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The Community College of Baltimore County
Comprehensive Annual Financial Report
The incredible value of education. www.ccbcmd.edu
For the Fiscal Year Ended June 30, 2012 A Component Unit of Baltimore County, Maryland
comprehensiveannual financial report
For the Fiscal Year Ended June 30, 2012
The Community Collegeof Baltimore County
A component unit of Baltimore County, Maryland
Prepared by:
Office of Finance
MCM LV I I
MissionThe Community College of Baltimore County provides
an accessible, affordable and high-quality education that
prepares students for transfer and career success, strengthens
the regional work force and enriches our community.
VisionWe will be the institution of choice for students, where
together we make teaching purposeful, learning powerful,
and community paramount.
ValuesLearning
Responsibility
Integrity
Inclusiveness
Excellence
______________________________________________________________________________
TABLE OF CONTENTS
Introductory Section Letter of Transmittal ............................................................................................................................................................. i
Strategic Plan Overview .................................................................................................................................................... vii
Board of Trustees ............................................................................................................................................................... xii
Principal Officials ............................................................................................................................................................. xiii
Certificate of Achievement ............................................................................................................................................... xiv
Financial Section Independent Auditor‟s Report ............................................................................................................................................. 1
Management‟s Discussion and Analysis ............................................................................................................................. 3
Basic Financial Statements Statement of Net Assets ..................................................................................................................................................... 22
Statement of Revenues, Expenses and Changes in Net Assets .......................................................................................... 23
Statement of Cash Flows ................................................................................................................................................... 24
Summary of Significant Accounting Policies .................................................................................................................... 25
Notes to Financial Statements ........................................................................................................................................... 32
Required Supplementary Information Schedule of Funding Progress (OPEB) for Other Postemployment Benefits ..................................................................... 51
Other Supplementary Information Comparison of Actual and Budget Revenue for Unrestricted Current Funds .................................................................... 52
Comparison of Budget Basis Expenditures and Encumbrances with
Budgeted Appropriations – Unrestricted Current Funds ................................................................................................... 53
Operations of Auxiliary Enterprises .................................................................................................................................. 54
Schedule of Full-Time Equivalent Students ...................................................................................................................... 55
Statistical Section Full-Time Equivalent Students .......................................................................................................................................... 58
Unrestricted Funds – Comparison of Revenues to Expenditures, Encumbrances and
Transfers by Function (Budgetary Basis) ....................................................................................................................... 59
Net Assets ........................................................................................................................................................................... 61
Changes in Net Assets ........................................................................................................................................................ 61
Credit Tuition and Fees per Credit Hour ........................................................................................................................... 63
Schedule of Capital Asset Information .............................................................................................................................. 64
Schedule of Capital Leases ................................................................................................................................................ 65
Schedule of Operating Indicators – Level of Service ........................................................................................................ 65
Principal Employers – Baltimore County, Maryland ......................................................................................................... 66
Net Assets by Component – Baltimore County, Maryland ................................................................................................ 67
Fund Balances of Governmental Funds – Baltimore County, Maryland ............................................................................ 69
Changes in Net Assets – Baltimore County, Maryland ..................................................................................................... 71
Legal Debt Margin – Baltimore County, Maryland ........................................................................................................... 75
General Fund Tax Revenues by Source – Baltimore County, Maryland ........................................................................... 77
Property Tax Levies & Collections – Baltimore County, Maryland ................................................................................. 77
Property Tax Rates – Direct and Overlapping Governments – Baltimore County, Maryland ........................................... 78
Taxable Assessed Value and Estimated Actual Value of Taxable Property – Baltimore County, Maryland .................... 78
Principal Property Taxpayers – Baltimore County, Maryland ........................................................................................... 79
Demographic and Economic Statistics – Baltimore County, Maryland ............................................................................ 79
Ratios of Metropolitan District (MD)/Consolidated Public Improvement (CPI) General Obligation (GO) Debt to
Estimated Actual Value of Property and MD/CPI GO Debt Per Capita – Baltimore County, Maryland .......................... 80
Full-Time Equivalent County Government Employees by Function – Baltimore County, Maryland ............................... 81
CCBCThe Community College
of Baltimore County
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introductorysection
MCM LV I I
F Y 2 0 1 1 - F Y 2 0 1 3S t r a t e g i c D i r e c t i o n s
i student success
ii teaching and learning
excellence
iii organizational excellence
iv community engagement
i
December 1, 2012
Board of Trustees
The Community College of
Baltimore County
We are pleased to submit the
Comprehensive Annual Financial
Report (CAFR) of the Community
College of Baltimore County
(CCBC) for the fiscal year ended
June 30, 2012.
We believe the financial statements
and data are accurate in all material
respects, and are presented in a
manner designed to fairly reflect the
College‟s financial position and
changes in financial position. The
management of CCBC is responsible
for both the accuracy of the
presented data and the completeness
and fairness of the presentation. We
believe that all disclosures necessary
to enable the reader to gain the
maximum understanding of CCBC‟s
financial affairs have been included
in this document.
CCBC is responsible for establishing
and maintaining an internal control
structure designed to ensure that the
College‟s assets are protected from
loss, theft or misuse and to ensure
that adequate accounting data are
compiled to allow for the preparation
of financial statements in conformity
with generally accepted accounting
principles as applicable to colleges in
the United States. The internal
control structure is designed to
provide reasonable, but not absolute
assurance that these objectives are
met. The concept of reasonable
assurance recognizes that (1) the cost
of a control should not exceed the
benefits likely to be derived; and (2)
the valuation of costs and benefits
requires estimates and judgment by
management.
The independent certified public
accounting firm of
CliftonLarsonAllen LLP (formerly
known as Clifton Gunderson), in
accordance with the laws of the State
of Maryland, has audited CCBC‟s
financial statements. They have
issued an unqualified “clean”
opinion. The independent auditor‟s
report is located at the beginning of
the financial section of this report.
CCBC‟s financial statements have
also been audited in accordance with
the provisions contained in the U.S.
Office of Management and Budget‟s
Circular A-133. This audit is
conducted in accordance with
generally accepted government
auditing standards, and the related
“single audit” report includes
schedules of federal financial
assistance, a report on internal
controls and compliance with laws
and regulations, and a schedule of
findings. CCBC‟s single audit report
has been separately issued and is not
included herein.
Management‟s discussion and
analysis (MD&A) immediately
follows the independent auditor‟s
report and provides a narrative
introduction, overview, and an
analysis of the basic financial
statements. The MD&A
complements this letter of transmittal
and should be read in conjunction
with it.
____________________________________________________________________________
ii
Profile of the Entity CCBC is considered a “body politic” under
Maryland state law as an instrumentality of
the State of Maryland and is governed by a
15 member Board of Trustees who are
appointed for five-year terms by the
governor of Maryland with the advice and
consent of the State Senate.
CCBC was formed on October 1, 1998 by
state legislation. This legislation combined
three separate colleges, Catonsville,
Dundalk and Essex Community Colleges,
into one college. Currently, CCBC offers
credit and non-credit courses at three
campuses - Catonsville, Dundalk and Essex,
and three extension centers located in
Owings Mills, Randallstown and Hunt
Valley. CCBC is the largest community
college in Maryland serving 70,951 students
in FY2012.
In accordance with Governmental
Accounting Standards Board Statement No.
39, Determining Whether Certain
Organizations are Component Units, the
foundation that is affiliated with CCBC is
discretely presented herein as a component
unit. This component unit is reported
separately within the College‟s financial
statements to emphasize that it is legally
separate from the College. Effective July 1,
2011, the CCBC Essex Foundation merged
with the CCBC Foundation. The information
presented hereafter presents the combined
CCBC Foundation.
CCBC is not a Baltimore County (County),
Maryland agency. However, as a result of
its relationship with the County, CCBC is
considered to be a component unit of the
County and its financial statements are
included in the County‟s Basic Financial
Statements in accordance with generally
accepted accounting principles.
CCBC is required under the laws of the
State of Maryland to submit an annual
budget for all of its operating funds. Prior to
submission to the State, the Baltimore
County Council must first adopt the budget
into law.
Internal controls over the budget process are
incorporated within the accounting system.
Quarterly financial reports are prepared and
presented to the Board of Trustees during
the fiscal year. CCBC engages in proactive
budget management year round.
Additionally, organizational managers are
responsible for assuring that expenditures
remain within appropriation balances by
category.
Economic Environment Baltimore County is situated in the
geographic center of Maryland, surrounding
the City of Baltimore almost entirely. The
County is the largest jurisdiction in the
Baltimore metropolitan area. (The City of
Baltimore and the County are entirely
separate political units.) The County‟s
overall population grew by 6.7% from 2000
to 2010. This increase is based mostly in
two targeted growth areas – White Marsh
and Owings Mills.
The economic condition of the County has a
direct and significant effect on CCBC. For
example, 73% of credit students who
attended CCBC during FY2012 were
Baltimore County residents. In addition,
Baltimore County Government provides
significant revenue appropriations to CCBC
in the form of direct aid (approximately 22%
of CCBC‟s annual operating budget
excluding grant sources).
____________________________________________________________________________
iii
Baltimore County, with an estimated
population of approximately 805,029,
contributes approximately 423,480
participants to the region‟s labor force. The
County‟s economy is integrated with other
jurisdictions in the Baltimore metropolitan
area, as evidenced by the degree of inter-
jurisdictional commuting.
As of May 2012, Baltimore County‟s
unemployment rate was 7.5%. Even though
this rate is higher than the Maryland rate of
7.0%, Baltimore County‟s unemployment
rate still remains a point below the national
rate of 8.5%.
Within the “25 or older” age category, more
than 40% of the County‟s population holds
an Associate‟s degree or higher. Thus,
Baltimore County‟s workforce continues to
be a major asset for economic development
attraction for many business sectors.
Baltimore County enjoys a diverse
economic base, ranging from trade
transportation and utilities, education and
health services and governmental business
sectors. The County‟s 21,309 businesses
employ 423,480 workers. Major employers
include Franklin Square Hospital, Greater
Baltimore Medical Center, St. Joseph
Medical Center, Erickson Retirement
Communities, Sheppard Pratt Health
Systems, T. Rowe Price and McCormick &
Company, Inc. Additionally, the Social
Security Administration and Centers for
Medicare and Medicaid headquarters
together employ 16,000 federal workers.
Major Initiatives and Highlights The following paragraphs present several
initiatives and highlights from this eventful
year.
Middle States Reaccreditation Confirmed
The Middle States Commission on Higher
Education accredits degree-granting colleges
and universities in the Middle States region,
which includes Delaware, the District of
Columbia, Maryland, New Jersey, New
York, Pennsylvania, Puerto Rico, the U.S.
Virgin Islands, and several locations
internationally.
The Commission is a voluntary, non-
governmental, membership association that
defines, maintains, and promotes
educational excellence across institutions
with diverse missions, student populations,
and resources. It examines each institution
as a whole, rather than specific programs
within institutions.
At least once every ten years, a college is
evaluated to determine its continued
accreditation. The process includes a
rigorous internal self-study that usually
takes two years to complete. The evaluation
standards include measures of institutional
context (i.e. the College‟s mission, goals and
resources) and educational effectiveness (i.e.
student admissions and retention and student
support services).
In FY2012, CCBC completed its written
self-study and submitted it to the
Commission. A team of higher education
professionals from other institutions in the
Middle States Region evaluated CCBC and
its self-study in a visit in April, 2012. The
results have been received and CCBC is
has met all 14 standards of Excellence, an
increasingly rare accolade in a national
accreditation environment which
demands more rigorous assessment. In
the accreditation parlance of today, this
rating is equivalent to an A+.
____________________________________________________________________________
iv
Completion Agenda is Preeminent
President Barack Obama has set forth an
ambitious agenda for U.S. postsecondary
education to have the highest
proportion of college graduates
in the world by 2020. In the fall
of 2011, CCBC was awarded a
Title III grant to support its
goal of increasing student
engagement, persistence, and
completion rates. The award of
this grant enables CCBC to
expand its ongoing efforts to
address these success indicators
and to engage in a continuous
feedback loop through well-
defined evaluative criteria.
With its rigorous
developmental education and
student support goals, this grant
strengthens the initiatives of the
Achieving the Dream project and positions
the College to institutionalize practices of
success.
Recognized as one of the fastest-growing
colleges in the United States, one of the
nation‟s top 100 associate degree producers,
and Maryland‟s top transfer preparation
school, CCBC is poised to make a
considerable impact on the national and state
Completion Agenda to significantly increase
the number of degree, certificate and
credential completers. CCBC‟s completion
initiatives are summarized on the website.
http://www.ccbcmd.edu/commitment/index.
html
Information taken from the website:
Here are the facts:
Students who earn their associate degree
or certificate can expect to earn as much
as $8,000 more per year and about
$500,000 more in a lifetime than a high
school graduate.
People change jobs up to 10
times in their working lives –
and when you are job-
hunting, a college credential
will always give you an edge.
Credential holders are more
likely to keep their jobs.
Unemployment for
community college graduates
is typically 30 percent lower
than for high school grads.
College graduates tend to live
longer, healthier lives and the
children of college graduates
are more likely to graduate
themselves.
It is for these and many other reasons that in
FY2011 and FY2012 CCBC has developed
a comprehensive Completion Agenda
designed to maximize student success
through assessing outcomes, testing
innovations, expanding best practices and
fostering a culture of continuous
improvement.
More Capital Improvements at CCBC
CCBC has continued its aggressive capital
agenda. It serves about 70,000 students in
facilities totaling 1.6 million gross square
feet. Demonstrating the recent effort to
improve facilities, CCBC had about $221
million of construction projects in progress
as of June 30, 2012.
In FY2012, $6.2 million of renovations to
the library, café, bookstore and student
success center at CCBC Dundalk were
completed and made available for use.
____________________________________________________________________________
v
In the summer of 2010, CCBC began a
multi-phased project to renovate the Science
and Math building at CCBC Essex. Funds
were provided by County and State
appropriations as well as by CCBC‟s
operating funds. This $15.6 million project
was completed and opened for the fall 2012
session.
In FY2012, the one stop enrollment center at
CCBC Catonsville was completed. The
project was to centralize enrollment services
to best serve the student population. The
project cost was $1.3 million.
CCBC‟s Owings Mills project is making
good progress and is scheduled to open the
summer of 2013. The cost of this facility is
$27 million and will replace the existing
leased space at Owings Mills. The facility,
which will be shared with Baltimore County
Library, is programmed at 46,175 net
assignable square feet and will include
science labs, computer labs, smart
classrooms, offices, a bookstore, food
services, study areas, and storage areas.
CCBC Campus Smoke/Tobacco Free
The Board of Trustees has implemented a
tobacco-free policy effective July 1, 2012
that designates that the core of each campus
be smoke and tobacco free. In support of
this policy, the wellness center will continue
to facilitate cessation classes designed to
help users reduce or eliminate the use of
tobacco products. The classes are open to all
college employees and students at no cost.
This policy is supported by the
overwhelming evidence as presented by the
Center for Disease Control, the National
Institute of Health, the Surgeon General of
the United States, and the American Lung
Association, regarding the health effects of
tobacco use, smoking, and passive smoke.
This tobacco-free policy enables CCBC to
better support the State of Maryland Clean
Air Act of December 2007. This shift in
college policy better aligns CCBC with
similar policies of its funding agencies: The
State of Maryland and Baltimore County
governments, as well as Baltimore County
Public Schools. This new policy is similar
to the tobacco-free policies at other area
institutions, like Montgomery College,
Towson University, Howard Community
College, and Carroll Community College.
CCBC plays a key educational role in
promoting the lifelong intellectual and
physical health and well-being of its
citizens.
Sustainability at CCBC
CCBC has developed a Sustainability
Committee that endeavors to reduce the rate
at which the College contributes to the
depletion and degradation of natural
resources while also increasing its use of
renewable resources. It is the mission of the
Sustainability Committee to incorporate
concepts of sustainability into all aspects of
the academic and daily affairs of the
College. The College continues to make
great strides in the areas of climate change
and energy, consumption habits,
transportation and green building. CCBC
strives to “meet the needs of the present
without compromising the quality of life for
future generations.”
Merging of two CCBC Foundations
To complete the transition to “one college”,
the CCBC Essex Foundation merged with
the CCBC Foundation on July 1, 2011. This
merger allowed the pooling of resources to
promote unity amongst all facets of the
College – not just campus by campus, but
for the College as a whole. The combined
net assets of the Foundation total $8.8
million.
7
____________________________________________________________________________
vi
Fiscal Management CCBC is dedicated to making sure that budgets and budget processes are constantly reviewed, given the current fiscal climate. With fewer resources, CCBC actively manages the budgetary needs by being proactive and having open communication with its budget managers. CCBC works closely with the County to develop the changing needs of the College by requesting mid-year budget adjustments when necessary. Additionally, CCBC actively manages its expenses including operational staffing to ensure that budgetary targets are met. Since FY2008, CCBC has automatically “frozen” all non-faculty positions when they became vacant. Vacant positions were subject to review by senior management with prioritized periodic “thaws” which authorized the search for the replacement staff. At year end, approximately 80% of the vacancies were “thawed” and under search. Awards and Acknowledgements The Government Finance Officers Association of the United States and Canada (GFOA) awarded an annual Certificate of Achievement for Excellence in Financial Reporting to The Community College of Baltimore County for its comprehensive annual financial report for the fiscal year ended June 30, 2011. This was the 14th consecutive year that CCBC has received this prestigious award. In order to be awarded a Certificate of Achievement, a governmental unit must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive annual financial report continues to meet the Certificate of Achievement Program‟s requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. The development of this report on a timely basis could not be accomplished without the efficient and dedicated services of the entire staff of the CCBC Finance Office. I would like to express my appreciation to them and all other individuals who assisted in the timely preparation of this report. Respectfully submitted, Melissa L. Hopp Vice President of Administrative Services
____________________________________________________________________________
vii
Strategic Plan Overview EDUCATION from a 360° PERSPECTIVE
Mission Statement The Community College of Baltimore County provides an accessible, affordable and high-
quality education that prepares students for transfer and career success, strengthens the regional
work force and enriches our community.
Vision Statement We will be the institution of choice for students, where together we make teaching purposeful,
learning powerful, and community paramount.
Values
Learning: We celebrate learning and are committed to ensuring our students grow as learners,
develop a passion for lifelong learning, and use what they have learned to benefit the
community.
Responsibility: We encourage open and honest communication, fairness, mutual respect,
collegiality and civility in all college-related matters. We have high expectations for the work of
our employees, the academic rigor of our offerings, the scholarship of our students, and the
involvement of the community and the workplace in the college‟s future.
Integrity: We inspire public trust by maintaining ethical, honest and trustworthy relationships
with faculty, students, staff and community.
Inclusiveness: We welcome, respect and embrace the differences and similarities of our
employees, our students and the communities we proudly serve. We acknowledge the richness
of diversity and the dignity of all persons.
Excellence: We strive for personal and organizational improvement and the wise and prudent
management of our resources. We will continuously improve teaching and learning experiences
to meet or exceed the needs of the workplace and the highest expectations of our community.
____________________________________________________________________________
viii
CCBC Strategic Directions FY2011-FY2013 Student Success - We will guide students
to develop realistic and challenging goals
and provide appropriate student support
services to assist them in achieving their
goals, whether those goals lead to earning a
degree or certificate, obtaining transfer
credits, developing specific skills, or
enriching their personal lives.
We believe:
Individual student success is our
collective success.
Student success should be viewed as
a part of a continuum and series of
evolutionary events that form the
basis for lifelong learning.
Efforts to measure and track student
success must ultimately focus on
enhancing student outcomes.
The intellectual, cultural and
economic growth of individuals and
the community are direct outcomes
of student success.
Student success can be fostered both
within and outside of the classroom.
We will pursue the following goals and
continue to:
Make student success an ongoing
part of the college‟s daily work that
guides the college‟s efforts and
decision making.
Provide quality academic programs
that have depth and value and
challenge and develop the abilities of
all students.
Assure that outcomes, standards and
assessments reflect appropriate
academic criteria and/or industry-
based standards.
Challenge students using
intellectually rigorous teaching the
learning techniques to help them
meet academic standards and
expectations.
Support success for current and
prospective students by maintaining
student-oriented policies, practices
and programs.
Enrich whole-learning opportunities
for students by integrating student
development, service-to-community
and co-curricular initiatives with
academic activities.
Develop and incorporate high-
impact success strategies and
interventions for groups of learners
whose academic achievement is “at
risk”.
Provide regular faculty and staff
development opportunities to
support student success initiatives.
Measure and assess student
outcomes routinely, evaluate
multiple measures of student
achievement and success, and act
upon the results to improve student
outcomes.
Teaching and Learning Excellence –
We will provide and support a quality
educational experience for students by
ensuring state-of-the-art teaching that
combines outstanding faculty with
committed support and services staff.
We believe:
The strongest aspect of CCBC is its
emphasis on quality teaching and
learning.
Highly focused support services are
important for student entry, steady
progress and goal attainment.
All students, faculty and staff are
part of the teaching and learning
environment; all employees have a
responsibility to seek continuous and
measurable improvements in
____________________________________________________________________________
ix
programs and services that support
student success.
Student preparedness for and
engagement with higher education
are important in encouraging future
student success and lifelong
learning.
We will pursue the following goals and
continue to:
Provide effective services that will
attract, enroll, engage and retain
students.
Expand teaching and learning
initiatives to promote a student
success-centered environment.
Create supportive learning
environments to help students
identify and achieve their goals.
Provide a learning environment that
values diversity, multiculturalism,
global awareness and inclusiveness.
