Budget Update Dec 21 2011

FROM:
Marcia V. Keizs, President

DATE:
December 21, 2011

SUBJECT:
Budget Update to the York College Community

I am writing once again to keep you informed of the current state of the York College Budget and as a follow up to the information I provided you in September. I will continue to update you as there are significant new developments, but at a minimum once per semester and again at the end of the fiscal year on June 30.

In my last communication to you, I indicated that as we looked to the future at York, it is our expectation that the academic year 2012-2013 will bring us budgetary relief (enrollment and revenue targets being met). But the current year, 2011-2012, still presents us with some fiscal challenges. Utilizing prudent budget management, we have established three cornerstone financial goals:

1.    Meet our enrollment targets for first-year, transfer and continuing students;
2.    Meet our targeted revenue collection; and
3.    Establish a reserve of $500,000.

Working with the CUNY Office of Budget, the York College financial plan for 2011-2012 builds in the implementation of a set of more aggressive revenue generating activities and stricter expenditure controls. Thus, for Spring 2012, the College will continue to pursue the following actions:

1.    Maximize enrollment for 2012 winter and summer sessions to increase revenue and to promote student progress toward degree completion;
2.    Identify additional non tax levy resources that may support the tax levy budget;
3.    Decrease operational costs by reducing adjunct expenditures, selectively increasing class size, cancelling under-enrolled sections;
4.    Reduce discretionary release time for faculty and assign those faculty into teaching;
5.    Reduce OTPS expenditure