State of Illinois. Rock Valley College Community College District 511. Financial Plan Model FYs 13, 14, & 15

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1 3301 North Mulford Road Rockford, IL State of Illinois Rock Valley College Community College District 511 Financial Plan Model FYs 13, 14, & 15 FINAL Fiscal Year 2013 Budget Beginning July 1, Ending June 30, 2013 Submitted to the Board of Trustees: June 26, 2012 Public Hearing by the Board of Trustees: September 25, 2012 Prepared by: Jennifer Porter and Richard Bergmark Director Financial Services Budget Manager Presented by: Sam E. Overton, Jr. VP of Administrative Services & Treasurer Dated: September 25, 2012

2 Statement of Revenues and Expenses (Budgetary) Table of Contents Page # All Funds Review: Net by Fund by Year 3 Operating Funds Net by Year (Chart) 4 Comparison Year by Year 5 Financial Planning Model (FPM13) Narrative 6 Board Finance Committee 08/28/2012 Recommendation for Deficit Reduction 7 Operating Funds: Operating Statement of Revenues and Expenditures 8 All Funds Revenues Comparison 9 Operating Revenues by Object (as % by Total Revenues) Chart 10 Operating Revenues Summary 11 All Funds Expenditures Comparison 12 Operating Expenditures by Object (as % of Total Expenditures) Chart 13 Operating Expenditures Summary 14 Operating Expenditures by Function (as % of Total Expenditures) Chart 15 Effect of Student Financial Aid Pass-Through Capital Funds: Major Capital Projects Narrative 18 Capital Expenditures Detail by Project 19 ICCB Official documents: Summary of Fiscal Year 2013 Budget by Fund 20 Education Fund Statement of Revenues and Expenditures 21 Education Fund Statement of Revenues and Expenditures by Function Code Fiscal Year 2013 Budget 25-26

3 Net by Fund by Year Some "Yellow" worth noting - Prior year's operating deficit and future year's (based on conservative revenue and realistic expenditures) - Capital Fund Balance will decrease to zero as existing bond proceeds are invested in capital improvements ALL RVC FUNDS FY 01 Actual FY 02 Actual FY 03 Actual FY 04 Actual FY 05 Actual FY 06 Actual FY 07 Actual FY 08 Actual FY 09 Actual FY 10 Actual FY 11 Actual FY 12 Budget FY 13 Budget FY 14 Proposed FY 15 Proposed Fund # Description Per Audit CAFR CAFR CAFR CAFR CAFR CAFR CAFR CAFR CAFR CAFR 01 Education (4,329,956) - (1,396,851) 808,705 1,547,962 $ 1,699,526 $ 887,024 $ 376,355 $ 443,731 $ (254,852) $ 620,980 $ 27,222 $ 189,918 $ (1,809,688) $ (2,736,065) 02 Operations & Maintenance (384,820) (323,264) (610,522) (349,561) 347,646 (27,343) (294,216) 179,551 (181,589) 438,738 2,022 (51,518) (494,024) (1,097,495) (1,170,416) 03 Ops & Maint - Restricted 11,258,315 (10,496,089) 15,960,173 (8,330,024) (3,944,193) 453,197 (3,018,044) 9,627,012 (8,861,786) 20,390,063 (10,660,795) (6,138,106) (1,266,918) (9,289,110) (9,254,892) 04 Bond & Interest 60,695 (37,129) 1,479, ,340 (1,160,940) (48,142) 434, , ,290 1,885, ,683 (292,935) 39,560 39,959 39, Auxiliary Enterprises 2,354,054 (1,751,659) (508,661) (358,324) (167,570) (54,707) (109,334) (227,488) (43,314) (104,842) (89,903) 149,604 63,331 (33,113) (113,697) 06 Restricted Purposes 1,548,760 (2,065,591) (988,298) (575,561) (321,951) 95,711 (359,828) 513, ,741 11,945 (345,382) (97,667) 99,466 (36,963) (109,804) 08 General Assets - - (4,086,533) (5,305,845) (5,660,234) (3,637,491) 2,428,081 (1,664,664) 6,074,665 5,169,362 15,071,787 (8,200,000) (8,200,000) (8,200,000) (8,200,000) 09 General Long Term Debt ,521,302 2,329,057 (6,918,140) 3,645,890 (26,387,415) (3,641,493) Trust & Agency (36,648) (396,699) 106,599 (44,984) 153,081 96, ,095 76,031 29,703 (24,869) 31,607 (12,029) 1,709 (2,215) (2,215) 11 Audit (42,401) (37,208) (20,542) (34,055) 7,856 79,384 71,984 37,296 11, ,172 (16,315) (44,142) (35,767) (12,467) 12 Liability, Protection & Settlement 736, ,015 5,879 (518,003) 64, , , ,371 (57,247) (58,657) (174,521) 10, , , , Foundation , , , , ,361 (787,903) (863,605) 691,792 1,458, ,341 3,086 43,292 43,292 Revenue over (under) Expenditures 11,164,447 (14,521,624) 10,899,529 (13,985,000) (8,733,351) $ 2,029,913 $ 3,471,626 $ 1,937,938 $ 902,249 $ 1,757,831 $ 2,678,549 $ (14,462,491) $ (9,408,742) $ (20,106,206) $ (21,257,847) All Fund Balance 38,860,793 29,255, ,058, ,073,980 49,676,360 $ 50,801,028 $ 54,272,654 $ 56,210,592 $ 57,112,841 $ 58,870,671 $ 61,751,557 $ 47,289,066 $ 46,017,797 $ 28,568,646 $ 22,068,676 Operating Funds 01 Education (4,329,956) - (1,396,851) 808,705 1,547,962 $ 1,699,526 $ 887,024 $ 376,355 $ 443,731 $ (254,852) $ 620,980 $ 27,222 $ 189,918 $ (1,809,688) $ (2,736,065) 02 Operations & Maintenance (384,820) (323,264) (610,522) (349,561) 347,646 (27,343) (294,216) 179,551 (181,589) 438,738 2,022 (51,518) (494,024) (1,097,495) (1,170,416) 05 Auxiliary Enterprises 2,354,054 (1,751,659) (508,661) (358,324) (167,570) (54,707) (109,334) (227,488) (43,314) (104,842) (89,903) 149,604 63,331 (33,113) (113,697) 06 Restricted Purposes 1,548,760 (2,065,591) (988,298) (575,561) (321,951) 95,711 (359,828) 513, ,741 11,945 (345,382) (97,667) 99,466 (36,963) (109,804) 11 Audit (42,401) (37,208) (20,542) (34,055) 7,856 79,384 71,984 37,296 11, ,172 (16,315) (44,142) (35,767) (12,467) 12 Liability, Protection & Settlement 736, ,015 5,879 (518,003) 64, , , ,371 (57,247) (58,657) (174,521) 10, , , ,457 Revenue over (under) Expenditures (117,915) (3,591,707) (3,518,995) (1,026,799) 1,478,471 $ 2,082,493 $ 424,812 $ 1,142,231 $ 537,092 $ 33,049 $ 19,368 $ 22,238 $ 13,821 $ (2,698,132) $ (3,883,992) Operating Fund Balance 17,340,710 13,749,003 12,926,926 11,900,127 13,378,598 $ 14,103,353 $ 14,528,165 $ 15,670,396 $ 16,207,488 $ 16,240,536 $ 16,259,908 $ 16,282,146 $ 17,510,947 $ 17,510,947 $ 10,928,823 Capital Funds 03 Ops & Maint - Restricted 11,258,315 (10,496,089) 15,960,173 (8,330,024) (3,944,193) $ 453,197 $ (3,018,044) $ 9,627,012 $ (8,861,786) $ 20,390,063 $ (10,660,795) $ (6,138,106) $ (1,266,918) $ (9,289,110) $ (9,254,892) 04 Bond & Interest 60,695 (37,129) 1,479, ,340 (1,160,940) (48,142) 434, , ,290 1,885, ,683 (292,935) 39,560 39,959 39, General Assets - - (4,086,533) (5,305,845) (5,660,234) (3,637,491) 2,428,081 (1,664,664) 6,074,665 5,169,362 15,071,787 (8,200,000) (8,200,000) (8,200,000) (8,200,000) 09 General Long Term Debt ,521,302 2,329,057 (6,918,140) 3,645,890 (26,387,415) (3,641,493) Revenue over (under) Expenditures 11,319,010 (10,533,218) 13,353,320 (13,113,529) (10,765,367) $ (711,134) $ 2,173,358 $ 1,507,579 $ 1,199,059 $ 1,057,859 $ 1,169,182 $ (14,631,041) $ (9,427,358) $ (17,449,151) $ (17,414,932) Capital Fund Balance 21,456,753 10,923, ,483,799 93,370,270 29,940,634 $ 29,242,272 $ 31,415,630 $ 32,923,209 $ 34,122,268 $ 35,180,127 $ 36,551,642 $ 21,920,601 $ 19,319,592 $ 1,870,441 $ 1,870,441 Trust & Agency Funds 10 Trust & Agency (36,648) (396,699) 106,599 (44,984) 153,081 $ 96,695 $ 133,095 $ 76,031 $ 29,703 $ (24,869) $ 31,607 $ (12,029) $ 1,709 $ (2,215) $ (2,215) 30 Foundation , , , , ,361 (787,903) (863,605) 691,792 1,458, ,341 3,086 43,292 43,292 Revenue over (under) Expenditures (36,648) (396,699) 1,065, , ,545 $ 658,554 $ 873,456 $ (711,872) $ (833,902) $ 666,923 $ 1,489,999 $ 146,312 $ 4,795 $ 41,077 $ 41,077 Trust & Agency Fund Balance 63,330 4,583,051 5,648,255 5,803,583 6,357,128 $ 7,455,403 $ 8,328,859 $ 7,616,987 $ 6,783,085 $ 7,450,008 $ 8,940,007 $ 9,086,319 $ 9,187,258 $ 9,187,258 $ 9,269,412

