BALTIMORE CITY COMMUNITY COLLEGE

Board of Trustees
Finance Committee
Open Session Meeting
Tuesday, February 26, 2013
3 PM
Business and Continuing
Education Division
Corporate Training Room #30
BALTIMORE CITY COMMUNITY COLLEGE
BOARD OF TRUSTEES
FINANCE COMMITTEE MEMBERS
Dr. Donald Gabriel, Chair
Dr. Mary Owens Southall
Dr. Rosemary Gillett-Karam
Ms. Maria Harris Tildon
TAB 1
BALTIMORE CITY COMMUNITY COLLEGE
BOARD OF TRUSTEES
FINANCE COMMITTEE
UNAPPROVED
OPEN SESSION AGENDA
Tuesday, February 26, 2013, at 3 PM
Business and Continuing Education Division (BCED)
Corporate Training Room #30
Call to Order (Chair, Donald Gabriel)
I. MEETING ACTIONS
A. Approval of February 26, 2013 Agenda (Trustee Gabriel) .................
Move to approve the February 26, 2013 Agenda
TAB 1
(Action)
B. Approval of June 26, 2012 Minutes (Trustee Gabriel) ........................
Move to approve the June 26, 2012 Minutes
TAB 2
(Action)
II. REPORT
A. Vice President’s Message ..................................................................
(Ms. Susan Niehoff, vice president of Business & Finance). .............
TAB 3
(Information)
III. NEW BUSINESS
A. BCCC 2nd Quarter YTD Financial Statements and Fund Balance. .....
(Ms. Susan Niehoff, vice president of Business & Finance)..............
TAB 4
(Information)
B. Bookstore 2nd Quarter YTD Financial Statements ..............................
(Ms. Susan Niehoff, vice president of Business & Finance)..............
TAB 5
(Information)
C. WBJC 2nd Quarter YTD Financial Statements ... ................................
(Ms. Susan Niehoff, vice president of Business & Finance)..............
TAB 6
(Information)
D. WBJC Fund Allocation Policy... ..........................................................
(Ms. Susan Niehoff, vice president of Business & Finance)..............
TAB 7
(Action)
E. Mid-Year Budget Realignment ...........................................................
(Ms. Susan Niehoff, vice president of Business & Finance)..............
TAB 8
(Action)
F. FY 2013 Tuition and Fee Recommendation... ....................................
(Ms. Susan Niehoff, vice president of Business & Finance)..............
TAB 9
(Action)
IV. NEXT MEETING Tuesday, May 28, 2013, at 3 PM
Harbor Campus - BCED Corporate Training Room #30
V. ADJOURNMENT (Trustee Gabriel)
Action: Move to adjourn open session
FY 2012 FINANCE COMMITTEE PRESENTATION CALENDAR
No.
1
Description
Finance Committee:
BCCC, Bookstore & WBJC 1st Quarter YTD Financial
Statements:
Quarterly presentation of financial statements and the statements
of revenues & expenditures compared to budget
Status
Information
Division
BF
Target
Date
November
2
Finance Committee:
 Mid-Year Budget Realignment:
Mid-year presentation of Budget forecast including trend
data, full year projections, and recommended
realignments based on needs, spending patterns and
State budget reductions
Quarterly presentation of financial statements and the
statements of revenues & expenditures compared to
budget
 Tuition and Fee Analysis:
Annual presentation of proposed tuition and fee levels for
next fiscal year
 WBJC Fund Allocation Policy
Annual review of the WBJC Fund Allocation Policy
Action
BF
February
3
Finance Committee:
 Operating Budget Request Overview:
Annual presentation of operating budget request
 Capital Budget Request Overview:
Annual presentation of the capital budget request
Action
BF
May
4
Finance Committee:
rd
BCCC, Bookstore & WBJC 3 Quarter YTD Financial
Statements:
Quarterly presentation of financial statements and the statements
of revenues & expenditures compared to budget
Information
BF
June
Note: The audits below are presented to the Audit Committee (Board as a whole)
No.
1
2
Description
Audit Committee:
 Annual Audit:
Annual presentation audited financial statements by SB &
Co., LLC (for BCCC including WBJC and the Bookstore)
 Foundation Audit:
Annual presentation of audited financial statements by
Clifton Gunderson, LLP for BCCC Foundation
Audit Committee:
Legislative Audit:
Presentation of State Legislative Audit
Status
Information
Division
BF
Information
IA
Information
BF
Target
Date
November
Every 3
Years
O:\Private\Board of Trustees\Finance Committee\Open Sessions\FY12\2.28.12\1 2.28.12 AGENDA.doc
2
TAB 2
BALTIMORE CITY COMMUNITY COLLEGE
BOARD OF TRUSTEES
FINANCE COMMITTEE MEETING
UNAPPROVED OPEN SESSION MINUTES
Tuesday, June 26, 2012, 3:04 p.m.
