Board of Trustees Meeting Agenda | July 2021

EXPENSES

Expenses by Type

The expenses projected for FY22 show a large increase from the previous year of 13% this is primarily due to increases in operational expenses that were suspended due to the restrictions from the pandemic. The increase from FY20 is 9%. The highest expense category is tied directly to staffing costs which is estimated to be 70% of the budget. $229,343

Faculty (23.22%)

Staff (25.04%)

Student/Temp (4.84%) Goods & Services (30.02%)

Benets (16.89%)

Total Operating Expenses per Student The cost per student has steadily increased due to the increase in Faculty/Staff FTE over time in addition to cost of living adjustments and the impact of health care benefits over the past few years. The expenses per student is increasing due to the increase in costs along with the decline enrollment.

20k

10k

0

FY19

FY20

FY21

FY22

Cost Per Student

Full-Time Equivalent (FTE) Trend

During our previous fiscal year our FTE for employees showed a significant decline of 10% from the previous quarter. This is the primary reason we saw a decline in expenses in FY21. We anticipate filling some of our

Faculty

Classied

vacant FTE in order to maintain operations.

Exempt

0

100 200 300 400 500 600

Spring 17 Spring 18 Spring 19 Spring 20 Spring 21

Total Operating Expenses

229,343

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