State of Illinois. Rock Valley College Community College District 511. Financial Plan Model FYs 14, 15, & 16

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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 14, 15, & 16 FINAL - Fiscal Year 2014 Budget Beginning July 1, Ending June 30, 2014 Submitted to the Board of Trustees: June 25, 2013 Public Hearing by the Board of Trustees: September 24, 2013 Prepared by: Jennifer Porter and Richard Bergmark Director Financial Services Budget Manager Presented by: Sam E. Overton, Jr. VP of Administrative Services & Treasurer Dated: Final September 24, 2013

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 (FPM14) Narrative 6 Operating Funds: Operating Statement of Revenues and Expenditures 7 All Funds Revenues Comparison 8 Operating Revenues by Object (as % by Total Revenues) Chart 9 Operating Revenues Summary 10 All Funds Expenditures Comparison 11 Operating Expenditures by Object (as % of Total Expenditures) Chart 12 Operating Expenditures Summary 13 Operating Expenditures by Function (as % of Total Expenditures) Chart 14 Effect of Student Financial Aid Pass-Through Equalized Assessed Valuation with Tax Rates Property Tax Rate Existing and Proposed (Graph) 19 Credit Hours and Tuition Calculation by Year 20 Positions(Retirement, New, Vacant, Modified, and Deferred) Payroll Comparison by Object Code by Fiscal Year 23 Benefits Analysis Capital Funds: Capital Statement of Revenues and Expenditures 26 Major Capital Projects Narrative 27 Capital Expenditures Detail by Project 28 Actual and Proposed Levy Year Debt (Principal and Interest Combined) Chart 29 Summary of Bond Payments Schedule by Fiscal Year 30 Trust & Agency Funds: Trust and Agency Statement of Revenues and Expenditures 31 Student Activity Fee Actual and Budget Comparison 32 ICCB Official documents: Summary of Fiscal Year 2014 Budget by Fund 33 Education Fund Statement of Revenues and Expenditures 34 Education Fund Statement of Revenues and Expenditures by Function Code Fiscal Year 2014 Budget 38-39

3 Net by Fund by Year ALL RVC FUNDS 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 Actual FY 13 Budget FY 13 Actual FY 14 Budget FY 15 Proposed FY 16 Proposed Fund # Description CAFR CAFR CAFR CAFR CAFR CAFR CAFR CAFR CAFR CAFR CAFR 01 Education (1,396,851) 808,705 1,547,962 $ 1,699,526 $ 887,024 $ 376,355 $ 443,731 $ (254,852) $ 620,980 $ 1,394,425 $ 214,918 $ 2,240,174 $ 544,953 $ (884,406) $ (1,389,324) 02 Operations & Maintenance (610,522) (349,561) 347,646 (27,343) (294,216) 179,551 (181,589) 438,738 2,022 (233,498) (494,024) (57,307) (684,468) (1,408,919) (1,040,141) 03 Ops & Maint - Restricted 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) (1,571,710) (1,266,918) (707,410) (944,283) (6,705,101) (6,620,777) 04 Bond & Interest 1,479, ,340 (1,160,940) (48,142) 434, , ,290 1,885, ,683 (195,920) 39,560 (1,434,716) 34,836 11,746 12, Auxiliary Enterprises (508,661) (358,324) (167,570) (54,707) (109,334) (227,488) (43,314) (104,842) (89,903) (30,151) 63, ,296 54,238 (20,632) (52,885) 06 Restricted Purposes (988,298) (575,561) (321,951) 95,711 (359,828) 513, ,741 11,945 (345,382) 14,209 99,466 (45,632) (230,000) (180,000) (130,000) 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 (4,942,543) (8,200,000) (5,090,546) (6,500,000) (6,500,000) (6,500,000) 09 General Long Term Debt ,521,302 2,329,057 (6,918,140) 3,645,890 (26,387,415) (3,641,493) 7,105,482-7,141,073 (5,012,627) (5,253,873) (6,276,467) 10 Trust & Agency 106,599 (44,984) 153,081 96, ,095 76,031 29,703 (24,869) 31,607 (6,397) 1,709 (26,801) (26,647) (26,647) (26,647) 11 Audit (20,542) (34,055) 7,856 79,384 71,984 37,296 11, ,172 (7,788) (44,142) (42,549) (35,876) (13,509) Liability, Protection & Settlement 5,879 (518,003) 64, , , ,371 (57,247) (58,657) (174,521) 100, , , , ,216 40, Foundation 958, , , , ,361 (787,903) (863,605) 691,792 1,458, ,851 3, ,313 84,030 65,130 69,680 Revenue over (under) Expenditures 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 $ 1,874,982 $ (9,383,742) $ 3,193,866 $ (12,355,691) $ (20,773,995) $ (21,912,618) All Fund Balance 125,058, ,073,980 49,676,360 $ 50,801,028 $ 54,272,654 $ 56,210,592 $ 57,112,841 $ 58,870,671 $ 61,751,557 $ 63,626,538 $ 50,315,204 $ 65,979,129 $ 53,623,438 $ 51,296,671 $ 10,936,825 Operating Funds 01 Education (1,396,851) 808,705 1,547,962 $ 1,699,526 $ 887,024 $ 376,355 $ 443,731 $ (254,852) $ 620,980 $ 1,394,425 $ 214,918 $ 2,240,174 $ 544,953 $ (884,406) $ (1,389,324) 02 Operations & Maintenance (610,522) (349,561) 347,646 (27,343) (294,216) 179,551 (181,589) 438,738 2,022 (233,498) (494,024) (57,307) (684,468) (1,408,919) (1,040,141) 05 Auxiliary Enterprises (508,661) (358,324) (167,570) (54,707) (109,334) (227,488) (43,314) (104,842) (89,903) (30,151) 63, ,296 54,238 (20,632) (52,885) 06 Restricted Purposes (988,298) (575,561) (321,951) 95,711 (359,828) 513, ,741 11,945 (345,382) 14,209 99,466 (45,632) (230,000) (180,000) (130,000) 11 Audit (20,542) (34,055) 7,856 79,384 71,984 37,296 11, ,172 (7,788) (44,142) (42,549) (35,876) (13,509) Liability, Protection & Settlement 5,879 (518,003) 64, , , ,371 (57,247) (58,657) (174,521) 100, , , , ,216 40,658 Revenue over (under) Expenditures (3,518,995) (1,026,799) 1,478,471 $ 2,082,493 $ 424,812 $ 1,142,231 $ 537,092 $ 33,049 $ 19,368 $ 1,237,219 $ 38,821 $ 2,513,953 $ 9,000 $ (2,365,250) $ (2,571,053) Operating Fund Balance 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 $ 17,497,127 $ 17,535,948 $ 20,011,080 $ 20,020,080 $ 17,654,830 $ 15,083,777 Capital Funds 03 Ops & Maint - Restricted 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) $ (1,571,710) $ (1,266,918) $ (707,410) $ (944,283) $ (6,705,101) $ (6,620,777) 04 Bond & Interest 1,479, ,340 (1,160,940) (48,142) 434, , ,290 1,885, ,683 (195,920) 39,560 (1,434,716) 34,836 11,746 12, 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 (4,942,543) (8,200,000) (5,090,546) (6,500,000) (6,500,000) (6,500,000) 09 General Long Term Debt ,521,302 2,329,057 (6,918,140) 3,645,890 (26,387,415) (3,641,493) 7,105,482-7,141,073 (5,012,627) (5,253,873) (6,276,467) Revenue over (under) Expenditures 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 $ 395,309 $ (9,427,358) $ (91,599) $ (12,422,074) $ (18,447,228) $ (19,384,598) Capital Fund Balance 106,483,799 93,370,270 29,940,634 $ 29,242,272 $ 31,415,630 $ 32,923,209 $ 34,122,268 $ 35,180,127 $ 36,551,642 $ 36,946,950 $ 23,592,000 $ 36,014,074 $ 23,592,000 $ 23,592,000 $ (14,239,826) Trust & Agency Funds 10 Trust & Agency 106,599 (44,984) 153,081 $ 96,695 $ 133,095 $ 76,031 $ 29,703 $ (24,869) $ 31,607 $ (6,397) $ 1,709 $ (26,801) $ (26,647) $ (26,647) $ (26,647) 30 Foundation 958, , , , ,361 (787,903) (863,605) 691,792 1,458, ,851 3, ,313 84,030 65,130 69,680 Revenue over (under) Expenditures 1,065, , ,545 $ 658,554 $ 873,456 $ (711,872) $ (833,902) $ 666,923 $ 1,489,999 $ 242,454 $ 4,795 $ 771,512 $ 57,383 $ 38,483 $ 43,033 Trust & Agency Fund Balance 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 $ 9,182,461 $ 9,187,256 $ 9,953,975 $ 10,011,358 $ 10,049,841 $ 10,092,874 Page 3 of 39

4 $3,000,000 $2,000,000 $1,000,000 $ $(1,000,000) $(2,000,000) $(3,000,000) Rock Valley College Operating Funds Net by Year Page 4 of 39