Life Sciences Institute at University of Maryland BioPark
Trustees: Dr. Donald Gabriel, Dr. Rosemary Gillett-Karam, Dr. Mary
Owens Southall, Dr. Gary Rodwell, and Ms. Maria Harris
Tildon
Staff:
Dr. Carolane Williams, Mr. Lucious Anderson, Mr. Cedric
Grant, Dr. Alicia Harvey-Smith, Mr. Joe Hutchins, Ms. Nikita
Lemon, Ms. Tina Mosley Ms. Susan Niehoff, Dr. Kathleen
Norris, Ms. Kathy Odell, Ms. Kathy Styles, Ms. Brenda Wiley,
Mr. David Ward, and Mr. Andre Williams
Trustee Gabriel called the June 26, 2012, Finance Committee meeting to
order. Actions to approve the agenda and minutes were postponed until
after item III due to lack of quorum.
I.
Meeting Actions
The Finance Committee unanimously voted to approve the following:
 June 26, 2012, Agenda
 May 22, 2012, Minutes
II.
Vice President’s Report
Ms. Susan Niehoff, Vice President of Business and Finance, provided an
update on the budget, audit and the facilities on campus. VP Niehoff
stated that a $4 million reversion from the fund balance occurred in June;
timelines have been established to ensure timely submission of financial
statements; and an interim director of Facilities was hired to address
campus-wide projects.
Trustee Donald Gabriel asked if there are any foreseeable reasons that
the College will not meet the audit deadlines. VP Niehoff responded no.
The auditors are confident that the College will meet the deadline as well.
Trustee Gabriel complimented the staff on the improvements to the
physical appearance of the College and asked if any major repairs are
needed in any of the buildings. VP Niehoff replied that the roof of the
Nursing Building and the HVAC system at the Liberty West Pavilion are in
need of repairs and will be made.
*Please see the June 26, 2012, Finance Committee Book for the full
report.
III.
New Business
BCCC 3rd Quarter YTD Financial Statements
VP Niehoff stated that revenue has decreased by $10.2 million compared
to the same period last year, and expenses have decreased by $8.7
Page 1 of 2
million due to the Bon Secours acquisition and grant fund expenditures.
However, salaries and fringe are up due to the College actively filling
vacant positions. She added that $6 million has been reserved for the new
ERP System and $4.9 million for capital projects. Both will be expended
in FY13.
Trustee Gillett-Karam asked if the legislature will allocate the College’s
new funds for the next two years. Dr. Williams explained that the College’s
budget is based on enrollment data from two years prior, so the funds
received in fiscal year 2013 are based on the fiscal year 2011 FTEs.
*Please see the June 26, 2012, Finance Committee Book for the full
report.
Bookstore 3rd Quarter YTD Financial Statements
VP Niehoff stated that the Bookstore remains in great financial shape.
Textbook, supplies, and clothing sales have increased since March 2011.
The Bookstore manager and staff are doing a great job with inventory and
sales.
Trustee Gabriel asked if the Bookstore is experiencing variances in
textbook sales due to pricing, and are instructors utilizing textbooks for
multiple semesters. VP Niehoff stated that textbooks sales are consistent.
The bookstore manager is currently researching the benefit of book rental
services for possible implementation in the near future. However, she is
not sure if instructors are using textbooks for multiple semesters.
*Please see the June 26, 2012, Finance Committee Book for the full
report.
WBJC 3rd Quarter YTD Financial Statements
VP Niehoff stated that although there has been a decrease in revenue due
to a decline in memberships and underwriting, WBJC remains financially
sound. Expenditures have also decreased, resulting in a net revenue
increase of approximately $32,000. The fund balance transfer reflects the
final tower upgrade expenditure for the radio station.
*Please see the June 26, 2012, Finance Committee Book for the full
report.
IV.
Next Meeting:
November 27, 2012, 3 p.m.
Liberty Campus - Mini Conference Center
V.
Adjournment
Trustee Donald Gabriel adjourned the Finance Committee meeting at 3:55
p.m. to go into the open Board of Trustees meeting.
Recorder of the June 26, 2012, Finance Committee minutes: Terri Bell
BACK TO TOP
Page 2 of 2
TAB 3
Finance Committee
Tab 3 – Information
February 26, 2013
Executive Summary
Vice President Susan Niehoff
Business & Finance
Business and Finance has been very busy since the last Finance Committee
meeting and closeout of a successful FY12 audit in the fall of 2012. The FY13
budget realignment and FY14 budget preparations have been keeping the
College community busy. In addition, the Maryland State Legislature recently
held their FY14 annual Operating Budget hearings which focused on the needs
of the upcoming fiscal year.
Business and Finance is now almost at full-staff having hired a controller, Sabina
Silkworth, a director of Public Safety, Randolph Merced, and a director of
Facilities-Operations, Kevin Seawright. The Division, which includes Auxiliary
Services, Budgets & Grants, Facilities/Capital Planning, Financial Services,
Procurement and Public Safety, has been actively filling vacant positions to
ensure adequate oversight of the physical and financial assets of the College.
Financial Overview
Highlights of the first six months of FY13 are as follows:
1. General operations net income as of December 31, 2012 is $ 2,151,716.
2. The Bookstore and WBJC have increased their respective revenues over
expenditures from the prior year.
3. Fund balance as of July 2, 2012 was $32,276,164 of which $772,352 was
available for allocation.
BACK TO TOP
TAB 4
Finance Committee
Tab 4 - Information
February 26, 2013
FINANCIAL OVERVIEW
Listed below is an overview of the 2nd quarter financials for Baltimore City Community
College.
