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Fiscal Year 2023BUDGET-IN-BRIEFFiscal Year Ending June 30, 2023
TABLE OFCONTENTSFrom the President3Yavapai College at a Glance4Financial Facts5Yavapai College Organization Chart; DGB Members6FY2023 Initiatives7Budgeted Revenues Property Tax Tuition & Fees State GovernmentBudgeted Expenditures by Fund General Fund Restricted Fund Debt Fund Capital Fund Auxiliary Fund8910111213141516-1718-19MISSIONYavapai College enriches our community by providingaccessible, quality workforce, transfer, lifelong, and culturallearning opportunities.VISIONYavapai College makes our Community a premier place tolearn, work, and live.PRIORITIESYavapai College exists so communities within Yavapai Countyhave access to and are equipped with the knowledge andskills to improve quality of life. The College will achieve theseresults at a cost the Board believes is justifiable.1. Education:a. Job seekersb. Transfer studentsc. Adult Basic Educationd. Lifelong learnerse. Maximize persistence and completionf. Students understand how to access financial resourcesand support programs2. Economic:Communities in Yavapai County are supported in their effortsto lead economic development, with emphasis on generatingand sustaining economic base jobs.3. Community:Yavapai County residents have access to social and culturalopportunities.PHOTOS TOP TO BOTTOM: Prescott Campus, Verde Valley Campus, Prescott Valley Center,Career & Technical Education Center, Chino Valley CenterCOVER PHOTO: Verde Valley Campus, Building L
FROM THEPRESIDENTMembers of the District GoverningBoard and Citizens of Yavapai CountyCommunity College District:As you are well aware, COVID-19 has ravaged the nationimpacting the health, economic security and way of life forall of us and disrupting our educational model. As we moveout of the pandemic and have gained our ability to returnto campuses and face-to-face interactions, we are proudto say that during the pandemic we worked hard to makestructural and operational changes that have built capacityfor us as an institution with an eye toward changing needsof the post-COVID world. The pandemic has changed theway employees understand and carry out their work andthe way students understand and experience learning.Students are choosing more online and hybrid coursesand want more flexibility in scheduling and course deliverymodalities.The need for short-term training options has never beenmore urgent and apparent resulting from the economicdownturn. Our focus on affordability, flexible educationdelivery and connections to our local workforce andregional economies, makes us well positioned toprovide our region with access to an expanding array ofeducational options that prepare students for work. We seeourselves as an engine of recovery for our local economyand have worked diligently to reallocate existing resourcesto make our programs and services even more accessibleand affordable for our community.Recognizing the state of our community, again this year,we proposed no increase in the property tax levy. We’vemaintained one of the most affordable tuition rates inthe state and the country. We’ve implemented a numberof ways to reduce costs for students. We are continuingto expand course offerings utilizing Open EducationalResources in lieu of expensive textbooks eliminatingtextbook costs altogether for many more courses. Weare planning an expansion of our nationally- recognizedCollege Promise program to serve not only graduates rightout of high school but also adult learners pursuing careerand technical degrees. The College Promise refunds studentout-of-pocket expenses for tuition. We are continuing ourfull-time student discount and our senior discount and,this year, reduced the cost for students in high school whoare enrolled in college courses concurrently making ourprograms increasingly accessible and more affordable.Our AZ governor signed SB 1453 allowing communitycolleges to offer four-year degrees this year. We areon track to be the first rural college in AZ to offerbaccalaureate degrees beginning in Fall of 2023. This offersa promising solution that will help the college to addressthe low rates of underserved students and residents with abachelors degree in our county.Our objective is to present a balanced budget in a mannerthat allows the institution, despite challenges imposed bypost-COVID realities, to move forward with our aggressivestrategic plan focused on creating a sense of belonging,improving support for adult learners, ensuring programslead to living wage jobs and providing flexible deliverymodels. As a learning-centered community, Yavapai Collegeis dedicated to providing educational opportunities bypromoting excellence in teaching and learning.We celebrate our excellence in learning, service andrelationships. Most of all, we honor the trust placed in us bythe public and uphold it through quality programs, integrityof actions and efficient use of our resources. To those whoso carefully and thoughtfully contributed to the preparationof this budget, thank you.Lisa B. Rhine, Ph.D.PresidentYavapai College Fiscal Year 2023 Budget-in-Brief3