5 COMPARISON Year by Year Total (ALL Funds) FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2013 FY 2014 Actual Actual Actual Actuals Actuals Budget Actuals Budget Revenue $ 66,591,153 $ 70,606,935 $ 81,826,573 $ 88,865,062 $ 88,324,118 $ 89,993,699 $ 88,650,805 $ 88,062,469 Expense 64,653,215 69,704,687 80,068,742 86,186,513 86,449,136 99,327,441 85,456, ,168,160 Contingency , ,000 Net $ 1,937,938 $ 902,248 $ 1,757,831 $ 2,678,549 $ 1,874,982 $ (9,383,742) $ 3,193,866 $ (12,355,691) Fund Balance $ 56,210,592 $ 57,112,841 $ 58,870,671 $ 61,751,557 $ 63,626,538 $ 54,242,796 $ 65,979,129 $ 53,623,438 Cash 19,160,803 14,147,174 38,928,424 28,337,186 27,983,465-27,606,923 - Investments 29,620,835 26,878,787 25,787,820 26,008,213 24,774,782-26,452,786 - Operating (01, 02, 05, 06, 11, & 12) FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2013 FY 2014 Actual Actual Actual Actuals Actuals Budget Actuals Budget Revenue $ 56,100,028 $ 60,490,422 $ 68,313,931 $ 74,711,762 $ 75,661,105 $ 76,259,930 $ 76,523,064 $ 77,171,952 Expense 54,957,797 59,953,331 68,280,882 74,692,394 74,423,886 76,171,109 75,090,783 76,912,952 Contingency , ,000 Net $ 1,142,231 $ 537,091 $ 33,049 $ 19,368 $ 1,237,219 $ 38,821 $ 1,432,281 $ 9,000 Fund Balance $ 15,670,396 $ 16,207,488 $ 16,240,536 $ 16,259,908 $ 17,497,127 $ 17,535,948 $ 20,011,080 $ 20,020,080 Cash 6,216,001 5,527,983 10,525,613 6,607,600 7,097,011-7,189,539 - Investments 11,778,439 11,975,734 8,572,979 10,630,513 12,239,059-14,641,983 - Capital (03, 04, 08, & 09) FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2013 FY 2014 Actual Actual Actual Actuals Actuals Budget Actuals Budget Revenue $ 9,527,989 $ 9,701,756 $ 11,275,814 $ 11,150,066 $ 10,935,029 $ 11,952,291 $ 9,787,509 $ 9,136,382 Expense 8,020,410 8,502,697 10,217,955 9,980,884 10,539,720 21,379,649 8,797,436 21,558,456 Contingency Net $ 1,507,579 $ 1,199,059 $ 1,057,859 $ 1,169,182 $ 395,309 $ (9,427,358) $ 990,073 $ (12,422,074) Fund Balance $ 32,923,209 $ 34,122,268 $ 35,180,127 $ 36,551,642 $ 36,946,950 $ 27,519,592 $ 36,014,074 $ 23,592,000 Cash 12,035,904 7,583,394 27,157,890 20,328,964 19,793,417-19,150,790 - Investments 11,041,729 8,980,480 10,730,800 7,681,554 4,533,267-3,218,442 - Trust & Agency (10 & 30) FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2013 FY 2014 Actual Actual Actual Actuals Actuals Budget Actuals Budget Revenue $ 963,136 $ 414,757 $ 2,236,828 $ 3,003,234 $ 1,727,984 $ 1,781,478 $ 2,340,232 $ 1,754,135 Expense 1,675,008 1,248,659 1,569,905 1,513,235 1,485,530 1,776,683 1,568,720 1,696,752 Contingency Net $ (711,872) $ (833,902) $ 666,923 $ 1,489,999 $ 242,454 $ 4,795 $ 771,512 $ 57,383 Fund Balance $ 7,616,987 $ 6,783,085 $ 7,450,008 $ 8,940,007 $ 9,182,461 $ 9,187,256 $ 9,953,975 $ 10,011,358 Cash 908,898 1,035,797 1,244,921 1,400,622 1,093,037-1,266,594 - Investments 6,800,667 5,922,573 6,484,041 7,696,146 8,002,456-8,592,361 - Page 5 of 39

6 Financial Planning Model (FPM14) Narrative As requested, we are presenting a FY 2014 balanced operating budget. Included are explanations of the associated risks and opportunities. The FY 2014 Capital Budget Detail by Project is also included FY 2014 Budget Process: The Financial Planning Model (FPM) utilizes the Strategic Planning Initiatives to provide the new College Initiatives, 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 14 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 2013 EAV originally estimated at (3.00%) decrease, LY 2014 at no (-0-%) growth Enrollment (credit hour) are budgeted at FY 13 goal of 177,000 credit hours State of Illinois Operating funds estimated at (5.0%) reduction from FY 13 funding levels Payroll includes FY 13 raises of $2,468/FT position, and changes in position headcount, Benefits (Health Claims) expenses are budgeted at insurance broker provided estimates and are realistic Contractual Services - Legal, Architects, Auditors, etc Some expenditures were deferred to FY 15 in order to balance the operating budget, if FY 14 Surplus exists, those deferred expenses should be considered. Contingency(s) budget is $250,000 OPPORTUNITIES: Task Force cost savings recommendations are included Facility Planning will involve many constituent groups Page 6 of 39

7 Operating Statement of Revenues and Expenditures Funds (01, 02, 05, 06, 11, 12) FY 10 FY 11 FY 12 FY 13 FY 13 FY 14 FY 15 FY 16 Operating Funds Summary Actual $ Actual $ Actual $ Budget $ Actual $ Budget $ Proposed $ Proposed $ Revenues 41 Local Government 22,883,447 22,182,392 21,136,041 20,797,935 20,277,661 19,760,768 19,491,600 19,646, State Government 11,767,032 12,854,568 14,590,152 14,627,490 17,085,592 16,511,717 17,653,988 17,653, Federal Government 14,744,363 18,664,520 17,361,221 18,167,812 17,297,052 17,623,570 16,980,820 16,997, Student Tuition & Fees 15,882,533 16,958,309 18,509,974 18,734,152 17,827,881 19,518,225 19,518,226 19,518, Sales & Service Fees 1,513,473 1,694,421 1,846,418 1,893,100 1,934,142 1,922,000 1,922,000 1,922, Facilities Revenue Investment Revenue 74,243 46,657 73, ,459 76,453 87,236 87,236 87, Gifts, Grants & Bequests 188, , , , , , , , Other Revenue 1,259,866 1,905,378 2,025,418 1,579,682 1,731,578 1,540,136 1,546,700 1,615,359 Total Revenues 68,313,931 74,711,762 75,661,105 76,259,930 76,523,064 77,171,952 77,408,870 77,648,345 13% 9% 1% 1% 1% 1% 0% 0% Expenses by Object 51 Salaries 29,914,644 31,693,361 30,865,647 30,865,366 30,086,695 31,586,651 32,091,821 32,091, Employee Benefits 11,987,476 13,361,426 15,389,679 15,737,793 15,903,006 15,762,945 17,688,756 18,438, Contractual Services 3,622,619 3,740,972 4,237,708 4,540,604 4,442,529 4,835,789 4,459,474 4,555, General Materials & Supplies 4,541,979 3,856,473 3,636,101 4,100,978 3,525,847 3,860,333 4,257,409 4,266, Travel & Conf/Mtg Expense 713, , , , , , , , Fixed Charges 1,085,178 1,183,333 1,250,704 1,403,451 1,294,889 1,364,715 1,355,689 1,355, Utilities 1,462,252 1,608,316 1,468,441 1,491,096 1,410,666 1,430,386 1,440,386 1,440, Capital Outlay 617,092 1,108, , , , , , , Other Expenditures 14,335,990 17,530,112 16,721,026 17,113,651 17,223,759 17,092,709 16,831,831 16,768,382 Total Expenses 68,280,882 74,692,394 74,423,886 76,171,109 75,090,783 76,912,952 79,774,120 80,219,398 14% 9% 0% 2% 1% 1% 4% 1% Provision For Contingency 60 Provision For Contingency , , Total Provision For Contingency , , Transfers 71 Transfers to Other Funds , Transfers from Other Funds (1,514,129) Total Transfers (1,081,672) Net 33,049 19,368 1,237,219 38,821 2,513,953 9,000 (2,365,250) (2,571,053) Expense by Function 0 Other (1,081,672) Instruction 22,142,115 23,310,146 23,762,523 24,188,624 24,500,109 24,964,668 25,857,577 26,124,520 2 Academic Support 4,372,749 4,808,580 5,008,321 5,296,801 5,053,980 5,403,210 5,552,193 5,644,279 3 Student Services 3,674,113 3,873,145 3,825,589 4,141,742 3,983,836 4,281,501 4,435,270 4,503,355 4 Public Service/Continuing Ed 7,361,662 8,928,585 8,544,843 8,146,036 7,737,454 7,944,034 7,836,730 7,896,259 6 Auxiliary Services 793, , , , , , , ,330 7 Operations & Mtce of Plant 6,352,734 6,826,169 6,490,711 6,146,334 6,891,883 6,371,742 7,167,919 6,885,543 8 Institutional Support 10,062,748 9,434,055 9,841,639 10,760,457 9,918,394 10,218,331 11,219,530 11,504,463 9 Scholarships, Grants, Waivers 13,521,722 16,723,039 16,118,808 16,637,282 16,159,086 16,830,649 16,780,649 16,730,649 Total Expenses 68,280,882 74,688,402 74,423,886 76,171,109 74,009,111 76,912,952 79,774,120 80,219,398 Change in Beginning Fund Balance Fund Balance 16,240,536 16,259,908 17,497,127 17,535,948 20,011,080 20,020,080 17,654,830 15,083,777 Page 7 of 39

