Fiscal Year 2014 Budget A Case Study

Tonia McKoy

April 11, 2013

Mission

Paradise Community College is a learning center comprehensive college providing quality educational opportunities that meet the academic, career, social, cultural needs of its diverse student population. With a commitment to ensuring student success, Paradise offers rigorous, quality, accessible and affordable programs in an inclusive and supportive environment.

Vision

Paradise Community College will be a premier learning-center college that fosters student success and student transformation through academic excellence.

Located in Northern New Jersey Founded in 1968 Two locations: Teaneck (1968) and Rutherford (2012) Service Area: Clearview County Enrollment: Over 20,000 students in credit and non-credit programs or services

Paradise offers: 20 Associates of Arts (AA) degree options 23 Associates of Science (AS) degree options 27 Associates of Applied Science (AAS) degree options 20 Certificates

First Budget Committee Meeting (November 2012) -Review prior year budget performance -Establish parameter for developing next budget -Review budget strategies/procedures -Review strategic priorities and preliminary budget assumptions Preliminary Planning, Unit Level (October - December 2012) - Budget unit heads work within departments to identify priorities and needs that support strategic priorities/operational function. - Priority and needs are submitted to the Budget Committee Committee Working Sessions (December 2012 January 2013) -Meet with units leaders to discuss priorities and needs -Executive Team and Board review and prioritization of needs -Review current budget performance Draft Budget (February 2013 March 2013) -Board approval of increase in tuition and fee, if applicable -Draft budget Open Forums/Presentation (April 2013) -Presentation and forums to get further input on budget, including two on campus forums, and presentation to Board of Estimates and County Budget Revisions and Approvals (May June 2013) -Final revisions to the budget -Board of School Estimates approval of county funds -Board of Trustees Approval -Budget Adoption

Support the strategic goals set out in Colleges strategic plan, A Vision for Student Success Fund initiatives that align with these goals, especially those with emphasis on:
learning student success

State funding to community colleges will remain flat

No expected funding cuts from County for FY2014

2% increase in tuition Recent surge in enrollment is expected to slow down

Aggressive marketing and high school outreach should

help with enrollment All contractual obligations will met

Strategic prioritizing of personnel needs

Delay some facilities maintenance

Proposed Budget (FY2014) Revenues Tuition Student Fees County State Other Counties Sales & Services, Auxiliary Enterprise Other Sources Fund Balance Appropriation Total Unrestricted Restricted: Student Aid & Grants Total Current Revenues $11,200,000 $46,805,506 $16,505,000 $5,200,100 $2,100,000 $4,000,100 $1,500,006 $1,700,200 $2,400,000 $2,200,100 $35,605,506

Percent of Total

Current Budget (FY2013)

Percent of Total

Previous Budget (FY2012)

Percent of Total

35% 11% 4% 9% 3% 4% 5% 5%

$13,750,000 $4,200,000 $1,200,100 $3,000,100 $1,100,000 $1,150,125 $1,298,000 $2,300,100 $27,998,425

37% 11% 3% 8% 3% 3% 3% 6%

$11,000,000 $3,500,100 $1,500,000 $2,250,100 $830,100 $826,000 $870,015 $2,000,000 $22,776,315

34.7% 11.0% 4.7% 7.1% 2.6% 2.6% 2.7% 6.3%

24% 100%

$9,100,000 $37,098,425

25% 100%

$8,950,000 $31,726,315

28.2% 100.0%

Figure 1: Fiscal Year 2012, Expenditures

Contingency Finanical Aid 7% 6%

Plant Operation & Maintenance 9% Instruction 28%

Instructional Support 5%

Student Services
College Support 29% 16%

Figure 2: Fiscal Year 2014, Expenditures

Contingency

Finanical Aid 6% Plant Operation & Maintenance 6%

7%

Instruction 31%

College Support 30% Student Services 15%

Instructional Support 5%

Barr, M. J., & McClellan, G. S. (2011). Budget and financial management in higher education. San Francisco: Jossey-Bass. Ewen, D., Maurer, S., & Nolen, D. (1998, ). Linking strategic goals to the community college budget. Community College Journal of Research and Practice, 22(6), 607618. Goldstein, L. (2005). College and university budgeting: An (3rd ed.). Washington DC: National Association of College and University Business Officers. Mullin, C. M., & Honeyman, D. S. (2008). The funding of community colleges formulas and governance. http://dx.doi.org/10.1080/10668920701382518

introduction for faculty and academic administrators

Community College Journal of Research and Practice, 32, 512-524.