document resume ed 433 893 · document resume. ed 433 893 jc 990 608. author piotrowski, craig...

DOCUMENT RESUME

ED 433 893 JC 990 608

AUTHOR Piotrowski, CraigTITLE Waukesha County Technical College 1998 Financial Activity

and Condition Taxpayer Summary.INSTITUTION Waukesha County Technical Coll., Pewaukee, WI.PUB DATE 1998-07-00NOTE 29p.; For the fiscal year ended June 30, 1998.PUB TYPE Numerical/Quantitative Data (110) Reports Descriptive

(141)

EDRS PRICE MF01/PCO2 Plus Postage.DESCRIPTORS *Accountability; Annual Reports; Community Colleges;

*Community Relations; *Educational Finance; FinancialPolicy; Financial Support; *Institutional Evaluation;*School Community Relationship; School Funds; Two YearColleges

IDENTIFIERS *Waukesha County Technical College WI

ABSTRACTThe Waukesha County Technical College (WCTC) Financial

Activity & Condition Taxpayer Summary (FACTS) provides a brief report on thefinancial operations of the college. The summary is prepared for the localcommunity, which provides property and business tax and other support toWCTC. Press releases on the FACTS availability were sent out by WCTC andcopies of the document were sent to various constituencies, all in the effortto help meet the college's public accountability obligation. Key elements ofthe summary include: (1) a message from the Board describing accomplishments,commitment to quality, planning issues and concerns facing WCTC; (2) a

President's Outlook, which discusses the college's role in the localeducation community and the global marketplace; (3) recent service effortsand accomplishments; (4) a brief history of the college; (5) current collegefinancial condition, assets, and liabilities; (6) college financial activity,revenues, and expenditures; (7) taxing district statistics; (8) propertyvalues and taxes; and (9) student information and graduate follow-up. Totalassets increased from $60 million to $62 million between 1997 and 1998, whilethe general balance fund decreased from $14.6 million to $13.9 million. (RDG)

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Reproductions supplied by EDRS are the best that can be madefrom the original document.

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Enriching Lives For 75 Years

WAUKESHA COUNTY TECHNICAL COLLEGEPewaukee

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EDUCATIONAL RESOURCES INFORMATIONCENTER (ERIC)

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Picture on CoverThis year marks the 75th anniversary of WaukeshaCounty Technical College-75 years of enrichingthe lives of the people of Waukesha County. Thecollege has grown from a small city vocationalschool in 1923 with 443 students to a county-widetechnical college with an enrollment of more than35,000 full and part-time students in 1998.

Thanks to the contributions of hundreds of staffmembers working together over the past 75 years,WCTC is today recognized as one of the premierinstitutions of occupational and technical educa-tion in the United States.

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Finding innovative means of keeping pace with therapidly changing needs of today's and tomorrow'sworkforce will continue to be integral to the next75 years of WCTC's history. WCTC looksforward to its future in Waukesha County and theState of Wisconsineager to meet the challengesthat the new millennium will bring.

WCTC celebrated its 75th Anniversary with a seriesof special events, publicity stories and a publishedhistory of the college. Keynote speaker William F.Buckley, Jr. kicked off the year-long slate ofevents at the second annual Business and IndustryLuncheon which attracted 350 community andbusiness leaders.

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Feedback RequestedWCTC values reader/customer feed-back. Please forward your questions,comments or other input toCraig Piotrowski:

Telephone number: 414-691-5281FAX number: 414-691-5593Internet address:[email protected]

AcknowledgmentsThis FACTS report was created andwritten by Craig Piotrowski (CPA) withdesign and layout by Lauretta Wenger ofWCTC.

Special thanks to Dr. Richard Andersonand the WCTC Board for their vision.encouragement, input and support.

WCTC also thanks the followingindividuals for their contributions to thisreport: Cary Tessmann (CPA & CMA),Gayle Graham, Richard Anderson(Ed.D.), Karen Aamot, Liane Dolezar.Kathleen Yindra, Simon Tai, MaryGonzales, Julie Mclntosh-Mrosz, Ellen

Mei, and Jill Metzger of WCTC; StevenPaw low and Lori Dreckmann (CPAs) ofKPMG Peat Marwick LLP (publicaccountants); Ed Virnig (CPA) of VirnigSC (public accountant and WCTC'sinternal auditor); Bert Edwards (CPA);and Keith Kolb and Michele Wiberg ofRobert W. Baird & Co. (investmentbanking).

