Annual Budget Planning Committee meeting
Thursday, March 26, 2015
1:00pm, Room 5118
Members present: Cynthia Lofaso, David Lightfoot, Dianne Sykes, Ed McGee, Ernie Wade, Jim Lemons, John Capps, John Poole, Kris Ogden, Michael Farris, Mike Bradford, Muriel Mickles, Tim Rhoads
Members absent: Jana Fedele, Jeff Laub, Ruth Hendrick, Tom Bushley, Will Sandidge, Brandon Huynh
Review Goals and Objectives of the Committee
Kris Ogden called the meeting to order at 1:01pm and briefly explained the role of the committee and its creation by the College Governance Committee (CGC). Last year, the budget priority list was used by fund managers where additional funds were available.
Each member of the committee received a packet including a roster of the committee including their roles, the agenda for the meeting, the Annual Strategic Budget Planning Schedule, the Budget Request Prioritization Rubric, and the Budget Request Template.
Kris made a motion to elect Kevin Riley as recorder for the committee, seconded by Muriel Mickles, and was approved.
Budget requests are entered in Compliance Assist and are due in by March 31, 2015. Afterwards, members will receive a packet including the budget requests and rubric and a rater code. Members will score requests according to the rubric with the College’s mission and goals in mind. For 2015-16, the list will be prioritized by funding source.
Maintenance and Operations (M&O) and Local Funds – John Poole
M&O funds come from the General Assembly and VCCS. Last year, funds available for new programs/projects were minimal. Salaries come out of this budget and this year includes raises (3% for full-time faculty, 2% for classified staff in addition to $65 for each year up to 30 years[must be employed for at least five years] and 2% for adjunct faculty). 60% of these raises are funded by the General Assembly. CVCC is responsible for the other 40%. There is a possibility for a $7 per credit hour tuition increase but it is not definite, must be approved by the state board first. Opportunities to get M&O funds for new project/programs for 2015-16 are slim.
Local funds include money made from the bookstore contract, food services contract, student activity fees, and parking fees. Student activity fees can only be used to pay for student activities and parking fees can only be used for parking. The raised crosswalk that was recently installed was paid for by local funds. The new VCCS contract with Follett for the bookstore should bring a higher return than the previous contract with Barnes and Noble. There might be some local fund money available to fund appropriate requests.
Equipment Trust Fund (ETF) and Technology Fees – David Lightfoot
ETF funds are available for a year but are not reimbursed until the following year ($249,000). PCs are replaced on a four to five year cycle ($220,000), servers must be maintained ($35,000) leaving no money left in ETF. Wireless support, data ports also must be maintained. There is also a plan in place to replace projectors in classrooms across the College ($24,500).
There is about $72,000 available in Technology fee funds but required services to pay for include expiring warranty on the phone system and redesigning the CVCC website (estimated at $75,000). CVCC spends an average of $140 of Technology fees per employee. Technology fee funds are dependent upon student enrollment.
Foundation and Grants – Mike Bradford
Five of the top seven items on the budget prioritization list last year were paid from the Foundation and grants. The Foundation has its own assets and board.
Faculty and Staff Grants are up to $2,000 and last year help fund items related to the QEP, Biology, and Respiratory and are used to fund items that benefit students and the College. Jack Freeman uses the budget prioritization list to look for grants to help fund items.
There was no other business.
The budget prioritization list is the go to when funds become available to meet the needs of the College. Workforce does not submit budget request and Ruth Hendrick will explain more about Workforce funding during the next meeting.
The meeting was adjourned at 1:35pm.