Central New Mexico Community College Rating Presentation September 26, 2016
Table of Contents I. Introduction 4 II. Description Of District 9 III. Enrollment & Staffing 15 IV. Capital Improvement Planning 20 V. Finances & Budget 23 VI. Debt Management & Finance Plan 35 VII. Tax Base Information 41 VIII. Economic Review 47 RBC Capital Markets 1
Rating Participants Dr. Katharine W. Winograd, President Katherine Ulibarri, Vice President for Finance & Operations Wanda Helms, CPA, Comptroller & Executive Director of Fiscal Operations Dr. Loretta Montoya, Special Assistant to the Vice President Paul Cassidy, Managing Director RBC Capital Markets 2
Introduction SECTION I
Key Points Overview: In 2015, Central New Mexico Community College celebrated its 50 th anniversary. CNM opened as a small vocational − school in 1965 with 150 students. − Today, CNM is the largest higher education institution in New Mexico in terms of undergraduate enrollment and the most comprehensive community college in the state. − CNM serves students at nine easily accessible locations: one campus in each quadrant of Albuquerque, a campus and a location in the AMREP Building in Rio Rancho, the Advanced Technology Center and Workforce Training Center in north Albuquerque, and the STEMulus Center in downtown Albuquerque. − In 2013, CNM won the Student Success Award from the American Association of Community Colleges, the governing body for 1,200 community colleges nationwide. − In academic year 2014-15, CNM ranked first among 1,100-plus community colleges nationwide for number of associate degrees earned by Native Americans and second for degrees earned by Hispanics. CNM ranked 6 th for total number of associate degrees awarded. − CNM continues to sustain impressive outcomes despite state budget cuts, a sluggish economy and trends showing declining enrollments for higher education in New Mexico and nationwide. Community members continue to view CNM as the most affordable and effective way to improve their job prospects. − CNM maintains state-of-the-art facilities including nursing and surgical labs to serve CNM’s at-capacity healthcare programs and a Solar Center of Excellence to train students in photovoltaic installation. − In 2014, CNM launched CNM Ingenuity, Inc. A 501(c)(3), CNM Ingenuity, Inc. operates a highly successful computer coding bootcamp program and business accelerator in downtown Albuquerque’s Innovation District. − CNM operates under a five-year, long-term capital-planning process. − In 2007, a strong favorable vote added the remainder of Rio Rancho to the CNM Taxing District. CNM has collected from this larger tax base for nine years. − CNM maintains strong partnerships with the University of New Mexico, Albuquerque Public Schools and Rio Rancho Public Schools. The region’s first dual credit high school opened on CNM’s Main Campus in partnership with APS in 2013. CNM plans to devote a future building renovation to expand capacity for the very successful dual credit high school. RBC Capital Markets 4
Key Points – Continued Overview – Continued: − CNM has more LEED certified buildings than any other higher education institution in New Mexico. − During the 2016 local bond election, CNM district voters approved a $0.45 local property tax increase to generate $84 million for capital improvements at CNM. The bond was approved by approximately 65% of voters. Instructional Programs: − CNM offers associates degrees and certificates in more than 100 fields of study including business, health, technologies, trades occupations and academic transfer programs. − Arts and sciences courses and programs transfer to universities throughout New Mexico with more than 70 transfer and articulation agreements. − College preparation courses and non-credit adult education courses and programs include GED and ESL. − CNM offered 1,549 online course sections in the 2015-16 academic year, more than any New Mexico higher education institution. − Accelerated programs in non-traditional formats that serve key workforce needs for the local economy are offered at the STEMulus Center in downtown Albuquerque, which operates under the 501(c)(3) CNM Ingenuity, Inc. − CNM Workforce Training Center provides customized contract employee training for business and industry. Management of District: − Diverse, elected Governing Board members represent seven geographical CNM districts. − Dr. Katharine Winograd, in her tenth year as CNM President, provides very experienced leadership as the second- longest tenured community college president in New Mexico and served as Vice President of Finance before becoming president. She recently signed a three-year contract extension, ensuring continuity. Katherine Ulibarri, Vice President for Finance and Operations since 2007, has many years of experience in New Mexico higher education finance and budget leadership positions. − Dr. Winograd was named Western Region CEO of the Year by the Association of Community College Trustees in 2013. − CNM has had no external audit findings during the past two audited fiscal years (FY-14 and FY-15). RBC Capital Markets 5