Encourage students to develop an
appreciation for lifelong learning,
personal development, and
educational and professional
advancement.
Create opportunities inside and
outside of the classroom for students
to examine their abilities, reflect on
their academic effort, and develop a
healthy approach to learning.
Maintain our strong commitment to
provide quality programming and
services that have currency and
market viability.
Provide rigorous, intellectually
challenging and relevant outcomes-
based curricula, and offer specialized
formats and instructional delivery
systems aligned with our mission.
Deliver instruction using the most
effective teaching methods to foster
successful learning outcomes.
Review and assess existing curricula,
services and programs based on
student, community and workplace
needs, and develop new curricula to
support areas of targeted growth.
Coordinate credit and non-credit
programming to meet student,
workplace, work force and
community needs.
Organizational Excellence – We will
promote an organizational culture that
encourages excellence and success by
developing and supporting individuals,
teams and processes that contribute to the
effective and responsible management of
teaching and learning, student success,
human resources, facilities, services,
technology and finances.
We believe:
Appropriate change and renewal
must occur at all levels of the
organization to improve operations
across the college.
Efficiency, effectiveness and „best
practices” must be woven throughout
our daily tasks, processes, operations
and programs.
Our work is important to the mission
and vision for the college, and all
employees should be encouraged and
provided with the tools and support
they need to succeed.
All employees should be recognized
for their contributions to the college
and be valued as individuals.
We will pursue the following goals and
continue to:
Rely on an effective planning
process and a system of continuous
assessment and improvement to
respond to and implement
appropriate change.
Provide the highest quality
managerial, administrative, and
____________________________________________________________________________
x
operational support for all strategic
directions to ensure organizational
viability and sustainability.
Align policies, evaluations,
processes and operations to ensure
appropriate consistency, fairness and
effectiveness across the college.
Support all levels of instruction.
Revitalize and enhance the physical
infrastructure, including buildings,
grounds, offices, classrooms,
campuses and sites.
Improve programs, services,
processes and operations by
upgrading technology in our
classrooms and office environments.
Maximize training and ongoing
support for all employees in the
effective use of technology needed to
perform their jobs.
Promote the personal and workplace
growth of all employees through
professional development and
opportunities.
Provide for safe, clean, secure and
respectful college environment for
our students, faculty, staff,
community and guests.
Utilize and build upon the rich
diversity of talents, skills and
perspectives of our students, faculty
and employees.
Improve communications to inform,
engage and involve our internal and
external communities.
Community Engagement – We will earn
the support and respect of our communities
by being a good neighbor and providing
beneficial learning experiences highly
valued by individuals, community
organizations, businesses, industries and the
county government.
We believe:
Earning and maintaining the support
of our communities by anticipating
and responding to their current and
future needs and interests is essential
to our mission.
Transparency and accountability to
our public and private supporters are
vital.
Respecting and honoring the close
attachments our unique communities
have to our individual campuses is
important in encouraging community
support and participation.
Continuous promotion and targeted
marketing for our programs and
services must be maintained to gain
student, community, business and
work force recognition.
Identifying and cultivating mutually
beneficial partnerships with
businesses, educational institutions,
not-for-profit organizations and
associations, and governmental
entities throughout the Greater
Baltimore region and the state are in
the best interests of CCBC.
We will pursue the following goals and
continue to:
Involve our communities and groups
within our communities as partners
in our mission.
Meet the educational needs of the
county and the region by offering
credit and non-credit programs and
courses that respond to the changing
needs of our communities.
Build community awareness,
participation and support through
communications, services,
partnerships, cultural events and
marketing to bring attention to the
college‟s local impact, value and
merit.
____________________________________________________________________________
xi
Expand our relationships and
partnerships with high schools and
transfer institutions.
Bring about a richer learning and
working environment for all by
supporting a college community that
embraces the diversity of our
communities.
Renew and expand our affiliations
and partnerships with college
sponsors, donors, alumni and
supporters.
Seek external funds for learning and
student success, support,
infrastructure renovations,
maintenance, development and
college sustainability efforts to
advance strategic initiatives.
The strategic plan is updated every three
years and the plan for FY2014-2016 is
underway.
____________________________________________________________________________
xii
Board of Trustees As of June 30, 2012
The Community College of Baltimore County (CCBC) is considered a “body politic” under
Maryland state law as an instrumentality of the State of Maryland. CCBC is operated in
accordance with legislation specified in the Annotated Code of Maryland, Education Article, and
Title 16. CCBC is governed by a Board of Trustees (Board) of 15 members who are appointed
for five-year terms by the Governor of Maryland with the advice and consent of the State Senate.
The Board elects a chair and vice-chair annually from the members. The president of CCBC
serves the Board as secretary-treasurer. The members receive no salary, except reimbursement
for expenses incurred in attending meetings or transacting business of the Board. The Board is
responsible for establishing policy governing CCBC and of exercising general control over the
College.
The Board meets on a regular basis, generally six times a year in meetings that are open to the
public. Occasionally, in accordance with State law, the Board meets in executive sessions, not
open to the public, to discuss matters such as personnel issues, legal issues or site acquisition. All
official decisions of the Board are voted on at scheduled public meetings.
The members of the Board as of June 30, 2012 and their councilmanic districts are as follows:
Members District
Chair: The Honorable Barbara Kerr Howe 5
Vice Chair: Charles E. Kountz, Jr., Esq. 1
Other
Members:
Sheldon K. Caplis 2
Michael P. Ertel
Dorothy E. Foos 5
3
H. Scott Gehring, Ed.D. at large
Linda C. Goldberg 2
James G. Gresham, Ed.D. 4
Warren C. Hayman, Ed.D. 4
Gloria K. McJilton 7
Cecile V. Myrick 6
Wayne McDowell 1
Gloria E. Nelson 7
Stephen J. Nolan, Esq. 3
Patricia R. Norman
6
xiii
Principal OfficialsAs of June 30, 2012
CCBCThe Community College
of Baltimore County
President
Vice President,Enrollment and Student Services
Vice President,Institutional
Advancement
Vice President, Administrative
Services
Vice President, Instruction
President: Dr. Sandra L. Kurtinitis
President's Staff
Vice President of Instruction: Dr. Mark McColloch
Vice President of Enrollment and Student Services: Dr. Richard Lilley
Vice President of Administrative Services: Melissa L. Hopp
Vice President of Institutional Advancement: Kenneth A. Westary
CCBCThe Community College
of Baltimore County
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CCBCThe Community College
of Baltimore County
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financialsection
MCM LV I I
F Y 2 0 1 1 - F Y 2 0 1 3S t r a t e g i c D i r e c t i o n s
i student success
CCBC will guide students to develop realistic and
challenging goals and provide appropriate student
support services to assist them in achieving their
goals, whether those goals lead to earning a degree or
certificate, obtaining transfer credits, developing specific
skills, or enriching their personal lives.
1
Independent Auditor’s Report Board of Trustees The Community College of Baltimore County Baltimore, Maryland We have audited the accompanying financial statements of the business-type activities and the aggregate discretely presented component units of The Community College of Baltimore County (a component unit of Baltimore County) as of and for the year ended June 30, 2012, which collectively comprise The Community College of Baltimore County’s basic financial statements as listed in the table of contents. These financial statements are the responsibility of The Community College of Baltimore County’s management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, based on our audit, the financial statements referred to above present fairly, in all material respects, the respective financial position of the business-type activities and the aggregate discretely presented component units of The Community College of Baltimore County as of June 30, 2012, and the respective changes in financial position and cash flows of its business-type activities and changes in net assets of its discretely presented component units, thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America. In accordance with Government Auditing Standards, we have also issued our report dated September 26, 2012 on our consideration of The Community College of Baltimore County’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit.
CliftonLarsonAllen LLP www.cliftonlarsonallen.com
2
Accounting principles generally accepted in the United States of America require that the Management’s Discussion and Analysis and Schedule of Funding Progress for Other Postemployment Benefits be presented to supplement the basic financial statements. Such information although not a part of the basic financial statements is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. However, we did not audit the information and express no opinion on it. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise The Community College of Baltimore County’s basic financial statements. The other supplementary information listed in the table of contents is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole. The other data, listed under the “Introductory” and “Statistical Section” in the table of contents, have not been subjected to the auditing procedures applied in the audit of the component unit financial statements and, accordingly, we express no opinion on them.
a Baltimore, Maryland September 26, 2012
____________________________________________________________________________
3
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012
This section of The Community College of Baltimore County‟s (College) basic financial
statements presents management‟s discussion and analysis (MD&A), providing an overview of
its financial activities as of and for the years ended June 30, 2012, 2011 and 2010. The intent of
this review is to look at the College‟s financial performance as a whole. This analysis should be
read in conjunction with the financial statements on pages 22 through 24, as well as the more
detailed information in the related notes to the financial statements on pages 25 through 50. The
MD&A, financial statements and the related notes are the responsibility of management.
This narrative explaining management‟s review and analysis of the June 30, 2012 financial
statements is divided into the following five parts:
An overview of all of the College‟s financial statements and financial highlights.
An analysis of the College‟s Statement of Net Assets.
An analysis of the College‟s Statement of Revenues, Expenses and Changes in Net
Assets.
A review of the conditions that may affect the College‟s future financial position.
An analysis of the CCBC Foundation (a Discretely Presented Component Unit) financial
activity.
OVERVIEW OF CCBC’S FINANCIAL STATEMENTS
The College‟s three basic financial statements are prescribed by the Governmental Accounting
Standards Board (GASB): the Statement of Net Assets, the Statement of Revenues, Expenses
and Changes in Net Assets, and the Statement of Cash Flows. These statements demonstrate the
net value of assets and the results of operations on a college-wide basis and include the results of
the CCBC Foundation, which is presented as a component unit in accordance with GASB 39.
The supplementary information section contains statements and schedules, which are
informational in their support to the college-wide financial statements. All statements are
prepared using the accrual basis of accounting similar to the accounting method used by most
private-sector companies. This accrual basis of accounting records all of the current year‟s
revenues and expenses regardless of when cash is received or paid.
The major impact on operations in FY2012 were the leveling off of the growth in student
enrollment, the continual stability of governmental support to the College, CCBC‟s efficiency
measures and the aggressive capital agenda to improve and maintain the learning facilities for the
students, faculty and staff.
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4
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012 Full-time Equivalent (FTE) Students - Total FY2012 student enrollment approximated actual
FY2011 FTE, but was 2.7% lower than budgeted FTE. Overall, CCBC‟s enrollment has grown
34.1% over the past four years. With the stabilization of enrollment in FY2012, we believe that
an education at CCBC remains attractively priced and maintains quality educational and training
opportunities.
The chart below reflects credit and non-credit student FTE for the last five years. It illustrates
the stabilization of the previously significant growth rate in FY2012 for credit and non-credit
enrollment.
Government Support/Appropriations – CCBC‟s mission is supported by “operating revenues”
which include tuition and fees, auxiliary sales, as well as “non-operating revenues” which
include state appropriations, county appropriations and grants. For FY2012, governmental
support has remained relatively stable with the increase in the state support created by CCBC‟s
allocation of the Keeping Education Affordable Grant in the amount of $728,018.
The following table illustrates that the support the College received from both the County and
State has remained stable over the last several years.
FY2012 FY2011 FY2010
2012/11 2011/10
State appropriations 34,398,366$ 33,670,348$ 34,524,096$ 2.2% -2.5%
County appropriations 38,462,795 38,262,795 38,332,055 0.5% -0.2%
Total 72,861,161$ 71,933,143$ 72,856,151$ 1.3% -1.3%
Percent Change
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5
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012 Cost Efficiencies – In FY2012 and prior years, CCBC has worked diligently to ensure that it is
cost efficient. CCBC employed various specific cost saving/sustainability initiatives during
FY2012.
To maintain its lean cost structure, salary has been managed through the implementation
of a hiring “chill”, which requires senior management review and approval of every
vacated position prior to replacement.
CCBC continues to implement the appropriate reductions in non-essential expenditures
through the strategic budget development and monitoring process.
In an effort to continue to capture additional cost efficiencies, CCBC continues to support
the Dollar Reduction through Efficient and Active Management (D.R.E.A.M.) team.
Ideas for conservation and other cost efficiencies as well as suggestions for “best
practices” are submitted from all segments of the college community. After a feasibility
review, ideas are put into practice as new procedures or other cost avoidance programs.
Capital Agenda – CCBC continues to concentrate on the renewal of and enhancements to
physical infrastructure, including buildings, offices and classrooms. CCBC‟s goal is to also
provide for safe, clean and secure classroom and workplace environments for students and
employees. Therefore the agenda for capital improvements continues to be aggressive to meet
those needs. Demonstrating this trend, the total amount for net capital assets (i.e. capital assets
less depreciation) in FY2012 is $149.86 million versus $133.25 million for FY2011. The chart
below reflects the significant upward trend in total net capital assets for the last five years.
____________________________________________________________________________
6
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012 In FY2012, total net capital assets increased by $16.61 million representing an increase in
depreciable capital assets of $24.83 million less additional depreciation of $8.22 million. There
were several funding sources used to finance this increase in capital assets. These include capital
funding from the State of Maryland and Baltimore County, FY2012 operating funds, the Board
Designated Spectrum Fund, two long term capital leases, and grant monies received from the
U.S. Department of Labor.
As the years have taken its toll on the College‟s older buildings, infrastructure, and facilities,
CCBC continued its aggressive capital agenda in FY2012 to provide for much needed
renovations and repairs. The construction of new buildings and extensive additions and
renovations to existing facilities will continue to remain a priority.
During FY2012, funds of $23.89 million were used for the following capital projects shown
below.
There were four significant capital projects at various stages of completion in FY2012.
In June 2012, CCBC completed the $16.10 million Science
Lab Renovation project at CCBC Essex. The scope of work
for this project included the renovation of 13 science labs
and the abatement and replacement of the entire eight story
brick façade. CCBC received a certificate of occupancy in
August 2012 and the building was open for fall 2012
classes.
Project Description Amount
Science Labs Renovations - CCBC Essex 10,894,420$
Library Renovation - CCBC Dundalk 3,106,936
Multi-Building Reroofing - CCBC - All campuses 2,961,417
Central Hot/Chilled Water Facility - CCBC Catonsville 1,629,834
Brick Pavers & Concrete - CCBC - All campuses 861,199
Bituminous Removal/Replacement - CCBC Catonsville and Essex 816,305
Various renovations - CCBC Catonsville 720,471
HVAC Upgrades, Library, One -Stop Shop - CCBC Catonsville 665,649
G Building, Alterations to Spaces, R Building Renovations - CCBC Essex 616,176
Video Security Infrastructure - CCBC - All campuses 470,892
Restroom Renovations/Asbestos Abatement - CCBC - All campuses 437,919
Other projects less than $100,000 each - CCBC - All campuses 712,470
23,893,688$
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7
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012
The new $27.63 million Owings Mills Learning Center is a
120,000 gross square foot (GSF) building that will be a
shared facility with Baltimore County Public Library. The
first two levels of the Center is approximately 40,000
square feet and will be occupied by the Library. CCBC will
occupy the remaining 80,000 square feet. CCBC‟s new
facility will have classrooms, labs, corporate training
rooms, a bookstore, and a one-stop registration center. A
groundbreaking ceremony was held in July 2011 and
construction is expected to be completed in February
2013. CCBC will open the center for summer 2013 classes. The new Owings Mills Center
is being constructed to achieve LEED-Silver certification.
In July 2011, CCBC began the design to convert the old library at CCBC Catonsville into a
new state-of-the-art math and science building. This is a $39.46 million project and will be
done in two phases. Phase I will include the renovation of the existing 46,000 gross square
foot building and phase II will include the construction of a 50,000 gross square foot
addition. The design is expected to be completed in October 2012 and construction will
begin in January 2013 with a projected May 2017 completion date.
In March 2012, CCBC completed phase
II of the $6.20 million Library and
Ancillary Spaces Renovation project at
CCBC Dundalk. Phase II included the
creation of an interior campus “main
street.” The location serves as a campus
gathering and focal point and from
where main services such as the
bookstore, café, and student success
center are accessed. A ribbon cutting
ceremony was held on May 2, 2012 and
attendees included College faculty,
staff, students, elected officials,
community leaders and members of the public. Phase I of this project included the re-
location and renovation of CCBC Dundalk‟s 19,500 GSF library and was completed in June
2011.
____________________________________________________________________________
8
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012
ANALYSIS OF CCBC’S STATEMENT OF NET ASSETS
The Statement of Net Assets includes all assets and liabilities of the College. This statement is
prepared using the accrual basis of accounting, whereby revenues and assets are recognized
when the service is provided, and expenses and liabilities are recognized when others provide a
service to the College, regardless of when cash is exchanged.
Captured in the table below are the highlights of the components of the net assets (in millions) as
of June 30, 2012, 2011 and 2010:
A review of the net assets at June 30, 2012 indicates the following:
Cash and cash equivalents - At June 30, 2012, the College had $18.98 million in cash and
invested balances which are an increase of $3.47 million from the $15.51 million balance on
June 30, 2011 and a $1.50 million increase from June 30, 2010. The current period increase can
be attributed to the receipt of state capital reimbursement in the amount of $3.74 million that was
subsequently repaid to the County in the first quarter of FY2013.
CCBC‟s invested cash balances continue to be secure but earn a very modest current market
interest rate. As of June 30, 2012, the invested cash balances were earning approximately
0.14%, slightly higher than the rate as of June 30, 2011, which was 0.10%. CCBC‟s funds are
invested in a traditionally stable and extremely safe investment, called the Maryland Local
Government Investment Pool. Additional cash balances are maintained in a demand deposit
account with M&T Bank that is covered by a combination of FDIC and blanket collateral
coverage.
2012 2011 2010 2012/11 2011/10
Assets
Cash and cash equivalents $ 18.98 $ 15.51 $ 17.48 22.4% -11.3%
Other current assets 15.48 16.52 17.79 -6.3% -7.1%
Net capital assets 149.86 133.25 120.71 12.5% 10.4%
Net OPEB Asset 0.00 0.00 2.10 0.0% -100.0%
Total assets $ 184.33 $ 165.28 $ 158.08 11.5% 4.6%
Current liabilities $ 27.03 $ 24.11 $ 26.70 12.1% -9.7%
Noncurrent liabilities 10.65 4.20 1.77 153.7% 136.8%
Total liabilities $ 37.68 $ 28.31 $ 28.47 33.1% -0.6%
Invested in capital assets $ 148.48 $ 131.48 $ 120.71 12.9% 8.9%
Unrestricted -1.84 5.49 8.90 -133.5% -38.4%
Total net assets $ 146.65 $ 136.97 $ 129.61 7.1% 5.7%
Liabilities
Net Assets
Percent Change
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9
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012
Other current assets – These assets consist of accounts receivable, bookstore inventory, deferred
or prepaid charges and other assets as shown in the following schedule.
Federal, state, county and local accounts receivable was lower in FY2012, compared to both
prior years. This is largely attributed to the more timely reimbursements from the state. Tuition
receivables increased as tuition has trended higher. Net capital assets – The schedule below includes a presentation of capital assets, which includes
the recording of depreciation. CCBC‟s capital assets (in millions) as of June 30, 2012, 2011 and
2010 are presented in the table below.
As further evidence of the College‟s aggressive capital agenda, CCBC‟s capital assets have
increased cumulatively by over 24.1% in the past three years. The most significant increases
Other Current Assets (in millions) 2012 2011 2010 2012/11 2011/10
Accounts Receivable:
Federal, state, county and local $ 10.06 $ 10.93 $ 13.40 -8.0% -18.4%
Tuition receivable, net 3.62 3.67 2.43 -1.1% 50.6%
Inventories 1.71 1.86 1.85 -8.1% 0.5%
Deferred charges and other assets 0.09 0.06 0.11 38.9% -43.7%
Total Current Assets $ 15.48 $ 16.52 $ 17.79 -6.3% -7.1%
Percent Change
Capital Assets 2012 2011 2010 2012/11 2011/10
Land $ 4.80 $ 4.80 $ 4.80 0.0% 0.0%
Buildings 158.93 151.74 122.24 4.7% 24.1%
Infrastructure 25.24 25.24 24.09 0.0% 4.8%
Equipment 19.65 19.02 18.39 3.3% 3.4%
Vehicles 2.43 2.28 2.37 6.3% -3.6%
Library materials 6.72 6.46 6.07 4.0% 6.4%
Capital lease 2.07 2.05 - 0.7% 0.0%
Construction in progress 29.78 13.18 27.28 126.0% -51.7%
249.61 224.77 205.24 11.1% 9.5%
Accumulated depreciation -99.75 -91.52 -84.53 9.0% 8.3%
Net capital assets $ 149.86 $ 133.25 $ 120.71 12.5% 10.4%
Percent Change
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10
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012 have been in the buildings and construction in progress lines. In FY2011, the CCBC Catonsville
library was completed and capitalized at $26.63 million. This was followed up by the FY2012
capitalization of CCBC Dundalk library and the G building at CCBC Essex. For FY2012,
construction in progress is higher as the renovations of the science lab at CCBC Essex, the
library at CCBC Dundalk and the reroofing projects on all CCBC campuses near completion.
Vehicles increased due to the purchase of four vehicles – two shuttles for College transportation
of students between campuses and two public safety vehicles.
In the previous year, CCBC entered into a five-year lease purchase contract for $1.90 million to
replace obsolete data network equipment including switches, UPS units and software
configuration and implementation services. Furthermore, this acquisition allowed the College to
meet several key objectives. There are four years remaining on the lease. Refer to Note 5 (pg.
