Chabot Las Positas Community College District Adoption Budget Fiscal Year Beginning July 1, 2009 And Ending June 30, 2010

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1 Chabot Las Positas Community College District Adoption Budget Fiscal Year Beginning July 1, 2009 And Ending June 30, 2010 Board of Trustees of Chabot-Las Positas CCD County of Alameda and State of California Joel L. Kinnamon, Ed.D. Chancellor

2 CHABOT - LAS POSITAS COMMUNITY COLLEGE DISTRICT Board of Trustees Dr. Hal G. Gin President Mr. Donald L. Dobie Gelles Secretary Dr. Arnulfo Cedillo Mrs. Isobel F. Dvorsky Dr. Barbara F. Mertes Dr. Marshall Mitzman Mr. Carlo Vecchiarelli Mr. Sudharsan Dwaraknath Student Trustee Mr. Evani Gil Student Trustee Administrative Officers Dr. Joel L. Kinnamon Chancellor Mr. Lorenzo Legaspi Vice Chancellor, Business Services Ms. Judy Hutchinson Budget Officer Chabot College Dr. Celia Barberena - President Las Positas College Dr. DeRionne Pollard President Chabot - Las Positas Community College District District Offices 5020 Franklin Drive Pleasanton, CA Phone: (925)

3 Table of Contents Chabot - Las Positas Community Colleges Annual Budget Introduction... 3 Full Time Equivalent Student (FTES) Enrollments... 8 Board of Trustees Priorities... 9 Major Revenue Assumptions Major Expenditure Assumptions District Medical and Dental Premium Rates General Fund Source of Funds...13 Use of Funds...14 District Revenue By Object...15 District Expenditure By Object...16 District General Fund...18 Chabot College...23 Las Positas College...28 District Operations...32 Self Insurance Fund Cafeteria Fund Child Development Fund Capital Project Fund Capital Outlay Projects Fund...42 Property Sale Fund...43 Measure B Funds Budget Calendar Glossary of Finance Terms Sound Fiscal Management Self-Assessment Checklist...52

4 Chabot-Las Positas Community College District Introduction Coming up with this year s State budget has proven to be the most elusive in recent history. The Governor and legislators crafted numerous budget proposals that never fully materialized and forced districts into being reactive. The entire state budget process became a guessing game for districts trying to decipher the financial impact of the proposed budget of the day. A quick chronology of budget events will help us understand how we arrived at this year s budget. September 23, By the time the fiscal year was signed into law, the budget was already out of balance by over $1.1 billion. November 2008 A month later, the budget shortfall for fiscal year had grown to $11.2 billion. In addition, the Governor projected a $13 billion shortfall for fiscal year The Governor declared a fiscal emergency which triggered a special session of the legislature. December The Governor and legislature engaged in numerous budget debates and deliberations with no resolution. In the meantime, the budget deficit had ballooned to $41.6 billion. January On January 1, 2009, the Governor released his January Budget Proposal for the fiscal year The proposal included spending reductions, new revenue, securitizing lottery revenue and borrowing, totaling $41.6 billion. February 19, A budget bill was signed into law and proclaimed as the earliest budget adoption in the history of California. However, several aspects of the budget deal required voter approval in a state-wide election. May 19, 2009 A special election was held to consider Propositions 1A, 1B, 1C, 1D, 1E and 1F to raise additional state revenue. Except for 1F, limiting legislators pay, the propositions failed. June 2, The Governor released the details behind his May Revision which included additional cuts as a result of the failed propositions. For the first time, districts had some concrete numbers to develop their budgets. June 23, The Chabot-Las Positas Community College District submits its Tentative Budget. In response to the proposed cuts, the district developed a set of guiding principals and identified reductions of $5.5 million in unrestricted funds and $3.9 million in categorical funds for the fiscal year and July 28, 2009 After days of marathon hearings in the legislature, the Governor signed a series of trailer bills to complete the budget package that addresses the states $24 billion budget deficit through June 30, The Chabot-Las Positas Community College District s adoption budget is based on this latest budget package. 3

5 Below is a summary of the July 28, 2009 budget package as it relates to the California Community Colleges and the Chabot-Las Positas Community College District. For California Community Colleges: Student fees increased from $20 to $26 per credit until effective fall 2009 An estimated allocation of $130 million in federal funds provided through State Stabilization provisions of American Recovery and Reinvestment Act (ARRA) Elimination of all growth funds No COLA $333 million in cuts to categorical programs-one time backfill is provided using federal ARRA funds $120 million reduction to general purpose funds (in lieu of the proposal to reduce funding rates for physical education courses) A budgeted local property tax shortfall of $53 million A budgeted student fee shortfall of $21 million Language authorizing the Chancellor to reduce base workload measures in proportion to cuts in general apportionment funding Language authorizing community college districts to transfer funds out of certain categorical programs and into any other categorical program For Chabot-Las Positas Community College District: For an adjusted reduction of $3.37 million in unrestricted funds For an adjusted reduction of $1.90 million in categorical funds While there is a budget in place, there are potential challenges that could threaten the budget: American Recover and Reinvestment Act (ARRA) State Stabilization Funds: The revised budget package includes $130 million in ARRA funds. However, the actual amount which is determined by a formula is projected by the Systems Office at less than 50%. In addition, it should be kept in mind that ARRA funding is a one-time backfill to the categorical cuts Mid-Year Cuts - Less than projected state revenues and local property taxes will result in mid-year cuts to the budget 4

6 Workload Reductions - Further reductions in apportionment could mean further reductions in district workloads. For most districts it will be too far into the school year to make adjustments to their schedule Besides the Governor s Revised Budget, there are two other significant factors in developing the District s budget, enrollment and employee compensation. District enrollment is projected at 17,719 Full Time Equivalent students (FTES); Chabot College at 10,414 and Las Positas College at 7,305 or a 3.5% increase in actual enrollment from the prior year. It is important to point out that the district has not, to this point, made any workload adjustments. Simply stated, the district is serving more students than what is funded by the state. The other significant factor is employee compensation. Education is a people business and in the Chabot-Las Positas Community College District, 85% of the District s budgeted unrestricted expenditures are for the services of District employees. The above assumptions are then utilized to project the district s revenues and expenditures as follows: REVENUES The three major classifications of revenue by source are State, Local and Federal Revenues. STATE REVENUES The largest source of District revenue is General Apportionment which is calculated based on the SB361 formula using attendance of FTES in credit and noncredit courses. The General Apportionment is funded by a combination of State and Local sources. The Local portion consists of Property Taxes and 98% of Enrollment Fees. The State portion is the difference between the sum of collected property taxes and the 98% of enrollment fees from General Apportionment. The General Apportionment Revenue for the District is $86,389,771. Other State Revenues Other State revenues include estimates for ongoing programs and any programs for which the District/College has received funding notification. These revenue sources include both unrestricted and restricted funds. Examples include Apprenticeship Program, Foster Kinship Childcare Fund, and Disable Students Program and Services (DSPS). LOCAL REVENUE Property taxes and enrollment fees constitute a significant portion of the local revenue. Property Taxes The estimated property taxes for are based on estimates. Property taxes are one of the components that are deducted from the General Apportionment Revenues to determine State Apportionment Revenues. As a result any increase in property tax receipts would be offset by decrease in the State Apportionment revenue. Conversely, a shortfall in receipts is generally offset by increase in State Apportionment revenue. 5

