Financial stewardship is an important cornerstone of being a community-supported institution. It's something we pride ourselves on, and a value we hope to instill in our students as we help them achieve their personal and professional educational goals.
Fiscal Year 2013-2014 Proposed Budget: FY2013-14 Preliminary Budget
The following videos provide information on the Higher Education Market, an Overview of Yavapai College, The Yavapai College Budget, and Property Taxes in Arizona. For the best understanding of Yavapai College and our budget, please watch all four videos.
Because of the importance and complexity of the budget, various aspects of the budget are discussed in detail with the board at the monthly board meetings per this calendar.
These discussions of projected revenues and expenses serve as the foundation for the approval of the final budget in June, as well as any property tax increase that may be considered in June. If the publicly elected district governing board is considering an increase in the property tax levy, a truth in taxation hearing will be advertised in accordance with ARS 15-1461.01 in the May timeframe.
I would encourage you to attend these meetings to learn more about the Yavapai College, or to watch them on channel 13 as all board meetings are recorded and broadcasted.
|Month||Governing Board Actions||Discussion Detail||FY14 Information|
|January||Preliminary Budget Assumptions||Budget assumptions are presented for for the major components of revenues and expenditures based on the best information available at this time, but they may change significantly over the coming few months.|
|February||Budget Work Study||The Vice President of Finance and Administrative Services, facilitates the Board members through a Budget work session that includes a review of enrollment and demographic information, budget overview, revenue trends, expense analysis, and fund balances for the coming year.|
|March||Review & Adopt Tuition & Fees||The Vice President of Finance and Administrative Services, and the Vice President of Instruction and Student Services present Tuition and Fees recommendations. An overview is provided of options/recommendations for the coming year on Tuition Adjustment, Course Fees, Fee Options, Western Undergraduate Exchange Tuition and Additional Fees.|
|April||Review Capital Improvement Plan||The Vice President of Finance and Administrative Services, presents the preliminary Capital Budget Information including a Capital Improvement Plan for consideration by the Board.|
|May||Approve Preliminary Budget||The Vice President of Finance and Administrative Services, presents a comprehensive Preliminary Budget for the coming fiscal year.||FY2013-14 Preliminary Budget
|June||Truth in Taxation Hearing
Approve/Disapprove Levy Increase
Final Budget Approval/Adoption
|A Truth-In-Taxation Hearing is held If the District Governing Board plans to asses an increase in total levy. A separate meeting is convened to approve/disapprove the levy increase. A third separate meeting is convened to approve/disapprove the college budget.|
|July||Start of new fiscal year.||The adopted budget is implemented for the new fiscal year.|
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Click to download the following updated documents in pdf format.
Per the "Education Pays" report from the College Board, Higher Education promotes
Yavapai College is one of the cultural hubs of our community, in part due to its Performing Arts Center which attracts a broad cross-section of performers.
Money Magazine again named Prescott to the Top 25 Places to Retire in the U.S., in part due to the amenities offered by Yavapai College. This helps attract retirees to the region to visit and to live. Money Magazine.
Yavapai College creates a $131.2M economic impact on Yavapai County per an independent study conducted in August 2011. This creates a return on investment of 5.6% for every $1 of state appropriation and local property tax invested in Yavapai College.
Per Arizona statute, current Yavapai College expenditures per student are at or below the inflation-adjusted 1980 expenditures per student.
Yavapai College has reduced its inflation-adjusted operating costs per student by approximately 3% per year for the past 5 years.
As of 2009, Yavapai College expenditures per student were 15% below the national community college average, and 35% below the average expenditures per student at Arizona's four year schools.
Yavapai College Employees: Internal budget forms have been moved to the Budget Channel in the YC Portal