39) for details of the capital asset categories and amounts.
Current liabilities – Current liabilities include accounts payable and accrued expenses of $19.13
million, which is $3.31 million higher than FY2011 and $0.50 million lower than FY2010. The
chart below shows a comparison of current liabilities for the last three fiscal years.
The fluctuation in the accounts payable/accrued expenses over the last three years was primarily
due to the timing of payments related to capital projects and the related accrued expenses, which
caused a decrease from FY2010 to FY2011 and was followed by an increase in FY2012.
Compensated absences and accrued salaries have cumulatively grown by approximately 12.7%
over the past three years. There were 85 employees who retired from CCBC in FY2012. The
accrual for the payout of vacation leave balances explains the increase in this area. These
payouts will occur in the first quarter of FY2013. Compensated absences represent the
accumulation of earned vacation that is shown as a current (accumulation of 4 weeks) and long
term liability (accumulation of amounts exceeding 4 weeks up to a total of 8 weeks) on the
Statement of Net Assets. Accrued salaries represent salary expense that has been incurred, but
not paid until the next fiscal year.
Current Liabilities (in millions) 2012 2011 2010 2012/11 2011/10
Accounts payable/accrued expenses $ 11.59 $ 8.65 $ 12.94 34.0% -33.1%
Accrued compensated absences 3.88 3.41 3.24 13.8% 5.4%
Accrued salaries 3.66 3.76 3.45 -2.7% 8.9%
Unearned revenue 5.92 6.10 5.56 -2.9% 9.8%
Capital leases 0.45 0.41 0.00 9.8% 0.0%
Deposits held in custody for others 1.53 1.78 1.51 -14.1% 17.7%
Total Current Liabilities $ 27.03 $ 24.11 $ 26.70 12.1% -9.7%
Percent Change
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11
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012
As explained on the previous page, the capital lease that commenced in FY2011 was for the
upgrade and enhancement of the IT infrastructure. The capital lease payments that are due within
the next 12 months are shown as a current liability. The portion paid in FY2012 was $390,738.
See Note 7 (pg. 40) for more details on these capital leases.
Deposits held in custody for others are fairly stable over the past two years with an overall
change of 2.0%. A large portion of this liability grouping is historically attributed to funds
related to CCBC‟s student government and student athletics. These funds are used to support
student activities and are self-supporting based upon student activity fees.
Noncurrent liabilities – Noncurrent liabilities consist of accrued compensated absences (beyond
the next 12 months), capital leases and CCBC‟s OPEB obligation. Total noncurrent liabilities of
$10.65 million have increased by $6.45 million or 153.7% since FY2011. The majority of this
change is attributed to the increase in the Net OPEB obligation partially offset by the payment of
the obligation under capital leases in FY2012. The chart below shows a comparison of current
liabilities for the last three fiscal years.
Baltimore County‟s OPEB plan is a multiple employer postemployment healthcare plan which
includes five employers: Baltimore County, Baltimore County Public Schools, Baltimore County
Library system, Baltimore County Revenue Authority and CCBC. The plan is administered as a
trust. In FY2012, CCBC‟s OPEB liability increased by $6.86 million due to the increase in the
calculated AOC (annual OPEB contribution) per the actuarial report.
Invested in Capital Assets – The $148.48 million in FY2012 consists of the total net capital
assets of $149.86 million less the $1.38 million total liability for capital leases.
Unrestricted Net Assets – Unrestricted net assets decreased by $7.33 million from FY2011 to
FY2012 due to largely to the increase in the net OPEB liability (NOO) in the amount of $6.86
million and a small portion attributed to the FY2012 spend down of the Board designated
restricted fund containing the HITN proceeds for various projects.
Noncurrent Liabilities (in millions) 2012 2011 2010 2012/11 2011/10
Accrued compensated absences $ 1.98 $ 1.96 $ 1.77 1.3% 10.4%
Net OPEB Obligation (NOO) 7.74 0.88 0.00 779.2% 100.0%
Obligations under capital leases 0.93 1.36 0.00 -31.7% 100.0%
Total Current Liabilities $ 10.65 $ 4.20 $ 1.77 153.7% 136.8%
Percent Change
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12
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012 REVENUES, EXPENSES AND CHANGES IN CCBC’S NET ASSETS
The Statement of Revenues, Expenses and Changes in Net Assets presents the revenues earned
and the expenses incurred during the year using the business model as prescribed by GASB.
Activities are classified as either operating or nonoperating. Generally, a public college, like
CCBC, will report an operating loss as the required financial reporting model classifies state and
local appropriations, in addition to grants, as nonoperating revenues. The utilization of capital
assets is reflected in the financial statements as a cost of depreciation.
The following schedule includes the components of the revenues, expenses and changes in
CCBC‟s net assets for the years ended June 30, 2012, 2011 and 2010 (in millions):
Operating Revenues and Expenses 2012 2011 2010 2012/11 2011/10
Operating revenues:
Student tuition and fees $ 60.94 $ 58.64 $ 51.99 3.9% 12.8%
Auxiliary enterprises 8.84 9.28 6.89 -4.8% 34.7%
Other 2.31 1.95 2.04 18.6% -4.6%
Total operating revenues 72.09 69.87 60.92 3.2% 14.7%
Operating expenses:
Instruction 88.70 85.56 79.01 3.7% 8.3%
Public service 0.40 0.39 0.39 2.3% -0.9%
Academic support 11.33 11.70 10.81 -3.2% 8.2%
Student services 17.65 17.43 16.76 1.2% 4.0%
Institutional support 33.57 31.00 28.37 8.3% 9.3%
Operation and maintenance of plant 15.24 14.27 14.74 6.8% -3.2%
Depreciation 8.22 7.06 5.98 16.4% 18.2%
Student aid 19.70 19.14 14.14 2.9% 35.4%
Auxiliary enterprises 10.79 10.87 10.34 -0.7% 5.1%
Certain fringe benefits paid directly by State of Maryland 7.27 7.07 6.43 2.9% 9.9%
Other 11.34 5.65 0.99 100.7% 469.2%
Total operating expenses 224.22 210.15 187.96 6.7% 11.8%
Operating loss -152.13 -140.28 -127.03 8.4% 10.4%
Nonoperating Revenues and Expenses
State appropriations 34.40 33.67 34.52 2.2% -2.5%
Certain fringe benefits paid directly by the State 7.27 7.07 6.43 2.9% 9.9%
County appropriations, net of debt service 38.46 38.26 36.86 0.5% 3.8%
Grants 54.84 50.58 43.00 8.4% 17.6%
Gifts 0.45 0.44 0.52 3.2% -16.7%
Interest income 0.01 0.02 0.03 -39.7% -13.0%
Disposal of assets 0.00 -0.02 0.00 -100.0% 100.0%
Net nonoperating revenues 135.44 130.02 121.36 4.2% 7.1%
Loss before other revenues, expenses, gains, or losses -16.69 -10.26 -5.67 62.8% 80.9%
Other Revenues
County capital appropriations 25.75 17.01 23.64 51.4% -28.1%
State capital appropriations 0.61 0.61 0.65 0.0% -6.7%
Total other revenues 26.36 17.62 24.29 49.6% -27.5%
Increase in net assets $ 9.67 $ 7.36 $ 18.61 31.4% -60.5%
Percent Change
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13
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012 Revenue - The impact of the slight decrease in student enrollment flowed through tuition and fee
revenue, bookstore revenue (auxiliary enterprises) as students purchased fewer textbooks and
grants. More students received Pell awards and the maximum Pell award remained consistent at
$5,550 per student. The table below contains a comparison of the main sources of revenue (in
millions) for the last three fiscal years.
2012 2011 2010 2012/11 2011/10
Student Tuition $ 60.94 $ 58.64 $ 51.99 3.9% 12.8%
County Appropriations 38.46 38.26 36.86 0.5% 3.8%
State Appropriations 34.40 33.67 34.52 2.2% -2.5%
Grants 54.84 50.58 43.00 8.4% 17.6%
Auxiliary 8.84 9.28 6.89 -4.8% 34.7%
Other 36.40 27.08 33.31 34.4% -18.7%
Total revenues $ 233.89 $ 217.51 $ 206.57 7.5% 5.3%
Comparative Sources of Revenues
Percent Change
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14
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012 Total revenue increased by $27.32 million or 13.2% over the past two years. The significant
revenue changes are described below.
Student Tuition – CCBC has experienced stabilization in enrollment in FY2012. Traditional
high school graduates are still turning to CCBC as a source of a more affordable cost of higher
education. There are also students who are selecting CCBC due to the unique or competitive
offerings such as Cyber Security and Dental Hygiene. Credit tuition was impacted by the level of
enrollment and modest tuition increase in both FY2011 and FY2012. As shown in the following
table, tuition amounts, as presented in accordance with GAAP, are net of the portion of Pell
grants that covered student tuition.
FY2012 FY2011 FY2010
Total Tuition and Fees $81,916,855 $75,792,144 $65,774,036
Less Student Aid (20,975,047) (17,148,877) (13,781,340)
Net Tuition and Fees $60,941,808 $58,643,267 $51,992,696
Pell Grants – Pell grants rose by $24.05 million or 129.2% from FY2009 to FY2012 due to an
increase in Pell award amounts and the number of students who were eligible. It is anticipated
that the growth in Pell grants will stabilize due to recent changes in legislation that has imposed
more strict guidelines for Pell awardees to continue to receive benefits.
The College Affordability Act along with the American Recovery and Reinvestment Act
(ARRA) is enabling more
students to qualify for Pell
grants, but has implemented
more strict guidelines for
current recipients in order
for them to continue to earn
the award. For award year
2011-2012, the maximum
Pell grant was at the same
level as the prior year,
which was $5,550 per
student. The chart on right
shows the relation of Pell
grants as compared to other
grant sources.
Other grants - The College was awarded a three year ARRA grant from the Department of
Labor for Healthcare in the amount of $4.90 million to assist in the training of individuals
enrolled in nursing fields for both credit and noncredit. Since this is a sizable grant, the
expenditures are impacting the restricted budget considerably. The College also received two
other ARRA grants
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15
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012 from pass-through agencies, with a combined budgeted expenditure of almost $900K for
workforce training. Another grant is a Department of Labor construction grant to provide
construction and related trade skills training. There is also a four year grant from MHEC in the
amount of approximately $1.20 million that will be used to maximize nursing retention by
providing tutoring and supplemental instruction to nursing students. These grants are in addition
to ongoing significant activity with regards to MSDE Perkins IV program improvement and
Federal TRIO program funding. Additionally, the State of Maryland provided the College with a
Keeping Education Affordable Grant in the amount of $728,018, as part of a statewide effort to
control the level of tuition increases at public institutions.
Auxiliary Enterprises – The decrease in revenue follows the modest decrease in enrollment,
creating a lower demand for textbooks and related instructional materials supplied to the students
through bookstore operations. In FY2012, CCBC piloted and subsequently implemented a book
rental program. This program is in response a College goal to provide more affordable
alternatives for students with regards to textbook purchases. The rentals are available to students
at a lower cost than the retail amount for the books. The total revenue from the rental program
including rebates is $247,431, indicating the success of this program.
Operating Expenses- Total expenses were $224.21 million for the year ended June 30, 2012
representing an increase of $14.06 million or 6.7% from the FY2011 expenses of $210.15
million. The table below contains a functional comparison of expenditures for the last three
fiscal years (expressed in millions).
The significant changes in expenses are further described below:
The increase in other expenses is attributable to the increase in Net OPEB cost, increase in
depreciation of CCBC‟s net capital assets, and the increase in expenses related
2012 2011 2010 2012/11 2011/10
Instruction $ 88.70 $ 85.56 $ 79.01 3.7% 8.3%
Public Service 0.40 0.39 0.39 2.3% -0.9%
Academic Support 11.33 11.70 10.81 -3.2% 8.2%
Student Services 17.65 17.43 16.76 1.2% 4.0%
Institutional Support 33.57 31.00 28.37 8.3% 9.3%
Plant 15.24 14.27 14.74 6.8% -3.2%
Auxiliary 10.79 10.87 10.34 -0.7% 5.1%
Student aid 19.70 19.14 14.14 2.9% 35.4%
Other 26.83 19.79 13.40 35.6% 47.7%
Total expenses $ 224.21 $ 210.15 $ 187.96 6.7% 11.8%
Comparative Operating Expenses
Percent Change
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16
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012 to facility repairs and maintenance, library materials and capital expenses funded by the Board
designated funds.
As would be expected, CCBC devotes the majority of its resources to instruction, academic and
student support services. Of the total, 61.3%, 63.7% and 64.2% of CCBC‟s expenses were
focused on direct student interaction and support in FY2012, FY2011 and FY2010 respectively.
The chart below shows the percentage breakdown of operating expenses for FY2012.
____________________________________________________________________________
17
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012 The schedule below represents the operating expenses by object classification for three years (in
millions).
As with all colleges and universities, the largest expense is for salaries and fringe benefits. As a
highly intensive human capital organization, CCBC expects to spend the majority of its funds on
compensation. Yet, the College was still able to effectively manage salaries and fringe benefits
and reduce this level of cost from 65.3% in FY2011 to 63.4% in FY2012 due to the “hiring
chill”, which involves a management review of each personnel vacancy prior to authorization for
replacement. CCBC‟s second largest expense is for student aid, followed by contractual services or services
from outside parties to benefit all functional areas of the College. Contractual services increased
by $1.88 million or 7.7% due to higher costs of facility maintenance repairs, software
maintenance and interpreter services.
Due to CCBC‟s continued sustainability efforts, a slight drop in electricity rates and lower
heating costs due to the mild winter, utility expenses in FY2012 were the lowest of the last three
years at only $2.92 million. Some of CCBC‟s conservation efforts include the following:
CCBC aggressively shuts down or reduces capacity on HVAC equipment during college
breaks and holidays. In FY2009 through FY2012, we saved $322,000 in utility costs
through conservation efforts. CCBC adopts an energy conservation calendar each year to
plan for these “heating and cooling holidays”.
All college instructional and office computer workstations are powered down via network
commands at 11:00 pm each day. As a result, savings of approximately $40/year in
2012 2011
2012 2011 2010
Percent of
Expense
Percent of
Expense
Salaries and fringe benefits $ 142.05 $ 137.29 $ 128.77 63.4% 65.3%
Contracted services 17.23 15.35 13.78 7.7% 7.3%
Supplies and materials 4.87 4.66 4.55 2.2% 2.2%
Utilities 2.92 3.53 4.08 1.3% 1.7%
Furniture and equipment (non capital) 6.74 4.12 2.72 3.0% 2.0%
Depreciation 8.22 7.06 5.98 3.7% 3.4%
Student aid 19.70 19.14 14.14 8.8% 9.1%
Cost of goods sold 8.53 8.92 8.46 3.8% 4.2%
Other 13.96 10.08 5.48 6.2% 4.8%
Total $ 224.21 $ 210.15 $ 187.96 100.0% 100.0%
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18
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012
electrical costs for each workstation. Since, CCBC has over 6,000 computer
workstations, this effort results in savings that approximate $240,000.
CCBC installed occupancy sensors in some classrooms, offices and conference rooms.
Every classroom and office light switch has a reminder sticker to turn off the lights to
save energy.
Expenses for small furniture and equipment purchases and depreciation of capital assets have
increased in the past year. Again, this trend demonstrates CCBC‟s aggressive capital agenda as
more buildings are renovated and supplied with new furniture and equipment.
CONDITIONS THAT WILL IMPACT FUTURE FINANCIAL POSITION AND RESULTS OF OPERATIONS
Baltimore County and the State of Maryland provide significant resources to CCBC and as such,
the economic condition of the state and local region has a major bearing on the future economic
health of CCBC. The following are some of the factors that will impact the future operations of
the College:
CCBC‟s FY2013 operating budget of $273.44 million, reflects a 5.0% increase over
FY2012. The continued availability and funding of federal financial aid will influence
this revenue.
The State of Maryland FY2013 budget for state aid is $34.40 million, which is the same
amount as FY2012. The FY2013 County funding will also be 1.5% higher than FY2012,
due to increases in debt service.
The continued and relatively stable funding from both the state and the county shows the
support of the College‟s program offerings.
In addition to the above trends on the state and local governmental landscape, there are other
factors which will influence CCBC‟s future fiscal picture.
For FY2013, CCBC‟s enrollment is budgeted to be 20,948 in full-time equivalent (FTE)
students (15,950 credit and 4,998 non-credit). The fall 2012 semester is projected to have
a 3.0% decrease in enrollment compared to fall 2011 for credit enrollment, which
stabilizes the upward trend that had commenced in FY2008. Even in spite of the slight
decline, students are still continuing to opt for a more economical means to achieve an
education as compared to the first two years of a four year institution and other students
are being faced with a need for retraining and other workforce development options.
The governmental accounting standard directs how state and local governments account
for and report other post-employment benefits obligations. Other post-employment
benefits include healthcare premiums, dental insurance premiums and vision
____________________________________________________________________________
19
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012
insurance premiums. Effective July 2012, CCBC implemented a modification to the
“vesting” schedule to earn participation in postemployment healthcare. This caused an
uptick in the level of retirements in June, but will help to make these benefits more
sustainable.
The ground breaking for the new Owings Mills Center was held in July 2011. The $27.63
million education complex will function as a full service, comprehensive learning
facility, which will contain several specialized labs for science, art and technology. The
facility will be shared with a branch of Baltimore County Public Library and will offer
additional classroom space. The project is expected to be completed by the spring of
2013 with classes to be held starting the summer of 2013. Having a larger presence in
that area may entice more students to attend classes at that location and allow for
continued stabilization of enrollment.
In addition to the Owings Mills Center, there are several other capital projects that will
affect the future financial position of CCBC. One is the renovation of the science
building at CCBC Essex. The building is open for fall classes. The second is the
renovation of the old library at CCBC Catonsville to a state-of-the-art Science,
Technology, Engineering and Mathematics facility that will also include additional
classroom and laboratory space. The first phase of renovations will begin in FY2013.
Of the most recent retirees, the average years of service were twenty-five. For this
reason, CCBC is working diligently to enhance overall intellectual capital preservation
through professional development/training and mentoring efforts as a part of the FY2011-
FY2013 Strategic Direction of Organizational Excellence and will be enhanced for the
FY2014-FY2016 Strategic Direction.
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20
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012
DISCRETELY PRESENTED COMPONENT UNIT – CCBC FOUNDATION
In accordance with Governmental Accounting Standards Board Statement No. 39, Determining
Whether Certain Organizations are Component Units, the foundation that is affiliated with
CCBC is reported as a discretely presented component unit, as described in the notes to the
financial statements.
Presented below is a comparison of the CCBC Foundation revenues and expenses. The
foundation contributed a total of $901,011 in FY2012 to provide scholarships to our students and
supplemental support to a variety of college programs. This compares to a level of support of
$734,101 in FY2011 and $669,135 in FY2010.
Net assets for the Foundation increased and are $8.82 million, which is 2.6% higher than
FY2011. The improvement at the Foundation is caused by increased operating revenues as
contributions increased by 11.3%, partially offset by increased support of students and a less
positive growth in the portfolio.
Amounts expressed in millions
2012 2011 2010 2012/11 2011/10
Revenues
Operating revenues:
Contributions $ 1.03 $ 0.93 $ 0.50 11.3% 86.9%
In-kind contributions 0.28 0.28 0.28 1.3% 0.1%
Special events and other 0.28 0.25 0.27 10.4% -7.4%
Total operating revenues 1.59 1.46 1.04 8.5% 40.4%
Expenses
Operating expenses:
Student aid 0.90 0.73 0.67 22.7% 9.7%
Fundraising and other 0.47 0.45 0.44 2.7% 3.8%
Total operating expenses 1.37 1.18 1.11 16.1% 6.5%
Operating income 0.22 0.28 -0.06 -19.9% -532.6%
Nonoperating revenues
Investment income 0.01 0.83 0.49
Total nonoperating revenues 0.01 0.83 0.49 -98.7% 68.3%
Increase (decrease) in net assets 0.23 1.11 0.43 -79.2% 160.3%
Net assets - beginning of year 8.59 7.49 7.06 14.7% 6.1%
Net assets - end of year $ 8.82 $ 8.60 $ 7.49 2.6% 14.9%
Percent Change
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21
MANAGEMENT’S DISCUSSION AND ANALYSIS June 30, 2012
The Foundation continues to provide scholarship and program support on a relatively consistent
and increasing basis to the CCBC students.
CONTACTING CCBC’S FINANCIAL MANAGEMENT
This financial report is designed to provide interested parties with a general overview of CCBC‟s
finances. If you have questions about this report or require additional financial information,
contact The Community College of Baltimore County, Office of Finance, 7200 Sollers Point
Road, Baltimore, Maryland 21222-4694.
