Reporting Requirements
for Public Act 201 of 2012

In order to comply with the reporting requirements imposed on community colleges by Public Act No. 201 of 2012, Glen Oaks Community College has provided the following information and links:

Financial

Budgeted Income Statement

FYE 6/30/23
Revenue:
Tuition and Fees 3,996,411
State Appropriations 3,383,000
Property Taxes 6,127,942
Other Sources 650,000
Student Housing income 603,900
Total Revenue 14,761,253
Expense:
Salaries and Benefits 9,668,568
Contracted Services 1,373,575
Materials & Supplies 584,013
Rent, Utilities & Insurance 474,710
Travel, Communication & Misc 634,067
Scholarships 303,697
Depreciation 1,525,000
Small Capital 186,115
Total Revenue 14,749,744
Gain/(Loss) 11,509

Community Colleges
Local Strategic Value 2022

State Budget Office
Office of Education

Michigan Public Act 144 of 2022, the Fiscal Year 2023 community colleges appropriation bill. The law requires Glen Oaks Community College Board of Trustees to pass a resolution certifying that the college meets at least four out of five of the best practice standards under each of the three categories. Among the components of the appropriations for all Michigan community colleges is performance funding based on “local strategic value,” which is defined in terms of three categories as shown below. Each category covers five standards of local strategic value, called “best practices.”

Glen Oaks Community College not only meets, but also exceeds the best practices standards required by the appropriations law for fiscal year 2023, as the following table demonstrates:



Therefore, the following resolution is proposed:

Motion by: Haas, second by: Lopez, that Glen Oaks Community College Board of Trustees certifies that the College does meet the best practice standards required for State Appropriations under Michigan Public Act 144 of 2022.

ROLL CALL VOTE: Bontrager, Datkovic, Higgins, Percival, Haas, Lopez and Gosling
Attending via ZOOM: none
ABSENT: None Motion: Approved/Carried

Bruce S. Gosling


GOCC Board Chairperson

September 8, 2022


Date

Long-Term Obligations
(Subsequent Event)

Long-term obligation activity for the year ended June 30, 2021, was as follows:

Balance
July 1, 2020
Additions Reductions Balance
June 30, 2021
Current Portion
Direct borrowings
USDA Loan – Student Housing 6,036,000 (162,000) 5,874,000 166,000
USDA Loan – Concourse 2,118,500 (43,000) 2,075,000 45,000
Total Direct Borrowings
(equals to total debt)
8,154,000 (205,000) 7,949,000 211,000
Balance
July 1, 2018
Additions Reductions Balance
June 30, 2019
Current Portion
Bonds
Bonds Payable Information icon 355,000 (355,000)
Direct borrowings
USDA Loan – Student Housing 6,194,000 (158,000) 6,036,000 162,000
USDA Loan – Concourse 2,027,500 132,500 (42,000) 2,118,000 43,000
Total Direct Borrowings $ 8,221,500 132,500 (200,000) 8,154,000 205,000
Total Debt $ 8,576,500 132,500 (555,000) 8,154,000 205,000

USDA Loans
In September 2016, the College obtained a Community College Facilities Loan from the United States Department of Agriculture in an amount not to exceed $6.5 million, which was used to fund the construction costs of the student housing, which was completed during fiscal 2018. The loan matures serially through 2046, with principal payments ranging from $155,000 to $297,000 due each December 1. Interest is charged at 2.375% and is payable semi-annually.

In August 2018, the College obtained a Community College Facilities Loan from the United States Department of Agriculture in an amount not to exceed $2.2 million, which was used to fund the construction costs of the concourse, which was completed in fiscal 2021. The loan matures serially through 2048, with principal payments ranging from $40,000 and $121,000 due each June 17. Interest is charged at 3.875% and is payable semi-annually.

Community College Facilities Bonds, 2010
Bonds were issued in 2010 in the amount of $2,955,000. Interest on the bonds ranged from 2.00 percent to 3.50 percent and was payable semiannually in May and November. The proceeds from the bonds were used for capital projects. The bonds were unsecured. The bond obligation was paid in full in fiscal 2020.