4 Operating Funds Net by Year $2,500,000 $1,500,000 $500,000 $(500,000) $(1,500,000) $(2,500,000) $(3,500,000) $(4,500,000) 4

5 COMPARISON Year by Year Total (ALL Funds) FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 Actual Actual Actual Actual Actuals Budget Budget Revenue $ 66,056,474 $ 66,591,153 $ 70,606,935 $ 81,826,573 $ 88,865,062 $ 87,074,874 $ 89,993,699 Expense 62,584,848 64,653,215 69,704,687 80,068,742 86,186, ,237,365 99,202,441 Contingency , ,000 Net $ 3,471,626 $ 1,937,938 $ 902,248 $ 1,757,831 $ 2,678,549 $ (14,462,491) $ (9,408,742) Fund Balance $ 54,272,654 $ 56,210,592 $ 57,112,841 $ 58,870,671 $ 61,751,557 $ 47,289,066 $ 46,017,797 Cash 11,196,029 19,160,803 14,147,174 38,928,424 28,337, Investments 26,384,937 29,620,835 26,878,787 25,787,820 26,008, Operating (01, 02, 05, 06, 11, & 12) FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 Actual Actual Actual Actual Actuals Budget Budget Revenue $ 53,583,936 $ 56,100,028 $ 60,490,422 $ 68,313,931 $ 74,711,762 $ 74,357,186 $ 76,259,930 Expense 53,159,124 54,957,797 59,953,331 68,280,882 74,692,394 74,034,948 76,046,109 Contingency , ,000 Net $ 424,812 $ 1,142,231 $ 537,091 $ 33,049 $ 19,368 $ 22,238 $ 13,821 Fund Balance $ 14,528,165 $ 15,670,396 $ 16,207,488 $ 16,240,536 $ 16,259,908 $ 16,282,146 $ 17,510,947 Cash 4,324,902 6,216,001 5,527,983 10,525,613 6,607, Investments 12,099,314 11,778,439 11,975,734 8,572,979 10,630, Capital (03, 04, 08, & 09) FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 Actual Actual Actual Actual Actuals Budget Budget Revenue $ 10,001,450 $ 9,527,989 $ 9,701,756 $ 11,275,814 $ 11,150,066 $ 10,965,819 $ 11,952,291 Expense 7,828,092 8,020,410 8,502,697 10,217,955 9,980,884 25,596,860 21,379,649 Contingency Net $ 2,173,358 $ 1,507,579 $ 1,199,059 $ 1,057,859 $ 1,169,182 $ (14,631,041) $ (9,427,358) Fund Balance $ 31,415,630 $ 32,923,209 $ 34,122,268 $ 35,180,127 $ 36,551,642 $ 21,920,601 $ 19,319,592 Cash 6,082,785 12,035,904 7,583,394 27,157,890 20,328, Investments 6,729,367 11,041,729 8,980,480 10,730,800 7,681, Trust & Agency (10 & 30) FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 Actual Actual Actual Actual Actuals Budget Budget Revenue $ 2,471,088 $ 963,136 $ 414,757 $ 2,236,828 $ 3,003,234 $ 1,751,869 $ 1,781,478 Expense 1,597,632 1,675,008 1,248,659 1,569,905 1,513,235 1,605,557 1,776,683 Contingency Net $ 873,456 $ (711,872) $ (833,902) $ 666,923 $ 1,489,999 $ 146,312 $ 4,795 Fund Balance $ 8,328,859 $ 7,616,987 $ 6,783,085 $ 7,450,008 $ 8,940,007 $ 9,086,319 $ 9,187,258 Cash 788, ,898 1,035,797 1,244,921 1,400, Investments 7,556,256 6,800,667 5,922,573 6,484,041 7,696,

6 Financial Planning Model (FPM13) Narrative As requested, and as revised, we are presenting a FY 2013 balanced operating budget. Included are explanations of the associated risks and opportunities. The FY 2013 Capital Budget Detail by Project is also included. FY 2013 Budget Process: The Financial Planning Model (FPM) utilizes the Strategic Planning Initiatives to provide the new College Initiatives (if any), then The FPM is developed using a Bottom-Up approach requesting Budget Officer provide line item detail for each Department/Function of their responsibility, including explanations of increases or decreases from prior years This process is not a Rollover Budgeting process. Each new position is evaluated against the College Mission, Goals and Initiatives, then prioritized before inclusion. These details were reviewed by the appropriate Dean and/or Leadership Team Member and summarized for this FY 12 Tentative Budget Summarized Global calculations Revenues - Local Property Tax, State Government, Federal Government, Tuition & Fees Expenditures - estimated Payroll, Benefits, Utilities and Student Financial Aid Expenditures Revenue % comparison provides an aggressive, but reasonable projection A consistent and detailed approach to revenue projection Expense % comparison provides a reality check Better expenditure controls (checks and balances) on expenses Datatel provides object line control on requisitions, Monthly Checks over $10,000 traced to Purchase Reports Continued refinement for requesting new or replacement Employees Sign-off process, tracing to Budget for Full-time, Part-time, Temporary and Student Workers RISKS: Local Tax Revenue for Levy Year 2012 EAV originally estimated at -0- growth, now decrease of (3.00%) Enrollment (credit hour) are originally budgeted at FY 12 estimated results, now reduced by (5.00%) State of Illinois Operating funds originally estimated at level funding, now reduced by (6.14%) Payroll, changes in position headcount, student workers may exceed expectations, now reduced for reduced enrollment Benefits (Health Claims) expenses exceeding budget parameters Contractual Services may exceed budget parameters (Legal, Architects, Auditors, etc) Contingency(s) budget has been adjusted to $200,000 OPPORTUNITIES: Task Force to review intiatives and recommend cost savings Facility Planning will involve many constituent groups

