COMMUNITY COLLEGE OF RHODE ISLAND FY 2014 Mid-Year Review UNRESTRICTED BUDGET - REVENUE AND EXPENDITURE DETAIL

Transcription

1 UNRESTRICTED BUDGET - REVENUE AND EXPENDITURE DETAIL FY FY FY FY 2014 Mid-Year 2014 Mid-Year vs Actual vs Allocation Actual Actual Allocation Mid-Year $ % $ % FTE ENROLLMENT Full Time 5,512 5,353 5,393 5,154 (199) -3.7% (239) -4.4% Part Time 5,079 5,080 5,124 5, % 5 0.1% TOTAL ENROLLMENT 10,591 10,433 10,517 10,283 (150) -1.4% (234) -2.2% REVENUE Tuition and Fees $ 52,469,604 54,426,909 $ 55,312,787 $ 53,856,841 $ (570,068) -1.0% $ (1,455,946) -2.6% State Appropriation 44,482,657 44,169,980 44,589,076 44,433, , % (155,790) -0.3% Sub-total before Debt Service 44,482,657 44,169,980 44,589,076 44,433, , % (155,790) -0.3% GO Debt Service 1,676,118 2,440,270 1,839,656 1,839,656 (600,614) -24.6% - 0.0% Total State Appropriation 46,158,775 46,610,250 46,428,732 46,272,942 (337,308) -0.7% (155,790) -0.3% Indirect Cost Recovery Research & Grants 423, , , , , % 204, % Auxiliary 129, , , , % - 0.0% Sales & Service 2,773,706 3,051,685 3,005,500 2,801,097 (250,588) -8.2% (204,403) -6.8% Miscellaneous Income 1,256,760 1,081, , ,200 (111,686) -10.3% - 0.0% TOTAL REVENUE 103,212, ,773, ,297, ,686,062 (1,087,863) -1.0% (1,611,153) -1.5% EXPENDITURES Personnel Services 77,481,304 80,034,876 84,125,890 82,731,803 2,696, % (1,394,087) -1.7% Operating Expenditures O/S Travel 82, , , ,000 (2,103) -1.7% - 0.0% Repairs 1,787,436 2,014,050 2,148,097 2,377, , % 229, % Utilities 2,364,866 2,087,197 2,180,677 2,180,677 93, % - 0.0% Rentals 518, , , ,429 (106,336) -22.3% (34,795) -8.6% Supplies 5,944,773 5,181,910 5,693,552 5,728, , % 34, % Bad Debt 808, , , , , % (150,000) -16.7% Miscellaneous 1,446,004 1,735,576 1,767,911 1,753,384 17, % (14,527) -0.8% Subtotal Operating 12,951,863 11,962,111 13,215,461 13,279,895 1,317, % 64, % Student Aid 3,732,377 3,808,336 3,880,525 3,599,025 (209,311) -5.5% (281,500) -7.3% Capital Outlays 6,813,087 6,720,307 2,429,758 2,429,758 (4,290,549) -63.8% - 0.0% Debt Service - General Oblig Debt 2,233,762 3,248,295 2,645,581 2,645,581 (602,714) -18.6% - 0.0% TOTAL EXPENDITURES $ 103,212,393 $ 105,773,925 $ 106,297,215 $ 104,686,062 $ (1,087,863) -1.0% $ (1,611,153) -1.5% Excess/(Deficiency) $ (0) $ - $ - $ - $ - $ -

