CERRITOS COLLEGE 2010-11 PROPOSED ADOPTED BUDGET

CERRITOS COLLEGE2010-11

PROPOSED ADOPTED BUDGET SUMMARY

DAVID EL FATTALLOLA RIZKALLAH BUSINESS SERVICESOCTOBER 6, 2010

2010-11 BUDGET

2

Although the State of California has yet to adopt its own budget, the College is required to have its 2010-11 annual budget adopted by the Board of Trustees. This Budget provides a snapshot-in-time view of the District’s projected revenues and expenditures.

Projections are based upon the best and most current information available from both internal and external sources.

Budget revisions will be presented to the Board of Trustees throughout the year as new information becomes available.

An amended budget will be presented to the Board of Trustees after the District receives detailed budget information via the Chancellor’s Office Budget workshop.

GENERAL FUNDUNRESTRICTED

3

2010-11 BUDGET ASSUMPTIONS

ESTIMATED EXPENDITURES:Expenditures reflect a net marginal increase as follows: Health & Welfare: $400,000 Step and Column: $500,000 Utilities and other rate driven: $250,000 PERS Rate Increase: $306,588 No Board Election for 2010: ($726,600) District support for Categorical Programs $717,000

$1,446,9884

ESTIMATED REVENUES:Revenue assumptions reflect the marginal loss of $320,600 negative COLA.

2010-11 BUDGET ASSUMPTIONSCASH FLOW PROJECTION

As of September 20, 2010, Cerritos College has on hand in the General Fund-Unrestricted a total of $4,657,334.32 in cash, of which $2,500,000 was borrowed from another fund (Fund 41.0).

The State will not provide any 2010-11 apportionment revenues to community colleges until a state budget is adopted.

The College has not yet received any apportionment payments for fiscal year 2010-11.

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PROJECTED REVENUE

6

CERRITOS COMMUNITY COLLEGE DISTRICT2010-11 PROPOSED ADOPTED BUDGET

GENERAL FUND - UNRESTRICTED SUMMARY (FUND 01.0)

APPORTIONMENT$68,910,826

81%

LOTTERY$1,980,336

2%

OTHER STATE

$945,401 1%

TAXES$6,589,258

8%

ENROLL FEE$4,065,559

5%

OTHER LOCAL$2,853,634

3%

GENERAL FUND REVENUE

BEGINNING BALANCE & PROJECTED REVENUE

7

2009-10ACTUAL/ 2010-11 2010-11

2009-10 2009-10 UNAUDITED PROPOSED PROPOSEDADOPTED REVISED REVENUE/ TENTATIVE ADOPTED

BUDGET BUDGET EXPENDITURES BUDGET BUDGET

NET BEGINNING BALANCE $11,585,566 $11,585,566 $11,585,566 $10,800,000 $11,651,593

INCOME

FEDERAL $0 $422,412 $477,059 $0 $0STATE APPORTIONMENT $71,105,724 $69,357,612 $67,363,045 $66,486,778 $69,231,426 DEFICIT DUE TO PROPERTY TAX SHORTFALL ($2,811,839) $0 $0 $0 $0 RDA REVENUE ADJUSTMENT ($35,622) DEFICIT COEFFICIENY ($90,564) COLA DEFICIT $0 $0 $0 ($320,600) ($320,600) LOTTERY $2,020,632 $2,020,632 $1,980,336 $2,020,632 $1,980,336 OTHER STATE $1,900,519 $1,900,519 $1,099,581 $945,401 $945,401LOCAL TAXES $6,684,162 $6,589,258 $8,473,756 $8,937,137 $6,589,258 ENROLLMENT FEE $5,171,391 $4,065,559 $4,096,638 $4,379,058 $4,065,559 OTHER LOCAL $3,086,338 $3,016,004 $3,110,125 $2,853,634 $2,853,634MARGINAL REVENUE ASSUMPTIONS $0 $0 $0 $0