7 FY 13 Operating Deficit Reduction Efforts FY 13 Board Finance Committee recommended changes Local Tax - EAV estimate from -0-% change to (3.00%) (447,000) State funding from same as last year's budget to reduction by (6.14%) (467,000) Tuition & Fees - enrollment/credit hours from same as last year to (5.00%) (825,000) Payroll - reduced Adjunct for reduced sections 239,000 06/26/2012 Board presentation FY 13 Operating Deficit (1,500,000) FY 12 Surplus - per 4th Quarter internal financial reports, subject to audit State Equalization funding per 07/03 allocation over original budget 577,144 Vacant positions deferred or eliminated 209, Remove - IT Systems Administrator, Grade 14, FT 61, Reorg - Admissions/Recruitment AAI, Grade 6, FT 25, Defer Career Services Director, Grade FT 65, Defer Reorganized FPOM, Grade 10, FT 24, Reorganized Print Services Production Technician from FT to CPT 31, XXXXX - Commencement through TF: CC&RE - diploma & covers savings 2, Copier Chargeback reduction in lease costs expense 73, C N A - amount over budgeted 4,000 07/20 Board Finance Committee Update (633,569) Tution & Fees - enrollment currently down (2.5%) from Fall ,500 Payroll - Adjunct pay for increased sections (119,500) Tution & Fees - to reset enrollment goal to the original target, similar to FY ,500 Payroll - Adjunct pay for increased sections (119,500) 55XXX Travel & Food reductions based on regional, less attendees, fewer conferences 86,390 55XXX Additional Travel & Food reductions to be identified 25,000 54XXX General Materials & Supplies - FY 13 Budget up $300k from FY 11 Actual, FY 12 Actual Under Publications & Subscriptions - Library budget currently at $209,819 25,000 Computer Replacements - IT budget currently at $195, ,000 57XXX Telephone charges - IT budget currently at $245,000 25,000 Contingency for potential shortfall of enrollment goals (200,000) If FY 13 has a surplus the IT Computer Replacements and Library Publications reductions will be restored IDEAS DISCUSSED, NOT IMPLEMENTED Mid-Year Tuition increase of asy $5.00/Credit Hour Effective Spring Tuition & Fees at 50% effective collections (77,500 CH x $5 X 50%) 193,750 New State Grant - RPS Mentoring $200,000, repurpose some existing expenses Payroll 50,000 Contractual Services 25,000 General Materials 25, ,000 Payroll - recognize savings from delayed replacements and reduce Student Workers budget 100,000 Health Care Costs - Three (3) deferred full-time positions at $16,000 each 48,000 53XXX Contractual Services - FY 13 Budget up $500k from FY 11 Actual, FY 12 Actual Under Legal Services - General Institutional budget currently at $35,000 25,000 08/28 Board Finance Committee Update 13,821

8 Operating Statement of Revenues and Expenditures Funds (01, 02, 05, 06, 11, 12) FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 Operating Funds Summary Actual $ Actual $ Actual $ Budget $ Budget $ Proposed $ Proposed $ Revenues 41 Local Government 23,002,023 22,883,447 22,182,392 21,392,305 20,797,935 21,053,248 21,409, State Government 10,311,868 11,767,032 12,854,568 11,413,366 14,627,490 15,536,098 16,819, Federal Government 10,216,604 14,744,363 18,664,520 17,804,950 18,167,812 17,135,828 17,135, Student Tuition & Fees 13,734,370 15,882,533 16,958,309 19,873,331 18,734,152 18,734,152 18,734, Sales & Service Fees 1,393,994 1,513,473 1,694,421 1,966,200 1,893,100 1,893,100 1,893, Facilities Revenue Investment Revenue 384,515 74,243 46,657 95, , , , Gifts, Grants & Bequests 207, , , , , , , Other Revenue 1,239,100 1,259,866 1,905,378 1,660,817 1,579,682 1,595,220 1,643,380 Total Revenues 60,490,422 68,313,931 74,711,762 74,357,186 76,259,930 76,238,905 77,926,747 8% 13% 9% 0% 3% 0% 2% Expenses by Object 51 Salaries 27,946,963 29,914,644 31,693,361 31,325,538 30,865,366 31,173,792 31,965, Employee Benefits 8,873,803 11,987,476 13,361,426 12,917,424 15,737,793 17,888,964 19,949, Contractual Services 4,073,816 3,622,619 3,740,972 4,601,346 4,540,604 4,277,571 4,298, General Materials & Supplies 4,752,130 4,541,979 3,856,473 4,152,170 3,975,978 4,024,207 4,070, Travel & Conf/Mtg Expense 687, , , , , , , Fixed Charges 1,042,147 1,085,178 1,183,333 1,307,504 1,403,451 1,441,823 1,442, Utilities 1,485,608 1,462,252 1,608,316 1,643,120 1,491,096 1,623,696 1,633, Capital Outlay 969, ,092 1,108, , , , , Other Expenditures 10,122,045 14,335,990 17,530,112 16,955,255 17,113,651 16,904,901 16,854,901 Total Expenses 59,953,331 68,280,882 74,692,394 74,034,948 76,046,109 78,637,037 81,510,739 9% 14% 9% -1% 3% 3% 4% Provision For Contingency 60 Provision For Contingency , , , ,000 Total Provision For Contingency , , , ,000 Transfers 71 Transfers to Other Funds (264,689) Transfers from Other Funds 264, Total Transfers (1) Net 537,092 33,049 19,368 22,238 13,821 (2,698,132) (3,883,992) Expense by Function 0 Other 75, Instruction 19,872,717 22,142,115 23,310,146 22,934,037 24,188,624 25,220,036 26,496,077 2 Academic Support 3,871,842 4,372,749 4,808,580 5,192,044 5,271,801 5,600,866 5,890,269 3 Student Services 3,197,926 3,674,113 3,873,145 3,885,775 4,141,742 4,448,680 4,699,694 4 Public Service/Continuing Ed 6,679,612 7,361,662 8,928,585 8,535,246 8,146,036 7,636,392 7,938,913 6 Auxiliary Services 679, , , , , , ,192 7 Operations & Mtce of Plant 7,114,922 6,352,734 6,826,169 6,087,967 6,146,334 6,819,342 7,100,359 8 Institutional Support 9,036,945 10,062,748 9,434,055 10,644,716 10,860,457 11,677,120 12,112,953 9 Scholarships, Grants, Waivers 9,423,528 13,521,722 16,723,039 16,240,495 16,637,282 16,637,282 16,637,282 Total Expenses 59,953,330 68,280,882 74,688,402 74,334,948 76,246,109 78,937,037 81,810,739 Change in Beginning Fund Balance Fund Balance 16,207,488 16,240,536 16,259,908 16,282,146 17,510,947 17,510,947 10,928,823

