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Board Budget Subcommittee Minutes

April 28, 2010

  Committee Members: Mike Davenport, Mark Dover, and Elvira Robinson
  Committee Resources: Steve Kinsella, Joseph Keeler, and Susan Cheu

1) Call Meeting to Order: Trustee Davenport called the meeting to order at 5:07 p.m.
2) Approve Minutes: The minutes from March 3, 2010 were approved unanimously; MS (Robinson/Dover).
3) Comments from the Public: No comments from the public.

4) FY 2010-11 Gavilan Tentative Budget

Susan reviewed the "Consolidated Summary of All Funds, Tentative Budget, FY 2010-11". She explained the various changes in revenue and expenses for the general fund and the other funds of the District. In particular, Susan highlighted that the General Fund continues to deficit spend in FY 2010-11. The deficit is ($670,364). Susan noted that we are hoping for more positive changes between the tentative budget and the adopted (final) budget but it is very dependent upon what happens on the state level. In addition, Susan reviewed the "Schedule of Intrafund and Interfund Transfers" and the various components of why those transfers have increased for various programs. Susan noted that the tentative budget shows the General Fund with an estimated ending balance on June 30, 2011 of $1,343,793 which is 5% of expenditures.

The multi-year deficit spending was questioned and Steve responded that given the economic situation the use, or drawn down, of the fund balance has always been a part of the plan. Steve noted, however, that with the estimated fund balance being at 5%, the District can no longer deficit spend. Steve also noted that since the District is over its cap by about 300 FTES, the adjusted budget should show the affect of spring semester reductions, as well as any new grants the District has applied for.

The Committee agreed to send the Tentative Budget to the full Board of Trustees as presented.

5) Other
  No other items were discussed.
6) Adjourned Meeting adjourned at 5:45 p.m.

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Last modified: May 26, 2011
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