7 Enrollment Fees The State Budget Act increased enrollment fees to $26 per unit. 98% of enrollment fees are one of the components that are deducted from the General Apportionment Revenues to determine State Apportionment Revenues. Other Local Revenues Estimates for other local revenue are based on historical trends or projected activity. These revenue sources include both unrestricted and restricted funds. Examples include Facility Use Fees, Contract Education Programs, and Alameda County Every Child Counts. FEDERAL REVENUE Federal revenues include estimates for ongoing programs and any programs for which the District/College has received funding notification. These revenue sources include both unrestricted and restricted funds. Examples include Tri-Valley One Stop Career Center, Trio Aspire Fund, and Vocational Training Education Act Fund (VTEA). EXPENDITURES The expenditure budget is the financial operating plan for the District. There are two major classifications of expenditures, unrestricted expenditures and restricted expenditures. Unrestricted expenditures are associated with the district s general operations. Restricted expenditures are associated with revenues that are required to be spent for specific purposes. Within each major classification, the expenditures are categorized by the following: Academic Salaries, Classified Salaries, Benefits, Supplies, Other Operating Expenses and Services, Capital Outlay, Transfers and Other Outgoing Academic Salaries - This object is used to record all expenditures for salaries of employees in academic positions that require minimum qualifications established by the Board of Trustees pursuant to Education Code Section Classified Salaries - Expenditures for the full and prorated portions of salaries of employees in contract or regular non instructional academic positions are recorded here. Benefits This object is used to record all expenditures for the employer s share of contributions to retirement plans, as well as the costs of health and welfare benefits for current and retired employees and their dependents. These benefits include: State Teachers Retirement System (STRS), Public Employees Retirement System (PERS) Fund, Social Security and Medicare, Health and Welfare Benefits, State Unemployment Insurance, Workers Compensation Insurance, Local/Alternative Retirement Systems and Other Benefits. Supplies - The object code for supplies is used to record all expenditures for instructional and non instructional supplies and materials, including costs of freight, sales/use tax and handling charges. Also included are supplies and material used in the care and upkeep of equipment, buildings and ground and other like items. 6

8 Other Operating Expenses and Services - This object is used to record all expenditures for services, leases, rents, travel and other operating expenses. This object also includes expenses for the annual audit, contract services, dues and membership, election, insurance, legal, and consultant services, travel and conference, utilities and housekeeping services. Capital Outlay - This object is used to record all Capital Outlay expenditures. Included are amounts paid for the acquisition of fixed assets or additions to fixed asset; land or existing building; improvement of grounds; building construction, remodeling, or additions; and equipment. Transfers and Other Outgoing - This object is used to record other expenses and nonexpenditure disbursements. These include: debt retirement (long term debt), intra-fund transfers out, inter-fund transfers-out, other transfers, student financial aid, other student aid and reserve for contingencies. The other significant factor is enrollment. As shown on the following chart, the district continues to grow. It should be noted that the state budget package includes language that authorizes the State Chancellor to adjust district s base workload measures commensurate with reductions in general apportionment. 7

9 Chabot-Las Positas Community College District Full Time Equivalent Student (FTES) Enrollments YEAR CHABOT % LPC % % Growth Growth TOTAL Growth , % 4, % 14, % , % 5, % 16, % , % 6, % 17, % , % 5, % 16, % , % 5, % 16, % , % 6, % 16, % , % 6, % 16, % Adjusted 10, % 7, % 17, % , % 7, % 17, % Adjusted 10, % 7, % 17, % , % 6, % 17, % , % 7, % 17, % Notes: Stability Funding to 17, Restoration Funding to 17,501 8

10 Chabot-Las Positas Community College District Board of Trustees Priorities The Chabot-Las Positas Community College District s Board of Trustees will work as an ethical and cohesive team in supporting the Chancellor s maintenance of a fiscally sound and creative learning environment for students and a productive and rewarding environment for staff. The Board joins with the Chancellor in judging their effectiveness by: 1. Requiring regular and accurate fiscal reports that include all major expenditures which affect the economic health of the colleges and the District; 2. Adhering to Board Policies that require regular, timely and consistent evaluations in order to improve staff and student performance; 3. Requiring all Board reports to be well documented, timely, and thoughtfully prepared with all appropriate and accurate legal information so that the Board Members will have a solid basis upon which to make fair decisions; 4. Operating in an open, honest, and ethical decision-making process; 5. Maintaining open communication channels with the local communities through the formation of working partnerships with business, industry, education, and government; 6. Keeping informed on appropriate State and Federal policies affecting community colleges. 9

11 Major Revenue Assumptions Apportionment revenue is based on the Second Principal Apportionment and the Budget Act. For the State General Apportionment is based on the following assumptions: General Apportionment Revenue: Base apportionment $86,389, COLA, 0.0% Growth, 0.0% 0 TOTAL $86,389,771 Sources: Property Taxes $23,583,632 Enrollment Fees 6,457,357 State General Apportionment (Total Apportionment Property Taxes - 56,348,782 98% Enrollment Fees) TOTAL $86,389,771 Other Revenue: Lottery revenue per FTES is estimated at $125 per FTES Interest revenue is projected at $310,000 Enrollment fees will be $26 per unit Non-resident tuition revenue is estimated to be $1,496,720 10