9 All Funds Revenues Comparison OPERATING (01, 02, 05, 06, 11, 12) FY 10 FY 11 FY 12 FY 13 % Inc/Dec over prior year Revenues by Source Actual Actual Budget Budget Rev 09/10 10/11 11/12 12/13 41 Local Government $ 22,883,447 $ 22,182,392 $ 21,392,305 $ 20,797,935 28% -1% -3% -4% -3% 42 State Government 11,767,032 12,854,568 11,413,366 14,627,490 19% 14% 9% -11% 28% 43 Federal Governmental 14,744,363 18,664,520 17,804,950 18,167,812 24% 44% 27% -5% 2% 44 Student Tuition & Fees 15,882,533 16,958,309 19,873,331 18,734,152 25% 16% 7% 17% -6% 45 Sales & Services Fees 1,513,473 1,694,421 1,966,200 1,893,100 2% 9% 12% 16% -4% 46 Facilities Revenue % 0% 0% 0% 0% 47 Investment Revenue 74,243 46,657 95, ,459 0% -81% -37% 104% 57% 48 Gifts, Grants, & Bequests 188, , , ,300 0% -9% 115% -63% 105% 49 Other Sources 1,259,866 1,905,378 1,660,817 1,579,682 2% 2% 51% -13% -5% Total Revenues $ 68,313,931 $ 74,711,762 $ 74,357,186 $ 76,259, % 13% 9% 0% 2.6% CAPITAL (03, 04, 08, 09) FY 10 FY 11 FY 12 FY 13 % nc/dec over prior yea Revenues by Source Actual Actual Budget Budget Rev 09/10 10/11 11/12 12/13 41 Local Government $ 10,462,932 $ 10,322,168 $ 10,073,841 $ 11,020,552 92% 13% -1% -2% 9% 42 State Government % 0% 0% 0% 0% 43 Federal Governmental 211, , , ,138 5% 0% 131% 17% 0% 44 Student Tuition & Fees % 0% 0% 0% 0% 45 Sales & Services Fees % 0% 0% 0% 0% 46 Facilities Revenue % 0% 0% 0% 0% 47 Investment Revenue 122,422 83,287 70, ,601 1% -68% -32% -15% 58% 48 Gifts, Grants, & Bequests 250, , , ,000 2% 0% 0% 0% 0% 49 Other Sources 228,815 6, % 232% -97% -100% 0% Total Revenues $ 11,275,814 $ 11,150,066 $ 10,965,819 $ 11,952, % 16% -1% -2% 9% TRUST & AGENCY (10 & 30) FY 10 FY 11 * FY 12 FY 13 % nc/dec over prior yea Revenues by Source Actual Budget Budget Budget Rev 09/10 10/11 11/12 12/13 41 Local Government $ - $ 25,000 $ - $ - 0% 0% 0% -100% 0% 42 State Government % 0% 0% 0% 0% 43 Federal Governmental % 0% 0% 0% 0% 44 Student Tuition & Fees 262, , , ,532 15% -8% 3% 5% -7% 45 Sales & Services Fees 4,378 4,223 17,450 17,450 1% 139% -4% 313% 0% 46 Facilities Revenue % 0% 0% 0% 0% 47 Investment Revenue 803,351 1,418, , ,666 31% -188% 77% -79% 90% 48 Gifts, Grants, & Bequests 726, , , ,830 34% 17% 21% -7% -26% 49 Other Sources 439, , , ,000 19% 6% -8% -15% -1% Total Revenues $ 2,236,828 $ 3,003,234 $ 1,751,869 $ 1,781, % 439% 34% -42% 2%

10 Operating Revenues by Object (as % of Total Revenue) 40% 35% 30% 25% 20% 15% 10% 5% 0% FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 Local Government 37% 35% 38% 34% 29% 29% 27% 27% 28% State Government 21% 22% 17% 17% 17% 15% 20% 20% 21% Federal Government 14% 15% 17% 22% 25% 24% 24% 24% 22% Student Tuition & Fees 23% 21% 23% 23% 23% 27% 25% 25% 25% Sales & Service Fees 3% 3% 2% 2% 2% 3% 2% 2% 2% Facilities Revenue 0% 0% 0% 0% 0% 0% 0% 0% 0% Investment Revenue 1% 2% 1% 0% 0% 0% 0% 0% 0% Gifts, Grants & Bequests 0% 0% 0% 0% 1% 0% 0% 0% 0% Other Revenue 1% 2% 2% 2% 3% 2% 2% 2% 2% 10

11 Operating Revenues Summary FY 2010 FY 2011 FY 2012 FY 2013 Actual Actual Budget Budget 41 Local Government $ 22,883,447 $ 22,182,392 $ 21,392,305 $ 20,797,935 99% 97% 96% 97% Economic Assessed Valuation (EAV) roughly 1/3 Fair Market Value times tax rate EAV for Levy Year (LY) 2011 is $6.4 billion, LY 2011 declined by (4.56%) from LY 10, LY 2012 originally estimated at -0-% growth, revised to a (3.00%) decline, future Levy Years growth rates are also reduced 1.0% EAV $.45/$100 rate equates to $281,000 split between future Fiscal Years Current Tax Rate target is $.4500/$100 EAV. A $.01/$100 EAV tax rate change equates to $624k + CPPRT payments ($1.4 million) are included in Local Government revenues and have recovered from previous year's declines 42 State Government - $ 11,767,032 $ 12,854,568 $ 11,413,366 $ 14,627,490 State on-behalf of payments (SURS/CIP) 4,855,542 4,077,700 4,077,700 7,573,200 $ 6,911,490 $ 8,776,868 $ 7,335,666 $ 7,054,290 95% 127% 84% 96% ICCB estimates for FY 12 Base Operating Grants (Credit Hour, Square Footage), Equalization are level dollar funding. + Original estimates utilized level funding, same as last year's revenues, revised to (6.14%) decline from FY 12 funding levels State Grants with cuts have been adjusted 43 Federal Government $ 14,744,363 $ 18,664,520 $ 17,804,950 $ 18,167, % 127% 95% 102% Mainly PELL, SEOG, Work Study, Dislocated Workers, Stafford Loans Offsetting expenditures are recorded in 59 - Other expenditures Grants with cuts have Federal been adjusted 44 Student Tuition & Fees $ 15,882,533 $ 16,958,309 $ 19,873,331 $ 18,734, % 107% 117% 94% Effective Summer 2011, RVC Tuition & Universal Fee will $93/credit hour (Tuition $83 + Technology Fee $7 + Student Activity Fee $3) FY 13 Budget originally assumed a -0-% growth in Credit Hours (CH) as compared to FY12 estimated results of 177,000 Transfer CH, revised to 95% or 168,150 Transfer CH at approved Tuition rates, Note RVC is still well below the state average and contiguous colleges for tuition & fees. Note: Tuition and Fees now regularly exceeds State Government support Total Revenues $ 68,313,931 $ 74,711,762 $ 74,357,186 $ 76,259, % 109% 100% 103%

