eCopy, Inc. - Shasta College

View Quarterly Data- CCFS-311 Q (Quarterly Financial Status Report)V. Has the district settled any employee contracts during this quarter?YESPage 2 of2118Contract Period Settled(Specify)YYYY-YYTe m pco_ra_l)' ___ _ClassifiedTotal CostIncrease % * %*b. BENEFITS:Year 3:*As specified in Collective Bargaining Agreement or other Employment Contractc. Provide an explanation on how the district intends to fund the salary and benefit increases, and also identify the revenue source/object code.The District extended the current contract with the Faculty Association through 2013-2014. There was no Increase to salary and benefits.VI. Did the district have significant events for the quarter (include incurrence of long-term debt, settlement ofaudit findings or legal suits, significant differences in budgeted revenues or expenditures, borrowing of funds(TRANs), issuance of COPs, etc.)?NOIf yes, list events and their financial ramifications. (Enter explanation below, include additional pages if needed.)VII.Does the district have significant fiscal problems that must be addressed?This year?Next year?YESYESIf yes, what are the problems and what actions will be taken? (Enter explanation below, include additional pages if needed.)For the 2012-13 year the Di,strict has a budgeted deficit of approximately $950,000. The District has been controlling expenses In order to reduce the level of this deficit. Our currentprojections indicate that this deficit will be covered unless the State applies a larger than projected deficit factor to community college funding.Looking into 2013-14 uncertainty exists as to (1) how much of the current year's structural budget deficit will carry forward and (2) the way In which the Governor's proposed 3.6%Increase in funding may be captured by the District. It will be a challenge to capture this proposed funding if a significant portion of it is allocated for restoring enrollment rather thanCOLA.http://misweb.cccco.edu/cc311 Q/view.aspx4/12/2013