8 All Funds Revenues Comparison OPERATING (01, 02, 05, 06, 11, 12) FY 11 FY 12 FY 13 FY 13 FY 14 % Inc/Dec over prior year Revenues by Source Actual Actual Budget Actual Budget Rev 10/11 11/12 12/13 13/14 41 Local Government $ 22,182,392 $ 21,136,041 $ 20,797,935 $ 20,277,661 $ 19,760,768 26% -3% -5% -4% -5% 42 State Government 12,854,568 14,590,152 14,627,490 17,085,592 16,511,717 21% 9% 14% 17% 13% 43 Federal Governmental 18,664,520 17,361,221 18,167,812 17,297,052 17,623,570 23% 27% -7% 0% -3% 44 Student Tuition & Fees 16,958,309 18,509,974 18,734,152 17,827,881 19,518,225 26% 7% 9% -4% 4% 45 Sales & Services Fees 1,694,421 1,846,418 1,893,100 1,934,142 1,922,000 2% 12% 9% 5% 2% 46 Facilities Revenue % 0% 0% 0% 0% 47 Investment Revenue 46,657 73, ,459 76,453 87,236 0% -37% 58% 4% -42% 48 Gifts, Grants, & Bequests 405, , , , ,300 0% 115% -71% 148% -33% 49 Other Sources 1,905,378 2,025,418 1,579,682 1,731,578 1,540,136 2% 51% 6% -15% -3% Total Revenues $ 74,711,762 $ 75,661,105 $ 76,259,930 $ 76,523,064 $ 77,171, % 9% 1% 1% 1% CAPITAL (03, 04, 08, 09) FY 11 FY 12 FY 13 FY 13 FY 14 % Inc/Dec over prior year Revenues by Source Actual Actual Budget Actual Budget Rev 10/11 11/12 12/13 13/14 41 Local Government $ 10,322,168 $ 9,958,058 $ 11,020,552 $ 9,018,333 $ 8,263,726 90% -1% -4% -9% -25% 42 State Government % 0% 0% 0% 0% 43 Federal Governmental 488, , , , ,138 6% 131% 17% -4% 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 83,287 49, ,601 27,719 52,518 1% -32% -41% -44% -53% 48 Gifts, Grants, & Bequests 250, , , , ,000 3% 0% 0% -30% 0% 49 Other Sources 6, ,614-17,397-0% -97% 1534% -84% 0% Total Revenues $ 11,150,066 $ 10,935,029 $ 11,952,291 $ 9,787,509 $ 9,136, % -1% -2% -10% -24% TRUST & AGENCY (10 & 30) FY 11 FY 12 FY 13 FY 13 FY 14 % Inc/Dec over prior year Revenues by Source Budget Actual Budget Actual Budget Rev 10/11 11/12 12/13 13/14 41 Local Government $ 25,000 $ - $ - $ - $ - 0% 0% -100% 0% 0% 42 State Government % 0% 0% 0% 0% 43 Federal Governmental % 0% 0% 0% 0% 44 Student Tuition & Fees 271, , , , ,023 15% 3% -4% -3% 2% 45 Sales & Services Fees 4,223 1,204 17,450 5,728 17,000 1% -4% -71% 376% -3% 46 Facilities Revenue % 0% 0% 0% 0% 47 Investment Revenue 1,418,526 36, , , ,734 29% 77% -97% 2628% -8% 48 Gifts, Grants, & Bequests 879,243 1,043, , , ,778 35% 21% 19% -33% 1% 49 Other Sources 404, , , , ,600 20% -8% -5% 0% 2% Total Revenues $ 3,003,234 $ 1,727,984 $ 1,781,478 $ 2,340,232 $ 1,754, % 34% -42% 35% -2% Page 8 of 39

9 Operating Revenues by Object (as % of Total Revenue) 40% 35% 30% 25% 20% 15% 10% 5% 0% FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 Local Government 35% 38% 34% 29% 28% 27% 26% 25% 25% State Government 22% 17% 17% 17% 20% 20% 21% 24% 24% Federal Government 15% 17% 22% 25% 23% 24% 23% 22% 22% Student Tuition & Fees 21% 23% 23% 23% 24% 25% 26% 25% 25% Sales & Service Fees 3% 2% 2% 2% 2% 2% 2% 2% 2% Facilities Revenue 0% 0% 0% 0% 0% 0% 0% 0% 0% Investment Revenue 2% 1% 0% 0% 0% 0% 0% 0% 0% Gifts, Grants & Bequests 0% 0% 0% 1% 0% 0% 0% 0% 0% Other Revenue 2% 2% 2% 3% 3% 2% 2% 2% 2% Page 9 of 39

10 Operating Revenues Summary FY 2011 FY 2012 FY 2013 FY 2013 FY 2014 Actual Actual Budget Actual Budget 41 Local Government $ 22,182,392 $ 21,136,041 $ 21,136,041 $ 20,277,661 19,760,768 97% 95% 100% 96% 93% Economic Assessed Valuation (EAV) roughly 1/3 Fair Market Value times tax rate EAV for Levy Year (LY) 2012 is $6.0 billion, LY 2012 declined by (5.94%) from LY 11, LY 2012 estimated at (3.00%) decline, future Levy Years growth rates are also reduced 1.0% EAV $.45/$100 rate equates to $261,000 split between future Fiscal Years Current Tax Rate target is $.4500/$100 EAV. A $.01/$100 EAV tax rate change equates to $581k CPPRT payments ($1.4 million) are included in Local Government revenues and have recovered from previous year's declines 42 State Government - $ 12,854,568 $ 14,590,152 $ 14,590,152 $ 17,085,592 16,511,717 State on-behalf of payments (SURS/CIP) 5,630,985 6,769,529 7,573,200 9,326,339 8,782,700 Base Operating, Equalization and Grants $ 7,223,583 $ 7,820,623 $ 7,016,952 $ 7,759,253 $ 7,729, % 108% 90% 99% 110% ICCB estimates for FY 14 Base Operating Grants (Credit Hour, Square Footage), Equalization are at (5.00%) reduction from FY 13 funding levels. + Actual State funding may be greater than last year's. 43 Federal Government $ 18,664,520 $ 17,361,221 $ 17,361,221 $ 17,297,052 17,623, % 93% 100% 100% 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 $ 16,958,309 $ 18,509,974 $ 18,509,974 $ 17,827,881 19,518, % 109% 100% 96% 105% Effective Fall 2013, RVC Tuition & Universal Fee will $97/credit hour (Tuition $87 + Technology Fee $7 + Student Activity Fee $3) FY 14 Budget assumed a -0-% growth in Credit Hours (CH) as compared to FY13 goal of 177,000 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 $ 74,711,762 $ 75,661,105 $ 75,661,105 $ 76,523,064 77,171, % 101% 100% 101% 102% Page 10 of 39