2 Education & General Budget A- -B- -C- -D- Table 1-A -E- Budget Account OBJECT OF EXPENDITURE Change Code Actual Actual Allocation Mid-Year (D/B) (D/C) Salaries & Wages Regular Wages 39,103,541 39,643,386 41,393,197 40,762, % -1.5% Seasonal/Special Salaries/Wages & FICA 16,972,992 16,858,080 17,701,313 17,481, % -1.2% Overtime (1.5) 903,722 1,043,900 1,013,785 1,013, % 0.0% Holiday Pay 36,903 36,273 34,604 34, % 0.0% Medical Insurance Waiver Bonus 175, , , , % 0.0% Payroll Accrual 0 183, , , % 0.0% Subtotal Salaries and Wages 57,192,533 57,901,791 60,524,524 59,673, % -1.4% Employee Benefits Employees' Retirement (ERS) 2,097,382 2,047,199 2,290,745 2,290, % 0.0% Employees' Retirement (TIAA/CREF) 2,686,227 2,708,333 2,793,882 2,737, % -2.0% FICA (for Regular Earnings only) 2,958,946 3,004,370 3,087,707 3,039, % -1.6% Medical Insurance 8,003,132 8,763,561 9,560,569 9,370, % -2.0% 62411X Benefit Holiday (297,282) (370,700) 0 (350,000) -5.6% Dental insurance 483, , , , % -1.9% Vision Insurance 87,933 83,097 81,819 80, % -1.8% Health Insur - Retired Emp (1986) 9,954 9,197 9,200 9, % 0.0% Disability Insur (TIAA) 123, , , , % 0.0% Life Insurance 1,424 1,515 1,515 1, % 0.0% Assessed Fringe Benefits 1,385,759 1,410,428 1,476,766 1,604, % 8.6% Retiree Health Insur (ERS) 626, , , , % 0.0% Misc Employee Benefits 1,802 2,529 2,000 2, % 0.0% Retiree Health insur (BOG) 759, , , , % -2.1% Subtotal Benefits 18,928,650 19,653,375 21,406,724 20,863, % -2.5% Special Services Financial Svcs Other 62,615 65,300 70,000 70, % 0.0% Training & Education Svcs 206, , , , % 0.0% Other Design & Engineering 25, , , , % 0.0% Legal Svcs: General Other 62,509 42,872 75,000 75, % 0.0% Other Medical Svcs 15,755 16,090 14,550 14, % 0.0% Other Building & Grounds 972,925 1,254,864 1,344,942 1,344, % 0.0% Security Svcs 14,802 10,500 25,425 25, % 0.0% University/College Svcs Subtotal Special Services 1,360,121 2,479,710 2,194,642 2,194, % 0.0% Total Personnel Services $77,481,304 $80,034,876 $84,125,890 $82,731, % -1.7% Operating Expenditures Building Maintenance & Repairs 879, , , , % 0.0% Maintenance/Repairs: Vehicles 126, , , , % -16.4% Maintenance/Repairs: Other Equipment 907,727 1,022,358 1,234,916 1,234, % 0.0% Road Maintenance & Other Repairs 0 60,581 75, , % 305.4% Clothing & Accessories 13,536 26,421 16,000 16, % 0.0% Office Supplies & Equip (less than $5000) 236, , , , % 0.0% Comp Supplies/Software & Equip (less than $5000) 908,491 1,085,385 1,198,322 1,198, % 0.0% Janitorial Supplies & Equip 123, , , , % 0.0% Program Supplies & Equip (less than $5000) 3,007,286 2,071,557 2,353,382 2,353, % 0.0% Security/Safety Supplies 15,692 13,112 15,000 15, % 0.0% Building/Machinery Supplies & Equip (less $5000) 155, , , , % 0.0% Landscaping Supplies & Equip (less then $5000) 42,927 94,719 53,350 53, % 0.0% Dues & Fees 167, , , , % 0.0% Postage & Postal Svcs 270, , , , % 0.0% Other Advertising 331, , , , % 10.3% Printing: Outside Vendors 314, , , , % 0.0% Misc Expenses 645, , , , % 0.0% Staff Training 81, ,356 93,375 93, % 0.0% Insurance: Property/Casualty 493, , , , % 1.2% Pharmaceuticals 1,180 1,582 1,900 1, % 0.0% Medical Supplies (non-rx) 4,798 5,037 5,500 5, % 0.0% Fuel Oil #2 - Home Heating Oil 14,284 20,933 21,000 21, % 0.0%

