FHDA Board Budget Highlights - May 3, 2010
Mike Brandy outlined a series of favorable budget developments that have added $2 million to the projected bottom line of the 2010-11 district budget. Although this news is good, Brandy noted, the critical variable is whether community colleges will sustain another year of big cuts in the state budget. Among factors contributing to the larger-than-expected bottom line are receiving more state apportionment than projected; stabilizing of international student enrollment; and utility rate reductions. If the district does not suffer major state budget cuts in 2010-11, it may be able to bring back those essential positions slated for elimination on June 30, 2011 (Escrow 2). He said the district expects to have enough money in reserves to cover up to $5 million to $6 million in state budget cuts. Board President Bruce Swenson said resolving the district's structural budget deficit is a major accomplishment, but "we've had to go through a lot of pain to get there." Read the budget update at http://business.fhda.edu/budget/budget_update.