BUDGET. CVTC. The Right Choice. o ege. - ~ Chippewa Valley C l ~ltechnical. 5/2017 cvtc.edu/eeo

Transcription

1 BUDGET CVTC. The Right Choice. - ~ Chippewa Valley C l ~ltechnical o ege 5/2017 cvtc.edu/eeo

2 CHIPPEWA VALLEY TECHNICAL COLLEGE BOARD OF TRUSTEES Chippewa Valley Technical College has an appointed board consisting of nine members who serve three-year staggered terms. Each year three members are appointed by a committee consisting of the county board chairpersons of the counties belonging to the Chippewa Valley Technical College District. District boards are composed of two employers, two employees, three additional member, one school district administrator, and one elected official who holds a state or local office Colleen A. Bates, Chairperson Eau Claire Paul Schley, Vice Chairperson, Eau Claire Gwen Southard, Secretary, Eau Claire Russell Ratsch, Treasurer, Neillsville Paul M. Bauer, Ellsworth Dawn Garcia, Eau Claire Cheryl Maplethorpe, River Falls Ramona J. Mathews, Eau Claire John Walton, Chippewa Falls Colleen A. Bates, Eau Claire Paul Bauer, Ellsworth Dawn Garcia, Eau Claire Ramona J. Mathews, Eau Claire Russell Ratsch, Neillsville Paul Schley, Chippewa Falls Gwen Southard, Eau Claire Ron Walsh, Eau Claire Justin Zoromski, Eau Claire Administrators Bruce A. Barker, President Julie A. Furst-Bowe, Vice President Thomas G. Huffcutt, Vice President Margo A. Keys, Vice President

3 BUDGET Chippewa Valley Technical College District Board Adopted June 15, 2017 Official Issuing Report: Kirk L. Moist Finance Director Report Prepared by: Tracy M. Drier Budget & Purchasing Manager 620 W. Clairemont Avenue, Eau Claire, WI

4 TABLE OF CONTENTS SECTION I BUDGET & PLANNING Letter to Citizens of Western Wisconsin... 1 The Strategic Plan...2 Higher Learning Commission Accreditation...7 Budget Process...8 Budget Planning Assumptions...9 Position Summary FTE Basis...10 SECTION II FINANCIAL DATA Classification Descriptions...11 Notice of Public Hearing...14 Budget Summary...15 Budgetary Statement of Resources, Uses and Changes in Fund Balance General Fund...16 Special Revenue Fund-Operational...17 Special Revenue Fund-Nonaidable...18 Capital Projects Fund...19 Debt Service Fund...20 Enterprise Fund...21 Internal Service Fund...22

5 TABLE OF CONTENTS Budgeted Expenditures by Object Level...23 Combined Budget Summary...24 Proforma Balance Sheet...25 Capital Project Listing...26 Schedule of Long-Term Obligations and Combined Totals...27 Debt Limit...34 SECTION III SUPPLEMENTAL DATA Tax Levy, Equalized Valuation and Mill Rates...35 Budget Summary Resources...36 Budget Summary : Expenditures by Fund...37 Budget Summary : Expenditures by Function...38 Total Actual Costs per FTE by District...39 Full-Time Enrollment Statistics: FTE s...40 Full-Time Enrollment Statistics: Headcount...41 Credit Program Offerings...42 Campus Locations...43 District Map...45 Tax Levy Distribution by Municipality...46

6 BUDGET & PLANNING

7 ~ Chippewa Valley o ege C l ~ 1 Technical June 16, 2017 Ii m w st G y )( I I mpus s Eau C a re Ca C a re ont e atewa Ii m 620 W. C a re ont Ave Eau C a re Fa c c edu I I,WI WWW. vt. e Hello West Central Wisconsin: Your Chippewa Valley Technical College is dedicated to strengthening local communities by providing open access, innovative, and applied education. We educate tomorrow s workforce. Our programs, the curriculum, equipment, and learning labs are all specifically designed to provide our students with the job skills needed for successful careers right here in our district. Every program is reviewed by community advisory committees comprised of local business and industry experts. Our faculty members all have had real life field experience in the areas they are teaching. This public-private partnership between CVTC and our business community results in meaningful employment for our students, a high quality workforce for employers, continued economic development, and a better quality of living for all of us. We greatly appreciate the opportunity to serve our communities. Thank you for your support. Sincerely, Colleen Bates Chair, Board of Trustees Bruce A. Barker President rm An affi ative action e ploye and educationa m r Institution. 1 Bruce A. Barke Pre dent si r

8 CVTC STRATEGIC PLAN Fiscal Year Mission CVTC delivers innovative and applied education that supports the workforce needs of the region, improves the lives of students, and adds value to our communities. Vision CVTC will be a dynamic partner for students, employers, and communities to learn, train, and succeed. - I Board End Statements 1. CVTC will meet the dynamic and diverse employment and training needs of the region. 2. CVTC will meet changing student educational needs. 3. CVTC will enhance seamless transition for all students between educational systems in Wisconsin. 4. CVTC will support the economic development of West Central Wisconsin. 5. CVTC will be fiscally and organizationally healthy. Strategic Goals 1. Quality: Ensure continuous quality improvement and optimize student learning in programs and courses. 2. Student Success: Improve student success through innovative student centered strategies and quality instruction. 3. Program Alignment: Align programs and course offerings with the needs of high-demand, highgrowth industries in the region. 4. College Climate: Build on best practices to support a culture that enhances efficiency, effectiveness and professional growth for employees. 5. Community Partnerships: Expand partnerships with workforce, educational and community stakeholders to develop the workforce for our region. 2

9 Annual Action Plan Goal 1: Quality Ensure continuous quality improvement and optimize student learning in programs and courses. Outcomes 1.1Redesign programs and curriculum to align with industry standards and key program performance indicators (capacity, employment, and graduation rates). A. Implement accreditation study and submission of individual programs i. Childcare (NAWEYC) ii. Engineering and Technology (ABET) iii. Heating, Ventilation and Air Conditions (currently PAHRA moving to dual accreditation with HVAC Excellence) B. Further develop global education programming 1.2Expand development of career pathways with embedded certificates and stackable credentials that align with high demand jobs. A. Implement new agricultural programs (grant funded) B. Implement 1-year embedded technical diploma and 5-axis machining in Machine Tool program C. Implement embedded technical diploma in computer-aided design (CAD) in Mechanical Design program (grant funded) 1.3Strengthen course completion with assessment of learning and technical skills attainment initiatives. A. Continue to integrate assessment of learning and technical skills assessments in faculty in-service programming i. Complete progress report on assessment of student learning in curricular and co-curricular activities (February 2018). Goal 2: Student Success Improve student success through support of innovative student centered strategies and quality instruction. Outcomes 2.1 Increase student persistence to degree completion. A. Pilot retention strategies developed in Persistence & Completion Academy work in the following areas: Agriculture, Skilled Trades & Engineering, General Education, Liberal Arts, Business Management, and Diagnostic Medical Sonography. B. Create a Student and Business Program Engagement Center (SGA funded) C. Expand Open Education Resource (OER) options to reduce textbook costs and support online programming D. Implement CVTC Promise Scholarship program E. Implement mental health services to students (grant funded) 3

10 i. Offer suicide prevention training ii. Partner with community agency to offer services to students F. Expand online virtual support in Academic Services, Advising, Diversity and Student Central departments. 2.2 Increase number of credits students obtain through prior learning assessment processes. (#10) 2.3 Increase credits completed and transferred in Liberal Arts program. A. Launch Liberal Arts Honors program B. Develop agreements with public and private universities to expand transfer of credits Goal 3: Program Alignment Align programs and course offerings with the needs of high-demand, highgrowth industries in the region. Outcomes 3.1 Modify course and program options based on employment needs. A. Implement new programs in high demand areas i. Implement Mechanical Design program ii. Implement Library & Information Services program iii. Expand internship opportunities in programs (grant funded) iv. Develop curriculum and facility plan for Culinary program v. Expand online programming in high demand areas vi. Expand Apprenticeship programs with industry need (Maintenance Mechanic, Mold Maker) vii. Explore Instructional Assistant program viii.explore Gas Utilities program ix. Expand River Falls programing to meet regional needs a. Redesign Residential Construction program to HS Academy model in 2018 b. Expand Mechanical Design program to River Falls c. Expand Liberal Arts courses and sections in River Falls B. Suspend programs based on industry demand i. Sales Management ii. Nanotechnology iii. Renal Dialysis 3.2Increase program enrollments. 3.3Maintain strong graduate employment rate. Increase internship and apprenticeships with area employers. 4