The overview highlights major variances that results in an increase or
decrease in revenue and/or expenditures. Included in this report are the financial
statements for the College, WBJC-FM Radio, and the Bookstore. Each report provides
a financial snapshot comparing budget to actual as of December 31, 2012.
COLLEGE
Full Year
Budget
FY13
Revenue
Expenses
$ 102,868,616
102,868,616
Actual
12/31/12
$
43,826,100
41,674,384
Budget to
Actual %
42.6%
40.6%
The financial statements measure the performance of Baltimore City Community
College during the second quarter of FY13, summarizing restricted and unrestricted
revenues and expenditures. The six month actual is compared to the full-year budget to
determine the percent of revenues received and expenses incurred during the period
under review.
Revenue: Major variances from budget are primarily due to the following:
1) Other income – Received entire annual appropriation from Baltimore City. (Line
5)
Expenses: Major variances from budget are primarily due to the follow:
1) Equipment – Replacement –The College purchased several replacement
computers in FY13. (Line 24)
2) Travel/Professional Development – Increase in travel by the Office of Student
Affairs. (Line 19)
BALTIMORE CITY COMMUNITY COLLEGE
YEAR TO DATE OPERATING REPORT
FOR SIX MONTHS ENDING December 31, 2012 (Fiscal Year 2013)
ENDING December 31, 2012
FY 13
Y-T-D
ACTUALS
1
2
3
4
5
6
7
8
9
UNRESTRICTED REVENUES
10
Total Unrestricted Revenue
Tuition and Fees
State Appropriation
Sales, Service Auxiliary & Leasing Revenue
Other Income
Investment Income
Fund Balance Transfer
Unrestricted Revenues - Excluding Bookstore
Unrestricted Revenue - Bookstore
$
FY 13
FULL YEAR
BUDGET
PERCENT
Actual
To Budget
9,058,879
20,282,350
998,075
877,116
178,650
31,395,071
1,738,217
$ 17,549,727
38,792,228
2,203,556
1,267,109
500,000
10,957,000
71,269,620
4,000,000
51.6%
52.3%
45.3%
69.2%
35.7%
0.0%
44.1%
43.5%
33,133,288
75,269,620
44.0%
796,146
9,896,666
1,495,000
26,103,996
53.3%
37.9%
10,692,813
27,598,996
38.7%
$ 43,826,100
$ 102,868,616
42.6%
RESTRICTED REVENUES
11
12
Public Service - WBJC
Grants, Subsidies & Contributions
13
Total Restricted Revenue
14
Total Revenues
Note A:
These financial statements are based on governmental accounting principles which include encumbrances.
Note B:
The quarterly Bookstore financial statements are based on "for profit" accounting which reports inventory
disbursements as an asset rather than an expenditure. Inventory is reported as an expense only for those goods
C:\Users\cgrant\Documents\Finance Committee Material 2013\[Financial Statements-Presentation View 2nd Qtr FY13.xlsx]December, 2012
BALTIMORE CITY COMMUNITY COLLEGE
YEAR TO DATE OPERATING REPORT
FOR SIX MONTHS ENDING December 31, 2012 (Fiscal Year 2013)
ENDING December 31, 2012
FY 13
Y-T-D
ACTUALS
15
16
17
18
19
20
21
22
23
24
25
26
27
28
UNRESTRICTED EXPENDITURES
29
30
Total Unrestricted Expenditures excluding Bookstore
Unrestricted Expenditures - Bookstore
31
Total Unrestricted Expenditures
32
33
34
35
36
37
38
39
40
41
42
43
44
45
RESTRICTED EXPENDITURES
1,383,655
Permanent (PIN) Salaries & Fringe
Contractual Employee Salaries & Fringe
Communications
Travel / Professional Development
Utilities
Motor Vehicle Operation & Main.
Contractual Vendors
Supplies and Materials
Equipment - Replacement
Equipment - Additional
Fin. Aid, Scholarships, Tuition Waivers
Leases, Dues & Subscriptions
Buildings Maintenance & Repairs
623,105
1,045,924
1,476
25,102
466,448
82,037
126
24,371
7,628,076
-
46
47
Total Grant/Contract Restricted Expenditures
48
Total Restricted Expenditures
Permanent (PIN) Salaries & Fringe
Contractual Employee Salaries & Fringe
Communications
Travel / Professional Development
Utilities
Motor Vehicle Operation & Main.