Total principal and interest maturities on the direct borrowing obligations as of June 30, 2021 are as follows:

Year Ending
June 30
Debt Borrowing Obligations
Principal Interest Total
2022 211,000 219,914 430,914
2023 217,000 214,228 431,228
2024 222,000 208,369 430,369
2025 228,000 202,376 430,376
2026 234,000 196,212 430,212
2027-2031 1,272,000 882,119 2,154,119
2032-2036 1,455,000 698,776 2,153,776
2037-2041 1,665,000 487,643 2,152,643
2042-2046 1,911,000 243,840 2,154,840
2047-2048 534,000 20,927 554,927
Totals $7,949,000 $3,374,404 $11,323,404

General Fund Revenue
and Expenditure Projections

2022-2023 2023-2024
Tuition 3,996,411 4,116,303
Property Tax 6,127,942 6,311,780
State Aid 3,383,000 3,484,490
Other 1,253,900 1,291,517
Total Revenue $14,761,253 $15,204,091
Salaries & Benefits
9,668,568 9,958,625
Utilities 359,900 370,697
Insurance 96,700 99,601
Maintenance and repairs 159,980 164,779
Maintenance contracts 677,596 697,924
Scholarships 303,697 312,808
Promotion and publications 351,728 362,280
Materials and supplies 250,395 257,906
Professional services 535,999 552,079
Travel and professional development 415,638 428,107
Other operating expenses 218,429 224,982
Equipment 186,115 191,698
Total Expense $13,224,745 $13,621,487
Depreciation $1,525,000 $1,570,750
Excess (deficiency) of revenue over expenditures $11,509 $11,854

Note:This document is presented for required State reporting purposes only and subject to change.

Section 209(5)
Community College Survey

Due November 1, 2021

Use and Finance
Bi-Annual Reporting Form

Federal Stimulus Funding Update

HEERF I
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
Awarded
Institution: 288,340
Student: 288,341
SIPS: 28,730
Total: 605,411
HEERF II
The Coronavirus Response and Relief Supplemental Appropriations Act (CRRSA Act)
Awarded
Institution: 944,298
Student: 288,341
SIPS: 52,120
Total: 1,284,759
HEERF III
The American Rescue Plan (ARP)
Awarded
Institution: 1,103,896
Student: 1,115,620
Total: 2,219,516
Corona Virus Relief Funds (CRF)
Awarded
Institution: 297,100
Total: 297,100
SSARP
(American Rescue Plan Act of 2021 Education Stabilization Fund)
Awarded
Institution: 85,036
Student: 85,036
Total: 170,072
Total Funding: 4,576,858

Activities
Classification Structure

Additional Information

91.9% of respondents to our most recent Glen Oaks Graduate Survey report being employed

Glen Oaks Community College District Boundaries

Nondiscrimination Statement

In accordance with federal civil rights law and U.S. Department of Agriculture (USDA) civil rights regulations and policies, the USDA, its agencies, offices, and employees, and institutions participating in or administering USDA programs are prohibited from discriminating based on race, color, national origin, religion, sex, gender identity (including gender expression), sexual orientation, disability, age, marital status, family/parental status, income derived from a public assistance program, political beliefs, or reprisal or retaliation for prior civil rights activity, in any program or activity conducted or funded by USDA (not all bases apply to all programs).  Remedies and complaint filing deadlines vary by program or incident.

Persons with disabilities who require alternative means of communication for program information (e.g., braille, large print, audiotape, American Sign Language, etc.) should contact the responsible agency or USDA’s TARGET Center at (202) 720-2600 (voice and TTY) or contact USDA through the Federal Relay Service at (800) 877-8339.  Additionally, program information may be made available in languages other than English.

To file a program discrimination complaint, complete the USDA Program Discrimination Complaint Form, AD-3027, found online at http://www.ascr.usda.gov/complaint_filing_cust.html and at any USDA office or write a letter addressed to USDA and provide in the letter all of the information requested in the form.  To request a copy of the complaint form, call (866) 632-9992.  Submit your completed form or letter to USDA by:

  1. Mail: U.S. Department of Agriculture
    Office of the Assistant Secretary for Civil Rights
    1400 Independence Avenue, SW
    Washington, D.C. 20250-9410; or
  2. Fax: (202) 690-7442; or
  3. Email: intake@usda.gov

This institution is an equal opportunity provider.

Any person believing that Glen Oaks Community College or any part of the organization has engaged in a discriminatory practice should contact the Glen Oaks Title IX Coordinator, Tonya Howden, at 62249 Shimmel Rd., Centreville, MI 49032, office A53.

Phone number: (269) 294-4230
Contact Form