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The nner Volume XXXVI, Number 2 A Publication of the Students of Cal Baptist September 24, 1991 Audit reveals budget surplus By Tom Pace Editor Jaime Coston is this year's ASCBC president. (Photo by Jason Carter) A recent audit of the college's financial accounts shows a budget surplus for the first time in years. The audit, which is routinely performed each year, showed that the college had a positive unrestricted fund balance of $27,493. President Russell Tuck said that he is pleased with the results of the audit, which revealed that the efforts of a three year plan to balance the budget have paid off. Tuck stated that the plan had three goals which mandated a balanced budget, salary increases for staff and faculty, and a contingency fund for emergencies. Each of these goals has been implemented. Seldom in the history of the college has the fiscal year ended in the black, much less with a surplus. It was "the first positive fund balance in many years," stated Tuck. Tuck cited a number of reasons for the financial problems that until recently have plagued the college with excessive debt. The major cause was an eight-year dropoff in enrollment from 1976 to 1984. Due to economic problems, programs has to be cut which escalated even higher declines in enrollment. In 1984, this negative tide began to change, and since enrollments have increased slightly each year. During this time, however, income did not keep pace with the expenses necessary for expansion of the college's programs. As a result, by 1990, the accu mulated deficit of the college had grown to over $5,000,000, with annual deficits running approximately $600,000. The sale of 15 excess acres completed last year made it possible for the college to pay off its indebtedness and begin this year with a surplus. Also included in the report was an account surplus of $150,000, funds which remain after last year's land sale. According to Tuck, the disposition of these funds has not yet been determined by the college's Board of Trustees, though he speculates that they will probably be used for endowment or for a contingency fund for emergencies. "I don't expect them (the Board of Trustees) to take any action See Audit, page 4. "Note Program" solves financial woes By Paul Edwards Assistant Editor Last Fall, when Cal Baptist began its extension program at Fort Irwin, the Administration did not realize that due to recent changes in regulations, they were operating a campus that was not Federally approved. Fortunately, the college recently recieved Federal approval for the campus, which was designed to expand the college and cater to the "Non-traditional" student However, the approval came too late to affect the financial aid dilemma that faced students who had been enrolled in the program while it still was not approved. In order to keep the students' accounts current and allow their continuing enrollment, Cal Bap tist created the Note Program. The Business Office, in conjunction with the Financial Aid Office created this particular form of financial assistance. It consists of promissary notes set up by Cal Baptist to cover the promised Federal assistance. The option was proposed by the Business Office as an alternative to the students' dropping out or the college denying them admission, due to the college's rule that all student's must have a current account with a zero balance to enroll in the following semester. The Note Program affects students who were enrolled from terms beginning in Fall, 1990 through the Summer of this year. The current Federal approval that the campus maintains allows current students to be eligible for Federal Aid. The college is not See Financial, page 4. Staff has mixed feelings over computer By John Poston Staff Writer The ten-year-old Motorola computer system at Cal Baptist has breathed its last, making way for the new Hewlitt Packard 700 series computers. Academic dean Dr. Stephen Carleton explained that the old hardware was "dying," and spoke in no uncertain terms of its obso lescence. The new system allows networking and information processing from a single data base, a feature the Motorola system did not employ. Citing the cost-effectiveness of the purchase, Carleton stressed that the college got the best buy for the best equipment. "CBC was the only college in America that still used the Motorola system. This is not a case of impulse shopping on the part of the administration," Carleton stated. Not all staff members share Dean Carleton's enthusiam for the computers, which have been in use for about three months. At a cost of four hundred thousand dollars, some have questioned the wisdom of such an investment. See Computer, page 4. Inside pulling teeth... ...page 3. Senate and class elections... ...page 4. BSU News... ...page 6. Latest Sports coverage... ...page 7.