11 All Funds Expenditures Comparison OPERATING (01, 02, 05, 06, 11, 12) FY 11 FY 12 FY 13 FY 13 FY 14 % Inc/Dec over prior year Expenses by Source Actual Actual Budget Actual Budget Exp 10/11 11/12 12/13 13/14 51 Salaries $ 31,693,361 $ 30,865,647 $ 30,865,366 $ 30,086,695 $ 31,586,651 41% 6% -3% -3% 2% 52 Employee Benefits 13,361,426 15,389,679 15,737,793 15,903,006 15,762,945 21% 11% 15% 3% 0% 53 Contractual Services 3,740,972 4,237,708 4,540,604 4,442,529 4,835,789 6% 3% 13% 5% 7% 54 General Materials & Supplies 3,856,473 3,636,101 4,100,978 3,525,847 3,860,333 5% -15% -6% -3% -6% 55 Travel & Conf/Mtg Expense 609, , , , ,424 1% -15% -9% 5% -2% 56 Fixed Charges 1,183,333 1,250,704 1,403,451 1,294,889 1,364,715 2% 9% 6% 4% -3% 57 Utilities 1,608,316 1,468,441 1,491,096 1,410,666 1,430,386 2% 10% -9% -4% -4% 58 Capital Outlay 1,108, , , , ,000 0% 80% -73% 107% 42% 59 Other Expenditures 17,530,112 16,721,026 17,113,651 17,223,759 17,092,709 22% 22% -5% 3% 0% Total Expenses $ 74,692,394 $ 74,423,886 $ 76,171,109 $ 75,090,783 $ 76,912, % 9% 0% 1% 1% CAPITAL (03, 04, 08, 09) FY 11 FY 12 FY 13 FY 13 FY 14 % Inc/Dec over prior year Expenses by Source Actual Actual Budget Actual Budget Exp 10/11 11/12 12/13 13/14 51 Salaries $ - $ - $ - $ - $ - 0% 0% 0% 0% 0% 52 Employee Benefits % 0% 0% 0% 0% 53 Contractual Services 46,810 11,453 3,200 2,417 2,800 0% 260% -76% -79% -13% 54 General Materials & Supplies % -76% -100% 0% 0% 55 Travel & Conf/Mtg Expense % 0% 0% 0% 0% 56 Fixed Charges 3,690,447 3,617,778 10,323,431 3,182,357 12,441,898 58% 20% -2% -12% 21% 57 Utilities % 0% 0% 0% 0% 58 Capital Outlay 6,242,077 6,908,946 11,053,018 5,611,103 9,113,758 42% -12% 11% -19% -18% 59 Other Expenditures 1,529 1,543-1,559-0% 0% 1% 1% 0% Total Expenses $ 9,980,884 $ 10,539,720 $ 21,379,649 $ 8,797,436 $ 21,558, % -2% 6% -17% 1% TRUST & AGENCY (10 & 30) FY 11 FY 12 FY 13 FY 13 FY 14 % Inc/Dec over prior year Expenses by Source Actual Actual Budget Actual Budget Exp 10/11 11/12 12/13 13/14 51 Salaries $ - $ - $ - $ - $ - 0% 0% 0% 0% 0% 52 Employee Benefits % 0% 0% 0% 0% 53 Contractual Services 230, , , , ,534 10% -8% -19% -29% -12% 54 General Materials & Supplies 121, , , , ,762 7% 17% -7% 18% -3% 55 Travel & Conf/Mtg Expense 95, , , , ,358 7% -20% 14% 49% 8% 56 Fixed Charges % 132% -100% 0% 0% 57 Utilities ,060-0% 0% 0% 0% 0% 58 Capital Outlay 5, ,550 1% 0% -100% 0% 0% 59 Other Expenditures 1,059,857 1,078,037 1,354,909 1,141,593 1,280,548 75% -3% 2% 6% -5% Total Expenses $ 1,513,235 $ 1,485,530 $ 1,776,683 $ 1,568,720 $ 1,696, % -4% -2% 6% -4% Page 11 of 39

12 Operating Expenditures by Object (as % of Total Expenditures) 60% 50% 40% 30% 20% 10% 0% FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 Salaries 48% 47% 44% 43% 41% 41% 41% 40% 40% Employee Benefits 14% 14% 17% 18% 21% 21% 21% 22% 22% Contractual Services 6% 7% 5% 5% 6% 6% 6% 6% 6% General Materials & Supplies 8% 8% 7% 5% 5% 5% 5% 5% 5% Travel & Conf/Mtg Expense 1% 1% 1% 1% 1% 1% 1% 1% 1% Fixed Charges 2% 2% 2% 2% 2% 2% 2% 2% 2% Utilities 3% 2% 2% 2% 2% 2% 2% 2% 2% Capital Outlay 2% 2% 1% 1% 0% 0% 0% 1% 1% Other Expenditures 16% 17% 21% 23% 22% 22% 22% 21% 21% Page 12 of 39

13 Operating Expenditures Summary FY 2011 FY 2012 FY 2013 FY 2013 FY 2014 Actual Actual Budget Actual Budget 51 Salaries $ 31,693,361 $ 30,865,647 $ 30,865,647 $ 30,086,695 $ 31,586, % 97% 100% 97% 102% FY 14 Head count target 511, up from FY 13 of 500, some were grant funded positions, some due to Federal maximum part-time hours/week Some retirements were reallocated, some were not replaced Approved raises have been included in the FY 14 Budget at $2,468 per person, some previously given effective 01/01/2013 Continued improvements in planning for Temporary Employees (Adjunct, Staff & Student Workers) will help monitor and control costs 52 Employee Benefits $ 13,361,426 $ 15,389,679 $ 15,389,679 $ 15,903,006 $ 15,762,945 State on-behalf of payments (SURS/CIP) 5,630,985 6,769,529 7,573,200 9,326,339 8,782,700 FY 14 Budget approximates FY 13 annualized claims rate and is considered a "realistic" target at current full-time headcount $ 7,730,441 $ 8,620,150 $ 7,816,479 $ 6,576,667 $ 6,980, % 112% 91% 76% 89% FY 13 estimates include the change to Blue Cross/Blue Shield. 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 a large percentage of expenditures 53 Contractual Services $ 3,740,972 $ 4,237,708 $ 4,237,708 $ 4,442,529 $ 4,835, % 113% 100% 105% 114% FY 14 includes the RASI/EDA, SBDC/PTAC and other Grant Consulting. 54 General Materials $ 3,856,473 $ 3,636,101 $ 3,761,101 $ 3,525,847 $ 3,860,333 85% 94% 103% 97% 103% 59 Other Expenditures $ 17,530,112 $ 16,721,026 $ 16,721,026 $ 17,223,759 $ 17,092, % 95% 100% 103% 102% Mainly the Federal Government Grants - PELL, etc. from 43xxx Federal Government Revenues Total Expenses by Object $ 74,692,394 $ 74,423,886 $ 74,423,886 $ 75,090,783 $ 76,912, % 100% 100% 101% 103% Page 13 of 39

14 Operating Expenditures by Function (as % of Total Expenditures) 35% 30% 25% 20% 15% 10% 5% 0% FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 Instruction 33% 32% 33% 32% 32% 31% 32% 32% 32% Academic Support 7% 7% 6% 6% 7% 7% 7% 7% 7% Student Services 5% 6% 5% 5% 5% 5% 6% 6% 6% Public Service/Continuing Ed 13% 12% 11% 12% 11% 11% 10% 10% 10% Auxiliary Services 1% 1% 1% 1% 1% 1% 1% 1% 1% Operations & Mtce of Plant 12% 12% 9% 9% 9% 8% 8% 9% 9% Institutional Support 16% 16% 15% 13% 13% 14% 14% 14% 14% Scholarships, Grants, Waivers 13% 14% 20% 22% 22% 22% 22% 21% 21% Page 14 of 39

15 Operating Funds With and Without Student Financial Aid OPERATING (01, 02, 05, 06, 11, 12) FY 14 Budget Excluding Student % Student % FY 14 % Revenues by Source Financial Aid Rev Finacial Aid Rev Budget Rev 41 Local Government $ 19,760,768 32% $ - 0% $ 19,760,768 26% 42 State Government 15,017,417 25% 1,494,300 9% 16,511,717 21% 43 Federal Governmental 3,023,321 5% 14,600,249 91% 17,623,570 23% 44 Student Tuition & Fees 19,518,225 32% - 0% 19,518,225 25% 45 Sales & Services Fees 1,922,000 3% - 0% 1,922,000 3% 46 Facilities Revenue - 0% - 0% - 0% 47 Investment Revenue 87,236 0% - 0% 87,236 0% 48 Gifts, Grants, & Bequests 208,300 0% - 0% 208,300 0% 49 Other Sources 1,540,136 3% - 0% 1,540,136 2% Total Revenues $ 61,077, % $ 16,094, % $ 77,171, % FY 14 Budget Excluding Student Financial Aid $61M 3% 3% 3% 2% FY 14 Budget $77M 32% 32% Local Government 26% State Government 25% Federal Governmental Local Government State Government Federal Governmental 25% 5% Student Tuition & Fees 21% Sales & Services Fees 23% Other Sources Student Tuition & Fees Sales & Services Fees Other Sources Page 15 of 39

16 Operating Funds With and Without Student Financial Aid (continued) FY 14 Budget Excluding Student % Student % FY 14 % Expenses by Source Financial Aid Rev Financial Aid Rev Budget Rev 51 Salaries $ 31,586,651 52% $ - 0% $ 31,586,651 41% 52 Employee Benefits 15,762,945 26% - 0% 15,762,945 21% 53 Contractual Services 4,835,789 8% - 0% 4,835,789 6% 54 General Materials & Supplies 3,860,333 6% - 0% 3,860,333 5% 55 Travel & Conf/Mtg Expense 727,424 1% - 0% 727,424 1% 56 Fixed Charges 1,364,715 2% - 0% 1,364,715 2% 57 Utilities 1,430,386 2% - 0% 1,430,386 2% 58 Capital Outlay 252,000 1% - 0% 252,000 0% 59 Other Expenditures 998,160 2% 16,094, % 17,092,709 22% Total Expenses $ 60,818, % $ 16,094, % $ 76,912, % 8% FY 14 Budget Excluding Student Financial Aid $61M 2% 2% 1% 2% 6% 1% 26% 52% Salaries Employee Benefits Contractual Services General Materials & Supplies Travel & Conf/Mtg Expense Fixed Charges Utilities Capital Outlay 2% 2% 1% 5% 6% 22% 21% FY 14 Budget $77M 41% Salaries Employee Benefits Contractual Services General Materials & Supplies Travel & Conf/Mtg Expense Fixed Charges Utilities Capital Outlay Other Expenditures Page 16 of 39