This report was printed by TJ PrintingCo. of New Berlin, Wisconsin, onWausau Royal Linen (50% recycled,15% post consumer waste).

4

wethe organization is

willing to give

public voice

to information

to listen to different

interpretations

and to process

them together

the information

becomes amplified .. .

creative responses

emerge and

significant

ch6nge becomes

possible."

Margaret J. Wheatley

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TABLE OF CONTENTS

0.B Lindholm,director 1923-1949

Richard T. Anderson, Ed.D.President 1973 to present

Tony Natalizio,director 1949-1973

The 1998 FACTS ReportMessage from WCTC Board MembersWCTC Board Members 4The President's Outlook 6

Service Efforts & Accomplishments 8

Brief History, Profile & Map 10

Operational & Financial ReviewsFinancial Condition 12

Financial Activity 14

Primary College Operations 16

Unemployment & Per Capita Statistics I 7

Property Values & Taxes 18

Student Information 20Graduate Follow-UpPlanning ProcessPopular Reporting Award

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Report Purpose and DistributionInformationThe purpose of this report is to provide informa-tion in a clear and concise manner. Press releasesand a public notice regarding this report's avail-ability have been sent to and published in areanewspapers. Copies have been sent to libraries,legislators, municipalities, taxpayer groups, areabusinesses, and individuals.

Recipients of this report are encouraged to displayit in public areas and freely share its content withothers to help minimize distribution costs. WCTCemployees received this report for their informa-tion and to share with our advisory committeesand other interested parties.

This report is not copyrighted so it may beduplicated.

5

Enriching Lives For 75 Years .

THE 1998 FACTS REPORTOctober 26, 1998

The Financial Activity & Condition Taxpayer Summary (FACTS) provides a concisereport on the financial position and operations of Waukesha County Technical College(WCTC) for the fiscal year ended June 30, 1998. This Summary is prepared for localbusiness and community taxpayers who provide property tax and other support toWCTC.

Because this Summary simplifies and condenses our 1998 Comprehensive AnnualFinancial Report (which is over 100 pages long) for all WCTC funds and accountgroups, it does not conform to established generally accepted governmental accountingprinciples and related reporting standards.

WCTC's 1998 Comprehensive Annual Financial Report has been audited by the publicaccounting firm of KPMG Peat Marwick LLP and conforms to generally acceptedaccounting principles.

For more than fifteen years, our comprehensive annual financial reports have receivedfinancial reporting awards from the Government Finance Officers Association(GFOA), the Association of School Business Officers International, and the WisconsinGovernmental Reporting Awards Through Evaluation Program. WCTC's 1997FACTS report received the GFOA Award for Outstanding Achievement in PopularAnnual Financial Reporting. These reports, with the help of input received fromreporting award programs and research of the Governmental Accounting StandardsBoard, are the foundation for this Summary and help us to meet our public accountabil-ity obligation.

As you review this Summary. please share any questions, concerns or suggestions youmay have about WCTC to help us meet our stewardship responsibility. Please callCraig Piotrowski at 414-691-5281 to request our budget document, our comprehensiveannual financial report, our vision/strategic plan, or other information.

Sincerely,

Richard T. Anderson, Ed.D. Craig L. Piotrowski, CPAPresident Vice President of Financial

& Administrative Services

/16 X7466-e441A- r

6."/12

Thomas E. NeillWCTC BoardSecretary/Treasurer

Susan E. BischmannWCTC Board Chair

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6

"Now, what I want

is FACTS: ...FACTS alone are

wanted in life.

Plant nothing else,

and root out

everything else."

Charles Dickens

1

"If there is no

accountability,

people gradually

lose their sense

of responsibility"

- Stephen R.

Covey

2


MESSAGE FROM WCTC BOARD MEMBERS

WCTC is a "learning organization" deeplyconcerned about the learning needs of its stake-holders (students, taxpayers, employees and othercustomers). Our ongoing goals are designed toprovide valuable educational services to ourstudents, employers, and community in a mannerthat is sensitive to our taxpayers.

Our customers and peers have told us that WCTCis an educational leader in Wisconsin and in thenation. To maintain this leadership, we regularlyevaluate our educational programs and serviceswith groups of independent reviewers. Also, wehave hundreds of area employers, employees andstudents who serve on many College advisorycommittees that meet regularly to review ourprograms and give feedback to our faculty andstaff.

