Weekly News Brief | October 16, 2020
From the Office of Chancellor John Weispfenning, Ph.D.

Today, the Coast District is taking the necessary steps to get to solid financial footing during a very challenging time. With COVID-19 and funding shortfalls, the participation of all bargaining units and other employee groups – as well as executives and the Board of Trustees – to reduce costs has been important. I recognize that these are hard steps to take, for you and for your families.

At the same time, these collective efforts will save the Coast District and three colleges more than $2.6 million for 2020-21. This is in addition to savings from unfilled vacancies following the 123 incentive retirements and potential savings from the second incentive program available to classified and confidential staff.

My goal is to minimize the disruption of these budget actions, while also preparing us for an uncertain future. Taking the necessary steps at the appropriate time is a delicate balance, one we have achieved in this moment. This requires frank and sometimes tough conversations at the bargaining table and throughout shared governance.

As we await the next key pieces of budget information from the state, I continue to ask for your patience and also diligence in conserving resources. The less we spend this year, the more options we'll have available to face whatever the future holds.

Be well,

 John

John Weispfenning, Ph.D.
Chancellor

District Maintains Strong Bond Ratings

The nation's top bond-rating agencies, Moody's and Standard & Poor's, affirmed the Coast Community College District's excellent rating for general obligation bonds. Both agencies recognized the district with the second-highest ratings possible, Aa1 and AA+ respectively. The reaffirmation of ratings is connected to a bond refunding (equivalent of refinancing) program, which received Coast District Board of Trustees approval on October 7 and is anticipated to save millions for taxpayers.

"Strong financial management translates to strong bond ratings, which lowers costs for our local taxpayers on community bond programs like measures C and M," said Andrew Dunn, vice chancellor of finance and administrative services. "Part of our task over the next few years is to maintain a strong financial position by balancing competing demands and available resources."

Read the full news release

Schedule, Week of October 19

Voter Registration Deadline: This upcoming Monday, October 19, is the last day to register to vote. Head over to ocvote.com to register, locate official ballot drop off boxes, and find other voting information.

Undocumented Student Action Week: The Coast District invites students, classified professionals, faculty, and managers to learn about issues, policies, and resources for undocumented students during the week of October 19-23. Coastline, Golden West, Orange Coast, and the District Office all have information available for you and our Dreamer students.

Domestic Violence Awareness Month: Coast District virtual events are being offered throughout the month of October on healthy relationships, survivor healing, bystander training, and more.

Board of Trustees

Chancellor's Schedule

Vote Center Hours, Starting October 30

Board Room at the District Office, the Student Union at Golden West, and Coastline's Newport Beach and Westminster campuses.

For more information, please visit ocvote.com.