TOTAL INCOME $87,156,927 $87,245,810 $86,600,539 $85,302,040 $85,345,014

NET BEGINNING BALANCE & INCOME $98,742,493 $98,831,376 $98,186,105 $96,102,040 $96,996,607

CERRITOS COMMUNITY COLLEGE DISTRICT

2009-10 ACTUAL YEAR END AND 2010-11 PROPOSED ADOPTED BUDGET


PROJECTED EXPENDITURES

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CERTIFICATED SALARIES$39,806,444

44%

CLASSIFIED SALARIES$19,357,104

22%

STAFF BENEFITS$18,195,394

20%

BOOKS & SUPPLIES$1,651,089

2%

SERVICES & OPERATIONS$8,704,214

10%

CAPITAL OUTLAY

$1,208,066 1%

SUPPORT OF CATEGORICAL

$717,000 1%

GENERAL FUND EXPENDITURES


9

2009-10ACTUAL/ 2010-11 2010-11



EXPENDITURES

CERTIFICATED SALARIES (LESS F/T FAC FOR 2010-11) $42,950,271 $41,585,067 $38,831,892 $40,952,675 $39,806,444CLASSIFIED SALARIES $19,606,700 $19,272,300 $18,140,973 $19,227,343 $19,357,104STAFF BENEFITS $18,181,907 $17,547,047 $15,344,916 $18,729,572 $18,195,394BOOKS & SUPPLIES $1,640,207 $1,741,160 $1,229,706 $1,640,207 $1,651,089SERVICES & OPERATIONS $9,483,663 $9,222,093 $6,475,896 $8,632,767 $8,704,214CAPITAL OUTLAY $1,208,066 $1,285,226 $454,101 $1,208,066 $1,208,066SUPPORT FOR CATEGORICAL PROGRAMS $0 $60,000 $60,000 $60,000 $717,000 A)OTHER OUTGO $9,447 $6,823,213 $5,997,028 $9,447 $10,075POSITIVE VARIANCES ($500,000) ($1,500,000) $0 ($1,500,000) ($100,000)

TOTAL EXPENDITURES $92,580,261 $96,036,106 $86,534,512 $88,960,077 $89,549,386A) This amount is based on current information




PROJECTED RESERVES & ENDING BALANCE

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2009-10ACTUAL/ 2010-11 2010-11



RESERVES $4,725,263 $4,725,263 $4,725,263 $4,544,254 $4,613,719STATE MANDATED @ 5%DESIGNATED: EQUIPMENT FOR INST., LIB. & PHY. PLANT $700,000 $700,000 $0 $700,000 $650,000 VACANT FACULTY POSITIONS TO BE FILLED IN 2010-11 $1,369,300 B) $0 TECHNOLOGY NEEDS $500,000 $500,000 $0 $500,000 $500,000 CONSTRUCTION AUGMENTATIONS $200,000 $200,000 $0 $200,000 $200,000 GASB 45 RETIREE HEALTH BENEFIT FUND $500,000 $500,000 $0 $500,000 $500,000 SELF-INSURANCE FUND $25,000 $25,000 $0 $25,000 $25,000 ECONOMIC UNCERTAINTIES $400,000 $400,000 $0 $400,000 $400,000 COMP AND CLASS ROUGH ESTIMATE $450,000UNDESIGNATED RESERVE ($188,031) ($4,254,993) $5,557,030 $272,709 $108,502

TOTAL RESERVES $6,862,232 $2,795,270 $11,651,593 $7,141,963 $7,447,221

TOTAL EXPENSES & ENDING BALANCE $98,742,493 $98,831,376 $98,186,105 $96,102,040 $96,996,607

ENDING BALANCE AS % OF EXPENDITURE 5.22% 0.89% 13.46% 5.74% 5.12%

$0 $0 $0 $0 $0

B) New faculty that are hired for 2010-11




GENERAL FUND RESTRICTED-

CATEGORICAL

11


ESTIMATED REVENUES/EXPENDITURES:For the fiscal year 2010-11, budget reductions have been implemented.2009-10 programs were affected as follows:

CalWORKs EOPS Matriculation (credit & non-credit) DSPS

The District has allocated a total of $717,000 as support for Categorical Programs. We anticipate this amount changing once solid information for 2010-11 becomes available. The Adopted Budget only includes salaries & benefits for the above programs.

