| Actual | Estimate | Budget | ||
| FY04 | FY05 | FY06 | ||
| Fund Balance July 1 | 15,500,735 | 14,810,482 | 8,046,722 | |
| Revenues: | ||||
| Tuition & Fees | 26,726,774 | 29,810,312 | 33,452,152 | |
| Endowment Income | 924,597 | 603,690 | 1,342,286 | |
| Tax-Sales | 16,163,105 | 16,163,105 | 17,977,532 | |
| Tax-Other | 15,098 | |||
| Out-District Income | 219,445 | 178,791 | 104,750 | |
| Benefit Fund Reimbursement | 17,268 | 10,000 | ||
| State Aid | 10,102,336 | 10,555,928 | 11,112,456 | |
| Other Income | 3,011,358 | 3,423,931 | 3,533,365 | |
| Transfers/Use of Reserves | 1,800,000 | |||
| Revenue Sub-total | 57,179,981 | 60,735,757 | 69,332,541 | |
| Total Resources Available | 72,680,716 | 75,546,239 | 77,379,263 | |
| Expenditures: | ||||
| Education & General Instruct | 28,295,271 | 30,346,161 | 32,796,639 | |
| Pub Service & Acad Support | 9,195,629 | 9,533,289 | 11,363,567 | |
| Student Services | 5,187,843 | 6,161,843 | 6,728,338 | |
| Institutional Support | 6,925,785 | 6,059,780 | 7,344,430 | |
| Facilities Service | 5,403,125 | 5,416,367 | 6,335,998 | |
| Scholarships & Fellowships | 1,005,964 | 1,305,311 | 1,511,408 | |
| Transfers | 1,856,617 | 8,676,766 | 3,252,161 | |
| Contingency | 2,500,000 | |||
| Expenditure Sub-total | 57,870,234 | 67,499,517 | 71,832,541 | |
| Fund Balance June 30 | 14,810,482 | 8,046,722 | 5,546,722 | |
Unanswered Questions:
1. What is included in the Other Expenses & Transfers for FY05's estimate of $8,676,766? Transfers were budgeted for $2,767,101 in FY05.
2. The FY05 expenditure budget was for $65,200,573. Why does the estimated expenditure level exceed the budgeted amount?
| Actual | Estimate | Budget | ||
| FY04 | FY05 | FY06 | ||
| Fund Balance, July 1 | 413,810 | 572,882 | 518,062 | |
| Revenues: | ||||
| Student Union Revenue | 5,759,431 | 5,993,000 | 6,572,741 | |
| Residential Living | 1,330,604 | 2,013,000 | 2,118,190 | |
| Revenue Sub-total | 7,090,035 | 8,006,000 | 8,690,931 | |
| Total Resources Available | 7,503,845 | 8,578,882 | 9,208,993 | |
| Expenditures: | ||||
| Salaries & Wages | 1,984,651 | 1,990,000 | 2,220,242 | |
| Cost of Goods Sold | 3,115,990 | 3,450,000 | 3,295,134 | |
| Other Expenses | 1,130,322 | 1,380,000 | 1,877,087 | |
| Transfers to Debt Retirement Fund | 700,000 | 1,240,820 | 1,237,050 | |
| Transfers to Bldg Construction Fund | 261,418 | |||
| Expenditure Sub-total | 6,930,963 | 8,060,820 | 8,890,931 | |
| Fund Balance June 30 | 572,882 | 518,062 | 318,062 | |
Unanswered Question:
The FY05 auxiliary expenditure budget was for $7,858,185. Why does the estimated expenditure level exceed the budgeted amount?
| Prior Year | Current Yr | Proposed | ||
| Actual | Estimate | Budget | ||
| FY04 | FY05 | FY06 | ||
| Fund Balance July 1 | 1,014,997 | 6,634 | 257,237 | |
| Revenues: | ||||
| Ad Valorem Tax | 2,430,373 | 2,699,085 | 2,950,557 | |
| Motor Vehicle & 16/20 Vehicle Tax | 265,043 | 316,952 | 309,765 | |
| Neighborhood Revitalization | 56,549 | |||
| In Lieu of Taxes (IRB) | 12,163 | 11,902 | ||
| Delinquent Taxes | 11,635 | 53,919 | 23,000 | |
| Investment & Other Income | 104,159 | 147,086 | 109,050 | |
| Other Income | 250,000 | 541,208 | 250,000 | |
| Parking Fees | 25,038 | 25,038 | 25,038 | |
| Transfer from Other Funds/Debt Service | 1,590,000 | 2,130,820 | 2,127,050 | |
| Revenue Sub-total | 4,676,248 | 5,926,271 | 5,862,911 | |
| Total Resources Available | 5,691,245 | 5,932,905 | 6,120,148 | |
| Expenditures: | ||||
| Bond Principle Payments | 1,045,000 | 1,365,000 | 1,260,000 | |
| Bond Interest Payments | 1,713,169 | 1,361,514 | 1,417,498 | |
| Bond Service Charges | (2,080) | 28 | 25 | |
| Transfers to Bldg Construction Fund: | ||||
| For Capital Maintenance | 2,100,000 | 2,105,010 | 2,100,000 | |
| For Equipment | 803,484 | 819,078 | 800,000 | |
| For Parking | 25,038 | 25,038 | 25,038 | |
| Contingency | 400,000 | |||