Contractual Vendors
Supplies and Materials
Equipment - Replacement
Equipment - Additional
Fin. Aid, Scholarships, Tuition Waivers
Leases, Dues & Subscriptions
Buildings Maintenance & Repairs
$ 15,926,599
5,099,670
128,885
327,110
635,333
10,203
PERCENT
Actual
To Budget
35,242,686
10,680,978
528,069
451,442
1,658,692
101,070
4,386,729
1,389,932
319,415
6,659,871
385,770
3,035,268
6,429,698
45.2%
47.7%
24.4%
72.5%
38.3%
10.1%
46.5%
44.2%
81.8%
2.8%
40.8%
47.9%
7.4%
27,316,453
3,886,940
71,269,620
4,000,000
38.3%
97.2%
31,203,393
75,269,620
41.5%
1,695,200
2,770,420
4,141
107,473
240,557
275,030
764,792
20,241,506
4,877
-
36.8%
37.8%
35.6%
23.4%
0.0%
0.0%
193.9%
29.8%
0.0%
3.2%
37.7%
0.0%
0.0%
9,896,666
574,325
26,103,996
1,495,000
37.9%
38.4%
10,470,991
27,598,996
37.9%
$ 41,674,384
$ 102,868,616
40.5%
2,039,877
614,302
261,441
186,835
157,226
1,454,771
474,202
WBJC - Restricted Expenditures
FY 13
FULL YEAR
BUDGET
#
#
#
#
#
#
#
#
#
#
#
#
#
#
#
#
#
#
#
#
#
#
#
#
#
#
encumbrances
49
TOTAL EXPENDITURES
Finance Committee
Tab 4 - Information
February 26, 2013
THIRD QUARTER FY 2013 FUND BALANCE REPORT
Fund balance, also known
assets and liabilities. Fund
and transfers to and from
balance and expenses and
as net assets, is the difference between the College’s total
balance is increased and decreased by revenues, expenses,
fund balance. Revenues and fund additions increase fund
fund deductions decrease fund balance.
The College’s fund balance is the result of revenues exceeding expenditures from
ongoing operations over time. The Board of Trustees has the authority to approve fund
balance expenditure requests.
Attached is an analysis of the College’s fund balance as of July 1, 2012. This schedule
presents the unrestricted fund balance at the beginning of FY13 at $32,276,164.
Restrictions against fund balance include $1,485,622 for WBJC, $724,502 for
scholarships and $1,722,105 for Auxiliary Services. Designated reserves against fund
balance include the ERP system and various capital improvement projects totaling
$23,706,612. The total funds available for allocation are $772,352.
N:\Administration\V.P. of Administration\Dept Priv ate\Board of Trustees\Finance Committee\Open Sessions\FY 13\February 28, 2013\4 Fund Balance
2nd Quarter FY 2013 Report.docx
BALTIMORE CITY COMMUNITY COLLEGE
FUND BALANCE OVERVIEW
As of July 1, 2012 (Fiscal Year 2013)
Amount
Fund Balance Overview:
1 FY 2013 Beginning Fund Balance (2012 Audited Financial Statements)
2
3
4
5
6
Fund Balance Restrictions:
WBJC Fund Balance Reserve
Facilities Capital Fee (Supports Debt Repayment For Real Estate Endeavors)
Local Appropriation for Scholarships
Non State Aid (Auxilliary Services)
7
Unrestricted Fund Balance as of July 1, 2012
8
9
10
11
12
General Fund Balance Reserves:
ERP System
Capital Improvements and Facility Master Plan Projects
General building repairs -CIBS building
Real estate Reserves
$
1,485,622
1,106,159
724,502
1,722,105
5,038,388
27,237,776
(14,749,612)
(4,957,000)
(500,000)
(3,000,000)
13 Total General Fund Balance Reserves
14
15
16
17
(23,706,612)
FY 2012 Encumbrances and planned General Fund Transfers
FY 2012 Encumbrances
General Fund Transfers
Total Encumbrances and planned General Fund Transfers
18 Fund Balance Available for Allocation
32,276,164
(2,758,812)
(2,758,812)
$
772,352
$10.957M is approved for drawdown from fund balance FY2013
($6M for ERP and $4.957M for Capital Projects)
BACK TO TOP
TAB 5
Finance Committee
Tab 5 - Information
February 26, 2013
BOOKSTORE
Full Year
Budget
FY13
Revenue
Expenses
$
4,000,000
4,000,000
Actual
12/31/12
$
1,738,838
1,626,551
Budget to
Actual %
43.5%
40.7%
The financial statements measure the performance of the Bookstore operations at
Baltimore City Community College during the second quarter of FY13. The six month
actual is compared to the full-year budget to determine the percent of revenues
received and expenses incurred during the period under review.
Revenue: Overall, revenue is slightly down due to lower enrollment.
cyclical as most is earned in the first quarter.
Revenue is
Expenses: Major variances from budget are primarily due to the following:
1) Supplies and Materials – Expenses are also cyclical and increased due to
stocking the store with operating supplies to coincide with the larger sales at
the beginning of the school year.
BALTIMORE CITY COMMUNITY COLLEGE
BOOKSTORE - YEAR TO DATE OPERATING REPORT
FOR THE SIX MONTHS ENDING DECEMBER 31, 2012 (Fiscal Year 2013)
ENDING DECEMBER 31, 2012
FY 13
Y-T-D
ACTUALS
1
2
3
4
5
6
7
8
9
Sales:
New Textbooks
Used Textbooks
Trade Books
Supplies
Clothing
Gifts
Commissions
Sundries
10
Total Sales
ACTUALS
AS A
% OF
SALES
FY 13
FULL YEAR
BUDGET
ACTUALS
AS A
% OF
BUDGET
$1,350,236
35,477
11,120
227,040
42,040
2,460
35
70,429
78%
2%
1%
13%
2%
0%
0%
4%
$2,975,000
100,000
45,000
550,000
140,000
5,000
5,000
180,000
45%
35%
25%
41%
30%
49%
1%
39%
$1,738,838
100%
$4,000,000
43%
11
12
13
Cost of Sales:
Beginning Inventory
Plus: Purchases
697,001
1,463,854
700,000
3,411,520
14
15
Cost of Goods Available
Less: Ending Inventory
2,160,855
$792,137
4,111,520
900,000
16
Cost of Goods Sold
1,368,718
79%
3,211,520
43%
17
Gross Margin
$370,120
21%
$788,480
47%
ENDING DECEMBER 31, 2012
FY 13
Y-T-D
ACTUALS
1
2
3
4
5
6
7
8
9
10
11
12
13
Operating Expenditures:
Salaries and Wages
Communications
Travel\Professional Development
Contractual Vendors
Supplies and Materials
Equipment
Depreciation
Indirect Admin Allowance
Fixed Charges
Inventory Write-Off
Total Operating Exp.