3 Education & General Budget A- -B- -C- -D- Table 1-A -E- Budget Account OBJECT OF EXPENDITURE Change Code Actual Actual Allocation Mid-Year (D/B) (D/C) Fuel: Natural Gas 134, , , , % 0.0% Central Utilities Fund (ISF use only) 2,024,869 1,755,142 1,786,585 1,786, % 0.0% Water 61,934 44,792 52,788 52, % 0.0% Sewer Usage 129, , , , % 0.0% Rental/Lease Equipment 163, ,485 41,680 41, % 0.0% Rental of Outside Property 354, , , , % -9.6% Mileage Allowance 94,407 93,797 95,000 95, % 0.0% Out of State: Other 82, , , , % 0.0% Other Travel Related Costs 3,610 4,022 4,000 4, % 0.0% Internal Agency IT Charges 157, , , , % 0.0% Telephone & Telegraph 195, , , , % 0.0% Refunds/Bad Debt 808, , , , % -16.7% Supplemental Pension-Early Retirement % 0.0% Total Operating Expenditures $12,951,863 $11,962,111 $13,215,461 $13,279, % 0.5% Student Aid CCRI Grants & Scholarships 967,986 1,032,722 1,038,000 1,038, % 0.0% Other Scholarship & Waiver Pgms 151, , , , % 0.0% Subtotal Student Aid 1,119,065 1,345,297 1,358,525 1,358, % 0.0% Higher Education Waiver 1,115,778 1,182,326 1,189,500 1,258, % 5.8% Unemployment Waiver 923, , , , % -45.0% Student Waiver Exchange 70,873 64,078 65,000 50, % -23.1% Disabled Vets/Natl Guard 475, , , , % -7.8% Senior Citizen Waiver 27,966 28,933 30,000 15, % -50.0% Subtotal Waivers 2,613,312 2,463,039 2,522,000 2,240, % -11.2% Total Student Aid $3,732,377 $3,808,336 $3,880,525 $3,599, % -7.3% Capital Buildings & Structures - Acquisition Building Renovations & Improvements (min $250,000) 5,715,367 5,341,607 1,604,079 1,604, % 0.0% Construction in Progress Motor Vehicles 153, , , , % 0.0% Computer, greater than $ ,800 1,132, , , % 0.0% Total Capital $6,813,087 $6,720,307 $2,429,758 $2,429, % 0.0% Principal: College/Univ Debt 2,233,762 3,248,295 2,645,581 2,645, % 0.0% Total Unrestricted Budget $103,212,393 $105,773,925 $106,297,215 $104,686, % -1.5%

4 RESTRICTED BUDGET - REVENUE AND EXPENDITURE BUDGET FY FY FY FY Change Mid-Year 2014 Mid-Year Actual Actual Allocation Mid-Year vs Actual vs Allocation Revenue Auxiliaries $ 8,640,817 $ 8,779,850 $ 8,624,293 $ 8,863, % 2.8% Research & Sponsored 3,846,919 4,900,923 5,672,302 5,450, % -3.9% Scholarships/ Fellowships 31,298,782 31,014,130 31,004,157 33,118, % 6.8% Driver's Education 626, , , , % -4.4% RI Capital Fund-CCRI 1,836,009 2,975,021 2,268,675 2,268, % 0.0% Workforce Development 113, % -% ARRA Fire Safety 4,946, % -% Total Revenues 51,308,969 48,266,462 48,272,010 50,372, % 4.4% Expenditures Auxiliaries 8,054,094 8,003,236 8,095,877 8,356, % 3.2% Research & Sponsored 3,846,919 4,900,923 5,672,302 5,450, % -3.9% Scholarships/Fellowships 31,298,782 31,014,130 31,004,157 33,118, % 6.8% Driver's Education 626, , , , % -4.4% RI Capital Fund-CCRI 1,836,009 2,975,021 2,268,675 2,268, % 0.0% Workforce Development 113, % -% ARRA Fire Safety 4,946, % -% Total Expenditures 50,722,246 47,489,848 47,743,594 49,865, % 4.4% Excess/(Deficiency) Bookstore/Bond Fund 586, , , , % -4.1% Total Excess/(Deficiency) $ 586,723 $ 776,614 $ 528,416 $ 506, % -4.1%