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PROJECTED REVENUE

13


GENERAL FUND - RESTRICTED SUMMARY (FUND 01.3)

FEDERAL$2,043,412

29%

DSPS**$1,029,052

15%

EOPS**$608,173

9%

MATRICULATION**$595,597

8%

OTHER STATE$2,619,665

37%

LOCAL$151,963

2%

GENERAL FUND - RESTRICTED REVENUE


14

2009-10ACTUAL/ 2010-11 2010-11




INCOME

FEDERAL $1,611,591 $3,688,804 $3,032,611 $1,470,196 $2,043,412STATE DSPS** $1,452,535 $1,083,287 $1,083,288 $1,029,052 $1,029,052 EOPS** $818,422 $703,998 $664,662 $568,837 $608,173 MATRICULATION** $1,034,338 $533,775 $533,775 $595,597 $595,597 OTHER STATE $3,971,406 $3,688,496 $3,429,229 $2,218,222 $2,619,665LOCAL OTHER LOCAL $404,038 $324,242 $333,469 $143,770 $151,963

TOTAL INCOME $9,292,330 $10,022,602 $9,077,034 $6,025,674 $7,047,862






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CERTIFICATED SALARIES

$1,137,970 12%

CLASSIFIED SALARIES

$2,004,193 20%

STAFF BENEFITS$1,071,099

11%BOOKS & SUPPLIES$5,293,566

53%

SERVICES & OPERATIONS

$43,278 0%

CAPITAL OUTLAY

$350,511 4%

OTHER OUTGO$11,960

0%

GENERAL FUND - RESTRICTED EXPENDITURES

PROJECTED EXPENDITURES & ENDING BALANCE

16

2009-10ACTUAL/ 2010-11 2010-11



EXPENDITURES

CERTIFICATED SALARIES $1,161,990 $2,690,786 $2,102,200 $1,283,029 $1,137,970CLASSIFIED SALARIES $2,147,801 $3,909,202 $3,659,878 $2,429,990 $2,004,193STAFF BENEFITS $1,037,186 $1,568,135 $1,305,859 $1,135,594 $1,071,099BOOKS & SUPPLIES $3,090,973 $3,182,056 $443,437 $818,188 $5,293,566SERVICES & OPERATIONS $435,858 $724,808 $457,871 $21,557 $43,278CAPITAL OUTLAY $550,222 $795,406 $672,765 $325,356 $350,511OTHER OUTGO $326,056 $315,936 $293,649 $11,960 $11,960

TOTAL EXPENDITURES $8,750,086 $13,186,329 $8,935,658 $6,025,674 $9,912,577

ENDING BALANCE $4,123,892 $417,921 $3,723,023 $3,581,648 $858,308





CERTIFICATES OF PARTICIPATION

FUND

17

2010-11 BUDGET ASSUMPTIONSBALANCE FROM THE DISTRICT’S COPS ISSUE:This fund was designated to provide COPS money for major technology and construction/remodeling projects on campus. Currently the remainder of the fund is being utilized for software conversions.

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19

2009-10ACTUAL/ 2010-11 2010-11



NET BEGINNING BALANCE $148,467 $148,467 $148,467 $148,467 $150,587

INCOME & TRANSFERS IN

INTEREST $0 $0 $2,120 $0 $0PROCEEDS FROM COPS $0 $0 $0 $0 $0TRANSFERS IN $0 $0 $0 $0 $0

TOTAL INCOME $0 $0 $2,120 $0 $0

NET BEGINNING BALANCE & INCOME $148,467 $148,467 $150,587 $148,467 $150,587



OTHER DEBT SERVICE FUND - COPS (FUND 29.0)

