12/31 ytd year over year ◦ financial highlights ◦ cash position ◦ cash flow revenues: ◦...

College of Marin12/31/13 YTD Financial

Report

2

12/31 YTD Year over Year ◦ Financial Highlights◦ Cash Position◦ Cash Flow

Revenues:◦ Budget vs. 12/31/13 YTD Actual Comparison◦ 12/31 Revenue Comparison◦ 12/31 YTD Year over Year Revenue Breakdown Comparison

Expenditures:◦ Budget vs. 12/31/13 YTD Actual Comparison◦ 12/31 YTD Expenditure Comparison◦ 12/31 YTD Year over Year Expenditure Breakdown

Comparisons

Supplemental Information

10/15/13

Overview

3

12/31/12 12/31/13

Revenues $ 25.4M $26.5M Expenses $ 23.1M $22.2M Net $ 2.3M $ 4.3M

Primary source of revenue is property tax which is received in December and April.

1/21/14

12/31 YTD Financial Highlights

4

12/31/12 12/31/13 Cash Balance $ 11.9M $13.1M Borrowing n/a n/a

Cash inflow is revenues - our major source, property taxes, received primarily in December and April.

Cash outflow is expenses – about $4.0M per month Borrowing provides operating cash until mid-

December when property taxes are received. Borrowing from county on an as-needed basis.

1/21/14

12/31 YTD Cash Position

5

June July AugSept Oct Nov Dec Jan Feb Mar Apr MayJune

$(10,000,000)

$(5,000,000)

$-

$5,000,000

$10,000,000

$15,000,000

$20,000,000

2012/132013/14

1/21/14

Yr/Yr Cash Flow

6




Comparisons


10/15/13

Overview

7

Prop

erty

Tax

es

Enro

llmen

t

Stat

eLo

cal

$-

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

$35,000,000

$40,000,000

$45,000,000

Budget

Actual YTD

Received 55% of secured property taxes projected by county

May not meet budget for enrollment fee revenue for 2013/14

84% of local revenue compared to budget; primarily non-resident tuition and one-time items

1/21/14

Budget vs. 12/31/13 YTD Actual Revenue

8

2011

/12

2012

/13

$-

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

$35,000,000

$40,000,000

$45,000,000

$50,000,000

Budget

Actual YTD

2012/13◦ $44.8M budgeted◦ $25.4M actual YTD◦ 56.7% of budget


YTD revenue primarily from property taxes and enrollment fees

1/21/14

12/31 YTD Revenue Comparison

9

Prop

erty

Tax

es

Enro

llmen

t

Stat

eLo

cal

$-

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

2012/13

2013/14

55% of secured property taxes projected by county received in December

Decline in enrollment fee revenue consistent with decline in FTES

Increase in State revenue due to Prop 30

Increase in local revenue due to one-time items

1/21/14

12/31 YTD Yr/Yr Revenue Breakdown

10




Comparisons


10/15/13

Overview

11

Facu

lty S

alar

ies

Class

ified

Salar

ies

Admin

istra

tive

Salar

ies

Benefi

ts

Fixe

d Exp

ense

s

Other

Oper

atin

g

Capita

l/Oth

er O

utgo

-

2,000,000

4,000,000

6,000,000

8,000,000

10,000,000

12,000,000

14,000,000

16,000,000

18,000,000

BudgetActual YTD

Salaries at 47.3% of budget compared to 50.8% last year

Benefit increase higher than planned for Kaiser – 15% vs. 12%

Delay in filling vacant positions helps reduce salary and benefit costs

Other expenditures on

track

1/21/14

Budget vs. 12/31/13 YTD Actual Expenses

12

2012/13 2013/14 $-

$10,000,000

$20,000,000

$30,000,000

$40,000,000

$50,000,000

$60,000,000

Budget

Actual YTD



Expenditures are incurred relatively evenly throughout the year

1/21/14

12/31 YTD Expenditure Comparison

13

Facu

lty S

alar

ies

Class

ified

Salar

ies

Admin

istra

tive

Salar

ies

Benefi

ts

Fixe

d Exp

ense

s

Other

Oper

atin

g

Capita

l/Oth

er O

utgo

-

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

8,000,000

9,000,000

2012/132013/14

92% of expenses are fixed:◦ 59% salaries◦ 27% benefits◦ 6% utilities,

insurance, audit, legal, election

8% of expenses are discretionary

1/21/14

12/31 YTD Yr/Yr Expenditure Breakdown

14




Comparisons


10/15/13

Overview

15

SUPPLEMENTAL INFORMATION

1/21/14

161/21/14

Statement of Sources and Uses

ADOPTION 12/31/12 YTD 12/31/12 % ADOPTION 12/31/13 YTD 12/31/13 % BUDGET ACTUAL BUDGET BUDGET ACTUAL BUDGET 2012-13 2012-13 2012-13 2013-14 2013-14 2013-14