Operating Income/(Loss)
ACTUALS
AS A
% OF
SALES
FY 13
FULL YEAR
BUDGET
ACTUALS
AS A
% OF
BUDGET
$122,421
0
0
27,106
5,387
0
0
100,000
2,920
0
7%
0%
0%
2%
0%
0%
0%
6%
0%
$313,430
50
0
65,000
10,000
0
0
200,000
0
0
39%
0%
0%
42%
54%
0%
0%
50%
0%
0%
257,833
15%
588,480
44%
$112,287
6%
$200,000
56%
BACK TO TOP
TAB 6
Finance Committee
Tab 6 - Information
February 26, 2013
WBJC – Radio Station
Full Year
Budget
FY13
Revenue
Expenses
$ 1,495,000
1,495,000
Actual
12/31/13
$
796,146
574,325
Budget to
Actual %
53.3%
38.4%
The financial statements measure the performance of the WBJC Radio Station at
Baltimore City Community College during the second quarter of FY13. The quarterly
actual is compared to the full-year budget to determine the percent of revenues
received and expenses incurred during the period under review.
Revenue: Overall, revenue is up from this time last year.
1) Donations – Revenue is up due to receipt of a bequest. (Line 4)
2) Other Grants – A digital grant was received from Corporate Public
Broadcasting. (Line 8)
Expenses: Overall, expenses are down slightly.
primarily due to the following:
Major variances from budget are
1) Utilities - Expenses are up due to the loss of the negotiated rate with the utility
company, Direct Energy. This correction is still pending. (Line 15)
2) Equipment – Expenses are down because new equipment is yet to be
purchased in FY13. (Line 18)
BALTIMORE CITY COMMUNITY COLLEGE
WBJC RADIO STATION
YEAR TO DATE OPERATING REPORT
FOR THE SIX MONTHS ENDING DECEMBER 31, 2012 (Fiscal Year 2013)
ENDING DECEMBER 31, 2012
FY 13
Y-T-D
ACTUALS
FY 13
FULL YEAR
BUDGET
PERCENT
Actual
1 REVENUES
2
3
4
5
6
7
8
9
Underwriting
Memberships
Donations
Matching Funds
Miscellaneous Revenue
Community Service Grant
Other Grants
Fund Balance Transfer
10 TOTAL REVENUE
$
77,924
445,472
91,725
535
96,440
84,050
-
$
285,000
1,000,000
6,000
4,000
10,000
152,000
38,000
-
27.3%
44.5%
1528.8%
13.4%
0.0%
63.4%
221.2%
0.0%
$
796,146
$
1,495,000
53.3%
$
415,793
10,818
3,036
24,338
55,935
19,762
$
822,512
48,000
22,000
45,488
171,000
54,000
45,000
80,000
80,000
127,000
-
50.6%
22.5%
13.8%
53.5%
32.7%
36.6%
0.0%
0.8%
47.5%
4.7%
0.0%
$
1,495,000
38.4%
11 EXPENDITURES
12
13
14
15
16
17
18
19
20
21
22
Permanent (PIN) Salaries & Fringe
Communications
Travel / Professional Development
Utilities
Contractual Vendors
Supplies and Materials
Equipment - Replacement and Structures
Equipment - Additional
Leases, Dues & Subscriptions
Stipend
Building Maintenance & Repairs
23 TOTAL EXPENDITURES
615
38,028
6,000
$
574,324
BACK TO TOP
TAB 7
Baltimore City Community College
WBJC Trend Analysis
Current Fund Allocation - 3.0% escalation rate (Approved 2/12)
Actuals
Actuals
Actuals
2009
2010
2011
Actuals
2012
Projection
Projection
Projection
2013
2014
2015
Operating revenues:
.
