Mandatory fees are also a large contributor to the activity of this fund group – fees to support athletics, student medical and health counseling, technology, and the wellness center. These fees are used to support the specific areas specified in the fee charters. Course specific fees are also part of this fund group, which are designated to pay for either consumable materials (e.g. clay in a pottery class), expenses specific to a course (fuel for travel to a geology field trip), or specialized lab fees (isolated servers for the cybersecurity lab, flight training fees). These fees are, of course, restricted to the related course and are highly monitored. Continuing education, multi-modal learning, running start, and a variety of partnership agreements make up the rest of the activity in this fund. Spending in this fund group can be erratic, as resources are accumulated over several years in anticipation of asset reinvestment (multi-modal upgrades, for example), and this is also where we experience start-up costs for new ventures like Sammamish or aviation. Evident from the chart below, we are in an investment phase right now that has lasted a couple of years; however, we expect this to end after FY 2019. There are few, if any, areas that are experiencing structural deficits, and if they were we would be proposing fee increases to resolve those issues. This fund group will have nearly $14M in accumulated reserves at the end of FY 2018. Local General Fund Operations ('000s) FY15 FY16 FY17 FY18 (F) FY19 (B) Revenues $26,621 $27,763 $26,377 $30,919 $32,306 Expenses Wages & Benefits - Faculty 5,275 7,197 7,747 6,051 4,566 Wages & Benefits - Staff/Student 3,868 5,047 5,443 6,368 6,888 Benefits 2,322 3,275 3,625 3,524 3,647 Goods & Services 8,025 7,605 7,921 11,935 15,590 Travel 1,732 1,934 2,019 2,039 2,286 Equipment 1,906 1,749 2,804 3,308 2,030 Total Expenses 23,128 26,807 29,559 33,225 35,007 Net Margin $3,494 $956 ($3,182) ($2,305) ($2,701) Excludes depreciation
20 | P a g e
Made with FlippingBook - professional solution for displaying marketing and sales documents online