12 Major Expenditure Assumptions The expenditures are based on serving 17,719 FTES with the necessary faculty and support staff. In addition, it accounts for anticipated inflationary increase in expenses such as utilities and property and liability insurance. Salaries and Benefits Percentage Cost of living adjustment 0.00% Statutory benefits are budgeted as follows: State Teachers Retirement System 8.25% Public Employees Retirement System 9.70% OASDHI (Social Security) 6.20% Medicare 1.45% State Unemployment Insurance 0.30% Workers Compensation 1.22% STRS Cash Balance Plan (Hourly Academic) 4.00% Alternate Retirement System (Hourly Non Academic) 3.75% Step/column and longevity increases are including in the compensation expenditures. Health and Welfare benefits (medical, dental, life insurance, vision) are budgeted at an average cost per employee. Medical premiums cost have increased on average by 10.8% over Retiree Health Benefits budget of $3,986,374 Budget Reductions Unrestricted Restricted Chabot College $1,914,043 $1,030,945 Las Positas College $1,094,043 $ 614,757 District Office and M&O $1,356,131 $ 251,897 Detailed expenditure reductions for each site are presented in Exhibit A. 11

13 District Medical and Dental Premium Rates Plan Employee Only Employee + 1 Family Kaiser , Blue Cross HMO , , Blue Cross PPO , , Delta Dental Vision Service Plan Anthem Blue Cross Life and AD&D Approximate N/A N/A Cost to Employee Employee Only Employee + 1 Family Kaiser Blue Cross HMO Blue Cross PPO , Adjunct Faculty Kaiser Rates Cost to Employee Plan Employee Only Employee + 1 Family Kaiser

14 General Fund Source of Funds The District derives revenue from a number of sources as shown below. The major sources of revenue are: General Apportionment (State General Fund, Property Taxes, Equalization, and $86,389,771 Enrollment Fees) Federal Revenue 2,123,379 Other State Revenue 9,581,007 Lottery 2,140,375 Local Revenue 15,088,119 Total Before State Reductions $115,322,651 8% 2% 13% 2% General Apportionment Federal Revenue Other State Revenue Lottery Local Revenue 75% The single largest source of income is General Apportionment, which is made up of Property Tax, Enrollment Fees, and State General Fund. 13

15 Use of Funds Academic Salaries $45,414,153 Classified Salaries 27,174,998 Benefits 23,652,903 Supplies 4,067,184 Other Operating Expenses and Services 17,165,759 Capital Outlay 481,690 Transfers and Other Outgo 1,685,188 Total Before State Reductions $119,641,875 Academic Salaries 15% 0% 1% Classified Salaries 3% 38% Benefits 20% Supplies Other Operating Expenses and Services Capital Outlay 23% Transfers and Other Outgo 14

16 District Revenue By Object The following is a summary of income by account within each major category: Proposed Budget APPORTIONMENT 8611 State General $56,348, Property Taxes 23,583, Enrollment Fees 6,457,357 TOTAL APPORTIONMENT REVENUES $86,389,771 Federal Revenues 8100 Federal Revenues 2,123,379 TOTAL FEDERAL REVENUES $2,123,379 Other State Revenues 8612 Apprenticeship Allowance 681, EOPS 853, D.S.P. & S. 1,411, CALWORKS 454, TTIP 57, CARE 128, BFAP 553, Matriculation (Credit) 841, Instructional Equipment Grant Instructional Block Grant Economic and Workforce Development 331, Part Time Faculty 514, Lottery Revenues 2,140, Other State Revenues 3,754,062 TOTAL STATE REVENUES $11,721,382 Other Local Revenues 8830 Contract Services 5,787, Facility Use Fees 440, Interest on Deposit 310, Other Student Fees 1,652, Non Resident Tuition 1,496, Parking Fees 1,007, Other Local Revenue 4,392,596 TOTAL OTHER LOCAL REVENUES $15,073,119 Other Financing Sources 8900 Other Financing Sources 15,000 TOTAL OTHER FINANCING SOURCES $15,000 TOTAL REVENUES $115,322,651 STATE BUDGET REDUCTION ($5,267,599) 15

17 District Expenditure By Object The following is a summary of expenditures by account within each major category: Proposed Budget ACADEMIC SALARIES 1100 Teachers - Contract $22,983, Non Teachers - Contract 7,924, Teachers - Non Contract 13,700, Non Teachers - Non Contract 805,600 TOTAL ACADEMIC SALARIES $45,414,153 CLASSIFIED SALARIES 2100 Classified Regular 23,447, Instructional Assistants - Regular 1,295, Classified - Hourly 2,214, Instructional Assistants - Hourly 217,371 TOTAL CLASSIFIED SALARIES $27,174,998 BENEFITS 3100 STRS 2,553, PERS 2,317, Social Security & Medicare 2,270, Health & Welfare Benefits 13,987, State Unemployment Insurance 16, Workers Compensation Insurance 623, Alternate Retirement System 17, Consolidated Benefits 1,808, Other Benefits (Executive Allowances) 57,975 TOTAL BENEFITS $23,652,903 SUPPLIES 4000 Supplies 4,067,184 TOTAL SUPPLIES $4,067,184 16

18 District Expenditure By Object Proposed Budget OTHER OPERATING EXPENSES & SERVICES 5000 Other Operating Expenses $9,739, Personal Services 332, Travel & Conference Expenses 113, Dues & Memberships 57, Insurance 644, Utilities & Housekeeping 2,449, Rents, Leases & Repairs 908, Other Services & Expenses 2,920,750 TOTAL OTHER OPERATING EXPENSES & SERVICES $17,165,759 CAPITAL OUTLAY 6000 Capital Expenses 148, Site Improvement 20, Building 20, Library Books 5, Equipment/Furniture/Fixtures 288,027 TOTAL CAPITAL OUTLAY $481,690 TRANSFERS AND OTHER OUTGO 7300 Interfund Transfers 1,255, Student Financial Aid 300, Other Payments to/for Students 130,000 TOTAL TRANSFERS & OTHER OUTGO $1,685,188 TOTAL EXPENDITURES $119,641,875 STATE BUDGET REDUCTION ($6,261,816) FUND BALANCE General Reserve for Economic Uncertainties $4,991,192 Other Reserves: Sabbatical; Legal; Energy; Adjunct, RDA 683,626 Restoration Apportionment Reserve 1,568,565 Restricted Accounts Ending Balance 3,512,442 Site/Undesignated Ending Balance 388,732 17