Object Description
Title | The Banner, Vol. 36 No. 2 - September 24, 1991 |
Subject | California Baptist University -- Students -- Periodicals. College student newspapers and periodicals -- California. |
Description | The Banner is the student newspaper of California Baptist University. It has been in continuous publication since 1952. |
Creator | California Baptist University |
Date | September 24 1991 |
Type | Text |
Language | en |
Rights | Copyright California Baptist University. All Rights Reserved. |
Description
Title | 1991-09-24-001 |
Transcript | The nner Volume XXXVI, Number 2 A Publication of the Students of Cal Baptist September 24, 1991 Audit reveals budget surplus By Tom Pace Editor Jaime Coston is this year's ASCBC president. (Photo by Jason Carter) A recent audit of the college's financial accounts shows a budget surplus for the first time in years. The audit, which is routinely performed each year, showed that the college had a positive unrestricted fund balance of $27,493. President Russell Tuck said that he is pleased with the results of the audit, which revealed that the efforts of a three year plan to balance the budget have paid off. Tuck stated that the plan had three goals which mandated a balanced budget, salary increases for staff and faculty, and a contingency fund for emergencies. Each of these goals has been implemented. Seldom in the history of the college has the fiscal year ended in the black, much less with a surplus. It was "the first positive fund balance in many years" stated Tuck. Tuck cited a number of reasons for the financial problems that until recently have plagued the college with excessive debt. The major cause was an eight-year dropoff in enrollment from 1976 to 1984. Due to economic problems, programs has to be cut which escalated even higher declines in enrollment. In 1984, this negative tide began to change, and since enrollments have increased slightly each year. During this time, however, income did not keep pace with the expenses necessary for expansion of the college's programs. As a result, by 1990, the accu mulated deficit of the college had grown to over $5,000,000, with annual deficits running approximately $600,000. The sale of 15 excess acres completed last year made it possible for the college to pay off its indebtedness and begin this year with a surplus. Also included in the report was an account surplus of $150,000, funds which remain after last year's land sale. According to Tuck, the disposition of these funds has not yet been determined by the college's Board of Trustees, though he speculates that they will probably be used for endowment or for a contingency fund for emergencies. "I don't expect them (the Board of Trustees) to take any action See Audit, page 4. "Note Program" solves financial woes By Paul Edwards Assistant Editor Last Fall, when Cal Baptist began its extension program at Fort Irwin, the Administration did not realize that due to recent changes in regulations, they were operating a campus that was not Federally approved. Fortunately, the college recently recieved Federal approval for the campus, which was designed to expand the college and cater to the "Non-traditional" student However, the approval came too late to affect the financial aid dilemma that faced students who had been enrolled in the program while it still was not approved. In order to keep the students' accounts current and allow their continuing enrollment, Cal Bap tist created the Note Program. The Business Office, in conjunction with the Financial Aid Office created this particular form of financial assistance. It consists of promissary notes set up by Cal Baptist to cover the promised Federal assistance. The option was proposed by the Business Office as an alternative to the students' dropping out or the college denying them admission, due to the college's rule that all student's must have a current account with a zero balance to enroll in the following semester. The Note Program affects students who were enrolled from terms beginning in Fall, 1990 through the Summer of this year. The current Federal approval that the campus maintains allows current students to be eligible for Federal Aid. The college is not See Financial, page 4. Staff has mixed feelings over computer By John Poston Staff Writer The ten-year-old Motorola computer system at Cal Baptist has breathed its last, making way for the new Hewlitt Packard 700 series computers. Academic dean Dr. Stephen Carleton explained that the old hardware was "dying" and spoke in no uncertain terms of its obso lescence. The new system allows networking and information processing from a single data base, a feature the Motorola system did not employ. Citing the cost-effectiveness of the purchase, Carleton stressed that the college got the best buy for the best equipment. "CBC was the only college in America that still used the Motorola system. This is not a case of impulse shopping on the part of the administration" Carleton stated. Not all staff members share Dean Carleton's enthusiam for the computers, which have been in use for about three months. At a cost of four hundred thousand dollars, some have questioned the wisdom of such an investment. See Computer, page 4. Inside pulling teeth... ...page 3. Senate and class elections... ...page 4. BSU News... ...page 6. Latest Sports coverage... ...page 7. |