5 RI Capital Fund Analysis A B C D E F FY FY FY FY Change Actual Actual Allocation Mid-Year (D/B) (D/C) A/P and Roof Fund ,298,199 2,763,766 2,143,675 2,143, % 0.0% Total A/P and Roofs 1,298,199 2,763,766 2,143,675 2,143, % 0.0% Lincoln HVAC/Fire Code , , % Total Lincoln HVAC/Fire Code 537, , % Knight Campus Renewal , , % Total Knight Campus Renewal , , % RI Capital Fund Total $1,836,009 $2,975,021 $2,268,675 $2,268, % 0.0%

6 FY 14 Mid-Year Review COMMUNITY COLLEGE OF RHODE ISLAND BOOKSTORE AND BOND REVENUE FUND ANALYSIS 2012 % of % 2013 % of % 2014 % of % 2014 % of % Actual Revenue Incr Actual Revenue Incr Allocation Revenue Incr Mid-Year Revenue Incr REVENUES BOOKSTORE: Net Sales 8,400, % 7.8% 8,542, % 1.7% 8,400, % -1.7% 8,639, % 2.8% Locker Rentals 1, % 62.1% % -52.8% 1, % 101.2% 1, % 0.0% Other Income 53, % 12.5% 64, % 22.0% 51, % -20.1% 51, % 0.0% Bookstore Revenue 8,455, % 7.8% 8,607, % 1.8% 8,453, % -1.8% 8,692, % 2.8% BOND FUND: Dining Commissions 23, % 86.5% 8, % -65.1% 15, % 79.8% 15, % 0.0% Student Fees 156, % 6.2% 149, % -4.4% 150, % 0.4% 150, % 0.0% Investment Income 5, % -2.2% 14, % 156.3% 5, % -60.9% 5, % 0.0% Bond Fund Revenue 185, % 12.1% 172, % -7.3% 170, % -0.9% 170, % 0.0% TOTAL Revenues 8,640, % 7.9% 8,779, % 1.6% 8,624, % -1.8% 8,863, % 2.8% EXPENDITURES BOOKSTORE: Personnel Services 1,308, % 6.8% 1,379, % 5.4% 1,436, % 4.1% 1,476, % 2.8% Operating Expenses: O/S Travel 3, % 97.1% 2, % -19.9% 2, % -28.8% 1, % -50.0% Repairs 13, % -10.3% 14, % 1.1% 19, % 35.6% 10, % -47.4% Utilities 72, % 0.0% 72, % 0.0% 72, % 0.0% 72, % 0.0% Other Miscellaneous 186, % 5.5% 157, % -15.4% 129, % -17.8% 129, % -0.2% Rentals % 80.2% - 0.0% - 0.0% - 0.0% Supl/Operating Exp 96, % -28.8% 75, % -21.8% 89, % 18.7% 98, % 10.6% Total Operating 373, % -13.0% 322, % -13.6% 312, % -3.0% 311, % -0.3% Cost of Goods Sold 6,134, % 10.7% 6,082, % -0.8% 6,134, % 0.9% 6,305, % 2.8% As a % of Net Sales* 6,134, % 7.5% 6,082, % -0.8% 6,134, % 0.9% 6,305, % 2.8% Indirect Cost 129, % 0.0% 129, % 0.0% 129, % 0.0% 129, % 0.0% Capital 70, % 0.5% 53, % -24.0% 40, % -25.1% 98, % 144.8% Total Bookstore Expense 8,016, % 5.9% 7,967, % -0.6% 8,053, % 1.1% 8,321, % 3.3% BOND REVENUE FUND: Personnel Services 12, % -6.7% 6, % -51.8% 14, % 129.0% 6, % -56.3% Debt Service 24, % -2.7% 29, % 17.6% 28, % -2.6% 28, % 0.0% Total Bond Fund Expense 37, % 6.3% 35, % -5.9% 42, % 20.2% 34, % -18.6% TOTAL Expenditures 8,054, % 0.6% 8,003, % -0.6% 8,095, % 1.2% 8,356, % 3.2% TOTAL Revenues 8,640, % 7.9% 8,779, % 1.6% 8,624, % -1.8% 8,863, % 2.8% Bookstore Surplus 438, % 639, % 400, % 370, % Bond Fund Surplus 148, % 136, % 128, % 136, % 586, % 776, % 528, % 506, %