Subscription and membership income
Other Income
Donated facilities and administrative support from BCCC
Total operating revenues
987,636
294,164
282,840
1,004,665
246,659
222,877
952,411
258,874
172,204
991,256
238,955
196,342
1,001,169
241,345
198,305
1,011,180
243,758
200,288
1,021,292
246,196
202,291
1,564,640
1,474,201
1,383,489
1,426,553
1,440,819
1,455,227
1,469,779
373,995
221,198
102,412
697,605
389,469
227,216
51,662
668,347
399,951
257,719
1,553
659,223
419,660
263,113
7,999
690,772
421,758
264,429
8,079
694,266
423,867
265,751
8,281
697,899
425,986
267,079
8,364
701,430
Operating expenses:
Program services:
Programming and production
Broadcasting
Program information
Total program services
Support services:
Management and General
Fundraising
Donated facilities and administrative support from BCCC
Total support services
Total operating expenses
Operating Income (Loss)
Non-operating revenues (expenses):
Community Service Grant from Corporation for Public Broadcasting
Unrealized gain on investments
Other Grants
Transfer to Baltimore City Community College (3%)
Change in net assets
296,312
284,517
282,840
863,669
1,561,274
3,366
362,551 1,352,317
288,946
271,193
255,247
289,144
222,877
172,204
196,342
856,621 1,779,768
774,432
1,524,968 2,438,991 1,465,204
(50,767) (1,055,502)
(38,651)
152,670
35,358
(190,000)
1,394
171,273
159,720
7,281
37,725
38,606
(194,750)
(200,593)
(36,519) (1,050,488)
156,947
(49)
42,500
(103,305)
57,442
291,835
293,295
292,035
293,496
198,305
200,288
782,176
787,079
1,476,442 1,484,977
(35,624)
(29,751)
160,000
38,500
(163,846)
(970)
160,000
38,500
(168,762)
(12)
294,761
294,963
202,291
792,016
1,493,445
(23,666)
160,000
38,500
(173,824)
1,009
Notes:
Current Fund Allocation updated to reflect FY 2012 actuals and revised FY 2013 projection
A deficit occurred in FY 2011 as a result of $1.07 million in expenditures for the project
Fund balance transfers of $103,305 in 2012 was based on actual increase in assets as of June 30, 2012.
BACK TO TOP
Finance Committee
Tab 7 - Action
February 26, 2013
WBJC FUND ALLOCATION POLICY
The WBJC Fund Allocation Policy was approved by the Finance Committee and
the full Board on February 28, 2012. The following transactions were approved
to occur annually:
1. The transfer from WBCJ’s fund balance to BCCC will be based on an
annual escalation of 2.5% beginning in FY2010 and 3% commencing in
FY2011.
2. A 1.0% revenue inflation factor will be applied annually.
Fiscal Impact:
An analysis of the impact of the current WBJC Fund Allocation Policy reflects a
minimal change in net assets in FY2013 and FY2014. The FY2013 change in
net assets is impacted by the transfer to Baltimore City Community College of
3% based on FY2012 actuals. WBJC revenues continue to be impacted by the
downturn in the economy and the loss of corporate sponsors. WBJC has
continued to seek additional revenue streams including expanding membership
drives to replace declining underwriting and advertising revenue.
Recommendation:
The President recommends the following transactions occur annually:
1. The FY2012 transfer from WBJC’s fund balance to BCCC will be based on
a growth rate of 3.0% annually.
2. A 1.0% revenue inflation factor will be applied annually.
O:\Private\Board of Trustees\Finance Committee\Closed Sessions\FY08C\2.26.08 Closed Session\3a WBJC Fund Allocation Policy Review rev 2-26-08.docx
Baltimore City Community College
WBJC Trend Analysis
Current Fund Allocation - 3.0% escalation rate (Approved 2/12)
Actuals
Actuals
Actuals
2009
2010
2011
Actuals
2012
Projection
Projection
Projection
2013
2014
2015
Operating revenues:
.
Subscription and membership income
Other Income
Donated facilities and administrative support from BCCC
Total operating revenues
987,636
294,164
282,840
1,004,665
246,659
222,877
952,411
258,874
172,204
991,256
238,955
196,342
1,001,169
241,345
198,305
1,011,180
243,758
200,288
1,021,292
246,196
202,291
1,564,640
1,474,201
1,383,489
1,426,553
1,440,819
1,455,227
1,469,779
373,995
221,198
102,412
697,605
389,469
227,216
51,662
668,347
399,951
257,719
1,553
659,223
419,660
263,113
7,999
690,772
421,758
264,429
8,079
694,266
423,867
265,751
8,281
697,899
425,986
267,079
8,364
701,430
Operating expenses:
Program services:
Programming and production
Broadcasting
Program information
Total program services
Support services:
Management and General
Fundraising
Donated facilities and administrative support from BCCC
Total support services
Total operating expenses
Operating Income (Loss)
Non-operating revenues (expenses):
Community Service Grant from Corporation for Public Broadcasting
Unrealized gain on investments
Other Grants
Transfer to Baltimore City Community College (3%)
Change in net assets
296,312
284,517
282,840
863,669
1,561,274
3,366
362,551 1,352,317
288,946
271,193
255,247
289,144
222,877
172,204
196,342
856,621 1,779,768
774,432
1,524,968 2,438,991 1,465,204
(50,767) (1,055,502)
(38,651)
152,670
35,358
(190,000)
1,394
171,273
159,720
7,281
37,725
38,606
(194,750)
(200,593)
(36,519) (1,050,488)
156,947
(49)
42,500
(103,305)
57,442
291,835
293,295
292,035
293,496
198,305
200,288
782,176
787,079
1,476,442 1,484,977
(35,624)
(29,751)
160,000
38,500
(163,846)
(970)
160,000
38,500
(168,762)
(12)
294,761
294,963
202,291
792,016
1,493,445
(23,666)
160,000
38,500
(173,824)
1,009
Notes:
Current Fund Allocation updated to reflect FY 2012 actuals and revised FY 2013 projection
A deficit occurred in FY 2011 as a result of $1.07 million in expenditures for the project
Fund balance transfers of $103,305 in 2012 was based on actual increase in assets as of June 30, 2012.