12 All Funds Expenditures Comparison OPERATING (01, 02, 05, 06, 11, 12) FY 10 FY 11 FY 12 FY 13 % Expenses by Source Actual Actual Budget Budget Exp 09/10 10/11 11/12 12/13 51 Salaries $ 29,914,644 $ 31,693,361 $ 31,325,538 $ 30,865,366 41% 7% 6% -1% -1% 52 Employee Benefits 11,987,476 13,361,426 12,917,424 15,737,793 21% 35% 11% -3% 22% 53 Contractual Services 3,622,619 3,740,972 4,601,346 4,540,604 6% -11% 3% 23% -1% 54 General Materials & Supplies 4,541,979 3,856,473 4,152,170 3,975,978 5% -4% -15% 8% -4% 55 Travel & Conf/Mtg Expense 713, , , ,214 1% 4% -15% 25% -3% 56 Fixed Charges 1,085,178 1,183,333 1,307,504 1,403,451 2% 4% 9% 10% 7% 57 Utilities 1,462,252 1,608,316 1,643,120 1,491,096 2% -2% 10% 2% -9% 58 Capital Outlay 617,092 1,108, , ,956 0% -36% 80% -67% -52% 59 Other Expenditures 14,335,990 17,530,112 16,955,255 17,113,651 22% 42% 22% -3% 1% Total Expenses $ 68,280,882 $ 74,692,394 $ 74,034,948 $ 76,046, % 14% 9% -1% 3% CAPITAL (03, 04, 08, 09) FY 10 FY 11 FY 12 FY 13 % Expenses by Source Actual Actual Budget Budget Exp 09/10 10/11 11/12 12/13 51 Salaries $ - $ - $ - $ - 0% 0% 0% 0% 0% 52 Employee Benefits % 0% 0% 0% 0% 53 Contractual Services 12,987 46,810 3,600 3,200 0% -92% 260% -92% -11% 54 General Materials & Supplies % 0% -76% -100% 0% 55 Travel & Conf/Mtg Expense % 0% 0% 0% 0% 56 Fixed Charges 3,079,017 3,690,447 10,723,260 10,323,431 48% 31% 20% 191% -4% 57 Utilities % 0% 0% 0% 0% 58 Capital Outlay 7,125,864 6,242,077 14,870,000 11,053,018 52% 19% -12% 138% -26% 59 Other Expenditures - 1, % -100% 0% -100% 0% Total Expenses $ 10,217,955 $ 9,980,884 $ 25,596,860 $ 21,379, % 20% -2% 156% -16% TRUST & AGENCY (10 & 30) FY 10 FY 11 FY 12 FY 13 % Expenses by Source Actual Actual Budget Budget Exp 09/10 10/11 11/12 12/13 51 Salaries $ - $ - $ - $ - 0% 0% 0% 0% 0% 52 Employee Benefits % 0% 0% 0% 0% 53 Contractual Services 248, , , ,334 11% -5% -8% 17% -27% 54 General Materials & Supplies 104, , , ,735 7% 24% 17% 0% -7% 55 Travel & Conf/Mtg Expense 118,234 95,082 65, ,705 6% 9% -20% -31% 68% 56 Fixed Charges % -67% 132% -14% -100% 57 Utilities % 0% 0% 0% 0% 58 Capital Outlay - 5, % -100% 0% -100% 0% 59 Other Expenditures 1,098,177 1,059,857 1,147,646 1,354,909 76% 40% -3% 8% 18% Total Expenses $ 1,569,905 $ 1,513,235 $ 1,605,557 $ 1,776, % 26% -4% 6% 11%

13 Operating Expenditures by Object (as % of Total Expenditures) 60% 50% 40% 30% 20% 10% 0% FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 Salaries 47% 48% 47% 44% 43% 44% 41% 41% 40% Employee Benefits 16% 14% 14% 17% 18% 16% 20% 20% 23% Contractual Services 7% 6% 7% 5% 5% 6% 6% 6% 5% General Materials & Supplies 8% 8% 8% 7% 5% 6% 5% 5% 5% Travel & Conf/Mtg Expense 1% 1% 1% 1% 1% 1% 1% 1% 1% Fixed Charges 1% 2% 2% 2% 2% 2% 2% 2% 2% Utilities 2% 3% 2% 2% 2% 2% 2% 2% 2% Capital Outlay 3% 2% 2% 1% 1% 0% 0% 0% 1% Other Expenditures 15% 16% 17% 21% 23% 23% 23% 23% 21% 13

14 Operating Expenditures Summary FY 2010 FY 2011 FY 2012 FY 2013 Actual Actual Budget Budget 51 Salaries $ 29,914,644 $ 31,693,361 $ 31,325,538 $ 30,865, % 106% 99% 99% FY 13 Head count target 500, down from FY 12 of 512, some were grant funded positions, FY 13 Payroll is less than FY 12 run rate Fewer Positions are included, some retirements were reallocated, some were not replaced Approved raises have been included in the FY 13 Budget With the revised decrease in Enrollment (Credit Hours), reduced number of sections and therefore Instructor Pay (Overloads/Adjunct) have been adjusted Continued improvements in planning for Temporary Employees (Adjunct, Staff & Student Workers) will help monitor and control costs 52 Employee Benefits $ 11,987,476 $ 13,361,426 $ 12,917,424 $ 15,737,793 State on-behalf of payments (SURS/CIP) 4,855,542 4,077,700 4,077,700 7,573,200 $ 7,131,934 $ 9,283,726 $ 8,839,724 $ 8,164, % 130% 95% 92% FY 13 Budget approximates FY 12 annualized claims rate and is considered a "realistic" target at reduced full-time headcount FY 13 estimates include the change to Blue Cross/Blue Shield effective January A reserve for the gap between expected claims and aggregate insurance exists. Health Claims (IBNR) Reserves (Incurred But Not Reported), as well as some Post-termination benefit are accrued. Note: Payroll and Employee Benefits represent an increasing percentage of expenditures 53 Contractual Services $ 3,622,619 $ 3,740,972 $ 4,601,346 $ 4,540,604 89% 103% 123% 99% FY 13 includes the RASI/EDA, SBDC/PTAC and other Grant Consulting estimate ($500k) 54 General Materials $ 4,541,979 $ 3,856,473 $ 4,152,170 $ 3,975,978 96% 85% 108% 96% 59 Other Expenditures $ 14,335,990 $ 17,530,112 $ 16,955,255 $ 17,113, % 122% 97% 101% + Mainly the Federal Government Grants - PELL, etc. from 43xxx Federal Government Revenues Total Expenses by Object $ 68,280,882 $ 74,692,394 $ 74,034,948 $ 76,046, % 109% 99% 103%

15 Operating Expenditures by Function (as % of Total Expenditures) 35% 30% 25% 20% 15% 10% 5% 0% FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 Instruction 33% 33% 32% 33% 32% 32% 32% 32% 32% Academic Support 7% 7% 7% 6% 6% 7% 7% 7% 7% Student Services 5% 5% 6% 5% 5% 5% 5% 5% 6% Public Service/Continuing Ed 13% 13% 12% 11% 12% 11% 11% 11% 10% Auxiliary Services 1% 1% 1% 1% 1% 1% 1% 1% 1% Operations & Mtce of Plant 12% 12% 12% 9% 9% 8% 8% 8% 9% Institutional Support 16% 16% 16% 15% 13% 14% 14% 14% 14% Scholarships, Grants, Waivers 13% 13% 14% 20% 22% 22% 22% 22% 21% 15

16 Operating Funds With and Without Student Financial Aid OPERATING (01, 02, 05, 06, 11, 12) FY 13 Budget Revenues by Source Excluding Student % Student % FY 13 % Financial Aid Rev Finacial Aid Rev Budget Rev 41 Local Government $ 20,797,935 35% $ - 0% $ 20,797,935 28% 42 State Government 13,150,190 22% 1,477,300 9% 14,627, % 43 Federal Governmental 3,520,930 6% 14,646,882 91% 18,167, % 44 Student Tuition & Fees 18,734,152 31% - 0% 18,734, % 45 Sales & Services Fees 1,893,100 3% - 0% 1,893, % 46 Facilities Revenue - 0% - 0% - 0% 47 Investment Revenue 149,459 0% - 0% 149, % 48 Gifts, Grants, & Bequests 310,300 0% - 0% 310, % 49 Other Sources 1,579,682 3% - 0% 1,579, % Total Revenues $ 60,135, % $ 16,124, % $ 76,259, % FY 13 Budget Excluding Student Financial Aid $60M 3% 3% 2% 2% FY 13 Budget $76M 31% 35% Local Government State Government Federal Governmental 25% 28% Local Government State Government Federal Governmental 6% 22% Student Tuition & Fees Sales & Services Fees Other Sources 24% 19% Student Tuition & Fees Sales & Services Fees Other Sources

