FY 2018 Funding Formula Booklet 2_21_18

Summary of Community and Junior College Support S.B. 2964 – CJC Support Appropriation - Effective 07/01/17. Signed 04/18/17 S.B. 2964 is an appropriation for the aid and support of the 15 public community and junior colleges for FY 2018 in the total amount of $231,462,911 . Of that amount, $190,424,570 is from the General Fund; $40,658,341 is provided from the one-cent Education Enhancement Fund to the formula; $0 from the Capital Expense, and $380,000 in health insurance carryover funds. When compared to the FY 2017 appropriation of $259,511,217, the decrease of - $28,048,306 or -10.81% results primarily from a General Fund decrease of - $21,623,362 or - 10.20% , an Education Enhancement Fund decrease of - $104,944 or -0.26% , a special fund Health & Life Insurance Carryover fund decrease of - $1,320,000 and a $5,000,000 or 100.0% decrease in the Capital Expense Fund. Appropriations Bills FY 2018

purpose of operating Workforce Development Centers at each public community and junior colleges. Each institution will receive $300,000 to provide staff and other costs incurred for the purposes of assessment, training, and placement services to individuals and workplace training and upgrading of local industry (Section 10). Sign Language Interpreter Training – Section 11 of S.B. 2964 appropriates $179,050 to the Mississippi Community College Board for the purpose of defraying the cost of the Sign Language Interpreter Training Program. These general funds allow Hinds, Itawamba, and

them with an additional weight of 1.19. A Virtual section was added in FY 2005 to the FTE formula and continues in FY 2017. Formula funds total $187,941,779 ($147,283,438 GF and $40,658,341 EEF) and decreased by $23,048,306 in FY 2018. Of this decrease, general funds decreased by an astounding -$22,943,362 and EEF decreased by -$104,944 . Health and Life Insurance – Section 8 appropriates $23,556,000 from the general fund and Section 9 appropriates $380,000 from the Insurance Carryover Fund 3295 (special insurance premiums will remain at $356 per employee per month in FY 2018. The amount of the general fund health insurance line item increased by $1,320,000 -- from $22,236,000 in FY 2017, while the Insurance Carryover Special Fund increased by the same amount of $1,320,000. Workforce Development Centers - The Legislature appropriated $4,500,000 for the

the weights for the FTE formula. The base remains at 15% of the prior year appropriation. After FY 2007, the hold harmless mechanism in the formula ended. The formula continues to consider associate degree nursing and all associate degree allied health programs as high cost and awards

fund) for life and health insurance through the State and School Employees’ Life and Health Insurance Plan for all community and junior college employees. Community and junior colleges are expected spend down all but $380,000 in FY2017 for a balance that is allowed to be carried forward in FY 2018. Life insurance premiums are $0.09 per $1,000 of coverage. Health

The employer contribution rate for retirement will remain at 15.75% in FY 2018. Formula – In FY 2008 the FTE formula was fully phased-in. Section 3 of the bill sets

9