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 6/30/19
Revenue:
Tuition and Fees 3,820,208
State Appropriations 2,983,560
Property Taxes 5,619,549
Auxiliary 5,000
Other Sources 308,600
Student Housing income 609,950
Total Revenue 13,346,867

Community Colleges
Local Strategic Value Template

State Budget Office
Office of Education
Please use this table as a method to briefly detail what your community college is doing to meet the best practices in each category. Each category is worth one-third of the total amount available for your institution. Your institution must meet 4 out of 5 best practices in a category to receive funding associated with that category.


Therefore, the following resolution is proposed:

Motion by: Percival seconded by: Bontrager 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 108 of 2017.

ROLL CALL VOTE: (voting aye): Geiber, Bontrager, Bippus, Percival, Lopez and Gosling.

ABSENT: Datkovic Motion: Carried

Bruce Gosling


GOCC Board Chairperson

September 14, 2017


Date

Long-Term Obligations
(Subsequent Event)

Long-term obligation activity for the year ended June 30, 2017, was as follows:

Balance
July 1, 2016
Additions Reductions Balance
June 30, 2017
Current Portion
Bonds Payable Information icon 1,330,000 (310,000) 1,020,000 325,000
Capital Lease Payable 2,105 81,078 (29,131) 54,052 27,026
USDA Loan 3,562.000 3,562,000 151,000
Total $
1,332,105 3,643,078 (339,131) 4,636,052 503,026

Long-term obligation activity for the year ended June 30, 2016, was as follows:

Balance
July 1, 2015
Additions Reductions Balance
June 30, 2016
Current Portion
Bonds Payable Information icon 1,630,000 300,000 1,330,000 310,000
Capital Lease Payable 9,991 7,886 2,105 2,105
Total $
1,639,991 307,886 1,332,105 312,105

USDA Loan
In September 2016, the College obtained a Community College Facilities Bond 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. The amount outstanding as of June 30, 2017 was $3,562,000. Subsequent to June 30, 2017, the College borrowed an additional $2,900,000 as a result of additional construction costs for total borrowings of approximately $6,500,000. The bond matures serially through 2046, with payments due each December 1. Interest is charged at 2. 75%.

Community College Facilities Bonds, 2010
Bonds were issued in 2010 in the amount of $2,955,000. Interest on the bonds range from 2.00 percent to 3.50 percent and is payable semiannually in May and November. Prmc1pal installments ranging from $275,000 to $355,000 are due through May 2020. The proceeds from the bonds were used for capital projects. The bonds are unsecured.

Total principal and interest maturities on the long-term obligations as of June 30, 2017 are as follows:

Year Ending
June 30
Debt Obligations
Principal Interest Total
2018 476,000 77,029 553,029
2019 495,000 118,128 613,128
2020 513,000 102,075 615,075
2021 162,000 85,498 247,498
2022 166,000 81,345 247,345
2023-2027 912,000 344,437 1,256,437
2028-2032 1,026,000 240,625 1,266,625
2033-2037 832,000 117,755 949,755
Totals $4,582,000 $1,166,892 $5,748,892

Estimated Hard Cost to the College Resulting
from the Patient Protection and Affordable Care Act

2018 January-December – fees are broken down by plan
Faculty
$74.68 (January-June 2017)
GOSSE & Admin

$250/$500
deductible plan:

Single: $159.60
Two-Person: $333.60
Family: $435.72

$1350/$2700
deductible plan

Single: $128.16
Two-person: $267.84
Family: $349.92

$2,000/$4,000
deductible plan:

Single: $115.56
Two-person: $241.56
Family: $315.48

General Fund Revenue
and Expenditure Projections

2018-2019 2019-2020 2020-2021
Tuition 3,820,208 3,934,814 4,052,859
Property Tax 5,620,000 5,788,600 5,962,258
State Aid 2,983,560 3,073,067 3,165,259
Other 360,600 331,418 382,560
Total Revenue $12,784,368 $13,167,899 $13,562,936
Salaries & Benefits
8,596,958 8,854,866 9,120,512
Utilities 371,792 382,946 394,435
Insurance 150,474 108,638 111,897
Maintenance and repairs 123,149 126,844 130,649
Maintenance contracts 495,273 510,131 525,435
Scholarships 179,878 185,274 190,832
Promotion and publications 271,877 280,033 288,434
Materials and supplies 281,903 290,361 299,071
Professional services 505,895 521,072 536,705
Travel and professional development 268,739 276,801 285,105
Other operating expenses 317,952 327,490 337,315
Equipment 57,968 59,707 61,498
Total Expense $11,576,857 $11,924,163 $12,281,888
Depreciation $1,025,000 $1,055,750 $1,087,423
Excess (deficiency) of revenue over expenditures $182,511 $187,986 $193,626

Section 209(5)
Community College Survey

Due November 15, 2017

Use and Finance
Bi-Annual Reporting Form

Activities
Classification Structure

Master Agreements

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