Analysis of the Return on Investment and Economic Impact of Education

TABLE 1.1: Employee data, FY 2014-15

Employee data Data provided by MCC include information on faculty and staff by place of work and by place of residence. These data appear in Table 1.1. As shown, MCC employed 924 full-time and 881 part-time faculty and staff, including student workers, in FY 2014-15. Of these, 100% worked in the county and 89% lived in the county. These data are used to isolate the portion of the employees’ payroll and household expenses that remains in the county economy. Revenues Table 1.2 shows the college’s annual revenues by funding source – a total of $162.9 million in FY 2014-15. As indicated, tuition and fees comprised 16% of total revenue, and revenues from local, state, and federal government sources comprised another 78%. All other revenue (i.e., auxiliary revenue, sales and services, interest, and donations) comprised the remaining 6%. These data are critical in identifying the annual costs of educating the student body from the perspectives of students, taxpayers, and society. Expenditures The combined payroll at MCC, including student salaries and wages, amounted to $107.8 million. This was equal to 67% of the college’s total expenses for FY 2014-15. Other expenditures, including capital and purchases of supplies and services, made up $52.7 million. These budget data appear in Table 1.3. Students MCC served 28,580 students taking courses for credit and 4,261 non-credit students in FY 2014-15. These numbers represent unduplicated student headcounts. The breakdown of the student body by gender was 47% male and 53% female. The breakdown by ethnicity was 63% white, 36% minority, and 1% unknown. The students’ overall average age was 21 years old. 2 An estimated 80% of students remain in Monroe County after finishing their time at MCC, another 17% settle outside the county

Full-time faculty and staff

924

Part-time faculty and staff

881

Total faculty and staff

1,805

% of employees that work in the county

100%

% of employees that live in the county

89%

Source: Data supplied by MCC.

TABLE 1.2: Revenue by source, FY 2014-15

FUNDING SOURCE

TOTAL

%

Tuition and fees

$26,177,854 16%

Local government

$26,976,356 17%

State government*

$57,813,598 35%

Federal government

$41,926,961 26%

All other revenue

$9,977,323

6%

Total revenues

$162,872,092 100%

* Revenue from state and local government includes capital appropriations. Source: Data supplied by MCC.

TABLE 1.3: Expenses by function, FY 2014-15

EXPENSE ITEM

TOTAL % OF TOTAL

Employee salaries, wages, and benefits $107,767,215

67%

Capital depreciation

$6,248,446

4%

All other expenditures

$46,404,059

29%

Total expenses

$160,419,720

100%

Source: Data supplied by MCC.

but in the state, and the remaining 4% settle outside the state. 3 Table 1.4, on the next page, summarizes the breakdown of the student population and their corresponding awards and credits by education level. In FY 2014-15, MCC served 2,348 associate degree graduates and 212 certificate graduates. Another 20,482 students enrolled

2 Unduplicated headcount, gender, ethnicity, and age data provided by MCC.

3 Settlement data provided by MCC.

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