The match of Taboo worries players to describe a word for their crew members to guess, but strikes particular words and phrases from the record of clues that may be made use of.
For example, you may well be asked to describe the word “circle” with out applying the words and phrases spherical, arc, circumference, or diameter. A eager ear from the other team will, of study course, try out to catch you in the disqualifying act of using a person of the taboo phrases as you race in opposition to the clock.
As Waubonsee’s senior finance official, I imagine just one of the most essential matters I can — and should — do is assistance stakeholders realize the college’s financial well being and situation. I will not like to do this with heaps of charts and quantities, but instead with some quite simple and clear-cut ideas.
Think of this like finance or accounting for the non-big or, superior however, like a match of Taboo, the place I get to explain finance and accounting stuff but are unable to use numbers or greenback signals.
I like to explain the economical health of any organization or corporation, Waubonsee incorporated, to start with from the “harmony sheet” perspective. This report quantifies and lists what the school owns (assets) and what it owes to others (liabilities). The college’s harmony sheet has benefited from a record of sturdy financial management practices and choice-generating. Our assets contain:
• Stunning campuses and buildings
• Point out-of-the-art tutorial devices
• Liquidity to fork out our expenditures
• Lengthy-expression investments to be certain ongoing viability.

























Our liabilities exist mainly as bonds, which we’ve sold to traders about the yrs to finance our design and transforming projects, quite similar to the mortgages homeowners usually have. When we subtract what we owe from what we have, we refer to the distinction as “internet posture.”
The 2nd statement of great importance for the untrained eye is the “money assertion.” It quantifies and lists what the faculty gets (revenues) and what it spends (expenditures). The most distinguished profits resources for Illinois group colleges are tuition, local assets taxes, and point out guidance.
Expenditures contain salaries, gains, tuition waivers, and quite significantly just about anything we buy — desktops, educational machines, guides, provides, etc.
In the corporate world, the difference among revenues and expenditures would be identified as a income or decline. As a nonprofit organization, although, “profits” do not get distributed to shareholders, but rather get extra to our property at the conclude of the year. This indicates that in its place of profit or decline, we refer to the big difference amongst our revenues and expenses as “change in internet position.”
Waubonsee Local community Higher education is accountable to lots of stakeholders:
• The board of trustees, elected by our district people to be accountable stewards of their tax bucks.
• Learners who entrust their tuition bucks to us with an expectation of a higher-top quality education and learning.
• Personnel who count on us to support them and the substantial-excellent products and services they provide to our students and the neighborhood.
From a economic health viewpoint, how do we know how we are executing? I will split the “no quantities” video game rule right here to describe two actions of certain great importance: the public Composite Monetary Index (CFI) and our Bond Score, both of those of which collapse dozens and dozens of financial metrics into simplified, aggregated scores.
Our accrediting company, the Larger Studying Fee, involves us to report our CFI each individual 12 months. On a scale that ranges from -4 to +10, Waubonsee’s most recent score was 6.6 and has been on a common upward development for the last 10 decades.
Our bond ranking organizations use a letter-based mostly grading scale. Akin to an educational quality scale, A-degree scores are the greatest, but the score agencies have several levels for just about every letter. With a ranking of AA+, Waubonsee’s creditworthiness is just one notch shy of the best achievable ranking of AAA. The principal economical variable inside our regulate to eventually accomplish the AAA rating would be to even further increase the balances of our price savings accounts (our offer of dollars and prolonged-time period investment balances).
Even right before the pandemic, the better schooling sector was dealing with a gradual but constant decline in enrollments nationwide. Recognizing the value of tuition as one particular of the three most important earnings sources on our cash flow statement, a unfavorable base line, or in other words and phrases, a reduction in web place runs the hazard of eroding the college’s economic power.
Accordingly, we continually observe both of those enrollments and tuition charges.
In mild of the pandemic, however, we have been ready to leverage the college’s money strength to advantage both our students and our taxpayers. Past semester, the school funded two scholarship courses, a Spring Forward scholarship of $40 for each credit score hour for each individual registered college student, and an software-centered Pandemic Reduction Scholarship.
In addition to almost $3,000,000 in cost savings for college students provided by these two packages, the board endorsed sustaining a amount tuition and fees rate for the tutorial calendar year 2021-2022. And our district taxpayers a short while ago obtained their house tax charges, which mirror a minimize in the Community College District 516 element line.
When the quantities of individuals reductions fluctuate centered on house values, the aggregated personal savings to district taxpayers was just about $9,000,000.
We will proceed to perform with all of our stakeholders to manage and bolster the college’s fiscal footing even though furnishing fantastic education and expert services to our college students and the district.
Even while I may well have bent the Taboo match guidelines a little bit, simply just recall the college’s economic standing is seem. We are very well-positioned to continue serving our students and our community mainly because we diligently manage our once-a-year revenues and expenses.
• Doug Minter is Vice President of Finance and Administration at Waubonsee Community College in Sugar Grove.
