GROWING LEADERS Opportunity. Engagement. Achievement. www.hartnell.edu

Presented by Tracey L. Richardson, Controller

FISCAL YEAR 2014-15BUDGET UPDATEAS OF 1/31/2015

Presented March 11, 2015

GROWING LEADERS Opportunity. Engagement. Achievement. www.hartnell.edu

BUDGET UPDATE 1/31/2015

Actual Budget %*

Revenue $24.3 million $38.4 million 63.3%

Expense $21.7 m $39.3 m 55.9%

Surplus $ 2.6 m

* 58% is the benchmark for both revenue & expense

GROWING LEADERS Opportunity. Engagement. Achievement. www.hartnell.edu

BUDGET UPDATE 1/31/2015

2014-15 2013-14 Diff.

Revenue $24.3 million $24.2 million $ .1 million

Expense $21.7 m $19.7 m $2.0 m

Cash $9.2 m $9.7 m $.5 m

Reserve $12.1 m $13.9 m $1.8 m

Apport. $6.6 m $5.6 m $1.0 m

EPA Funds $2.8 m $2.7 m $.1 m

GROWING LEADERS Opportunity. Engagement. Achievement. www.hartnell.edu

BUDGET UPDATE 1/31/2015

1/31/15 1/31/14 Diff.

Academic Salaries 8,850,101 7,702,542 1,147,559Classified Salaries 4,807,483 4,453,316 354,167Benefits 4,755,429 4,511,744 243,685Supplies & Materials 299,177 277,827 25,350Other Costs 2,909,097 2,714,776 194,321Capital Outlay 67,773 87,763 19,990

Total $21,689,060 $19,743,968 $1,945,092

Ratio increase over prior year – 9.8%

GROWING LEADERS Opportunity. Engagement. Achievement. www.hartnell.edu

BUDGET UPDATE 1/31/2015

50% Rule Calculation as of January 31, 2015

Ratio at 48.97%

Plan of Action – Vice Presidents will reduce non-instructional related expenditures over the remainder of the fiscal year.