WCTC is proud of our employees who create andmaintain outstanding educational services. Weemploy highly-qualified and motivated personnelin all facets of our operations. We are committedto helping employees develop occupational skillsand to attain balance in interpersonal relationshipsto ensure a highly-effective workforce.

We further acknowledge our responsibility totaxpayers. We demonstrate accountability for ourresources through productive managementpractices, accounting systems, and operatingprocesses. These processes contribute to WCTC'sability to provide quality services to our commu-nity. Also, independent public accountants reviewour operations. accounting records and financialreports annually to help verify that WCTC meetsits stewardship responsibility. Our Board meetsregularly with independent auditors and manage-ment to share necessary information and to helpplan, lead and review WCTC operations.

This Financial Activity and Condition TaxpayerSummary report shows that WCTC's financialcondition is excellent, which is also reflected byour Aaa bond rating.

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Critical ConcernsAlthough WCTC is in excellent financial condi-tion, our College faces challenges and criticalconcerns that include:

Recently our faculty union petitioned to redefineor reconfigure their existing bargaining unit and toform a second bargaining unit primarily of non-represented professional employees who work lessthan 50% of a full workload. College managementis not in agreement with this petition although itsupports the right of all faculty and other profes-sional employees to choose to be represented by aunion. Also, we have recognized a lack of sharedunderstanding and mutual trust in our labornegotiation process. We have engaged in dialoguewith our faculty and support staff unions' leadersand members to focus on how we can worktogether to improve our labor relationships andnegotiation process. We are seeing some signs thatgive us hope for positive change, and both WCTCunion leadership and the Board are committed toworking to improve our labor relations.

Increased use of distance learning delivery systemsand technology as a classroom learning toolnecessitate costly investments in operational costsand capital assets. Changing technology chal-lenges the knowledge and skill levels of our facultyand staff to provide state-of-the-art studentlearning support systems. Labor market needsrequire continuous improvement of existingprograms and development of new programs foremerging occupations. In response to thesechallenges. WCTC is currently involved in afacility planning effort that may result in askingour taxpayers to approve a referendum for theconstruction and equipping of additional educa-tional facilities next year.

When students come to WCTC, many of them lackthe basic skills to be successful in an educationalprocess. Therefore, it is necessarybut verycostlyto provide our students with needed basicand critical life skills, along with supportingstudent assessment and advising services, that willenable them to be independent and successful.These changes are a part of the process of ourbecoming a more student-learning centeredorganization.

7


Although we are pleased with WCTC'seffectiveness, our measures of efficiencyin our educational process (cost perstudent contact hour, class size, etc.)continue to be disappointing. Our laborcosts are increasing at a faster pace thanmost of our revenue sources, whileenrollments are not increasing dueprimarily to high employment levels inour taxing district. Our post-employ-ment healthcare benefits, which arecomparable for union and non-unionemployees, exceed most similar benefitsfor public and private sector entities;and these benefits and a related lump-sum pension liability payment accountfor major increases in our overall coststhis year.

Finally, we are concerned aboutemerging trends in our revenue and costrelationships. Changing state andfederal funding levels. distributionmethods, and unfunded initiatives areadding to the burden on our propertytaxpayers.

Positive FactorsWCTC is committed to minimizing ourproperty tax burden and to keeping our1999 tax increase below 4 percent.

Our "Teaching Innovation Center"(where instructors can go to learn howto improve their teaching and to betterutilize technologies in their work) andour "Teacher Improvement System"(where each instructor pursues continu-ous improvement based on feedbackfrom students, employers, peers andself-evaluation) continue to haveextremely favorable impacts on profes-sional development and student-learningcentered outcomes at WCTC.

The Wisconsin Technical CollegeSystem is practicing more collaborationin planning and sharing efforts. WCTCis active in sharing course curriculum,library and instructional deliverysystems with other colleges. Similarly,we are pleased with our continuedprogress in securing articulationagreements with area school districts

and four-year colleges. This yearWCTC implemented new studentsystems software; again, in the spirit ofcollaboration, our new system softwareis used by two other Wisconsin Techni-cal College System colleges. Collabora-tive teamwork in student and adminis-trative systems is preparing us to betterutilize technology in support of studentand other stakeholder needs. Also, theWorkforce Development Center ofWaukesha County and our new Com-munity Nursing Clinic have becomeaward-winning, collaborative-partner-ship models for other public and privateentities.