YAVAPAI COLLEGE AT A GLANCEInstitutional ProfilePer the District Governing Board, YC exists to provide quality educational opportunities, tosupport economic development, and to enhance cultural opportunities for our communities.The College will achieve these at a justifiable cost. Over 10,000 credit and non-credit students choose YavapaiCollege every year. Yavapai College is accredited by the Higher LearningCommission. As such, the majority of our general educationclasses are accepted at Arizona’s public universities, which savesstudents money should they decide to continue their studiesbeyond an Associate’s Degree. In addition, accreditation allowsour students to access federal grants and loans. YC offers 7 Associates Degrees in two broad categories ofbaccalaureate transfer or career & technical education. Transferdegrees include Associate of Arts, Associate of Arts in Education,Associate of Arts in Fine Arts, Associate of Business, Associateof General Studies, and Associate of Science. The Associate ofApplied Science prepares graduates to enter the workforce inmore than 25 career & technical fields. In addition, the Collegeoffers more than 75 certificates in career and technical fields. More than 1 in 3 Yavapai County high school graduates chooseto attend YC Unique destination programs include Aviation, Gunsmithing,Northern Arizona Regional (Police) Training Academy, the awardwinning Southwest Wine Center, the Sedona Culinary Institute,and 3D Construction. In addition to offering classes in high schools and online, YCservices the 8,100 square miles of Yavapai County through800,000 sq. ft of buildings on 260 acres of property at 6locations (see below). Per an independent assessment, YC is oneof the better-maintained colleges—we do this because it lowersthe total costs of TER4Yavapai College Fiscal Year 2023 Budget-in-Brief
FINANCIALFACTSLOW TUITIONLOW COST PER STUDENT2ND LOWEST IN STATE ANDONE OF LOWEST IN US PER AZ CONSTITUTION, COST ISSAME OR LOWER THAN 1980 WHENADJUSTED FOR INFLATION NEAR NATIONAL AVERAGELOW PROPERTY TAXES AVERAGE RATE FOR AZCOMMUNITY COLLEGES AZ IS 11TH LOWEST IN USWELL-MAINTAINEDFACILITIESBEST-IN-CLASS NETASSET VALUE RATINGSSTRONG CREDIT RATINGS MOODY’S AA2 STANDARD AND POOR AA-VALUE 368,000 1 7.20MORE EARNINGS WITHASSOCIATE DEGREESTAXPAYERSINVESTMENTYavapai College Fiscal Year 2023 Budget-in-Brief5
ORGANIZATION CHARTDISTRICT GOVERNINGBOARDYvonne SandovalExecutive AssistantPresident’s OfficeDr. Lisa B. RhineBeckey MasseyCoordinatorDistrict Governing BoardPresident, Yavapai CollegeClint EwellVice President of Finance andAdministrative ServicesRodney JenkinsVice President of CommunityRelations and Student DevelopmentDiane RyanVice President of Academic AffairsEmily WeinackerChief Human Resources OfficerDISTRICT GOVERNING BOARDRay SigafoosBoard SecretaryDistrict 1Deb McCaslandBoard ChairDistrict 2Paul ChevalierDistrict 3Chris KuknyoDistrict 4Mitch PadillaDistrict 5Badger, Bagdad, Castle HotSprings 1 and 2, Congress,Copper Basin, HiddenValley, Hillside, Holiday/WellFargo, Kirkland, Mile High,Miller Valley East and West,Montana, Mountain Club,Northside, Pine Knoll, PineLakes, Ponderosa, PrescottHeights, Prescott Northwest,Prescott South, PrescottSouthwest, Prescott West,Rincon, Rose Lakes, Senator,Skull Valley, Taylor Hicks,Thumb Butte/Dearing Pk,Walnut Grove, White Spar,and YarnellAqua Fria, Beaver Creek,Camp Verde 1 and 2,Canyon, Cherry Creek, CordesLakes, Cornville, Crown King,Humboldt, Mayer, MiddleVerde, Montezuma, PrescottCountry Club, Stoneridge,Sugarloaf and Verde LakesBig Park, Bridgeport 1 and2, Clarkdale, Clemenceau,Coffee Pot, Cottonwood, Fir,Jacks Canyon, Jerome 1 and2, Mingus, Orchard, QuailSprings, Red Rock 1 and2, Red Rock East, Red RockWest, Verde Village, Western,and Wild HorseAntelope, Ashfork, Big Chino,Camp Wood, Chino Valley 1and 2, Country Park, Cougar,Coyote Springs, Deep Well,Drake, Granite, Perkinsville,Pinon Oaks, Sandretto,Seligman, Shadow Valley,Spruce, Williamson Valley,West Chino, and WillowCastle, Diamond Valley,Glassford, Granville, GroomCreek, Horseshoe, Lynx Creek,Mountain View, Prescott Valley1/Navajo, Prescott Valley 2,Pronghorn View, Roundup,Superstition, and Yavapai Hills6Yavapai College Fiscal Year 2023 Budget-in-Brief
