Outcomes/measures tracked and tools utilized
Fiscal: As a result of the College’s fiscal resource management processes, the College’s financial performance is in conformance with statutory budget requirements and the College has received unmodified audit opinions on the annual financial statement audit. The monthly Treasurer's Reports prepared for the Board of Trustees and the annual financial statement audit report are the primary sources of information on the College's monthly and annual fiscal results, respectively.
Administrative staff in the Financial Services department also prepares an annual financial ratio analysis for the Management Committee of the Board of Trustees. The analysis includes calculation of a composite financial index score and comparison to benchmarks. This analysis also links the College’s financial ratios to the goals of the strategic plan.
Campus budget administrators can use the Banner system to monitor their fiscal performance and to obtain budgeted to actual comparisons at any time. Monthly budget reports are also emailed to all budget administrators by Financial Services staff in order to encourage regular monitoring of results.
The College's bond rating is also monitored by campus administration and the Board of Trustees. In July 2015, Standard & Poor’s re-affirmed the College’s AA bond rating on its outstanding revenue bond indebtedness in connection with a refinancing of bonds originally issued in 2006. In December 2015, Moody’s assigned its AAA rating to the College’s Series 2016 General Obligation Capital Outlay Bonds in the amount of $9.8 million, which were issued to fund capital improvements to various campus facilities.
Physical: The results of JCCC’s physical resource management are safe, secure facilities that support operations; the College is known for its beautiful, well-maintained campus.
The College uses a replacement inventory tracking system, a capital schedule application, and a remodel request application for capital/physical planning and budgeting purposes to allocate funding for new physical resources or improvements to existing ones. The Campus Services department calculates the cost of maintenance per square foot for campus buildings. The calculated cost includes maintenance, transportation, grounds, housekeeping, administration, security, and was estimated at $8.32 per square foot in the 2015 fiscal year. The College has the opportunity to benchmark this against available data (perhaps the Association of Physical Plant Administrators or the National Higher Education Benchmarking Institute) and will consider implementing the results more evidently into planning and budgeting efforts.
The strategic plan task force charged with improving facility utilization has been working since 2014 and has provided updates and recommendations to the President’s Cabinet. Results of the task force's process have shown space planning efforts have traditionally been ad hoc, with information located in several places throughout campus. For example, the Banner system holds directory information, the Ad Astra scheduling system holds classroom and event space data, and Campus Services staff maintains building level information. In order to centralize these processes and data sets, a Space Planning Committee and function was established in 2015. The committee immediately set out to take an initial inventory of the campus and selected a framework for operation—the Postsecondary Education Facilities Inventory and Classification Manual (FICM). The committee’s next steps include gathering information and feedback from the Facilities Master Plan in late 2016, further refining inventory data and determining how to maintain the inventory and utilize it to best support the College's space planning initiatives.
Technological: Items purchased using the Technology Fund are closely tracked and categorized at the end of the fiscal year in an investment summary in an effort to demonstrate the percentage of funds allocated toward equipment replacement versus providing new functionality for the campus community. Accomplishments are featured in the July report to the Management Committee as well as the College's Annual Report to the community.
Summary results of measures
Physical: As part of the facilities master planning process, a space needs analysis was conducted by the firm engaged to assist the College with the plan, which was based upon the data gathered by the College's space utilization task force. A summary space needs analysis for 2015 to 2025 was presented at faculty and staff forums held in April and May 2016 in connection with the planning process. When comparing the College's existing assignable square footage (ASF) to 2015 guidelines and to estimated 2025 guidelines, it was determined the College currently has a shortage of academic spaces of 44,000 ASF, a surplus of academic support space of 3,000 ASF, and a surplus of auxiliary space of 7,000 ASF. This analysis was used to form the recommendations resulting from the plan, including construction of new facilities for career and technical education and for arts education.
Comparison of results with internal targets and external benchmarks
Fiscal: The College uses IPEDS data to compare its results with external benchmarks (an internally developed peer group median) for core expenses per FTE enrollment by function. As illustrated in Figures 5.5 and 5.6 below, JCCC’s total core expenses per FTE remains higher than the benchmark group; the amount by which it exceeds the peer group has decreased each year the past three years, which is consistent with the strategic plan goal to reduce administrative costs as a percentage of total expenditures.
As indicated in Figure 5.7 below, the College’s Composite Financial Indicator (CFI) score was 6.03 when the fiscal year ended in June 2015, which is within the “ideal” threshold of 3.00 or greater. While an official target score has not been established, the College expects to continue to achieve annual CFI scores within the ideal range.
Interpretation of results and insights gained
Fiscal: The College expects continued improvement in its core expenses per FTE ratio due to its strategic efforts to reduce administrative expenses as a percentage of total expenditures. This will be aided by the implementation of the Administrative and Service Area Review process implemented in the AY 2016–2017. The CFI score improvement since 2013 indicates the College has carefully allocated and monitored its financial resources.