Campus-wide Mid-Year Reductions
Approved by the Cabrillo College Governing Board on April 7, 2008

• President’s Component
• Student Services Component

• Business Services Component
• Instruction Component
• Transfer from Base Budget to Children’s Center Fund
  • The Children’s Center fund balance has been as follows:
    • June 2004 $ 67,899
    • June 2005 $ 68,472
    • June 2006 $ 55,506
    • June 2007 $180,072
    • Projected June 2008 $190,000
  • The college transfers funds annually to the Children’s Center Fund. The 2007-08 transfer in the amount of $522,156 will be reduced to $472,156, thereby reducing the projected ending balance from $190,000 to $140,000.

The District negotiated a retirement incentive program with CCEU, effective summer 2008, and CCFT, effective summer 2009. The cost of the incentive was estimated based on input from CCEU and CCFT regarding the number of their members who were interested and qualify for the negotiated cash incentive. $500,000 was budgeted to fund the incentive program. Based on the number of CCEU members who submitted notification by the deadline of January 30, 2008, this reserve will be reduced to $285,000.

In February 2008, a contract was approved in the amount of $1,800,000 to fund a new network and telephone system through tax exempt financing over five years. The first payment, anticipated to occur during 2007-08, was to come from one-time funds. The 2008-09 base budget planning parameters include the annual lease payment. Based on a revised timeline due to removing NexusIS, Inc. from the project, the first payment for the 5 year lease will come out of the 2008-09 Budget and one-time funds savings will occur in the amount of $270,000.