19 CHABOT-LAS POSITAS COMMUNITY COLLEGE DISTRICT ADOPTION BUDGET District General Fund General Fund - Total Unaudited Actual Tentative Budget Adoption Budget Estimated Revenues State Revenues General Apportionment $ 55,619,332 $ 57,984,051 $ 56,348,782 Other 13,741,935 10,923,500 11,721,382 Local Revenues Property Taxes 24,245,219 23,971,277 23,583,632 Enrollment Fees 5,359,334 5,452,138 6,457,357 Other 15,480,885 12,748,191 15,088,119 Federal Revenues 1,883,144 2,129,304 2,123,379 Total Estimated Revenues $ 116,329,848 $ 113,208,461 $ 115,322,651 Total Intrafund Transfers In $ 875,982 $ 789,891 $ 1,155,244 Total Estimated Revenues, Transfers $ 117,205,830 $ 113,998,352 $ 116,477,895 State Budget Reductions $ - $ (7,381,786) $ (5,267,599) Total Adjusted Revenue $ 117,205,830 $ 106,616,566 $ 111,210,296 Expenditures Academic Salaries $ 46,712,476 $ 45,491,653 $ 45,414,153 Classified Salaries 26,634,551 26,621,872 27,174,998 Benefits 18,876,652 19,106,037 19,666,529 RUMBL Benefits 3,471,172 3,986,374 3,986,374 Supplies/Services/Capital Outlay 2,727,225 10,244,441 4,067,184 Services 12,724,343 8,641,523 17,165,759 Capital Outlay 1,151, , ,690 Other Outgo/Interfund Transfers 1,218,967 1,006, ,000 Interfund Transfers 4,690, ,000 1,255,188 Total Expenditures $ 118,208,324 $ 115,850,614 $ 119,641,875 Total Intrafund Transfers Out $ 998,382 $ 789,891 $ 1,305,244 Total Expenditures & Transfers $ 119,206,706 $ 116,640,505 $ 120,947,119 State Budget Reductions $ - $ (7,381,787) $ (6,261,816) Total Adjusted Expenditures $ 119,206,706 $ 109,258,718 $ 114,685,303 Increase/(Decrease) in Fund Balance $ (2,000,875) $ (2,642,153) $ (3,475,007) Beginning Balance $ 16,620,440 $ 11,543,994 $ 14,619,565 Ending Balance $ 14,619,565 $ 8,901,841 $ 11,144,557 Components of Ending Balance General Reserve for Economic Uncertainties $ 5,183,632 $ 4,991,192 Other Reserves: Sabbatical; Legal; Energy; Adjunct; RDA $ 1,267,768 $ 683,626 Restoration Apportionment Reserve $ - $ 1,568,565 Restricted Accounts Ending Balance $ 2,450,440 $ 3,512,443 Site/Undesignated Ending Balance $ 0 $ 388,732 18

20 CHABOT-LAS POSITAS COMMUNITY COLLEGE DISTRICT ADOPTION BUDGET General Fund District Total - Unrestricted Unaudited Actual Tentative Budget Adoption Budget Estimated Revenues State Revenues General Apportionment $ 55,619,332 $ 57,984,051 $ 56,348,782 Prior Year Adjustment, Recalculation - Deficit Factor Adjustment - Other 4,087,391 3,635,834 3,143,042 Local Revenues - Property Taxes 24,245,219 23,971,277 23,583,632 Enrollment Fees 5,359,334 5,452,138 6,457,357 Other 10,894,495 9,985,993 10,334,821 Federal Revenues 1,274 1,200 1,200 Total Estimated Revenues $ 100,207,045 $ 101,030,493 $ 99,868,834 Intrafund Transfers In Admin & Fiscal/Athletic Ins/Sab Leave $ 788,087 $ 789,891 $ 1,155,244 Revenue Allocations Other Total Intrafund Transfers In $ 788,087 $ 789,891 $ 1,155,244 Total Estimated Revenues, Transfers $ 100,995,132 $ 101,820,384 $ 101,024,078 State Budget Reductions $ - $ (4,230,000) $ (3,370,000) Total Adjusted Revenue $ 100,995,132 $ 97,590,385 $ 97,654,078 Expenditures Academic Salaries $ 44,782,300 $ 43,973,637 $ 43,770,971 Classified Salaries 21,495,431 21,980,162 22,533,287 Benefits 17,384,977 17,420,898 17,981,390 RUMBL Benefits 3,471,172 3,986,374 3,986,374 Supplies 1,748,093 8,673,352 2,448,468 Services 10,667,404 6,651,749 11,886,632 Capital Outlay 378, , ,748 Other Outgo 666, ,048 - Interfund Transfers 2,027, ,000 1,255,188 Total Expenditures $ 102,621,830 $ 103,672,646 $ 104,188,058 Intrafund Transfers Out Admin & Fiscal/Athletic Ins/Sab Leave $ 910,487 $ 789,891 $ 1,305,244 Other 87, Total Intrafund Transfers Out $ 998,382 $ 789,891 $ 1,305,244 Total Expenditures & Transfers $ 103,620,212 $ 104,462,537 $ 105,493,302 State Budget Reductions $ - $ (4,230,000) $ (4,364,217) Total Adjusted Expenditures $ 103,620,212 $ 100,232,537 $ 101,129,085 Increase/(Decrease) in Fund Balance $ (2,625,080) $ (2,642,152) $ (3,475,007) Beginning Balance $ 13,732,201 $ 9,093,554 $ 11,107,122 Ending Balance $ 11,107,122 $ 6,451,401 $ 7,632,115 19

21 CHABOT-LAS POSITAS COMMUNITY COLLEGE DISTRICT ADOPTION BUDGET General Fund District Total - Restricted Unaudited Actual Tentative Budget Adoption Budget Estimated Revenues State Revenues General Apportionment $ - $ - Other 9,654,544 7,287,666 8,578,340 Local Revenues Property Taxes Enrollment Fees Other 4,586,390 2,762,198 4,753,298 Federal Revenues 1,881,870 2,128,104 2,122,179 Total Estimated Revenues $ 16,122,803 $ 12,177,968 $ 15,453,817 Intrafund Transfers In Admin & Fiscal/Athletic Ins/Sab Leave $ - $ - $ - Revenue Allocations Other 87, Total Intrafund Transfers In $ 87,895 $ - $ - Total Estimated Revenues, Transfers $ 16,210,698 $ 12,177,968 $ 15,453,817 State Budget Reductions $ - $ (3,151,787) $ (1,897,599) Total Adjusted Revenue $ 16,210,698 $ 9,026,181 $ 13,556,218 Expenditures Academic Salaries $ 1,930,175 $ 1,518,016 $ 1,643,182 Classified Salaries 5,139,120 4,641,710 4,641,711 Benefits 1,491,675 1,685,140 1,685,139 Supplies 979,132 1,571,089 1,618,716 Services 2,056,939 1,989,774 5,279,127 Capital Outlay 773, , ,942 Other Outgo 552, , ,000 Interfund Transfers (included in above) 2,663, Total Expenditures $ 15,586,494 $ 12,177,968 $ 15,453,818 Intrafund Transfers Out Admin & Fiscal/Athletic Ins/Sab Leave $ - $ - $ - Other Total Intrafund Transfers Out $ - $ - $ - Total Expenditures & Transfers $ 15,586,494 $ 12,177,968 $ 15,453,818 State Budget Reductions $ - $ (3,151,787) $ (1,897,599) Total Adjusted Expenditures $ 15,586,494 $ 9,026,181 $ 13,556,219 Increase/(Decrease) in Fund Balance $ 624,204 $ (0) $ (0) Beginning Balance $ 2,888,239 $ 2,450,440 $ 3,512,443 Ending Balance $ 3,512,443 $ 2,450,440 $ 3,512,443 20