Key Points – Continued Finances: − Fund balance management is guided by College policy. − Debt Management Policy and Post-Compliance Guidelines implemented in 2013 help manage and sustain strong debt program, as well as ensure tax compliance and legal controls related to bond obligations. Community Support: − Local businesses rely on CNM for technical training needs, particularly Presbyterian, Lovelace and many other healthcare providers; RiskSense, a cybersecurity firm; Intel; General Mills; ABQ Studios and others in the state’s film industry; Sandia National Labs; and many more. − The College maintains strong support from the community and New Mexico Legislature. − The CNM Foundation recruits high-profile Board members. − CNM is an important partner in Albuquerque’s Innovation District efforts. − Over 1,000 members from local businesses sit on CNM advisory panels to help ensure curriculum meets current workforce needs. Competition: − Private institutions compete for occupational students. − UNM competes to a limited degree for lower-division, liberal arts students. − Online learning continues to grow in New Mexico. − Enrollment is only slightly affected by competition. RBC Capital Markets 6
Vision, Mission, Values, Goals and Strategies Organizational Student Community Vision 2016-2020 Excellence and Success Success Innovation Be a Leader in Education Develop Student Work Experience Program x x x and Training Create Comprehensive Online College x x Expand Fast-Track Degree Offerings x x Mission Increase Percentage Of First-Time, Full-Time, Degree-Seeking Students x Changing Lives, Implement Competency-Based Education Options x x Building Community Expand Credit For Prior Learning x Grow Intersession x Values Expand College & Career High School x x Be Caring Develop Global Learning Initiative x x x Transition From College-Owned Technology To Student-Owned Technology x x Be Ethical Expand Non-Credit Offerings Through Bootcamps, Academies x x Be Inspiring Develop Early Childhood Connect Center Of Excellence x Be Courageous Create A Student-Centered Course Schedule x Be Connected Expand Dual Credit x Be Exceptional Incorporate Sustainability Initiatives Into Course Offerings x Be CNM All First-Time, Full-Time, Degree-Seeking Students Have An Academic Plan x Expand Business Support Through Business Accelerator And SBDCs x Goals Develop And Implement Comprehensive Makerspace x Create Business Incubator Spaces x Student Success Implement Values-Based Employee Initiatives x Community Success Transform Customer Service Experience x Organizational Excellence and Articulate And Implement Space Efficiency Initiatives x Innovation Enhance Intellectual Property Initiatives x Streamline And Document All Processes And Procedures x RBC Capital Markets 7
Description Of District SECTION II
Governing Board Consists of elected member from seven districts. Members serve a four-year term. Elections held the first Tuesday in February in odd-numbered years. Provide general control and management of CNM. Determines financial and education policies Chief administrative function of the Board is to appoint the college President. Set fee rates and tuition annually. Pauline J. Garcia, Vice Chair Robert P. Matteucci Jr., Secretary Thomas E. Swisstack, Member District 1 District 2 District 3 Retired, Utility Services Manager Attorney Retired Administrator Term Expires - 2017 Term Expires - 2019 Term Expires - 2017 Melissa Armijo, Member District 4 Virginia Trujillo, Member Nancy Baca District 6 Fiscal Services, UNM District 5 Retired Administrator Term Expires - 2017 Business Owner Term Expires - 2019 Term Expires - 2017 Michael D. DeWitte, Chair District 7 President, ApertureNEXT, LLC Term Expires - 2017 RBC Capital Markets 9
Organizational Chart – September 2016 RBC Capital Markets 10
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