CERTIFICATES OF PARTICIPATION FUNDING FOR CAPITAL OUTLAY PROJECTS


20

2009-10ACTUAL/ 2010-11 2010-11



EXPENDITURES

EXPENDITURES $147,153 $147,153 $0 $147,153 $147,153OTHER DEBT SVC $0 $0 $0 $0 $0

TOTAL EXPENDITURES $147,153 $147,153 $0 $147,153 $147,153

ENDING BALANCE $1,314 $1,314 $150,587 $1,314 $3,434

TOTAL EXPENSES & ENDING BALANCE $148,467 $148,467 $150,587 $148,467 $150,587



OTHER DEBT SERVICE FUND - COPS (FUND 29.0)

CERTIFICATES OF PARTICIPATION FUNDING FOR CAPITAL OUTLAY PROJECTS

SPECIAL REVENUE FUND

21


ESTIMATED REVENUES/EXPENDITURES:This fund was established to account for the financial activities of the following entities with total revenue and expenditures, including carryover, projected as follows: Community Education: $1,299,280 Contract Education: $ 80,234 Cosmetology: $ 200,000 Culinary Arts: $ 172,600 Parking: $1,227,897

$2,989,01122

PROJECTED REVENUE

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OTHER SPECIAL REVENUE FUND SUMMARY (FUND 39.0)COMMUNITY EDUCATION, CONTRACT EDUCATION, COSMETOLOGY, CULINARY ARTS AND PARKING

COMMUNITY EDUCATION$1,299,280

43%

CONTRACT EDUCATION$89,234

3%

COSMETOLOGY$200,000

7%

CULINARY ARTS$172,600

6%

PARKING$1,227,897

41%

SPECIAL REVENUE FUNDREVENUE


24

2009-10ACTUAL/ 2010-11 2010-11




INCOME

COMMUNITY EDUCATION $1,894,977 $1,482,603 $1,205,988 $1,299,280 $1,299,280CONTRACT EDUCATION $1,272,350 $514,730 $699,705 $80,447 $89,234COSMETOLOGY $197,746 $275,000 $300,113 $200,000 $200,000CULINARY ARTS $180,262 $180,262 $142,410 $172,600 $172,600PARKING $1,955,644 $1,370,000 $1,380,051 $1,227,897 $1,227,897INTEREST $0 $0 $32,636 $0 $0INCOMING TRANSFERS $0 $0 $0 $0 $0

TOTAL INCOME $5,500,979 $3,822,595 $3,760,903 $2,980,224 $2,989,011



OTHER SPECIAL REVENUE FUND SUMMARY (FUND 39.0)


COMMUNITY EDUCATION, CONTRACT EDUCATION, COSMETOLOGY, CULINARY ARTS AND PARKING


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COMMUNITY EDUCATION$1,424,907

26%

CONTRACT EDUCATION$1,810,791

33%

COSMETOLOGY$234,477

4%

CULINARY ARTS$180,326

3%

PARKING$1,849,299

34%

SPECIAL REVENUE FUNDEXPENDITURES


OTHER SPECIAL REVENUE FUND SUMMARY (FUND 39.0)COMMUNITY EDUCATION, CONTRACT EDUCATION, COSMETOLOGY, CULINARY ARTS AND PARKING


26

2009-10ACTUAL/ 2010-11 2010-11



EXPENDITURES

COMMUNITY EDUCATION $1,599,252 $1,600,100 $1,202,269 $1,299,280 $1,424,907CONTRACT EDUCATION $1,163,792 $2,208,486 $691,404 $80,447 $1,810,791COSMETOLOGY $152,387 $275,000 $265,637 $200,000 $234,477CULINARY ARTS $172,600 $215,768 $170,190 $172,600 $180,326PARKING $1,468,265 $1,868,670 $1,262,228 $1,227,897 $1,849,299


ENDING BALANCE $3,526,790 $236,678 $2,751,282 $2,582,107 $240,493





COMMUNITY EDUCATION, CONTRACT EDUCATION, COSMETOLOGY, CULINARY ARTS AND PARKING

VINTAGE CERRITOSSTUDENT SUCCESS

27


ESTIMATED REVENUES/EXPENDITURES:This fund was established to account for income generated from ground lease payments received as a result of the senior care project. Funds have been designated to be used exclusively for activities related to student success as designatedby the Board.