SOURCES OF FUNDSBEGINNING FUND BALANCE $ 5,141,778 $ 5,141,778 $ 3,959,503 $ 3,959,503 REVENUES PROGRAM-BASED FUNDING 42,659,428 24,351,122 57.1% 44,307,028 25,136,108 56.7% FEDERAL 250 161 64.4% 1,000 - 0.0% OTHER STATE 868,731 226,719 26.1% 1,392,760 414,760 29.8% OTHER LOCAL 1,230,000 820,464 66.7% 1,102,972 929,392 84.3% TOTAL REVENUES 44,758,409 25,398,466 56.7% 46,803,760 26,480,260 56.6%

TOTAL SOURCES 49,900,187 30,540,244 50,763,263 30,439,763

USE OF FUNDSSALARIES 28,294,473 14,380,862 50.8% 27,993,676 13,240,790 47.3%BENEFITS 12,349,656 5,722,022 46.3% 12,632,638 5,771,346 45.7% TOTAL SALARIES & BENEFITS 40,644,129 20,102,884 49.5% 40,626,314 19,012,136 46.8%

FIXED EXPENSES 2,342,000 1,094,898 46.8% 2,439,230 934,803 38.3%OTHER OPERATING 3,153,979 1,412,438 44.8% 3,510,873 1,834,703 52.3%CAPITAL OUTLAY 226,287 146,252 64.6% 358,181 83,869 23.4%OTHER OUTGO 549,875 356,540 64.8% 711,130 333,444 46.9% TOTAL OTHER EXPENSES 6,272,141 3,010,128 48.0% 7,019,414 3,186,819 45.4%

TOTAL USES 46,916,270 23,113,012 49.3% 47,645,728 22,198,955 46.6%

ENDING FUND BALANCE $ 2,983,917 $ 7,427,232 $ 3,117,535 $ 8,240,808

171/21/14

Statement of Sources of Funds


PROGRAM-BASED FUNDINGSTATE SUBVENTIONS $ 268,463 $ 42,714 15.9% $ 265,241 $ 42,941 16.2%

TOTAL 268,463 42,714 15.9% 265,241 42,941 16.2%PROPERTY TAXES

SECURED 38,771,425 21,207,907 54.7% 39,960,865 22,052,223 55.2%SUPPLEMENTAL 415,000 88,918 21.4% 623,491 211,751 34.0%UNSECURED 904,540 795,414 87.9% 911,147 813,775 89.3%PRIOR-YEAR 40,000 46,489 116.2% 71,284 39,630 55.6%

TOTAL TAXES 40,130,965 22,138,728 55.2% 41,566,787 23,117,379 55.6%ENROLLMENT FEES 2,260,000 2,169,680 96.0% 2,475,000 1,975,788 79.8%

TOTAL PROGRAM-BASED 42,659,428 24,351,122 57.1% 44,307,028 25,136,108 56.7%FEDERAL REVENUE 250 161 64.4% 1,000 - 0.0%STATE REVENUE

PARTNERSHIP FOR EXCELL - - n/a - - n/aOTHER STATE 868,731 226,719 26.1% 1,392,760 414,760 29.8% TOTAL STATE 868,731 226,719 26.1% 1,392,760 414,760 29.8%

LOCAL REVENUEINTEREST 10,000 2,012 20.1% 3,000 943 31.4%NON-RESIDENCE FEES 850,000 637,015 74.9% 777,656 688,449 88.5%OTHER STUDENT CHARGES 75,000 28,060 37.4% 72,716 34,172 47.0%NON-RESIDENCE INSURANCE 55,000 39,008 70.9% 57,600 39,362 68.3%MISCELLANEOUS 240,000 114,369 47.7% 192,000 166,466 86.7%

