Board Approved Operating Budget 2024-2025

SHORELINE COMMUNITY COLLEGE  DISTRICT NUMBER SEVEN

BOARD OF TRUSTEES
REGULAR MEETING OF JUNE 26, 2024

ACTION
Subject:          FY 2024-2025 College Operating, Grants, and Contracts Budget

Background

Per the Board of Trustees Policy Manual, Section “100. B60 – Board Duties and Responsibilities,” the Board will “10. Review and approve an annual budget to finance the operation of the District in accordance with the statutes of Washington and lawful and applicable regulations (page 10).”

The Board has authorized in Section “100.C30 – President” that the President shall be the executive officer through which the Board implements its policies and specifically the responsibility and duty to “5. Prepare and submit to the Board an annual budget and administer the Board approved budget (page 16).”

College Administration presents the attached operating, grants, and contracts budget for the July 1, 2024 through June 30, 2025 fiscal year, hereafter “FY 2024-25,” to the Board for final review and recommends approval. The initial draft of the FY 2024-2025 College Operating Budget was presented to the Board of Trustees at its study session of May 22, 2024. The final version presented for approval includes operating budget adjustments since that time and a proposed budget for both the grants and contracts funds.

In summary, College Administration presents a FY 2024-2025 balanced budget as follows:

  • Operating Budget of total estimated revenues and expenses each equal to $57,305,839.
  • Grants Budget of total estimated revenues and expenses each equal to $2,331,935.
  • Contracts Budget of total estimated revenues and expenses each equal to $19,471,949.

Recommendation 

That the Board of Trustees, by motion and subsequent action, approve the Operating, Grants, and Contracts Budget as presented for Fiscal Year 2024-2025 in the amounts of $57,305,839, $2,331,935, and $19,471,949 respectively; and FURTHER MOVED, that the College President may adjust the operating budget up or down by up to one (1) percent of estimated operating revenues. 

Prepared by:               Joe Mazur, Vice President of Business & Administrative Services

Shoreline Community College
June 2024