Financials from Annual Report
Waubonsee Community College operates under a conservative budgeting model that supports fiscal responsibility while providing a strong financial commitment to the college’s teaching and learning focus. For fiscal year 2017, the college again received a clean, unmodified audit opinion from its external auditing firm. This confirms the accuracy, professional competence and transparency exhibited by Waubonsee’s financial reporting. The college’s financial position continues to remain strong. The following charts reflect the actual results of the college for the Operating Funds which consist of the Education Fund and the Operations and Maintenance Fund.
Fiscal Year 2017 Operating Revenues by Source
 |
Operating revenues for the years ended June 30 (in millions)
|
Operating Revenue |
2015 |
2016 |
2017 |
|---|---|---|---|
|
Local Government |
$ 39.2 |
$ 39.7 |
$ 40.8 |
|
State Government |
5.2 |
1.5 |
5.9 |
|
Federal Government |
0.2 |
0.1 |
0.1 |
|
Tuition and Fees |
20.5 |
21.1 |
22.5 |
|
Other Revenues |
2.7 |
2.5 |
2.3 |
|
Total operating revenues |
$ 67.8 |
$ 64.9 |
$ 71.6 |
Fiscal Year 2017 Operating Expenses
 |
Operating Expenses for the years ended June 30 (in millions)
|
Operating Expenses |
2015 | 2016 | 2017 |
|
Salaries and Wages |
$ 32.6 |
$ 34.8 |
$ 35.9 |
|
Employee Benefits |
5.9 |
6.2 |
6.6 |
|
Contractual Services |
4.0 |
4.1 |
4.1 |
|
General Material and Supplies |
6.9 |
6.5 |
7.5 |
|
Conference and Meeting Expense |
0.9 |
0.7 |
0.9 |
|
Fixed Charges |
0.1 |
0.2 |
0.1 |
|
Utilities |
1.9 |
1.8 |
1.9 |
|
Capital Outlay |
0.5 |
0.8 |
0.6 |
|
Waivers and Institutional Scholarships |
0.7 |
0.7 |
0.7 |
|
Other |
0.6 |
0.4 |
0.4 |
|
Total operating expenses |
$ 54.1 |
$ 56.2 |
$ 58.7 |
Recognized for Excellence
The Government Finance Officers Association of the United States and Canada (GFOA) recognized Waubonsee Community College with the Distinguished Budget Presentation Award for its 2017 budget and with the Certificate of Achievement for Excellence in Financial Reporting for its 2016 Comprehensive Annual Financial Report (CAFR). This was the 18th consecutive year the college has received this award for its CAFR.
Comprehensive Annual Financial Report/College Budget
The college's Comprehensive Annual Financial Report (CAFR), including the report from the independent financial audit, and college budget provide financial information about the college.
