admin. erial FT Faculty PT Summer Develop. Librar. Prof-Tech. Office Service Other College College Staff Staff Faculty Overload Faculty Contracts Leave & Couns. Staff Staff Staff Staff TOTAL Total Education Fund Instruction Transfer % Business Occupational % Health Occupational % Technical Occupation % Remedial % Adult Basic & Secondary % General Studies % Other (3.80) (6.80) (5.56) (16.16) (0.03) TOTAL Instruction % Academic Support % Student Services % Public Services % Institutional Support % Scholarships, Student Grants and Waivers % TOTAL Education Fund % Operations & Maintenance Fund % Auxiliary Enterprises Fund % SUB - TOTAL % Percentage of Sub - Total 1.64% 7.35% 24.56% 4.97% 18.33% 2.95% 0.09% 1.73% 15.46% 14.72% 7.14% 1.05% % Unidentified Reductions (5.00) GRAND TOTAL C-2

29 Comparative Staffing by Program Fiscal Year % 14.9% 11.1% 7.9% 3.6% 10.0% 49.5% Fiscal Year % 14.3% 10.5% 7.8% 9.7% 3.5% 51.4% Academic Support Student Services Public Service Instruction Operations & Maintenance Auxiliary Enterprises Institutional Support C-2a

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31 Black Hawk College Fiscal Year 2006 Budget Summary Statement of Special Funds 2006 Changes from Approved Budget Approved 2006 Increase/(Decrease) Budget Budget Amount % OPERATIONS & MAINTENANCE FUND, RESTRICTED Revenues $ 9,950,000 $ 8,700,000 $ (1,250,000) (12.56)% Expenditures 10,450,000 10,000,000 (450,000) (4.31)% Excess (Deficiency) (500,000) (1,300,000) (800,000) % Transfers In 50,000 0 (50,000) (100.00)% Fund Balance - Beg. of Year 3,756,699 2,870,541 (886,158) (23.59)% Fund Balance - End of Year $ 3,306,699 $ 1,570,541 $ (1,736,158) (52.50)% RESTRICTED PURPOSES FUND Revenues $ 15,344,377 $ 18,066,901 $ 2,722, % Expenditures 15,344,377 18,066,901 2,722, % Excess (Deficiency) % Transfers Out (130,000) (108,000) 22,000 (16.92)% Fund Balance - Beg. of Year 266,639 95,537 (171,102) (64.17)% Fund Balance - End of Year $ 136,639 $ (12,463) $ (149,102) (109.12)% WORKING CASH FUND Revenues $ 245,000 $ 250,000 $ 5, % Expenditures % Excess (Deficiency) 245, ,000 5, % Transfers Out (1,142,862) (250,000) 892,862 (78.13)% Fund Balance - Beg. of Year 7,377,626 7,636, , % Fund Balance - End of Year $ 6,479,764 $ 7,636,706 $ 1,156, % AUDIT FUND Revenues $ 65,000 $ 65,000 $ % Expenditures 65,000 65, % Excess (Deficiency) % Fund Balance - Beg. of Year 61,751 79,482 17, % Fund Balance - End of Year $ 61,751 $ 79,482 $ 17, % LIABILITY, PROTECTION & SETTLEMENT FUND Revenues $ 2,100,000 $ 2,100,000 $ % Expenditures 2,300,681 2,397,388 96, % Excess (Deficiency) (200,681) (297,388) (96,707) 48.19% Fund Balance - Beg. of Year 1,706,056 1,381,603 (324,453) (19.02)% Fund Balance - End of Year $ 1,505,375 $ 1,084,215 $ (421,160) (27.98)% BOND & INTEREST FUND Revenues $ 1,300,000 $ 2,400,000 $ 1,100, % Expenditures 1,300,000 1,400, , % Excess (Deficiency) 0 1,000,000 1,000, % Transfers Out 0 (1,000,000) (1,000,000) 0.00% Fund Balance - Beg. of Year % Fund Balance - End of Year $ 0 $ 0 $ % D-1

