Showing posts with label finances. Show all posts
Showing posts with label finances. Show all posts

July 22 deadline to apply for federal help to avoid mortgage foreclosure

Saturday, July 16, 2011

July 22, 2011 is the last day to apply for federal assistance to keep your mortgage out of foreclosure.

The The U.S. Department of Housing and Urban Development (HUD) in conjunction with NeighborWorks® America has a program called the Emergency Homeowners’ Loan Program (EHLP) .

The program will assist homeowners who have experienced a reduction in income and are at risk of foreclosure due to involuntary unemployment, underemployment due to economic conditions or a medical condition.

Under EHLP program guidelines eligible homeowners can qualify for an interest free loan which pays a portion of their monthly mortgage for up to two years, or up to $50,000, whichever comes first.

Locally, the program is administered by Parkwood Services. The documents and instructions are on their website.

You can get started by downloading the Mortgage Default Intake Packet, filling it out completely, and mailing, or faxing it to Parkwood. You may wish to complete the online form in addition to the intake packet for faster service.

Whether you qualify or not, counselors at Parkwood offer information on the foreclosure process, and can provide one-to-one assistance to access community resources, develop a household budget, and negotiate with lenders for loan modifications or other repayment strategies. These are free services.


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Tuition to rise 12% at Shoreline Community College under new state budget

Saturday, June 25, 2011

Shoreline Community College will go into the next year with less money coming from the state, more money coming from students and fewer employees.

“You can see that over the past three years, the percentage of the college budget from the state allocation is getting smaller while the percentage covered by student tuition and fees is getting larger,” said Daryl Campbell, Vice President for Administrative Services. Campbell was speaking to the college Board of Trustees at the June 22 regular meeting. 
The trustees approved the overall budget of $37.8 million, but not unanimously and even some of the yes votes weren’t happy about it.
“Can the trustees vote to approve something less than 12 percent,” Shoreline Trustee Shoubee Liaw asked somewhat rhetorically. “I think it is just morally wrong. We’re committing (students) to debt.”
Board Chair Jerry Smith said he would reluctantly vote for the tuition increase included in the budget, but agreed with Liaw.
“Increasing tuition at a place like the University of Washington is one thing, but raising tuition at a community college is way worse,” Smith said. “The community college system is at the forefront of the national agenda right now. To raise tuition on community college students is very objectionable to me.”

The budget includes a 12 percent average tuition increase, an increase set by the state Legislature in the recent special session and approved by Gov. Chris Gregoire. 


During a study session before the regular meeting, Campbell presented a chart that showed the shifting funding burden.



In 2009-10, Campbell said, the unrestricted state allocation accounted for 51 percent of the college budget. The next year that had slipped to 48 percent and for the coming year the figure is 44 percent. 

In contrast, the student tuition portion has risen from 34 percent, to 35 percent to 40 percent over the same three years. He also pointed out that the category called local funds, primarily student-paid fees, has also grown from 8.9 percent, to 9.5 percent to 11.3 percent of the operating budget during that same period.

--Jim Hills,  SCC Blog

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State lawmakers pass budget, college on hold for full impact

Thursday, May 26, 2011

By Jim Hills, SCC On Campus Blog

Lawmakers have done their work on a budget for the state, but that doesn’t necessarily mean officials at Shoreline have a budget for the community college.

“I’d say we’re moving toward clarity; we know more now than we did before,” Shoreline Community College President Lee Lambert. “Now, we have to wait for Gov. Gregoire to sign the budget, and she can veto sections if she chooses, then the State Board must take action on the allocations to the colleges.”

According to staff at the State Board of Community and Technical Colleges, Gregoire has until June 16 to sign the legislation, the same day as the next scheduled state revenue forecast. She can also veto some items while approving others. The next meeting of the State Board is set for June 22-23, with the agenda expected to include budget-related items.

“We’re working now to better understand the timing so that we can get a college budget passed by our trustees before July 1, the start of the new fiscal year,” Lambert said.

Based on experience with previous allocations, Vice President for Administrative Services Daryl Campbell said the college looks to be losing about $2.7 million in direct allocation from the state for the coming year.

“It’s good news, bad news,” Campbell said. “We had previously planned for about $3.1 million in cuts, so the initial number is lower, but the budget bill also includes a number of other reductions that are difficult to gauge from our individual campus impact perspective.”

The caveats are many, Campbell said.

The bill includes salary reductions for state employees, but the language appears to be unclear relating to higher education and the budget impact for institutions. For example, compensation is reduced by 3 percent for the biennium, but higher education institutions are exempt. Exempt, except those represented community college classified staff making more than $2,500 a month, “must be reduced by 3 percent and temporary salary reduction leave of 5.2 hours per month for a full-time employee will be earned.“

The bill also says that represented classified employees funded from non-state funds must be treated the same as those funded with state funds. While other higher education employees are not included, the schools appear to be on the hook for reducing state-funded compensation costs by the same 3 percent.

In addition, the budget bill caps pension contributions at 6 percent, but doesn’t relieve colleges of the obligation to continue matching existing employee plans that are above that level. In comments to the Board of Trustees at their May 25, 2011 meeting, Campbell said that obligation could add up to $434,000 that had been coming from the state and now must come from the college. The kicker, Campbell said, is that the bill identifies the source of those funds: Tuition.

“The bill raises student tuition by 12 percent for each of the next two years,” Campbell said. “But, from that added tuition revenue must come the payment for pensions.”