11 Goal 4: College Climate Build on best practices to support a culture that enhances efficiency, effectiveness and professional growth for employees. Outcomes 4.1Promote employee development to enhance staff and faculty satisfaction and collaborative college climate. A. Expand leadership development opportunities for succession planning B. Explore opportunities to enhance culture of inclusion and collaboration on campus 4.2Accurately scope projects in cost, time, personnel and resources. A. Develop and mentor staff in project management B. Create a goverance structure for IT prioritization C. Effectively implement core data systems upgrades i. Banner 9 ii. CRM Phase II iii. CRM Advise 4.3Maintain efficient and effective information systems to support learning goals. A. Expand capacity for data analytics i. Redesign FA website & document scanning system ii. Redesign FTE cube to increase accuracy & functionality iii. Investigate learning management systems to enhance assessment of learning analytics Goal 5: Community Partnerships Expand partnerships with workforce, educational and community stakeholders to develop the workforce for our region. Outcomes 5.1Increase B&I programming and FTEs. A. Partner with academic team to increase credit offerings in Business & Industry training B. Expand B&I offerings 5.2Increase high school graduates entering programs with credits earned. (#6) A. Expand High School Academy programming (partially grant funded) B. Expand partnerships with community agencies serving current & potential students (social worker engagement) C. Collaborate with CESA 10 for professional development opportunities D. Explore career development collaborations with middle school and high school partners 5.3Increase grant revenue through collaborative projects with workforce, educational and community stakeholders. 5.4Optimize partnership with CVTC Foundation to fund College initiatives in Culinary Arts, student housing and CVTC s Promise Scholarship program. 5

12 Strategic Goals Goal 1 Goal 2 Goal 3 Goal 4 Goal 5 Quality Ensure continuous quality improvement and optimize student learning in programs and courses. Student Success Improve student success through innovative student centered strategies and quality instruction. Program Alignment Align programs and course offerings with the needs of high-demand, high-growth industries in the region. College Climate Build on best practices to support a culture that enhances efficiency, effectiveness and professional growth for employees. Outcomes Outcomes Outcomes Outcomes Outcomes Community Partnerships Expand partnerships with workforce, educational and community stakeholders to develop the workforce for our region. 1.1 Redesign programs and curriculum to align with industry standards and key program performance indicators (capacity, employment, and graduation rates) Expand development of career pathways with embedded certificates and stackable credentials that align with high demand jobs. 1.3 Strengthen course completion with assessment of learning and technical skills attainment initiatives Increase student persistence to degree completion Increase number of credits students obtain through prior learning assessment processes Increase credits completed and transferred in Liberal Arts program. 3.1 Modify course and program options based on employment needs Increase program enrollments Maintain strong graduate employment rate Promote employee development to enhance staff and faculty satisfaction and collaborative college climate Accurately scope projects in cost, time, personnel and resources Maintain efficient and effective information systems to support learning goals Increase B& I programming and FTEs Increase high school graduates entering programs with credits earned Increase grant revenue through collaborative projects with workforce, educational, and community stakeholders. 5.4 Optimize partnership with CVTC Foundation to fund College initiatives in Culinary Arts, student housing, and CVTCs Promise Scholarship program. Key Results Key Results Key Results Key Results Key Results Individual Program Accreditations Industry Recognized Credentials Program Performance Standards Career Pathways with Stackable Credentials Student Persistence (fall - fall, fall-spring) Credits for Prior Learning Awarded Transfer Rates of Liberal Arts Students Job Related Placement High School Market Penetration Program Enrollments PACE Survey Results Accurate Estimates of Project Cost, Time, Personnel and Resources Major Systems Down- Time Business & Industries Contacts and Credits High School Dual Enrollments Collaborative Grant Revenue 6

13 Higher Learning Commission Accreditation The Higher Learning Commission is one of six regional accrediting bodies recognized by the U.S. Department of Education, and maintaining regional accreditation is necessary for Chippewa Valley students to be eligible for federal financial aid. In October 2015, Chippewa Valley Technical College underwent a Comprehensive Quality Review, in which a team of peer reviewers visited the college to validate information the college provided in comprehensive accreditation reports by reviewing supporting documents and talking to students, staff, and community members. Based on the visiting team s recommendation, Chippewa Valley s accreditation has been reaffirmed through The college received many commendations from the team as well as suggestions for improvement. Following the Comprehensive Quality Review, Chippewa Valley began the process of addressing Higher Learning Commission feedback as part of its continuous quality improvement efforts. In May 2016, Chippewa Valley was accepted into the Higher Learning Commission s Persistence and Completion Academy. The Academy is a four-year initiative to build institutional capacity for the improvement of student persistence and completion. The Academy offers a guided program to advise institutions on defining, tracking and analyzing data on student success; establishing clear goals and strategies for student population groups; and implementing those goals. A team of Chippewa Valley staff and faculty will participate in the Academy to learn new techniques for researching and comparing emerging methods of evaluation and improvement, as well as how to collect and analyze data to identify patterns that lead to data-informed decisions. 7

14 BUDGET PROCESS Fiscal Year The Chippewa Valley Technical College budget is adopted for the year beginning July 1 st ending June 30 th. The budget allocates financial resources for ongoing programs, courses, and services, as well as for strategic initiatives. Budgeting is done in accordance with Chapter 65 of Wisconsin Statutes, Wisconsin Technical College System administrative rules and submitted to the System Office by July 1. Expenditures much be accommodated within the authorized tax levy and other funding resources. The CVTC budget is created to support the 11 county geographic district in west central Wisconsin. This district includes 204 municipalities, 34 public schools and an estimated population of 313,000. To service the district s 5,500 square miles, CVTC operates campuses in four cities and provides offerings at approximately 33 locations. The budgeting process is an integral step in implementing the College s strategic initiatives. Each department develops a budget based on the instructional and operational goals for the year. Budgets are reviewed by the Budget Manager and consolidated for further review by the Finance Director, Vice Presidents, and President for alignment with the strategic initiatives and overall goals of the College. During the months of February through May, the President s Cabinet and College Board of Trustees review and assess various elements of the budget including historical trends, current projections, and major budget assumptions. At its May meeting, the Board authorizes the publishing of a legal notice to hold a public hearing prior to adoption of the consolidated budget. The Board of Trustees completed their review of the budget in May of 2017 and the public hearing on the proposed budget was held on June 15, Final adoption of the budget occurred at the regular District Board Meeting on June 15, The tax rates shown in this document are actual rates from October 1, On or near October 1, 2017 the Wisconsin Department of Revenue will provide new actual valuations at which time the Board will set its final mill rate. 8

15 Budget Planning Assumptions Financial projections are developed initially during the budget planning process and continue to be updated through budget development. Property Values: Property values are expected to increase 3.4% from the level in Full-Time Equivalent Students (FTE): FTEs for are expected to be 4,230, which is an increase of 3.5% above the projected estimate. Health Insurance: The health insurance premium is expected to increase due to increasing claims experience. General State Aids: Revenues from general state aids are expected to remain flat as outcome based funding will remain at 30% of General State Aid. State Grants: WTCS State incentive grant revenues are expected to remain consistent with Student Fees: Tuition rates will increase 1.4% over Institutional Revenue: Institutional revenue is expected to increase due to an increase in contract revenue. Federal Grants: Federal revenue is expected to decrease due to the TAACCCT IV grant that will be ending for sub recipients March CVTC will continue to have activity as the lead into FY19. Fund Balance: Based on the budget projections, the General Fund balance will remain within the guidelines established by the CVTC Board. 9

16 CHIPPEWA VALLEY TECHNICAL COLLEGE Position Summary - FTE Basis Actual* Y-T-D* Budget* Category Administrators/ Supervisors Teachers Specialists Other Staff General Fund Special Revenue Proprietary Fiduciary Total Fund Fund Fund Total * This schedule does not include the adjunct instructors for noncredit courses, temporary staff, students or the limited-term project employees. 10