32 Black Hawk College Fiscal Year 2006 Budget Statement of Revenues and Expenditures Operations & Maintenance Fund, Restricted Revenues 2006 Changes from Approved Budget Approved 2006 Increase/(Decrease) Budget Budget Amount % Local Government Sources: Current Taxes $ 1,400,000 $ 1,400,000 $ % Bond Proceeds 5,300,000 4,000,000 (1,300,000) (24.53)% TOTAL Local Government $ 6,700,000 $ 5,400,000 $ (1,300,000) (19.40)% State Government Sources: Other State Sources $ 1,250,000 $ 1,300,000 $ 50, % TOTAL State Sources $ 1,250,000 $ 1,300,000 $ 50, % Non-Govt Gifts, Grants, Donations $ 2,000,000 $ 2,000,000 $ % TOTAL REVENUES $ 9,950,000 $ 8,700,000 $ (1,250,000) (12.56)% Expenditures Contractual Services $ 2,650,000 $ 3,000,000 $ 350, % Capital Outlay 7,800,000 7,000,000 (800,000) (10.26)% TOTAL EXPENDITURES $ 10,450,000 $ 10,000,000 $ (450,000) (4.31)% D-2

33 Black Hawk College Fiscal Year 2006 Budget Restricted Purposes Fund FY05 Award Revenues/ Expenditures/ Transfers FY2006 Estimated Revenues/ Expenditures/ Transfers STATE GOVERNMENT RESOURCES Illinois Community College Board: Accelerated College Enrollment $ 25,296 $ 46,009 Adult Basic Education Program Grant 732, ,735 Early School Leaver 40,852 40,852 State Program Improvement 24,864 24,864 Workforce Prep/Business & Industry 79,390 77,448 Department of Labor: Displaced Homemakers 58,410 58,410 Displaced Homemaker Network 37,200 37,200 Illinois State Board of Education: Family Literacy/Even Start(Moline) 9,400 9,400 Family Literacy/Even Start(Kewanee) 8,400 8,400 Family Literacy/Even Start(East Moline) 12,900 12,900 Truants/Alternative Education 233, ,748 Secretary of State Office: Literacy Is For Everyone 65,000 65,000 Family Literacy 35,000 35,000 Illinois Public Broadcasting 207, ,000 Illinois Board of Higher Education: Transfer Center 39,000 40,000 ISAC 1,902,093 1,875,799 Contingency for Other State Grants 2,000,000 2,500,000 TOTAL State Government Sources $ 5,510,905 $ 5,948,765 FEDERAL GOVERNMENT SOURCES Department of Education: Adult Basic Education Program Grant $ 392,589 $ 372,960 Student Support Services Program 298, ,305 Federal Financial Aid (Pell, College Work-Study, SEOG) 6,165,000 6,030,000 Carl D. Perkins Grant 518, ,725 Postsecondary Performance Funds 10,000 10,000 Continuous Improvement 10,000 10,000 Perkins/Tech Prep Support 17,757 17,757 Perkins/NTO Chat Room 2,000 2,000 CPB-Ready to Learn 30,000 0 Department of Defense: Procurement Technical Assistance Center 60,000 60,000 Department of Health and Human Services: DCFS Foster/Adoptive Training 194, ,511 Department of Labor: WIA/HIRE Expectations 129,770 0 WIA/Employment Advancement Resource Network 87,440 83,068 Small Business Administration: Small Business Development Center 67,000 67,000 International Trade Center 60,000 60,000 Contingency for Other Federal Grants 2,000,000 2,500,000 TOTAL Federal Government Sources $ 10,042,905 $ 10,218,326 SCHOLARSHIPS $ 250,000 $ 250,000 OTHER SOURCES BHC Technology Fee $ 384,485 $ 372,000 Corporation for Public Broadcasting 665, ,510 Greater Quad Cities Telecommunication Corp. 640, ,300 TOTAL Other Sources $ 1,690,549 $ 1,649,810 GRAND TOTALS $ 17,494,359 $ 18,066,901 D-3

34 Black Hawk College Fiscal Year 2006 Budget Statement of Revenues and Expenditures Working Cash Fund Revenues 2006 Changes from Approved Budget Approved 2006 Increase/(Decrease) Budget Budget Amount % Time Deposits $ 245,000 $ 250,000 $ 5, % TOTAL REVENUES $ 245,000 $ 250,000 $ 5, % Expenditures $ 0 $ 0 $ % TOTAL EXPENDITURES $ 0 $ 0 $ % Transfers Transfers to other funds $ (560,000) $ (250,000) $ 310,000 (55.36)% TOTAL TRANSFERS $ (560,000) $ (250,000) $ 310,000 (55.36)% D-4