BACK TO TOP
TAB 8
Finance Committee
Tab 8 - Action
February 26, 2013
MID-YEAR BUDGET REALIGNMENT
At the May 2012 Board Meeting, the Board of Trustees approved the College’s FY2013
annual operating budget. The unrestricted budget was based on projected revenues of
$75,269,620 derived from tuition and fees, State Aid, auxiliary services and other
sources. The expenditures provided allocation of these revenues in support of the
College’s operations for FY2013. In addition to ongoing operations, the College
included a fund balance drawdown of $10,957,000 budget for the future ERP purchase
and various maintenance projects. The restricted budget included projected revenues
and expenditures of $27,598,996.
A mid-year analysis of revenues results in the following:

A projected decrease in unrestricted operating revenues of $4,090,288 (-6.36%),
primarily due to decreases in student FTE, which drives the tuition, and fee
revenue as well as a decline in auxiliary and investment income. The increase in
State Appropriation is due to state dollars that were received for cost of living
adjustments and no reduction in appropriations that were initially budgeted.
A mid-year analysis of expenditures results in these major adjustments:

Reduction of divisional budgets through operational expenditures and accrued
salary savings ($2,947,500).

Reduction of fund balance dollars that will be used for the ERP implementation
and various maintenance projects ($8,721,400).
THE PRESIDENT RECOMMENDS THAT THE FINANCE COMMITTEE
RECOMMEND APPROVAL OF THE FISCAL YEAR 2013 MID-YEAR
REALIGNMENT TO THE BOARD OF TRUSTEES.
BALTIMORE CITY COMMUNITY COLLEGE
STATEMENT OF BUDGET COMPARISON FOR REVENUES AND EXPENDITURES
FOR FISCAL YEARS ENDING JUNE 30, 2012 & 2013 & 2014
O:\Private\BUD_OFF\FY_13\Midyear Realignment\[BOT Budget Relignment for FY 2013 & FY 2014 request.xls]Rev & Exp
VARIANCE
BUDGETED
REVENUES
FY 2013
FY 2013
Appropriation
Realignment
1
Tuition and Fees
17,549,727
13,115,110
(4,434,617)
2
State Appropriation
38,792,228
40,564,700
1,772,472
3
Auxiliary - Bookstore
4,000,000
2,924,570
(1,075,430)
-26.89% (3)
4
Auxiliary - Other
2,070,943
2,003,643
(67,300)
-3.25% (4)
5
Other Revenues
1,899,722
1,614,309
(285,413)
-15.02% (5)
6
Total Unrestricted Revenue - Operations
64,312,620
60,222,332
(4,090,288)
7
Fund Balance Draws
10,957,000
2,235,600
(8,721,400)
8
Total Unrestricted Revenue
75,269,620
62,457,932
(12,811,688)
9
Public Service- WBJC
1,495,000
1,495,000
10
Federal, State and Local
Grants and Contracts
26,103,996
26,103,996
11
12
Total Restricted Revenue
27,598,996
27,598,996
13
Total Revenue
102,868,616
90,056,928
14
NOTE: Revenues are prepared on the appropriation basis.
Numbers may not sum to total due to rounding
15
16
17
18
19
20
(1)
(2)
(3)
(4)
(5)
(6)
(7)
Appropriation to Realignment
FAVORABLE / (UNFAVORABLE)
AMOUNT
PERCENT
(3)
-25.27% (1)
4.57% (2)
-6.36%
-79.60% (6)
-17.02%
-
0.00%
-
0.00% (7)
-
0.00%
(12,811,688)
-12.45%
Potential 27% drop in in-state Credit FTE for entire year (1,216 FTE); 23.5% drop in out-of-state Credit FTE for entire year (97.1 FTE)
Reflects FY 2013 State Aid without original reduction in appropriations
Auxiliary - Bookstore reflects corresponding reduction in revenues due to projected decrease in credit enrollment
Auxiliary - Other - Due to decrease in Lockwood CPI index and participation as well as loss of one UMI tenant
Other Revenues - reflects reduction in investment income, indirect cost reimbursements
Fund Balance - Reflects delays in ERP process and delays in shovel ready capital improvements
FY 2014 reflects projected net decrease in grants resulting from Department of Labor grant ending in FY2012 ($1.5 million)
VARIANCE
BUDGETED
EXPENDITURES
20
21
22
23
24
25
26
27
27
28
29
30
31
32
33
34
35
36
37
39
40
Academic Affairs
BCED
Student Services
Business & Finance
Plant Operations
Public Safety
Human Resources
Inst. Advancement, Marketing & Research
President's Office
Academic Sup. Learning Resources (ASLR)
CITS
Auxiliary - Bookstore
Auxiliary - Other
Fac. Cap, & Lockwood Reserve
Real Estate Reserve
Liberty North (Bon Secours)
IT Infrastructure Modifications
VOIP Integration
Technology Reserve - ERP
Fund Balance Initiatives
Unallocated
41
42
43
44
45
46
47
48
49
Total Unrestricted Expenditures
Public Service- WBJC
Federal, State and Local
Grants and Contracts
Total Restricted Expenditures
Total Expenditures
FY 2013
FY 2013
Appropriation
Realignment
22,782,192
4,578,518
6,700,316
4,272,376
6,801,231
3,226,852
1,564,430
2,261,626
1,012,353
4,840,055
4,007,776
1,066,534
653,361
