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Office of the


Office Of The President

Academic Core 2H02

Budget Update

Date: November 5, 2012

I am writing to keep you informed of the current state of the college's budget for the 2012-2013 fiscal year (FY '13) and as a follow up to the information I have been providing you during the summer and earlier this fall.

As I shared previously with a number of our governance bodies and am now sharing more broadly, the college's FY '13 Financial Plan was approved by the University Budget Office in mid October. The plan reflects a balanced budget at the fiscal year end and the mandated 1% budget reserve. It also includes meeting our enrollment and revenue goals and $1.6M in Compact Investments. The investments include hiring 8 faculty, 1 advisement counselor, 2 counselors, and 1 public safety officer for a total of 12 positions. Our Compact hiring plan is being implemented, subject to authorization from the University Budget Office and the University Office of Human Resources Management.

Although the college's Financial Plan has been approved, there are still concerns about the college's fiscal stability moving forward. Consequently, the hiring freeze on full-time positions will remain in effect for the remainder of this fiscal year. The hiring freeze on part-time personnel is lifted. The Temp Service and OTPS expenditure controls that were implemented over the past two years remain in effect.

I am extremely encouraged by the progress we have made in controlling our expenditures and by our plan to end this fiscal year with a balanced budget. Achieving this progress has meant gaining the cooperation of all sectors of the college: students, faculty and staff. Thank you all for your dedication, commitment and cooperation.