17 FINANCIAL DATA

18 REVENUES The following sources are used to classify the district s revenue: Local Government: Revenue of the district that is derived from taxes levied on the equalized property value within a district. State Aids: Funds made available by the legislature for distribution to the district based on a statutory formula of distribution and on competitive categorical appropriations. Program Fees: Fees paid by students and set by the Wisconsin Technical College System Board for tuition. Material Fees: Fees paid by the students to cover the cost of instructional materials used by the student or instructor in the classroom. Other Student Fees: Fees paid by students to cover the cost of graduation, transcripts, applications, student activities, registration, testing and student projects. Institutional Revenue: Revenue of the district that is derived from interest income, contracted services, sales and rental income. Federal Revenue: Revenue provided by the federal government often of a costreimbursement nature. Expenditures made with this revenue are identifiable as federally supported expenditures. 11

19 EXPENDITURES The following functions are used to classify the district s expenditures: Instruction: This function includes teaching, academic administration (including clerical support), and other activities related directly to the teaching of students, guiding students in the educational program, and the coordination and improvement of teaching. Instructional Resources: This function includes all learning resource activities such as the library, audiovisual, learning resources center, instructional media center, instructional resources administration and clerical support. Student Services: This function includes those non-instructional services provided for the student body such as student recruitment, student services administration and clerical support, admissions, registration, counseling (including testing and evaluation), financial aids, placement and follow-up. General Institutional: This function includes all services benefiting the entire district, exclusive of those chargeable directly to other functional categories. The district board, president s office, business office, data processing, human resources, public communications and general supporting administrative offices are included in this function. Physical Plant: This function includes all services required for the operation and maintenance of the district s physical facilities. Principal and interest on long-term obligations are included under this function as are the general utilities heat, light and power. Auxiliary Services: This function includes commercial type activities. Examples include bookstore, duplicating, auto parts, dental clinic and parking. 12

20 FUND EQUITY The following reserves and designations are used to classify the district s fund equity: Retained Earnings: Represents that portion of the fund equity which has been accumulated from the operation of the Enterprise or Internal Service Funds. Reserve for Student Organizations: Fund balance held in trust for student organizations. Reserve for Student Financial Assistance: Fund balance held in trust for student financial assistance. Reserve for Capital Projects: Segregation of a portion of the fund balance which is exclusively and specifically for the acquisition and improvement of sites and for the acquisition, construction, equipping and renovation of buildings. Reserve for Debt Service: Segregation of the fund equity for Debt Service Fund resources legally restricted to the payment of general long-term debt principal and interest. Designated for Operations: Portion of the unreserved fund balance which is designated to be used to provide for normal fluctuations in operating cash balances. Designated for Subsequent Years: Portion of the unreserved fund balance which is designated to fund operations subsequent to the forthcoming budget year. 13

21 CHIPPEWA VALLEY TECHNICAL COLLEGE Notice of Public Hearing July 1, June 30, 2018 A public hearing on the proposed fiscal year budget for the Chippewa Valley Technical College will be held on June 15, 2017 at 5:30 p.m. in the RCU Community Center (100A), 620 West Clairemont Avenue, Eau Claire, WI. The detailed budget is available for public inspection at the Administrative Office (100), 620 West Clairemont Avenue, Eau Claire, WI, Monday through Friday between the hours of 8 a.m. and 4 p.m. PROPERTY TAX AND EXPENDITURE HISTORY Fiscal Equalized Mill Rates Total Percent Year Valuation Operations(2) Debt Service Mill Rate Inc/(Dec) ,347,683, (1.67) ,931,041, (48.31) ,767,542, (1.24) ,604,603, (0.97) (1) 23,379,603, (0.64) Tax on a Fiscal Total Percent Property Percent $100,000 Year(2) Expenditures Inc/(Dec) Tax Levy Inc/(Dec) House ,211, $35,328,971 (0.20) $ ,941, $18,784,193 (46.83) $ ,154,700 (5.97) $19,293, $ ,833, $19,841, $ ,051, $20,390, $87.22 BUDGET/FUND BALANCE SUMMARY-ALL FUNDS Special Special Revenue Revenue Capital Debt Fund - Fund - Projects Service Proprietary General Fund Operational Nonaidable Fund Fund Fund Total Tax Levy $12,440,495 $1,100,000 $50,000 $0 $6,800,000 $0 $20,390,495 Other Budgeted Revenues $40,064,217 $9,190,801 $9,485,380 $570,250 $65,000 $4,424,261 $63,799,909 Subtotal $52,504,712 $10,290,801 $9,535,380 $570,250 $6,865,000 $4,424,261 $84,190,404 Budgeted expenditures $53,804,712 $10,286,425 $9,570,018 $9,130,000 $6,865,000 $4,395,578 $94,051,733 Excess of Revenues over Expenditures ($1,300,000) $4,376 ($34,638) ($8,559,750) $0 $28,683 ($9,861,329) Residual Equity Transfers $0 $0 $0 $0 $0 $0 $0 Operating Transfers $0 $0 ($300,000) $300,000 $0 $0 $0 Proceeds from Debt $0 $0 $0 $8,000,000 $0 $0 $8,000,000 Est Fund Balance 7/01/17 $13,163,884 $59,924 $1,442,751 $831,441 $564,506 $1,132,187 $17,194,693 Est Fund Balance 6/30/18 $11,863,884 $64,300 $1,108,113 $571,691 $564,506 $1,160,870 $15,333,364 (1) Equalized Valuation is projected to increase 3.4% in fiscal year (2) Fiscal years represent actual amounts; 2017 is projected; and 2018 is the proposed budget. 14

22 CHIPPEWA VALLEY TECHNICAL COLLEGE Notice of Public Hearing Budget Summary-General Fund Fiscal Year Actual(3) Budget Estimated(4) Budget REVENUES Local Government State Aids Program Fees Material Fees Other Student Fees Institutional Federal Total Revenues 11,466,477 12,017,460 12,041,626 23,263,894 23,410,731 23,506,431 13,333,300 13,708,331 13,858, , , , , , , , , ,832 28,118 25,000 25,000 50,325,846 51,321,522 51,474,289 12,440,495 23,572,299 14,358, , , ,000 25,000 52,504,712 EXPENDITURES Instruction Instructional Resources Student Services General Institutional Physical Plant Total Expenditures Net Revenue (Expenditures) 32,253,299 32,158,864 32,158, , , ,425 3,729,744 3,975,254 3,925,254 11,039,273 10,116,068 10,014,521 4,293,185 4,504,911 4,454,911 33,555, ,746 4,302,709 10,642,871 4,589,206 51,823,257 51,321,522 51,119,975 53,804,712 (1,497,411) 0 354,314 (1,300,000) OTHER SOURCES (USES) Residual Equity Transfer In (Out) Operating Transfer In (Out) Total Resources (Uses) 0 0 (1,497,411) , (1,300,000) TRANSFERS TO (FROM) FUND BALANCE Reserve for Operations Designated for Subsequent Years (1,497,411) 0 354,314 Total Transfers To (From) Fund Balance Beginning Fund Balance Ending Fund Balance EXPENDITURES BY FUND General Fund Special Revenue Fund-Operational Special Revenue Fund-Nonaidable Capital Projects Fund Debt Service Fund Enterprise Fund Internal Service Fund Total Expenditures by Fund (1,497,411) 14,306,981 12,809, ,809,570 12,809, ,314 12,809,570 13,163,884 51,823,257 12,825,516 9,057,437 6,092,025 7,003,201 3,242,411 1,110,853 51,321,522 13,339,878 9,572,362 7,486,177 6,878,576 3,260,943 1,125,000 51,119,975 13,339,878 8,774,618 7,486,177 6,878,576 3,119,509 1,115,000 91,154,700 92,984,458 91,833,733 0 (1,300,000) (1,300,000) 13,163,884 11,863,884 53,804,712 10,286,425 9,570,018 9,130,000 6,865,000 3,260,578 1,135,000 94,051,733 % Change (5) in Budget 4.84% % -0.02% 21.96% -0.20% -0.01% 0.89% 1.15% REVENUES BY FUND General Fund Special Revenue Fund-Operational Special Revenue Fund-Nonaidable Capital Projects Fund Debt Service Fund Enterprise Fund Internal Service Fund 50,325,846 12,773,854 9,007, ,522 6,900,850 3,084,631 1,103,485 51,321,522 13,347,617 9,462, ,168 6,860,576 3,368,011 1,125,000 51,474,289 13,347,617 9,085, ,892 6,830,000 3,141,194 1,115,000 Total Revenues by Fund 84,000,678 85,987,324 85,538,296 52,504,712 10,290,801 9,535, ,250 6,865,000 3,289,261 1,135,000 84,190, % % 0.77% 13.56% 0.06% -2.34% 0.89% -2.09% (3) Actual is presented on a budgetary basis. (4) Estimate is based upon 10 months of actual and 2 months of estimate. (5) ( budget budget) / budget. 15

