Dear MCC Colleagues,
As I shared with you at in-service training in October, MCC faces unprecedented financial challenges. Personnel costs driven by benefit decisions made during more lucrative times now consume 80 percent of MCC’s operational budget leaving only 20 percent on which to operate. This fact combined with our debt service payment will deplete our cash reserves in 2015 if we do not change how we are expending funds and growing revenue. For the past three years, we have made significant discretionary spending cuts in order to deliver a balanced budget each fiscal year. We can no longer use this band-aid approach with the prospect of a 12 percent (or larger) cut in core state appropriations. The issues are systemic and demand a long hard look at our operations and budget allocations as we seek to identify those functions that are most relevant for our success.
This website was created to share financial reports and analyses along with potential solutions that have been identified to help us achieve balanced budgets and long-term financial stability. The financial data and assumptions used to produce the analyses are snapshots in time for the dates on which they were prepared. Specific financial variables such as proposed state appropriations and local property tax revenues are subject to change. This website will be a growing body of knowledge as new analyses are generated and posted so be sure and pay particular attention to the dates of the documents you are reviewing.
We will also post on this website the answers to frequently asked questions (FAQ’s) that are emailed to budget.source@mcckc.edu. Please use this opportunity to become maximally informed, pose your questions and make suggestions by email or through your Budget Response Team (BRT) representatives. There are no easy solutions. My goals are to keep MCC fiscally sound, protect our employees’ jobs and continue to be the best there is at preparing students, serving communities and creating opportunities.
Thank you for what you do to help make MCC what it is.
Mark
