Financial Transparency

FY 2024-2025 Budget

Our budget outlines the sources of funds (revenues) and uses of funds (expenses). Revenues are allocated to the divisions for instruction, student services, programs, institutional support and operations. The chart to the right shows our sources of funds: State Appropriation (54%), Tuition and Fees (45%), and Projected Deficit (1%).

FY2024-25 General Fund Operating Budget: $400 Revenue Sources. State Appropriation 54%, Projected Deficit 1%, Student Fees 6%, Tuition 39%.

Incremental Budget Plan

Our incremental budget plan refers to the amount of revenues and expenses above prior year’s amounts. Before accounting for average savings such as employee turnover, we show a $24.5M funding gap.

  View the paragraph below to find more information on the breakdown of the Incremental Budget Plan.

The table shows a net revenue increase of 10.2 million, with gains in tuition and fees offset by a 2.2 million decrease in state funding. However, expenditure rises sharply to 34.7 million, creating a funding gap of 24.5 million that must be covered by other sources.

A more realistic projection accounts for a 3.5% saving from employee turnover (average is 3-5%) and mandatory costs that can be covered with reserves.

Less: 3.5% Salary Savings – Division (7.6), Benefits Savings (Fees) – Division (0.2), Benefits Savings – Central (4.2), and Reserves for Mandatory Costs (8.3), which totals up to a $4.2 million gap.