17 Equalized Assessed Valuation with Tax Rates Calendar Year Levy pg61 Pg60 Pg60 Pg60 Pg60 per Winn Cty Total assessed valuations 6,596,799,828 6,908,494,500 6,908,662,559 6,673,358,941 6,369,040,810 5,990,571,807 5,810,854,653 5,810,854,653 5,927,071,746 6,104,883,898 6,288,030,415 6,476,671,328 6,670,971,467 6,871,100,611 % EAV Growth 7.53% 4.72% 0.01% -3.41% -4.56% -5.94% -3.00% 0.00% 2.00% 3.00% 3.00% 3.00% 3.00% 3.00% Tax rates (per $100 assessed valuation) Educational Fund Operations and Maintenance Fund Debt Service Fund: 1985 Bond Bond Bond Bond A Bond B Bond Refinancing Bond Refinancing Bond Refinancing Bond Bond A Bond B Bond A Bond B Bond Liability, Protection and Settlement Fund: Tort Liability Workers Compensation Unemployment Insurance Property/Casualty FICA Audit Fund Protection, Health and Safety Fund (0.0005) (0.0213) (0.0077) (0.0076) Adjustment for Overextended Tax (0.0074) Tax extension: Educational Fund $ 15,724,300 $ 15,890,026 $ 15,889,947 $ 15,348,493 $ 14,648,794 $ 13,645,785 $ 13,364,966 $ 13,364,966 $ 13,632,265 $ 14,041,233 $ 14,462,470 $ 14,896,344 15,343,234 15,803,531 Operations and Maintenance Fund 2,736,190 2,763,493 2,763,468 2,690,157 2,567,511 2,373,180 2,324,342 2,324,342 2,370,829 2,441,954 2,515,212 2,590,669 2,668,389 2,748,440 Debt Service Fund Bond Bond 991, Bond 303, , , , , , ,840 2,166, Bond 1,810, ,734 1,856,353 1,637, ,975,000 2,990, A Bond 277, B Bond 535,182 2,106,087 2,222,103 1,617, Refinancing Bond 396, , , , , , , , , ,962 1,216,509 4,481,940 4,374, Refinancing Bond 290, , , , , , , ,365 2,353,810 2,420,930 2,853, Refinancing Bond 839, Bond 654,111 3,300,685 1,601,018 1,477,411 1,495,650 1,898, , A Bond - - 3,167,532 3,322,503 3,012, B Bond , , , , ,675 4,383,676 6,138,571 3,894,827 4,307,014 6,381, A Bond ,047 1,182, ,446 1,212,477 1,718,529 1,863,331 1,848, ,044 1,786,856 1,771,062 1,036, B Bond ,350 2,178,181 2,657,962 2,974, Liability, Protection and Settlement Fund: Tort Liability, LY 2012 included Casualty/Malpractice 1,529,110 1,761,308 1,511,604 1,081, ,186 1,236, , , , , , , , ,070 Workers Compensation 191, , , , , , , , , , , , , ,995 Unemployment Insurance 173, , , , , , , , , , , , , ,895 Athletic, LY 2012 change 101, , ,182 73,406 32,040 45,000 45,000 45,000 45,900 47,277 48,695 50,156 51,661 53,211 FICA 383, , , , , , , , , , , , , ,392 Audit Fund 78,810 75,278 60,590 72,436 11,960 11,866 30,000 60,000 61,800 63,654 65,564 67,531 69,557 71,644 Protection, Health and Safety Fund 2,486,010 3,454, , ,364,579 1,398,427 5, ,536 (32,558) (1,342,058) (501,664) (509,514) 2,815,550 Adjustment for Overextended Tax (336,137) - - 5, , $ 29,167,196 $ 31,622,568 $ 31,646,671 $ 30,095,630 $ 28,898,051 $ 26,561,818 $ 26,144,002 $ 27,250,762 $ 26,921,134 $ 27,722,081 $ 28,550,893 $ 29,408,168 30,288,370 31,196,245 % Dollar Growth 2.02% 8.42% 0.08% -4.90% -3.98% -8.08% -1.57% 4.23% -1.21% 2.98% 6.05% 6.08% 2.99% 3.00% Allowance for uncollectible taxes and collection costs (291,672) (316,300) (316,500) (301,000) (311,962) 28,875,524 31,306,268 31,330,171 29,794,630 28,898,051 26,561,818 26,144,002 27,250,762 26,921,134 27,722,081 28,550,893 29,408,168 30,288,370 30,884,282 Page 17 of 39

18 Equalized Assessed Valuation with Tax Rates (cont'd) Calendar Year Levy pg61 Pg60 Pg60 Pg60 Total assessed valuations 6,596,799,828 6,908,494,500 6,908,662,559 6,673,358,941 6,369,040,810 5,990,571,807 5,810,854,653 5,810,854,653 5,927,071,746 6,104,883,898 6,288,030,415 6,476,671,328 6,670,971,467 6,871,100,611 % EAV Growth 7.53% 4.72% 0.01% -3.41% -4.56% -5.94% -3.00% 0.00% 2.00% 3.00% 3.00% 3.00% 3.00% 3.00% Extension less uncollectible 01 Education Fund $ 15,402,293 $ 15,731,026 $ 15,731,047 $ 15,194,993 $ 14,648,794 $ 13,645,785 $ 13,364,966 $ 13,364,966 $ 13,632,265 $ 14,041,233 $ 14,462,470 $ 14,896,344 $ 15,343,234 15,645, Operations & Maintenance Fund 2,678,538 2,735,793 2,735,768 2,663,157 2,567,511 2,373,180 2,324,342 2,324,342 2,370,829 2,441,954 2,515,212 2,590,669 2,668,389 2,720, Capital (PHS) Fund 2,414,051 3,419, , ,364,579 1,398,427 5, ,536 (32,558) (1,342,058) (501,664) (509,514) 2,787, Bond Fund 5,973,567 6,692,492 9,831,053 10,006,831 9,769,456 6,882,223 6,963,267 9,468,657 8,446,420 9,144,561 10,748,024 10,163,623 10,452,803 7,344, Audit Fund 78,010 74,478 59,890 71,636 11,960 11,866 30,000 60,000 61,800 63,654 65,564 67,531 69,557 70, Liability, Protection & Settlement Fund 2,355,794 2,652,831 2,343,385 1,858,013 1,749,448 2,284,185 2,063,000 2,027,370 2,026,284 2,063,238 2,101,680 2,191,666 2,263, ,378 $ 28,902,252 $ 31,306,268 $ 31,330,071 $ 29,794,630 $ 28,747,169 $ 26,561,818 $ 26,144,002 $ 27,250,762 $ 26,921,134 $ 27,722,081 $ 28,550,893 $ 29,408,168 30,288,370 29,263,484 NOTE: Projected EAV growth obtained from BMO Capital Markets Fiscal Year (1/2 + 1/2) FY 06 FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY Education Fund $ 12,475,686 $ 13,369,182 $ 14,670,579 $ 15,566,659 $ 15,731,037 $ 15,463,020 $ 14,921,894 $ 14,147,290 13,505,375 $ 13,364,967 $ 13,498,615 $ 13,836,749 14,251,851 14,679, Operations & Maintenance Fund 2,169,684 2,327,716 2,553,984 2,707,165 2,735,781 2,699,463 2,615,334 2,470,346 2,348,761 2,324,342 2,347,585 $ 2,406,391 2,478,583 2,552, Capital (PHS) Fund 2,564,278 3,312,042 3,177,902 2,916,849 2,024, , ,290 1,381, , ,482 $ 175,489 (687,308) (921,861) 04 Bond Fund 4,768,453 4,960,113 5,698,636 6,333,029 8,261,773 9,918,942 9,888,144 9,769,456 6,882,223 6,963,267 9,468,657 8,446,420 9,144,561 10,748, Audit Fund 146, ,318 90,631 76,244 67,184 65,763 41,798 11,913 20,933 45,000 60,900 $ 62,727 64,609 66, Liability, Protection & Settlement Fund 2,282,674 2,490,627 2,410,834 2,504,313 2,498,108 2,100,699 1,803,731 2,016,817 2,173,593 2,045,185 2,026,827 $ 2,044,761 2,082,459 2,146,673 $ 24,407,510 $ 26,591,997 $ 28,602,566 $ 30,104,260 $ 31,318,170 $ 30,562,351 $ 29,270,900 $ 29,098,110 $ 26,312,388 $ 25,444,688 $ 27,597,066 $ 26,972,537 27,334,755 29,271, (0) Liability, Protection and Settlement Fund Detail Tort Liability $ 1,894,069 $ 2,066,836 $ 1,725,308 $ 1,573,757 $ 1,565,091 $ 1,228,532 $ 974,390 $ 1,062,468 $ 1,028,375 $ 840,000 $ 785,000 $ 754,325 $ 749,375 2,754, Workers Compensation , , , , , , , , , , ,642 1,677, Unemployment Insurance , , , , , , , , , , , , Casualty , , ,210 87,411 52,196 38,520 45,000 45,000 45,450 46,123 47, , FICA 388, , , , , , , , , , , , ,428 2,146, Athletics Insurance ,000 55,000 55,000 55,000 55,000 55,000 55,000 55,000 55,000 55,000 55,000 55,000 $ 2,282,674 $ 2,490,627 $ 2,410,834 $ 2,504,166 $ 2,497,877 $ 2,097,767 $ 1,792,136 $ 2,016,817 $ 2,173,593 $ 2,045,185 $ 2,026,827 $ 2,024,313 2,061,634 2,201, ,932 11, ,448 20,825 (55,000) Tax Rate changes - $ , , , , , , , , , , , , , ,110 EAV change % at $ , , , , , , , , , , , , , ,200 Levy Year EAV / 1,000 6,596,800 6,908,495 6,908,663 6,673,359 6,369,041 5,990,572 5,810,855 5,810,855 5,927,072 6,104,884 6,288,030 6,476,671 6,670,971 6,871,101 Debt Service Tax Rate Debt Service Dollars 6,098,433 6,760,192 9,930,453 10,107,931 9,769,456 6,882,223 6,963,267 9,468,657 8,446,420 9,144,561 10,748,024 10,163,623 10,452,803 7,418,517 Page 18 of 39 Target Debt Rate.1000 difference (0.0439) (0.0512) (0.0535) (0.0149) (0.0198) (0.0630) (0.0424) (0.0498) (0.0709) (0.0569) (0.0567) (0.0080) Dollars Gained (Lost) 507, ,078 (3,032,903) (3,416,760) (3,406,362) (891,651) (1,152,412) (3,660,838) (2,513,078) (3,040,232) (4,458,214) (3,685,226) (3,782,441) (549,688) Facilities Master Plan, Major Capital Projects: ~~ CL1, CL2 or SCCE ~~ AIC Construction (75% State funded, 25% Local funding) 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000, Debt Dollars 6,098,433 6,760,192 9,930,453 10,107,931 9,769,456 6,882,223 6,963,267 9,468,657 8,446,420 9,144,561 10,748,024 10,163,623 10,452,803 7,418,517 EAV / 1,000 6,596,800 6,908,495 6,908,663 6,673,359 6,369,041 5,990,572 5,810,855 5,810,855 5,927,072 6,104,884 6,288,030 6,476,671 6,670,971 6,871,101 Bond Debt Tort Fund