17 Operating Funds With and Without Student Financial Aid (continued) FY 13 Budget Expenses by Source Excluding Student % Student % FY 13 % Financial Aid Rev Financial Aid Rev Budget Rev 51 Salaries $ 30,372,533 51% 0% $ 30,865,366 41% 52 Employee Benefits 15,737,793 26% 0% 15,737,793 21% 53 Contractual Services 4,537,093 8% 0% 4,540,604 6% 54 General Materials & Supplies 4,108,987 7% 0% 3,975,978 5% 55 Travel & Conf/Mtg Expense 820,434 1% 0% 741,214 1% 56 Fixed Charges 1,476,859 2% 0% 1,403,451 2% 57 Utilities 1,516,096 3% 0% 1,491,096 2% 58 Capital Outlay 176,956 0% 0% 176,956 0% 59 Other Expenditures 1,146,878 2% 16,124, % 17,113,651 22% Total Expenses $ 59,893, % $ 16,124, % $ 76,046, % 2% 3% 0% 2% 1% 8% FY 13 Budget Excluding Student Financial Aid $60M 7% 26% 51% Salaries Employee Benefits Contractual Services General Materials & Supplies Travel & Conf/Mtg Expense Fixed Charges Utilities Capital Outlay Other Expenditures 0% 2% 2% 1% 5% 22% 6% 21% FY 13 Budget $76M Salaries Employee Benefits Contractual Services 41% General Materials & Supplies Travel & Conf/Mtg Expense Fixed Charges Utilities Capital Outlay Other Expenditures

18 Major Capital Projects Narrative Current & Future Capital Projects will be based upon the updated Facilities Master Plan Updated Report and Building Renovation time line (available space and funding) Future tax rate management can provide debt flexibility (refinancing or new debt for capital projects) additional capacity to be obtained via tax swap from PH&S to finance new classroom building As of May 2012 remaining RVC Capital Bond funds approximately $14.7 million Karl J. Jacobs Center for Science & Math (JCSM - formerly CL III) Construction started April 2010, substantial completion May 2011, opened for classes August 2011 A $28.5 million, 106,000 sq ft, 3 story, new facility targeting LEED Gold designation Classroom Building I (CLI) Addition & Renovations - Total $20,607,673 Total (000,000) State (75%) Local CLI Addition 21,000 ~ $276/SF CLI Renovations 61,206 ~ $220/SF CLI Asbestos 61,206 ~ $22/SF PH&S 2012 Levy 1.4 Existing Bonds 9.1 Next steps - RVC Board Approval, ICCB Approval, CDB Approval, concurrent Quality Based Selection for Project Architect Project Estimated Timeline for a LEED Gold designation: Architect selection in October 2012 Conceptual & Schematic Design by May 2013, including relocation (logistics) of existing instructional disciplines and staff Construction start June 2014 with Asbestos Abatement, Addition & Renovation could include night work and 2nd shift Constrution approximately months Instructional Use by August Optimistic Arts Instructional Center - State funding allocation received in January 2010, Architects have been re-engaged Architects meeting to confirm Academic Programming Conceptual Design reviewed in Oct 2010, with Schematic Design reviewed in March/May 2011 Value Engineering occurred Summer 2011, project placed on HOLD Additional discussions be determine programming, location, size, estimated costs A Capital Development Board (CDB) project targeting LEED Gold designation SCCE Visioning continues create Science Labs (Physical & Life), 2nd Computer Lab, Faculty Offices and Support Staff Area create Financial Aid office, relocate Adjunct Office spaces, open computer area, additional parking Other possibilities to be clarified

19 Capital Expenditures Detail by Project PAST FPM13 FUTURE Funding Source Function Project Total Est. Cost Bond Funded Projects Spent to Date through 06/30/2011 FY 12 (BoT Budget) FY 13 FY 14 FY 15 Totals Future Funding RVC Bonds AIC Construction (CDB Project) $ 10,500,000 $ 978,693 $ 1,500,000 $ 125,000 $ 250,000 $ 250,000 $ 3,103,693 $ 7,396,307 RVC Bonds JCSM Classroom Bldg 28,584,000 25,589,931 4,200, ,789, ARRA Geothermal Efficiency Grant - (420,000) - - (420,000) - multiple ICECF Grants - (263,500) - - (263,500) - RVC Bonds SCCE Visioning RVC Bonds SSB Salt Shed (Note 1) 75,000 19,206 30, ,206 - RVC Bonds WTC Data Processing Liebert Units 267, , ,300 - RVC Bonds Parking Lot #8 Renovations RVC Bonds CL1 Renovation $20,607,673 - CDB $10,082,5 10,525, ,000,000 4,000,000 4,000,000 9,000,000 1,525,144 RVC Bonds FY 12 Undistributed , ,700 - RVC Bonds FY 13 Undistributed , ,000 - RVC Bonds FY 14 Undistributed , ,000 - RVC Bonds FY 15 Undistributed , ,000 - TOTAL BOND PROJECTS $ 49,951,444 $ 25,904,330 $ 6,230,000 $ 1,625,000 $ 4,750,000 $ 4,750,000 $ 43,259,330 $ 8,921,451 Capital Renewal (CDB) Projects (FC03) CDB funded Electrical Upgrades (UPS replacements) 247, , ,748 - CDB funded Electrical Upgrades (HV Feeder &Switch) 501, , ,848 - TOTAL CAPITAL RENEWAL PROJECTS 749, , ,596 - IGEN Projects (FC03) (Potential) Grant funded 79xxx Main Campus walking path light retro-fit 90, , ,650 - Grant funded 79xxx Main Campus parking lot light retro-fit 114, , ,000 - Grant funded 79xxx Main Campus roadway lighting retro-fit 54, , ,000 - Grant funded 79xxx BH burner system 3, , ,500 - TOTAL IGEN PROJECTS 262, , ,150 - Protection, Health and Safety Projects Life Safety LS 2004 Electrical Systems $ 302,000 $ 139,425 $ - $ - $ - $ - $ 139,425 $ - Life Safety LS 2008 CL1 & CL2 Sprinkler Head Replace 89, ,680 Life Safety LS 2008 CL2 Asbestos Abate Phase 1 847, ,605 Life Safety LS 2009 SCCE VAV Box Replacement 635, , ,391 - Life Safety LS 2010 SCCE VAV Phase 2-22, ,859 - Life Safety (LS Old$$$$) Water Intrusion $400k - 78, , ,104 - Life Safety LS 2012 (and earlier) Undistributed 172, Life Safety (LS Old $$$) TBD Life Safety LS 2013 (CLI Asbestos $1,361,231) 2,188, ,228, ,754 2,055,772 - Life Safety LS 2014 Undistributed 2,061, ,061,985 2,061,985 - Life Safety LS 2015 Undistributed TOTAL LIFE SAFETY PROJECTS $ 6,297,788 $ 868,779 $ 440,000 $ - $ 1,228,018 $ 2,889,739 $ 5,426,536 $ 937,285 RVC funded (Bonds) $ 49,951,444 $ 25,904,330 $ 6,230,000 $ 1,625,000 $ 4,750,000 $ 4,750,000 $ 43,259,330 $ 8,921,451 CDB Funded 749, , ,596 - IGEN Funded 262, , ,150 - RVC funded (Protection, Health, &Safety) 6,297, , ,000-1,228,018 2,889,739 5,426, ,285 TOTAL $ 50,963,190 $ 26,773,109 $ 6,670,000 $ 2,636,746 $ 5,978,018 $ 7,639,739 $ 49,697,612 $ 9,858,736