23 GENERAL FUND BUDGETARY STATEMENT OF RESOURCES, USES AND CHANGES IN FUND BALANCE REVENUES Local - Property Tax State - Property Tax Relief Aid State Aids Program Fees Material Fees Other Student Fees Institutional Federal Total Revenues Actual* Budget Estimate** Budget 11,466,477 12,017,460 12,041,626 12,440,495 18,322,299 18,322,299 18,322,299 18,322,299 4,941,595 5,088,432 5,184,132 5,250,000 13,333,300 13,708,331 13,858,918 14,358, , , , , , , , , , , , ,000 28,118 25,000 25,000 25,000 50,325,846 51,321,522 51,474,289 52,504,712 EXPENDITURES Instruction Instructional Resources Student Services General Institutional Physical Plant Total Expenditures 32,253,299 32,158,864 32,158,864 33,555, , , , ,746 3,729,744 3,975,254 3,925,254 4,302,709 11,039,273 10,116,068 10,014,521 10,642,871 4,293,185 4,504,911 4,454,911 4,589,206 51,823,257 51,321,522 51,119,975 53,804,712 Net Revenue (Expenditures) (1,497,411) 0 354,314 (1,300,000) OTHER SOURCES (USES) Residual Equity Transfer In (Out) Operating Transfer In (Out) Total Resources (Uses) (1,497,411) 0 354,314 (1,300,000) TRANSFERS TO (FROM) FUND BALANCE Reserve for Operations Designated for Subsequent Years Total Transfers To (From) Fund Balance (1,497,411) 0 354,314 (1,300,000) (1,497,411) 0 354,314 (1,300,000) Beginning Fund Balance Ending Fund Balance 14,306,981 12,809,570 12,809,570 13,163,884 12,809,570 12,809,570 13,163,884 11,863,884 Fund Balance % of Expenditures 24.7% 25.0% 25.8% 22.0% *Actual is presented on a budgetary basis. **Estimate is based upon ten months of actual and two months of estimate. The General Fund is used to account for all financial activities except those required to be accounted for in another fund. 16

24 SPECIAL REVENUE FUND-OPERATIONAL BUDGETARY STATEMENT OF RESOURCES, USES AND CHANGES IN FUND BALANCE Actual* Budget Estimate** Budget REVENUES Local - Property Tax 1,000,000 1,000,000 1,000,000 1,100,000 State Aids 2,093,007 2,067,846 2,067,846 2,066,057 Other Student Fees 172, , , ,000 Institutional 734,737 1,010,000 1,010,000 1,060,000 Federal 8,773,635 9,079,771 9,079,771 5,844,744 Total Revenues 12,773,854 13,347,617 13,347,617 10,290,801 EXPENDITURES Instruction 10,280,202 10,841,862 10,841,862 7,694,619 Instructional Resources 0 6,080 6,080 62,957 Student Services 1,839,310 1,735,664 1,735,664 1,106,572 General Institutional 617, , ,984 1,355,448 Physical Plant 83,375 43,288 43,288 66,829 Auxiliary Services 4, Total Expenditures 12,825,516 13,339,878 13,339,878 10,286,425 Net Revenue (Expenditures) (51,662) 7,739 7,739 4,376 OTHER SOURCES (USES) Operating Transfer In (Out) Total Resources (Uses) (51,662) 7,739 7,739 4,376 TRANSFERS TO (FROM) FUND BALANCE Designated for Operations (51,662) 7,739 7,739 4,376 Total Transfers To (From) Fund Balance (51,662) 7,739 7,739 4,376 Beginning Fund Balance 103,847 52,185 52,185 59,924 Ending Fund Balance 52,185 59,924 59,924 64,300 *Actual is presented on a budgetary basis. **Estimate is based upon ten months of actual and two months of estimate. Special Revenue Funds-Operational are used to account for the proceeds and related financial activity of specific revenue sources that are legally restricted to specific purposes other than expendable trusts or major capital projects. 17

25 SPECIAL REVENUE FUND-NONAIDABLE BUDGETARY STATEMENT OF RESOURCES, USES AND CHANGES IN FUND BALANCE REVENUES Local - Property Tax Other Student Fees Institutional Federal Total Revenues Actual* Budget Estimate** Budget 52, , , , , , , , , ,300 7,823,498 8,103,250 7,668,120 8,053,250 9,007,490 9,462,430 9,085,304 9,535,380 EXPENDITURES Instruction Student Services General Institutional Total Expenditures 29,344 47,050 26,212 30,800 9,028,093 9,525,312 8,748,406 9,524, ,000 9,057,437 9,572,362 8,774,618 9,570,018 Net Revenue (Expenditures) (49,947) (109,932) 310,686 (34,638) OTHER SOURCES (USES) Operating Transfer In (Out) Total Resources (Uses) 0 (100,000) 0 (300,000) (49,947) (209,932) 310,686 (334,638) TRANSFERS TO (FROM) FUND BALANCE Reserve for Student Organizations Reserve for Student Fin'l Assistance Total Transfers To (From) Fund Balance (49,947) (209,932) 310,686 (334,638) (49,947) (209,932) 310,686 (334,638) Beginning Fund Balance Ending Fund Balance 1,182,012 1,132,065 1,132,065 1,442,751 1,132, ,133 1,442,751 1,108,113 *Actual is presented on a budgetary basis. **Estimate is based upon ten months of actual and two months of estimate. Special Revenue Funds-Nonaidable are used to account for assets held by a district as an agent for individuals, private organizations, other governmental units, or other funds. 18

26 CAPITAL PROJECTS FUND BUDGETARY STATEMENT OF RESOURCES, USES AND CHANGES IN FUND BALANCE REVENUES Actual* Budget# Estimate** Budget State Aids 380, , , ,250 Institutional 184, , , ,000 Federal 239, ,724 90,000 Total Revenues 804, , , ,250 EXPENDITURES Instruction 2,220,556 2,271,377 2,271,377 2,314,850 Instructional Resources 185, , , ,000 Student Services 5,895 4,800 4,800 8,000 General Institutional 1,639,906 1,952,000 1,952,000 1,346,000 Physical Plant 2,039,880 2,780,000 2,780,000 4,831,150 Total Expenditures 6,092,025 7,486,177 7,486,177 9,130,000 Net Revenue (Expenditures) (5,287,503) (6,984,009) (6,941,285) (8,559,750) OTHER SOURCES (USES) Proceeds from Debt 9,000,000 6,000,000 2,500,000 8,000,000 Operating Transfer In (Out) 0 100, ,000 Total Resources (Uses) 3,712,497 (884,009) (4,441,285) (259,750) TRANSFERS TO (FROM) FUND BALANCE Reserve for Capital Projects 3,712,497 (884,009) (4,441,285) (259,750) Total Transfers To (From) Fund Balance 3,712,497 (884,009) (4,441,285) (259,750) Beginning Fund Balance 1,560,229 5,272,726 5,272, ,441 Ending Fund Balance 5,272,726 4,388, , ,691 #Budget figures reflect appropriation changes as of May 25, *Actual is presented on a budgetary basis. **Estimate is based upon ten months of actual and two months of estimate. Capital Projects Funds are used to account for financial resources and related financial activity for the acquisition and improvement of sites and for the acquisition, construction, equipping and remodeling of buildings. 19

27 DEBT SERVICE FUND BUDGETARY STATEMENT OF RESOURCES, USES AND CHANGES IN FUND BALANCE Actual* Budget# Estimate** Budget REVENUES Local - Property Tax 6,800,000 6,800,000 6,800,000 6,800,000 Institutional 100,850 60,576 30,000 65,000 Total Revenues 6,900,850 6,860,576 6,830,000 6,865,000 EXPENDITURES Physical Plant 7,003,201 6,878,576 6,878,576 6,865,000 Total Expenditures 7,003,201 6,878,576 6,878,576 6,865,000 Net Revenue (Expenditures) (102,351) (18,000) (48,576) 0 OTHER SOURCES (USES) Proceeds from Debt Operating Transfer In (Out) Total Resources (Uses) (102,351) (18,000) (48,576) 0 TRANSFERS TO (FROM) FUND BALANCE Reserve for Debt Service (102,351) (18,000) (48,576) 0 Total Transfers To (From) Fund Balance (102,351) (18,000) (48,576) 0 Beginning Fund Balance 715, , , ,506 Ending Fund Balance 613, , , ,506 #Budget figures reflect appropriation changes as of May 25, *Actual is presented on a budgetary basis. **Estimate is based upon ten months of actual and two months of estimate. Debt Service Funds are used to account for the accumulation of resources for, and the payment of, general long-term debt and long-term lease purchase principal and interest. 20

