November 20, 2014 Meeting
Agenda
BUDGET COMMITTEE AGENDA
November 20, 2014 – 2:10 p.m.
Human Resources Conference Room
1. Approval of minutes from the October 9, 2014 meeting
2. Budget Calendar
3. SSSP budget update
4. ACBO Update (growth formula)
5. Other
Minutes
BUDGET COMMITTEE MINUTES
November 20, 2014
2:00 P.M. – 3 P.M.
Members Present: Sonja Swenson, Brock McMurray, Sharyn Eveland, Barbara Amerio, Bill Devine and Debbie Hegeman, recorder.
Members Absent: Sheri Horn-Bunk, Aldrin Luben and Agnes Jose-Eguaras
APPROVAL OF MINUTES
The minutes of the meeting held October 9, 2014 were approved by consensus.
BUDGET DEVELOPMENT CALENDAR
Brock pointed out a few minor changes to the budget calendar which was approved at the November 12th board meeting and will be submitted to the Governance Council during their December meeting.
SSSP BUDGET UPDATE
The SSSP budget augmentation request was approved by the Board at the November 12th meeting. The increase of $561,360 brought the yearly SSSP budget to $1,067,406. Brock reminded the committee the SSSP funds are restricted and have stipulations attached to how the money can be spent.
Based on FTE, we also received notification of $200,000 in Student Equity money. This is new money for Taft College and Mark Williams is preparing the budget and augmentation proposal for the Board.
ACBO UPDATE (growth formula)
Brock reported he recently attended the ACBO conference where he received information on the new growth formula. The new formula is based on five (5) equally rated factors.
FACTOR 1: EDUCATIONAL ATTAINMENT (20%)
Coverage: This measure includes individuals 25 years of age or older residing within a district’s legal boundary.
Measure: Percent of individuals 25 years of age or older that do not have a bachelor’s degree.
Date Source(s):
- Economic and Social Research Institute (ESRI) Data
Budget Committee Minutes
November 20, 2014
Page 2 of 2
FACTOR 2: UNEMPLOYMENT (20%)
Coverage: This measure includes individuals 16 years of age or older eligible to be in the labor force residing within a district’s legal boundary.
Measure: Percent of individuals 16 years of age or older who are unemployed living within the district’s legal boundary.
Date Source(s):
- Economic and Social Research Institute (ESRI) Data
FACTOR 3: PELL (20%)
Coverage: This measure includes all students.
Measure: Annual percentage of students receiving a Pell Grant.
Date Source(s):
- Pell Grant Status: Chancellor’s Office Data Mart
FACTOR 4: UNEMPLOYMENT (20%)
Coverage: This measure includes students residing in households geographically located within a district’s legal boundary.
Measure: This measure is a ratio expressed as a rate of enrolled students per 1,000 comparable individuals within a district’s legal boundary.
NOTE: The numerator is an annual volume of unduplicated headcount of students residing within a district’s boundary. The denominator is a Census-based estimate of individuals living within a district’s boundary.
Date Source(s):
- Student Headcount: Chancellor’s Office Management Information System (COMIS)
- Individuals living within a district’s legal boundary: Economic and Social Research Institute (ESRI) Data
FACTOR 5: UNFUNDED FTES (20%)
Coverage: This measure includes all resident students.
Measure: For districts that have at least 1 percent unfunded FTES in each of the three previous years, this measure calculates the three year average unfunded FTES in the district.
Date Source(s):
- Chancellor’s Office Data CCFS-320 report
(All handouts from this meeting will be available on the Intranet)
Respectfully submitted by:
Debbie Hegeman