September 13-14 - Nebraska State College System

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7.10.-1 Fiscal and Facilities Committee Larry Teahon, Chair Cap Peterson Jennifer Myers September 13-14, 2007 ____________________________________________________________________________ 2006-07 Year-end Revenue Bond Operating Expenditure Reports Priority: Financial Strength of the System Goals: 3. Strengthen fiscal, environmental, technological and physical resources 5. Secure public and private funding sources Strategies: f. Keep Board of Trustees informed on the financial status of the colleges and system j. Maintain facilities and improve physical environment k. Promote innovative funding programs ____________________________________________________________________________ The revenue bond Master Resolution requires the submission of periodic financial reports to the Board of Trustees. In keeping with that requirement, the colleges have provided expenditure reports for the 2006-07 fiscal year. The reports are intended to demonstrate that the college’s revenue bond programs are operating at the financial level necessary to provide the services to the students while maintaining the revenue stream needed to retire the debt obligations. Bond documents require revenues adequate to cover 110% of the annual principal and interest payment to the bondholders for Chadron State and Wayne State and 125% for Peru State. Board policy requires 125% debt service coverage for Wayne State and Chadron State and 135% for Peru State. The reports indicate the following coverage: Chadron State College 176% Peru State College 206% Wayne State College 232% All of the ratios are well above those indicated by the indentures and policy. Historical debt service coverage ratios, based on the annual audit reports, have been: FY03 FY04 FY05 FY06 CSC 163% 215% 128% 154% PSC 143% 312% 205% 176% WSC 154% 269% 201% 204%
Chadron State College Revenue Bond Expenditure Report For the 12 Months Ending June 30, 2007 Report Date: 08/15/2007 Report Period: FY 2007 Revenues: Budgeted Year-to-Date Percent of FY 2007 FY 2007 Budget Dormitory Rentals $1,731,300 $1,629,165 94.10% Apartment/House Rentals $143,500 $245,034 170.76% Facilities Rentals $55,500 $54,570 98.32% Food Service Contracts 1,556,375 1,551,546 99.69% Food Service Commissions 293,500 284,289 96.86% Facilities Fees* 556,700 581,812 104.51% Bookstore Commissions 94,400 94,946 100.58% Trustee Investment/Interest Income 91,700 138,731 151.29% Parking Fees 46,525 44,584 95.83% Other Income 92,000 86,686 94.22% Total Revenues $4,661,500 $4,711,362 101.07% Expenditures: Salaries and Benefits $1,304,100 $1,301,300 99.79% Utilities 515,000 481,503 93.50% Insurance 31,255 31,253 99.99% Equipment & Furnishings 7,500 9,032 120.43% Capital Outlay 10,000 0 0.00% Telephone/Cable T.V & Internet Services 185,000 183,705 99.30% Supplies 105,000 104,315 99.35% Repairs and Maintenance 180,346 129,273 71.68% Other Operationing Expenses 37,400 38,432 102.76% Subtotal - Operations and Maintenance $2,375,601 $2,278,813 95.93% Food Service Payments 1,440,900 1,382,212 95.93% Debt Service 598,043 598,043 100.00% Total Expenditures $4,414,544 $4,259,068 96.48% Available for Distribution to Subsidiary Funds $246,956 $452,294 183.15% Debt Service Coverage Ratio 1.41 1.76 *All student derived fees
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BOARD OF TRUSTEES Meeting Notice In
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FRIDAY, SEPTEMBER 14, 2007 — Meet
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SEPTEMBER 13, 2007 1:15 - 3:15 P.M.
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Items for information and discussio
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4.4 Approve Contingency Maintenance
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6/7/07 Board Meeting Minutes NEBRAS
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6/7/07 Board Meeting Minutes Stan C
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6/7/07 Board Meeting Minutes Approv
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6/7/07 Board Meeting Minutes REVISE
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6/7/07 Board Meeting Minutes Approv
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6/7/07 Board Meeting Minutes Appoin
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6/7/07 Board Meeting Minutes Wayne
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6/7/07 Board Meeting Minutes Fiscal
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6/7/07 Board Meeting Minutes MISCEL
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6/8/07 Board Meeting Minutes NEBRAS
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1.1.-1 CONSENT AGENDA Academic, Per
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Peru State College Foundation Execu
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1.2.-1 CONSENT AGENDA Academic, Per
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REPORT OF PERSONNEL ACTIONS TO THE
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FISCAL OPERATIONS, NEBRASKA STATE C
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1.4.-1 CONSENT AGENDA Fiscal and Fa
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1.4.-3 FACILITIES, NEBRASKA STATE C
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1.4.-5 FACILITIES, NEBRASKA STATE C
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FACILITIES, NEBRASKA STATE COLLEGE
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Fiscal and Facilities Committee 1.6
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1.7.-2 Wayne 1. Acceptance of $204,
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2.2.-1 Academic, Personnel & Studen
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Report for the Master’s of Scienc
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The following set of charts show th
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individuals functioning in manageme
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During the planning stage for this
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WAYNE STATE COLLEGE Fall 2006 Enrol
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WAYNE STATE COLLEGE Fall 2007 Enrol
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4.2.-1 Fiscal and Facilities Commit
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4.4.-2 WAYNE STATE COLLEGE WAYNE, N
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Fiscal and Facilities Committee Lar
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FACILITIES, NEBRASKA STATE COLLEGE
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Fiscal and Facilities Committee Lar
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PERSONNEL, NEBRASKA STATE COLLEGE S
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Academic, Personnel and Student Aff
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5.3.-1 Academic, Personnel & Studen
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5.3.-3 END OF TERM ENROLLMENT REPOR
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5.4.-1 Academic, Personnel and Stud
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5.4.-3 Physical and Life Sciences D
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5.4.-5 Wayne State College Summary
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5.4.-7 Sociology, Psychology & Crim
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5.5.-2 CHADRON STATE COLLEGE INSTRU
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5.5.-4 WAYNE STATE COLLEGE INSTRUCT
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6.2.-1 Enrollment and Marketing Com
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NOTICE OF INTENT TO APPLY FOR, OR T
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Page 187 and 188: 7.4.-3 PHYSICAL PLANT STATUS REPORT
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Page 191 and 192: CAPITAL CONSTRUCTION QUARTERLY STAT
Page 199 and 200: Report Period: July 2006-June 2007
Page 201 and 202: LB 309 DEFERRED MAINTENANCE PROGRES
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Page 211 and 212: 7.8.-1 Fiscal and Facilities Commit
Page 213 and 214: Peru State College Expenditure Repo
Page 215 and 216: SYSTEM OFFFICE - EXPENDITURE REPORT
Page 217 and 218: Chadron State College Financial Rep
Page 219: Wayne State College Financial Repor
Page 223 and 224: Wayne State College Revenue Bond Ex
Page 225 and 226: 8.1.-1 - Chancellor’s Report - Se
Page 227 and 228: 8.1.-1 2007-08 Meeting Schedule SEP
Page 229 and 230: 8.2.-2 2. An e-mail sent from Dr. L
Page 231 and 232: 8.2.-4 insight into curriculum and
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September 13-14 - Nebraska State College System

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