Board of Governors May 2013

Transcription

1 Board of Governors May 2013 May 8: Present the proposed budget for Board approval to publish according to statutory guidelines. May 24: Publish the proposed budget and first Truth in Taxation notice in the Arizona Daily Star and on the College Website along with notice of the public hearing and special board meeting. June 4: Publish the proposed budget and second Truth in Taxation notice in the Arizona Daily Star along with notice of the public hearing and special board meeting. June 12: Conduct a public hearing on the proposed budget and conduct a special board meeting for the purpose of adopting the budget. June 14: Transmit required Truth in Taxation information to the Property Tax Oversight Commission.

2 State Aid $7.1 College Equity $38.3 Other Revenue $6.1 Property Tax Revenue $97.8 Tuition & Fees $55.8 Grants, Contracts, Financial Aid $78.9

3 Tax Levy Primary Growth of 1.88%, $1.8 million Levy Increase of 2.0%, $1.9 million Secondary Decrease of $676,000 Tuition and Fees Increase In state tuition from $63.50 per unit to $65.50 per unit Eliminate discounted rate for Out of State Tuition (<7 units) Out of State Tuition (7+ units): from $319 to $329 per unit $0.50 increase per unit to Student Services fee $0.50 increase per unit to Technology fee State Funding: $217,000 decrease No Capital funding 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014* Property Taxes 36% 37% 39% 39% 41% 43% 35% 32% 32% 34% Tuition & Fees 15% 17% 17% 17% 17% 18% 18% 19% 19% 20% Grants & Contracts 19% 15% 16% 15% 14% 8% 7% 11% 9% 8% Financial Aid 10% 10% 9% 8% 8% 11% 19% 22% 21% 21% Fund Balance 8% 8% 7% 7% 9% 11% 15% 12% 15% 13% State Aid (Operations + Capital) 11% 11% 11% 10% 8% 8% 6% 2% 2% 3% Other Revenue 2% 2% 3% 3% 3% 2% 1% 1% 1% 1% *

4 $325,000 $300,000 $275,000 $250,000 $225,000 $200,000 $175,000 $150,000 $125,000 $100,000 Financial Aid Grants & Contracts Fund Balance Other Revenue State Aid (Operations + Capital) Tuition & Fees Property Taxes $75,000 $50,000 $25,000 $ FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014* * $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 $0.00 Coconino Mohave Pima Navajo Maricopa Cochise Yavapai Yuma/La Paz Pinal Graham Primary Tax Rate Secondary Tax Rate

5 FY12 FY13 Net Taxable Value Current Year ($100s) $ 83,101,202 $ 80,739,377 $ 75,591,291 Overall in Valuation 7.04% 2.84% 6.38% from New Property 1.33% 0.86% 1.88% Average change in Valuation 8.26% 3.67% 8.10% Estimated Primary Tax Rate Authorization in Tax Rate 11.2% 5.9% 11.0% Estimated Secondary Tax Rate Authorization in Tax Rate 77.4% 4.0% 27.2%

6 FY12 FY13 Reassessed Residential Property Summary Property Value $ 100,000 Assessment Ratio 0.10 Assessed Value 10,000 $ 100, ,000 $ 100, ,000 $ 93, ,362 PCC Combined Taxes Due $ % $ % $ % $ % Commercial Property Summary Property Value $ 100,000 Assessment Ratio 0.20 Assessed Value 20,000 $ 100, ,000 $ 100, ,500 $ 93, ,256 PCC Combined Taxes Due $ % $ % $ % $ % *Assumes FCV and Limited Value are identical for both residential and commercial property examples Year Per Unit $ % 04/05 * % 05/ % 06/ % 07/08 ** % 08/09 *** % 09/ % 10/11 **** % 11/ % 12/ % 13/14 # % $120 $100 * Student Services Fee added, $2.50 per unit ** Technology Fee added, $2.00 per unit *** Student Services Fee reduced by $0.50 to $2.00 **** Student Services Fee increased by $0.50 to $2.50 per unit # Student Services Fee increased by $0.50 to $3.00 per unit, and Technology Fee increased by $0.50 to $2.50 per unit $80 $60 $40 $20 $0 04/05 05/06 06/07 07/08 08/09 09/10 10/11 11/12 12/13 13/14 PCC $ per unit Avg. of AZ Community Colleges $ per unit Indexed Avg. of AZ Universities Indexed Avg. of AZ Community Colleges

7 FY13 Property Tax Levy $ 94.8 $ 97.8 $ 3.0 State Aid Appropriation Tuition and Fees Other Revenue Investment Income Grants and Contracts College Equity Total Resources $ $ $ 14.9

8 Mandatory Cost Increases examples Retirement Costs ASRS rate change from 11.14% to 11.54% Health Benefits Systems Licenses and Maintenance Fees Utilities College Priorities Athletics Information Technology Adult Basic Education College Safety and Security Salary Pool Increases Restricted Fund $80.04 Capital Fund $23.64 Designated Fund $15.10 Auxiliary Fund $2.11 Debt Service Fund $1.42 General Fund $161.70

9 FY13 Property Tax Levy $ 92.7 $ 96.4 $ 3.7 State Aid 4.4% College Equity 6.7% Other Revenue 0.5% State Aid Tuition and Fees Tuition and Fees 28.8% Other Revenue College Equity Total Resources $ $ $ 0.2 Property Tax Levy 59.6% FY13 Admin Faculty $ $ $ Staff Classified Other Compensation / Adjunct Faculty Fringe Subtotal Operations Capital Transfers (net) Reserves Total 6.6 $ $ $ 0.2

10 FY13 Professional Development $1.0 $ 1.0 $ 0.0 Athletics Course Fees Academic Programs Center for Training & Development Contract Training Prison Program Public Safety Institute Community Education Other Reserves Total $ 16.4 $ 15.1 $ 1.3 FY13 Revenues $ 2.2 $ 2.1 $ 0.1 Food Service Business Relations Rentals Transfers Reserves and Other Total $ 2.2 $ 2.1 $ 0.1

11 FY13 FY 14 Student Financial Aid $ 64.7 $ 57.4 $ 7.3 Workforce Development (Prop 301) Grants Health Prof Opportunity Grant Adult Education Title III Improving graduation rates, particularly STEM Title V Developing Hispanic Serving Institutions TRIO (Upward Bound, Student Support Svcs, Talent Search) Adelante Performance Based Award Trade Adjustment Assistance Other New Grants Total $ 89.6 $ 80.0 $ 9.6 Budget Year Projects FY 13 FY 14 General Capital Projects $ 9.4 $ 10.8 Technology Fee Projects Proposition 301 Projects Grant Funded Projects Contract/Auxiliary Projects Special Projects Total Budget Year Projects $ 18.6 $ 14.7 Carry Forward Projects Reserves Total All Projects $ 44.1 $ 36.9 Less Transfers from Other Funds Proposition 301 Funding General Fund Transfer Other Funds Support Net Budget $ 27.1 $ 23.6

12 FY13 FY 14 General Obligation $ 2.1 $ 1.4 $ 0.7 Lease Payment (U of A Building) Total Expenses Transfers from General Fund Total Budget $ 2.1 $ 1.4 $ 0.7