28 ENTERPRISE FUND BUDGETARY STATEMENT OF RESOURCES, USES AND CHANGES IN FUND BALANCE REVENUES State Aids Institutional Total Revenues Actual* Budget Estimate** Budget 157, , , ,811 2,926,820 3,210,200 2,983,383 3,131,450 3,084,631 3,368,011 3,141,194 3,289,261 EXPENDITURES Auxiliary Services Total Expenditures 3,242,411 3,260,943 3,119,509 3,260,578 3,242,411 3,260,943 3,119,509 3,260,578 Net Revenue (Expenditures) (157,780) 107,068 21,685 28,683 OTHER SOURCES (USES) Residual Equity Transfer In (Out) Operating Transfer In (Out) Total Resources (Uses) (157,780) 107,068 21,685 28,683 TRANSFERS TO (FROM) FUND BALANCE Retained Earnings Total Transfers To (From) Fund Balance (157,780) 107,068 21,685 28,683 (157,780) 107,068 21,685 28,683 Beginning Fund Balance Ending Fund Balance 1,202,151 1,044,371 1,044,371 1,066,056 1,044,371 1,151,439 1,066,056 1,094,739 *Actual is presented on a budgetary basis. **Estimate is based upon ten months of actual and two months of estimate. Enterprise Funds are used to account for operations where the costs of providing goods or services to the student body, faculty and staff, or the general public are financed primarily through user fees. 21

29 INTERNAL SERVICE FUND BUDGETARY STATEMENT OF RESOURCES, USES AND CHANGES IN FUND BALANCE Actual* Budget Estimate** Budget REVENUES Institutional Total Revenues 1,103,485 1,103,485 1,125,000 1,125,000 1,115,000 1,115,000 1,135,000 1,135,000 EXPENDITURES Auxiliary Services Total Expenditures 1,110,853 1,110,853 1,125,000 1,125,000 1,115,000 1,115,000 1,135,000 1,135,000 Net Revenue (Expenditures) (7,368) OTHER SOURCES (USES) Residual Equity Transfer In (Out) Operating Transfer In (Out) Total Resources (Uses) 0 (7,368) TRANSFERS TO (FROM) FUND BALANCE Retained Earnings Total Transfers To (From) Fund Balance (7,368) (7,368) Beginning Fund Balance Ending Fund Balance 73,499 66,131 66,131 66,131 66,131 66,131 66,131 66,131 *Actual is presented on a budgetary basis. **Estimate is based upon ten months of actual and two months of estimate. Internal Service Funds are used to account for the financing and related financial activity of goods and services provided by one department to other departments of the district on a cost-reimbursement basis. 22

30 BUDGETED EXPENDITURES BY OBJECT LEVEL* BUDGET YEAR Personnel Expenses Salaries and Wages Fringe Benefits 35,171,164 15,535,485 $50,706,649 Current Expenses 27,350,084 Capital Outlay 9,130,000 Debt Service 6,865,000 Total Budgeted Expenditures $94,051,733 * Includes all funds. DEFINITIONS: Personnel Expenses: Payroll expenditures which include wages, health and dental insurance, long-term disability, group life insurance, retirement and social security contributions. Current Expenses: Expenditures incurred during the fiscal year in progress--examples are supplies, repairs, postage, consulting services, media services, utilities and insurances. Capital Outlay: Expenditures which result in the acquisition of fixed assets having a life of two or more years and a cost greater than $1,000. It is an expenditure for land, buildings, improvements to buildings, remodeling and major equipment. Debt Service: Interest and principal payments made against the outstanding long-term debt of bonds and notes payable and installment purchases. 23

31 Combined Budget Summary BUDGETARY STATEMENT OF RESOURCES, USES AND CHANGES IN FUND BALANCE Actual* Budget# Estimate** Budget REVENUES Local - Property Tax 19,318,977 19,817,460 19,841,626 20,390,495 State Aids 25,895,027 25,970,414 26,066,114 26,116,417 Program Fees 13,333,300 13,708,331 13,858,918 14,358,918 Material Fees 807, , , ,000 Other Student Fees 1,401,011 1,660,880 1,686,337 1,726,830 Institutional 6,380,488 6,832,218 6,459,686 6,774,750 Federal 16,864,823 17,208,021 16,815,615 14,012,994 Total Revenues 84,000,678 85,987,324 85,538,296 84,190,404 EXPENDITURES Instruction 44,783,401 45,319,153 45,298,315 43,595,449 Instructional Resources 693,544 1,050,505 1,050,505 1,407,703 Student Services 14,603,042 15,241,030 14,414,124 14,941,499 General Institutional 13,296,908 12,781,052 12,679,505 13,359,319 Physical Plant 13,419,641 14,206,775 14,156,775 16,352,185 Auxiliary Services 4,358,164 4,385,943 4,234,509 4,395,578 Total Expenditures 91,154,700 92,984,458 91,833,733 94,051,733 Net Revenue (Expenditures) (7,154,022) (6,997,134) (6,295,437) (9,861,329) OTHER SOURCES (USES) Proceeds from Debt 9,000,000 6,000,000 2,500,000 8,000,000 Residual Equity Transfer In (Out) Operating Transfer In (Out) Total Resources (Uses) 1,845,978 (997,134) (3,795,437) (1,861,329) TRANSFERS TO (FROM) FUND BALANCE Reserve for Capital Projects 3,712,497 (884,009) (4,441,285) (259,750) Reserve for Debt Service (102,351) (18,000) (48,576) 0 Retained Earnings (165,148) 107,068 21,685 28,683 Reserve for Student Organizations (49,947) (209,932) 310,686 (334,638) Reserve for Student Fin'l Assistance Reserve for Operations Designated for Subsequent Years (1,549,073) 7, ,053 (1,295,624) Total Transfers To (From) Fund Balance 1,845,978 (997,134) (3,795,437) (1,861,329) Beginning Fund Balance 19,144,152 20,990,130 20,990,130 17,194,693 Ending Fund Balance 20,990,130 19,992,996 17,194,693 15,333,364 EXPENDITURES BY FUND General 51,823,257 51,321,522 51,119,975 53,804,712 Special Revenue-Operational 12,825,516 13,339,878 13,339,878 10,286,425 Special Revenue-Nonaidable 9,057,437 9,572,362 8,774,618 9,570,018 Capital Projects 6,092,025 7,486,177 7,486,177 9,130,000 Debt Service 7,003,201 6,878,576 6,878,576 6,865,000 Enterprise 3,242,411 3,260,943 3,119,509 3,260,578 Internal Service 1,110,853 1,125,000 1,115,000 1,135,000 Total Expenditures by Fund 91,154,700 92,984,458 91,833,733 94,051,733 #Budget figures reflect appropriation changes as of May 25, *Actual is presented on a budgetary basis. **Estimate is based upon ten months of actual and two months of estimate. 24