200,000
345,000
10,957,000
75,269,620
1,495,000
26,103,996
21,240,696
4,667,614
6,469,236
4,080,152
6,456,100
2,962,880
1,560,383
2,135,540
1,093,269
4,484,297
2,924,570
999,234
653,361
175,000
320,000
2,235,600
-
27,598,996
27,598,996
102,868,616
90,056,928
62,457,932
1,495,000
26,103,996
Appropriation to Realignment
FAVORABLE / (UNFAVORABLE)
AMOUNT
PERCENT
(1,541,496)
89,096
(231,080)
(192,224)
(345,131)
(263,972)
(4,047)
(126,086)
80,916
(355,758)
(1,083,206)
(67,300)
(25,000)
(25,000)
(8,721,400)
(12,811,688)
-6.77%
1.95%
-3.45%
-4.50%
-5.07%
-8.18%
-0.26%
-5.58%
7.99%
0.00%
-7.35%
-27.03%
-6.31%
0.00%
0.00%
-12.50%
0.00%
-7.25%
0.00%
-79.60%
0.00%
0.00%
-17.02%
-
0.00%
0.00%
-
0.00%
(12,811,688)
-12.45%
BACK TO TOP
TAB 9
Finance Committee
Tab 9 - Action
February 26, 2013
TUITION & FEE COMMITTEE RECOMMENDATION
Overview:
The Tuition & Fee Committee was established in FY2005 to perform an annual review
of the tuition and fee structure of the College. The committee is comprised of
representatives from Academic Affairs, BCED, Student Affairs and Business & Finance
Divisions. The committee is mindful of maintaining student access and affordability,
while at the same time charging appropriate tuition and fees to fund expanding services
and increasing costs.
Committee Members:
Adewale Laditan, Cedric Grant, Erik Fortune, Ric Cardall, Delois Mooring, Michelle
Towson, Ronald Smith, and Shawnette Shearin
The committee met to review and discuss relevant data and information including:

BCCC 10-year history of tuition rates and consolidated fees

Maryland Association of Community Colleges (MACC) survey data of tuition and
fees charged by all Maryland community colleges for FY2013

MACC survey on possible increases for all Maryland Community colleges for
FY2014
Tuition and Fee Review:
Based on an analysis of BCCC costs versus similar community colleges, the current
enrollment climate and projections and the change in financial aid regulations for the
students, the committee is recommending no increase in tuition and fees for FY2014.
The committee was mainly concerned about the impact on enrollment if rates were
increased at this time, even though BCCC has not experienced a rate increase since
FY2009. The committee wanted BCCC to continue to remain one of the low cost
leaders for community colleges in Maryland.
Recommendation:
The Committee recommends the following for implementation for the Fall 2014
semester:


No increase in BCCC tuition rate
No increase in BCCC consolidated fee rate
THE PRESIDENT AGREES AND DOES NOT RECOMMEND AN
INCREASE IN TUITION AND FEES FOR FY2014.
Tuition and Fees per Credit Hour for Full-Time Students
Maryland Association of Community Colleges
Fall 2012 (FY2013)
Community College
Service Area
Allegany College of Maryland
Anne Arundel Community College
Baltimore City Community College
Community College of Baltimore County
Carroll Community College
Cecil College
Chesapeake College
Allegany County
Anne Arundel County
Baltimore City
Baltimore County
Carroll County
Cecil County
Caroline, Dorchester, Kent, Queen Anne's and Talbot Counties
College of Southern Maryland
Frederick Community College
Garrett College
Hagerstown Community College
Harford Community College
Howard Community College
Montgomery College
Prince George's Community College
Wor-Wic Community College
Charles, St. Mary's and Calvert Counties
Frederick County
Garrett County
Washington County
Harford County
Howard County
Montgomery County
Prince George's County
Somerset, Wicomico and Worcester Counties
Systemwide Average
Revenues & Expenditures Table V-6
Resident of Service Area
Tuition
Fees
Total
Resident of Maryland
Outside Service Area
Tuition
Fees
Total
Out-of-State Resident
Tuition
Fees
Total
$
113
121
100
131
130
103
155
137
131
114
119
98
145
148
140
101
$
204
210
100
236
189
193
238
236
259
240
179
185
228
289
214
217
$
124
$
214
$
105
97
88
106
107
95
104
$
111
109
90
106
87
124
112
98
93
$
102
8
24
12
25
23
8
51
$
26
22
24
13
11
21
36
42
8
$
22
$
196
186
88
202
156
185
172
$
192
237
216
166
174
207
229
172
209
187
8
24
12
34
33
8
66
$
44
22
24
13
11
21
60
42
8
$
27
$
235
330
210
303
219
230
249
$
248
321
255
218
261
252
314
265
258
261
8
24
12
43
46
8
66
$
243
354
222
346
265
238
315
305
343
279
231
272
273
391
307
266
$
291
57
22
24
13
11
21
77
42
8
$
Fees are defined as: consolidated, registration, student, technology, activity, and parking fees. Lab, graduation, physical education fees, etc. are not included.
Full-Time is defined as at least 15 credit hours per semester.
Source: MCCRG
BACK TO TOP
30