October 09, 2014 Meeting
Agenda
BUDGET COMMITTEE AGENDA
October 9, 2014 – 3:10 p.m.
Human Resources Conference Room
1. Approval of minutes from the August 20, 2014 meeting
2. Budget Calendar
3. Budget Preparation (AP 6200)
4. Budget Management (AP 6250)
5. System Budget
6. Other
Minutes
BUDGET COMMITTEE MINUTES
October 9, 2014
2:00 P.M. – 3 P.M.
Members Present: Sonja Swenson, Brock McMurray, Sharyn Eveland, Barbara Amerio, Bill Devine, Aldrin Luben and Debbie Hegeman, recorder.
Members Absent: Sheri Horn-Bunk and Agnes Jose-Eguaras
APPROVAL OF MINUTES
The minutes of the meeting held August 20, 2014 were approved by consensus.
BUDGET DEVELOPMENT CALENDAR
Brock reviewed the 2015-2016 Budget Development Calendar with the committee. He noted a few items had been added and asked if there were any other recommendations from the committee. The committee suggested an addition to the calendar in August reflecting a follow-up with the President related to the ranked requests and action taken. Brock asked if anyone had any other suggestions or concerns to please email him otherwise the calendar will be updated and presented to the Board of Trustees at the November 12th Board meeting.
BUDGET PREPARATION (AP 6200)
All committee members received a copy of our current BP 6200 and AP 6200. The AP 6200 from the Community College League of California was to be included but the incorrect document was attached. Brock went over the Administrative Procedures we currently have and after reviewing these documents and some from other colleges, the committee was in favor of simplifying the procedures. Debbie will update the document and email it to the members for their approval.
BUDGET MANAGEMENT (AP 6250)
All committee members received a copy of our current BP 6250 and AP 6250. Also the AP 6250 from the Community College League of California was included. After some discussion and reviewing the documents the committee agreed to simplify the procedures documented for Taft College. This document will also be updated and Debbie will email the update to the members for their approval.
Budget Committee Minutes
October 9, 2014
Page 2 of 2
SYSTEM BUDGET
Brock shared some positive information regarding the small school deferral we took. It’s possible we may not have to wait for the schools who did not take the waiver for growth to be paid back. The new funding formula to be implemented will begin during 2015/2016 and with that we might be eligible for some growth money.
OTHER
TIL Funding – Brock addressed this question by reminding the committee when the TIL project began there was high hopes of matching funds from grants, etc. There were many attempts to acquire the funds including the New Market Tax Credit. The project needed 2.1M for the match. The building was approved and work had begun when we realized we would not be able to acquire matching funds. There were many fund raising attempts but acquiring the match did not materialize therefore it was necessary for Taft College to meet this obligation. In order to complete the project we used money from the Facilities Reserve Account which is not part of our general funds. An agreement has been reached with TIL to repay the debt at $210,000 a year for 10 years with payments scheduled to begin this fiscal year.
Respectfully submitted by:
Debbie Hegeman