Fast Facts: Cabrillo's 2023-24 Budget

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BUDGETS:

The preliminary and final budgets can be found on the Business Office webpage Links to an external site..

• • The budget books contain a wealth of information about: 
    • • the General Unrestricted Fund 11 and Restricted Funds 12-79.
      • Cabrillo's annual apportionment allocation, as well as the federal, state, and local funding.
      • the impact of the annual Governor's proposed budgets on community colleges.  See the Community College League of California (CCLC), Association of Chief Business Officers (ACBO), and ACCCA Joint Analysis of the proposed state budget in Cabrillo's annual preliminary budget.

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Budget Development: 

• Cabrillo’s budget is developed using the incremental-based budgeting model, the most widely used form of budgeting in higher education. It assumes that each year is relatively the same and that any new activity is an add-on. It is the most efficient, cost-effective way to budget.
• For more information, see the Incremental vs. Zero-based Budget Development page.
  Source: Budget and Accounting Manual (BAM, 2012 Links to an external site.) 

Directions

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Oversight and Accountability:

• • Cabrillo’s budget is developed according to

    1. 1. 1. ACCJC Accreditation Standard III.D (Links to an external site.),
          2. Education Code Section 70902(b)(5) (Links to an external site.),
          3. Title 5 Sections 58300 et seq.,(Links to an external site.) 

     as well as Cabrillo’s policy and procedures on

    1. 1. 1. Budget Preparation: BP 6200 (Links to an external site.)     AP 6200 (Links to an external site.)  Links to an external site.,
          2. Budget Management BP 6250 (Links to an external site.),    AP 6250 (Links to an external site.)  and
          3. Fiscal Management, BP 6300 (Links to an external site.),     AP 6300 (Links to an external site.).

Directions

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Snapshots in time:
Preliminary  vs.  Final Budget
Projected  vs.  Actual revenues/expenses:

• The "budget" is a snapshot of revenue and expenses at a particular moment in time.  The differences in the preliminary (June) and final (September) budgets are based primarily on changes in the state budget approved by June 30 annually.
• See the Table called "Total Funds 2023-24 Expenditure Budgets" in the 2023-24 Final Budget, page 4.  Note:  This page is updated annually in the final budget.

Preliminary  vs.  Final Budget.

• The preliminary budget is a spending plan approved by the Board of Trustees by June 30th to authorize expenditures on July 1st annually. It is usually based on the Governor’s January Budget.
• The final budget is a spending plan approved by the Board of Trustees in September and is based on the Governor’s May revision. It also contains a comparison of the current year’s anticipated revenue and expenses to last year’s actual revenue and expense.

Projected  vs.  Actual Budget

• The preliminary budget has projected revenue and expenses for the upcoming year.
• The final budget has more detailed information about
  • • projected revenue and expenses for the upcoming year as well as a
    • comparison of current year projected budget and last year's actual budget.
    • The final budget is approved after we've begun to spend in the first quarter (September) in the fiscal year.

Directions

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General Funds Overview:

• • Each year in the preliminary budget we include an overview of the General Unrestricted and Restricted Funds. Source:  2022-23 Preliminary Budget pg 1 Links to an external site..
  • The General Fund supports Cabrillo's primary instructional programs and related activities and functions.  Operating Expenses, such as salaries and benefits, comprise nearly 90% of Cabrillo's operating expenses.  Source:  2022-23 Final Budget page viii.
  • The General Restricted Fund 12 (EOPS, FTTW, Grants, Guardian Scholars, Veterans Resource Center, etc.) is larger than the Unrestricted General Fund 11.  A complete list of Restricted Fund programs is in Table 12 on pages 18-21 in the 2022-23 Final Budget.

The graphs below show historical trends of the components of "the budget," the General Unrestricted Fund 11: revenues and their major drivers (COLAs and student enrollment) and expenditures with their major drivers (salary costs and state employee benefits costs).

Revenues

The District's Total Computational Revenue has increased since 2018-19 as a result of state Cost-of-Living Adjustments (COLA) due to our "hold harmless" status. 

 Source: 

Student enrollment has been declining over time and growth is not projected in the future. This means enrollment growth funds are likely to be unavailable to the District. In addition, declining enrollment means that when the District is released from emergency conditions, a reduction in funding will occur since enrollment losses since 2017-18 have not yet been restored.

Expenditures

The table below presents the information above in another format.

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Review and Approval:

Budget review and Approval

• The Budget Committee Links to an external site. and College Planning Committee Links to an external site. review budget planning assumptions after the Governor's January State Budget Proposal and May Revision.
• A preliminary budget, or spending plan, is approved by the Board of Trustees by June 30th annually to authorize spending starting July 1st annually.*  For public entities, it is our legal authority to spend money starting 7/1.
• The final budget is approved by the Board by September 15th as required by Title 5 Section 58301 (Links to an external site) Links to an external site.. 

* See AP 6200 Links to an external site. Budget Preparation for more information:  The tentative budget shall be presented no later than July 1 [Title 5 Section 58305(a)], and the final budget no later than September 15 [Title 5 Section 58305(c)].  A public hearing on the budget shall be held on or before September 15 [Title 5 Section 58301].