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Resource and Allocation Committee

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Hartnell College Board Room - CAB-112
September 8, 2010 at 3:00PM

Ann Wright, Phoebe Helm

Phoebe Helm, Kerri Gray (for Margie Wiebusch), Langston Johnson, Nancy Schur, Ann Wright, Dale Fuge, Kara Singleton

Melissa Stave

Rachell Summers

5:00 pm

Agenda #1

Topic:Budget Report
Presenter:Kent Stephens
Summary of Agenda Item:Kent Stephens, Vice President, Support Operations presented a budget report. There was a very through report given and a link to the Budget Presentation that was given at the Board of Trustees meeting on October 7, 2010 is noted here.

Final budget: http://www.hartnell.edu/board/2010-2011_Annual_Budget.pdf

Budget presentation: http://www.hartnell.edu/board/FY11_Budget_Presentation_090710.pdf

Kent expressed that the good news is that revenues are higher than expected and expenses are lower than expected. Better information is being given to the Board and to RAC and to those who handle budgets. There are monthly budget reports that show how much money is budgeted for each month and what expenses really are, so that there is a very transparent reporting system of the budget on an on-going (monthly) basis.

Kent talked about having a replacement schedule which is setting aside money each year for repairs/maintenance/replacement. By having a plan like this in place, it avoids budgetary surprises.

After Kent\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\'s presentation, there were comments about how clear and precise his presentation was and how easily it is to understand. RAC members gave their appreciation to Kent for his expertise in this area.
Action(s) required:N/A