Notes from 6/24/20 Budget Committee Meeting


Notes from 6/24/20 Budget Committee Meeting

Present: Provost Parrish, AVP Serrano, Chief of Staff Wallace; Professor's Cumiskey, Milligan, Sanchez, Verzani; Higher Education Officer DeMeglio

Review of 3rd quarter financial report of cuny

https://csi-covid19.github.io/CUNY/6-9-FY2020.pdf

As for CSI, our projected year end balance is 19K; heading into the year our balance was 13k. The expenditures and resources are essentially the same.

The projected revenue over tuition target is -1.8M, a bit better than our mid-year position; better than last year's ending position (though there was a signifcant adjustment to this year's target so that comparison is not a straight comparison.) The college was on track to make a dent in this, as collections had improved as of February. It was noted that some campuses (notably KBCC) had a huge negative change in this category post March.

...)

FY21 budget

(NYS may make another adjustment to its revenue projections by June 30th. At the last opportunity, end of April, the April 1 budget was to be modified by ~10B for state agencies. Presumably, CUNY is waiting for that decision. Meanwhile, the state is waiting the outcome of the HEROS act, which promises 35B for the state...)

We reviewed several reductions (real and possible)

Cares ACT

The cares act brought students at CSI ~6.3M (mostly allocated)

The CARES act brings CSI ~ 6.3M for covid related expenses (response to and planning for). This money has not come to campus; There is an addition 900k, with similar restrictions, coming as we are a hispanic serving institution.

In response to a question about the cost of delays, we heard:

CA positions

We heard that the following was shared with P&B: contingency plans for bad scenarios include 3M reduction in the CA budget. (Emphasize, this is part of a plan and may not come to pass). (3M in CAs is about 200 1020-hour lines).

Wash your hands and maintain a "social distance."
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