PIMA COMMUNITY COLLEGE - PUBLIC HEARING TRUTH IN TAXATION – NOTICE OF TAX INCREASE ADOPTION OF FISCAL YEAR 2019 PROPOSED BUDGET JUNE 13, 2018 PRESENTED BY: DR. DAVID BEA
TRUTH IN TAXATION NOTICE OF TAX INCREASE
PCC PRIMARY, SECONDARY, & COMBINED TAX RATES (FISCAL YEARS 2000-2019*) 1.7500 Proposed 1.3696 1.3983* 1.5000 1.2500 Levy Neutral 1.3709 1.0000 0.7500 0.5000 0.2500 0.0000 FY 2000 FY 2001 FY 2002 FY 2003 FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019* Primary Property Tax Rate 1.1626 1.1709 1.1455 1.1530 1.1358 1.1143 1.0930 1.0570 1.0191 0.9787 0.9356 0.9755 1.0846 1.1484 1.2746 1.3344 1.3689 1.3733 1.3890 1.3983 Secondary Property Tax Rate 0.2070 0.3865 0.4015 0.3803 0.3526 0.2285 0.2184 0.1945 0.1654 0.1502 0.1414 0.1093 0.0248 0.0257 0.0187 0.0000 0.0000 0.0000 0.0000 0.0000 Combined Primary + Secondary Tax Rates 1.3696 1.5574 1.5470 1.5333 1.4884 1.3428 1.3114 1.2515 1.1845 1.1289 1.0770 1.0848 1.1094 1.1741 1.2933 1.3344 1.3689 1.3733 1.3890 1.3983 * proposed
PROPOSED FISCAL YEAR 2019 TAX RATES FOR ALL AZ COMMUNITY COLLEGES (RATES PER $100 NET ASSESSED VALUATION; COMBINED RATES ARE SHOWN) $3.50 $3.3270 $3.00 $2.5760 $2.4023 $2.3623 $2.50 $1.9476 $2.00 $1.8164 $1.3412 $1.3983 $1.3754 $1.50 $1.00 $0.5959 $0.50 $0.00 Eastern Western Cochise Central Yavapai Northland Pima Maricopa Mohave Coconino Primary Tax Rate Secondary Tax Rate
TRUTH IN TAXATION – NOTICE OF TAX INCREASE
PRIMARY PROPERTY TAX LEVY DETAIL – PROPOSED FY 2019 FY 2019 FY 2018 Levy Neutral Proposed Net Taxable Value Current Year ($100s) $ 80,749,577 $ 83,338,929 $ 83,338,929 Overall Change in Valuation 3.30% 3.21% 3.21% Change from New Property 1.43% 1.86% 1.86% Estimated Primary Tax Rate Authorization $ 1.3890 $ 1.3709 $ 1.3983 (per $100 net assessed valuation) Primary Tax Levy $ 112,161,162 $ 114,249,338 $ 116,532,824 Change from previous fiscal year $ 2,088,176 $ 4,371,662 Truth in Taxation Levy Increase $ 2,241,800
QUESTIONS?