35 Black Hawk College Fiscal Year 2006 Budget Statement of Revenues and Expenditures Audit Fund Revenues 2006 Changes from Approved Budget Approved 2006 Increase/(Decrease) Budget Budget Amount % Local Government Sources: Current Taxes $ 65,000 $ 65,000 $ % TOTAL Local Government $ 65,000 $ 65,000 $ % TOTAL REVENUES $ 65,000 $ 65,000 $ % Expenditures Contractual Services $ 65,000 $ 65,000 $ % TOTAL EXPENDITURES $ 65,000 $ 65,000 $ % D-5

36 Black Hawk College Fiscal Year 2006 Budget Statement of Revenues and Expenditures Liability, Protection & Settlement Fund Revenues 2006 Changes from Approved Budget Approved 2006 Increase/(Decrease) Budget Budget Amount % Local Government Sources: Current Taxes $ 2,100,000 $ 2,100,000 $ % TOTAL Local Government $ 2,100,000 $ 2,100,000 $ % Other Sources: $ 0 $ 0 $ % TOTAL REVENUES $ 2,100,000 $ 2,100,000 $ % Expenditures Salaries $ 620,281 $ 654,271 $ 33, % Employee Benefits 612, ,517 13, % Contractual Services 416, ,000 54, % Supplies and Materials 25,000 24,100 (900) (3.60)% Conference/Meetings 3,900 4,900 1, % Fixed Charges 502, , % Utilities 7,600 8,800 1, % Capital Outlay % Contingency 112, ,000 (7,000) (6.25)% TOTAL EXPENDITURES $ 2,300,681 $ 2,397,388 $ 96, % D-6

37 Black Hawk College Fiscal Year 2006 Budget Statement of Revenues and Expenditures Bond and Interest Fund Revenues 2006 Changes from Approved Budget Approved 2006 Increase/(Decrease) Budget Budget Amount % Current Taxes $ 1,300,000 $ 1,700,000 $ 400, % Bond Proceeds 0 1,000,000 1,000, % TOTAL REVENUES $ 1,300,000 $ 2,700,000 $ 1,400, % Expenditures Fixed Cost $ 1,300,000 $ 1,700,000 $ 400, % TOTAL EXPENDITURES $ 1,300,000 $ 1,700,000 $ 400, % Transfers Transfers to other funds $ 0 $ (1,000,000) $ (1,000,000) 0.00% TOTAL TRANSFERS $ 0 $ (1,000,000) $ (1,000,000) 0.00% D-7

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39 Black Hawk College Fiscal Year 2006 Budget Statement of Cash Flow Operations Liability, Operations Auxiliary & Restricted Working Protection Education & Enterprises Maint. Fund Purposes Cash Audit & Settlement Fund Maint. Fund Fund (Restricted) Fund Fund Fund Fund Cash & Equivalents - 7/1/05 $ 2,600,000 $ 0 $ 0 $ 0 $ 473,000 $ 7,600,000 $ 25,000 $ 71,500 Cash Receipts - FY06 26,000,000 3,700,000 3,890,000 8,700,000 18,066, ,000 65,000 2,100,000 Cash Disbursements - FY06 (26,000,000) (3,700,000) (3,890,000) (8,700,000) (18,066,000) (250,000) (65,000) (2,100,000) Cash & Equivalents - 6/30/06 $ 2,600,000 $ 0 $ 0 $ 0 $ 473,000 $ 7,600,000 $ 25,000 $ 71,500 NOTE: These numbers are estimates for the future fiscal year. E-1