During this year's celebration of our 75'hanniversary, we reflected on our qualityphilosophy, leadership programs,diversity efforts, development opportu-nities, Child Care Center, Women'sDevelopment Center, Waukesha CountyWorkforce Development Center andmany other activities that distinguishWCTC's commitment to improvementand more diversity in our workforce;this diversity is creating synergy andvalue in our learning organization.

Commitment to QualityLast year WCTC celebrated the tenthanniversary of our Quality/ValueProgram which has resulted in processimprovement efforts throughout ourCollege. We formally adopted Dr. W.Edwards Deming's total quality man-agement philosophy in 1988. Today,WCTC's ongoing quality practices canbe observed and experienced. We striveto promote customer focus, continuousimprovement, personal empowermentand organizational alignment.Following are examples of our continu-ous improvement efforts and employ-ees' dedication to our quality move-ment: more than 350 employees andBoard members have been trained inquality principles; more than 50employees have been trained to facilitatequality training or teams; 23 employeeshave been trained in Hoshin planningtechniques; and more than 100 employ-ees and Board members have been

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trained in Dr. Stephen R. Covey's SevenHabits of Highly Effective Peopleprogram. Last year, WCTC hosted aPrinciple-Centered Leadership work-shop which included participants fromother Wisconsin Technical CollegeSystem colleges, school districts andgovernmental entities.

William Piercewith blueprintsfor the 1972campus.

An originaldistrict boardmember wasthe lateWilliam Pierce,who served inthis capacityfor more than25 yearsbefore retiringin 1994.

Stakeholder Support &StewardshipWe thank our stakeholders for theirfinancial and other support that makesWCTC an asset to our community andone of the finest two-year colleges inour country.

We continue to improve our planningand Board governance process. Ourrelated efforts to be outcome-focusedare helping us navigate WCTC to keyoutcomes. These efforts are helping toincrease our effectiveness throughempowering our employees with astudent-learning centered focus.

As Board members, we are responsiblefor all facets of WCTC; and we aredeeply committed to being accountableto taxpayers and other stakeholders. OurCollege has defined accountability asthe stewardship responsibility WCTChas to its stakeholders to explain andclearly report its use of resources andthe results of its efforts to achieveorganizational objectives. This FACTSreport is one way we communicate withour stakeholders to meets our steward-ship responsibility.

Enriching Lives For 75 Years-4- _

WCTC BOARD MEMBERS

Board members are qualified to serve and provide a critical balancing perspective on WCTC's vision anddirection. In addition to nine appointed members, we have invited three non-voting representatives to joinour membership: a WCTC student representativeWillie Hodgins; a WCTC faculty representativeEllenMei; and a WCTC support staff representativeAnthony Drehfal. Our members live, work, and pay taxes inour district and include: professional educators, an elected official, current and former students, and onza-nized labor and business leaders. The WCTC Board is a cohesive, interdependent team that works andserves well together.

The learning

organization

must be a

teaching

organization."

-Ikujiro Nonaka

Susan Bischmann, Chair,is the executive director of theCooperating Congregations ofGreater Waukesha County,Inc., lives in the Town ofWaukesha, and has been aBoard member since 1992.

Ronald Bertieri, Vice Chair,is the owner/CEO of Ro-An Corporation,lives in the Village of Menomonee Falls,and has been a Board member since 1995.

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Thomas Neill, Secretary/Treasurer,is the clerk-treasurer of the City ofWaukesha where he lives, andhas been a Board member since 1990.

9

David Bahl is owner/presidentof Weldall Manufacturing,lives in the Town of Waukesha,and has been a Board membersince 1990.


Dr. Kathleen Cooke is thesuperintendent of HamiltonSchool District, lives in theVillage of Menomonee Falls,and has been a Board membersince 1994.

Judith Finkler is a nurseat Memorial HospitalOconomowoc, lives in theVillage of Wales, and became aBoard member in 1996.

Joan Jenstead is the nationaldirector of property operationsfor National RealtyManagement, Inc., lives in theCity of Brookfield, and hasbeen a Board member since1984.

Gary Hamilton is the business managerof the Plumbers Union Local #75,lives in the Town of Delafield, andhas been a Board member since 1986.

Anita Rodriguez is the directorfor program services for the GirlScouts of Milwaukee Area, livesin the Town of Delafield, andhas been a Board member since1995.

"What an

organization needs

is not just

good people;

it needs people

that are improving

with education."

-W. Edwards Deming

1 0 5

"Leaders of

learning

organizations . . .

must be able to

help people

understand the

systemic forces

that shape

change. . . .

