Ohlone Community College District 2015-2016 1st Quarter Financial Summary Report Presented To The Budget Committee November 3, 2015
for the period ending September 30, 2015 Agenda: Budget Updates Unrestricted General Funds Q1 Financial Report 311Q Budget Updates Other Funds Investment Report Committee Endorsement 2
Unrestricted General Fund Fund 10 What s Changed in Q1? No major changes in revenues or expenditures since Final Budget Negotiated Settlements with Unions to be implemented in Q2 & Q3 1 st Period Attendance Report anticipated in January, 2016 3
Unrestricted General Fund - Fund 10 Description 2015-2016 Final Budget Change 2015-2016 Q1 Budget Total Revenues 54,753,569 0 54,753,569 EXPENDITURES: Academic Salaries 14,230,242 0 14,230,242 Part Time Academic Salaries 7,580,154 247 7,580,401 Total Academic Salaries 21,810,396 247 21,810,643 CL Salaries 11,839,125 0 11,839,125 Benefits 8,654,323 0 8,654,323 Supplies 827,643 9,634 837,277 Operating Exp. 5,880,291 57,424 5,937,715 Capital Outlay 734,500 11,800 746,300 Interfund Transfer Out 373,705 (77,500) 296,205 Total Expenditures 50,119,983 1,605 50,121,588 NET ACTIVITY 4,633,586 (1,605) 4,631,981 Beginning Balance 8,357,332 (1,431) 8,355,901 Ending Fund Balance: 12,990,918 (3,036) 12,987,882 25.9% 25.9% 4
Components of Ending Fund Balance Unrestricted General Fund Fund 10 Description 2015-2016 Final Budget Change 2015-2016 Q1 Budget Committed To: Bookstore Inventory Buy Back 800,000 (800,000) 0 Faculty Medical Allowance-Temp 150,000 150,000 Assigned To: 5% Contingency Reserve 2,505,999 80 2,506,079 Rainy Day Reserve 1,000,000-1,000,000 Capital Improvement 225,000-225,000 Office Equipment 300,000-300,000 One-Time Funding 543,236 543,236 Computer Replacement 523,875 523,875 Sabbaticals 200,000 200,000 Retirement Contribution 1,340,846 1,340,846 Undesignated: 5,392,962 796,884 6,189,846 Total Fund Balance 12,990,918 (3,036) 12,987,882 5
Unrestricted General Funds (Funds 10 Through 18) Description Fund 10 General Fund Fund 12 Program Distribution Fund 13 Community Education Fund 14 Contract Education Fund 15 Smith Center Fund 18 Civic Center Total Q1 Budget Total Final Budget Revenues 54,753,569 35,503 2,050,000 60,000 180,000 252,829 57,331,901 57,311,398 Expenditures (50,121,588) (182,845) (2,240,589) (174,878) (177,000) (300,629) (53,197,529) (53,193,300) Net Activity 4,631,981 (147,342) (190,589) (114,878) 3,000 (47,800) 4,134,372 4,118,098 Beginning Fund Balance 8,355,901 170,202 1,273,893 476,121 16,556 890,845 11,183,518 11,184,986 Projected Ending Fund Balance 12,987,882 22,860 1,083,304 361,243 19,556 843,045 15,317,890 15,303,084 % 25.9% 28.8% 28.8% 6
California Community Colleges Chancellor's Office Quarterly Financial Status Report, CCFS- 311Q (Funds 10 through 18) Unrestricted General Fund Actual 2012-2013 Actual 2013-2014 Actuals 2014-2015 Projected 2015-2016 Total Unrestricted Revenue 44,979,441 48,273,314 51,400,890 57,331,901 Total Unrestricted Expenditures 46,121,066 48,326,669 50,727,220 53,197,529 Revenues Over (Under) Expenditures (1,141,625) (53,355) 673,670 4,134,372 Beginning Fund Balance 11,704,827 10,563,202 10,509,847 11,183,518 Ending Fund Balance 10,563,202 10,509,847 11,183,517 15,317,890 % of GF Fund Balance to GF Expenditures 22.9% 21.7% 22% 28.8% Annualized Attendance FTES: Annualized Reported FTES 7,765 7,888 8,133 8,104 Funded FTES 7,696 7,888 8,104 8,104 7 Unfunded 2 0 29 0
