Annual Budget Planning Committee meeting
Wednesday, April 26, 2017
11:00am, Room 5141
Members present: Abbey Parsons, Cindy Wallin, Cynthia Lofaso, David Lightfoot, Deborah Bauer, John Capps, Jim Lemons, Kimberly French, Kris Ogden, Lewis Bryant, Mike Bradford, Muriel Mickles, Patti Saffioti, Peter Dorman, Ron Parker, Susan Hogg, Tammy Johnson (for Michael Farris), Tim Rhoads
Review Goals and Objectives of the Committee
Kris called the meeting to order at 11:01am with a review of the timeline, the objectives of the committee, and the committee structure. Each member received two handouts with the meeting agenda, the Budget Request Prioritization Rubric, and list of funded/addressed and unfunded budget requests from 2016-17. Unfunded requests have been addressed through other means in the past years during this process. The budget request for 2017-18 (Fiscal Year 18) have already been received.
FY 18 Budget Outlook
Dr. Capps began by explaining that the Budget Planning committee is part of a vital process of broad-based decision making as part of the College Governance model. Dr. Capps continued that it looks like the budget cut for CVCC will be around 4.2% or around $400,000 but this does not negate the work of the committee, just a warning upfront. Dr. Capps added that Summer and Fall enrollment are currently up and the performance based funding for CVCC sounds positive but the results have not been released yet.
Foundation and Grants FY 18
Mike explained that the Foundation funds rest in basically two categories, money the Foundation already has and money that will need to be fundraised or acquired through grants. About 95% of the Foundations fund are designated for certain allocations, such as allocations for the machines in the machine shop. There is the Faculty/Staff grant program (up to $2,000) that has funded initiatives and equipment for Radiology, the Great Teacher program, an advising workshop, and QEP Marketing. The Foundation can also work with Equipment Trust Fund money as well when applicable and can only go before the Tobacco Commission one a year in March. Foundation funds are not instant and funding items can take a while.
Maintenance and Operations/Local Funds
Lewis described Local Funds stating that the College receives about $300,000 in Local Funds each year through student fees, meaning these funds are based on enrollment. Unlike State Funds, Local funds can be carried over from year to year.
Technology Fees/Equipment Trust Fund (ETF)
David stated that he has not received the amount for the ETF allocation for FY 18 yet. It appears that there is about $44,000 of ETF available for discretionary spending along with about $100,000 of Tech Fees.
Dr. Capps indicated that estimates for Workforce have exceeded expectations and Lewis agreed that Workforce has had a good year financially. Jim stated that the Workforce goals for FY 17 have been exceeded. Jim also said that they are looking to help advertise the entire college community to students that come in to take a Workforce class.
Process for 2017-18 (FY 18) Budget Prioritization
The Committee will receive an e-mail from Kris on April 27, 2017, with the Strategic Plan, list of budget requests with descriptions, funding sources and rubric. Grading of the budget requests is due back by Noon on Friday, May 5. Kris will also schedule a date for the follow up meeting to take place between May 8 and 10.
Kris reminded the committee that there is no guarantee that any budget request will be funded but to create a guiding document for if and when funds are available.
The meeting was adjourned at 11:37 am.