Governing Board A. CALL TO ORDER (5:30 p.m. ... - Chaffey College

TOPIC 2008–2009 TENTATIVE BUDGET
Communication No. IV.F.3.r
AGENDA ITEM
Chaffey Community College District
GOVERNING BOARD
SUPPORTS BOARD ENDS STATEMENT/POLICY
June 26, 2008
Board Meeting Date
This action is supported by Ends Statement 8.4: Provide appropriate fiscal strategies to address growth
and other external environmental factors.
PROPOSAL
To approve the 2008–2009 tentative budget.
BACKGROUND
Title V of the California Code of Regulations, Section 58300, requires the district to develop a tentative
budget on or before July 1 each fiscal year. The purpose of the tentative budget is to establish spending
authority for the district’s operations until the state budget has been finalized and the adopted budget is
approved by the Governing Board. Board approval of the adopted budget usually occurs in August,
depending on when the state budget is signed.
This tentative budget reflects the Ends Policies approved by the Governing Board, protects the core
mission of the college, and provides as much instruction as feasible.
As of this writing, the state legislature and the governor have not completed the budget process. The
administration will update the budget recommendation for the adopted budget at the August meeting of
the Governing Board.
The reserve levels of the college provide strong fiscal stability with a 7 percent board-designated reserve
of $5,766,159 and an additional undesignated reserve projected for 2008–2009 of $3,597,370. The total
reserve of $11,886,104 also includes a Chino campus start-up reserve of $500,000, an enrollment
reserve of $982,575, a GASB 45 postemployment retirement benefit reserve of $1,000,000, and
revolving cash of $40,000.
BUDGET IMPLICATIONS
Funding Source – All district funds.
Status of Funds – The budgets are based on estimated figures at the time of development and will be
updated for the budgets proposed for adoption in August 2008.
Future Implications – N/A
RECOMMENDATION
It is recommended the Governing Board approve the 2008–2009 tentative budget as submitted.
Prepared by: Anita D. Undercoffer, Director, Budgeting Services/Disbursing Officer
Submitted by: C. Earl Davis, Vice President, Business Services
Recommended by: Henry D. Shannon, Superintendent/President
58 6/26/08 Regular Board Meeting