Details for SWOCC ADMINISTRATIVE SERVICES - Ad from 2019-06-06

101-PUBLIC NOTICES FORM CC-1 20347022 NOTICE OF BUDGET HEARING A public meeting of the Southwestern Oregon Community College Board of Education will be held on June 24, 2019 at 5:30 pm at 1988 Newmark Ave., Coos Bay, Oregon. The purpose of this meeting is to discuss the budget for the fiscal year beginning July 1, 2019 as approved by the Southwestern Oregon Community College Budget Committee. A summary of the budget is presented below. A copy of the budget may be inspected or obtained at 1988 Newmark Ave., Coos Bay, Dellwood Hall Room 16A between the hours of 8:00 a.m. and 5:00 p.m., or online at wwww.socc.edu/board. This Budget is for an annual budget period. This budget was prepared on a basis of accounting that is the same as the basis of accounting used during the preceding year. Telephone: 541-888-7408 Contact: Kathy Dixon TOTAL OF ALL FUNDS Beginning Fund Balance Current Year Property Taxes, other than Local Option Taxes Tuition and Fees Other Revenue from Local Sources Revenue from State Sources Revenue from Federal Sources Interfund Transfers All Other Budget Resources Total Resources Personnel Services Materials & Services Financial Aid Capital Outlay Debt Service Interfund Transfers Unappropriated Ending Fund Balance & Reserves Total Requirements FINANCIAL SUMMARY - RESOURCES Actual Amount Last Year 2017-2018 $13,434,956 $5,667,348 $8,041,621 $300,304 $10,404,338 $9,202,400 $2,615,298 $9,968,182 $59,634,447 Email: kathy.dixon@socc.edu Adopted Budget This Year 2018-2019 $9,429,033 $5,745,786 $9,027,155 $195,704 $17,249,808 $11,721,238 $3,207,472 $14,477,190 $71,053,386 FINANCIAL SUMMARY - REQUIREMENTS BY OBJECT CLASSIFICATION $20,053,700 $9,065,646 $8,106,069 $1,354,463 $9,930,494 $2,615,298 $8,508,777 $59,634,447 Approved Budget Next Year 2019-2020 $9,357,338 $5,883,566 $9,217,481 $194,578 $25,058,388 $13,797,353 $4,759,713 $33,622,759 $101,891,176 $22,810,249 $12,141,773 $10,000,000 $12,227,278 $7,576,614 $3,207,472 $3,090,000 $71,053,386 $22,246,389 $13,093,568 $10,084,000 $40,516,771 $8,000,735 $4,759,713 $3,190,000 $101,891,176 FINANCIAL SUMMARY - REQUIREMENTS AND FULL-TIME EQUIVALENT EMPLOYEES (FTE) BY FUNCTION Instruction $8,155,580 $7,170,719 FTE 94.15 103.63 Instructional Support $2,669,489 $1,759,602 FTE 24.99 17.19 Student Services other than Student Loans and Financial Aid $7,977,648 $8,283,851 FTE 76.12 81.11 Student Loans and Financial Aid $8,106,069 $10,094,000 FTE 4.45 4.52 Community Services $2,021,312 $2,973,253 FTE 25.18 24.46 Support Serv. other than Facilities Acquisition and Construction $7,972,683 $14,717,875 FTE 54.08 69.3 Facilities Acquisition and Construction $1,677,098 $12,180,000 FTE 0 0.78 Interfund Transfers $2,615,297 $3,207,472 Debt Service $9,930,494 $7,576,614 Unappropriated Ending Fund Balance and Reserves $8,508,777 $3,090,000 Total Requirements $59,634,447 $71,053,386 Total FTE 278.97 300.99 $6,654,448 89.76 $1,859,367 17.47 $8,475,056 82.18 $10,084,000 4.52 $2,881,356 20.87 $20,959,980 61.87 $35,026,521 0.18 $4,759,713 $8,000,735 $3,190,000 $101,891,176 276.85 STATEMENT OF CHANGES IN ACTIVITIES and SOURCES OF FINANCING * Revenues from the State are anticipated to remain flat resulting in a $1.8 million gap due to increases in PERS rates, contract obligations, and declining enrollments. To bridge the gap SWOCC chose to unfill some open positions, reorganize the College's structure which meant eliminating 5.5 positions and increasing tuition and fees 4%. To mitigate enrollment numbers SWOCC broke ground spring of 2019 on the health and science technology building with the state-of-the-art classrooms the College is hopeful to increase enrollment. The Family Center will be piloting Baby Promise a grant of over $1 million to assist with the daycare shortage in the area. In addition the College has contracted for deferred maintenance upgrades that will generate utility savings, which in turn will fund the project costs. Permanent Rate Levy (Rate Limit 0.7017 per $1,000) LONG TERM DEBT Other Bonds Other Borrowings Total PROPERTY TAX LEVIES Rate or Amount Imposed Last Year 2017-2018 0.7017 STATEMENT OF INDEBTEDNESS Estimated Debt Outstanding July 1 $44,174,985 $44,174,985 Rate or Amount Imposed This Year 2018-2019 0.7017 Rate or Amount Approved Next Year 2019-2020 0.7017 Estimated Debt Authorized, But Not Incurred July 1 $3,500,000 $3,500,000 Published: June 06, 2019 The World & ONPA (ID-20347022)

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