Leaders in

learning

organizations

have the ability to

conceptualize

their strategic

insights so that

they become

public

knowledge, open

to challenge and

further

improvement."

Peter M. Senge

6


THE PRESIDENT'S OUTLOOK

For more thanthree years,WaukeshaCountyTechnicalCollege hasbeen deliber-ately movingfrom being ateaching-centeredorganization tobecoming astudent-learning

centered organization. This new model centers thetotal College Community around the student aslearner and the learning process. It moves, bymeans of technology, away from the limitations ofspace and time into the Age of Information whereteachers can assist students in pursuing personal-ized learning experiences and methodologies.This model calls for the College to use systemsthinking, shared visions and team processes toreview and evaldate its mission, goals, policiesand procedures. In this model, the most importantquestion is. "How does this decision or actionaffect student learning?" We believe it empowersour students to strengthen their learning skills andgain occupational competency necessary forproductive employment and personal developmentwhile preparing them to take ownership in thepursuit of lifelong learning.

WCTC continues to place a strong emphasis on itsinvolvement in the:

Waukesha County School-to-WorkConsortium.2+2+2 Seamless Approach to Career Success.Global Marketplace and International TradeContinuing Education.

Described (in the following columns) areexamples of how we are accomplishing ourBoard's ENDs (goals) in the areas of OccupationalCompetency and Educational Leadership.

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Waukesha CountySchool-to-Work ConsortiumAs a partner with the 12 Waukesha County areapublic school districts in offering valuable School-to-Work activities, such as those listed below,significant progress and success are being realizedby our 16-20 year old population as they preparefor their post-high school occupation and educa-tional goals:

School-based learning which addresses careereducation, program delivery and studenttransition.Work-based learning which includes workexperience, youth apprenticeships and work-sitedevelopment.Connecting activities which encompass mentortraining and high school counselors helping toexpand student/parent awareness of career andeducational choices.

2+2+2 Seamless Approachto Career SuccessThe 2+2+2 concept expands our collaborativeefforts with Waukesha County school districts andfour-year colleges and universities. It is aneffective and efficient transformation of occupa-tional education into a college degree. High schoolstudents are provided options to take classes intheir last two years of high school, transfer theminto a two-year associate degree program at WCTCand go on to a participating college or university tofinish a baccalaureate degree in two more yearswhile obtaining workplace experiences.

This past year has shown significant progress inestablishing additional articulation agreements withuniversities in the following areas:

WCTC and Waukesha North, South and West,New Berlin West and Eisenhower, Hamilton/Sussex and Kettle Moraine High Schoolscurrently have 2+2+2 agreements with theUniversity of Wisconsin-Stout in Printing &Publishing.WCTC and Arrowhead North and South,Brookfield Central and East, Catholic Memo-rial, Mukwonago, New Berlin West,Oconomowoc, Palmyra-Eagle, Pius XI,Waukesha North, South and West, and Wiscon-sin Lutheran High Schools currently have2+2+2 agreements with Marquette University inMechanical Design Technician.


High SchoolDiploma

TransferSchool

AssociateDegree

WaukeshaCounty

TechnicalCollege

WCTC and Oconomowoc andNlukwonago High Schools currentlyhave 2+2+2 agreements withMarquette University in ElectronicsTechnology.WCTC currently has 2+2agreements for its students electingvarious career options with:

Carroll College in Programmer/Analyst, Microcomputer Specialist. and Accounting.Marquette University inElectronics. Mechanical DesignTechnician. Police Science andDental Hygiene.University of Wisconsin-Stout inHospitality & TourismManagement and Printing &Publishing.Mount Mary College in FashionMarketing and RetailManagement.

Global Marketplace and Interna-tional Trade Continuing EducationIn a world economy, WCTC continu-ously works to improve its services tomeet the occupational education andtechnical assistance needs of ourstudents. employers and expandedcommunity. To respond to the globalmarketplace, WCTC maintains:

a comprehensive International Tradeassociate degree curriculum:an international trade resourcelibrary;partnerships with the WisconsinDepartments of Commerce andAgriculture, the Japan External TradeOrganization. and the Institute ofWorld Affairs:

Transfer

Bachelor ofScience

4 YearCollege orUniversity

a wide variety of continuingeducation courses and seminars; andinternational trade research andtechnical assistance services.