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41 GLOSSARY Academic Support. Academic support includes the operation of the Library, Independent Learning Center, Media Center, open computer labs, and educational television used in the learning process. It also includes all equipment, materials, supplies, and costs that are necessary to support this function. This program is designed to augment instructional activities in the classroom. Accrual Basis. The basis of accounting under which transactions are recognized when they occur, regardless of the timing of related cash flows. Administrative Staff (Grades ). Administrators are those individuals who are line officers of the College and who manage, conduct, and superintend programs, things, persons, and operations of the Board of Trustees. Administrators are defined by the local Board of Trustees; for example, the president, vice presidents, deans, directors. Annual Budget. A budget applicable to a single fiscal year. Assess. To value property officially for the purpose of taxation. Audit Fund. The audit tax levy is recorded in this fund, and monies in this fund are only used for the payment of auditing expenses. Auxiliary Enterprises Fund. The Auxiliary Enterprises Fund (often titled Auxiliary Fund) accounts for the College services where a fee is charged to students/staff and the activity is intended to be self-supporting. Examples of accounts in this fund include food services, student stores, and intercollegiate athletics. Bond. A written promise to pay a specific sum of money called the face value or principal amount, at a specified date or dates in the future, called maturity date(s), together with periodic interest at a specified rate. The difference between a note and a bond is that the latter runs for a period of time and requires greater legal formality. Bond & Interest Fund. The Bond and Interest Fund account is for payment of principal, interest, and related charges on any outstanding bonds. Budget. A plan of financial operation embodying an estimate of proposed expenditures for a given period and the proposed means of financing them. Used without any modifier, the term usually indicates a financial plan for a single fiscal year. The term budget is used in two senses in practice: it can designate the financial plan presented to the appropriating body for adoption or the plan finally approved by that body. Budget Document. The instrument used by the budget-making authority to present a comprehensive financial program to the appropriating body. Budgetary Control. The control or management of a government or enterprise in accordance with an approved budget for the purpose of keeping expenditures within the limitations of available appropriations and available revenues. F-1

42 Business and Industry Center Program. Various activities, including credit and non-credit courses and seminars, are offered as part of the Business and Industry Center Program. These activities, many of which are tailored to meet the specific needs of an individual business, company, or corporation, frequently are used by students to fulfill the requirements for an Associate s degree or certificate program. Capital Outlay. Capital outlay for all funds are recorded as an expenditure of the appropriate fund and as an asset of the General Fixed Assets Account Group. Career Program. Curricula included within the Career Program are intended to prepare students for various vocational, technical, and semi-technical positions and lead to an Associate in Applied Sciences degree or Certificate. Students enroll in these curricula to receive initial job training, to upgrade vocational and technical skills, or to become qualified for emerging career opportunities. Chargebacks. Tuition costs paid by Black Hawk College to other community colleges for students (from the BHC District) attending classes not provided by Black Hawk College. Community Service Program. The Community Service Program consists of activities and non-credit continuing education courses designed to meet the hobby, leisure time, and cultural needs of the community. Conference and Meeting Expense. Conference and meeting expenses associated with business-related travel. Contingency. Budgetary appropriations that are set aside for unforeseen expenditures. Continuing Education Program. Courses and curricula included within the Continuing Education Program focus on life-long learning opportunities and include those specifically dealing with adult basic education, adult secondary education, developmental education, English as a second language, homemaking, general studies, vocational retraining, and personal development and classified with reimbursable credit hours. Contractual Services. Charges for services rendered by firms or persons not employed by the local Board of Trustees. Corporate Personal Property Replacement Tax. A tax collected by the Illinois Department of Revenue as replacement personal property tax under Public Act 81-1st-S.S.-1. Section 616 of the State Revenue Sharing Act requires taxing districts to first apply any replacement taxes against the required debt service for any bonds outstanding as of December 31, Current. A term which when applied to budgeting and accounting designates the operations of the present fiscal period as opposed to past or future periods. It usually connotes items likely to be used or converted into cash within one year. Current Funds. Those funds through which most educational functions of the College are financed. The acquisition, use and balances of the College's expendable financial resources and the related liabilities are accounted for through current funds. The measurement focus is upon determination of changes in financial position, rather than upon net income determination. Current Funds, Restricted. Restricted Current Funds consist of those funds expendable for current operating purposes but restricted by donors, outside agencies, or tax levy as to the specific purpose for which they may be expended, i.e., Restricted Purposes, Audit, and Liability, Protection, Settlement. F-2