1,230,000 820,464 66.7% 1,102,972 929,392 84.3%

TOTAL REVENUE $ 44,758,409 $ 25,398,466 56.7% $ 46,803,760 $26,480,260 56.6%

181/21/14

Statement of Uses of Funds

ADOPTION 12/31/12 YTD 12/31/12 % ADOPTION 12/31/13 YTD 12/31/13 % BUDGET ACTUAL BUDGET BUDGET ACTUAL BUDGET

2012-13 2012-13 2012-13 2013-14 2013-14 2013-14

USE OF FUNDSSALARIES $ 28,294,473 $ 14,380,862 50.8% $ 27,993,676 $13,240,790 47.3%BENEFITS 12,349,656 5,722,022 46.3% 12,632,638 5,771,346 45.7%TOTAL SALARIES & BENEFITS 40,644,129 20,102,884 49.5% 40,626,314 19,012,136 46.8%

FIXED EXPENSES 2,342,000 $ 1,094,898 46.8% 2,439,230 $ 934,803 38.3%OTHER OPERATING 3,153,979 1,412,438 44.8% 3,510,873 1,834,703 52.3%CAPITAL OUTLAY 226,287 146,252 64.6% 358,181 83,869 23.4%OTHER OUTGO 549,875 356,540 64.8% 711,130 333,444 46.9%TOTAL OTHER EXPENSES 6,272,141 3,010,128 48.0% 7,019,414 3,186,819 45.4%

TOTAL USES $ 46,916,270 $ 23,113,012 49.3% $ 47,645,728 $22,198,955 46.6%

191/21/14

Salary Analysis


SALARIES

FACULTYINSTRUCTORS-REGULAR $ 9,141,654 $ 4,121,034 45.1% $ 8,671,401 $ 3,367,056 38.8%INSTRUCTORS-HOURLY 5,076,713 3,424,371 67.5% 5,330,614 3,493,623 65.5%NON-INSTRUCTORS-REGULAR 1,294,731 553,804 42.8% 1,207,968 498,461 41.3%NON-INSTRUCTORS-HOURLY 412,594 392,836 95.2% 371,582 321,996 86.7%

FACULTY 15,925,692 8,492,045 53.3% 15,581,565 7,681,136 49.3%

CLASSIFIEDSTAFF - REGULAR 8,236,620 3,798,159 46.1% 8,015,554 3,647,046 45.5%INSTRUCTIONAL - REGULAR 1,056,162 489,940 46.4% 988,556 463,232 46.9%HOURLY INST./NON INST. 496,900 325,026 65.4% 834,831 336,482 40.3%OVERTIME 113,460 56,300 49.6% 145,485 60,953 41.9%

CLASSIFIED 9,903,142 4,669,425 47.2% 9,984,426 4,507,713 45.1%

ADMINISTRATORSACADEMIC 1,931,966 911,045 47.2% 1,595,142 704,879 44.2%CLASSIFIED 533,673 308,347 57.8% 832,543 347,062 41.7%

ADMINISTRATORS 2,465,639 1,219,392 49.5% 2,427,685 1,051,941 43.3%

TOTAL SALARIES $28,294,473 $14,380,862 50.8% $27,993,676 $ 13,240,790 47.3%

201/21/14

Benefit Analysis

ADOPTION 12/31/12 YTD 12/31/12 % ADOPTION 12/31/13 YTD 12/31/13 % BUDGET ACTUAL BUDGET BUDGET ACTUAL BUDGET

2012-13 2012-13 2012-13 2013-14 2013-14 2013-14

PUBLIC RETIREMENTSTRS $ 1,317,706 $ 700,729 53.2% $ 1,334,400 $ 618,715 46.4%PERS 1,922,148 900,792 46.9% 1,913,780 883,504 46.2%FICA 736,515 332,966 45.2% 732,786 336,991 46.0%MEDICARE 379,146 193,991 51.2% 405,910 186,847 46.0%UNEMPLOYMENT 452,324 170,898 37.8% 73,997 24,824 33.5%WORKERS COMP. INS. 350,851 179,692 51.2% 416,406 164,606 39.5%OTHER - SERP - 414,119 374,409 90.4%