7 GRANTS ANALYSIS 2012 % of % 2013 % of % 2014 % of % 2014 % of % Actual Revenue Incr Actual Revenue Incr Allocation Revenue Incr Mid-Year Revenue Incr Grants & Contracts Federal 2,069, % 39.9% 2,743, % 32.5% 2,991, % 9.1% 2,648, % -11.5% State 1,674, % -9.9% 2,024, % 20.9% 2,511, % 24.1% 2,321, % -7.6% Private 102, % -56.8% 133, % 29.9% 168, % 26.7% 480, % 185.2% Total Revenue $3,846, % 7.6% $4,900, % 0.0% $5,672, % 15.7% $5,450, % -3.9% EXPENDITURES Personnel Services 3,113, % 14.4% 3,923, % 0.0% 4,701, % 19.8% 4,306, % -8.4% Operating Expenses: O/S Travel 89, % 276.2% 37, % -58.1% 63, % 69.4% 39, % -37.2% Repairs 0 0.0% 0.0% 0 0.0% 6, % % Utilities 0 0.0% 0.0% 0 0.0% 0 0.0% % ---- Other Miscellaneous 192, % -55.9% 221, % 14.9% 294, % 32.9% 220, % -25.1% Rentals 31, % 52.9% 25, % -17.5% 29, % 17.1% 24, % -16.9% Supl/Oper Exp 396, % 8.1% 516, % 30.5% 430, % -16.7% 698, % 62.3% Total Operating 709, % -16.7% 801, % 13.0% 824, % 2.8% 984, % 19.4% Capital 23, % 175, % 146, % 158, % ---- Student Aid 0 0.0% 0 0.0% 0 0.0% 0 0.0% ---- Total Expenditures $3,846, % 7.6% $4,900, % 27.4% $5,672, % 15.7% $5,450, % -3.9% Total Revenues $3,846, % -21.5% $4,900, % -13.6% $5,672, % 4.1% $5,450, % -3.9% Excess/(Deficiency) 0 0.0% 0 0.0% 0 0.0% 0 0.0%

8 STUDENT AID ANALYSIS Table % of % 2013 % of % 2014 % of % 2014 % of % REVENUES Actual Revenue Incr Actual Revenue Incr Allocation Revenue Incr Mid-Year Revenue Incr Federal/Restricted BEOG (Pell) 27,609,480 88% 26.4% 27,420,361 88% -0.7% 27,420,361 88% 0.0% 29,168, % 6.4% SEOG 356,685 1% 16.7% 375,165 1% 5.2% 358,931 1% -4.3% 359, % 0.1% College Work Study 364,851 1% 8.8% 366,300 1% 0.4% 374,865 1% 2.3% 398, % 6.4% Subtotal Federal 28,331,016 91% 26.0% 28,161,826 91% -0.6% 28,154,157 91% 0.0% 29,926, % 6.3% External RIHEAA 2,967,766 9% 16.0% 2,852,304 9% -3.9% 2,850,000 9% -0.1% 3,192, % 12.0% Subtotal Private 2,967, % 2,852, % 2,850, % 3,192, % Total Aid Revenue $31,298, % 25.0% $31,014, % -0.9% $31,004, % 0.0% $33,118, % 6.8% EXPENDITURES Student Aid 31,298, % 25.0% 31,014, % -0.9% 31,004, % 0.0% 33,118, % 6.8% Total Expenditures $31,298, % 25.0% $31,014, % -0.9% $31,004, % 0.0% $33,118, % 6.8% Total Revenues $31,298, % 25.0% $31,014, % -0.9% $31,004, % 0.0% $33,118, % 6.8% Excess/(Deficiency)