____________________________________________________________________________
22
June 30, 2012
CCBC Component UnitAssets
Current assets:
Cash and cash equivalents 18,984,934$ 2,903,962$
Accounts receivables:
Federal, state, county and local 10,056,099 -
Contributions receivable - 121,978
Tuition receivable and other (net of allowance for doubtful
accounts of $1,396,682) 3,623,062 -
Assets held for charitable gift annuities - 10,080
Bookstore inventories, at cost 1,714,061 -
Deferred charges and other assets 88,874 16,085
Total current assets 34,467,030 3,052,105
Noncurrent assets:
Investments - 5,672,112
Contributions receivable - 161,712
Capital assets, net 149,864,327 -
Total noncurrent assets 149,864,327 5,833,824
Total assets 184,331,357$ 8,885,929$
Liabilities and Net Assets
Current liabilities:
Accounts payable and accrued expenses 11,592,404$ 40,898$
Accrued compensated absences 3,884,320 -
Accrued salaries 3,658,511 -
Annuities payable from charitable gifts - 11,369
Unearned revenue 5,923,102 9,870
Deposits held in custody for others 1,525,345 -
Obligations under capital leases 451,044 -
Total current liabilities 27,034,726 62,137
Noncurrent liabilities:
Accrued compensated absences 1,982,174 -
Net OPEB Obligation 7,737,775 -
Obligations under capital leases 929,344 -
Total noncurrent liabilities 10,649,293 -
Total liabilities 37,684,019 62,137
Net assets:
Invested in capital assets, net of related debt 148,483,939 -
Restricted:
Temporarily - 3,370,806
Permanently - 4,489,230
Unrestricted (1,836,601) 963,756
Total net assets 146,647,338 8,823,792
Total liabilities and net assets 184,331,357$ 8,885,929$
Statement of Net Assets
These financial statements should be read only in conjunction with the accompanying
summary of significant accounting policies and notes to financial statements.
____________________________________________________________________________
23
Statement of Revenues, Expenses and Changes in Net AssetsFor the year ended June 30, 2012
CCBC Component Unit
Revenues
Operating revenues:
Student tuition and fees (net of scholarship allowances of $20,975,047) 60,941,808$ -$
Auxiliary enterprises (net of scholarship allowances of $3,385,504) 8,840,161 -
Contributions (including in-kind contributions of $280,348) - 1,311,753
Special events and other income 2,308,525 275,520
Total operating revenues 72,090,494 1,587,273
Expenses
Operating expenses:
Instruction 88,701,180 -
Public service 398,151 -
Academic support 11,325,684 -
Student services 17,646,615 -
Institutional support 33,569,783 -
Operation and maintenance of plant 15,242,584 -
Depreciation 8,221,825 -
Student aid 19,699,324 901,011
Auxiliary enterprises 10,792,195 -
Certain fringe benefits paid directly by State of Maryland 7,270,896 -
Fundraising - 4,410
Other 11,341,882 460,889
Total operating expenses 224,210,119 1,366,310
Operating income (loss) (152,119,625) 220,963
Nonoperating Revenues (Expenses)
State appropriations 34,398,366 -
Certain fringe benefits paid directly by State of Maryland 7,270,896 -
County appropriations (net of debt service of $5,794,873) 38,462,795 -
Grants-federal, state, county and local (Pell grants, $42,660,691) 54,840,160 -
Gifts 450,242 -
Investment income 13,630 10,823
Disposal of capital assets - -
Total nonoperating revenues 135,436,089 10,823
Income (loss) before other revenues, expenses, gains, or losses (16,683,536) 231,786
Other Revenues
County capital appropriations 25,717,631 -
State capital appropriations 641,430 -
Total other revenues 26,359,061 -
Increase in net assets 9,675,525 231,786
Net assets - beginning of year 136,971,813 8,592,006
Net assets - end of year 146,647,338$ 8,823,792$
These financial statements should be read only in conjunction with the accompanying
summary of significant accounting policies and notes to financial statements.
____________________________________________________________________________
24
For the year ended June 30, 2012
Cash flows from operating activities: CCBC
Tuition and fees received 60,877,118$
Auxiliary enterprises 8,840,161
Payments to employees (133,798,761)
Payments to suppliers (64,010,628)
Other receipts 2,276,187
Net cash used in operating activities (125,815,923)
Cash flows from noncapital financing activities:
State appropriations 34,398,366
County appropriations 38,462,795
Grants, scholarships and direct lending 54,322,132
Gifts 450,242
Net cash provided by noncapital financing activities 127,633,535
Cash flows from capital and related financing activities:
Capital appropriations 26,869,845
Purchases of capital assets (24,832,055)
Payment on capital lease obligations (390,738)
Net cash provided by capital and related financing activities 1,647,052
Cash flows from investing activities:
Interest income 13,630
Net increase in cash and cash equivalents 3,478,294
Cash and cash equivalents - beginning of year 15,506,640
Cash and cash equivalents - end of the year 18,984,934$
Operating loss (152,119,625)$
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation 8,221,825
Certain fringe benefits paid directly by State of Maryland 7,270,896
Effects of changes in operating assets and liabilities:
Accounts receivable (net) 925,555
Bookstore inventories 150,375
Deferred charges and other assets (27,591)
Accounts payable and accrued expenses 2,940,278
Increase in NOO (OPEB) 6,857,712
Accrued salaries (102,557)
Accrued compensated absences 496,318
Unearned revenue (178,808)
Deposits held in custody for others (250,301)
Net cash used in operating activities (125,815,923)$
Reconciliation of Operating Loss to Net Cash Used In Operating Activities
Statement of Cash Flows
These financial statements should be read only in connection with the accompanying
summary of significant accounting policies and notes to the financial statements.
____________________________________________________________________________
25
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
JUNE 30, 2012
REPORTING ENTITY
The Community College of Baltimore County (CCBC) is considered a “body politic” under
Maryland state law as an instrumentality of the State of Maryland (the State). CCBC is governed
by a 15-member Board of Trustees (the Board). Trustees are appointed for five-year terms by the
Governor of the State with the advice and consent of the State Senate.
CCBC is not a Baltimore County, Maryland (the County) agency, but as a result of CCBC‟s
relationship with and significant funding from the County, CCBC is considered a component unit
of the County. CCBC‟s financial statements are summarized in the basic financial statements of
the County in accordance with accounting principles generally accepted in the United States of
America.
The significant accounting policies followed by CCBC are described below.
BASIS OF PRESENTATION
CCBC follows the reporting and disclosure requirements for special purpose governments
involved in business-type activities as outlined in Governmental Accounting Standards Board
(GASB) Statements No. 34, 35 and 38. This provides an entity-wide perspective in the financial
statement presentation. These standards require capitalization of assets, recording of
depreciation, presentation of management‟s discussion and analysis, as required supplementary
information and presentation of a Statement of Net Assets, Statement of Revenues, Expenses and
Changes in Net Assets and Statement of Cash Flows.
BASIS OF ACCOUNTING
The financial statements of CCBC have been prepared using the economic resources
measurement focus and the accrual basis of accounting whereby all revenues are recorded when
earned and all expenses are recorded when a liability is incurred.
REVENUE RECOGNITION
Revenue is recognized when earned and on an accrual basis with the establishment of
corresponding accounts receivable. Tuition receivables are uncollateralized obligations of
students resulting from course registration. The allowance method for accounts receivable is
used to measure bad debts, which include account charge offs. The allowance for doubtful
accounts is determined based upon aging analysis and management‟s estimation of collectability
of such accounts.
Student tuition and fees received for the summer sessions with a start date after June 30, 2012
have been deferred for financial statement purposes.
____________________________________________________________________________
26
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
JUNE 30, 2012
SCHOLARSHIP ALLOWANCES
Student tuition and fees are reported net of any scholarship allowance. A scholarship allowance
is the difference between the stated charge for tuition, goods and services provided by CCBC and
the amount that is paid by the student or third parties making payments on behalf of the student.
Scholarship allowances represent funds received from outside resources such as the Title IV
Federal Grant Program.
CAPITAL ASSETS
Capital assets are long-lived tangible assets which include real property (land and buildings) and
personal property (equipment and library materials) that are capitalized when their value exceeds
the specific threshold for that class of asset. The general capitalization threshold for equipment
is $5,000 and library materials are capitalized when purchased regardless of amount. Capital
assets include land, buildings, infrastructure, equipment, vehicles and library materials. Such
assets are recorded at historical cost or estimated historical cost, if purchased or constructed.
Land is not depreciated as it is considered to have an indefinite useful life. Donated assets are
recorded at the estimated fair value at the date of donation. Capital assets are depreciated using
straight-line method, booked in aggregate by year, over the following useful lives:
Buildings 50 years
Building improvements 20 years
Infrastructure 20 years
Equipment 10 years
Vehicles 8 years
Library materials 7 years
ENCUMBRANCES
At year-end, encumbrances totaled approximately $15,069,793, which represented the estimated
amount of expenses when unperformed obligations are completed. Included in the
encumbrances total is approximately $11,017,347 representing commitments for capital projects.
Encumbrances outstanding at June 30, 2012 do not constitute expenses or liabilities and are not
reflected in these financial statements.
FEDERAL AND STATE INCOME TAX STATUS
CCBC is exempt from Federal and State income taxes as it is essentially a subdivision of the
state.
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27
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
JUNE 30, 2012
USE OF ESTIMATES IN PREPARING FINANCIAL STATEMENTS
The preparation of financial statements in conformity with accounting principles generally
accepted in the United States of America requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and disclosures of
contingent assets and liabilities at the date of the financial statements and the reported amounts
of revenue and expenditures during the reporting period. Actual results could differ from those
estimates.
COMPENSATED ABSENCES
Each 12-month professional employee accrues 20 paid vacation days annually at a rate of one
and two-third days per month. A 12-month employee may not carry forward more than 40 days
of unused vacation leave from one fiscal year to the next.
At the time of termination, an employee (professional and classified) shall be paid the balance of
accrued vacation days up to a maximum of two years accrued.
Permanent, full-time classified employees with less than five years of service accrue paid
vacation at a rate of 10/12 of a normal workday for each month of employment to a maximum of
10 workdays per year. Permanent, full-time classified employees with five, but less than 10 years
accrue up to 15 days per year. Those classified employees with 10 or more years of service
accrue up to 20 days per year. A classified employee may carry forward no more than the
vacation accrued in two years.
Vacation benefits earned but not yet taken are charged to expense in the current fiscal year.
These benefits will be funded by future appropriations when paid. The future appropriations are
considered recorded as a current and long term liabilities on the Statement of Net Assets.
Each employee accrues sick leave at a rate of one day per month during the first year of
employment and one and one-half days per month during subsequent years. The amount of sick
leave, which is accumulated, is not limited. At retirement, an eligible employee may convert
unused sick leave into membership service credit as specified by the Maryland State Retirement
System. Since CCBC is not liable for payment of unused sick leave, no accrual is recorded.
INVENTORIES
Inventories consist of books and supplies at the bookstores and are stated at the lower of cost or
market. Cost is determined by the first-in/first-out (FIFO) method.
OPERATING AND NONOPERATING CLASSIFICATION
The policy of CCBC is to report as operating revenues and expenses items that result from
providing services and delivering goods in connection with the principal ongoing activities of the
____________________________________________________________________________
28
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
JUNE 30, 2012
College. All revenues and expenses not meeting this definition are reported as nonoperating
revenues and expenses. Included within nonoperating revenues would be such items as capital
and related financing activities, investing activities, grants, as well as State and County
appropriations.
NET ASSET CLASSIFICATION
Net Assets
The College maintains the following net asset classifications:
Invested in capital assets, net of related debt
Capital assets, net of accumulated depreciation and outstanding principal balances of debt
attributable to the acquisition, construction, repair or improvement of those assets.
Unrestricted
Unrestricted net assets may be designated for specific purposes by the College‟s Board of
Trustees.
PRIVATE SECTOR GUIDANCE
The GASB allows the option for governmental business-type activities to apply all Financial
Accounting Standards Boards (FASB) Statements and Interpretations issued after November 30,
1989, except those that conflict with or contradict GASB pronouncements. CCBC has elected
not to implement FASB pronouncements issued after that date.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents are items that are readily convertible to cash while carrying an
insignificant risk of change in value, which is defined as having a maturity rate of three months
or less at the time of purchase. Cash equivalents include a money market fund that invests in
instruments, which are issued or guaranteed by the U.S. Government or any of its agencies and
the Maryland Local Government Investment Pool. Included in the MLGIP funds are investments
maturing in three months or less.
DISCRETELY PRESENTED COMPONENT UNIT OF THE COLLEGE
An individual board governs the discretely presented component unit. The CCBC Foundation,
Inc. (the Foundation) is a separate entity that has been recognized as a tax exempt organization
as defined by Section 501(c)(3) of the Internal Revenue Code.
Although the College does not control the timing or amount of receipts from the Foundation, all
of the resources or income thereon that the Foundation holds and invests is restricted to the
activities of the College by the donors. Because these restricted resources held by the
Foundation can only be used by, or for the benefit of the College, the Foundation is considered a
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29
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
JUNE 30, 2012
component unit of the College under GASB Statement No. 39 and is discretely presented in the
College‟s financial statements.
Complete financial statements for the Foundation can be obtained from the administrative office
listed below:
The CCBC Foundation, Inc.
c/o Institutional Advancement
7200 Sollers Point Road
Baltimore, Maryland 21222
The Foundation is a private nonprofit organization that reports under FASB standards, including
FASB Statement No. 117, “Financial Reporting for Not-for-Profit Organizations.” As such,
certain revenue recognition criteria and presentation features are different from GASB revenue
recognition criteria and presentation features. No modifications have been made to the
Foundation‟s financial information in the College‟s financial report.
Nature of Activities
The CCBC Foundation, Inc. was incorporated under the laws of Maryland on June 29, 2005 and
commenced operations on July 1, 2005. The Foundation was formed for the purposes of
providing scholarships to students, administering funds restricted for special college programs,
and providing special awards and grants to students attending the Community College of
Baltimore County (the College) located in Baltimore County, Maryland. The CCBC Essex
Foundation, Inc. merged with the CCBC Foundation as of July 1, 2011.
Basis of Accounting
The financial statements of the Foundation have been prepared on the accrual basis of
accounting. Net assets and revenues, expenses, gains, and losses are classified on the existence
or absence of donor-imposed restrictions. Accordingly, net assets of the Foundation and changes
therein are classified and reported as follows:
Unrestricted net asset
Net assets that are not subject to donor-imposed stipulations.
Temporarily restricted net assets
Net assets subject to donor-imposed stipulations that may or will be met, either by actions of the
Foundation and/or the passage of time. When a restriction expires, temporarily restricted net
assets are reclassified to unrestricted net assets.
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30
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
JUNE 30, 2012
Temporarily restricted net assets are available for the following purposes:
Program activities:
Scholarships and instructional programs $ 3,370,806
Net assets were released from donor restrictions by incurring expenses satisfying the purpose or
time restrictions specified by donors as follows:
Purpose restriction accomplished:
Scholarships and instructional programs $ 865,599
Permanently restricted net assets
Net assets subject to donor-imposed stipulations that they be maintained permanently by the
Foundation. Generally, the donors of these assets permit the Foundation to use all or part of
income earned on any related investments for general or specific purposes.
Cash and Cash Equivalents
The Foundation considers all highly liquid debt instruments with a maturity of three months or
less at date of purchase to be cash equivalents.
Investments
Investment income and losses on investments of temporarily restricted assets is added to or taken
from temporarily restricted net assets when restricted as to use by the donor. Unrealized gains
(losses) on the invested corpus of the permanently restricted net assets are recorded within
temporarily restricted net assets. However, realized and unrealized losses on permanently
restricted net assets in excess of realized and unrealized gains on permanently restricted net
assets are recorded as reductions of unrestricted net assets.
The Foundation has investments with readily determinable fair values, which are reported at fair
value in the Statement of Net Assets. Investments whose fair value is not readily determinable
are recorded at cost. Gains and losses on investments for the year are reported in the Statement
of Revenues, Expenses and Changes in Net Assets.
Contributions Receivable
Pledges are recorded at the value pledged by the donor. Pledges deemed to be uncollectible are
charged directly against gift and contribution revenue and pledges receivable is reduced.
Unearned Revenue
The Foundation holds golf tournaments each year in July and September. All donations and fees
paid for the tournament prior to year end are recognized as unearned revenue.
____________________________________________________________________________
31
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
JUNE 30, 2012
Tax Status
The Foundation has been recognized by the Internal Revenue Service as a tax-exempt
organization as defined by Section 501(c)(3) of the Internal Revenue Code. The Foundation is
publicly supported and, therefore, not a private foundation.
Contributed Services
A substantial number of unpaid volunteers have made significant contributions of their time and
services to the Foundation. The value of this contributed time is not reflected in these financial
statements since it is not susceptible to objective measurement or valuation. The College has
allowed the Foundation to utilize office space on its campus. The utilities, water, and the space
are provided at no cost to the Foundation and are not deemed significant. There are no amounts
for utilities, water and the space reflected in the financial statements.
____________________________________________________________________________
32
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
NOTE 1 – COLLEGE CASH, CASH EQUIVALENTS AND INVESTMENTS
CCBC‟s policy is to invest funds in a manner which will provide the highest investment return
with the maximum security while meeting the daily cash flow needs of the business operations
and conforming to all state statutes governing the investment of public funds.
Deposits
At June 30, 2012, the bank deposits totaled $8,870,463. The carrying amount of those deposits
totaled $6,340,850. All of CCBC‟s bank balances are insured by the Federal Deposit Insurance
Corporation or secured by the US Government. The College‟s deposits are fully collateralized
under the Transaction Account Guarantee Program, which has been extended to December 31,
2012.
Cash and cash equivalents and investments
CCBC‟s investments conform to Article 95, Section 22 of the Annotated Code of Maryland.
Allowable investments include money market mutual funds, the Maryland Local Government
Investment Pool (MLGIP), repurchase agreements, bankers‟ acceptances, commercial paper and
various issuances of the United States, its agencies and instrumentalities.
At year-end, CCBC had investments in the MLGIP. The external investment pool is treated as a
2a-7pool. The MLGIP also has a Standard and Poor‟s rating of AAAm and is administered by
the State Treasurer. The College only invests in obligations that are AAA rated. Because of this,
any potential credit risk is minimized. The College has no formal policy relating to interest rate
or credit risk for investments. The funds maintain a $1.00 per share net asset value and are stated
at cost, which is the same as fair value. CCBC‟s cash and cash equivalents at June 30, 2012 are
summarized as follows:
Amount and
Fair Value
Cash $ 6,340,850
Maryland Local Government Investment Pool 7,163,497
MLGIP-Board Designated Fund (License Sale) 5,480,587
Total cash and cash equivalents (CCBC) $ 18,984,934
____________________________________________________________________________
33
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
NOTE 2 –CASH, CASH EQUIVALENTS AND INVESTMENTS - FOUNDATION
The Foundation has the following cash, cash equivalents and investments, which are carried at
fair value as of June 30, 2012 and are presented below.
CCBC Foundation endowment funds showing the net unrealized gain at June 30, 2012:
CCBC Foundation investment income consisted of the following at June 30, 2012:
CCBC
Foundation
Cash and cash equivalents $ 2,903,962
Investments:
University Systems of MD Foundation $ 5,672,112
Cost Market
Unrealized
Gain
USMF - endowment funds 4,769,724$ 5,672,112$ 902,388$
Unrestricted
Temporarily
Restricted Total
Interest and dividends 6,785$ 69,936$ 76,721$
Realized and unrealized income (233) 9,313 9,080
Investment expenses (3) (74,975) (74,978)
Total investment income 6,549$ 4,274$ 10,823$
____________________________________________________________________________
34
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
The table below shows the breakdown of holdings based on the percentage breakdown for the
entire Unitized Investment Fund invested by USMF at June 30, 2012 for the CCBC Foundation:
NOTE 3 – FAIR VALUE OF FINANCIAL INSTRUMENTS - FOUNDATION
The accounting guidance establishes a framework for measuring fair value. That framework
provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure
fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets
for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable
inputs (Level 3 measurements).
The three levels of the fair value hierarchy under the accounting guidance are described as
follows:
Level 1
Inputs to the valuation methodology are unadjusted quoted prices for identical assets or
liabilities in active markets that the Plan has the ability to access.
Level 2
Inputs to the valuation methodology include:
Quoted prices for similar assets or liabilities in active markets.
Quoted prices for identical or similar assets or liabilities in inactive markets.
Inputs other than quoted prices that are observable for the asset or liabilities.
Inputs that are derived principally from or corroborated by observable market data by
correlation or other means.
Endowment 2012
Money Market 5.69%
Long duration and low duration bond funds 2.05%
Foreign bonds 0.00%
Global equities 8.27%
US Treasury notes and bonds 1.45%
US agencies 0.00%
CMO's and asset-and-mortgage-backed securities 2.29%
Hedged Global and US equity 27.21%
Private capital 13.15%
Absolute return 19.55%
Real estate 9.15%
Energy and natural resources 11.19%
100.00%
____________________________________________________________________________
35
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
If the asset or liability has a specified (contractual) term, the Level 2 input must be
observable for substantially the full term of the asset or liability.
Level 3
Inputs to the valuation methodology are unobservable and significant to the fair value
measurement.
The asset or liability‟s fair value measurement level within the fair value hierarchy is based on
the lowest level of any input that is significant to the fair value measurement. Valuation
techniques used need to maximize the use of observable inputs and minimize the use of
unobservable inputs.
Some of USMF‟s investments may be illiquid and USMF may not be able to vary the portfolio in
response to changes in economic and other conditions. Some of the investments that are purchased
and sold are traded in private, unregistered transactions and are subject to restrictions on resale or
otherwise have no established trading market. In addition, if USMF is required to liquidate all or a
portion of its portfolio quickly, the Foundation may realize significantly less than the value at
which it previously recorded those investments.
Money market funds and short-term investments include amounts invested in accounts with
depository institutions which are readily convertible to known amounts of cash. USMF invests in
these assets to maintain liquidity for spending needs and unfunded commitment liability. Total
deposits maintained at these institutions at times exceed the amount insured by federal agencies
and therefore, bear a risk of loss. USMF has not experienced such losses on these funds. These
are included in Level 1.