20 , Community College District North Mulford Road, Rockford, IL SUMMARY OF FISCAL YEAR 2013 BUDGET BY FUND GENERAL CAPITAL DEBT SERVICE PROPRIETARY Operations & Education Operations & Maintenance Maintenance (Restricted) Bond and Interest Auxiliary Enterprises Fund 01 Fund 02 Fund 03 Fund 04 Fund 05 Est. Begin. Fund Balance 07/01/2012 $ 11,630,177 $ 141,802 $ 19,879,052 $ 5,423,955 $ 1,845,426 Budget Revenues 42,887,426 6,178,515 1,586,100 10,366,191 3,785,683 Less: Budgeted Expenditures (42,497,508) (6,672,539) (2,853,018) (10,326,631) (3,722,352) Less: Budgeted Contingency (200,000) Revenue over (under) Expenditures $ 189,918 $ (494,024) $ (1,266,918) $ 39,560 $ 63,331 Est. Ending Budgeted Fund Balance $ 11,820,095 $ (352,222) $ 18,612,134 $ 5,463,515 $ 1,908,757 SPECIAL REVENUE Liability, Restricted Purposes Audit Protection, & Settlement Total ICCB Fund 06 Fund 11 Fund 12 Funds Est. Begin. Fund Balance 07/01/2012 $ (279,257) $ 134,010 $ 4,024,968 42,800,133 Budget Revenues 21,444,044 11,543 1,952,719 88,212,221 Less: Budgeted Expenditures (21,344,578) (55,685) (1,753,447) (89,225,758) Less: Budgeted Contingency (200,000) Revenue over (under) Expenditures $ 99,466 $ (44,142) $ 199,272 $ (1,213,537) Est. Ending Budgeted Fund Balance $ (179,791) $ 89,868 $ 4,224,240 $ 41,586,596 The Official FY 2013 Budget which is accurately summarized in this document, was approved by the Board of Trustees on : ATTEST: Secretary, Board of Trustees Community College District 511

21 Education Fund Statement of Revenues and Expenditures FY10 FY11 FY12 FY13 01 Education Fund Actual $ Actual $ Budget $ Budget $ Totals Revenues 41 Local Government $ 17,227,632 $ 16,932,371 $ 16,463,116 $ 15,924,544 37% 42 State Government 7,772,615 8,801,258 7,311,730 10,400,600 24% 43 Federal Government 124, % 44 Student Tuition & Fees 13,710,787 14,604,273 17,114,771 16,166,809 38% 45 Sales & Service Fees 58,872 76,309 42,000 38,000 0% 46 Facilities Revenue % 47 Investment Revenue 56,222 35,238 62,578 93,973 0% 48 Gifts, Grants & Bequests ,000 0% 49 Other Revenue 153, ,988 85,000 93,500 0% Total Revenues $ 39,103,808 $ 40,689,437 $ 41,079,195 $ 42,887, % 8% 4% 1% 4% Expenses 51 Salaries $ 24,319,423 $ 25,076,801 $ 25,138,843 $ 24,883,386 59% 52 Employee Benefits 8,758,826 9,814,625 9,511,561 11,887,955 28% 53 Contractual Services 1,480,301 1,428,012 1,906,254 1,971,195 5% 54 General Materials & Supplies 2,831,088 2,149,523 2,484,808 2,325,005 5% 55 Travel & Conf/Mtg Expense 339, , , ,720 1% 56 Fixed Charges 457, , , ,900 2% 57 Utilities 9,805 11,887 23,020 23,216 0% 58 Capital Outlay 380, , ,000 36,956 0% 59 Other Expenditures 594, , , ,175 1% Total Expenses $ 39,171,944 $ 40,068,457 $ 40,801,973 $ 42,497, % 11% 2% 2% 4% Provision For Contingency 60 Provision For Contingency $ - $ - $ 250,000 $ 200, % Total Provision For Contingency $ - $ - $ 250,000 $ 200, % Transfers 71 Transfers to Other Funds $ 154,153 $ (24,227) $ - $ - 0% 72 Transfers from Other Funds 32,563 24, % Total Transfers $ 186,716 $ - $ - $ - 0% Net $ (254,852) $ 620,980 $ 27,222 $ 189,918 Expense by Function 0 Other $ - $ - $ - $ - 0% 1 Instruction 21,567,783 22,600,976 22,199,293 23,392,123 55% 2 Academic Support 4,349,292 4,744,301 5,160,607 5,251,301 12% 3 Student Services 3,598,827 3,792,241 3,835,301 4,094,751 10% 4 Public Service/Continuing Ed 1,050,253 1,026,749 1,152,087 1,219,602 3% 6 Auxiliary Services 347, , , ,741 0% 7 Ops & Maintenance of Plant % 8 Institutional Support 8,325,195 7,507,926 8,444,565 8,542,490 20% 9 Scholarships/Grants/Waivers 119, ,410 78,500 28,500 0% Total Expenses $ 39,358,660 $ 40,068,457 $ 41,051,973 $ 42,697, % Fund Balance $ 9,614,772 $ 10,235,752 $ 10,262,974 $ 11,820,095 Cash 8,589,750 5,720, Investments 5,370,279 7,630,

22 Education Fund Statement of Revenues and Expenditures by Function Code EDUCATION FUND 01 FY 10 Actual FY 11 Actual FY 12 Budget FY 13 Budget 0 Other 51 Salaries $ - $ - $ - $ - 52 Employee Benefits Contractual Services General Materials and Supplies Travel and Conference/Meeting Expenses Fixed Charges Capital Outlay Other (List) Utilities Other Expenditures Transfers to Other Funds Transfers from Other Funds $ - $ - $ - $ INSTRUCTION 51 Salaries $ 14,872,022 $ 15,617,623 $ 15,263,203 $ 14,989, Employee Benefits 4,864,627 5,526,471 5,027,281 6,682, Contractual Services 484, , , , General Materials and Supplies 1,064, , , , Travel and Conference/Meeting Expenses 94,316 93, , , Fixed Charges 181, , , , Capital Outlay 3,260 4,656 4,250 4, Other (List) Utilities - 8, Other Expenditures 2,107 6,612 3,350 2, Transfers to Other Funds Transfers from Other Funds $ 21,567,783 $ 22,600,976 $ 22,199,293 $ 23,392, ACADEMIC SUPPORT 51 Salaries $ 2,517,199 $ 2,614,381 $ 2,832,918 $ 2,636, Employee Benefits 1,070,493 1,218,635 1,197,166 1,415, Contractual Services 123, , , , General Materials and Supplies 541, , , , Travel and Conference/Meeting Expenses 16,317 23,318 62,400 72, Fixed Charges - 154, , , Capital Outlay 354 1,375 13,050 13, Other (List) Utilities 56,526 15,343 35,000 25, Other Expenditures 23,561 19,626 22,750 32, Transfers to Other Funds Transfers from Other Funds $ 4,349,292 $ 4,744,301 $ 5,160,607 $ 5,251,

