Board Approved Operating Budgets 2022-2023

SHORELINE COMMUNITY COLLEGE BOARD OF TRUSTEES, DISTRICT 7

REGULAR MEETING OF JUNE 22, 2022

ACTION

Subject:          2022-2023 College Operating Budget

Background

The College’s most recent budgeted year (FY 2021-2022) ends on June 30, 2022, which is directly aligned with the fiscal year of the State of Washington. In order to establish proper spending authority for the institution, it is necessary for the College to adopt a budget for the coming fiscal year (FY2022-2023), which begins July 1, 2022.

The total estimated operating expenditure is recommended to be $48,891,639 for FY 2022-2023. This budget is expected to return $487,805 to the carry forward cash balance.

State allocation  

Tuition and major contract revenues                               

Estimated operating budget for FY2022-2023

$33,856,901

$15,034,738 (Domestic, International, Running Start, CECO)

$48,891,639

  • Mandatory expenditure increases include health care, pensions, and compensation adjustments (4.74% for faculty, 25% for classified and admin/exempt, and 5% King County premium payment)
  • State advised 4% increase in tuition rates

Recommendation

That the Board adopt the following motion:

MOVED, That the Board of Trustees of Shoreline Community College authorizes a fiscal year 2022-2023 operating budget of $48,891,639; 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:   Bob Williamson

Acting Vice President for Business & Administrative Services Shoreline Community College

June 21, 2022