President/CEO Message
April 26, 2021
The last week of April has begun, and next week I must prepare for the videotaping of my 2021 Commencement speech. The semester is moving so fast, with commencement scheduled to take place virtually at 11 a.m. on Friday, June 11, 2021. Multiple year-end events are scheduled for May/June 2021 to celebrate our students' accomplishments. A complete schedule will be available soon. Hopefully, you can attend at least one of the virtual festivities. Additional commencement information, including Grad Fest dates, is available on the Commencement Information webpage.
The President/CEO Message - April 26, 2021, includes COVID-19 information and other campus-related updates.
Compton College COVID-19 Update
Los Angeles County's current risk level is Orange Tier (moderate), according to California's "Blueprint for a Safer Economy." On April 25, 2021, there were 408 newly recorded confirmed cases in Los Angeles County. The county now has a total of 1,231,532 reported cases (including cases reported by Long Beach and Pasadena Health Departments). For more information, go to http://publichealth.lacounty.gov/media/Coronavirus/data/index.htm. Compton College is operating at Level 3 - Moderate Infection Rate according to the Compton CCD Pandemic Outbreak - Emergency Operations Plan.
2021-2022 Compton College Goals
In the President/CEO Message - March 29, 2021, I introduced the draft 2021-2022 Compton College Goals. The updated draft of the 2021-2022 Compton College Goals is available here for your final review. Through Collaborative Governance, the goals have been shared with the Consultative Council, Compton CCD Board of Trustees, and will be shared with the Planning and Budget Committee tomorrow, April 27, 2021. If you have any questions, concerns, or creative input on the 2021-2022 Compton College Goals, please send them to me at kcurry@compton.edu.
Compton Community College District 2021-2022 Budget
The Compton CCD 2021-2022 Budget Assumptions have been shared with the Consultative Council, Compton CCD Board of Trustees, and were included in my April 21, 2021, Tartar Talks presentation. The updated Compton CCD 2021 Budget Assumptions are available here for your review and will be shared with the Planning and Budget Committee at their meeting tomorrow, April 27, 2021.
In the President/CEO Message - August 27, 2020, I mentioned that we must begin planning for the District to assume additional expenses associated with Compton College Recovery Fund. We have six Informational Technology Services positions funded with the Compton College Recovery Fund that will have to be assumed by another Compton CCD funding source. The updated 2021-2022 Compton CCD Budget Assumptions include transferring four Information Technology Services positions from the Compton College Recovery Fund to the Unrestricted General Fund.
I anticipate the 2021-2022 Compton CCD Budget Assumptions will be reviewed again and revised once more after receiving additional information from the Governor's May Revision Budget Proposal. If you have any questions, concerns, or creative input on the 2021-2022 Compton CCD Budget Assumptions, please send them to me at kcurry@compton.edu.
Compton CCD Other Post-Employment Benefits (OPEB) Futuris Public Entity Investment Trust
As mentioned President/CEO Message - January 4, 2021, over the years, I have discussed Compton CCD's outstanding fiscal obligations, including our Other Post-Employment Benefits (OPEB) liability. In spring 2019, Total Compensation Systems, Inc. completed the Compton Community College District Actuarial Study of Retiree Health Liabilities. An updated Compton Community College District Actuarial Study of Retiree Health Liabilities will be completed in early May 2021. The draft report states as of June 30, 2020, the Compton CCD Total OPEB liability has increased to $15,005,388. Previously, the Compton CCD Total OPEB liability was $14,103,782.
On July 18, 2013, Compton CCD established the OPEB Futuris Public Entity Investment Trust to be used for the investment and disbursement of funds to pay the District's OPEB obligations. As of March 31, 2021, the trust has a fair market value of $11,250,939. Our current Funding Schedule has been to pay the entire liability by the 2030-2031 fiscal year. However, at the May 18, 2021, Compton CCD Board of Trustees meeting, I will recommend the Board of Trustees to have our OPEB liability fully funded by June 30, 2023. This will be a tremendous accomplishment for Compton CCD. By having our OPEB Futuris Public Entity Investment Trust fully funded, the earnings from the trust will pay for our future expenses, i.e., such as the "pay as you go" costs for retiree benefits, which is estimated at $600,000 for the 2021-2022 year.