For investments in U.S. treasury notes and bonds, corporate and foreign bonds, and collateralized
mortgage obligations and mortgage backed securities, fair value is based upon quotes for similar
securities; therefore these investments are rendered Level 2.
The value, liquidity, and related income of these securities are sensitive to changes in economic
conditions, including real estate value, delinquencies and/or defaults, and may be adversely
affected by shifts in the market‟s perception of the issuers and changes in interest rates and credit
downgrades. USMF invests in these assets to protect in the event of sudden interest rate changes as
well as to maintain liquidity for spending needs and unfunded commitment liability.
In general, equity securities traded on national securities exchanges are valued at the last quoted
sales price, except securities traded on the NASDAQ Stock Market, Inc. (NASDAQ), which are
valued in accordance with the NASDAQ Official Closing price. Over the counter securities are
valued at the mean between the latest bid and asked prices as furnished by dealers who make
markets in such securities. Equities are classified as Level 1. USMF invests in equities to gain
exposure to the overall direction of global equity markets.
____________________________________________________________________________
36
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
Absolute return assets consist of investments that involve the purchase and sale of shares in
companies that are the subject of publicly announced transactions, including corporate
combinations (for cash or exchange of shares), tender offers, restructurings, liquidations,
bankruptcies, capitalizations and deals in distressed securities, which are discounted securities of a
company in financial distress or bankruptcy. The fair value of these investments has been
estimated using the net asset value per share of the investments. The majority of these investments
can be redeemed within one year. The remainder of these investments has liquidity provisions that
extend past one year. Notice period for redemption of investment ranges from one month to six
months. There are no outstanding unfunded commitments to this asset category.
Long/short strategies take long and short positions in publicly traded equity securities in an effort
to achieve attractive returns with moderate risk. Also included in these categories are off-shore
investment vehicles. The investment managers, as noted in the audited financial statements, value
the assets held in the fund at all hierarchy levels. However, USMF‟s subscription agreement locks
up its investment for a period of time and does not allow for sale to another. Also, early
withdrawal carries a penalty. Therefore, even though the underlying assets in some of the vehicles
are readily saleable in the open market, USMF does not have that ability and, therefore, has
classified investments in those vehicles as Level 3. The fair value of these investments has been
estimated using the net asset value per share of the investments. The majority of these investments
can be redeemed within one year. The remainder of these investments has liquidity provisions that
extend past one year. Notice period for redemption ranges from one month to six months. There
are no outstanding commitments to this asset category.
Private capital consists of private equity and venture capital investments. Private equity
investments represent purchases of all or a portion of the equity interest in a company and the
arrangement allows the purchasing group to take control. Venture capital investments are made in
non-marketable securities of new companies or companies considered to be in the early stages of
growth.
Real estate, energy and natural resources investments include investments in partnerships where
the underlying investment is real estate or related to the energy sector. Investments in private
equity investment companies and funds are presented at fair value as approved by USMF‟s
management based, in part, on information and valuations provided by the general partner of the
partnerships or investment manager.
The general partner or manager generally values their investments at fair value. Securities with no
readily available market are initially valued at cost, with subsequent adjustment to values which
reflect either the basis of meaningful third-party transactions in the private market or the fair value
deemed appropriate by USMF‟s management.
____________________________________________________________________________
37
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
In such instances, consideration is also given to the financial condition and operating results of the
issuer, the amount that the investment company/fund can reasonably expect to realize upon the sale
of the securities, and any other factors deemed relevant. Such value represents USMF‟s
proportionate share of the capital in the investment company/fund. Accordingly, the value of the
investment is generally increased by additional contributions and the share of net earnings from the
investments and decreased by distributions from the partnerships and the partner‟s share of net
losses. These investments have been labeled as Level 3 based on their lock up periods and the
transparency of their assets. Redemption of these investments is left to the discretion of the general
partner/manager of the funds. Distributions from each fund will be received as the underlying
investments are liquidated. As of June 30, 2012, unfunded commitments within the private capital
category and the real estate and energy and natural resources category equal approximately 31.1%
and 16.6% of the assets in those categories, respectively.
The methods described above may produce a fair value calculation that may not be indicative of
net realizable value or reflective of future fair values. Furthermore, while USMF believes its
valuation methods are appropriate and consistent with other market participants, the use of
different methodologies or assumptions to determine the fair value of certain financial instruments
could result in a different estimate of fair value at the reporting date.
The following table presents assets and liabilities measured at fair value by classification within
the fair value hierarchy as of June 30, 2012. The categorizations within the fair value hierarchy
of the assets at USMF represent the Foundation‟s proportion of its assets of the total held by the
pool for each category as disclosed by USMF:
As of June 30, 2012:
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3) Total
Assets as USMF 970,881$ 486,130$ 4,215,101$ 5,672,112$
____________________________________________________________________________
38
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
The following is a reconciliation of the beginning and ending balances of assets and liabilities
measured at fair value on a recurring basis using significant unobservable (Level 3) inputs during
the year ended June 30, 2012 for the CCBC Foundation:
NOTE 4 – CONTRIBUTIONS RECEIVABLE – FOUNDATION
The discount rate used on long-term promises to give was 0.37% in 2012, which was calculated
using discount rates for United States Treasury securities for the applicable terms. Management
recorded an allowance of $8,000 at June 30, 2012 for pledge balances deemed uncollectible. The
current amount (amount receivable within one year) of the contributions receivable is $121,978
as shown on the Statement of Net Assets under current assets. The rest is recorded under
noncurrent assets.
Balance, July 1, 2011 3,018,122$
Investments from merger 1,601,906
Realized/unrealized gains 55,548
Net purchases (460,475)
Balance, June 30, 2012 4,215,101$
Unconditional promises to give at June 30 are as follows:
2012
Amounts due in:
Less than one year 131,062$
One to five years 161,712
292,774
Less: discounts to net present value (1,084)
Allowance for doubtful accounts (8,000)
Net unconditional promises to give 283,690$
____________________________________________________________________________
39
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
NOTE 5 – CAPITAL ASSETS
NOTE 6 - OPERATING LEASES
CCBC has entered into operating lease agreements for instructional facilities with expiration
dates at various times from October 2013 to July 2021. The minimum future rentals as of June
30, 2012 were as follows:
Balance Additions Deletions Balance
June 30, 2011 and Transfers and Transfers June 30, 2012
Capital assets not being depreciated
Land $ 4,797,824 $ - $ - $ 4,797,824
Construction in progress 13,190,839 23,893,688 7,300,629 29,783,898
Total capital assets not being
depreciated 17,988,663 23,893,688 7,300,629 34,581,722
Capital assets being depreciated
Buildings and improvements 151,736,913 7,189,125 - 158,926,038
Infrastructure 25,243,759 - - 25,243,759
Equipment 19,015,743 630,321 - 19,646,064
Vehicles 2,281,188 144,361 - 2,425,549
Capital leases 2,052,448 15,156 - 2,067,604
Library materials 6,460,077 260,031 - 6,720,108
Total capital assets being depreciated 206,790,128 8,238,994 - 215,029,122
Less accumulated depreciation
Buildings and improvements 56,555,371 5,560,408 - 62,115,779
Infrastructure 14,642,607 782,177 - 15,424,784
Equipment 13,068,263 1,157,179 - 14,225,442
Vehicles 1,645,497 166,374 - 1,811,871
Capital leases 128,278 257,966 - 386,244
Library materials 5,484,676 297,721 - 5,782,397
Total accumulated depreciation 91,524,692 8,221,825 - 99,746,517
Total capital assets being depreciated, net 115,265,436 17,169 - 115,282,605
Total capital assets, net $ 133,254,099 $ 23,910,857 $ 7,300,629 $ 149,864,327
____________________________________________________________________________
40
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
Lease expense under these agreements for the year ended June 30, 2012 was $1,127,528 for
building rentals and $926,912 for equipment rentals, for a total of $2,054,440.
NOTE 7 – CAPITAL LEASES
CCBC has entered into an agreement for the lease of computer and networking services for IT
infrastructure/networking equipment and data center equipment for a period of five years. These
lease agreements qualify as capital leases for accounting purposes and have been recorded at the
present value of the future minimum lease payments at the inception date. Assets acquired under
leases were capitalized in accordance with GAAP (generally accepted accounting principles).
The current amount (amount due within one year) of the capital lease is $451,044 as shown on
the Statement of Net Assets under current liabilities.
As of June 30, 2012, the total future minimum payments under capital leases were as follows:
Year
Instructional
Facilities
2013 1,108,934$
2014 755,371
2015 613,828
2016 457,649
2017 471,339
2018-2021 2,031,050
Total future minimum rentals 5,438,171$
Year Total
2013 451,044$
2014 451,044
2015 362,643
2016 181,322
Total commitment under capital leases 1,446,053
Less amounts representing interest (65,665)
Present value of future minimum lease payments 1,380,388$
____________________________________________________________________________
41
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
NOTE 8 – NONCURRENT LIABILITIES
Noncurrent liabilities of CCBC consist of accrued compensated absences, the long term capital
lease obligations and the Net OPEB obligation (NOO). Changes in noncurrent liabilities are as
follows:
NOTE 9 - PENSION AND RETIREMENT PLANS
State of Maryland Pension Plans
CCBC‟s professional and classified employees, other than security and plant operations
employees, are covered by either the Teachers Retirement System of the State of Maryland or the
Teachers‟ Pension System of the State of Maryland. These systems are part of the Maryland
State Retirement and Pension System (the State System), and are cost-sharing multiple-employer
public employee retirement systems. The State System provides pension, death and disability
benefits to plan members and beneficiaries. The State of Maryland pays substantially all
required employer contributions on behalf of CCBC. The plan is administered by the State
Retirement Agency (the Agency). Responsibility for the administration and operation of the
State System is vested in a 14-member Board of Trustees.
The State System was established by the State Personnel and Pensions Article of the Annotated
Code of Maryland. The Agency issued a publicly available financial report that includes
financial statements and required supplementary information for the State System. That report
may be obtained by writing to the State Retirement and Pension System of Maryland, 120 East
Baltimore Street, Baltimore, Maryland, 21202, or by calling 410-625-5555.
The State Personnel and Pensions Article require active members to contribute to the State
System at the rate of 5.0% of their covered salary depending upon the retirement option selected.
The combined State contribution rate is established by annual actuarial valuations. The rate is
sufficient to fund normal costs and amortize the unfunded actuarial accrued liability over a 40-
year period (as provided by law) from July 1, 1980. Also as provided by law, any new unfunded
liabilities or surpluses arising during the fiscal year ended June 30, 2001, or any fiscal year
thereafter, will be amortized over a 25-year period from the end of the fiscal year in which the
liability or surplus arose. The State‟s contributions on behalf of CCBC for the years ended
Balance Balance Due within
June 30, 2011 Additions Reductions June 30, 2012 One Year
Compensated absences $ 5,370,176 $ 3,909,733 $ 3,413,415 $ 5,866,494 $ 3,884,320
Capital leases 1,771,126 20,024 410,762 1,380,388 451,044
Net OPEB Obligation (NOO) 880,063 12,455,000 5,597,288 7,737,775 -
Noncurrent liabilities 8,021,365$ 16,384,757$ 9,421,465$ 14,984,657$ 4,335,364$
____________________________________________________________________________
42
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
June 30, 2012, 2011 and 2010 were $5,356,938; $5,228,367; and $4,650,911, respectively, which
were equal to the required contributions for each year and are recognized as revenue (expenses)
during the fiscal year. In addition to the State‟s contributions, the employees contributed
$2,761,611; $1,979,298; and $1,906,939, for the respective years.
Baltimore County Plan
For the security and plant operations employees, CCBC contributes to The Employee‟s
Retirement System of Baltimore County (the System), a cost-sharing multiple-employer public
employee retirement system that acts as a common investment and administrative agent serving
five entities including the County and certain employees of the Board of Education, Board of
Library Trustees, CCBC and the Baltimore County Revenue Authority. The System provides
retirement and disability benefits, annual cost-of-living adjustments and death benefits to plan
members and beneficiaries. The authority to establish and maintain the System is specified in
Section 23-1 of the Baltimore County Code. The System issues a separately prepared
comprehensive annual financial report that includes financial statements and required
supplementary information. The report may be obtained by writing to the Employees‟
Retirement System of Baltimore County, 400 Washington Avenue, Room 108, Towson,
Maryland 21204.
System members contribute a percentage of their salary to the System determined by the County
Code. The contribution rates for members hired prior to July 1, 2007 are actuarially determined
based on the member‟s age at enrollment and employee classification. Contribution rates for
members hired on or after July 1, 2007 are fixed based on employee classification.
CCBC is required to make contributions at actuarially determined rates that, expressed as
percentages of annual covered payroll, are sufficient to pay benefits when due. The contribution
requirements of plan members and the employers are established and may be amended by the
Baltimore County Council. CCBC‟s contributions to the System for the fiscal years ended June
30, 2012, 2011 and 2010 were $279,909; $214,86; and $232,297, respectively, which were equal
to the required contributions for each year.
Optional Defined Contribution Plan
Professional employees otherwise eligible to join the State of Maryland Plan may choose instead
to join the Optional Retirement Plan administered by the State of Maryland. This plan is a
noncontributory defined contribution plan. The plan provides for retirement and death benefits.
The plan was established by and can be amended by the State Legislature. The State of
Maryland contributes 7.25% of eligible salaries on behalf of CCBC. For the year ended June 30,
2012, the contribution made by the State of Maryland was $1,913,958.
____________________________________________________________________________
43
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
Deferred Compensation Plans
CCBC offers a defined contribution 403(b) retirement plan to all of its eligible employees. The
plan is contributory on a voluntary basis with all contributions being paid to the trustee. CCBC
makes no basic or matching contributions on behalf of its employees. In addition to the 403(b)
plan, there is a 457(b) Plan, which was implemented in March 2008. This Plan provides
employees with a second major retirement tax deferral option. This plan is also contributory on
a voluntary basis with all contributions paid to the trustee. Employees have the option to choose
either or both plans that will allow more savings on a tax-deferred basis for retirement.
Certain Fringe Benefits Paid by the State of Maryland
The State of Maryland contributed a total of $7,270,896 for all retirement plans for the year
ended June 30, 2012. These on-behalf payments are included as amounts of nonoperating
revenues and operating expenses in the accompanying statements.
NOTE 10 – POSTEMPLOYMENT HEALTHCARE PLAN
The GASB has issued Statement Number 45, Accounting and Financial Reporting by Employers
for Postemployment Benefits Other Than Pensions. This standard requires the recognition of the
cost of these benefits during the period of employment rather than in periods (often many years
later) when the benefits are actually paid.
Plan Description. In addition to the pension benefits described in Note 9, CCBC provides
postemployment health care benefits, in accordance with State statutes, to all employees who are
disabled or retire from CCBC with at least 10 years of service. CCBC currently has 696 eligible
retirees as of June 30, 2012. CCBC allows such retirees to continue coverage under the group
health plan and contributes between 35.0% and 90.0% of premiums based on the employee's
years of service. Effective January 1, 2011, college retirees who are not Medicare eligible have
the choice of the CIGNA Open Access Plus In-Network (OAPIN), CIGNA Open Access Plus
(OAP), or the Kaiser Permanente HMO. Retirees may also choose a prescription plan. College
retirees who are Medicare eligible may participate in the Cigna Medicare Surround Plan with or
without a prescription plan.
Funding Policy. The contribution requirements of plan members are established and may be
amended by the CCBC Board of Trustees. The College‟s policy regarding the subsidizing of
retiree health benefits is shown in the chart on the next page.
The two-tier system shows the policy as it applies to employees hired before and after 7/1/07 as
shown on the next page.
____________________________________________________________________________
44
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
The annual required contribution of the employer (ARC) is an amount actuarially determined in
accordance with the parameters of GASB Statement 45. The ARC represents a level of funding
that, if paid on an ongoing basis, is projected to cover normal cost each year and amortize any
unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years. The
current ARC rate is 16.34% of annual covered payroll.
Annual OPEB Cost (AOC). For FY2012, CCBC‟s net annual OPEB cost (expense) in the amount
of $12,455,000 is equal to the ARC, $12,458,000 less net adjustments for interest on the Net
OPEB Obligation (NOO) in the amount of ($3,000). The AOC was partially funded by the
College in the amount of $5,597,288.
CCBC‟s annual OPEB cost, the percentage of annual OPEB cost contributed to the plan, and the
resulting net OPEB asset for the last five fiscal years were as follows:
The Net OPEB Obligation (NOO) is recorded as a reduction in unrestricted net assets on the
Statement of Net Assets.
Years of Service
(Employees Hired
before 07/01/07)
(Employees Hired on or
after 07/01/07)
Less than 10 years no subsidy no subsidy
10-14 years 50% subsidy 35% subsidy
15-19 years 75% subsidy 50% subsidy
20-24 years 85% subsidy 60% subsidy
25-29 years 85% subsidy 70% subsidy
30-34 years 85% subsidy 80% subsidy
35+ years 85% subsidy 85% subsidy
Fiscal Year
Ended
Annual
OPEB Cost
Percentage of Annual
OPEB Cost
Contributed
Net OPEB
Obligation
(Asset)
June 30, 2008 $ 6,571,000 100% $ -
June 30, 2009 6,759,000 153% (3,580,757)
June 30, 2010 6,803,000 78% (2,103,847)
June 30, 2011 8,310,000 64% 880,063
June 30, 2012 12,455,000 45% 7,737,775
____________________________________________________________________________
45
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
The following table shows the components of CCBC‟s annual OPEB cost, contributions made
and the Net OPEB Obligation at June 30, 2012.
Funded Status and Funding Progress. The funded status of the plan as of the July 1, 2011
actuarial report (reports are generated every two years) was as follows:
The schedule of funding progress in Required Supplemental Information represents multi-year
trend information about whether the actuarial value of plan assets is increasing or decreasing
relative to the actuarial accrued liability for benefits over time.
Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and
assumptions about the probability of occurrence of events far into the future. Examples include
assumptions about future employment, mortality, and the healthcare cost trend. Amounts
determined regarding the funded status of the plan and the annual required contributions of the
employer are subject to continual revision as actual results are compared with past expectations
and new estimates are made about the future. This fund, to provide for the future benefits for
retirees of the College, is being managed by Baltimore County.
Actuarial Methods and Assumptions. Projections of benefits for financial reporting purposes are
based on the substantive plan (the plan as understood by the employer and plan members) and
include the types of benefits provided at the time of each valuation and the historical pattern of
sharing of benefit costs between the employer and plan members to that point. The actuarial
methods and assumptions used include techniques that are designed to reduce short-term
Annual required contribution (ARC) $ 12,458,000
Interest on net OPEB obligation 35,000
Adjustment to ARC (38,000)
Annual OPEB cost (expense) 12,455,000
Contributions made (5,597,288)
Increase in net OPEB obligation 6,857,712
Net OPEB obligation, beginning of year 880,063
Net OPEB obligation, end of year 7,737,775$
Actuarial accrued liability (AAL) 167,523,000$
Actuarial value of plan assets 13,527,000
Unfunded actuarial accrued liability (UAAL) 153,996,000$
Funded ratio (actuarial value of plan assets/AAL) 8.1%
Covered payroll (active plan members) 76,242,505$
UAAL as a percentage of covered payroll 202.0%
____________________________________________________________________________
46
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long-
term perspective of the calculations.
In the July 1, 2011 actuarial valuation for FY2012, the projected unit credit cost method was
used. The actuarial assumptions included a 4.0% investment rate of return (net of administrative
expenses) and an annual healthcare cost trend rate that is consistent with the best estimate of
GNP growth or 1.4%. The rate of income growth is assumed to be 3% annually. The rates
include a 2.9% inflation assumption. CCBC‟s unfunded actuarial accrued liability (UAAL) is
being amortized as a level percentage of projected payroll. The UAAL is amortized over a period
of 30 years using level percentage of projected payroll amortization factor. The remaining
amortization period at June 30, 2012 was twenty-five years.
NOTE 11 - BALTIMORE COUNTY BONDS OUTSTANDING
Amounts received from Baltimore County include proceeds of Baltimore County Community
College Bonds that are direct obligations of the County. As of June 30, 2012, CCBC related
County bonds outstanding totaled $80,910,000 and were due in annual installments through
February 1, 2032. While CCBC is not directly obligated to repay principal and interest on any
bonded debt, the County charged CCBC‟s budgeted appropriation for debt service of $5,794,873
for the year ended June 30, 2012. For financial statement purposes, this amount is not included
in the County appropriation nor reflected as an expense.
NOTE 12 - RISK MANAGEMENT
CCBC is exposed to various risks of loss related to torts; theft of, damage to, and destruction of
assets; errors and omissions; employee health and accident; and natural disasters. CCBC
manages some of its risk by participating in Baltimore County‟s Self-Insurance Program Fund
(SIPF). The participation in the SIPF is intended to provide CCBC with general liability and
worker‟s compensation coverage. The SIPF pays claims by charging a premium to the
participants based on prior years‟ actual claims.
In addition, CCBC purchases commercial insurance to protect its interest in its property and
equipment, insurance against employee dishonesty and liability protection providing coverage
for students receiving instruction and training in various allied health fields. CCBC also
purchases private insurance for employee health coverage. Settled claims have not exceeded this
commercial coverage for the past three fiscal years.
CCBC (and/or its agents and employees) is a defendant in various lawsuits alleging tortious
conduct. Management intends to defend itself in these matters and any potential claims that may
result from these lawsuits will be satisfied by Baltimore County (pursuant to the terms and
conditions of the SIPF), not CCBC, thus any resolutions of these matters should not directly
affect the financial statements of CCBC.