9 Driver Education Program - Restricted Receipt A B C D Change Actual Actual Allocation Mid-Year (D/B) (D/C) Salaries & Wages Regular Wages 120, , , , % 0.0% Overtime (1.5) % 0.0% Seasonal/Special Salaries/Wages & FICA 338, , , , % -4.9% Medical Insurance Waiver Bonus % 0.0% Payroll Accrual % Subtotal Salaries and Wages 459, , , , % -3.7% Employee Benefits Employees' Retirement (ERS) 6,605 6,042 9,047 9, % 0.0% Employees' Retirement (TIAA/CREF) 8,291 8,250 8,250 8, % 0.0% FICA (for Regular Earnings only) 33,145 8,564 9,399 9, % 5.2% Medical Insurance 32,964 34,692 41,849 40, % -3.8% Dental insurance 2,249 2,309 2,331 2, % 10.9% Vision Insurance % 10.5% Disability Insur (BOG) % Assessed Fringe Benefits 4,534 4,386 4,848 4, % 0.0% Retiree Health Insur (ERS) 1,972 1,854 2,934 2, % -9.3% Retiree Health insur (BOG) 2,365 2,372 2, % -83.0% Subtotal Benefits $92,538 $69,204 $81,118 $78, % -3.1% Special Services Training & Education Svcs % 0.0% Subtotal Special Services % 0.0% Total Personnel Services $552,522 $528,148 $611,242 $589, % -3.6% Operating Expenditures Office Supplies & Equip (less than $5000) 1, , % -65.0% Program Supplies & Equip (less than $5000) 1,636 2,063 4,270 10, % 149.9% Other Advertising Printing: Outside Vendors 469 2,634 2,650 2, % -5.7% Misc Expenses , % Staff Training 1, Rental of Outside Property % 0.0% Out of State: Other 582 2,037 2,000 1, % -50.0% Telephone & Telegraph , % -56.8% Indirect Cost Recovery 66,251 59,654 70,258 67, % -4.4% Total Operating Expenditures $73,609 $68,390 $91,341 $82, % -9.7% Total Driver's Education Budget $626,131 $596,538 $702,583 $671, % -4.4%

10 Workforce Development Restricted Receipt Account A B C D Object of Expenditure Change Actual Actual Allocation Mid-Year (D/B) (D/C) Salaries & Wages Seasonal/Special Salaries/Wages & FICA $ 72,985 $ - $ - $ - Subtotal Salaries and Wages $ 72,985 $ - $ - $ - Employee Benefits Employees' Retirement (ERS) 6, % -% Employees' Retirement (TIAA/CREF) 3, % -% FICA (for Regular Earnings only) 5, % -% Medical Insurance 17, % -% Dental insurance 1, % -% Vision Insurance % -% Assessed Fringe Benefits 2, % -% Retiree Health Insur (ERS) 2, % -% Retiree Health insur (BOG) 1, % -% Subtotal Benefits $ 40,468 $ - $ - $ - -% -% Total Personnel Services $ 113,453 $ - $ - $ - -% -% Operating Expenditures Mileage Allowance $ 157 $ - $ - $ - -% -% Total Operating Expenditures $ 157 $ - $ - $ - Total Workforce Dev Budget $ 113,610 $ - $ - $ -