The future savings in the Unrestricted General Fund will assist Compton College with expenses currently funded by the Compton Recovery Fund, including the Information Technology Staff positions, Information Technology Maintenance/Service Contracts (Non-ERP Related), and Information Technology Equipment.
Compton CCD Pension Stabilization Trust (PST) Account
On July 25, 2016, we established the Compton CCD Pension Stabilization Trust (PST) Account. As of March 30, 2021, the Compton CCD PST Account had a fair market value of $4,179,172.82. Since 2016, a total of $3,100,000 has been deposited into the trust account. Over the next couple of weeks, we will revise the Compton CCD Pension Stabilization Funding Schedule and present it to the Planning and Budget Committee at their May 25, 2021 meeting. The goal is to begin utilizing these funds to offset the increase in PERS/STRS pension costs during the 2026-2027 year.
Graduate Communications
At the April 20, 2021, Compton CCD Board of Trustees meeting, the Board of Trustees approved a contract with Graduate Communications. The contract is available here. Following an aggressive timeline, the immediate, short-term strategy includes enhancing our career technical education webpages. The goal is for the Career and Technical Education webpages to be updated by July 1, 2021. The renovated webpages will provide career tool kits for each associate of science degree and certificate of achievement over 16 units, clarifying paths to employment and providing valuable salary information to help ensure students are considering living wage jobs. Graduate Communications will then assist in developing a media buying plan with input from campus stakeholders. One of the main objectives of the agreement is to execute a media collection that generates direct leads from prospective and former students who utilize the Compton College website. The goal is to implement this plan by mid-summer with expectations of impacting fall 2021 and spring 2022 enrollment.
Loyola Marymount University at Compton College Transfer Pathway
We are pleased to announce a new partnership with Loyola Marymount University (LMU) that gives Compton College students a direct path to transferring to the Los Angeles campus. Through the LMU at Compton College Transfer Pathway Program, first-year admission applicants at LMU will attend Compton College for one year, using resources and cost savings at the community college while gaining a broad academic foundation. Then, they will be able to transfer and finish their bachelor's degree at LMU. Participants will also receive automatic admission if GPA and course requirements are achieved. In addition to access to the LMU library, a specialized Transfer Pathway orientation, campus tours, and athletic events, students will receive career and professional development opportunities, transfer counseling, and more. The program aligns with our strategic initiatives to improve enrollment, retention, and completion rates for our students and strengthen community partnerships that promote student achievement.
COVID-19 Vaccine Appointments Available this Week for Compton College Students
Please remind your students that appointments for the COVID-19 vaccine are still available at the St. John's Student Health Center on campus. Students were sent an email last week with registration links for daily appointments. Students should check their @compton.edu email for more information.
Final Thoughts
Over the next couple of days, please remind your students to check their @compton.edu email for more information on the COVID-19 vaccine appointments. I want to make sure all our students are aware of this opportunity, and hopefully, they register for an appointment.
In the President/CEO Message - April 22, 2021, I shared a lot of information regarding the Safe Return to Campus Plan. If you have any questions or concerns, please let me know, contact your dean/supervisor, or contact the Pandemic Coordinators (rbox@compton.edu, rjames@compton.edu, lowens@compton.edu, hparnock@compton.edu, and rsasser@compton.edu).
In closing, please have a safe and productive week, and hopefully, you can limit your Zoom meetings. This week, I am averaging 6-7 Zoom meetings per day and still looking forward to a Zoom Free Meeting Day.
Sincerely,
Keith Curry, Ed.D.
(preferred pronouns: he/him/his)
President/CEO
Compton College
