April 23 Campus Budget Conversation Reminder

Dear Colleague,

As a reminder, our next campus budget conversation will take place on Tuesday, April 23 (1:30-3:00 p.m.) in the PUB Main Dining Room. I hope you will join me and also take a moment to submit any financial-related questions you may have in advance. This will allow us to respond to feedback at the meeting and ensure our time together is meaningful. Here are a few questions that we have heard:

  • Explain what is the minimum cash balance required to run our college.
  • Explain the difference between the Board required reserves versus cash balances. 
  • What are the reasons for the cash balance decrease over the past two years? (More detail of increases in expenditures and decreases in revenue)
  • Explain the “gap” estimated $3 million shortfall.
Over the next 18 months, we know that as a campus we need to not only find ways to reduce expenditures, but also grow our revenue by increasing enrollment and retention efforts, as well as by reviewing our programs and services. Bill Saraceno, Interim Chief Financial Officer, has been working with the Executive Team to develop scenarios for the campus community to consider that minimize the impact on current employees during the coming academic year. We plan to share these approaches and other budget information prior to the April 23 meeting.

If you would like to ask budget questions or make any suggestions or requests ahead of the meeting, please continue to use the online comment form or leave feedback in one of the physical comment boxes in these locations:

  • FOSS 3rd Floor Break Room (Room 5325)
  • PUB 2nd floor Break Room (Room 9212)
  • 2800 Building (Math & Science Main Office)
  • 2300 Building (Health Occupations Room 2340)
  • Library Main Desk (4200 Floor)

I look forward to working together to build a sustainable financial plan for the College going forward.

Respectfully,

Cheryl Roberts, Ed.D.

President

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