22 CHABOT COLLEGE Hesperian Boulevard Hayward, California (510)

23 Chabot College Vision, Mission, and Value Statements Approved May 26, 2004 by Institutional Planning and Budget Council (IPBC) Adopted July 1, 2004 by College Council Vision Chabot College is a learning-centered institution with a culture of thoughtfulness and academic excellence, committed to creating a vibrant community of life-iong learners. Mission Chabot College is a public comprehensive community college that prepares students to succeed in their education, progress in the workplace, and engage in the civic and cultural life of the global community. The college furthers student learning and responds to the educational needs of our local population and economy. The college serves as an educational leader, contributing its resources to the intellectual, cultural, physical, and economic vitality of the region. Recognizing that learning is a life-long journey, the college provides opportunities for the intellectual enrichment and physical well-being of all community members who can benefit. Values The college's vision and mission are supported by the following collective values: LEARNING AND TEACHING supporting a variety of teaching philosophies and learning modalities providing an environment conducive to intellectual curiosity and innovation encouraging collaboration that fosters learning engaging in ongoing reflection on learning, by students and by staff cultivating critical thinking in various contexts supporting the development of the whole person COMMUNITY AND DIVERSITY building a safe and supportive campus community treating one another with respect, dignity, and integrity practicing our work in an ethical and reflective manner honoring and respecting cultural diversity encouraging diversity in our curriculum and community of learners INDIVIDUAL AND COLLECTIVE RESPONSIBILITY taking individual responsibility for our own learning cultivating a sense of social and individual responsibility developing reflective, responsible and compassionate citizens playing a leadership role in the larger community embracing thoughtful change and innovation 22

24 CHABOT-LAS POSITAS COMMUNITY COLLEGE DISTRICT ADOPTION BUDGET Chabot College General Fund Chabot College - Total Unaudited Actual Tentative Budget Adoption Budget Estimated Revenues State Revenues General Apportionment $ - - $ - Other 6,659,970 4,660,968 5,257,793 Local Revenues Property Taxes Enrollment Fees Other 5,458,496 3,528,735 4,113,963 Federal Revenues 1,213,155 1,412,349 1,411,358 Total Estimated Revenues $ 13,331,621 $ 9,602,052 $ 10,783,114 Intrafund Transfers In Admin & Fiscal/Athletic Ins/Sab Leave $ 338,002 $ 210,000 $ 471,342 Revenue Allocations 41,694,482 42,387,546 41,745,578 Other 87, , ,648 Total Intrafund Transfers In $ 42,120,379 $ 42,766,059 $ 42,693,568 Total Estimated Revenues, Transfers $ 55,452,000 $ 52,368,111 $ 53,476,682 State Budget Reductions $ - $ (3,937,081) $ (2,630,849) Total Adjusted Revenue $ 55,452,000 $ 48,431,029 $ 50,845,833 Expenditures Academic Salaries $ 28,858,083 $ 27,611,756 $ 27,563,415 Classified Salaries 9,522,437 8,535,748 9,222,532 Benefits 8,996,513 9,216,557 9,566,813 Supplies 1,148,332 1,339, ,703 Services 2,797,026 5,082,827 5,451,987 Capital Outlay 515, , ,942 Other Outgo 317, , ,000 Interfund Transfers 1,218, , ,000 Transfers to Restricted Total Expenditures $ 53,373,911 $ 52,621,365 $ 53,623,392 Intrafund Transfers Out Admin & Fiscal/Athletic Ins/Sab Leave $ 53,719 $ 223,394 $ 68,625 Other 87, Total Intrafund Transfers Out $ 141,614 $ 223,394 $ 68,625 Total Expenditures & Transfers $ 53,515,525 $ 52,844,759 $ 53,692,017 State Budget Reductions $ - $ (3,937,081) $ (2,944,988) Total Adjusted Expenditures $ 53,515,525 $ 48,907,678 $ 50,747,029 Increase/(Decrease) in Fund Balance $ 1,936,475 $ (476,648) $ 98,804 Beginning Balance $ 541,826 $ 765,780 $ 2,478,301 Ending Balance $ 2,478,301 $ 289,131 $ 2,577,105 23

25 CHABOT-LAS POSITAS COMMUNITY COLLEGE DISTRICT ADOPTION BUDGET General Fund Chabot College - Unrestricted Unaudited Actual Tentative Budget Adoption Budget Estimated Revenues State Revenues General Apportionment $ - $ - $ - Other 612, , ,478 Local Revenues Property Taxes Enrollment Fees Other 2,588,543 2,209,535 2,306,535 Federal Revenues 1,274 1,200 1,200 Total Estimated Revenues $ 3,202,506 $ 2,844,262 $ 2,869,213 Intrafund Transfers In Admin & Fiscal/Athletic Ins/Sab Leave $ 338,002 $ 210,000 $ 471,342 Revenue Allocations 41,495,714 42,184,478 41,598,342 Other - 168, ,648 Total Intrafund Transfers In $ 41,833,716 $ 42,562,991 $ 42,546,332 Total Estimated Revenues, Transfers $ 45,036,222 $ 45,407,253 $ 45,415,545 State Budget Reductions $ - $ (2,008,188) $ (1,599,904) Total Adjusted Revenue $ 45,036,222 $ 43,399,065 $ 43,815,641 Expenditures Academic Salaries $ 27,723,405 $ 26,704,111 $ 26,530,604 Classified Salaries 6,678,025 6,110,373 6,797,157 Benefits 8,207,154 8,294,101 8,644,357 Supplies 526, , ,000 Services 1,630,132 3,271,922 2,610,137 Capital Outlay 4,468 20,000 20,000 Other Outgo Interfund Transfers 968, , ,000 Transfers to Restricted Total Expenditures $ 45,737,746 $ 45,660,507 $ 45,562,255 Intrafund Transfers Out Admin & Fiscal/Athletic Ins/Sab Leave $ 53,719 $ 223,394 $ 68,625 Other 87, Total Intrafund Transfers Out $ 141,614 $ 223,394 $ 68,625 Total Expenditures & Transfers $ 45,879,360 $ 45,883,901 $ 45,630,880 State Budget Reductions $ - $ (2,008,188) $ (1,914,043) Total Adjusted Expenditures $ 45,879,360 $ 43,875,713 $ 43,716,837 Increase/(Decrease) in Fund Balance $ (843,138) $ (476,648) $ 98,804 Beginning Balance $ - $ (1,096,027) $ (843,138) Ending Balance $ (843,138) $ (1,572,675) $ (744,334) 24

