Fyo6 Budget

Fyo6 Budget

WARREN COUNTY COMMUNITY COLLEGE FY20 BUDGET PROPOSAL Public Hearing May 16, 2019 General FY20 Budget Info WCCC budget cycle is July 1 through June 30 Preliminary budget adopted in January Board of School Estimate to determine County support in February Governors budget announced in March Legislature develops an Appropriations Bill Governor can cut (veto) but cannot add funds Final state budget is signed by Governor by July 1 Any changes in student charges effective for the fall

semester FY20 PROPOSED SOURCES OF REVENUE COUNTY FUNDING 24% STATE FUNDING 23% TUITION AND FEES 45% NON-CREDIT 5% OTHER 3% PROPOSED BUDGET : $9,465,738 Revised FY19 Budget: $9,291,410 Change: $ 169,348 (1.8%)

FY20 PROPOSED SOURCES OF REVENUE County Funding $2,236,238 State Funding $2,220,000 Tuition and Fees $4,267,500 Non-Credit Revenue $ 460,000 Other $ 282,000 Total $9,465,738 Revenue Assumptions for FY20

Enrollment decrease of 4-5% Just under 6% increase in county funding Slight decrease in state funding* 4% ($7/credit) tuition and fee increase Cengage fee of $135 for new fall students (spring and summer students do not pay for fall) *State funds are apportioned primarily based on this years enrollment, so exact state increase will not be known until next spring. 2018-19 Proposed Charges (Per Credit)-Effective Fall 2019 Tuition General Fee Technology Unfunded Mandates

Total Per Credit Fees $ 160.00 $ 6.00 $ 6.00 $ 1.00 $ 173.00 2017-18 Charge: $166.00 Increase: % Increase: $

7.00 4.2% COST PER CREDIT (Fall 2018 vs. Fall 2019) Credits Current Proposed Change 3 credits 498.00

519.00 $21.00 6 credits 996.00 1,038.00 $42.00 9 credits 1,494.00 1,557.00

$63.00 12 credits 1,992.00 2,076.00 $84.00 15 credits 2,490.00 2,495.00

$105.00 2019-2020 Tuition and Fee Charges (30 Credits at In-County Rates) Sussex Raritan Valley Morris Warren $6,784 $5,986 $5,190 $5,190 Source: College websites. Assumes a course load of five 3-credit courses. Includes per credit, per semester and per course fees (but not individual

course fees). Lab fees are much higher at some institutions. Also does not assume book charges. Students new to WCCC this fall will pay a Cengage fee that will be good for one year. Breakdown of FY20 Proposed Expenses (in Rounded $000) FY19 FY20 Revised Proposed Academic $ 3,683 $ 3,758 Student and Tech. $ 1,219 $ 1,184 Administrative* $ 2,846 $ 2,851 Plant and General** $ 1,542 $ 1,673 Total $ 9,291 $ 9,235 *Administrative offices plus fringe benefits, general supplies (postage, paper, copiers), legal, payroll, banking **Insurance, utilities, building maintenance, security and facility expenses.

Initiatives for FY20 New programs have been approved for AS in Business Management and AS in Substance Abuse; and AAS in Unmanned Aerial Systems (drones) Building annex, including lecture hall and learning lab will be opened Three more computer labs will be re-equipped in Summer 2019 The Cengage partnership will continue for the Fall 2019 cohort of students. As a result, many students may have reduced costs for fall as compared to spring Governors Proposal The Governor has proposed free tuition and fees to families with incomes below $45,000 beginning spring 2019. We do not know the details of the

proposal. It must be approved by the legislature There are also increases included in the Governors budget for the Tuition and Grant and Educational Opportunity Fund programs Any questions or comments? For more information, please contact: Barbara Pratt Vice President Finance & Operations [email protected] 908 835-2355 THANK YOU!

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