Revenue: Ground Lease: $380,267 (plus occupancy rate incentives)

Expenditures: Sakai r-Smart: $28,000 Library Information System: $52,297

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29

2009-10ACTUAL/ 2010-11 2010-11




INCOME

INTEREST $0 $0 $36,537 $0 $0GROUND LEASE $380,267 $380,267 $515,958 $380,267 $380,267LOCAL-CONTRACT EDUCATION $173,762 $173,762 $63,328 $0

TOTAL INCOME $554,029 $554,029 $615,822 $380,267 $380,267





VINTAGE CERRITOS SENIOR CARE PROJECT


30

SAKAI r-SMART$28,000

35%

LIBRARY INFORMATION

SYSTEM$52,297

65%

VINTAGE CERRITOS SENIOR CARE PROJECTEXPENDITURES


VINTAGE CERRITOS SENIOR CARE PROJECTOTHER SPECIAL REVENUE FUND SUMMARY (FUND 39.1)

2010-11 PROPOSED ADOPTED BUDGET


31

2009-10ACTUAL/ 2010-11 2010-11



EXPENDITURES

SAKAI r-SMART $28,000 $28,000 $16,250 $28,000 $28,000LIBRARY INFORMATION SYSTEM $52,297 $52,297 $49,979 $52,297 $52,297JAMES IRVINE FOUNDATION $173,762 $173,762 $63,328 $0 $0

TOTAL EXPENDITURES $254,059 $254,059 $129,557 $80,297 $80,297

ENDING BALANCE $2,711,633 $2,711,633 $2,897,929 $2,711,633 $3,197,899


Expenditures will be designated by the Board for student success




VINTAGE CERRITOS SENIOR CARE PROJECT

CAPITAL OUTLAY FUND

32


ESTIMATED REVENUES/EXPENDITURES:This fund was established to account for State Scheduled Maintenance and Construction/ Remodeling projects. Other activities include District Match (when funds are available), Technology Needs and Construction Augmentation. Expenditures:

GYM Seismic Retrofit: $8,734,000 Scheduled Maintenance: $ 699,441 Local Projects: $1,793,223

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PROJECTED REVENUE

34

STATE CLAIMS / INCOME$8,734,000

93%

TRANSFERS IN / DISTRICT MATCH

$700,000 7%

CAPITAL OUTLAY REVENUE

CAPITAL OUTLAY PROJECTS FUND (FUND 41.0)



35

2009-10ACTUAL/ 2010-11 2010-11




INCOME & TRANSFERS IN

STATE CLAIMS / INCOME $9,561,119 $9,561,119 $169,688 $9,678,000 $8,734,000INTEREST $0 $0 $187,078 $0 $0LOCAL INCOME $0 $500,000 $500,000 $0 $0TRANSFERS IN / DISTRICT MATCH $700,000 $700,000 $5,464,139 $700,000 $700,000

TOTAL INCOME $10,261,119 $10,761,119 $6,320,905 $10,378,000 $9,434,000






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SEISMIC RETROFIT-GYM$8,734,000

78%

SCHEDULED MAINTENANCE

$699,441 6%

LOCAL PROJECTS/FUNDS

$1,793,223 16%

CAPITAL OUTLAY PROJECTS EXPENDITURES




37

2009-10ACTUAL/ 2010-11 2010-11



EXPENDITURES

SEISMIC RETROFIT-GYM $9,561,119 $9,561,119 ($72,881) $9,678,000 $8,734,000SCHEDULED MAINTENANCE $802,887 $802,887 $103,634 $740,221 $699,441LOCAL PROJECTS/FUNDS $6,371,556 $6,871,556 $644,373 $6,499,203 $1,793,223TRANSFERS OUT/DISTRICT MATCH $0 $0 $0 $0 $0