FISCAL YEAR 49150-29923%300-44921%450 8%20%0%AVERAGECASELOADCreate Early College Academy16%5%3%2-YEAR292SOURCE: TYTON PARTNERSAdvisor Case LoadOver the past decade, YC has lowered the amount of studentsper advisor from 900 to a little over 500. However, our peers aremoving even faster: the average case load is just under 300, with25% of community college advisors helping only 150 studentseach! Lowering the caseload, allows the quantity and quality ofadvising to improve, which leads to an improvement in retentionand completion. We will add several positions to lower this ratio,and train them in the best practices we learned from InsideTrack.YC has great partnerships with high schools, and together weprovide opportunities for high school students to earn collegecredits through dual credit classes taught by high school teachersin the high school and concurrent credit classes taught bycollege faculty primarily at the college. These programs are highlysuccessful, saving families 1.5M per year in college tuition andallowing the average Yavapai County high school graduateto begin college with 10 college credits. To supplement thesesuccessful programs, we envision an Early College Academy inwhich some high school students will take all college classesduring the junior and senior years of high school in order to earnan Associate’s degree (60 credits) by the time they complete theirhigh school diploma.Baccalaureate DegreesIn the last legislative session, AZ gave community colleges theability to offer baccalaureate degrees. In FY22, the Collegeworked with EMSI to identify the 4-year degrees that are mostneeded. In FY23, we will develop the curriculum and seekapproval to offer these degrees beginning in FY24.Offer more programs via 8-week coursesExpand YC PromiseLaunched in FY20, the YC Promise scholarship reimburses out-ofpocket tuition recent high school graduates who complete theirdegree within 2 years. In FY23, YC will expand this scholarshipopportunity to any county resident who earns a degree in aCareer Technical Education field within 2 years. If a collegedegree is required to enter the field and the job pays a livingwage. This allows residents to upskill and become qualified toapply for more living wage jobs, while making Yavapai County amore attractive location for businesses to expand or re-locate byexpanding the pool of talented candidates.Community College students tend to be different that universitystudents, with many more students who have other life obligationssuch as family and/ or work obligations. With this in mind, manycolleges have started offering more 8-week term courses. Studieshave shown students experience equal or greater success in thisdelivery format, perhaps because there is less time for “life to getin the way.”Offer more OER coursesStudents do better in class when they have access to the courselearning materials. However, many students on a budget cannotafford the book. Open Educational Resources allow colleges toprovide learning materials for low cost or no cost.For a full list of College-wide initiatives, please see the Strategic Plan chapter ofYavapai College’s Fiscal Year 2022-2023 BudgetYavapai College Fiscal Year 2023 Budget-in-Brief7
BUDGETED REVENUESYavapai College has a diversified revenuestructure consisting of local property taxes,student tuition and fees, federal and state aid,and other institutionally generated revenues.SOURCESAMOUNTLocal Property TaxesTuition & Fees11,860,000State GovernmentFederal GovernmentOther8%TOTAL 86,084,600Local Property TaxesTuition & Fees14%8Yavapai College Fiscal Year 2023 herFederal GovernmentStateGovernment 49,860,10058%
Property TaxesAs the State reduced support for community colleges, local businesses andresidents generously made up the difference with property taxes. Having saidthat, YC property taxes are still very reasonable. Per taxfoundation.org, AZ has 11th lowest business property tax. Per wallethub.com, AZ has 13th lowest residential realestate taxes YC property tax rates are near the average for AZ Community CollegesAs part of the annual budget process of the College, the District Governing Board may increase the tax levy by 2%.Through sound Fiscal Stewardship, YC has been able to limit increases to 2% every 3rd year over the past decade.PRIMARY LEVY(Millions) 52 48 44 40 36 32 28 24 2013-1414-1515-16Prior Year16-1717-1818-192% Increase19-2020-2121-2222-23New ConstructionYavapai College Fiscal Year 2023 Budget-in-Brief9
