Expanded Budget & Financial Advisory Group

Expanded Budget & Financial Advisory Group

Expanded Budget & Financial Advisory Group

October 25, 2010

Minutes

Present:KristenAbel, SherriDixon, EdFrame, ElishaGonzalez-Bonnewitz, JaredGraber, DerekHarris, Keith Houck, JoeLivingston, LisaMacon, MicheleMcArdle, KathleenPlinske, PedroRivera, JoyceRomano, SandyShugart, DavidSutton, ChrisWettstein, BillWhite, JaneWiese

The meeting focused on a multi-year financial planning model developed by PedroRivera. The data for fiscal year 2009-10 was used for this year’s budget. Pedro reported that enrollment growth did not reach the 8% estimate, which means less revenue in the form of tuition, lab fees, tech fees, etc.

Leasing the McCoy Center is a source of unexpected revenue, since the lease was signed after the budget was finalized.

It doesn’t appear likely that the State will reduce revenue in January; however, more information will be available after the November elections.

Various scenarios within the multi-year financial planning model were discussed and how different decisions played out financially:

  • Increase tuition 3% more, since the State allowed an 8% increase and we only raised tuition 5%
  • Increase class sizes from an average of 22.4 to 22.6 or 23.4
  • Convert four-month instructors to full-time, tenure track
  • Offer more weekend classes
  • Offer late classes such as mid-night classes that would appeal to students that work the third-shift
  • Cluster weekend and late night classes together to reduce energy costs and so that students won’t have to walk past dark buildings
  • Offer discounted tuition for students that register early
  • Increase the capital improvement fee
  • Review enrollment for online classes and adjust accordingly

Keith asked for feedback to bring to the senior team:

  • Make every effort to ensure that students schedule their classes better and make better choices.
  • When enrollment increases, allow for increases in faculty, support staff and space needs
  • The change in the withdrawal policy will mean an increase in repeat students.
  • Explore the impact on average class sizes of growing AS enrollment and how online may impact average class size.

Keith requested that Budget and Financial Advisory Group members review the draft Budget Statement and send him any comments.

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