26 CHABOT-LAS POSITAS COMMUNITY COLLEGE DISTRICT ADOPTION BUDGET General Fund Chabot College - Restricted Unaudited Actual Tentative Budget Adoption Budget Estimated Revenues State Revenues General Apportionment $ - $ - $ - Other 6,047,282 4,027,441 4,696,315 Local Revenues Property Taxes Enrollment Fees Other 2,869,953 1,319,200 1,807,428 Federal Revenues 1,211,881 1,411,149 1,410,158 Total Estimated Revenues $ 10,129,116 $ 6,757,790 $ 7,913,901 Intrafund Transfers In Admin & Fiscal/Athletic Ins/Sab Leave $ - $ - $ - Revenue Allocations 198, , ,236 Other 87, Total Intrafund Transfers In $ 286,663 $ 203,068 $ 147,236 Total Estimated Revenues, Transfers $ 10,415,779 $ 6,960,858 $ 8,061,137 State Budget Reductions $ - $ (1,928,893) $ (1,030,945) Total Adjusted Revenue $ 10,415,779 $ 5,031,964 $ 7,030,192 Expenditures Academic Salaries $ 1,134,678 $ 907,645 $ 1,032,811 Classified Salaries 2,844,412 2,425,375 2,425,375 Benefits 789, , ,456 Supplies 621, , ,703 Services 1,166,894 1,810,905 2,841,850 Capital Outlay 511, , ,942 Other Outgo 317, , ,000 Interfund Transfers 249, Transfers to Restricted Total Expenditures $ 7,636,165 $ 6,960,858 $ 8,061,137 Intrafund Transfers Out Admin & Fiscal/Athletic Ins/Sab Leave $ - $ - $ - Other Total Intrafund Transfers Out $ - $ - $ - Total Expenditures & Transfers $ 7,636,165 $ 6,960,858 $ 8,061,137 State Budget Reductions $ - $ (1,928,893) $ (1,030,945) Total Adjusted Expenditures $ 7,636,165 $ 5,031,965 $ 7,030,192 Increase/(Decrease) in Fund Balance $ 2,779,614 $ (0) $ (0) Beginning Balance $ 541,826 $ 1,861,806 $ 3,321,440 Ending Balance $ 3,321,440 $ 1,861,806 $ 3,321,440 25

27 LAS POSITAS COLLEGE 3033 Collier Canyon Road Livermore, California (925)

28 Las Positas College Vision, Mission, and Value Statements Mission Las Positas College is an inclusive, learning-centered institution providing educational opportunities that meet the academic, intellectual, career-technical, creative, and personal development goals of its diverse students. Students develop the knowledge, skills, values, and abilities to become engaged and contributing members of the community. Vision Las Positas College meets our students and community where they are and creates experiences for them that build their capacity, speak to their potential, and transform their lives. Values 1. Provide excellence in teaching, student learning, services to students, and scholarship by providing state of the art learning facilities, equipment, supplies and resources, and staffing. (Teaching and Learning) 2. Increase recognition of Las Positas College as a premier institution of innovative higher education that prepares talented, competent, and engaged members of the community. (Institutional Advancement) 3. Ensure the highest level of service to students and the community through continuous and purposeful evaluation of programs and services that situates student learning, community responsiveness, and employee engagement as the center of all we do. (Accountability) 4. Offer cutting edge educational opportunities designed to accelerate the economic development of the Tri-Valley region. (Economic Development) 5. Provide excellence in the stewardship of the community s investment in Las Positas College and expand the institution s capacity to apply resources to meet the needs of students, staff, and faculty through strategic assessment and resource allocation. (Resource Development and Allocation) 6. Commit to excellence in teaching, student learning, and scholarship by expanding professional development for all employees and nurturing the intellectualism within the campus culture. (Academic and Professional Excellence) 7. Serve a diverse college community by maintaining and expanding an environment of accessibility, equality, and social justice. (Diversity and Pluralism) 8. Craft a culture of collective responsibility through an enhancement of College processes and systems, reinforcing internal communication, integrating internal planning processes that promote coordination and accountability, and strengthening a sense of community and collaboration internally and within the District. (Communication and Infrastructure) 9. Serve as a catalyst for enhanced community life through outreach, partnerships, services, and significant contributions to quality arts, cultural, wellness and vitality experiences and activities in the Tri-Valley. (Community Life) 10. Engage in sustainable stewardship and community leadership as an institution through our use of products and technology, our practices and curriculum, our policies, and our philosophy as represented through institutional culture and leadership. (Sustainability) 27

29 CHABOT-LAS POSITAS COMMUNITY COLLEGE DISTRICT ADOPTION BUDGET Las Positas College General Fund Las Positas College - Total Unaudited Actual Tentative Budget Adoption Budget Estimated Revenues State Revenues General Apportionment $ - $ - $ - Other 3,121,428 2,815,450 2,908,878 Local Revenues Property Taxes Enrollment Fees Local Revenues 2,490,784-1,607,435-1,791,143 - Federal Revenues 669, , ,021 Total Estimated Revenues $ 6,282,201 $ 5,139,840 $ 5,412,042 Intrafund Transfers In Admin & Fiscal/Athletic Ins/Sab Leave $ 340,403 $ 210,000 $ 552,171 Revenue Allocations 26,737,837 26,705,898 26,317,113 Other - 91, ,248 Total Intrafund Transfers In $ 27,078,240 $ 27,007,594 $ 27,171,532 Total Estimated Revenues, Transfers $ 33,360,441 $ 32,147,434 $ 32,583,574 State Budget Reductions $ - $ (2,496,309) $ (1,629,275) Total Adjusted Revenue $ 33,360,441 $ 29,651,125 $ 30,954,299 Expenditures Academic Salaries $ 17,553,062 $ 17,111,896 $ 17,082,737 Classified Salaries 6,497,154 6,548,614 6,529,495 Benefits 5,594,842 5,360,337 5,447,393 Supplies 704,241 2,025,218 1,988,937 Services 1,523,396 1,063,192 1,250,298 Capital Outlay 267,573 83,927 83,927 Other Outgo 255, , ,000 Interfund Transfers 217, Transfers to Restricted Total Expenditures $ 32,612,541 $ 32,323,185 $ 32,512,788 Intrafund Transfers Out Admin & Fiscal/Athletic Ins/Sab Leave $ 35,963 $ 126,497 $ 43,106 Other Total Intrafund Transfers Out $ 35,963 $ 126,497 $ 43,106 Total Expenditures & Transfers $ 32,648,504 $ 32,449,682 $ 32,555,894 State Budget Reductions $ - $ (2,496,309) $ (1,708,800) Total Adjusted Expenditures $ 32,648,504 $ 29,953,372 $ 30,847,094 Increase/(Decrease) in Fund Balance $ 711,937 $ (302,248) $ 107,205 Beginning Balance $ 42,625 $ (135,629) $ 754,562 Ending Balance $ 754,562 $ (437,876) $ 861,767 28

