September 13-14 - Nebraska State College System

4.3.-1
Fiscal and Facilities Committee
Larry Teahon, Chair
Cap Peterson
Jennifer Myers
September 13-14, 2007
____________________________________________________________________________
ACTION:
Approve Cash Fund Carry Forward (one-time) Adjustments as Follows:
Chadron State College $ 25,597.08
Peru State College $350,845.42
Wayne State College $285,000.00
And Cash Fund Base Adjustment as Follows:
Wayne State College $125,000.00
Priority: Financial Strength of the System
Goal: 3. Strengthen fiscal, environmental, technological and physical resources
____________________________________________________________________________
The Board is authorized to approve adjustments to Cash Fund authorizations. The initial
distribution of funds and operating budgets were approved by the Board at the June, 2007
meeting. The initial budgets, at the request of the state, are kept at the level of the cash fund
appropriation included in the legislative bill; along with any increases for tuition and fee rate
increases approved by the Board at that time.
We are now requesting authorization for the colleges to carry forward funding from cash balances
remaining on June 30, 2006 for specific needs. These include the carry forward of system
marketing funds in the amounts of $25,597.08 at Chadron State, $13,345.42 at Peru State, and
$31,540.40 at Wayne State College.
In addition, Peru State requests a cash fund adjustment for various components of the AWAC
Renovation project. These include $30,000 for gym curtains to separate the courts, $55,000 for
the digital building marquee, $52,100 for the brick veneer on the Natatorium north and west walls,
and $56,400 for composite metal panels on the natatorium and the addition. These are all items
that are important to the project that weren’t available within the LB605 project funding. The
request also includes $144,000 that was approved by the board last year for the AWAC project that
will be spent during the current fiscal year. The College has adequate cash funds beyond the
required reserves to cover this adjustment.
Wayne State requests $253,459.60 in addition to the system marketing fund carry forward for
several items planned before June 30 that won’t be completed and paid for until the current fiscal
year. These include entrance improvements to Hahn Administration in conjunction with the street
project, facilities equipment, camp revenues collected before June 30 for camps held this fiscal
year, and the remaining balance of the South Sioux City planning appropriation. The College has
adequate cash funds beyond the required reserves to cover this adjustment.
Finally, Wayne State requests a base adjustment of $125,000 to their Cash Fund authorization
based on revenues generated through increased enrollments and rental revenues. These funds
will be used to assist with expenses related to these increases.