19 Property Tax Rate Existing and Proposed Tax Rates (per $100 assessed valuation) Protection, Health and Safety Fund (0.0005) (0.0213) (0.0077) (0.0076) Bond Debt Tort Fund Audit Fund Operations and Maintenance Fund Educational Fund Page 19 of 39

20 Credit Hours and Tuition Calculation by Year FY 2003 FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2013 FY 2014 FY 2015 FY 2016 Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Budget Actual Budget Proposed Proposed pg 64 pg 79 pg 77 pg 62 pg 62 pg 101 pg 73 pg 71 pg 74 pg % 100% 100% 100% 100% 95% Baccalaureate 95, , , , , , , , , , , , , , ,731.3 Business Occupational 9, , , , , , , , , , , , , , ,319.1 Technical Occupational 20, , , , , , , , , , , , , , ,648.7 Health Occupational 7, , , , , , , , , , , , , , ,328.6 Remedial Development 17, , , , , , , , , , , , , , ,993.4 Adult Basic & Secondary Ed 7, , , , , , , , , , , , , , ,093.3 Total 158, , , , , , , , , , , , , , ,114.4 % Growth 7.9% 2.9% -1.6% -2.7% -1.2% 0.2% 7.6% 11.9% 1.3% -4.3% -4.8% -4.1% 0.0% 0.0% 0.0% from FY 12 Budget Student Headcount 15,559 15,552 15,449 15,682 15,734 15,340 16,420 17,436 16,530 15,855 - Student FTE 5,292 5,484 5,357 5,214 5,622 5,602 6,003 6,218 6,302 6,029 - Credit Classes Non-credit Classes Tuition & Fee Revenue 8,905,322 10,073,762 11,412,308 11,940,403 12,561,014 12,330,473 14,019,811 16,145,030 17,229,767 18,999,684 18,999,684 19,788,428 19,788,248 19,788,428 19,788,428 Average Tuition & Fee/Credit Hour Instructional Expense 14,974,762 15,461,760 15,959, ,520 8,329,091 17,755,114 19,723,160 21,996,905 23,210,934 24,188,624 24,188,624 25,857,577 24,964,668 25,857,577 26,124,520 Direct Unit Cost Tuition Tech Fee Student Activity Total Credit Hours less ABE hours 150, , , , , , , , , , , , , , ,021 Tuition & Fees Revenue Summary 7,843,836 9,102,578 9,153,319 9,325,668 10,183,986 10,200,201 11,582,850 12,901,234 14,031,440 15,568,479 16,462,953 15,060,513 17,171,037 17,171,037 17,171,037 Tuition & Fees Revenue Detail: Education 85% Tu $ 5,769,744 $ 6,669,991 $ 6,725,361 $ 6,904,003 $ 7,652,749 $ 7,664,933 $ 8,781,052 $ 9,780,529 $ 10,584,967 $ 11,810,281 $ 12,488,831 $ 11,424,937 $ 13,090,702 $ 13,090,702 $ 13,090, Tech Fee 603, , , , , , , ,705 1,052,358 1,171,821 1,239,147 1,133,587 1,239,147 1,239,147 1,239, Ops & Maint - 15% 1,018,190 1,177,058 1,186,829 1,218,353 1,350,485 1,352,635 1,549,597 1,725,976 1,867,935 2,084,167 2,203,911 2,016,165 2,310,124 2,310,124 2,310, Auxilary 226, , , , , , , , , , , , , , , Trust & Agency 226, , , , , , , , , , , , , , ,532 $ 7,843,836 $ 9,102,578 $ 9,153,319 $ 9,325,668 $ 10,183,986 $ 10,200,201 $ 11,582,850 $ 12,901,234 $ 14,031,440 $ 15,568,479 $ 16,462,953 $ 15,060,513 $ 17,171,037 $ 17,171,037 $ 17,171, Rock Valley College Credit Hours by Fiscal Year 250, , , ,000 50,000 0 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2013 FY 2014 FY 2015 FY 2016 Baccalaureate Business Occupational Technical Occupational Health Occupational Remedial Development Adult Basic & Secondary Ed Page 20 of 39

21 Positions (Retirement, New, Vacant, Modified, and Deferred) VACANT (due to Retirement) POSITIONS (actively seeking replacement) # of open Leadership Fd/Funct/Obj $ Amount Position Department FT/CPT Positions Brian Sager ,000 Philosophy facutly Philosophy FT 1 Bill Scarpaci Brian Sager ,000 Education faculty Education FT 1 Mimi Fagan Brian Sager ,000 Budilding Construction faculty Engineering and Technology FT 1 Bill Lawson Brian Sager ,000 Aviation Maintenance Aviation Maint FT 1 Scott Fisher Brian Sager ,000 CIS faculty CIS FT 1 fill C. Nelson's position Brian Sager ,761 AA3 AVP Academics FT 1 Katie Boughton Dr. Nyhammer ,059 Operations Spt Grp Mgr IT - Academic / IT - Admin FT 1 Marilyn Lindeman FT 0-355,820 7 VACANT (NEW) POSITIONS (actively seeking replacement) # of open Leadership Fd/Funct/Obj $ Amount Position Department FT/CPT Positions Brian Sager , Comp & Lit faculty Composition and Literature FT 1 K. Webb (FY13 funded with FOU $s) Brian Sager , MassCom Lab Tech Mass Comm PT 0.5 Brian Sager , PoliSci faculty Social Science Department FT 1 New position in FY14 discuss potential need for additional FAC Brian Sager ?? Biology Faculty Biology FT 0 was funded with FOU $ in FY13 Brian Sager , Chemistry Faculty Physical Science FT 1 New position in FY14 (funding offset by adjunct faculty budget) Brian Sager , MET faculty Eng and Tech FT 1 Advance Now Brian Sager , Welding faculty Welding FT 1 Advance Now Brian Sager ?? C.N.A. faculty Nursing (CNA) FT 0 discuss potential need for additional FAC Amy Diaz , Advisor / counselor Academic & Transfer Advising FT 1 New position in FY14 Mike Mastroianni , AA1 Regional Career Training Center PT 1 M. Warren Jessica Jones , HR Projects assistant Human Resources PT 0.5 New position in FY14 Jessica Jones , Wellness Coordinator Human Resources PT 0.5 New position in FY14 Mike Mastroianni , IDOT Coordinator Community/Continuing Ed FT 1 S. Abbott Mike Mastroianni , DWP Counselor Dislocated Worker Program FT 1 grant funding increase for Stephenson County FT 0-460, Page 21 of 39