30 CHABOT-LAS POSITAS COMMUNITY COLLEGE DISTRICT ADOPTION BUDGET General Fund Las Positas College - Unrestricted Unaudited Actual Tentative Budget Adoption Budget Estimated Revenues State Revenues General Apportionment $ - $ - $ - Other 181, , ,515 Local Revenues Property Taxes Enrollment Fees Local Revenues 1,589,778 1,172,435 1,354,143 Federal Revenues Total Estimated Revenues $ 1,770,870 $ 1,467,562 $ 1,552,658 Intrafund Transfers In Admin & Fiscal/Athletic Ins/Sab Leave $ 340,403 $ 210,000 $ 552,171 Revenue Allocations 26,604,770 26,577,131 26,224,627 Other - 91, ,248 Total Intrafund Transfers In $ 26,945,173 $ 26,878,827 $ 27,079,046 Total Estimated Revenues, Transfers $ 28,716,043 $ 28,346,389 $ 28,631,704 State Budget Reductions $ - $ (1,273,416) $ (1,014,518) Total Adjusted Revenue $ 28,716,043 $ 27,072,973 $ 27,617,186 Expenditures Academic Salaries $ 16,757,565 $ 16,501,526 $ 16,472,366 Classified Salaries 4,971,224 5,072,751 5,053,632 Benefits 5,133,208 4,903,078 $ 4,990,135 Supplies 423, , ,666 Services 870,957 1,063,192 1,063,192 Capital Outlay 86,276 83,927 83,927 Other Outgo 123, Interfund Transfers Transfers to Restricted Total Expenditures $ 28,366,748 $ 28,522,140 $ 28,560,917 Intrafund Transfers Out Admin & Fiscal/Athletic Ins/Sab Leave $ 35,963 $ 126,497 $ 43,106 Other Total Intrafund Transfers Out $ 35,963 $ 126,497 $ 43,106 Total Expenditures & Transfers $ 28,402,711 $ 28,648,637 $ 28,604,023 State Budget Reductions $ - $ (1,273,416) $ (1,094,043) Total Adjusted Expenditures $ 28,402,711 $ 27,375,221 $ 27,509,980 Increase/(Decrease) in Fund Balance $ 313,332 $ (302,248) $ 107,206 Beginning Balance $ - $ (377,949) $ 313,332 Ending Balance $ 313,332 $ (680,197) $ 420,538 29

31 CHABOT-LAS POSITAS COMMUNITY COLLEGE DISTRICT ADOPTION BUDGET General Fund Las Positas College - Restricted Unaudited Actual Tentative Budget Adoption Budget Estimated Revenues State Revenues General Apportionment $ - $ - $ - Other 2,940,336 2,520,323 2,710,363 Local Revenues Property Taxes Enrollment Fees Other 901, , ,000 Federal Revenues 669, , ,021 Total Estimated Revenues $ 4,511,331 $ 3,672,278 $ 3,859,384 Intrafund Transfers In Admin & Fiscal/Athletic Ins/Sab Leave $ - $ - $ - Revenue Allocations 133, ,767 92,486 Other Total Intrafund Transfers In $ 133,067 $ 128,767 $ 92,486 Total Estimated Revenues, Transfers $ 4,644,398 $ 3,801,045 $ 3,951,870 State Budget Reductions $ - $ (1,222,893) $ (614,757) Total Adjusted Revenue $ 4,644,398 $ 2,578,152 $ 3,337,113 Expenditures Academic Salaries $ 795,497 $ 610,371 $ 610,371 Classified Salaries 1,525,930 1,475,863 1,475,864 Benefits 461, , ,259 Supplies 280,536 1,127,552 1,091,271 Services 652, ,106 Capital Outlay 181,297 Other Outgo 131, , ,000 Interfund Transfers 217, Transfers to Restricted Total Expenditures $ 4,245,793 $ 3,801,045 $ 3,951,870 Total Intrafund Transfers Out $ - $ - $ - Total Expenditures & Transfers $ 4,245,793 $ 3,801,045 $ 3,951,870 State Budget Reductions $ - $ (1,222,893) $ (614,757) Total Adjusted Expenditures $ 4,245,793 $ 2,578,151 $ 3,337,113 Increase/(Decrease) in Fund Balance $ 398,605 $ 0 $ (0) Beginning Balance $ 42,625 $ 242,320 $ 441,230 Ending Balance $ 441,230 $ 242,320 $ 441,229 30

32 DISTRICT SERVICES MAINTENANCE & OPERATIONS CONTRACT EDUCATION/ ECONOMIC DEVELOPMENT 5020 Franklin Drive Pleasanton, CA (925)