32 PROFORMA BALANCE SHEET June 30, 2017 Governmental Fund Category Proprietary Fund Account Group Total Category Special Special Revenue- Revenue- Capital Debt Internal Fixed Long-Term (Memorandum CURRENT ASSETS General Operational Non-aidable Projects Service Enterprise Service Assets Obligations Only) Cash and Cash Equivalents $ 8,425,285 $ 142,140 $ 1,114,749 $ 1,031,644 $ 564,506 $ 732,531 $ - $ - $ - $ 12,010,855 Property Taxes Receivable 6,561, ,561,567 Accounts Receivable 1,416,275 2,558,486 26, , ,161 5, ,562,940 Inventory ,529 73, ,058 Prepaid Items 216,627 29, ,433 Due From Other Funds , , ,690 Capital Assets, Less Depreciation ,335 22,146 62,601,222-62,824,703 Amt to be Provided for Debt Service ,145,000 31,145,000 Amt Available for Debt Service Total Assets $ 16,619,754 $ 2,730,432 $ 1,631,409 $ 1,314,860 $ 564,506 $ 1,221,556 $ 148,507 $62,601,222 $ 31,145,000 $ 117,977,246 LIABILITIES Accounts Payable $ 527,824 $ 2,658,069 $ 182,280 $ 483,419 $ - $ 117,109 $ 78,064 $ - $ - $ 4,046,765 Accrued Payroll 2,390,356 12,439 6, ,391 4, ,451,876 Due to Other Funds 537, ,690 Debt Service Payable ,145,000 31,145,000 Total Liabilities $ 3,455,870 $ 2,670,508 $ 188,658 $ 483,419 $ - $ 155,500 $ 82,376 $ - $ 31,145,000 $ 38,181,331 FUND EQUITY General Fixed Assets $ - $ - $ - $ - $ - $ - $ - $62,601,222 $ - $ 62,601,222 Retained Earnings ,066,056 66, ,132,187 Fund Balance: Reserve for Student Organizations - - 1,256, ,256,161 Reserve for Std Fin'l Assistance , ,927 Reserve for Capital Projects , ,441 Reserve for Debt Service , ,506 Unreserved: Designated for Operations 13,163,884 59, , ,383,471 Total Fund Equity $ 13,163,884 $ 59,924 $ 1,442,751 $ 831,441 $ 564,506 $ 1,066,056 $ 66,131 $62,601,222 $ - $ 79,795,915 Total Liability & Fund Equity $ 16,619,754 $ 2,730,432 $ 1,631,409 $ 1,314,860 $ 564,506 $ 1,221,556 $ 148,507 $62,601,222 $ 31,145,000 $ 117,977,246 25

33 CAPITAL PROJECTS LISTING Description Amount Campus Addition $ 1,500,000 Remodeling Campuses 2,820,000 Instructional Equipment used in Programs 2,314,850 Administrative Computer Software/Hardware 662,750 Instructional Computer Software/Hardware 542,250 Multimedia Classrooms 630,000 Administrative Equipment 24,000 Equipment for Physical Plant 336,150 Office and Classroom Furniture 300,000 $ 9,130,000 26

34 SCHEDULE OF LONG-TERM OBLIGATIONS General Obligation Promissory Notes (10 Years), Robert W. Baird, issued 6/30/08 for $5,000,000 for facility and non-facility remodeling and improvements, and to acquire equipment. Interest at 3.00%-4.00%, payable semi-annually April and October, beginning April 1, Principal payments are due April 1 of each year, beginning April 1, 2009, until maturity on April 1, FISCAL YEAR PRINCIPAL INTEREST TOTAL ,000 4, ,000 Total Payments Due $100,000 $4,000 $104,000 General Obligation Promissory Notes (8 Years), Robert W. Baird, issued 6/29/10 for $3,500,000 for facility and non-facility remodeling and improvements, and to acquire equipment. Interest at 1% to 2.8%, payable semi-annually April and October, beginning April 1, Principal payments are due April 1 of each year, beginning April 1, 2011, until maturity on April 1, FISCAL YEAR PRINCIPAL INTEREST TOTAL ,000 5, ,880 Total Payments Due $210,000 $5,880 $215,880 General Obligation Promissory Notes (9 Years), Robert W. Baird, issued 3/10/11 for $2,475,000 for facility and non-facility remodeling and improvements, and to acquire equipment and land. Interest at 2% to 3%, payable semi-annually April and October, beginning April 1, Principal payments are due April 1 of each year, beginning April 1, 2012, until maturity on April 1, FISCAL YEAR PRINCIPAL 235, , ,000 INTEREST 16,975 11,100 5,700 TOTAL 251, , ,700 Total Payments Due $605,000 $33,775 $638,775 General Obligation Promissory Notes (8 Years), Robert W. Baird, issued 6/09/11 for $3,500,000 for facility and non-facility remodeling and improvements, and to acquire equipment. Interest at 1.75% to 3%, payable semi-annually April and October, beginning April 1, Principal payments are due April 1 of each year, beginning April 1, 2012, until maturity on April 1, FISCAL YEAR PRINCIPAL INTEREST TOTAL ,000 19, , ,000 6, ,300 Total Payments Due $730,000 $26,250 $756,250 27

35 SCHEDULE OF LONG-TERM OBLIGATIONS General Obligation Promissory Notes (8 Years), Robert W. Baird, issued 07/11/11 for $2,490,000 for facility and non-facility remodeling and improvements, to acquire equipment, and to acquire property. Interest at 0.6% to 2.45%, payable semi-annually April and October, beginning April 1, Principal payments are due April 1 of each year, beginning April 1, 2012, until maturity on April 1, FISCAL YEAR PRINCIPAL INTEREST TOTAL ,000 12, , ,000 4, ,043 Total Payments Due $545,000 $16,256 $561,256 General Obligation Promissory Notes (8 Years), Robert W. Baird, issued 06/14/12 for $3,400,000 for facility and non-facility remodeling and improvements, and to acquire equipment. Interest at 1.5% to 2%, payable semi-annually April and October, beginning April 1, Principal payments are due April 1 of each year, beginning April 1, 2013, until maturity on April 1, FISCAL YEAR PRINCIPAL 500, , ,000 INTEREST 22,800 12,800 2,700 TOTAL 522, , ,700 Total Payments Due $1,140,000 $38,300 $1,178,300 General Obligation Promissory Notes (8 Years), Robert W. Baird, issued 05/9/13 for $2,000,000 for facility and non-facility remodeling and improvements, and to acquire equipment. Interest at 1% to 2%, payable semi-annually April and October, beginning April 1, Principal payments are due April 1 of each year, beginning April 1, 2014, until maturity on April 1, FISCAL YEAR PRINCIPAL INTEREST TOTAL ,000 16, , ,000 12, , ,000 8, , ,000 4, ,000 Total Payments Due $890,000 $40,350 $930,350 General Obligation Promissory Notes (8 Years), Robert W. Baird, issued 07/16/13 for $4,980,000 for facility and non-facility remodeling and improvements, and to acquire equipment. Interest at 2% to 2.25%, payable semi-annually April and October, beginning April 1, Principal payments are due April 1 of each year, beginning April 1, 2014, until maturity on April 1, FISCAL YEAR PRINCIPAL INTEREST TOTAL ,000 25, , ,000 9, , ,000 6, , ,000 3, ,375 Total Payments Due $1,230,000 $45,125 $1,275,125 28

36 SCHEDULE OF LONG-TERM OBLIGATIONS General Obligation Promissory Notes (8 Years), Robert W. Baird, issued 07/09/14 for $4,425,000 for facility and non-facility remodeling and improvements, and to acquire equipment. Interest at 1% to 3%, payable semi-annually April and October, beginning April 1, Principal payments are due April 1 of each year, beginning April 1, 2014, until maturity on April 1, FISCAL YEAR PRINCIPAL 790, , , , ,000 INTEREST 44,356 28,566 12,356 8,356 4,356 TOTAL 834, , , , ,356 Total Payments Due $2,205,000 $97,990 $2,302,990 General Obligation Promissory Notes (10 Years), Robert W. Baird, issued 08/05/14 for $4,395,000 for facility and non-facility remodeling and improvements, construction of buildings, and to acquire equipment. Interest at 2% to 2.5%, payable semi-annually April and October, beginning October 1, Principal payments are due April 1 of each year, beginning April 1, 2015, until maturity on April 1, FISCAL YEAR PRINCIPAL INTEREST TOTAL ,000 55, , ,000 43, , ,000 31, , ,000 24, , ,000 17, , ,000 10, , ,000 5, ,000 Total Payments Due $2,695,000 $187,500 $2,467,500 General Obligation Promissory Notes (8 Years), Robert W. Baird, issued 09/10/14 for $1,500,000 for facility and non-facility remodeling and improvements. Interest at 0.05% to 2.05%, payable semi-annually April and October, beginning October 1, Principal payments are due April 1 of each year, beginning April 1, 2015, until maturity on April 1, FISCAL YEAR PRINCIPAL INTEREST TOTAL ,000 18, , ,000 16, , ,000 12, , ,000 8, , ,000 4, ,305 Total Payments Due $980,000 $59,600 $1,039,600 29