| Expenditure Sub-total | 5,684,611 | 5,675,668 | 6,002,561 | |
| Fund Balance June 30 | 6,634 | 257,237 | 117,587 | |
| Total Expenditures & Fund Balance | 6,120,148 | |||
| Tax Required | 2,950,557 | |||
| Delinquency Computation (2.250%) | 66,388 | |||
| Amount of FY06 Ad Valorem Tax | 2,884,169 |
| Prior Year | Current Yr | Next Year | ||
| Actual | Estimate | Budget | ||
| FY04 | FY05 | FY06 | ||
| Fund Balance July 1 | - | - | - | |
| Revenues: | ||||
| Property Taxes | 17,268 | 10,000 | ||
| Investment & Other Income | ||||
| Revenue Sub-total | 17,268 | - | 10,000 | |
| Total Resources Available | 17,268 | - | 10,000 | |
| Expenditures: | ||||
| Employee Benefits | ||||
| Transfer to General Fund | 17,268 | 10,000 | ||
| Expenditure Sub-total | 17,268 | - | 10,000 | |
| Fund Balance June 30 | - | - | - |
| Prior Year | Current Yr | Next Year | ||
| Actual | Estimate | Budget | ||
| FY04 | FY05 | FY06 | ||
| Fund Balance July 1 | 1,475,993 | 1,308,439 | 1,173,286 | |
| Revenues: | ||||
| Ad Valorem Tax | 253,096 | 288,037 | 306,858 | |
| Motor Vehicle & 16/20 Vehicle Tax | 33,843 | 33,132 | 32,319 | |
| Neighborhood Revitalization | 5,900 | |||
| In Lieu of Taxes (IRB) | 1,269 | 1,242 | ||
| Delinquent Taxes | 1,209 | 5,628 | 1,500 | |
| Investment & Other Income | 15,522 | 25,095 | 20,000 | |
| Revenue Sub-total | 303,670 | 353,161 | 367,819 | |
| Total Resources Available | 1,779,663 | 1,661,600 | 1,541,105 | |
| Expenditures: | ||||
| Public Liability Insurance Premium | 226,818 | 282,024 | 352,530 | |
| Contingency | 350,000 | |||
| Misc. Risk Management Exp | 28,946 | 5,000 | ||
| Litigation Expense | 145,566 | 62,701 | 600,000 | |
| Athletic Liability Expense | 98,840 | 114,643 | 119,844 | |
| Expenditure Sub-total | 471,224 | 488,314 | 1,427,374 | |
| Fund Balance June 30 | 1,308,439 | 1,173,286 | 113,731 | |
| Total Expenditures & Fund Balance | 1,541,105 | |||
| Tax Required | 306,858 | |||
| Delinquency Computation (2.250%) | 7,825 | |||
| Amount of FY06 Ad Valorem Tax | 299,033 |
| Prior Year | Current Yr | Next Year | ||
| Actual | Estimate | Budget | ||
| FY04 | FY05 | FY06 | ||
| Fund Balance July 1 | 974,878 | 869,964 | 477,964 | |
| Revenues: | ||||
| Sales Tax | 890,000 | 890,000 | 890,000 | |
| Nonmandatory Transfer - General Fund | 609,040 | 203,500 | - | |
| Investment Income | 4,043 | 4,500 | 5,000 | |
| Revenue Sub-total | 1,503,083 | 1,098,000 | 895,000 | |
| Total Resources Available | 2,477,961 | 1,967,964 | 1,372,964 | |
| Expenditures: | ||||
| Capital Project Expense | 717,997 | 600,000 | 482,964 | |
| Transfer to Debt Retirement Fund | 890,000 | 890,000 | 890,000 | |
| Expenditure Sub-total | 1,607,997 | 1,490,000 | 1,372,964 | |
| Fund Balance June 30 | 869,964 | 477,964 | - | |
Unanswered Question:
The $717,997 in FY04 was used to fund the AIS Banner project. Was an additional $600,000 provided for the Banner project, and is the $482,964 in FY06 for the Banner project also?
| Prior Year | Current Yr | Next Year | ||
| Actual | Estimate | Budget | ||
| FY04 | FY05 | FY06 | ||
| Fund Balance July 1 | 6,318,142 | 5,232,569 | 4,842,729 | |
| Revenues: | ||||
| Sales Tax | 1,814,427 | 3,410,160 | 750,000 | |
| Investment Income | ||||
| Revenue Sub-total | 1,814,427 | 3,410,160 | 750,000 | |
| Total Resources Available | 8,132,569 | 8,642,729 | 5,592,729 | |
| Expenditures: | ||||
| Transfer to Building Construction Fund | 2,900,000 | 3,800,000 | 4,000,000 | |
| Contingency | 103,767 | |||
| Expenditure Sub-total | 2,900,000 | 3,800,000 | 4,103,767 | |
| Fund Balance June 30 | 5,232,569 | 4,842,729 | 1,488,962 | |
Unanswered Question:
The $2.9 in FY04 was transferred to the Building & Construction Fund for the Stoffer Hall renovation project. Is the $3.8 million in FY05 and the $4.0 million in FY06 being set aside for the Stoffer Hall project, or for something else?