43 Current Funds, Unrestricted. Unrestricted current funds consist of those financial resources of the College which are expendable for any purpose in performing the primary objectives of the College (i.e., instruction, academic support, student services, and public services), which have not been designated for other purposes. These funds are the Education, Operations and Maintenance, and Auxiliary Enterprises. Deficit. (1) The excess of the liabilities of a fund over its assets. (2) The excess of expenditures over revenues during an accounting period. Education Fund. The Education Fund accounts for the revenues and expenditures of the academic and service programs of the College. It includes the cost of instructional administrative and professional salaries; supplies and moveable equipment; library books and materials; maintenance of instructional and administrative equipment; and other costs pertaining to the educational program of the College. Employee Benefits. The cost of all employee benefits including the portion of insurance paid for by the College (not including the portion withheld from the employee s wages, when both the employee and the College contribute toward the benefit), professional development leave salaries, and any pension contributions paid by the College District. Equalization. The process of equalizing assessments or taxes, as performed by boards of equalization in various states, consists of comparing the assessment made by the local officers of the various counties and other taxing districts within the jurisdiction of the board and reducing them to a common and uniform basis, increasing or diminishing by such a percentage as may be necessary, so as to bring about with the entire territory affected a uniform and equal ratio between the assessed value and the actual market value of property. Expenditures. Decreases in net financial resources. Expenditures include current operating expenses which require the current or future use of net current assets, debt service, and capital outlays. Facilities Revenue. Revenue from the use of College facilities. Faculty, Non-Teaching (Academic Support). Academic support refers to individuals who exercise professional judgment and discretion and directly support the teaching and learning process. Individuals in this classification are limited to librarians and counselors. Faculty, Teaching. Teaching faculty refers to individuals who spend more than one-half (50 percent) of their workload in the activity of teaching and providing instruction to students. Federal Governmental Sources. Revenues from all agencies of the Federal Government. Fiscal Year. A period of twelve months, not necessarily concurrent with the calendar year, with reference to which appropriations are made and expenditures authorized and at the end of which the accounts are balanced and audited. For Black Hawk College, this annual period is July 1st through June 30 th. Fixed Assets. Assets of a long-term character which are intended to continue to be held or used, such as land, buildings, improvements other than buildings, machinery and equipment. Fixed Charges. Charges for rentals, debt principal and interest, and general insurance. Fund. An independent fiscal and accounting entity with a self-balancing set of accounts which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions or limitations. F-3

44 General Education Program. General education courses are required in all curricula leading to an Associate s degree. They are intended to provide students with a foundation knowledge in communications, mathematics, physical sciences, social and behavioral sciences, humanities, and health and physical fitness. General Materials and Supplies. Costs of all general materials and supplies (i.e., office, instructional, library, or maintenance supplies; publications and dues; advertising). Institutional Support. Institutional Support includes expenditures for central executive-level activities and support services that benefit the entire institution. Examples include expenses for the governing board, President's Office, Administration and Finance Division, Public Information Office, Human Resources Office, administrative data processing, legal services, etc. It also includes all equipment, materials, supplies, and costs that are necessary to support these functions. Instruction. Instruction consists of those activities dealing directly with or aiding in the teaching of students. It includes the activities of the faculty in the baccalaureate-oriented transfer, occupationaltechnical career, general studies, and remedial and programs (Associate s degree credit and certificate credit). It also includes all equipment, materials, supplies, and costs that are necessary to implement the instructional program. Interfund Transfers. All interfund transactions except loans or advances, quasi-external transactions, and reimbursements are transfers. Internal Control. A plan of organization under which employees' duties are so arranged and records and procedures so designated as to make it possible to exercise effective accounting control over assets, liabilities, revenues and expenditures. Under such a system, the work of employees is subdivided so that no single employee performs a complete cycle of operations. Moreover, under such a system, the procedures to be followed are definitely laid down and require proper authorization by designated officials for all actions to be taken. Investment Revenue. Revenue from investments. Levy. (Verb) To impose taxes for the support of College activities. (Noun) The total amount of taxes imposed by a government. Liability, Protection, and Settlement Fund. This fund is established pursuant to 745 ILCS and 40 ILCS 5/ of the Illinois Compiled Statutes and utilized for those purposes as given in these sections. Some examples of expenses covered by this fund are tort liability, unemployment or worker s compensation insurance or claims, and Medicare/FICA taxes. Liberal Studies Program. The Liberal Studies Program is designed for students who desire maximum flexibility in preparing for a non-transfer two-year degree. Transfer, career, and continuing education courses may be used to meet a student's specific educational goals. Students completing this program earn an Associate in Liberal Studies degree. Loan Funds. Loan Funds consist of resources available for loans to students. Local Governmental Sources. Revenues from District taxes, from chargebacks, and from all governmental agencies below the state level. F-4