37 SCHEDULE OF LONG-TERM OBLIGATIONS General Obligation Promissory Notes (8 Years), Robert W. Baird, issued 10/08/14 for $1,500,000 for facility and non-facility remodeling and improvements, and to acquire equipment. Interest at 0.05% to 2.125%, payable semi-annually April and October, beginning October 1, Principal payments are due April 1 of each year, beginning April 1, 2015, until maturity on April 1, FISCAL YEAR PRINCIPAL INTEREST TOTAL 200,000 14, , ,000 10, , ,000 6, , ,000 4, , ,000 2, ,125 Total Payments Due $700,000 $36,625 $736,625 General Obligation Promissory Notes (8 Years), Robert W. Baird, issued 11/05/14 for $1,500,000 for facility and non-facility remodeling and improvements. Interest at 1% to 2%, payable semi-annually April and October, beginning October 1, Principal payments are due April 1 of each year, beginning April 1, 2015, until maturity on April 1, FISCAL YEAR PRINCIPAL INTEREST TOTAL 165,000 15, , ,000 13, , ,000 11, , ,000 7, , ,000 3, ,800 Total Payments Due $905,000 $51,700 $956,700 General Obligation Promissory Notes (8 Years), Robert W. Baird, issued 7/9/15 for $4,000,000 for facility and non-facility remodeling and improvements, and to acquire equipment. Interest at 1% to 2%, payable semi-annually April and October, beginning October 1, Principal payments are due April 1 of each year, beginning April 1, 2016, until maturity on April 1, FISCAL YEAR PRINCIPAL INTEREST TOTAL 540,000 53, , ,000 46, , ,000 38, , ,000 27, , ,000 15, , ,000 4, ,000 Total Payments Due $2,995,000 $184,300 $3,179,300 30

38 SCHEDULE OF LONG-TERM OBLIGATIONS General Obligation Promissory Notes (7 Years), Robert W. Baird, issued 8/4/15 for $1,500,000 for facility and non-facility remodeling and improvements, and to acquire equipment. Interest at 1% to 2%, payable semi-annually April and October, beginning October 1, Principal payments are due April 1 of each year, beginning April 1, 2016, until maturity on April 1, FISCAL YEAR PRINCIPAL 475, , ,000 INTEREST 23,850 16,725 9,600 TOTAL 498, , ,600 Total Payments Due $1,430,000 $50,175 $1,480,175 General Obligation Promissory Notes (8 Years), Robert W. Baird, issued 6/22/16 for $3,500,000 for facility and non-facility remodeling and improvements, and to acquire equipment. Interest at 1.25% to 2%, payable semi-annually April and October, beginning October 1, Principal payments are due April 1 of each year, beginning April 1, 2019, until maturity on April 1, FISCAL YEAR PRINCIPAL INTEREST TOTAL ,012 47, ,000 47, , ,000 39, , ,000 31, , ,000 23, , ,000 14, , ,000 4, ,000 Total Payments Due $3,500,000 $207,138 $3,707,138 General Obligation Promissory Notes (10 Years), Robert W. Baird, issued 8/2/16 for $2,500,000 for facility and non-facility remodeling and improvements, and to acquire equipment. Interest at 0.75% to 1.625%, payable semi-annually April and October, beginning April 1, Principal payments are due April 1 of each year, beginning April 1, 2017, until maturity on April 1, FISCAL YEAR PRINCIPAL INTEREST TOTAL ,000 27, , ,000 26, , ,000 23, , ,000 19, , ,000 15, , ,000 11, , ,000 6, , ,000 4, , ,000 2, ,437 Total Payments Due $2,285,000 $137,613 $2,422,613 31

39 SCHEDULE OF LONG-TERM OBLIGATIONS General Obligation Promissory Notes (8 Years), Robert W. Baird, issued 6/15/17 for $5,000,000 for facility and non-facility remodeling and improvements, and to acquire equipment. Interest at 1% to 2%, payable semi-annually April and October, beginning April 1, Principal payments are due April 1 of each year, beginning April 1, 2018, until maturity on April 1, FISCAL YEAR PRINCIPAL INTEREST TOTAL ,352 63, ,000 86, , ,000 82, , ,000 72, , ,000 59, , ,000 41, , ,000 23, , ,000 5, ,300 Total Payments Due $5,000,000 $434,702 $5,434,702 General Obligation Promissory Notes (10 Years), Robert W. Baird, to be issued for $3,000,000 for facility and non-facility remodeling and improvements, new facilities, and to acquire equipment. Interest at an estimate of 2%, payable semi-annually April and October, beginning April 1, Principal payments are due April 1 of each year, beginning April 1, 2018, until maturity on April 1, FISCAL YEAR PRINCIPAL INTEREST TOTAL , , , , , , ,000 83, , ,000 63, , ,000 45, , ,000 31, , ,000 16, , ,000 10, , ,000 6, , ,000 2, ,125 Total Payments Due $3,000,000 $540,232 $3,540,232 32

40 COMBINED SCHEDULE OF LONG-TERM OBLIGATIONS FISCAL YEAR PRINCIPAL INTEREST TOTAL ,195, ,394 6,738, ,045, ,590 6,538, ,875, ,365 5,368, ,225, ,749 4,499, ,940, ,487 4,131, ,750, ,188 2,863, ,870,000 56,050 1,926, ,000 20, , ,000 8, , ,000 2, ,125 Total Payments Due $31,145,000 $2,197,511 $33,342,511 Combined Schedule of Long-Term Obligations * 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 PRINCIPAL INTEREST *Existing Debt Only 33

41 DEBT LIMIT Budget Year The aggregate indebtedness of the District may not exceed 5% of the equalized value of the taxable property located in the District per s.67.03(1), Wis. Stats. For FY18, the projected computation of legal debt margin is as follows: FY17 Equalized Valuation $ 22,604,603,466 Projected Change in Valuation x 103.4% FY18 Projected Equalized Valuation 23,379,603,466 Debt Limit Percent x 5% Debt Limit 1,168,980,173 Gross Indebtedness Applicable to Debt Limit $ 23,145,000 Less Projected Assets Available 539,820 Total Amount of Debt Applicable to Debt Limit 22,605,180 Legal Debt Margin $ 1,146,374,993 The bonded indebtedness of the District may not exceed 2% of the equalized value of the taxable property located in the District per s.67.03(9), Wis. Stats. For FY18, the computation of legal debt margin is as follows: FY18 Projected Equalized Valuation Debt Limit Percent $ 23,379,603,466 x 2% Debt Limit 467,592,069 Gross Indebtedness Applicable to Debt Limit $ - Less Projected Assets Available - Total Amount of Debt Applicable to Debt Limit - Legal Debt Margin $ 467,592,069 34

42 \--r.--,. / DUNN... C>ilf!> WV SUPPLEMENTAL DATA

43 Tax Levy, Equalized Valuations and Mill Rates Actual % Actual % Actual % Estimated % Fund Change Change Change Change General 10,831,693 11,441,090 12,041,626 12,440,495 Special Revenue - Operational 1,100,000 1,000,000 1,000,000 1,100,000 Special Revenue - Nonaidable 52,500 52,500-50,000 Operational Tax Levy 11,984, % 12,493, % 13,041, % 13,590, % Debt Service 6,800,000 6,800,000 6,800,000 6,800,000 Total Tax Levy 18,784, % 19,293, % 19,841, % 20,390, % Mill Rates Operations Debt Service Total Mill Rate % % % % Property Values Equalized Valuation * 20,931,041, % 21,767,542, % 22,604,603, % 23,379,603, % CHIPPEWA VALLEY TECHNICAL COLLEGE DISTRICT - Clark County less the portion of the Granton, Loyal, Colby, Black River Falls, Spencer, Pittsville, Abbotsford and Marshfield school districts; Dunn, Pepin, Pierce, Eau Claire and Chippewa counties; plus the portion of Mondovi, Durand and Alma school districts in Buffalo County, Gilmanton School District in Buffalo and Trempealeau counties; Osseo-Fairchild School District in Jackson and Trempealeau counties; Eleva-Strum School District in Trempealeau County; Stanley-Boyd, Thorp, Owen-Withee, Flambeau and Gilman school districts in Taylor County; Alma Center School District in Jackson County; and River Falls and Spring Valley school districts in St. Croix County. *The value of property as determined by the Wisconsin Department of Revenue. This will not necessarily be the same as the assessed value because of the different assessment rates in the 204 municipalities making up the District. 35