California Community Colleges Chancellor's Office Quarterly Financial Status Report, CCFS- 311Q Total General Fund Cash Balance 2012-2013 Actual 2013-2014 Actual 2014-2015 Actuals 2015-2016 Projected As of 09/30/2015 Total GF Cash Balance (Restricted &Unrestricted) 11,662,101 9,347,707 13,982,463 17,160,088 2015/2016 Unrestricted General Fund Adopted Budget Current Budget YTD Actuals % Total Unrestricted GF Revenue 57,311,398 57,331,901 11,199,293 19.6% Total Unrestricted GF Expenditures 53,193,300 53,197,529 12,326,876 23.5% 8
Budget Update - All Other Funds 20 Categorical 21 Grants 25 Parking 26 Health Serv. 41 Capital Outlay 43 Measure G 69 Ret. Benefits Revenues 6,138,343 2,473,081 720,000 351,000 635,705 100,200,000 480,510 Expenditures (6,143,802) (3,635,703) (710,070) (397,340) (735,705) (70,070,008) (630,510) Net Activity (5,459) (1,162,622) 9,930 (46,340) (100,000) 30,129,992 (150,000) Beginning Fund Balance 5,459 1,162,622 333,774 98,497 4,397,717 57,857,438 155,589 Projected Ending Fund Balance 0 0 343,704 52,157 4,297,717 87,987,430 5,589 9
Investment Report Investment Holder Amount 1 Alameda County Treasurer Cash Pool County Treasurer 2 Retiree Benefit Trust Morgan Stanley Smith Barney Purchase Date Maturity Date Rate As Of 67,438,553 NA NA 0.605% 9/30/15 3,125,884 6/1/10 N/A -4.260% 5.230% 3 Certificate of Deposit (ASOC) Fremont Bank 100,000 6/1/15 6/1/16 0.35% 9/30/15 Inception 4 ASOC Funds Investment Fremont Bank Coupon Rate Riverside CNTY, CA, Asset Leasing Corp. 46,722 5/31/13 11/1/16 4.00% 1.20% Merced CNTY, CA, CTFS Partn RFDG 97,250 5/31/13 7/1/18 4.00% 1.43% Los Angeles, CA, Dept. of Water & PWR 44,634 6/4/13 8/1/18 1.05% Cash Balance 16,640 Total Market Value As of 9/30/015 205,247 Yield 10
Investment Report 5 Technology Endowment US Bank/Trustee Amount Purchase Date Maturity Date Coupon Rate Yield City & County of S.F. San Bernardino Joint Powers State of CA Dept of Water Resources State of CA Dept of Water Resources State of CA Dept of Water Resources UC Regents - Revenue Bond Lodi Cal USD Dixon USD San Ysidro USD Saddleback VY USD Fontana USD Dublin USD Los Angeles Cal Community College Orange County Cal Local Transit Cal State G/O Bonds Series 2014 Cal State for Previous Issue GO State of Calif. Various Purpose G/O Cal State University Dreyfus Calif AMT Free Money Market Net Market increase/(decline) 1,514,100 1,528,635 788,678 485,340 254,804 1,233,430 306,870 492,996 562,011 107,765 349,341 108,190 445,780 696,204 598,915 644,045 98,060 393,628 582,512 (394,900) 11/17/11 12/19/11 2/10/12 2/10/12 2/10/12 2/13/12 2/13/12 9/23/13 9/23/13 10/24/13 10/22/13 11/26/13 12/11/13 12/11/13 3/05/15 3/05/15 3/02/15 11/01/13 9/30/15 9/1/21 10/1/21 5/1/17 5/1/17 5/1/17 5/15/18 8/1/18 8/1/20 8/1/17 8/1/17 5/1/18 8/1/17 8/1/20 2/15/20 12/1/20 10/1/19 2/1/19 11/1/18 5.75% 4.00% 3.00% 3.00% 4.50% 0.06% 3.09% 3.75% 0.82% 0.82% 0.82% 1.13% 1.15% 2.45% 1.82% 0.90% 1.25% 0.74% 0.62% 1.75% 1.40% 1.15% 0.98% 0.90% 0.06% Total Market Value of Endowment 10,796,402 11
for the period ending September 30, 2015 Questions? 12