Board of Governors Meeting June 12, 2013

Transcription

1 Board of Governors Meeting June 12, 2013

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

3 FY 13 FY 14 Levy Neutral FY 14 Proposed Net Taxable Value Current Year ($100s) $ 80,739,377 $ 75,591,291 $ 75,591,291 Overall Change in Valuation 2.8% 6.4% 6.4% Change from New Property 0.9% 1.9% 1.9% Estimated Primary Tax Rate Authorization Primary Tax Levy $ 92,721,101 Change from previous fiscal year Truth in Taxation Levy Increase $ 94,461,971 $ 1,740,870 $ 96,348,660 $ 3,627,559 $ 1,886,689 FY 12 FY 13 FY 14 Proposed Primary Tax Rate $ $ $ Secondary Tax Rate $ $ $ Combined Primary and Secondary Rates $ $ $

4 FY12 FY13 FY14 Proposed FY14 Reassessed Residential Property Summary Property Value $ 100,000 Assessment Ratio 0.10 Assessed Value 10,000 $ 100, ,000 $ 100, ,000 $ 93, ,362 PCC Combined Taxes Due $ Change 2.3% $ % $ % $ % Commercial Property Summary Property Value $ 100,000 Assessment Ratio 0.20 Assessed Value 20,000 $ 100, ,000 $ 100, ,500 $ 93, ,256 PCC Combined Taxes Due $ Change 2.6% $ % $ % $ % *Assumes FCV and Limited Value are identical for both residential and commercial property examples $3.00 $ $2.50 $ $ $2.00 $ $ $1.50 $ $ $ $ $1.00 $0.50 $ $0.00 Graham Pinal Yuma/La Paz Yavapai Cochise Maricopa Navajo Pima Mohave Coconino Primary Tax Rate Secondary Tax Rate

5 15% 14% 13% 12% 11% 10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% FY 2001 FY 2002 FY 2003 FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014* State Aid (Operations + Capital) 15% 14% 13% 11% 12% 12% 12% 11% 8% 8% 7% 3% 3% 3% * Proposed $12,500 $11,560 $10,000 $9,910 $7,500 $8,688 $8,489 $8,106 $8,029 $7,578 $7,087 $6,964 $5,000 $4,500 $2,500 $0 Navajo Yavapai Coconino Pinal Mohave Graham Maricopa Pima Yuma/LaPaz Cochise

6 $ $90.00 $80.00 $70.00 $60.00 $92.00 $85.00 $81.00 $77.00 $74.00 $73.00 $71.00 $70.00 $64.00 $60.00 $50.00 $40.00 $30.00 $20.00 $10.00 $0.00 Coconino Mohave Maricopa Pinal Yuma/La Paz Cochise Pima Yavapai Navajo Eastern

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

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

9 Year Per Unit $ Change % Change 04/05 * % 05/ % 06/ % 07/08 ** % 08/09 *** % 09/ % 10/11 **** % 11/ % 12/ % 13/14 # % $120 $100 * Student Services Fee added, $2.50 per unit ** Technology Fee added, $2.00 per unit *** Student Services Fee reduced by $0.50 to $2.00 **** Student Services Fee increased by $0.50 to $2.50 per unit # Student Services Fee increased by $0.50 to $3.00 per unit, and Technology Fee increased by $0.50 to $2.50 per unit $80 $60 $40 $20 $0 04/05 05/06 06/07 07/08 08/09 09/10 10/11 11/12 12/13 13/14 PCC $ per unit Avg. of AZ Community Colleges $ per unit Indexed Avg. of AZ Universities Indexed Avg. of AZ Community Colleges FY13 Proposed FY14 Change Property Tax Levy $ 94.8 $ 97.8 $ 3.0 State Aid Appropriation Tuition and Fees Other Revenue Investment Income Grants and Contracts College Equity Total Resources $ $ $ 14.9

10 Mandatory Cost Increases examples Retirement Costs ASRS rate change from 11.14% to 11.54% Health Benefits Systems Licenses and Maintenance Fees Utilities College Priorities Athletics Information Technology Adult Basic Education College Safety and Security Salary Pool Increases FY 13 Proposed FY 14 Change General Fund $ $ $ 0.2 Designated Fund Restricted Fund Capital Auxiliary Debt Service Total $298.9 $284.0 $ 14.9

11 Restricted Fund $80.0 Capital Fund $23.7 Designated Fund $15.1 Auxiliary Fund $2.1 Debt Service Fund $1.4 General Fund $161.7

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13 PCC Budget Transfers State Forms General $ Designated Total General Fund $ $ $ Auxiliary Restricted Capital Debt Service Total $ $ 0.00 $