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College finance officer reports early FY26 numbers; board approves finance update
Summary
Vice President Christine Goldsmith presented early FY26 financials to the board, noting seasonally low revenues at the start of the fiscal year, inclusion of a $36 per‑credit facility fee in tuition and fees, and equipment timing that affected early expense totals.
Christine Goldsmith, vice president for finance, presented the colleges early fiscal year 2026 financials representing July and August activity. She said the reporting period reflects 16% of the fiscal year and described the ordinary seasonal pattern of low early‑year revenues and outflows as the fall term begins.
Goldsmith noted a new $36 per‑credit facility fee is now included in the tuition and fees line and that this fee accounted for a small portion of early receipts. She described a one‑time timing effect in which significant equipment purchases and associated reimbursements were recorded in July, which increased equipment expense percentages in the July/August snapshot; she said state reimbursements for those items are expected to follow.
On fund balance, Goldsmith reported a combined fund balance figure and said staff would watch patterns as enrollment and operating activity progress through the year. She outlined plans to align future budget reporting with strategic plan items so the board can review operational results and strategic investments together.
Board members asked follow‑up questions about the reporting lag in the district "rainbow" reports and the nature of the equipment charges; Goldsmith explained the lag and said the equipment largely related to prior purchases that posted in July.
The board moved, seconded and voted to approve the finance report.