Not only that, but 3 percent will be siphoned off for an “innovation fund” that is intended to buy a new technological backbone for the entire state community and technical college system, unifying back office and other functions. The total price tag for the system, dubbed “ERP” for Enterprise Resource Program, is projected by some to hit $100 million, with implementation to begin in the next several years.

The budget makes a reduction of $2 million in the coming year and an additional $3.5 million in following year for “efficiencies” in the system. Those savings could come from consolidation of college districts, consolidation of administrative and governance functions such as human resources, budget and accounting services and presidents’ offices; consolidation of student services functions and libraries; and other administrative efficiencies such as greater use of telephone and videoconferencing and reducing travel costs.

Campbell said there is no prior experience to fall back on for how plan for that reduction.

A separate bill gives the SBCTC free rein to implement what is called “differential tuition.” The issue is that some programs cost more than others to run, but the basic tuition is the same. What isn’t clear is how or when differential tuition could impact college budgets.

While there is still uncertainty remaining about final budget numbers, the trustees at the May 25 board meeting discussed how they might consider helping by putting some of the board reserves toward the problem.

Board Chairman Jerry Smith polled his fellow trustees on their inclination to use board reserves in some fashion, getting positive, but nuanced, thumbs up all around. Trustee Phil Barrett closed the discussion by asking for further discussion at a future board study session or the annual retreat.

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Shoreline Community College starts layoff process

Tuesday, November 30, 2010

The state’s continued economic downturn means Shoreline Community College employees will learn over the next 10 days whether their positions will be cut in the next round of state-mandated budget reductions.

It just gets worse and worse and worse,” Shoreline President Lee Lambert said November 30, at a brown-bag meeting on campus. The announcement was triggered by the November 19 state revenue forecast and Gov. Chris Gregoire’s statement that another 4.6 percent, about $1 million to the college, must be cut in the current budget year that ends June 30, 2011.

Lambert said cuts will hit all areas of college employees; classified, faculty and administrators. Lambert said the college has started the processes required by labor contracts to notify employees.

We’ll notify the classified union immediately,” Lambert said, adding that faculty representatives have also been notified. Administrators, who are not unionized, will be told individually, he said.

Lambert didn’t say on Tuesday which positions or how many would be identified for layoff or reduction-in-force, but that details would be available soon.

“I hope to present a plan with at least the numbers of positions affected on December 10,” Lambert said. An all-campus meeting is scheduled for 12:30-2 p.m. that day in the PUB main dining room.

The process for layoff or RIF is outlined by contract and differs for each group. For example, seniority “bumping” rights come into play for classified employees. The classified contract is negotiated at the state level and offers the college less flexibility, he said. Position reductions for faculty members, who are represented locally, could be affected by retirements and other factors.



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Smart Money Skills for College

Wednesday, May 12, 2010

Free Seminar at Shoreline Community College

The Global Affairs Center and the Worldly Philosophers and Dismal Scientists’ Society of Shoreline Community College and BECU (a community credit union) will host a free financial literacy seminar from 12:30 to 1:30 pm, Tuesday, May 25, in the PUB, room 9208, the student union building at the main campus of Shoreline Community College.

Learn personal budgeting tips, discover ways to protect yourself from identify theft and fraud, find out how to increase your future spending power and learn to build and manage credit. Free pizza.

Shoreline Community College is located at 16101 Greenwood Ave N, just west of Aurora Avenue.

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SCC faculty jobs at risk

Monday, November 23, 2009

Shoreline Community College has notified union representatives that all faculty jobs at the school could be at risk.

Known as a Reduction in Force (RIF) notice, the college has never before put every faculty member on notice.

“We’ve faced cuts before, but we’ve never faced anything like what appears to be coming,” said Vice President for Academic Affairs John Backes, referring to pending state budget cuts. The notice was by Backes to college and faculty union officials on Tuesday, November 17. 

By contract, the college is obligated to send such notices as soon as possible, said Stephen P. Smith, Vice President for Human Resources and Legal Affairs. Smith said classified union members and other employee groups have not been noticed because of differences in contract language. “We’ve spoken with the other groups,” Smith said. “They’re aware.”

In previous years, faculty for programs that drop below designated enrollment targets could’ve received RIF notices. However, economic conditions have forced many people back to school and Shoreline, like all other community and technical colleges in the state, are seeing explosive enrollment growth. In his message to union reps, deans and other administrators, Backes wrote:

“After review of all programs for low enrollment, I have concluded that no current programs are under-enrolled using the criteria we used last year. That does not mean, however, that all programs are at capacity. Given the anticipated budget reductions for the 2009-2011 biennium … and the (State Board of Community and Technical College) Declaration of Financial Emergency … adopted on June 11, 2009, … I must put all RIF units on notice for a Reduction In Force for the 2009-2011 biennium regardless of their enrollment.”

“This is an extremely serious situation,” Backes said on Friday, Nov. 20. “This is going to hurt us in ways we can’t even imagine. We’re going to chop into healthy programs”

On Thursday, the state announced the projected budget shortfall had grown to $2.6 billion. Potential cuts for community and technical colleges had been predicted in the 6-12 percent range. Backes said the Thursday announcement makes 12 percent seem more likely. “A 12 percent cut will be catastrophic for most institutions of higher education in this state,” he said.

Amy Kinsel, 1st Vice President of the SCC Federation of Teachers Local 1950, Faculty, agreed with Backes’ assessment.

“If layoffs happen, it will cut into our ability to serve the same number of students,” she said. “The (union) opposes any additional faculty layoffs. The state budget situation is dire. We’re looking to the Legislature to be innovative in finding a solution.”

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