TOTAL EXPENDITURES $16,735,562 $17,235,562 $675,126 $16,917,424 $11,226,664

ENDING BALANCE $6,870,302 $6,870,302 $18,990,524 $6,805,321 $17,197,860

TOTAL EXPENDITURES & ENDING BALANCE $23,605,864 $24,105,864 $19,665,650 $23,722,745 $28,424,524




REVENUE AND CONSTRUCTION FUND

38


ESTIMATED REVENUES/EXPENDITURES:This fund was established to track all projects generated by the GO Bond funds. Expenditure highlights:

Auto Tech Modernization: $4,645,931 Physical Science/Technology

(CLO #1): $4,546,243 Facilities/Warehouse/Purchasing: $3,747,304 Aquatic Center (shade/storage) $ 750,000 Fire Alarm Upgrade: $ 774,454

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ESTIMATED REVENUES/EXPENDITURES: Expenditure highlights (cont’d):

Liberal Arts Project: $1,250,000 Parking Lot Renovations: $2,682,037 Parking Lot-New: $1,138,605 Social Science Project: $1,185,281

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41

2009-10ACTUAL/ 2010-11 2010-11




INCOME

INTEREST $0 $672,887 $0 $0NEW BOND SALE, SERIES 2009C

TOTAL INCOME $0 $0 $672,887 $0 $0




REVENUE AND CONSTRUCTION FUND (FUND 42.0)

GENERAL OBLIGATION BOND FUND


42


GENERAL OBLIGATION BOND FUNDREVENUE AND CONSTRUCTION FUND (FUND 42.0)