____________________________________________________________________________
47
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
NOTE 13 - CONTINGENCIES
Most grants and cost-reimbursable contracts specify the types of expenditures for which the
grant or contract funds may be used. The expenditures made by CCBC under some of these
grants and contracts are subject to audit. To date, CCBC has not been notified of any significant
unallowable costs relating to its grants or contracts. In the opinion of management, the
expenditures that have been made for grants and contracts were made in accordance with the
provisions of such grants and contracts. Any adjustments for unallowable costs, if any, that
would result from audits will not have a material effect on CCBC‟s financial statements.
NOTE 14 – DIRECT LENDING
CCBC participates in the federal direct lending program. Direct lending is making it easier for
students to secure loan funding for their education. For the year ended June 30, 2012, the total
amount loaned to CCBC students through direct lending was $33.51 million.
NOTE 15 - RELATED PARTY TRANSACTIONS
CCBC is affiliated with The CCBC Foundation (the Foundation). The primary purpose of the
Foundation is to enhance the educational activities of the campuses of CCBC. The Foundation
assists CCBC in expanding and enhancing its contribution to the local communities by providing
resources that would otherwise not be available.
CCBC paid, on behalf of the Foundation, a percentage of various overhead related expenses
totaling approximately $280,348 during the year ended June 30, 2012.
The Foundation‟s Board of Directors and CCBC have elected to treat scholarship funding of
approximately $666,869 and other donations of approximately $234,142 to CCBC during the
year ended June 30, 2012 as more than adequate reimbursement for these expenditures.
____________________________________________________________________________
48
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
NOTE 16 - EXPENSE CLASSIFICATION
The basic financial statements presented disclose expenses in a functional classification based
upon standard industry presentations. The following presents this data by natural classification:
NOTE 17 – BOARD DESIGNATION
In FY2008, CCBC sold its EBS channels to HITN (Hispanic Information and
Telecommunications Network, Inc.) Spectrum. This sale, which required FCC approval, public
notice and review, was completed in early November 2007 when the funds were remitted to
CCBC.
Consistent with GAAP; the Board of Trustees has chosen to designate the proceeds for future
purposes. The Board can modify the amount or purpose of the fund. These funds are included in
the Maryland Local Government Investments Pool (MLGIP) and earn interest. The total bank
balance including the applicable interest as of June 30, 2012 is $5.48 million and is included in
unrestricted net assets on the Statement of Net Assets.
NOTE 18 – ENDOWMENTS – FOUNDATION
The Foundation‟s endowments consist of 197 funds established to support a variety of
scholarships at the Community College of Baltimore County. Its endowments consist of donor-
restricted endowment funds. As required by generally accepted accounting principles, net assets
associated with endowment funds, including funds designated by the Board to function as
endowments, are classified and reported based on the existence or absence of donor-imposed
restrictions.
2012
Compensation (including fringe benefits) 142,053,542$
Contracted services 17,229,251
Supplies and materials 4,868,897
Communications 1,515,992
Conferences and meetings 2,007,397
Utilities 2,923,085
Furniture and equipment 6,738,590
Fixed charges 1,345,017
Depreciation 8,221,825
Student aid 19,699,324
Cost of goods sold 8,532,683
Other 9,074,516
Total 224,210,119$
____________________________________________________________________________
49
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
Interpretation of Relevant Law
The Board of the Foundation has interpreted the State Prudent Management of Institutional
Funds Act (SPMIFA) as requiring the preservation of the fair value of the original gift as of the
gift date of the donor-restricted endowment funds absent explicit donor stipulations to the
contrary. Consequently, the Foundation classifies permanently restricted net assets as:
The original value of gifts donated to the permanent endowment, and
The original value of subsequent gifts to the permanent endowment.
The remaining portion of the donor-restricted endowment fund not classified as permanently
restricted is classified as temporarily restricted net assets until those amounts are appropriated for
expenditure by the Foundation‟s Board. In accordance with SPMIFA, the Foundation considers
the following factors in making a determination to appropriate or accumulate donor-restricted
endowment funds:
1. The duration and preservation of the fund
2. The purpose of the Foundation and the donor-restricted endowment fund
3. General economic conditions
4. The possible effect of inflation and deflation
5. The expected total return from income and the appreciation of investments
6. Other resources of the Foundation
7. The investment policies of the Foundation
Return Objectives and Risk Parameters
The Foundation has adopted investment and spending policies for endowment assets that attempt
to provide a predictable stream of funding to the programs supported by the endowments. The
endowment assets are invested in a manner that is intended to provide results similar to the S&P
500 index while assuming a moderate level of investment risk.
Spending Policy
The Foundation has a policy of appropriating for distribution each year 4.0 to 5.0 percent of its
endowment fund‟s average balance over the prior three years preceding the fiscal year in which
the distribution is planned. Because this amount is calculated for the next fiscal year, the amount
appropriated for the following fiscal year is added to temporarily restricted net assets in the
current year.
In establishing this policy, the Foundation considered the long-term expected returns on its
endowment investments. Accordingly, over the long term, the Foundation expects the current
spending policy will allow its endowment to retain the original fair value of the gift.
____________________________________________________________________________
50
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
Funds with Deficiencies
From time to time, the fair value of assets associated with individual donor restricted endowment
funds may fall below the level that the donor or SPMIFA requires the Foundation to retain as a
fund of perpetual duration. As of June 30, 2012, no deficiencies of this nature were reported in
unrestricted net assets.
Strategies Employed for Achieving Objectives
The Foundation relies on a total return strategy in which investment returns are achieved through
capital appreciation and current yield (interest and dividends). The Foundation targets a
diversified asset allocation that emphasizes fixed income securities to achieve its long-term
objectives within prudent risk constraints.
Changes in endowment net assets for the fiscal year ended June 30, 2012 are shown below:
NOTE 19 – SUBSEQUENT EVENTS - FOUNDATION
The Foundation has evaluated subsequent events through September 26, 2012, the date the
financial statements were available to be issued. Events or transactions occurring after June 30,
2012, but prior to September 26, 2012 that provided additional evidence about conditions that
existed at June 30, 2012 have been recognized in the financial statements for the year ended June
30, 2012. Events or transactions that provided evidence about conditions that did not exist at
June 30, 2012 but arose before the financial statements were available to be issued have not been
recognized in the financial statements for the year ended June 30, 2012.
This information is an integral part of the accompanying financial statements.
Temporarily Permanently
Unrestricted Restricted Restricted Total
Endowment net assets,
beginning of year -$ 548,760$ 3,112,376$ 3,661,136$
Transfer from merged entity - 596,525 1,320,683 1,917,208
Investment Return:
Investment income - 4,273 - 4,273
Total - 4,273 - 4,273
Contributions collected - - 58,973 58,973
Appropriations of endowment assets - (2,872) - (2,872)
Transfers - - (2,802) (2,802)
Endowment net assets, end of year -$ 1,146,686$ 4,489,230$ 5,635,916$
required supplementaryinformation
MCM LV I I
F Y 2 0 1 1 - F Y 2 0 1 3S t r a t e g i c D i r e c t i o n s
ii teaching and learning
excellence
CCBC will provide and support a quality educational
experience for students by ensuring state-of-the-art
teaching that combines outstanding faculty with
committed support and services staff.
____________________________________________________________________________
51
Schedule of Funding Progress for Other Postemployment Benefits Based on Actuarial Valuation Data as of July 1, 2011
The GASB has issued Statement Number 45, Accounting and Financial Reporting by Employers
for Postemployment Benefits Other Than Pensions. The following schedule is required and
represents five years of funded status and funding progress for CCBC. Please refer to Note 10 of
the financial statements on pages 43-46 for a more detailed description of CCBC‟s reporting of
Other Postemployment Benefits (OPEB) for FY2012.
REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Funding Progress
Actuarial Valuation Date
Actuarial Value of Assets (a)
Actuarial Accrued Liability (AAL)- Entry Age (b)
Unfunded AAL (UAAL) (b - a)
Funded Ratio (a / b)
Covered Payroll (c)
UAAL as a Percentage of Covered Payroll ((b - a) / c)
7/1/2007 $0 $75,875,000 $75,875,000 0% $64,369,935 117.9%
7/1/2008 $8,075,000 $85,409,000 $77,334,000 9.5% $66,296,476 116.6%
7/1/2009 $10,427,000 $90,589,000 $80,162,000 11.5% $70,266,951 114.1%
7/1/2011 $11,703,000 $106,527,000 $94,824,000 11.0% $73,735,641 128.6%
7/1/2012 $13,527,000 $167,523,000 $153,996,000 8.1% $76,242,505 202.0%
This schedule represents years one through five and will accumulate each year until six years of
data becomes available.
Schedule of Contributions
Fiscal Year
Ended
Annual
Required
Contribution
Amount
Contributed
Percentage
Contributed
June 30, 2008 $ 6,571,000 $ 6,571,000 100%
June 30, 2009 6,847,000 10,339,757 151%
June 30, 2010 6,862,000 5,326,090 78%
June 30, 2011 8,333,000 5,326,090 64%
June 30, 2012 12,458,000 5,597,288 45%
CCBCThe Community College
of Baltimore County
This page intentionally left blank.
other supplementaryinformation
MCM LV I I
F Y 2 0 1 1 - F Y 2 0 1 3S t r a t e g i c D i r e c t i o n s
iii organizational excellence
CCBC will promote an organizational culture that
encourages excellence and success by developing and
supporting individuals, teams and processes that
contribute to the effective and responsible management
of teaching and learning, student success, human
resources, facilities, services, technology and finances.
____________________________________________________________________________
52
Variance
Revenue Positive
Actual Budget (Negative)
Educational and General
Credit tuition $ 57,662,954 $ 57,430,620 $ 232,334
Credit fees 14,007,199 14,177,123 (169,924)
Subtotal 71,670,153 71,607,743 62,410
Non-credit tuition and fees 9,872,143 10,679,583 (807,440)
Total tuition and fees 81,542,296 82,287,326 (745,030)
Governmental Aid
State of Maryland 34,398,366 34,398,366 -
Baltimore County 44,257,668 44,257,668 -
Total governmental aid 78,656,034 78,656,034 -
Interest Income and Other Sources 1,535,767 1,363,996 171,771
Auxiliary Enterprises, net 1,290,053 1,621,274 (331,221)
Total revenue - unrestricted funds $ 163,024,150 $ 163,928,630 $ (904,480)
For the year ended June 30, 2012
Comparison of Actual and Budget
Revenue for Unrestricted Current Funds
____________________________________________________________________________
53
Positive
Actual Budget (Negative)
Instruction:
Salaries and wages $ 69,641,829 $ 70,190,388 $ 548,559
Contracted services 4,680,621 4,690,256 9,635
Supplies and materials 1,566,321 1,672,569 106,248
Conferences and meetings 498,096 546,490 48,394
Furniture and equipment 3,274,903 3,696,969 422,066
Total instruction 79,661,771 80,796,672 1,134,901
Public service:
Salaries and wages 389,907 389,989 82
Contracted services 1,197 1,370 173
Supplies and materials 9,688 9,745 57
Conferences and meetings 2,174 2,200 26
Total public service 402,966 403,304 338
Academic support:
Salaries and wages 10,590,911 10,709,629 118,718
Contracted services 223,668 257,266 33,598
Supplies and materials 267,165 290,832 23,667
Conferences and meetings 92,959 127,887 34,928
Fixed charges 212,202 215,360 3,158
Furniture and equipment 88,238 99,871 11,633
Total academic support 11,475,143 11,700,845 225,702
Student services:
Salaries and wages 14,039,106 14,158,697 119,592
Contracted services 980,466 983,161 2,695
Supplies and materials 235,180 248,350 13,170
Conferences and meetings 69,855 70,416 561
Furniture and equipment 20,208 22,266 2,058
Total student services 15,344,815 15,482,890 138,075
Institutional support:
Salaries and wages 23,023,277 23,089,375 66,098
Contracted services 6,593,251 6,595,317 2,066
Supplies and materials 585,461 586,149 688
Communications 1,471,491 1,531,932 60,441
Conferences and meetings 440,928 441,124 196
Fixed charges 357,519 357,860 341
Furniture and equipment 628,972 632,843 3,871
Total institutional support 33,100,898 33,234,600 133,702
Operation and maintenance of plant:
Salaries and wages 6,960,948 7,105,289 144,341
Contracted services 3,797,270 3,800,967 3,697
Supplies and materials 1,186,871 1,191,738 4,867
Conferences and meetings 6,072 8,405 2,333
Utilities 3,182,542 3,221,212 38,670
Fixed charges 237,915 240,000 2,085
Furniture and equipment 329,694 337,891 8,197
Total operation and maintenance of plant 15,701,311 15,905,502 204,191
Mandatory transfers 7,109,040 7,209,873 100,833
Total current funds - unrestricted $ 162,795,944 $ 164,733,686 $ 1,937,743
Comparison of Budget Basis Expenditures and Encumbrances with
Budgeted Appropriations - Unrestricted Current FundsFor the year ended June 30, 2012
____________________________________________________________________________
54
Children's Total
Food Learning Auxiliary
Bookstore Service Center Enterprises
Net sales 11,368,948$ -$ -$ 11,368,948$
Cost of goods sold 8,532,683 - - 8,532,683
Gross profit on sales 2,836,265 - - 2,836,265
Other income 17,001 190,488 878,429 1,085,918
Total income 2,853,266 190,488 878,429 3,922,183
Less expenses:
Salaries and benefits 933,185 - 1,119,325 2,052,510
Other expenses 186,125 32,707 133,132 351,964
Total expenses 1,119,310 32,707 1,252,457 2,404,474
Income (loss) of
auxiliary enterprises 1,733,956$ 157,781$ (374,028)$ 1,517,709$
Bookstore percentages:
Gross profit to net sales 24.9%
Expenses to net sales 9.8%
Revenue Expenditures
Bookstore net sales 11,368,948$ Bookstore cost of goods sold 8,532,683$
Other income 1,085,918 Total expenses 2,404,474
Scholarship allowances (3,385,505) Eliminations (144,962)
Interfund sales (229,200)
Total 8,840,161$ Total 10,792,195$
Summary of Total Revenue and Expenditures
Reconciliation to Statement of Revenues, Expenses and Changes in Net Assets
Operations of Auxiliary EnterprisesFor the year ended June 30, 2012
____________________________________________________________________________
55
Credit Non-Credit Total
Maryland resident students:
In county credit students 11,593.95 - 11,593.95
Out of county credit students 3,853.43 - 3,853.43
Non-credit students - 4,505.77 4,505.77
Total state eligible FTE's 15,447.38 4,505.77 19,953.15
Total ineligible FTE's
Out of State 438.88 - 438.88
Other 88.58 354.91 443.49
Total ineligible FTE's 527.46 354.91 882.37
Total FTE's 15,974.84 4,860.68 20,835.52
For the year ended June 30, 2012
Schedule of Full-Time Equivalent Students
statisticalsection
MCM LV I I
F Y 2 0 1 1 - F Y 2 0 1 3S t r a t e g i c D i r e c t i o n s
iv community engagement
CCBC will earn the support and respect of our
communities by being a good neighbor and providing
beneficial learning experiences highly valued by
individuals, community organizations, businesses,
industries and the county government.
____________________________________________________________________________
56
Statistical Section
This section of the CCBC comprehensive annual financial report presents detailed information as
a context for understanding what the information in the financial statements, note disclosures,
and required supplementary information says about CCBC‟s overall financial health.
Since CCBC is a component unit of Baltimore County, Maryland, there is data included from the
Baltimore County comprehensive annual financial report. The data contained in the County
schedules has not been subjected to independent audit. The schedules are intended to support the
basic financial statements and supporting schedules in the Financial Section.
Financial Trends
The following schedules contain trend information to help the reader understand how CCBC and
Baltimore County‟s performance and well-being has changed over time.
Unrestricted funds-Revenue and expenditures by function (budget basis)
Net assets and changes in net assets (ten-year trend)
Net assets and changes in net assets by component – Baltimore County, Maryland
(ten-year trend)
Fund balances of governmental funds – Baltimore County, Maryland (ten-year trend)
Schedule of Capital Asset Information
Revenue Capacity
The following schedules contain information to help the reader assess CCBC‟s most significant
local revenue source, tuition and fees.
Full-time equivalent students (ten-year trend)
Tuition and fees for full-time credit students (ten-year trend)
General fund tax revenues by source, Baltimore County, Maryland
Property tax levies & collections – Baltimore County, Maryland
Property tax rates – direct and overlapping governments – Baltimore County,
Maryland
Taxable assessed value and estimated actual value of taxable property – Baltimore
County, Maryland
Principal property taxpayers – Baltimore County, Maryland
____________________________________________________________________________
57
Debt Capacity
The following schedules contain information to help the reader assess the affordability of
Baltimore County‟s current levels of outstanding debt and the County‟s ability to issue additional
debt in the future.
Schedule of Capital Leases
Legal Debt Margin – Baltimore County, Maryland
Ratios of Metropolitan District (MD) General Obligation (GO) Debt to Estimated
Actual Value of Property and MD GO Debt Per Capita – Baltimore County,
Maryland
Ratios of Consolidated Public Improvement (CPI) General Obligation (GO) Debt to
Estimated Actual Value of Property and CPI GO Debt Per Capita – Baltimore
County, Maryland
Demographic and Economic information
The following schedules offer demographic and economic indicators to help the reader
understand the environment within which Baltimore County‟s and CCBC‟s financial activities
take place.
Demographic and Economic Statistics – Baltimore County, Maryland
Principal Employers – Baltimore County, Maryland
Operating information
A review of all of the schedules in this statistical section (pgs 58-81) will help the reader
understand how the information in CCBC‟s and Baltimore County, Maryland‟s financial report
relate to the services each provides and the activities each performs. Including the schedules
below:
Full-Time Equivalent County Government Employees by Function – Baltimore
County, Maryland
Schedule of Operating Indicators – Level of Service
____________________________________________________________________________
58
Full-Time Equivalent Students
Included is the last ten years of FTE (full time equivalent) students for CCBC. This shows the
level of growth or decline for the ten-year time frame. The number of FTE students is directly
related to revenue capacity with regard to tuition and fees. This schedule includes all FTE
regardless of whether or not they were counted for state funding.