22 Positions (Retirement, New, Vacant, Modified, and Deferred) VACANT (DEFERRED) POSITIONS # of open Leadership Fd/Funct/Obj $ Amount Position Department FT/CPT Positions Brian Sager ???? Assoc Dean of Math Math FT 0 (previous incumbent=v. Madama) FT FT MODIFIED POSITIONS # of open Leadership Fd/Funct/Obj $ Amount Position Department FT/CPT Positions Susan Busenbark , Tutor and Writing Center CoordinatoTutor Center FT 0 Position reclass to and grade increase Brian Sager , Biology Lab Tech IT - Academic FT 0 Convert C-PT to C-FT (L. Strong) Dr. Nyhammer , Desktop Engineer IT - Academic FT 0 A. William's retirement (M. Meinert) Dr. Nyhammer IT - Academic FT 0 A. William's retirement (M. VergeldeDios) Dr. Nyhammer IT - Academic FT 0 A. William's retirement (D. Verma) Dr. Nyhammer , IT - Academic FT 0 A. William's retirement (M. Gear) Dr. Nyhammer , IT - Academic FT 0 A. William's retirement (S. Medrano)(C-PT to C-FT) Amy Diaz , Recruiter Recruitment and Admissions FT 0 C-PT to C-FT conversion (J. Castree) Amy Diaz , Recruiter Recruitment and Admissions FT 0 C-PT to C-FT conversion (B. V-H) Amy Diaz , Counselor Academic & Transfer Advising FT 0 Increased hours (J. Quisenberry) Amy Diaz , H.S. Connections Specialist H.S. Connections FT 0 Grade increase (C. Peterson) Sam Overton , A/R Clerk Financial Services FT 0 J. Sullivan resignation(r. Antczak) Sam Overton , A/R Clerk Financial Services FT 0 J. Sullivan resignation(m. Cornish) Pam Owens , Director of PR and Communications Institutional Advancement FT 0 Grade increase (N. Chamberlain) Pam Owens , Director of Development Institutional Advancement FT 0 C-PT to C-FT conversion (B. Freiberg)(funded by Foundation) Dr. Nyhammer , Benefits Specialist Human Resources FT 0 Grade increase (B. Woodsmall) Sam Overton , Maintenance Team Leader FPOM FT 0 D. Wedemeyer retirement (L. Morgan) Sam Overton , Maintenance Team Leader FPOM FT 0 D. Wedemeyer retirement (B. Seele) Sam Overton , Maintenance Specialist FPOM FT 0 D. Wedemeyer retirement (Maintenance Specialist) Sam Overton , FPOM, Office Manager FPOM FT 0 Position reclassification to Mike Mastroianni , AA2 RASI FT 0 C-PT to C-FT (J. Dedrick) Mike Mastroianni , RP Tech RASI FT 0 C-PT to C-FT (J. Metters) FT 0-248,774 0 Page 22 of 39

23 Salary and Headcount Summary FY 11 FY 12 FY 13 (Budget) FY 13 (Actual) FY 14 FY 15 FY 16 Headcount (Continuous Employees ONLY) Amount / Amount / Amount / Amount / Amount / Amount / Amount / FY11 FY12 FY13 FY14 Object Code Object Code Description % of Change % of Change % of Change % of Change % of Change % of Change % of Change XX Admin Staff 3,134,674 2,939,839 2,999,201 2,847,634 2,875,324 3,115,044 3,115, % -6.2% 2.0% -3.1% -4.1% 8.3% 0.0% XX Prof/Tech 5,108,420 4,967,654 4,836,574 4,681,484 5,225,660 5,184,761 5,184, % -2.8% -2.6% -5.8% 8.0% -0.8% 0.0% XX Faculty 14,871,641 14,751,745 14,879,879 14,579,266 14,915,658 15,209,658 15,209, % -0.8% 0.9% -1.2% 0.2% 2.0% 0.0% XX Supervisory 628, , , , , , , % -10.4% -6.3% -4.9% 19.5% 0.0% 0.0% XX Academic Support Staff 306, , , , , , , % -8.2% 3.7% -1.5% 19.0% 0.0% 0.0% XX Office Staff 4,715,902 4,535,526 4,647,050 4,541,180 4,796,600 4,808,949 4,808, % -3.8% 2.5% 0.1% 3.2% 0.3% 0.0% XX O&M Staff 1,065,469 1,032,373 1,072,160 1,039,722 1,074,677 1,074,677 1,074, % -3.1% 3.9% 0.7% 0.2% 0.0% 0.0% XX RVC Student Employees 904, , , , , , , % -17.7% 5.3% -10.2% -3.6% 0.0% 0.0% XX Other Staff 958,603 1,050,670 1,050, , , , , % 9.6% 0.0% -12.7% -7.9% 0.0% 0.0% Total 31,693,361 30,865,647 31,087,248 30,086,695 31,586,651 32,091,821 32,091,821 Total % of Change 0.0% -2.6% 0.7% -2.5% 1.6% 1.6% 0.0% Continuous Employee Position Count by FY FY14 Note: Changes in Payroll amounts are due to the economic benefit of FY11 FY12 FY13 FY14 retirements, terminations, resignations, and reorganizations Full-Time Part-Time Page 23 of 39

24 Benefits Analysis Actuals Budget Proposed FY10 FY11 FY12 FY13 FY13 FY14 FY15 FY16 College-wide Allocatable Costs as of: EOY Health Self- Insured $ 5,514,929 $ 5,367,858 $ - - $ 6,534,644 9% $ 4,192,633 11% $ 4,677,100 11% $ 5,191,700 PPO ,938,987 3,342,547 Stop Loss , ,397 Benefit Reserve ,812 Health HMO , , , ,443 1,020,636 9% $ 1,033,164 11% 1,146,900 11% $ 1,273,100 Dental % 462,555 11% 513,500 11% 570,000 Group Life ,549 67,964 71,695 65, ,900 9% 70,875 11% 78,700 11% 87,400 Long Term Disability ,867 (3,045) 2, % - 9% - 11% - Tuition Reimb-Ofc Staff ,875 6,600 6,375 3,600 8,400 0% 15,000 0% 15,000 0% 15,000 Tuition Reimb-Prof/Admn Staff ,600 2,850 5,925 3,150 9,800 0% 15,000 0% 15,000 0% 15,000 Tuition Reimb- Faculty ,350 11,250 16,650 6,150 26,600 0% 15,000 0% 15,000 0% 15,000 Flexplus Administration ,972-9% - 11% - 11% - Health Insurance Administration Fee ,200 9% 587,522 11% 652,200 11% 724,000 Wellness , ,000 9% 10,900 11% 12,100 11% 13,500 Staff Tuition Waivers ,527 38,118 74, ,800 9% 75,000 11% 83,300 11% 92,500 Dependent Tuition Waiver , , , , ,000 9% 110,000 11% 122,100 11% 135,600 Wellness Savings xxxxx % (11,700) 0% (11,700) 0% (11,700) Deductible Increase - - (39,075) - (134,000) 0% - 0% - 0% - Est HealthCare Insurance Reduction (272,000) 0% - 0% - 0% - Employee contribution (602,977) (652,616) (592,931) - 8% (1,034,400) 15.0% (941,400) 17.5% (1,223,200) 17.5% (1,357,800) Net allocatable benefits $ 5,950,619 $ 5,792,694 $ 6,588,324 5,288,749 $ 6,835,580 $ 5,634,549 $ 6,096,000 $ 6,763,300 Gross allocatable benefits $ 6,553,596 $ 6,445,310 $ 7,220,330 5,288,749 $ 8,275,980 $ 6,575,949 $ 7,319,200 $ 8,121,100 Employee contribution (602,977) 10.8% (652,616) 9.2% (592,931) 8.2% - 0.0% (1,440,400) 17.4% (941,400) 14.3% (1,223,200) 16.7% (1,357,800) Net allocatable benefits $ 5,950,619 $ 5,792,694 $ 6,627,399 5,288,749 $ 6,835,580 $ 5,634,549 $ 6,096,000 $ 6,763,300 Employee headcount Net allocatable benefits per employee $ 15,206 $ 14,073 $ 15,765 11,547 $ 15,465 $ 12,466 $ 13,487 $ 14,963 Page 24 of 39