2010-11 PROPOSED ADOPTED BUDGET

AUTOMOTIVE TECH MODERNIZATION

$4,645,93117%

PHYSICAL SCIENCE/TECHNOLOY

(CLO #1)$4,546,243

16%

AUTOMOTIVE PARTNERS BLDG

$250,0001%

FACILITIES/WAREHOUSE/PURCHASING

$3,747,30413%CONSTRUCTION

MANAGEMENT$757,359

3%

AQUATIC CENTER$750,000

3%

FIRE ALARM UPGRADE$774,454

3%

LIBERAL ARTS PROJECT$1,250,000

4%INFORMATION TECH UPDATES

$00%

PARKING LOT RENOVATIONS

$2,682,03710%

SOCIAL SCIENCE PROJECT

$1,185,2814%

CAMPUS ACCESSIBILITY

UPGRADES$500,000

2%

GENERAL CAMPUS REPAIRS$607,661

2%

PARKING LOTS-NEW$1,138,605

4%

MISCELLANEOUS PROJ BELOW $1 MILLION*

$5,054,23218%

GENERAL OBLIGATION BOND FUND EXPENDITURES


43

2009-10ACTUAL/ 2010-11 2010-11



EXPENDITURES

AUTOMOTIVE TECH MODERNIZATION $9,527,015 $9,527,015 $2,075,910 $4,000,000 $4,645,931PHYSICAL SCIENCE/TECHNOLOGY (CLO #1) $8,991,317 $10,602,281 $8,510,262 $4,546,243 $4,546,243AUTOMOTIVE PARTNERS BLDG $8,683,612 $7,228,787 $3,009,086 $250,000 $250,000FACILITIES/WAREHOUSE/PURCHASING $3,500,000 $2,670,557 $2,463,418 $6,500,000 $3,747,304CONSTRUCTION MANAGEMENT $3,010,000 $3,231,565 $3,231,565 $757,359 $757,359AQUATIC CENTER (SHADE STRUCTURE/STORAGE FACILITY) $2,537,468 $2,218,937 $956,643 $500,000 $750,000FIRE ALARM UPGRADE $2,037,985 $2,165,899 $1,577,138 $2,000,000 $774,454LIBERAL ARTS PROJECT $2,000,000 $2,000,000 $243,092 $1,250,000 $1,250,000INFORMATION TECH UPDATES $2,000,000 $2,000,000 $413,310 $1,736,513 $0PARKING LOT RENOVATIONS $1,700,000 $2,124,068 $2,056,433 $250,000 $2,682,037SOCIAL SCIENCE PROJECT $1,550,000 $1,550,000 $925,543 $1,185,281 $1,185,281CAMPUS ACCESSIBILITY UPGRADES $1,500,000 $1,278,435 $134,619 $500,000 $500,000GENERAL CAMPUS REPAIRS $1,000,000 $1,000,000 $392,339 $772,114 $607,661PARKING LOTS-NEW $0 $1,479,221 $767,128 $1,138,605MISCELLANEOUS PROJ BELOW $1 MILLION $6,063,562 $5,024,194 $1,352,150 $6,065,265 $5,054,232


ENDING BALANCE $1,223,897 $1,223,897 $27,889,107 $5,918,608 $0




REVENUE AND CONSTRUCTION FUND (FUND 42.0)

GENERAL OBLIGATION BOND FUND

44

SELF-INSURANCE FUND


ESTIMATED REVENUES/EXPENDITURES:This fund was established in 2004-05 to provide for self-insured risk-management expenses. Transfers in/Expenditures: $25,000

45


46

2009-10ACTUAL/ 2010-11 2010-11




INCOME

INTEREST $0 $0 $13,243 $0 $0LOCAL INCOME $0 $0 $0 $0 $0TRANSFERS IN $25,000 $25,000 $25,000 $25,000 $25,000

TOTAL INCOME $25,000 $25,000 $38,243 $25,000 $25,000

NET BEGINNING BALANCE & INCOME $952,023 $952,023 $965,266 $952,023 $973,777



SELF-INSURANCE FUND SUMMARY (FUND 61.0)


47

2009-10ACTUAL/ 2010-11 2010-11



EXPENDITURES $25,000 $25,000 $16,488 $25,000 $25,000

ENDING BALANCE $927,023 $927,023 $948,777 $927,023 $948,777

TOTAL EXPENSES & ENDING BALANCE $952,023 $952,023 $965,266 $952,023 $973,777



SELF-INSURANCE FUND SUMMARY (FUND 61.0)

STUDENT HEALTH SERVICES FUND

48


ESTIMATED REVENUES/EXPENDITURES: This fund was established to capture the income and

expenditures generated by the Student Health Services Program. This is a self-supporting program. It is estimated that $880,268 will be generated in revenue with expenditures budgeted at $797,740.

49

50

PROJECTED REVENUE

MISCELLANEOUS$10,000

1%

HEALTH FEES$870,268

99%

STUDENT HEALTH SERVICES REVENUE


STUDENT HEALTH SERVICES FUND (FUND 69.0)


51

2009-10ACTUAL/ 2010-11 2010-11



NET BEGINNING BALANCE * $1,462,298 $1,462,298 $1,462,298 $1,462,298 $1,645,795

INCOME

MISCELLANEOUS $148,087 $0 $10,000INTEREST $0 $0 $17,765 $0 $0HEALTH FEES $849,709 $906,081 $846,973 $870,268 $870,268

TOTAL INCOME $849,709 $906,081 $1,012,826 $870,268 $880,268


* In accordance with Governmental Accounting Standards the beginning balance includes the cost of the Student Health Services building at $395,880 as an asset