23 Education Fund Statement of Revenues and Expenditures by Function Code (cont'd) EDUCATION FUND 01 FY 10 Actual FY 11 Actual FY 12 Budget FY 13 Budget 3 STUDENT SERVICES 51 Salaries $ 2,201,305 $ 2,324,439 $ 2,376,941 $ 2,460, Employee Benefits 940,162 1,064,645 1,064,718 1,283, Contractual Services 66,463 67,873 87,184 62, General Materials and Supplies 269, , , , Travel and Conference/Meeting Expenses 107,577 83,783 93,810 75, Fixed Charges 1,766 2,306 2,789 1, Capital Outlay Other (List): Utilities Other Expenditures 11,947 6,467 (6,050) (10,100) 71 Transfers to Other Funds Transfers from Other Funds $ 3,598,827 $ 3,792,241 $ 3,835,301 $ 4,094, PUBLIC SERVICE/CONTINUING EDUCATION 51 Salaries $ 630,482 $ 616,270 $ 666,081 $ 617, Employee Benefits 234, , , , Contractual Services 99,764 80, , , General Materials and Supplies 40,084 28,858 45,125 38, Travel and Conference/Meeting Expenses 6,861 5,274 9,400 10, Fixed Charges 42,921 49,240 63,000 47, Capital Outlay Other (List): Utilities Other Expenditures (4,000) , Transfers to Other Funds (32,563) (24,227) Transfers from Other Funds 32,563 24, $ 1,050,253 $ 1,026,749 $ 1,152,087 $ 1,219, AUXILIARY SERVICES 51 Salaries $ 201,456 $ 113,807 $ 118,999 $ 110, Employee Benefits 80,154 62,562 49,321 45, Contractual Services 11,600 3,157 1, General Materials and Supplies 43,344 6,862 7,150 7, Travel and Conference/Meeting Expenses 9,566 1,472 3,550 4, Fixed Charges Capital Outlay Other (List): Utilities Other (List) ,000 1, Transfers to Other Funds Transfers from Other Funds $ 347,312 $ 188,578 $ 181,620 $ 168,

24 Education Fund Statement of Revenues and Expenditures by Function Code (cont'd) EDUCATION FUND 01 FY 10 Actual FY 11 Actual FY 12 Budget FY 13 Budget 7 OPERATIONS AND MAINTENANCE OF PLANT 51 Salaries $ - $ - $ - $ - 52 Employee Benefits Contractual Services General Materials and Supplies Travel and Conference/Meeting Expenses Fixed Charges Capital Outlay Other (List): Utilities Other (List) Transfers to Other Funds Transfers from Other Funds $ 10 $ 276 $ - $ INSTITUTIONAL SUPPORT 51 Salaries $ 3,896,960 $ 3,790,281 $ 3,880,701 $ 4,069, Employee Benefits 1,569,250 1,695,872 1,934,334 2,163, Contractual Services 694, , , , General Materials and Supplies 872, , , , Travel and Conference/Meeting Expenses 104,923 75, , , Fixed Charges 231, , , , Capital Outlay 5,177 4,884 5,120 4, Other (List): Utilities 323, , ,000 11, Other 440, , , , Provision for Contingency , , Transfers to Other Funds 186, Transfers from Other Funds $ 8,325,195 $ 7,507,926 $ 8,444,565 $ 8,542, SCHOLARSHIPS, STUDENT GRANTS, AND WAIVERS 51 Salaries $ - $ - $ - $ - 52 Employee Benefits Contractual Services General Materials and Supplies Travel and Conference/Meeting Expenses Fixed Charges Capital Outlay Other (List): Utilities Other (List): Other Expenditures 119, ,410 78,500 28, Transfers to Other Funds Transfers from Other Funds $ 119,988 $ 207,410 $ 78,500 $ 28, GRAND TOTAL $ 39,358,660 $ 40,068,457 $ 41,051,973 $ 42,697,508

25 Fiscal Year 2013 Budget Fund 01 Fund 02 Fund 03 Fund 04 Fund 05 Fund 06 Fund 08 Fund 09 Fund 10 Fund 11 Fund 12 Fund 30 Education Oper & Maint Oper & Maint Bond & Int Auxiliary Restricted General General Trust & Agy Audit Liability, Prot Foundation Totals Restricted Enterprises Purposes Fixed Assets L-T Debt & Settle % Revenues by Source 41 Local Government $ 15,924,544 $ 2,772,616 $ 1,267,260 $ 9,753,292 $ - $ 187,106 $ - $ - $ - $ 10,000 $ 1,903,669 $ - $ 31,818,487 35% 42 State Government 10,400,600 1,176, ,428 2,767, ,627,490 16% 43 Federal Governmental ,138-18,167, ,737,950 21% 44 Student Tuition & Fees 16,166,809 2,203, , ,532-15,300-18,999,684 21% 45 Sales & Services Fees 38, ,855, , ,910,550 2% 46 Facilities Revenue % 47 Investment Revenue 93,973 2,439 68,840 42,761 17, ,355 1,543 33, , ,726 1% 48 Gifts, Grants, & Bequests 170, , , , ,530 1,163,130 1% 49 Other Sources 93,500 23, ,280, , , ,919,682 2% Total Budget Revenues $ 42,887,426 $ 6,178,515 $ 1,586,100 $ 10,366,191 $ 3,785,683 $ 21,444,044 $ - $ - $ 643,637 $ 11,543 $ 1,952,719 $ 1,137,841 $ 89,993, % Appropriations by Object 51 Salaries $ 24,883,386 $ 2,308,580 $ - $ - $ 1,548,364 $ 2,125,036 $ - $ - $ - $ - $ - $ - $ 30,865,366 31% 52 Employee Benefits 11,887,955 1,356, , , ,447-15,737,793 16% 53 Contractual Services 1,971,195 1,177,010-3, , , ,634 55,075 30, ,700 4,741,138 5% 54 General Materials & Supplies 2,325, , , , , ,000 46,725 4,089,713 4% 55 Travel & Conference/Mtg Exp 430,720 (20,700) , , , , ,919 1% 56 Fixed Charges 690, ,000-10,323,431 23, , ,000-11,726,882 12% 57 Utilities 23,216 1,459, ,200 4, ,491,096 2% 58 Capital Outlay 36, ,000 2,853, ,200, ,229,974 11% 59 Other Expenditures 248,175 (495,600) - - (19,700) 16,880, , , ,830 18,468,560 19% 60 Provision for Contingency 200, ,000 0% Total Budget Expenses $ 42,697,508 $ 6,672,539 $ 2,853,018 $ 10,326,631 $ 3,722,352 $ 21,344,578 $ 8,200,000 $ - $ 641,928 $ 55,685 $ 1,753,447 $ 1,134,755 $ 99,402, % Transfers 71 Transfers to Other Funds $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 0% 72 Transfers from Other Funds % Total Transfers $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - - Net by Fund $ 189,918 $ (494,024) $ (1,266,918) $ 39,560 $ 63,331 $ 99,466 $ (8,200,000) $ - $ 1,709 $ (44,142) $ 199,272 $ 3,086 $ (9,408,742) Expenditures by Function 0 Other $ - $ - $ - $ - $ - $ - $ 8,200,000 $ - $ 24,168 $ - $ - $ - $ 8,224,168 18% 1 Instruction 23,392, , , ,188,624 24% 2 Academic Support 5,251, ,500 12, ,272,601 5% 3 Student Services 4,094, ,991 28, , ,417,457 4% 4 Public Service/Continuing Ed 1,219, ,984,226 3,942, , ,154,936 8% 6 Auxiliary Services 168, , , ,417 1% 7 Operations & Maint - 6,145,254 2,853, , ,999,352 9% 8 Institutional Support 8,542, ,285-10,326,631 (18,450) ,261 55,685 1,753,447 1,134,755 22,482,104 23% 9 Scholarships, Grants, Waivers 28, ,608, , ,794,782 17% Total Expenses by Function $ 42,697,508 $ 6,672,539 $ 2,853,018 $ 10,326,631 $ 3,722,352 $ 21,344,578 $ 8,200,000 $ - $ 641,928 $ 55,685 $ 1,753,447 $ 1,134,755 $ 99,402,441 92% Fund Balance $ 11,820,095 $ (352,222) $ 18,612,134 $ 5,463,515 $ 1,908,757 $ (179,791) $ 69,253,529 $ (74,009,586) $ 829,541 $ 89,868 $ 4,224,240 $ 8,357,717 $ 46,017,797 Cash Investments