TOTAL 5,158,690 2,479,068 48.1% 5,291,398 2,589,896 48.9%

HEALTH PROTECTIONMEDICAL 7,190,966 3,242,954 45.1% 7,341,240 3,181,450 43.3%

TOTAL 7,190,966 3,242,954 45.1% 7,341,240 3,181,450 43.3%

TOTAL BENEFITS $ 12,349,656 $ 5,722,022 46.3% $ 12,632,638 $ 5,771,346 45.7%

211/21/14

Fixed Expense Analysis

ADOPTION 12/31/12 YTD 12/31/12 % ADOPTION 12/31/13 YTD 12/31/13 %

BUDGET ACTUAL BUDGET BUDGET ACTUAL BUDGET 2012-13 2012-13 2012-13 2013-14 2013-14 2013-14

FIXED EXPENSES

UTILITIESSEWER SERVICE $ 80,000 $ 70,921 88.7% $ 98,230 $ 64,629 65.8%TELEPHONE 120,000 47,207 39.3% 108,000 47,059 43.6%WATER 126,000 77,133 61.2% 170,000 84,251 49.6%GAS & ELECTRICITY 1,516,000 475,519 31.4% 1,516,000 525,053 34.6%PEST CONTROL 80,000 27,258 34.1% 74,000 36,867 49.8%

1,922,000 698,038 36.3% 1,966,230 757,859 38.5%

INSURANCE 420,000 396,860 94.5% 473,000 176,944 37.4%

TOTAL $2,342,000 $ 1,094,898 46.8% $ 2,439,230 $ 934,803 38.3%

221/21/14

Other Operating Expense Analysis


OTHER OPERATING EXPENSESSUPPLIES & MATERIALS $ 579,318 $ 251,358 43.4% $ 600,900 $ 260,449 43.3%PERSONAL SVCE, LECTURE 84,166 31,605 37.6% 100,000 34,046 34.0%TRAVEL & CONFERENCE 125,475 69,483 55.4% 144,162 46,559 32.3%DUES & MEMBERSHIP 104,525 59,655 57.1% 100,000 80,912 80.9%LEGAL 150,000 120,828 80.6% 150,000 402,543 268.4%AUDITS & ELECTION 92,500 75,500 81.6% 301,750 78,750 26.1%CONTRACTED SERVICES 1,504,860 492,603 32.7% 1,302,977 730,564 56.1%POSTAGE 75,413 22,670 30.1% 90,000 38,011 42.2%PRINTING & PUBLICATION 95,055 39,370 41.4% 85,000 41,964 49.4%RENTAL & LEASES 41,378 10,295 24.9% 50,000 8,450 16.9%RECRUITMENT 154,110 76,344 49.5% 190,000 75,961 40.0%OTHER DISTRICT-WIDE EXP. 142,666 160,539 112.5% 388,334 34,278 8.8%

MISCELLANEOUS 4,513

2,188 48.5% 7,750 2,216 28.6%TOTAL $3,153,979 $ 1,412,438 44.8% $ 3,510,873 $ 1,834,703 52.3%

231/21/14

Capital Outlay AnalysisADOPTION 12/31/12 YTD 12/31/12 % ADOPTION 12/31/13 YTD 12/31/13 %BUDGET ACTUAL BUDGET BUDGET ACTUAL BUDGET2012-13 2012-13 2012-13 2013-14 2013-14 2013-14

CAPITAL OUTLAYLIBRARY BOOKS/PERIODICALS 51,712$ 38,028$ 73.5% 75,000$ 30,291$ 40.4%EQUIPMENT NEW & LEASED 174,575 108,224 62.0% 283,181 53,578 18.9%

TOTAL 226,287$ 146,252$ 64.6% 358,181$ 83,869$ 23.4%

OTHER OUTGOINTERFUND / INTRAFUND TRANSFERS:

INSTRUCT. SUPPORT-LAB SCHOOL 190,202$ 98,153$ 51.6% 173,000$ 80,626$ 46.6%CHILD CARE FUND 29,685 15,319 51.6% 62,908 29,318 46.6%DSPS - 78,500 n/a 171,928 80,000 46.5%PUENTE 102,265 51,133 54.0% 91,000 45,000 49.5%BFAP/FA 110,408 55,204 20.7% 110,408 52,000 47.1%STUDENT SUCCESS-CREDIT 45,658 22,829 67.7% 45,658 20,000 43.8%STUDENT SUCCESS-NONCREDIT 61,804 30,902 50.0% 27,834 13,000 46.7%SINGLE STOP 9,037 - n/a 27,347 13,000 47.5%MISCELLANEOUS 816 4,500 551.5% 1,047 500 47.8%

TOTAL 549,875$ 356,540$ 64.8% 711,130$ 333,444$ 46.9%

12/31 ytd year over year ◦ financial highlights ◦ cash position ◦ cash flow revenues: ◦...

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