ADOPTION OF FISCAL YEAR 2019 PROPOSED BUDGET
FY 2019 REVENUE SUMMARY • Approved Tuition and Fees • $82.50 per credit in-state resident rate, +$450K • $10 fee per payment plan, +$100K • Proposed Property Tax Levy Increase of 2% (levy max), +$2. 2 M • Proposed Revenues – All Funds $300.6M • Proposed Revenues – General Fund $154.9M
FY 2018-2019 PROPOSED BUDGET BY FUND, $300.6M (ALL FUNDS, IN $ MILLIONS) Debt Fund Proposed Designated Auxiliary Fund $5.6 Fund $2.2 2% FY 2018 FY 2019 Change $14.1 1% 5% $ 153.1 $ 154.9 $ 1.8 General Fund 17.0 74.8 57.8 Capital Fund Capital Fund $74.8 General Fund 25% $154.9 53.0 49.0 -4.0 Restricted Fund 51% 15.4 14.1 -1.3 Designated Fund 2.3 2.2 -0.1 Auxiliary Fund 5.3 5.6 0.3 Debt Fund Restricted Fund Total $ 246.1 $ 300.6 $ 54.5 $49.0 16%
STRATEGIC PRIORITIES • Reserves for Strategic Initiative Budget Requests • Progress towards FY 2018-2020 Budget Plan (Scenario B: reduction of $5.0M per year for three years) • Investment in the Educational and Facilities Master Plans • Ongoing operations reductions to meet expenditure limitation • Reduced staffing consistent with: • Improved organizational structures • Enrollment-based staffing ratios
FY 2019 BUDGET EXPENDITURE PRIORITIES • Reduction of approximately 3 administrator, 51 staff, and 10 instructional faculty positions • Maintenance of the 2.5% increase to salaries • Credit Card Service Fee, +$400K • Capital Budget, $10.3M • Revenue Bond Debt, $4.5M • Lease Purchase Debt, $1.1M • Proposed Expenditures – All Funds $300.6M • Proposed Expenditures – General Fund $154.9M
FY 2018-2019 PROPOSED BUDGET EXPENDITURES, $300.6M (ALL FUNDS, IN $ MILLIONS) Administrative Personnel, $6.3, 2% Contingency and Reserves, $17.6, 6% Faculty, $21.8, 7% Student Financial Aid, $30.7, 10% Additional Compensation-Faculty, $1.0, 0% Other Expenditures, $6.7, 2% Adjunct Faculty, $13.1, 4% Current Fixed Charges, $1.7, 1% Supplies and Materials, $8.6, 3% Classified Staff, $48.8, 16% Contractual Services, $18.1, 6% Other Compensation, $4.9, 2% Travel, $3.7, 1% Student Employment, $0.5, 0% Communications and Utilities, $5.8, 2% Fringe Benefits, $29.1, 10% Capital Equipment, $82.2, 27%
STATE BUDGET FORM – SCHEDULE A
STATE BUDGET FORM – SCHEDULE B
STATE BUDGET FORM – SCHEDULE C
THE FISCAL YEAR 2019 BUDGET WOULD NOT BE POSSIBLE WITHOUT THE EXPERTISE OF: INA LANCASTER, CARL ENGLANDER, LESLIE FISHER, AURORA JUAREZ, MARISA MANDAL, TIM RAPOZA, AND BERNARD SIMON THANK YOU!
QUESTIONS?
ADDITIONAL INFORMATION & RESOURCES
COMMUNICATION • May 28 and June 4, 2018 publication in the Arizona Daily Star • Proposed Budget • Truth in Taxation – Notice of Tax Increase • May 28, 2018 Press Release on the proposed budget and Truth in Taxation • June 13, 2018 Public Hearing and Special Board Meeting to adopt the FY 2019 budget and set property tax levies and rates
BOARD APPROVED STRATEGIC PRIORITIES • 2017-2021 College Strategic Plan • Educational Master Plan • Facilities Master Plan • Diversity, Equity, and Inclusion Plan • Strategic Enrollment Management Plan
RESOURCES • Budget Criteria • February 2017 Expenditure Limitation presentation to the Governing Board • June 2017 Adoption of Tax Levies and Rates and Budget for FY18 • FY18 General Fund Budget Detail • November 2017 Report to the Governing Board – Proposed FY19 Budget Calendar • November 2017 Preliminary Budget Presentation to Student Leadership • December 2017 FY19 Budget Outlook Presentation to the Governing Board • January 2018 Budget Forums Presentation • February 2018 Governing Board Study Session
RESOURCES (CONTINUED) March 2018 Governing Board Meeting • FY19 Tuition and Key Budget Parameters • Actual Expenditures vs. Expenditure Limitation and Most Significant Reduction Strategies by Year • April 2018 Governing Board Presentation – Proposed Revenue Bond Projects • April 2018 All College Meeting • Budget FAQ • May 2018 Governing Board Meeting - Presentation of the FY 2019 Proposed Budget • Proposed Budget • Truth in Taxation – Notice of Tax Increase • June 2018 Governing Board Study Session – Bonds 101 •
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