Credit Non Credit
Fiscal Year FTE FTE Total
2003 11,622 5,346 16,968
2004 11,819 5,139 16,958
2005 12,027 5,164 17,191
2006 12,010 4,757 16,767
2007 11,763 4,494 16,257
2008 11,912 4,468 16,380
2009 12,915 4,923 17,838
2010 14,970 5,167 20,137
2011 16,020 4,946 20,966
2012 15,975 4,861 20,836
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
FT
E
Fiscal Year
Credit Non Credit
____________________________________________________________________________
59
Unrestricted Funds - Comparison of Revenues to Expenditures,
Encumbrances and Transfers by Function (Budgetary Basis)Last Ten Fiscal Years
2012 2011 2010 2009
Revenue by Source:
Student Tuition & Fees 81,542,296$ 75,595,996$ 65,337,456$ 54,838,459$
State of Maryland 34,398,366 33,670,348 34,524,096 35,977,760
Baltimore County 44,257,668 43,631,309 42,635,645 42,077,644
Other 2,825,820 3,129,133 4,796,912 4,293,269
Total 163,024,150$ 156,026,786$ 147,294,109$ 137,187,132$
Expenditures and Encumbrances:
Instruction 79,661,771$ 77,246,431$ 72,087,865$ 65,277,829$
Public Service 402,966 385,361 391,544 383,222
Academic Support 11,475,143 11,712,432 11,529,657 11,522,326
Student Services 15,344,815 14,678,548 13,862,617 12,586,841
Institutional Support 33,100,898 30,813,445 28,709,164 29,054,708
Operations & Maint of Plant 15,701,311 14,229,197 14,762,388 13,980,555
Mandatory Transfers 7,109,040 6,287,422 5,155,814 4,361,333
Total 162,795,944$ 155,352,837$ 146,499,050$ 137,166,814$
Fiscal Year
____________________________________________________________________________
60
2008 2007 2006 2005 2004 2003
50,607,177$ 49,645,117$ 49,203,332$ 47,966,460$ 44,922,795$ 40,933,602$
36,341,154 31,761,156 30,160,307 30,114,340 30,114,340 32,308,840
41,863,707 41,550,207 39,633,953 36,364,390 35,372,506 35,229,673
5,599,777 5,997,891 4,308,466 2,702,193 2,270,861 2,452,576
134,411,815$ 128,954,371$ 123,306,058$ 117,147,383$ 112,680,502$ 110,924,691$
63,155,097$ 59,949,068$ 59,878,425$ 53,961,269$ 52,810,763$ 54,254,979$
355,925 347,049 346,163 330,068 423,716 401,294
11,359,760 10,440,252 10,598,653 10,795,242 10,956,054 10,196,848
11,643,835 10,788,331 10,014,420 9,569,258 9,220,936 8,879,748
28,278,317 26,732,612 24,254,607 24,173,897 24,772,523 23,350,561
14,137,469 12,888,943 12,897,839 11,571,380 11,480,196 10,993,526
4,084,437 3,985,549 3,670,306 3,520,789 3,016,314 2,847,735
133,014,840$ 125,131,803$ 121,660,413$ 113,921,903$ 112,680,502$ 110,924,691$
Fiscal Year
____________________________________________________________________________
61
Net Assets
Last Ten Fiscal Years
2012 2011 2010
Invested in capital assets, net of related debt 148,483,939$ 131,482,973$ 120,709,292$
Unrestricted (1,836,601) 5,488,840 8,903,958
Total net assets 146,647,338$ 136,971,813$ 129,613,250$
Changes in Net Assets
Last Ten Fiscal Years
2012 2011 2010
Operating Revenues
Student tuition and fees (net of scholarship allowances) 60,941,808$ 58,643,267$ 51,992,696$
Auxiliary enterprises (net of scholarship allowances) 8,840,161 9,284,212 6,890,740
Other 2,308,525 1,945,976 2,038,909
Total operating revenues 72,090,494 69,873,455 60,922,345
Operating Expenses
Instruction 88,701,180 85,555,338 79,005,817
Public service 398,151 389,025 392,541
Academic support 11,325,684 11,703,227 10,812,664
Student services 17,646,615 17,433,094 16,756,328
Institutional support 33,569,783 30,999,061 28,369,288
Operation and maintenance of plant 15,242,584 14,267,592 14,738,398
Depreciation 8,221,825 7,063,667 5,978,365
Student aid 19,699,324 19,140,617 14,140,283
Auxiliary enterprises 10,792,195 10,868,244 10,337,435
Certain fringe benefits paid directly by State of Maryland 7,270,896 7,068,955 6,432,309
Other 11,341,882 5,662,487 997,133
Total operating expenses 224,210,119 210,151,307 187,960,561
Operating loss (152,119,625) (140,277,852) (127,038,216)
Nonoperating Revenues (Expenses)
State appropriations 34,398,366 33,670,348 34,524,096
Certain fringe benefits paid directly by State of Maryland 7,270,896 7,068,955 6,432,309
County appropriations, net of debt service 38,462,795 38,262,759 36,855,145
Grants - federal, state, county and local 54,840,160 50,577,598 43,003,283
Gifts 450,242 436,242 512,963
Investment income 13,630 22,601 23,986
Loss on disposal of capital assets - (17,372) -
Total nonoperating revenues (expenses) 135,436,089 130,021,131 121,351,782
Loss before other revenues, extraordinary items (16,683,536) (10,256,721) (5,686,434)
Other revenues
County capital appropriations 25,717,631 17,007,158 23,642,208
State capital appropriations 641,430 608,126 651,880
Other capital financing sources - - -
Total other revenues 26,359,061 17,615,284 24,294,088
Extraordinary Item
Sale of FCC License - - -
Total change in net assets 9,675,525$ 7,358,563$ 18,607,654$
____________________________________________________________________________
62
2009 2008 2007 2006 2005 2004 2003
101,954,697$ 92,403,578$ 83,892,390$ 75,987,540$ 72,365,119$ 72,959,423$ 72,386,488$
9,050,899 9,138,362 4,220,461 6,581,908 6,007,364 3,725,762 4,910,861
111,005,596$ 101,541,940$ 88,112,851$ 82,569,448$ 78,372,483$ 76,685,185$ 77,297,349$
2009 2008 2007 2006 2005 2004 2003
46,510,810$ 43,347,471$ 43,987,131$ 41,541,931$ 40,110,195$ 37,176,525$ 34,341,798$
6,819,780 6,617,473 6,703,458 6,793,117 6,449,373 6,374,664 6,217,187
2,692,980 469,909 241,894 240,425 245,817 408,696 411,125
56,023,570 50,434,853 50,932,483 48,575,473 46,805,385 43,959,885 40,970,110
69,846,820 68,806,194 63,775,426 62,261,013 57,857,085 56,733,430 56,922,393
394,705 357,597 347,791 346,378 321,009 428,370 397,048
11,557,331 11,340,246 10,536,205 10,570,463 10,552,358 10,138,601 10,024,698
15,610,080 13,830,576 13,606,933 12,812,001 11,944,599 11,512,586 11,128,158
29,765,628 29,128,875 27,242,867 24,090,824 24,964,292 24,705,492 22,099,885
14,393,964 14,072,525 13,522,690 12,423,301 12,386,960 11,490,407 10,956,755
5,154,161 4,484,810 4,082,623 4,182,637 3,911,006 3,816,901 3,450,605
8,043,485 5,478,246 5,795,855 4,323,217 5,135,707 4,579,625 4,589,789
9,063,015 8,483,553 8,028,211 7,953,946 7,805,419 7,412,031 6,990,714
5,627,542 5,475,265 4,638,579 4,299,205 4,463,666 4,410,238 4,200,450
2,575,344 4,179,781 2,009,927 1,418,308 1,641,796 1,309,518 2,085,330
172,032,075 165,637,668 153,587,107 144,681,293 140,983,897 136,537,199 132,845,825
(116,008,505) (115,202,815) (102,654,624) (96,105,820) (94,178,512) (92,577,314) (91,875,715)
35,977,760 36,341,154 31,761,156 30,160,307 30,114,340 30,114,340 32,308,840
5,627,542 5,475,265 4,638,579 4,299,205 4,463,666 4,410,238 4,200,450
41,912,812 38,332,055 38,332,055 36,714,493 33,658,744 32,898,214 32,911,629
27,927,321 23,584,081 20,224,078 20,391,255 21,172,740 19,948,587 18,401,082
783,717 419,455 242,135 436,785 228,884 102,056 465,204
211,337 2,579,552 2,606,302 2,088,449 1,667,900 1,256,285 1,348,427
(129,465) (3,530) (649,441) (769,724) (622,625) (1,193,934) (1,629,919)
112,311,024 106,728,032 97,154,864 93,320,770 90,683,649 87,535,786 88,005,713
(3,697,481) (8,474,783) (5,499,760) (2,785,050) (3,494,863) (5,041,528) (3,870,002)
10,256,957 10,591,526 8,858,125 6,471,140 4,108,152 4,164,709 9,690,708
2,904,180 2,904,180 2,185,038 - - - -
- 408,166 - 510,875 1,074,009 264,655 466,839
13,161,137 13,903,872 11,043,163 6,982,015 5,182,161 4,429,364 10,157,547
- 8,000,000 - - - - -
9,463,656$ 13,429,089$ 5,543,403$ 4,196,965$ 1,687,298$ (612,164)$ 6,287,545$
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63
Credit Tuition and Fees per Credit Hour
Last Ten Academic Years
Academic Year
Beginning in Fall
Tuition Fees Total
2003 77 10 87
2004 87 11 98
2005 87 14 101
2006 87 13 100
2007 90 13 103
2008 90 13 103
2009 90 13 103
2010 90 13 103
2011 100 13 113
2012 103 22 125
Tuition Fees Total
2003 150 10 160
2004 150 11 161
2005 150 14 164
2006 164 13 177
2007 174 13 187
2008 174 13 187
2009 174 13 187
2010 183 13 196
2011 191 13 204
2012 196 29 225
Tuition Fees Total
2003 205 10 215
2004 205 11 216
2005 205 14 219
2006 226 13 239
2007 236 13 249
2008 261 13 274
2009 261 13 274
2010 274 13 287
2011 286 13 299
2012 294 36 330
Note: Fees are defined as: Consolidated, registration, student, technology and activity fees.
Lab, graduation, physical education fees, etc. are not included.
Full-Time attendance is defined as at least 12 credit hours per semester.
Source: Maryland Association of Community Colleges (MACC) databook
In-County
Out-of-County
Out-of-State
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64
The following schedule shows the volume, usage and nature of CCBC‟s net capital assets totals.
This schedule represents four years and will accumulate each year until ten years of data
becomes available.
Schedule of Capital Asset Information
Last Four Fiscal Years (years of available data) a
2012 2011 2010 2009
Buildings b
72 74 72 82
Net assignable square feet by use:
Classroom 129,435 119,300 122,392 127,712
Laboratory 204,339 202,486 183,325 184,558
Offices 226,792 224,807 209,659 209,659
Libraries/Study 54,576 57,214 56,961 56,961
Auxiliary c
41,720 41,720 41,720 41,720
Special Use d
158,708 160,018 174,295 174,295
General Use 66,220 62,705 85,539 85,539
Support 35,838 34,449 47,395 47,103
Unclassified e
62,038 21,085 19,905 19,905
Libraries 3 3 3 3
Number of volumes 196,350 191,190 175,680 156,210
Dining facilities 3 3 3 3
Childcare facilities 3 3 3 3
Bookstores 3 3 3 3
Athletic facilities:
Practice and intramural fields 14 14 14 14
Pools 3 3 3 3
Gymnasiums 3 3 3 3
Fitness centers 3 3 3 3
Tennis courts f
19 25 25 25
Racquetball courts 4 4 4 4
Transportation:
Vans 39 37 38 30
Trucks 38 47 49 44
Other vehicles 26 36 37 31
Parking capacity 5,594 5,594 5,754 5,754
aHistorical trend data is not available prior to FY2009. The years will accumulate each year until
ten years of data is presented. b
The building removed was the C-Temp building at CCBC Essexc
Auxiliary space was restated for previous years.d
Special use includes pools, gymnasiums, and fitness centerse
Unclassified includes the portion of the building used for The Baltimore County Police Academy. It also
includes Catonsville F bldg, Dundalk L bldg and Essex F bldg space that is not in use due to construction.f Six tennis courts are damaged and were placed out of service pending repairs
____________________________________________________________________________
65
Schedule of Capital Leases Last Two Fiscal Years
Refer to Note 7 on page 40 for more details regarding the CCBC capital leases.
Schedule of Operating Indicators – Level of Service For the six years ended June 30, 2012 (information will accumulate until ten years of data is available)
FY2012 FY2011
Total commitment under capital leases 1,446,053$ 1,897,097$
Less amounts representing interest (65,665) (125,971)
Present value of future minimum lease payments 1,380,388$ 1,771,126$
2012 2011 2010 2009 2008 2007
Certificates 604 476 379 370 421 375
Associate Degrees (transfer and career) 2,132 1,854 1,703 1,578 1,654 1,410
Total 2,736 2,330 2,082 1,948 2,075 1,785
Below represents the breakdown of the above totals by school. The amounts below are combined
certificates and degrees awarded.
School 2012 2011 2010 2009 2008 2007
School of Applied and Information Tech 364 356 260 323 400 268
School of Business and Social Science 1,515 1,240 1,024 909 897 696
School of Health Professions 568 514 469 398 374 395
School of Justice 152 117 185 176 177 193
School of Liberal Arts 54 40 24 19 21 8
School of Math and Science 76 50 74 42 18 24
Other 7 13 46 81 188 201
Total 2,736 2,330 2,082 1,948 2,075 1,785
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66
Principal Employers
Baltimore County, Maryland
Current Year and Nine Years Ago
2012
Employees
Percentage of Total
County Employment
Social Security Administration/CMS 16,000 4.47
Baltimore County Public Schools 14,327 4.01
Baltimore County Government 8,262 2.31
Greater Baltimore Medical Center 3,700 1.03
Towson University 3,474 0.97
Franklin Square Hospital 3,470 0.97
St. Joseph Medical Center 2,109 0.59
UMBC 1,952 0.55
Carefirst, Inc. 1,934 0.54
Sheppard Pratt Health System 1,864 0.52
Total 57,092 15.96
Employer 2003
Baltimore County Public Schools Employees
Percentage of Total
County Employment
Social Security Administration 13,671 3.79
Baltimore County Government 8,950 2.48
Bethlehem Steel Corp./Sparrows Point Division 8,037 2.23
Greater Baltimore Medical Center 3,000 0.83
Center for Medicare & Medicaid Services - CMS 3,000 0.83
T. Rowe Price Associates, Inc. 2,798 0.78
CareFirst BlueCross & BlueShield 2,796 0.77
St. Joseph Medical Center 2,750 0.75
McCormick & Company, Inc. 2,300 0.64
2,294 0.64
49,596 13.74
Source: Baltimore County Department of Economic Development
Employer
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67
Statement of Net Assets by Component
Baltimore County, Maryland
Last Ten Fiscal Years (accrual basis of accounting, dollars expressed in thousands)
2012 2011 2010 2009 2008
Governmental activities
Invested in capital assets, net of related debt a
1,386,096$ 1,541,265$ 1,593,450$ 1,595,901$ 1,523,265$
Restricted 27,251 26,653 57,713 73,357 122,079
Unrestricted (deficit) (345,769) (343,048) (306,914) (67,683) 24,814
Total governmental activities net assets 1,067,578$ 1,224,870$ 1,344,249$ 1,601,575$ 1,670,158$
Business-type activities
Invested in capital assets, net of related debt 566,002$ 583,279$ 568,687$ 568,225$ 489,563$
Unrestricted (deficit) (175,208) (158,571) (159,734) (137,808) (62,957)
Total business-type activities net assets 390,794$ 424,708$ 408,953$ 430,417$ 426,606$
Primary government
Invested in capital assets, net of related debt 1,952,098$ 2,124,544$ 2,162,137$ 2,164,126$ 2,012,828$
Restricted 27,251 26,653 57,713 73,357 122,079
Unrestricted (deficit) (520,977) (501,619) (466,648) (205,491) (38,143)
Total primary government net assets 1,458,372$ 1,649,578$ 1,753,202$ 2,031,992$ 2,096,764$
a Fiscal year 2004 reflects an accounting change of $949 million for retroactive reporting of costs
incurred prior to July 1, 2001 associated with the County's governmental
activities infrastructure assets.
Source: Baltimore County Office of Budget and Finance
Fiscal Year
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68
2007 2006 2005 2004 2003
1,492,767$ 1,465,260$ 1,385,791$ 1,303,115$ 262,897$
15,324 17,807 12,135 8,853 9,488
103,053 46,525 (43,935) (72,658) (51,982)
1,611,144$ 1,529,592$ 1,353,991$ 1,239,310$ 220,403$
543,107$ 524,996$ 482,784$ 440,818$ 419,453$
(107,952) (68,780) (12,176) 37,529 64,392
435,155$ 456,216$ 470,608$ 478,347$ 483,845$
2,035,874$ 1,990,256$ 1,868,575$ 1,743,933$ 682,350$
15,324 17,807 12,135 8,853 9,488
(4,899) (22,255) (56,111) (35,129) 12,410
2,046,299$ 1,985,808$ 1,824,599$ 1,717,657$ 704,248$
Fiscal Year
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69
Fund Balances of Governmental Funds
Baltimore County, Maryland
Last Ten Fiscal Years (modified accrual basis of accounting, dollars expressed in thousands)
2012 2011 2010* 2009* 2008*
General Fund
Nonspendable 7,109$ 6,942$ 5,906$ 5,911$ 5,431$
Restricted 99,492 12,689 17,763 31,132 2,657
Committed - - - - -
Assigned 65,659 65,223 99,589 141,214 143,571
Unassigned 230,145 165,200 109,231 82,703 118,530
Total General Fund 402,405 250,054 232,489 260,960 270,189
All other governmental funds
Nonspendable -$ -$ -$ -$ -$
Restricted 22,161 21,365 17,835 14,108 10,925
Committed - - - - -
Assigned 4,699 7,184 5,926 22,816 8,860
Unassigned (112,730) (157,090) (209,354) (98,521) (48,410)
Total all other governmental funds (85,870) (128,541) (185,593) (61,597) (28,625)
Total governmental funds 316,535$ 121,513$ 46,896$ 199,363$ 241,564$
a In FY 2007 the County transferred $114.4 million and $80 million from the General Fund and the
Self-Insurance Program Internal Service Fund, respectively, to a Post Employment Benefit (OPEB)
Fund to accumulate funds to meet future annual required contributions (ARC) to an OPEB Trust Fund.
b In FY2008, the fund balance of $156.275 million in the OPEB Fund as of 6/30/07
was contributed to the OPEB Trust Fund.
* This information was prepared by the County Office of Budget and Finance based upon evaluation of fund balances
and was presented for comparative purposes only.
Source: Baltimore County Office of Budget and Finance
Fiscal Year
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70
2007* 2006* 2005* 2004* 2003*
4,061$ 4,468$ 4,111$ 3,673$ 3,395$
6,995 20,450 32,556 46,036 9,075
- - - - -
142,587 161,774 124,271 93,653 86,439
133,899 122,523 117,277 83,444 42,423
287,542 309,215 278,215 226,806 141,332
-$ -$ -$ -$ -$
10,333 13,083 12,135 8,853 9,488
- - - - -
166,138 9,602 2,587 41,501 3,330
(121,680) (91,614) (53,149) - (11,689)
54,791 (68,929) (38,427) 50,354 1,129
342,333$ 240,286$ 239,788$ 277,160$ 142,461$
Fiscal Year
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71
Statement of Changes in Net Assets
Baltimore County, Maryland
Last Ten Fiscal Years (accrual basis of accounting, dollars expressed in thousands)
2012 2011 2010 2009 2008
Expenses
Governmental activities:
General government 510,823$ 449,008$ 390,428$ 457,696$ 423,224$
Public safety 340,263 346,253 339,301 336,325 321,024
Public works 187,816 150,606 198,075 163,493 166,234
Health and human services 152,493 144,972 144,614 141,023 134,617
Culture and leisure services 70,803 69,368 68,818 66,856 62,080
Economic and community development 13,379 16,232 13,743 10,578 8,762
Education 841,494 803,828 831,550 774,053 781,588
Interest on long-term debt 25,568 24,868 22,057 20,305 22,900
Total governmental activities expenses 2,142,639 2,005,135 2,008,586 1,970,329 1,920,429
Business-type activities:
Water and sewer services 277,788 225,545 240,626 223,534 229,754
Recreational facilities - - - - -
Total business-type activities expenses 277,788 225,545 240,626 223,534 229,754
Total primary government expenses 2,420,427$ 2,230,680$ 2,249,212$ 2,193,863$ 2,150,183$
Program Revenues
Governmental activities:
Charges for services:
General government 213,131$ 190,247$ 145,403$ 187,868$ 188,526$
Public safety 5,958 5,077 2,294 1,935 2,022
Public works 2,942 3,195 2,616 1,669 1,837
Health and human services 3,622 3,652 3,801 3,916 3,916
Culture and leisure services 3,653 3,382 3,247 2,856 2,653
Economic and community development 487 851 713 571 939
Operating grants and contributions:
General government 2,457 5,778 2,894 3,093 2,587
Public safety 12,879 14,093 18,115 20,638 19,627
Public works 2,260 2,865 2,128 36,342 41,584
Health and human services 114,528 100,326 100,877 109,357 101,797
Culture and leisure services 1,145 1,124 1,261 1,519 1,502
Economic and community development 16,386 24,115 17,938 8,249 6,569
Interest on long-term debt 6,853 4,064 1,137 - -
Capital grants and contributions 41,519 37,614 31,263 54,852 53,287
Total governmental activities program revenues 427,820 396,383 333,687 432,865 426,846
Business-type activities:
Charges for services:
Water and sewer services 220,188 224,510 206,031 200,741 189,246
Recreational facilities - - - - -
Operating grants and contributions 3,777 2,462 829 - -
Capital grants and contributions 11,282 14,126 12,071 25,585 30,850
Total business-type activities program revenues 235,247 241,098 218,931 226,326 220,096
Total primary government program revenues 663,067$ 637,481$ 552,618$ 659,191$ 646,942$
Source: Baltimore County Office of Budget and Finance
Fiscal Year
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72
2007 2006 2005 2004 2003
364,796$ 370,820$ 344,959$ 322,644$ 302,731$
284,729 268,561 246,937 231,618 232,827
187,130 154,883 154,490 116,548 95,535
124,274 112,427 117,270 109,405 104,755
56,889 52,746 47,476 42,449 42,730
7,713 9,473 10,562 14,340 13,660
786,468 691,906 666,277 642,794 672,214
21,940 20,568 23,895 22,004 22,937
1,833,939 1,681,384 1,611,866 1,501,802 1,487,389
222,606 215,217 173,803 175,148 158,398
- 4 929 868 817
222,606 215,221 174,732 176,016 159,215
2,056,545$ 1,896,605$ 1,786,598$ 1,677,818$ 1,646,604$
201,113$ 218,711$ 200,590$ 180,553$ 167,239$
3,294 2,783 2,887 3,057 3,426
2,273 2,420 2,153 2,701 1,873
4,155 4,527 4,522 3,237 4,146
2,578 2,164 523 489 425
601 505 503 454 491
9,172 2,979 2,379 1,744 1,533
19,499 24,930 23,881 18,685 20,812
43,257 41,790 34,168 27,610 34,542
92,341 86,606 91,476 85,294 82,427
1,745 1,276 1,138 1,151 1,330
7,075 7,268 9,154 12,937 12,244
- - - - -
42,348 37,550 42,552 38,398 38,094
429,451 433,509 415,926 376,310 368,582
168,715 165,606 144,419 148,656 132,097
- - 647 628 607
- - - - -
32,693 34,086 21,014 20,673 19,299
201,408 199,692 166,080 169,957 152,003
630,859$ 633,201$ 582,006$ 546,267$ 520,585$
Fiscal Year
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73
Statement of Changes in Net Assets (continued)
Baltimore County, Maryland
Last Ten Fiscal Years (accrual basis of accounting, dollars expressed in thousands)
Fiscal Year
Net (Expense)/Revenue 2012 2011 2010 2009 2008
Governmental activities (1,714,819)$ (1,608,752)$ (1,674,899)$ (1,537,464)$ (1,493,583)$
Business-type activities (42,541) 15,553 (21,695) 2,792 (9,658)
Total primary government net expense (1,757,360)$ (1,593,199)$ (1,696,594)$ (1,534,672)$ (1,503,241)$
General Revenues and Other Changes in Net Assets
Governmental activities:
Taxes:
Property taxes 844,069$ 837,092$ 813,970$ 767,103$ 712,863$
Income taxes 565,571 534,553 473,792 569,736 661,125
Public service taxes 121,099 110,405 116,592 123,863 155,699
Grants and contributions not restricted to
specific programs:
State of Maryland 9,423 8,823 9,655 6,954 8,847
Unrestricted investment earnings 1,077 966 1,098 5,688 13,953
Gain on sale of capital assets - - - - -
Transfers - - - - 110
Total governmental activities 1,541,239 1,491,839 1,415,107 1,473,344 1,552,597
Business-type activities
Unrestricted investment earnings 360 256 177 1,094 1,219
Transfers - - - - (110)
Total business-type activities 360 256 177 1,094 1,109
Total primary government 1,541,599$ 1,492,095$ 1,415,284$ 1,474,438$ 1,553,706$
Change in Net Assets
Governmental activities (173,580)$ (116,913)$ (259,792)$ (64,120)$ 59,014$
Business-type activities (42,181) 15,809 (21,518) 3,886 (8,549)
Total primary government (215,761)$ (101,104)$ (281,310)$ (60,234)$ 50,465$
Source: Baltimore County Office of Budget and Finance
____________________________________________________________________________
74
2007 2006 2005 2004 2003
(1,404,488)$ (1,247,875)$ (1,195,940)$ (1,125,492)$ (1,118,807)$
(21,198) (15,529) (8,652) (6,059) (7,212)
(1,425,686)$ (1,263,404)$ (1,204,592)$ (1,131,551)$ (1,126,019)$
662,307$ 626,149$ 588,773$ 564,407$ 545,202$
589,994 572,136 531,090 473,017 420,710
180,736 199,591 173,530 147,997 128,450
9,165 8,553 8,622 6,932 8,394
43,777 17,547 8,262 3,003 5,070
- - - - -
61 (500) 344 - 18
1,486,040 1,423,476 1,310,621 1,195,356 1,107,844
198 637 1,257 561 1,027
(61) 500 (344) - (18)
137 1,137 913 561 1,009
1,486,177$ 1,424,613$ 1,311,534$ 1,195,917$ 1,108,853$
81,552$ 175,601$ 114,681$ 69,864$ (10,963)$
(21,061) (14,392) (7,739) (5,498) (6,203)
60,491$ 161,209$ 106,942$ 64,366$ (17,166)$
____________________________________________________________________________
75
Legal Debt Margin Information
Baltimore County, Maryland
Last Ten Fiscal Years (dollars expressed in thousands)
2012 2011 2010 2009
Consolidated Public Improvement (CPI)
General Obligation Debt
Assessed value
Real property 81,448,483$ 86,234,670$ 86,262,930$ 78,882,654$
Personal property 3,024,342 2,944,780 3,110,576 3,117,528
Total assessed value 84,472,825 89,179,450 89,373,506 82,000,182
Debt limit (4% of total assessed value) (1) 3,378,913 3,567,178 3,574,940 3,280,007
Debt applicable to limit:
Consolidated public improvement bonds 1,036,500 918,085 702,565 574,235
Pension liability funding 24,735 31,805 38,885 46,140
CPI commercial paper notes 240,000 174,900 174,900 175,000
Total debt applicable to debt limit 1,301,235 1,124,790 916,350 795,375
Legal debt margin 2,077,678$ 2,442,388$ 2,658,590$ 2,484,632$
Metropolitan District General Obligation Debt
Assessed value (2)
Real property 72,056,007$ 76,836,626$ 75,606,965$ 69,372,971$
Personal property 2,675,581 2,623,851 2,726,330 2,741,695
Total assessed value 74,731,588 79,460,477 78,333,295 72,114,666
Debt limit (3.2% of total assessed value) (3) 2,391,411 2,542,735 2,506,665 2,307,669
Debt applicable to limit:
Metropolitan District (MD) bonds 822,490 750,917 658,837 585,648
MD commercial paper notes 160,000 106,500 106,500 106,600
Total debt applicable to debt limit 982,490 857,417 765,337 692,248
Legal debt margin 1,408,921$ 1,685,318$ 1,741,328$ 1,615,421$
Notes:
(1) The County General Bond debt limit on assessed value of real property was changed from 10% to 4% beginning in FY 2007.
