Financial Transparency - Financials

Our budget outlines the sources of funds (revenues) and uses of funds (expenses). Revenues are allocated to the divisions for instruction, student services, programs, institutional support and operations.

Sources of Funds

The chart below shows our sources of funds: State Appropriation (54%), Tuition and Fees (45%), and Projected Deficit (1%).

 

Incremental Budget Plan

[1].

Our incremental budget plan refers to the amount of revenues and expenses above prior year’s amounts. Before accounting for average savings such as employee turnover, we show a $24.5M funding gap.

 

Fig. 1

[2].

A more realistic projection accounts for a 3.5% saving from employee turnover (average is 3-5%) and mandatory costs that can be covered with reserves.

 

Fig. 2