33 CHABOT-LAS POSITAS COMMUNITY COLLEGE DISTRICT ADOPTION BUDGET District Operations General Fund Dist Svces/Maintenance & Operations - Total Unaudited Actual Tentative Budget Adoption Budget Estimated Revenues State Revenues General Apportionment $ - $ - $ - Other 582,567 1,007,981 1,367,940 Local Revenues Property Taxes Enrollment Fees Other 7,228,962 7,312,021 8,883,013 Federal Revenues Total Estimated Revenues $ 7,811,529 $ 8,320,002 $ 10,250,953 Intrafund Transfers In Admin & Fiscal/Athletic Ins/Sab Leave $ 109,682 $ 109,682 $ 131,731 Revenue Allocations 16,452,852 15,615,646 15,615,173 Other 1,500,307 1,900,000 2,125,104 Total Intrafund Transfers In $ 18,062,841 $ 17,625,328 $ 17,872,008 Total Estimated Revenues, Transfers $ 25,874,370 $ 25,945,330 $ 28,122,961 State Budget Reductions $ - $ (948,396) $ (1,007,475) Total Adjusted Revenue $ 25,874,370 $ 24,996,934 $ 27,115,486 Expenditures Academic Salaries $ 301,330 $ 438,001 $ 438,001 Classified Salaries 10,614,960 11,537,510 11,422,970 Benefits 4,285,297 4,529,143 4,652,323 Supplies 874,652 6,460,431 1,094,544 Services 8,403,922 2,495,504 10,463,474 Capital Outlay 368, , ,821 Other Outgo - 576,345 - Interfund Transfers 3,255, ,188 Total Expenditures $ 28,104,739 $ 26,170,433 $ 28,684,321 Intrafund Transfers Out Admin & Fiscal/Athletic Ins/Sab Leave $ - $ - $ - Other Total Intrafund Transfers Out $ - $ - $ - Total Expenditures & Transfers $ 28,104,739 $ 26,170,433 $ 28,684,321 State Budget Reductions $ - $ (948,396) $ (1,608,028) Total Adjusted Expenditures $ 28,104,739 $ 25,222,037 $ 27,076,293 Increase/(Decrease) in Fund Balance $ (2,230,369) $ (225,103) $ 39,193 Beginning Balance $ 2,303,788 $ (860,226) $ 73,419 Ending Balance $ 73,419 $ (1,085,329) $ 112,612 32

34 CHABOT-LAS POSITAS COMMUNITY COLLEGE DISTRICT ADOPTION BUDGET General Fund Dist Svces/Mtnce & Operations - Unrestricted Unaudited Actual Tentative Budget Adoption Budget Estimated Revenues State Revenues General Apportionment $ - $ - $ - Other 159, , ,000 Local Revenues Property Taxes Enrollment Fees Other 6,413,531 6,304,023 6,374,143 Federal Revenues Total Estimated Revenues $ 6,573,120 $ 6,903,937 $ 6,810,143 Intrafund Transfers In Admin & Fiscal/Athletic Ins/Sab Leave $ 109,682 $ 109,682 $ 131,731 Revenue Allocations 16,452,852 15,615,646 15,615,173 Other 1,500,307 1,900,000 2,125,104 Total Intrafund Transfers In $ 18,062,841 $ 17,625,328 $ 17,872,008 Total Estimated Revenues, Transfers $ 24,635,961 $ 24,529,265 $ 24,682,151 State Budget Reductions $ - $ (948,396) $ (755,578) Total Adjusted Revenue $ 24,635,961 $ 23,580,869 $ 23,926,573 Expenditures Academic Salaries $ 301,330 $ 438,001 $ 438,001 Classified Salaries 9,846,182 10,797,037 10,682,498 Benefits 4,044,615 4,223,718 4,346,898 Supplies 798,036 6,456, ,802 Services 8,166,315 2,316,635 8,213,303 Capital Outlay 287, , ,821 Other Outgo - 390,048 - Interfund Transfers 1,059, ,188 Transfers to Restricted Total Expenditures $ 24,503,654 $ 24,754,368 $ 25,243,511 Total Intrafund Transfers Out $ - $ - $ - Total Expenditures & Transfers $ 24,503,654 $ 24,754,368 $ 25,243,511 State Budget Reductions $ - $ (948,396) $ (1,356,131) Total Adjusted Expenditures $ 24,503,654 $ 23,805,972 $ 23,887,380 Increase/(Decrease) in Fund Balance $ 132,307 $ (225,103) $ 39,193 Beginning Balance $ 0 $ (372,127) $ 132,307 Ending Balance $ 132,307 $ (597,230) $ 171,500 33

35 CHABOT-LAS POSITAS COMMUNITY COLLEGE DISTRICT ADOPTION BUDGET General Fund Dist Svces/Maintenance & Operations - Restricted Unaudited Actual Tentative Budget Adoption Budget Estimated Revenues State Revenues General Apportionment $ - $ - $ - Other 422, , ,940 Local Revenues Property Taxes Enrollment Fees Other 815,431 1,007,998 2,508,870 Federal Revenues Total Estimated Revenues $ 1,238,409 $ 1,416,065 $ 3,440,810 Intrafund Transfers In Admin & Fiscal/Athletic Ins/Sab Leave Revenue Allocations Other Total Intrafund Transfers In $ - $ - $ - Total Estimated Revenues, Transfers $ 1,238,409 $ 1,416,065 $ 3,440,810 State Budget Reductions $ - $ - $ (251,897) Total Adjusted Revenue $ 1,238,409 $ 1,416,065 $ 3,188,913 Expenditures Academic Salaries $ - $ - $ - Classified Salaries 768, , ,472 Benefits 240, , ,425 Supplies 76,616 4, ,742 Services 237, ,869 2,250,171 Capital Outlay 81,134 1,000 1,000 Other Outgo - 186,297 - Interfund Transfers 2,196, Transfers to Restricted Total Expenditures $ 3,601,085 $ 1,416,065 $ 3,440,810 Total Intrafund Transfers Out $ - $ - $ - Total Expenditures & Transfers $ 3,601,085 $ 1,416,065 $ 3,440,810 State Budget Reductions $ - $ - $ (251,897) Total Adjusted Expenditures $ 3,601,085 $ 1,416,065 $ 3,188,913 Increase/(Decrease) in Fund Balance $ (2,362,676) $ - $ - Beginning Balance $ 2,303,788 $ (488,099) $ (58,888) Ending Balance $ (58,888) $ (488,099) $ (58,888) 34

36 Self Insurance Fund The purpose of the Self Insurance Fund is to account for funds to pay for the cost of the current fiscal year retiree medical benefits, and to set aside funds for the future unfunded retiree medical liability. This fund is also referred to as the Retiree Unfunded Medical Benefit Liability (RUMBL) Fund. The District pays for the cost of medical benefits for qualified retirees. An actuarial study determined that the annual expense for these benefits would eventually rise to a level that could not be supported by the District s normal operating budget. The annual increase in expenses is due to a combination of the increasing number of retirees and the increasing cost of the medical benefits. The transfer amount for has been increased to $3,986,374 to approximate actual annual cost. It should be noted that the District is transferring an additional funds to build up the RUMBL fund. BUDGET ASSUMPTIONS: REVENUES Sources of revenue are interest income and a transfer from the General Fund. EXPENDITURES The expenditures are based on the actual number of retirees and potential increase in medical benefit costs. 35