(2) Assessed value of property in the Metropolitan District.
(3) The Metropolitan District debt limit on assessed value of real property was changed from 8% to 3.2% beginning in FY 2007.
Source: Baltimore County Office of Budget and Finance
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76
2008 2007 2006 2005 2004 2003
69,345,671$ 60,039,162$ 53,194,118$ 48,292,908$ 45,488,827$ 43,465,587$
3,067,833 3,067,598 2,911,470 2,861,376 2,846,982 2,857,205
72,413,504 63,106,760 56,105,588 51,154,284 48,335,809 46,322,792
2,896,540 2,524,270 5,610,559 5,115,428 4,833,581 4,632,279
651,290 512,570 433,140 465,035 495,085 375,610
59,110 67,755 76,195 84,210 91,920 99,280
140,000 140,000 161,000 161,000 161,000 152,000
850,400 720,325 670,335 710,245 748,005 626,890
2,046,140$ 1,803,945$ 4,940,224$ 4,405,183$ 4,085,576$ 4,005,389$
61,053,851$ 52,712,637$ 46,572,148$ 42,305,762$ 40,177,878$ 38,447,111$
2,701,006 2,693,261 2,549,031 2,506,635 2,514,589 2,527,316
63,754,857 55,405,898 49,121,179 44,812,397 42,692,467 40,974,427
2,040,155 1,772,989 3,929,694 3,584,992 3,415,397 3,277,954
662,041 426,735 344,304 366,051 382,379 346,892
60,000 60,000 39,000 39,000 39,000 48,000
722,041 486,735 383,304 405,051 421,379 394,892
1,318,114$ 1,286,254$ 3,546,390$ 3,179,941$ 2,994,018$ 2,883,062$
____________________________________________________________________________
77
General Fund Tax Revenues by Source
Baltimore County, Maryland
Last Ten Fiscal Years (budgetary basis, dollars expressed in thousands)
Fiscal Year Total Taxes
General
Property
Taxes
Income
Taxes
Other Local
Taxes (1)
2003 1,097,478 547,015 430,224 120,239
2004 1,169,179 563,857 465,970 139,352
2005 1,263,927 588,640 510,788 164,499
2006 1,364,725 626,750 547,875 190,100
2007 1,441,828 663,289 607,932 170,607
2008 1,499,041 713,116 640,985 144,940
2009 1,518,367 765,573 640,176 112,618
2010 1,414,149 814,100 495,656 104,393
2011 1,448,849 837,056 514,715 97,078
2012 1,545,610 845,238 593,204 107,168
(1)
Source: Baltimore County Office of Budget and Finance
Fiscal year 2012 other local taxes include: title transfer tax - $43.517 million,
recordation tax - $20.398 million, electricity - $15.200 million, telephone tax - $9.166
million, admissions and amusement tax - $5.503 million, motel and hotel
occupancy tax - $8.2320 million, 911 fee - $4.545 million and auto trailer camp tax -
$0.607 million.
Property Tax Levies and Collections
Baltimore County, Maryland
Last Ten Fiscal Years (dollars expressed in thousands)
Collected within the Fiscal Year
of the Levy Total Collections to Date
Fiscal
Year
Ended
Original
Tax Levy
Prior Year
Adjusted
Levy
Total
Adjusted
Levy Amount
Percentage
of Original
Levy
Collections in
Subsequent
Years Amount
Percentage of
Original Levy
2003 549,094$ (3,876)$ 545,218$ 545,797$ 99.4% 3,149$ 548,946$ 99.9%
2004 568,642 (1,914) 566,728 565,489 99.4 275 565,764 99.5
2005 594,413 (3,317) 591,096 590,984 99.4 (798) 590,186 99.3
2006 629,732 (3,927) 625,805 627,157 99.6 531 627,688 99.7
2007 663,836 (2,486) 661,350 661,344 99.6 129 661,473 99.6
2008 711,785 (1,955) 709,830 709,242 99.6 869 710,111 99.8
2009 763,191 (1,461) 761,730 758,977 99.4 886 759,863 99.6
2010 808,956 (881) 808,075 805,384 99.6 1,985 807,369 99.8
2011 838,282 (1,889) 836,383 834,831 99.6 1,334 836,165 99.7
2012 849,559 629 850,188 841,983 99.2 3,264 845,257 99.5
Source: Baltimore County Office of Budget and Finance
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78
Property Tax Rates - Direct and Overlapping Governments
Baltimore County, Maryland
Last Ten Fiscal Years
Fiscal
Year Real Personal Total (a)
2003 1.115$ 2.7875$ 1.2180$
2004 1.115 2.7875 1.2130
2005 1.115 2.7875 1.2090
2006 1.115 2.7875 1.2020
2007 1.100 2.7500 1.1810
2008 1.100 2.7500 1.1700
2009 1.100 2.7500 1.1630
2010 1.100 2.7500 1.1620
2011 1.100 2.7500 1.1550
2012 1.100 2.7500 1.1590
Notes:
(1) Rates are per $100 of assessed value.
(2)
(3) There are no tax limits.
(a)Weighted average of the Individual Real and Personal direct rates
Source: Baltimore County Office of Budget and Finance
Except for the State of Maryland, there is no separate taxing authority that overlaps the County
geographically.
County Direct Rates
Taxable Assessed Value and Estimated Actual Value of Taxable Property
Baltimore County, Maryland
Last Ten Fiscal Years (dollars expressed in thousands)
Real Property (1) Personal Property
Fiscal
Year
Ended
Residential
Property
Commercial
Property
Total Real
Property
Railroad/
Utility
Property
Other
Business
Property
Total
Personal
Property
Total Taxable
Assessed
Value (2)
Total
Direct Rate
Estimated
Actual Value
2003 33,364,185$ 10,101,402$ 43,465,587$ 1,232,584$ 1,624,621$ 2,857,205$ 46,322,792$ 1.218$ 46,322,792$
2004 35,308,428 10,180,399 45,488,827 1,256,859 1,590,123 2,846,982 48,335,809 1.213 48,335,809
2005 37,842,322 10,450,586 48,292,908 1,282,225 1,579,151 2,861,376 51,154,284 1.209 51,154,284
2006 42,299,963 10,894,155 53,194,118 1,291,619 1,619,851 2,911,470 56,105,588 1.202 56,105,588
2007 48,631,721 11,407,441 60,039,162 1,351,599 1,715,999 3,067,598 63,106,760 1.181 63,106,760
2008 56,863,450 12,482,221 69,345,671 1,255,594 1,812,240 3,067,833 72,413,504 1.170 72,413,504
2009 62,317,297 16,565,357 78,882,654 1,257,017 1,860,511 3,117,528 82,000,182 1.163 82,000,182
2010 67,285,085 18,977,845 86,262,930 1,225,048 1,885,528 3,110,576 89,373,506 1.162 89,373,506
2011 66,400,696 19,833,974 86,234,670 1,241,027 1,703,753 2,944,780 89,179,450 1.155 89,179,450
2012 61,900,847 19,547,635 81,448,482 1,229,659 1,794,683 3,024,342 84,472,824 1.159 84,472,824
Note:
(1) Tax exempt properties are not included
(2) Expressed in dollars per $100 of assessed value
Source: Baltimore County Office of Budget and Finance
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79
Principal Property Taxpayers
Baltimore County, Maryland
Current Year and Nine Years Ago (dollars expressed in thousands)
2012 2003
Taxpayer
Taxable
Assessed
Value
Percentage of
Total Taxable
Assessed
Value Taxpayer
Taxable
Assessed
Value
Percentage of
Total Taxable
Assessed
Value
BGE 997,578$ 1.18% BGE 836,615$ 1.73%
Verizon 315,450 0.37% Verizon 381,479 0.79%
Merritt Management Corp. 444,481 0.53% Merritt Mgt Corp 221,782 0.46%
Towson Town Center Associates 244,751 0.29% Comcast 62,392 0.13%
RG Steel (previously Bethlehem Steel) 240,719 0.28% Towson Town Center Associates 142,771 0.30%
Comcast 87,955 0.10% Town & Country 139,344 0.29%
TRP Surburban 174,438 0.21% Oak Campus Partners, LLC. 136,487 0.28%
Walmart 191,945 0.23% Maryland Health and Higher Education 120,812 0.25%
Oak Campus Partners, LLC. 167,247 0.20% Bethlehem Steel 125,359 0.26%
General Motors Co. 89,070 0.11% Nottingham Properties 96,865 0.20%
2,953,634$ 3.50% 2,263,906$ 4.69%
Source: State of Maryland Assessment Files and Baltimore County Office of Budget and Finance Tax Files
Demographic and Economic Statistics
Baltimore County, Maryland
Last Ten Fiscal Years
Fiscal
Year
Estimated
Population
(1)
Total Personal
Income
(expressed in
thousands)
Per Capita
Personal
Income (2)
Median
Age (3)
Education Level
in Years of
Formal
Schooling (3)
School
Enrollment
(4)
Unemployment
Rate (5)
2003 777,756 31,282,233$ 40,403$ 37.8 14.8 108,604 4.9 %
2004 784,371 33,385,795 42,841 37.9 14.8 108,792 4.7
2005 789,110 34,389,478 43,580 37.8 14.7 108,015 4.5
2006 793,733 37,035,713 46,660 37.8 14.8 107,386 4.1
2007 796,073 38,726,771 48,647 37.9 14.9 105,330 3.7
2008 798,651 40,008,568 50,095 38.0 14.9 104,714 4.5
2009 801,808 38,464,815 47,973 38.0 15.0 103,643 7.9
2010 805,964 39,717,586 49,280 38.4 15.0 103,832 7.8
2011 909,941 41,510,448 51,251 39.1 15.0 104,331 7.9
2012 813,556 43,363,550 53,301 39.1 15.4 105,315 7.7
Notes:
(1) U.S. Bureau of the Census, Population Estimates Branch. Total personal income growth rate estimated at 4.51% for FY2011
and 4.46% for FY2012.
(2)
(3) Baltimore County Office of Planning
(4) Baltimore County Board of Education
(5) Maryland Department of Labor and Licensing Regulation
Source: Baltimore County Office of Budget and Finance
Data extracts prepared by the U.S. Bureau of the Census and Maryland Office of Planning. Per Capita Personal Income growth
rate estimated at 4.00% for FY2011 and FY2012.
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80
Ratios of Metropolitan District (MD) General Obligation (GO) Debt to
Estimated Actual Value of Property and MD GO Debt Per Capita
Baltimore County, Maryland
Last Ten Fiscal Years (dollars expressed in thousands)
Fiscal
Year
Estimated
Population (1)
Estimated Actual
Value of Real &
Personal
Property
MD GO Debt
(2)
Percent of MD GO
Debt to Estimated
Actual Value of
Property
MD GO
Debt per
Capita (3)
2003 777,756 40,974,427$ 394,892$ 0.96 507.73$
2004 784,371 42,692,467 421,379 0.99 537.22
2005 789,110 44,812,397 405,051 0.90 513.30
2006 793,733 49,121,179 433,304 0.88 545.91
2007 796,073 55,405,898 535,035 0.97 672.09
2008 798,651 63,754,867 722,041 1.13 904.08
2009 801,808 72,114,666 692,248 0.96 863.36
2010 805,964 78,333,295 765,337 0.98 949.59
2011 809,941 79,460,477 857,417 1.08 1,058.62
2012 813,556 74,731,588 982,490 1.31 1,207.65
Notes:
(1) U.S. Bureau of the Census, Population Estimates Branch
(2) The County has no resources restricted to repaying the principal of outstanding debt.
(3) Expressed in dollars
Source: Baltimore County Office of Budget and Finance
Ratios of Consolidated Public Improvement (CPI) General Obligation (GO) Debt to
Estimated Actual Value of Property and CPI GO Debt Per Capita
Baltimore County. Maryland
Last Ten Fiscal Years (dollars expressed in thousands)
Fiscal
Year
Estimated
Population (1)
Estimated Actual
Value of Real &
Personal Property
CPI GO
Debt (2)
Percent of CPI GO
Debt to Estimated
Actual Value of
Property
CPI GO Debt
per Capita (3)
2003 777,756 46,322,792$ 670,390$ 1.45 % 861.95$
2004 784,371 48,335,809 791,005 1.64 1,008.46
2005 789,110 51,154,284 752,245 1.47 953.28
2006 793,733 56,105,588 710,335 1.27 894.93
2007 796,073 63,106,760 757,825 1.20 951.95
2008 798,651 72,413,504 850,400 1.17 1,064.80
2009 801,808 82,000,182 795,375 0.97 991.98
2010 805,964 89,373,506 916,350 1.03 1,136.96
2011 809,941 89,179,450 1,124,790 1.26 1,388.73
2012 813,556 84,472,825 1,301,235 1.54 1,599.44
Notes:
(1) U.S. Bureau of the Census, Population Estimates Branch
(2) The County has no resources restricted to repaying the principal of outstanding debt.
(3) Expressed in dollars
Source: Baltimore County Office of Budget and Finance
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81
Full-time Equivalent County Government Employees by Function
Baltimore County, Maryland
Last Ten Fiscal Years
Fiscal Year
2012 2011 2010 2009 2008 2007 2006 2005 2004 2003
GENERAL GOVERNMENT
County Executive 14 14 15 15 15 15 15 15 15 15
Administrative Office 13 23 23 23 24 24 24 24 24 24
Office of Budget and Finance 132 184 160 163 151 151 143 141 139 139
Office of Law 39 30 32 32 33 34 46 47 48 48
Planning & Community Conservation 49 49 50 49 51 50 50 50 52 52
Office of Human Resources 34 32 33 33 32 34 34 34 35 37
Permits & Development Mgt. 202 188 223 224 223 222 215 216 215 215
County Council 37 37 37 37 37 37 38 38 38 38
County Auditor 19 19 19 19 19 19 19 19 19 19
Board of Appeals 9 10 10 10 10 10 10 10 10 10
Information Technology 186 186 186 176 148 148 145 136 134 130
Internal Service Funds 59 59 59 59 59 59 62 65 67 67
HEALTH & HUMAN SERVICES
Department of Health 526 531 533 550 552 555 558 553 582 557
Social Services 237 214 213 205 206 199 202 206 189 201
Social Services - State 12 12 12 16 17 17 17 17 17 17
Department of Aging 322 331 332 332 330 338 338 338 336 329
Environmental Protection 89 119 119 119 116 116 116 108 108 108
Local Management Board 5 7 10 9 9 8 8 6 6 7
Housing Office 64 59 60 60 60 67 67 80 80 79
RECREATION & COMM. SERV.
Recreation & Parks 329 315 336 333 325 347 311 261 260 268
Recreation - Enterprise Fund - - - - - - - 52 52 49
Economic Development 16 21 21 19 19 20 20 20 20 20
Community Development Block Grants 27 30 31 25 26 27 27 27 24 23
Workforce Development 48 45 49 32 29 28 31 34 37 33
Organization Contributions - - 2 1 1 1 1 1 1 1
PUBLIC WORKS 1,128 1,181 1,181 1,179 1,173 1,160 1,150 1,131 1,115 1,101
SUBTOTAL 3,596 3,696 3,746 3,720 3,665 3,686 3,647 3,629 3,623 3,587
PUBLIC SAFETY
Department of Corrections 470 473 472 472 471 444 435 410 350 350
Communications Center 186 187 187 192 193 193 192 192 192 191
Police Department 2,534 2,575 2,590 2,564 2,566 2,550 2,527 2,487 2,486 2,471
Fire Department 1,082 1,090 1,091 1,098 1,083 1,083 1,083 1,080 1,080 1,062
SUBTOTAL 4,272 4,325 4,340 4,326 4,313 4,270 4,237 4,169 4,108 4,074
STATE MANDATED AGENCIES
Circuit Court 89 100 100 98 98 97 92 90 91 104
Orphan‟s Court 5 5 5 5 5 4 4 4 4 4
Board Of Elections 14 14 14 14 14 15 15 13 10 10
Board Of Elections - State 26 26 26 26 26 26 26 24 24 22
State‟s Attorney 122 124 124 123 120 118 114 112 108 104
County Sheriff 104 104 104 100 100 100 94 94 94 94
Liquor License Commission 24 25 25 25 26 26 26 26 26 26
Cooperative Extension 2 2 2 2 2 2 2 2 2 2
Cooperative Extension - State 8 8 8 8 8 10 10 10 9 10
SUBTOTAL 394 408 408 401 399 398 383 375 368 376
EDUCATION, COMMUNITY
COLLEGE & LIBRARY
Community College 2,060 1,974 1,795 1,777 1,711 1,745 1,754 1,728 1,805 1,743
Education 14,327 14,606 14,537 14,757 14,472 14,399 14,286 14,119 13,976 13,671
Library 492 495 489 483 477 475 474 471 469 469
SUBTOTAL 16,879 17,075 16,821 17,017 16,660 16,619 16,514 16,318 16,250 15,883
TOTAL 25,141 25,504 25,315 25,464 25,037 24,973 24,781 24,491 24,349 23,920
Source: Baltimore County Office of Budget and Finance Budget Documents
the community college of baltimore county
Board of TrusteesThe Honorable Barbara Kerr Howe, Chair
Charles E. Kountz, Jr., Esquire, Vice Chair
Sandra L. Kurtinitis, Ph.D.President
Sheldon K. CaplisMichael P. ErtelDorothy E. FoosH. Scott Gehring, Ed.D.Linda C. GoldbergJames Gresham, Ed.D.Warren C. Hayman, Ed.D.
Wayne McDowellGloria K. McJiltonCecile V. MyrickGloria E. NelsonStephen J. Nolan, Esq.Patricia R. Norman