Tuition & FeesIn accordance with the Constitution of Arizona, YC strives tokeep tuition as low as possible without impairing the qualityof programs and services. 98PER CREDITYavapai County’s median income is 21% below the nationalaverage. YC tuition is purposefully set 25% below its nationalcommunity college peers (40% for full time students) to keepthe college dream affordable and accessible. In addition, YCoffers scholarships and discounts to support strategic goals:25% BELOW THE Roughly 1.5M in discounts to high school students taking college coursesNATIONAL AVERAGE YC Promise scholarship is now available to all Yavapai County residents whocomplete a career technical education degree within two years 20% discount to encourage students to attend full time 50% discount to older residents as a thank you for their financial support theypay in property taxes 50% discount for high school students taking online college coursesCost Comparison:Annual Tuition & Fees30 Credits/FY2022 2,352Yavapai College Tuition 3,800National Community College average 12,571Arizona 4-Year University average10Yavapai College Fiscal Year 2023 Budget-in-Brief
State GovernmentState appropriations are monies received from the State of Arizona. The monies areused to support operations and specific programs within the College.REVENUE SOURCESAMOUNTMaintenance 300,400Rural Community College Aid1,843,400Science Technology Engineering &Math (STEM)611,100Prop 301 (to invest in WorkforceDevelopment programs)1,250,000Prop 207 (workforce development,job training, CTE, STEM)2,000,000Adult Basic EducationArizona has steadily defundedcommunity colleges over thepast 30 years. Today YC receives8% of its total revenues fromthe state. Only 3.5% of itsunrestricted revenues come fromthe state.300,000ARIZONA DEFUNDED COMMUNITY COLLEGES(State Appropriations/ Unrestricted 97-982007-082017-183.5%2022-23Yavapai College Fiscal Year 2023 Budget-in-Brief11
BUDGETED EXPENDITURES BY FUNDGeneral Fund: This fund reflects the operatingbudget needed to conduct the day to day businessof the College.FUNDGeneralthat were given to the College on the condition theybe used for a specific purpose, such as gifts, grants,or uxiliary5,543,100TOTALDebt Fund: This fund tracks the issuance orrepayment of principal, interest, and other relatedfees for long term debt. 89,563,100Auxiliary6%Capital (Plant) Fund: This fund records largePlantimprovements in building, infrastructure, andgrounds, which are then depreciated over time.expenses for non-core services provided to students,employees, and the general public. 54,908,300RestrictedRestricted Fund: This fund accounts for moniesAuxiliaries Fund: This fund tracks revenues andAMOUNT11%Debt1%General61%Restricted21%12Yavapai College Fiscal Year 2023 Budget-in-Brief
General FundThis fund reflects the operating budget needed to conduct the day-to-daybusiness of the College.Instruction: Educational activities that occur in the classroomInstitutional Support: Those administrative functions neededto plan and manage the college including executives, accounting,human resources, information technology, marketing, etc.or lab.Public Service: Non-instructional activities which primarilybenefit people external to the institution such as YCPAC.Facilities: Those activities associated with the operations of thecollege’s physical facilities including maintenance, grounds, andcustodial services.Student Services: Support services to recruit students andhelp them enroll in the right program of study, as well as activitiesthat support the students’ development outside of the classroom.Scholarships: Financial aid awarded to students to lower theircosts of attending college.Academic Support: Those services which directly supportInstruction such as libraries, galleries, deans, and audio-visual.GENERAL FUND BUDGETby Program 2022-2023 25,000,000 20,000,00015,000,000 10,000,000yinntCoicblPugervSerslahonci cephiiesilitScerStudentSlSnatiotuInstiFacv icpoupppSuicemadAcestornt ioucstrInrt 5,000,000Yavapai College Fiscal Year 2023 Budget-in-Brief13
Restricted FundThis fund accounts for monies that were given to the College on the conditionthey be used for a specific purpose, such as gifts, grants, or contracts.This year, the College brought 26.6M of revenues tobe spent in Yavapai County.State26%PrivateFederal Financial Aid is money to help students payfor College. This includes a host of programs such as:8% Federal Pell Grants Federal Work-StudyFederalFinancial AidFederalOther26%40% Federal Direct Loans Federal Plus Loans Federal VA Benefits Federal CARES scholarships for students impactedby COVID-19Other grants support workforce development programs,provide Adult Basic Education for students wishingto earn their General Equivalency Diploma (GED),encourage first-generation college students to enroll,prevent substance abuse, and create lifelong learningopportunities for older adults.14Yavapai College Fiscal Year 2023 Budget-in-Brief
