Putting into perspective our 2013-14 campus budget
The news media recently reported that our general fund campus budget for 2013-14 has been reduced 2.4 percent—to $84.2 million from $86.3 million.
Though the report is technically accurate, the reality is that our campus is receiving precisely what we projected and anticipated, based, primarily, on reduced anticipated revenue we generated during the current 2012-13 academic year due to a decline in student enrolled credit hours.
Current year enrollment is forecasting basis
More specifically, our 7 percent decline in credit hours produced a $3.9 million revenue shortfall.
“We build our budget by using the current year’s actual enrollment as a basis for forecasting next year’s revenue,” Vice Chancellor for Administrative Services Ken Johnston said.
The good news is that we look forward to offsetting nearly half of that $3.9 million shortfall in 2013-14. That is because we have received a nearly $1 million increase in state appropriations. We also anticipate generating an additional $700,000, thanks to a 2 percent tuition and fees increase approved this week by the Board of Trustees. Finally, we stand to gain another $100,000 in miscellaneous projected revenue, according to Vice Chancellor Johnston.
Doing the math, we project our $3.9 million shortfall shrinking to $2.1 million—the difference between our $86.3 million budget this year and our $84.2 million budget for 2013-14.
“The Board of Trustees and state approved what we projected our budget to be,” Johnston said.