52

CLASSIFIED SALARIES$346,388

43%

STAFF BENEFITS$147,173

19%

BOOKS & SUPPLIES$129,500

16%

SERVICES & OPERATIONS

$154,679 19%

CAPITAL OUTLAY$20,000

3%

STUDENT HEALTH SERVICES EXPENDITURES




53

2009-10ACTUAL/ 2010-11 2010-11



EXPENDITURES

CLASSIFIED SALARIES $405,804 $465,404 $457,203 $441,084 $346,388STAFF BENEFITS $150,911 $165,617 $126,808 $135,005 $147,173BOOKS & SUPPLIES $133,000 $108,000 $93,529 $129,500 $129,500SERVICES & OPERATIONS $126,250 $147,422 $151,788 $144,679 $154,679CAPITAL OUTLAY $15,000 $900 $0 $20,000 $20,000

TOTAL EXPENDITURES $830,965 $887,343 $829,328 $870,268 $797,740

ENDING BALANCE $1,481,042 $1,481,036 $1,645,795 $1,462,298 $1,728,323





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RETIREE HEALTH BENEFIT FUND

GASB 45


ESTIMATED REVENUES/EXPENDITURES:This fund was established in 2004-05 to initialize the funding of the District’s liability for future payment of employees retirement health benefits. The District will transfer in $500,000 which will bring the balance to $3.7 million in the 2010-11 year.

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2009-10ACTUAL/ 2010-11 2010-11




INCOME

INTEREST $0 $0 $39,332 $0 $0TRANSFERS IN $500,000 $500,000 $500,000 $500,000 $500,000

TOTAL INCOME $500,000 $500,000 $539,332 $500,000 $500,000




RETIREE HEALTH BENEFIT FUND SUMMARY (FUND 69.1)


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2009-10ACTUAL/ 2010-11 2010-11



EXPENDITURES $0 $0 $0 $0 $0

ENDING BALANCE $3,254,976 $3,254,976 $3,294,308 $3,754,976 $3,794,308




RETIREE HEALTH BENEFIT FUND SUMMARY (FUND 69.1)

FINANCIAL AID FUND

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ESTIMATED REVENUES/EXPENDITURES:This fund distributes financial aid to students.Programs include:

Pell Grant: $40,000,000 SEOG: $

355,912 Cal Grants: $ 2,002,615 Nursing Grants: $ 14,989 Academic Competitiveness Grant: $

250,000

Expenditures consist of cash grants59

PROJECTED REVENUE

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PELL GRANT**$40,000,000

93.84%

SEOG $355,912

0.84%

CAL GRANTS$2,002,615

4.70%

NURSING GRANTS$14,989 0.04%

ACADEMIC COMP$250,000

0.59%

STUDENT FINANCIAL AID FUND REVENUE


STUDENT FINANCIAL AID FUND SUMMARY (FUND 74.0)2010-11 PROPOSED ADOPTED BUDGET


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2009-10ACTUAL/ 2010-11 2010-11




INCOME

PELL GRANT** $20,000,000 $35,000,000 $28,455,079 $40,000,000 $40,000,000SEOG $345,549 $354,529 $344,166 $345,549 $355,912CAL GRANTS $2,000,000 $2,000,833 $1,645,687 $2,000,000 $2,002,615NURSING GRANTS $14,989 $21,561 $21,561 $14,989 $14,989ACADEMIC COMPETITIVENESS GRANT** $150,000 $200,000 $189,998 $250,000 $250,000INTEREST $0 $0 $0 $0 $0

TOTAL INCOME $22,510,538 $37,576,923 $30,656,491 $42,610,538 $42,623,516




STUDENT FINANCIAL AID FUND SUMMARY (FUND 74.0)


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2009-10ACTUAL/ 2010-11 2010-11



EXPENDITURES

STUDENT FINANCIAL AID $22,510,538 $37,576,923 $30,656,491 $42,610,538 $42,623,516


ENDING BALANCE $114,549 $114,549 $114,549 $114,549 $114,549




STUDENT FINANCIAL AID FUND SUMMARY (FUND 74.0)

The End For any questions, please contact David El Fattal [email protected]

Ext 2242 Lola Rizkallah [email protected]

Ext 2266

Thank You

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mailto:[email protected]

mailto:[email protected]

Documents

CERRITOS COLLEGE 2010-11 PROPOSED ADOPTED BUDGET