45 Managerial Staff (Grades ). Managers shall be individuals who have the duty, responsibility, or authority to recommend the employment, transfer, suspension, dismissal, promotion, assignment, reward, or discipline of other staff individuals both full and part-time. Object. Expenditure classifications grouped by materials or services purchased; further divided for cost accounting and control purposes. Office Staff (Grades ). Office staff shall refer to those employees who are engaged in the process of keeping records and processing information upon the direction and request of professional College staff. For example, secretaries, clerks, bookkeepers, data processing operators, printing operators, and general office personnel. Operations and Maintenance Fund. Operation of plant consists of housekeeping activities necessary in order to keep the physical facilities open and ready for use. Maintenance of plant consists of those activities necessary to keep the grounds, buildings, and equipment operating efficiently. This function also provides for campus security and plant utilities, as well as equipment, materials, supplies and costs that are necessary to support this function. Operations and Maintenance Fund, Restricted. Operations and Maintenance Fund, Restricted, represents resources available for the acquisition of institutional physical properties (including equipment for buildings and programs). Other Expenditures. This object is reserved for all expenditures that cannot be classified in any other object classification. Other Revenues. Revenues which do not fit into specific revenue source categories. Other Staff (Grades 0-99). This category is to be used for positions graded 99 and below or any nongraded work assignment. Professional, Technical Staff (Grades ). Professional technical personnel are those personnel who do not directly support the process of teaching and whose support is not critical to the process of teaching. Such positions shall include data analysts, accountants, computer programmers, engineers, internal auditors, etc. Program. A level in the classification structure hierarchy representing the collection of elements serving a common set of objectives that reflect the major institutional missions and related support activities. Property Taxes. Compulsory charges levied on real property by the District for the purpose of financing services performed for the common benefit. Revenues equal the District's assessed valuation multiplied by the property tax rates. F-5

46 Public Service. The public service function includes the services provided to the general community, governmental agencies, and business and industry for non-credit community education and community service activities. Community education focuses on the individual participant, and thus, requires an individual registration and class completion record-keeping procedure. Community education includes non-credit short courses, professional review classes, workshops, and seminars that provide an educational service to the residents of the community. Community service is a structured activity that provides a beneficial service to the community by making College facilities and expertise available to the public. Community service focuses on group participation, and thus, does not require an individual registration and class completion record-keeping procedure. Community service includes College-sponsored seminars, workshops, forums, lecture series, cultural exhibits and events, and consulting services provided through College-operated institutes and center. The public service function also includes public broadcasting (WQPT-TV). Restricted Purposes Fund. The Restricted Purposes Fund is for the purpose of accounting for monies that have restrictions regarding their use. Each specific project, whether monies are local, state, federal or other in origin, is accounted for separately using a complete group of self-balancing accounts within the fund. Revenues. (1) Increases in governmental fund type net current assets from other than expenditure refunds and residual equity transfers. (2) Increases in proprietary fund type net total assets from other than expense refunds, capital contributions, and residual equity transfers. Salaries. Salaries and wages paid to an employee, before any deductions, for personal services rendered to the College District. Sales and Service Fees. All fees and charges for other than educational and general purposes, such as auxiliary enterprise sales or charges and admissions charges, and all sales and service charges or contract payment revenues for materials or services from private persons, firms, or other non-governmental entities. Scholarships, Student Grants, and Waivers. This category includes activities in the form of grants to students, prizes and awards, chargebacks, and aid to students in the form of state-mandated and institutional tuition and fee waivers. Employees/family tuition waivers are not included in this category. Service Staff (Grades ). Service Staff refers to those employees who are engaged in housekeeping and the maintenance/repair of College facilities and equipment. State Governmental Sources. State revenues from all state governmental agencies. Student Employees. All individuals employed by the College enrolled in six or more credit hours of instruction. Student Services. The student services function provides assistance in the areas of financial aid, admissions and records, health, placement, testing, counseling, and student activities. It includes all equipment, materials, supplies, and costs that are necessary to support this function. Student Tuition and Fees. All tuition and fees, less refunds, remissions, and exemptions, assessed against students for educational and general purposes. F-6