Debt FundThis fund tracks the issuance or repayment of principal, interest, and otherrelated fees for long term debt.Credit RatingsYavapai College’s GO Bonds have been rated Aa2 from Moody’s and AA- from S&P. These strong ratings indicate theseinvestment experts believe that YC is a good credit risk, with a stable financial outlook and sound fiscal practices.LONG TERM DEBTActual and Projected Principal Payments 15,000,000 10,000,000201720 -181820 -191920 -202020 -212120 -222220 -232320 -242420 -252520 -262620 -2727-28 0Revenues Bonds, Projected (Final Payment 6/30/28)Revenue Bonds, ActualYavapai College Fiscal Year 2023 Budget-in-Brief15
Capital (Plant) FundThis fund records large improvements in building, infrastructure, and grounds,which are then depreciated over time.There are 3 primary components of the Capital Fund:Planned Maintenance, Equipment, and Capital Improvement Projects.Planned MaintenanceFY2022-23 Capital Improvement ProjectsYavapai College reinvests 4M in its buildings and infrastructureon an annual basis. We do this because it extends the usefullife of our buildings and lowers our Total Costs of Ownership. YChas been working with Sightlines, a firm specializing in highereducation facilities. Per their independent assessment of Net AssetValue, (NAV), our buildings are 89% as good as new, placing YC inthe top decile of colleges and universities. Verde Valley Campus Signage Continuation of project toincrease site visibility by installing electronic marquee adjacentto major highways.EquipmentYC also reinvests 2.1M annually in equipment to help employeesremain productive and to provide students access to the tools theywill encounter when they enter the workforce.16Yavapai College Fiscal Year 2023 Budget-in-Brief Rider Diner Upgrade lighting, electrical, and furniture. Mingus Union Athletic Fields Invest in athletic fields to allowportion of YC season to be played in VV. VVSTC Expand CTE capabilities for Brewing and Distilling toaugment our SWC. CDL Track Build 27000 sq ft track to allow for AZ DOT testing aswe grow program to meet local demand.
Yavapai College Fiscal Year 2023 Budget-in-Brief17
Auxiliary FundThis fund tracks revenues and expenses for non-core servicesprovided to students, employees, and the general public.Residence Halls: YC has 220 beds on its Prescott CampusFood Services: YC contracts with food service experts to operate the cafeteria and café on thePrescott campus, and a Grab and Go self-service convenience store at CTEC. Both the snack bar atthe Verde campus and a café in Sedona are run in-house.Bookstore: YC contracts with Follett to provide books, educational supplies, andbranded items.Family Enrichment Center: YC operates a preschool as a hands-on learning lab for adultstudents in our Early Childhood Education program.Southwest Wine Center: YC students cultivate 12 varieties of grapes on 13 acres, making YCone of the few academic Estate Wineries in the country. The annual harvests are converted intoaward-winning wines and marketed in the Tasting Room of the SWC.Residence HallsCommunity Events: YC offers a variety of community events throughout the county. This includesperformances by the college Music and Theater departments, as well as sponsoring nationallytouring artists. The majority of events are held at the 1100 seat Yavapai College Performing ArtsCenter but also have been held in a variety of venues, including the Mabery Pavilion at the YCVerde Valley Campus and the Sedona Performing Arts Center.Each year, approximately 13,000 grade and middle school students attend the Curtain up!Education series which features 5-7 shows designed to engage students with the arts and enhancetheir educational experience.AUXILIARIES BUDGETED SURPLUS/ (DEFICIT)Without Overhead AllocationFY2022-23 500,000 400,000 300,000Food Services 200,000 100,000 0 (100,000) (200,000) DCsouSBlelisceanMBookstore18Yavapai College Fiscal Year 2023 Budget-in-Brief
Family Enrichment CenterSouthwest Wine CenterCommunity EventsYavapai College Fiscal Year 2023 Budget-in-Brief19
Office of Vice President of Finance and Administrative Services1100 East Sheldon Street , Prescott, Arizona 86301(928) 445.7300 www.yc.eduPREPARED BY:Frank D’Angelo, ControllerClint Ewell, Vice PresidentAmy Fruchter, Graphic DesignerTom Hughes, Director of Institutional Effectiveness & ResearchDuane Ransom, Budget DirectorIvonne Zuniga, CoordinatorThe purpose of this Budget-in-Brief is to give the college community an overview of the FY2023 Budget.More information can be found on the college’s website:www.yc.edu/budgetYC 230-22
College Promise program to serve not only graduates right out of high school but also adult learners pursuing career and technical degrees. The College Promise refunds student out-of-pocket expenses for tuition. We are continuing our full-time student discount and our senior discount and, this year, reduced the cost for students in high school who