44 BUDGET SUMMARY Resources Resources by Category Budget Local - Property Tax 20,390,495 State Aids 26,116,417 Program Fees 14,358,918 Material Fees 810,000 Other Student Fees 1,726,830 Institutional 6,774,750 Federal 14,012,994 Proceeds from Debt 8,000,000 Total Resources 92,190,404 Property Tax State Aids Program Fees Material Fees Student Fees Institutional Federal Debt 1% 2% 7% 9% 16% 15% 22% 28% 0% 5% 10% 15% 20% 25% 30% Property Tax Impact: The tax rate for the budget is $0.87 per thousand dollars of valuation, including 0.58 for operations and 0.29 for debt service. The tax rate for the budget was $0.88 per $1,000 of valuation. The equalized value is determined by the Wisconsin Department of Revenue using the full value of the taxable property in a district (less tax incremental financing districts). A formula is used that standardizes property values across all municipalities. The municipalities are billed based on a mill rate (taxes billed per $1,000 of valuation). Each city, town and village bill the taxpayers based on assessed valuation. Rates can vary among municipalities within a district. Therefore municipalities mill rate to the taxpayer may be higher or lower than the rate billed to the municipality. The projected annual tax payment by the owner to support the educational programs at Chippewa Valley Technical College for will be $0.87 per $1,000 of equalized valuation. 36

45 BUDGET SUMMARY Expenditures by Fund Expenditures by Fund Budget General 53,804,712 Special Revenue Operational Special Revenue Nonaidable 10,286,425 9,570,018 Capital Projects 9,130,000 Debt Service 6,865,000 Enterprise 3,260,578 Internal Service 1,135,000 Total All Funds 94,051,733 General Sp. Rev Operational Sp. Rev Non-Aid Capital Debt Enterprise Internal Svc. ] ] iii... 1% 14% Debt 7% 11% 10% Capital 10% 57% 0% 10% 20% 30% 40% 50% 60% General Fund - used to account for all functional activities except those required to be accounted for in another fund. Special Revenue-Operational Fund - used to account for the proceeds and related financial activity of specific revenue sources that are legally restricted to specific purpose other than expendable trusts or major capital projects. Special Revenue-Nonaidable Fund - used to account for assets held by a district in a trustee capacity or as an agent for individuals, private organizations, other governmental units or other funds. Capital Projects Fund - used to account for financial resources and related financial activity for the acquisition and improvement of sites and for the acquisitions, construction, equipping and renovation of buildings. Debt Service Fund - used to account for the accumulation of resources for, and payment of, general long-term debt principal and interest. Enterprise Fund - used to account for operations where the costs of providing goods or services to the student body, faculty and staff, or the general public are financed primarily through user fees. 37

46 BUDGET SUMMARY Expenditures by Function Expenditures by Function Budget Instruction 43,595,449 Instructional 1,407,703 Resources Student Services 14,941,499 General Institutional 13,359,319 Physical Plant 16,352,185 Auxiliary Services 4,395,578 Total All Functions 94,051,733 Instruction Instructional Res. Student Svcs. General Institutional Physical Plant Auxiliary Svcs. 2% - 0% 10% 20% 30% 40% 50% 5% 16% 14% 17% ' I ' I 46% Instruction - This function includes teaching, academic administration, including clerical support, and other activities related directly to the teaching of students, guiding the students in the educational program, and coordination and improvement of teaching. Instructional Resources - This function includes all learning resource activities such as the library and audio-visual aids center, learning resource center, instructional media center, instructional resources administration, and clerical support. Student Services - This function includes those non-instructional services provided for the student body such as student recruitment; student services administration and clerical support; admissions; registration; counseling; including testing and evaluation; health services; financial aids; placement; and follow up. General Institutional - This function also includes all services benefiting the entire college, exclusive of those chargeable directly to other functional categories. Examples of this type of expenditure are legal fees, external audit fees, general liability insurance, interest on operational borrowing, and public information. General personnel, employment relations, and affirmative action programs are included in this function. Physical Plant - This function includes all services required for the operation and maintenance of the physical facilities. Principal and interest on long-term obligations are included under this function as are the general utilities such as heat, light and power. Auxiliary Services - This function includes commercial-type activities. Examples are bookstore, cafeteria, and vending machines. 38

47 TOTAL ACTUAL COSTS PER FTE BY DISTRICT Nicolet Indianhead 19,734 24,954 Waukesha Lakeshore 17,015 16,904 Gateway Chippewa Valley Blackhawk Madison 16,158 16,129 15,984 15,819 CVTC Statewide Milwaukee Fox Valley Western Moraine Park Southwest Mid-State 15,635 15,573 15,425 15,316 15,297 14,683 14,171 State Avg. Northeast Northcentral 13,414 13,092 12,000 13,000 14,000 15,000 16,000 17,000 18,000 19,000 20,000 21,000 22,000 23,000 24,000 25,000 Source: WTCS Cost Allocation Schedule A-5, Total Actual Costs per FTE by District 39

48 Chippewa Valley Technical College FTEs 4,600 4,500 4,468 4,400 4,348 4,300 4,272 4,230 Fiscal Year 4,200 4,100 4,135 4,087 4,000 3,950 3,900 3,800 3,700 3,600 FY12 FY13 FY14 FY15 FY16 FY17 (Est.) FY18 (Proj.) FTEs 40

49 Chippewa Valley Technical College Unduplicated Headcount 17,000 16,750 16,500 16,159 16,329 16,200 16,000 Fiscal Year 15,500 15,000 15,677 15,605 15,093 14,500 14,000 FY12 FY13 FY14 FY15 FY16 FY17 (Est.) FY18 (Proj.) Headcount 41

50 CREDIT PROGRAM OFFERINGS Associate Degree 39 programs Accounting Agronomy Management Air Conditioning, Heating, & Refrigeration Technology Alcohol and Other Drug Abuse Animal Science Management Architectural Structural Design Automation Engineering Technology Business Management Criminal Justice Dental Hygienist Diagnostic Medical Sonography Digital Marketing Early Childhood Education Executive Assistant Fire Medic Health Information Mgmt. & Technology Human Resources Individualized Technical Studies Industrial Mechanical Technician IT Mobile Developer IT - Network Specialist IT Software Developer Landscape, Plant and Turf Management Liberal Arts - Associate of Science Library & Information Services Manufacturing Engineering Technologist Marketing Mechanical Design Medical Laboratory Technician Nursing Organizational Leadership Paralegal Paramedic Technician Physical Therapist Assistant Professional Communications Radiography Respiratory Therapy Sales Management Technical Studies-Journey Worker Technical Diploma 32 programs Accounting Assistant Auto Collision Repair/Refinish Technician Automotive Maintenance Technician Automotive Technician Central Services Technician Child Care Services Cosmetology Criminal Justice-Law Enforcement Academy Dental Assistant Diesel Truck Technician Electrical Power Distribution Electromechanical Maintenance Technician Emergency Medical Technician EMT Entrepreneurship Environmental Ref, Air Cond. & Heating Service Tech Farm Business & Production Management Farm Operation Industrial Mechanic Machine Tool Operator Machine Tooling Technics Medical Assistant Motorcycle, Marine & Outdoor Power Products Tech Nail Technician Nursing Assistant Office Assistant Paralegal Post-Baccalaureate Pharmacy Technician Residential Construction Surgical Technologist Truck Driving Welding Welding Fabrication Apprenticeship (7 options) 42

51 Campus Locations Business Education Center Health Education Center 620 West Clairemont Avenue 615 West Clairemont Avenue Eau Claire, WI Eau Claire, WI Emergency Svs Education Center Manufacturing Education Center 3623 Campus Road 2320 Alpine Road Eau Claire, WI Eau Claire, WI Applied Technology Center Chippewa Falls Campus 2322 Alpine Road 770 Scheidler Road Eau Claire, WI Chippewa Falls, WI

52 Campus Locations Continued Energy Education Campus Fire Safety Center 4000 Campus Road 3617 Campus Road Eau Claire, WI Eau Claire, WI Diesel Education Center River Falls Campus 2710 Arbor Court 500 South Wasson Lane Eau Claire, WI River Falls, WI Neillsville Center Menomonie Campus 11 Tiff Avenue 403 Technology Drive East Neillsville, WI Menomonie, WI

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