25 Benefits Analysis (cont'd) Actuals Budget Proposed FY10 FY11 FY12 FY13 FY13 FY14 FY15 FY16 Non-allocatable costs as of: EOY SURS Retirement Insurance 52080(various) $ 127,351 $ 132,831 $ 130, ,922 $ 117,568 $ 122,642 $ 123,859 $ 123,859 Supplemental Life Matching Ins-Health& Life Grants 52155(various) (5,578) 298,454 53, Worker's Compensation Insurance , , , , , , , ,400 Worker's Comp-Grants and RASI 52205(various) (290) (301) 5,726 4,533 1,441 4,740 4,440 4,440 Sabbatical Leave - Faculty ,690 38,896 56,335 43,387 40,000 75,000 75,000 75,000 Administrative Sabbaticals Unemployment Ins , , , , , , , ,200 Medicare , , , , , , , ,076 Medicare - Grants FICA- Social Security 52600(various) 87,888 98,795 92,663 90,580 96,117 96,078 96,961 96,961 Staff/Family Tuition Waivers , Retiree Health Ins ,768 28,330 28,028 16,070 22,280 10,790 9,160 9,160 FOP Education Benefit (one-time) ,500-1, Moving Allowance ,598 7,567 6,033 3,801 12,000 12,000 12,000 12,000 Medical Exams Wellness Expense 52935(various) Grant SURS Expense 52940(various) 118, , ,043 96, ,180 80,952 76,887 76,887 Grant SURS Self-managed 52941(various) 6,317 3,626 3,585 3,607-1,090 1,090 1,090 Employer SURS Expense 52960(various) 16,359 16,882 16,821 17,896 13,177 13,177 13,177 13,177 SURS On-behalf payment 52998(various) 4,855,542 5,630,985 6,769,529 Note 1 9,326,339 7,573,200 8,782,700 10,185,200 11,811,700 Admin. Benefits - Annuities 52990(various) 37,026 31,425 28,383 24,896 28,550 28,550 28,550 28,550 Admin. Benefits - Car Allowance 52991(various) 21,800 17,800 15,800 18,396 15,800 15,800 15,800 15,800 Admin. Benefits - Other 52992(various) 9,900 9,900 10,484 9,316 9,764 9,764 9,764 9,764 Admin. Benefits - Cell Phone 52993(various) 3,100 4,550 3,450 5,375 2,400 4,500 4,500 4,500 Admin. Benefits - Internet Allow 52994(various) 2,157 2,158 2,158 2,607 2,158 2,158 2,158 2,158 GASB47 Adjustment (104,740) (19,362) (128,725) (159,084) (59,574) (47,338) (50,094) (50,737) Total Non-allocatable Costs 6,036,857 7,331,847 8,130,274 10,624,026 8,942,177 14% 10,192, ,667,028 13,376,085 Total Allocatable Costs 5,950,619 5,792,694 6,588,324 5,288,749 6,835,580-18% 5,634, ,096,000 6,763,300 Total Benefits $ 11,987,476 $ 13,124,541 $ 14,718,599 15,912,775 $ 15,777,757 0% $ 15,826, $ 17,763,028 $ 20,139,385 Note 1: The FY11 SURS On-behalf amount of $3,500k was not part of our Board of Trustees approved FY11 Budget. $ 11,987,476 $ 6,899,413 $ 6,899,413 - (0) (6,225,128) (7,819,186) (15,912,775) Gross benefits $ 11,987,476 $ 13,124,541 $ 14,718,599 15,912,775 $ 15,777,757 $ 15,826,988 $ 17,763,028 $ 20,139,385 Employee Headcount % % % % % 452 (0.000) % 452 Gross benefits per Employee $ 27,813 $ 28,656 $ 32,137 34,744 $ 35,696 $ 35,015 $ 39,299 $ 44,556 Less: SURS On-behalf 4,855,542 5,630,985 6,769,529 9,326,339 7,573,200 8,782,700 10,185,200 11,811,700 Benefits net of SURS On-behalf 7,131,934 7,493,556 7,949,070 6,586,436 8,204,557 7,044,288 7,577,828 8,327,685 Page 25 of 39

26 Capital Statement of Revenues and Expenditures Funds (03, 04, 08, 09) FY 10 FY 11 FY 12 FY 13 FY 13 FY 14 FY 15 FY 16 Capital Funds Summary Actual $ Acutal $ Actual $ Budget $ Actual $ Budget $ Proposed $ Proposed $ Revenues 41 Local Government 10,462,932 10,322,168 9,958,058 11,020,552 9,018,333 8,263,726 7,665,194 9,663, State Government Federal Government 211, , , , , , , , Student Tuition & Fees Sales & Service Fees Facilities Revenue Investment Revenue 122,422 83,287 49, ,601 27,719 52,518 52,518 52, Gifts, Grants & Bequests 250, , , , , , , , Other Revenue 228,815 6, ,614-17, Total Revenues 11,275,814 11,150,066 10,935,029 11,952,291 9,787,509 9,136,382 8,537,850 10,526,844 Expenses by Object 16% -1% -2% 9% -10% -24% -7% 23% 51 Salaries Employee Benefits Contractual Services 12,987 46,810 11,453 3,200 2,417 2,800 2,800 1, General Materials & Supplies Travel & Conf/Mtg Expense Fixed Charges 3,079,017 3,690,447 3,617,778 10,323,431 3,182,357 12,441,898 12,787,278 16,306, Utilities Capital Outlay 7,125,864 6,242,077 6,908,946 11,053,018 5,611,103 9,113,758 14,195,000 13,603, Other Expenditures - 1,529 1,543-1, Total Expenses 10,217,955 9,980,884 10,539,720 21,379,649 8,797,436 21,558,456 26,985,078 29,911,442 Provision For Contingency 20% -2% 6% 103% -17% 1% 25% 11% 60 Provision For Contingency Total Provision For Contingency Transfers 71 Transfers to Other Funds ,514, Transfers from Other Funds (432,457) Total Transfers ,081, Net 1,057,859 1,169, ,309 (9,427,358) (91,599) (12,422,074) (18,447,228) (19,384,598) Expense by Function 0 Other 8,507,457 7,702,352 7,154,094 8,200,000 7,085,521 6,432,317 6,447,753 6,511,233 1 Instruction (145,258) (99,212) (99,435) - (93,361) Academic Support (63,707) (15,343) (18,060) - (110,605) Student Services Public Service/Continuing Ed - (484,183) (4,880) Auxiliary Services Ops & Maintenance of Plant (78,670) (367,139) (51,038) 2,853,018 (197,121) 2,613,758 7,695,000 7,103,231 8 Institutional Support 1,998,133 3,244,409 3,559,039 10,326,631 3,194,674 12,512,381 12,842,325 16,296,978 9 Scholarships, Grants, Waivers Total Expenses 10,217,955 9,980,884 10,539,720 21,379,649 9,879,108 21,558,456 26,985,078 29,911,442 Change in Beginning Fund Balance - 202, (841,277) Fund Balance 35,180,127 36,551,642 36,946,950 27,519,592 36,014,074 23,592,000 5,144,772 (14,239,826) Page 26 of 39

27 Major Capital Projects Narrative Most Current & Future Capital Projects are included in 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 captial projects As of April 2013 remaining RVC Capital Bond funds approximately $14.7 million Arts Instructional Center - Total $48 million, LEED Gold Total (000,000) State (75%) Local (25%) State funding allocation received March 2003 $9,577,800, April 2003 $1,085,000 and July ,961,899 Total available per Capital Development Board (CDB) website Architects have been re-engaged, A/E fees to date = $2,601,399 (2.6) (2.6) Architect meetings 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 to determine programming, location, size, estimated costs Classroom Building I (CLI) Addition & Renovations - Total $20,607,673 Total (000,000) State (75%) Local (25%) CLI Addition 21,000-25,800 $225-$276/SF CLI Renovations 61,206 ~ $220/SF CLI Asbestos 61,206 ~ $22/SF PH&S 2012 Levy (1.4) Existing Bonds 9.1 RVC Board Approval June 2012, CDB Approval December 2012, with Quality Based Selection of Project Architect (SGA) Project Estimated Timeline for a LEED Gold designation: Conceptual & Schematic Design by August 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, starting November 2014 Instructional Use by August Realistic target Classroom Building II (CLII) Addition & Renovations - Est. Total $23.5 million State (75%) Local (25%) Increase over CLI - specialty space higher cost $600k, size of addition $600k, construction inflation 3%/year for 2 years $900k increased contingency $300k, additional furniture (FF&E) $500k, totaling $2.9 million Similar to CLI, RVC would "carve-out" asbestos, security, technology, and FF&E estimated total $2.5 million Since at least 50% of the CLII Addition supports Arts, the minimum CDB support would be 75% of that 50% or $2.7 mil, maximum $5.4 mil The remaining renovations would total $13.8 mil (23.5 less 2.5 less 7.2) at 75% or $10.4 mill CLII Addition 21,000-25,800 $271-$333/SF split CLII Renovations 61,600 ~ $263/SF split CLII Asbestos 61,600 ~ $13/SF LY Transitional Logistical planning, physical moves and Abestos Abatement PH&S 2008 Levy (0.8) Construction approxiamtely months Bonds 9.6 Instructional Use by August Optimistic Remaining CDB funds between $9.0 and $11.7 million, depending upon the CLII Addition usage and capital application Performance Venues Total (000,000) State (75%) Local (25%) Board Facilities Committee recommendation for MAIN campus location for a 500 seat Music/Vocal venue and 300 seat Studio Thrust Theater As of April 30, 2013, the RVC Foundation has approximately $2.7 million available to support Capital Projects for the Arts Board Facilities Committee recommends engaging Saavedra Gehlhausen Architect to review Performance Venue space programming needs such as - rehearsal space, dressing rooms, stage support, storage, acoustical requirements, HVAC and electrical needs to better estimate square footage and estimated costs 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; Special State Capital allocation $200k and from previous Capital Bills $100k Page 27 of 39