Fiscal Year 2018 BUDGET Illinois Community College District #503 Adopted Annual Budget For the Fiscal Year Ended June 30, 2018 Board of Trustees Illinois Community College District No. 503 6600 34th Avenue Moline, Illinois 61265 www.bhc.edu THE GOVERNMENT FINANCE OFFICERS ASSOCIATION OF THE UNITED STATES AND CANADA (GFOA) Presented the DISTINGUISHED BUDGET PREPARATION AWARD To BLACK HAWK COLLEGE District #503 Moline, Illinois For the Annual Budget For the fiscal year beginning July 01, 2016 In order to receive this award, a governmental unit must publish a document that meets program criteria as a policy document, as an operations guide, as a financial plan, and as a communications device. This award is valid for a period of one year only. For fiscal years beginning in calendar year 2017, GFOA has created a new award program specific to public schools. We will be submitting this budget to GFOA to determine its eligibility for another award for the fiscal year beginning July 01, 2017. Illinois Community College District No. 503 Board of Trustees Douglas L. Strand Richard P. Fiems Tim A. Black East Moline Port Byron Galva Vice Chair Board Chair Secretary Fritz W. Larsen Jon A. Looney Steven P. Spivey Joseph B. Swan Heidi N. Mueller Moline Kewanee New Windsor Colona Toulon Student Trustee Executive Administration Dr. Bettie A. Truitt President Dr. Amy M. Maxeiner Steven J. Frommelt Dr. Betsey A. Morthland Stacey L. Cary Vice President for Instruction Vice President for Finance and Executive Dean Director of Human Resource and Student Services Administration and Board Treasurer Black Hawk College Illinois Community College District No. 503 Fiscal Year 2018 Budget Table of Contents I. Introductory Section Letter from the President ............................................................................................................. 1 Fiscal Year 2018 Budget Highlights ............................................................................................ 3 Strategic Plan – Mission, Vision, Values, Priorities ...................................................................... 9 Institutional Effectiveness .......................................................................................................... 11 Strategic Performance Dashboard ............................................................................................ 17 Black Hawk College Organization ............................................................................................. 18 Organization Overview .............................................................................................................. 19 II. Budget Authorization and Preparation Statutory Authority .................................................................................................................... 52 Basis of Budgeting .................................................................................................................... 54 Budget Preparation Process ..................................................................................................... 56 Budget Calendar ....................................................................................................................... 58 III. Financial Section Fund Organization Chart ........................................................................................................... 62 Fund Descriptions ..................................................................................................................... 63 Revenue Overview .................................................................................................................... 67 Expenditure Overview ............................................................................................................... 71 Restricted Purposes Fund Overview ......................................................................................... 74 Capital Expenditures Overview ................................................................................................. 77 Key Financial Policies ............................................................................................................... 82 Debt .......................................................................................................................................... 94 Financial Information by Fund ................................................................................................... 97 All Funds ............................................................................................................................. 98 General Fund (Operating Funds)....................................................................................... 110 Education Fund ................................................................................................................. 115 Operations and Maintenance Fund ................................................................................... 120 Auxiliary Enterprises Fund ................................................................................................ 124 Restricted Purposes Fund ................................................................................................. 128 Audit Fund ......................................................................................................................... 133 Liability, Protection, and Settlement Fund ......................................................................... 137 Working Cash Fund........................................................................................................... 142 Bond and Interest Fund ..................................................................................................... 145 Operations and Maintenance Restricted Fund ................................................................... 149 Statement of Cash Flow .......................................................................................................... 154 Fund Balance Analysis by Fund .............................................................................................. 155 Notes to Financial Information by Fund ................................................................................... 156 Black Hawk College Illinois Community College District No. 503 Fiscal Year 2018 Budget Table of Contents - Continued IV. Statistical Information Statistical Information Overview .............................................................................................. 157 Student Enrollment and Demographic Statistics ...................................................................... 158 Students at a Glance............................................................................................................... 159 Financial Aid Recipients .......................................................................................................... 160 District High School Enrollment ............................................................................................... 161 Non Credit Student Demographic Statistics ............................................................................ 162 Credit Hour Information ........................................................................................................... 164 Illinois Community College Tuition & Fees Analysis ................................................................ 165 Tuition and State Average Credit Hour Rates Comparison ..................................................... 167 State Equalization Grant Funding History & Accumulated Deficit ............................................ 168 State Credit Hour Grant Funding History & Accumulated Deficit ............................................. 169 District Property Tax Rates by Purpose................................................................................... 170 District Property Tax Rate History ........................................................................................... 171 District Equalized Assessed Valuation History by County ....................................................... 172 District Equalized Assessed Valuation Percentage by County ................................................ 173 District Property Tax Extensions ............................................................................................. 174 Audited Total Revenue by Source ........................................................................................... 175 Audited Total Expenditures by Program .................................................................................. 176 Operating Funds Budgeted FTE Summary ............................................................................. 177 Comparative Staffing by Employee Classification ................................................................... 178 Operating Funds Budgeted FTE by Reporting Classification ................................................... 179 Faculty and Staff at a Glance .................................................................................................. 180 Fund Balance Trend ............................................................................................................... 181 V. Appendices Appendix A – Illinois Community College District Map ............................................................ 184 Appendix B – Black Hawk College District Map....................................................................... 185 Appendix C – History of Black Hawk College .........................................................................