In concert with our educational courseofferings, WCTC provides experiencesfor students and staff to participate inforeign exchanges. Once again wehave nine students from variouscountries as part of the Youth ForUnderstanding Program and onestudent from Carl Duisberg Society -German Exchange. Sixteen WCTCHospitality Management and CulinaryArts students and two instructorsexperienced England and France thissummer in anticipation of the comple-tion of educa-tional articulationagreements withPlymouthCollege ofFurther Educa-tion and Ply-mouth Universityin England. Teninstructors andadministratorsvisited WCTCthis spring inconjunction withour German sisterstate of Hessen, as we continue

This summer, WCTC spearheaded theagreement that was signed by theGovernor and the Minister President ofHessen that will lead to exchanges withthe entire Wisconsin Technical CollegeSystem for faculty and students.

WCTC is actively seeking educationalopportunities for our students and staffto provide them with a more interna-tional perspective and to prepare themfor the challenges presented in theworkforce of a global economy.

toformalize more teaching/learningexchanges. We recently had fourGerman students (three in Telecommu-nications and Electronics and one inBanking) participate in our Hessenexchanges, and three WCTC mortgagelending students will be part of aneducational exchange this autumn.

c)

7

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"If one started

from focus

on customer

satisfaction,

one would

be led

to the rest of

Total Quality

Management."

- Harry V.

Roberts and

Bernard F.

Sergesketter,

Quality is

Personal

8


SERVICE EFFORTS & ACCOMPLISHMENTS

WCTC is an organization where service effortsand accomplishments flow from its vision andoutcome-driven planning process. A few ofWCTC's service efforts and accomplishments thatoccurred this year include the following:

The 1997 survey of our graduates indicated thatnearly 97% of WCTC graduates were satisfied orvery satisfied with the educational training theyreceived.

The 1997 survey of employers indicated 95%were satisfied or very satisfied with our graduates'technical education and 94% would hire anothergraduate. Over 90% of these employers said theywould recommend our graduates to anotheremployer.

On-site program evaluations were conducted byteams of business and industry representatives andeducators for the Auto Body and Paint Technician,Quality Assurance Technician, CIS-Microcom-puter Specialist, Fashion Marketing, RetailManagement, Property Assessment and Appraisal.and Office Equipment Repair programs. TheAutomotive Servicing Toyota T-10, CulinaryManagement, and Medical Assistant programsalso underwent in-depth reviews by professionalaccrediting agencies to ensure that programsremain aligned with employer needs.

Labor market studies assessed the need for newprograms in Carpentry, Bricklaying/Masonry.Circuit Board Design, Physical Therapy & SportsMedicine Assistant, and Physical Fitness &Exercise Science.

WCTC conducted focus groups and an occupa-tional analysis of network and telecommunica-tions technicians with representatives from variouscompanies to develop a Networking-Telecommu-nications associate degree program that includestraining in maintaining both wide and local areacomputer networks. Also, focus groups wereconducted to assess graduates' satisfaction withthe Central Service Assistant program and toidentify continuing education needs.

A total of 338 high school diplomas wereawarded to students who prepared at WCTC.

New student assessment and advising systemswere implemented.

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This year entire associate degree programs weredesigned to be completed on the Internet for theFinancial Planning Associate, Real Estate Broker-age and Property Management programs.

New advanced technical certificates weredeveloped in Mold Design, Die Design, Intra/Internet Development and Advanced Computer-Aided Design.

A new Individualized Technical Studies programwas begun and is intended for currently employedindividuals who have a career objective whichcannot be met by WCTC's existing programs. Itenables students to combine courses from two ormore major areas of study to meet student needswith a unique-customized Associate of AppliedScience Degree.

More than 160 students were elected or initiatedinto the scholastic honorary Phi Theta KappaSociety, the National Vocational-Technical HonorSociety or Who's Who in American JuniorColleges or received awards from national andstate competitions related to their WCTC training.

Business & Industry Services developed trainingcontracts with 183 different businesses andorganizations. Over 700 classes were offered with9,421 students enrolled.

Twenty-one faculty participated in the InstructorOccupational Competency Program that providesfaculty the opportunity to work in business orindustry in order to gain knowledge and skills thatlink classroom theory to the workplace.

Governor Thompson visited the campus to showsupport for the College's faculty developmentefforts and to tour our Teaching Innovation Centerto see how WCTC provides resources for instruc-tors and staff to improve teaching and studentlearning through the use of technology.

More than 1,500 community residents andemployers and 156 local businesses attended theWaukesha County Workforce DevelopmentCenter's (WDC) annual Job Fair. The WDC, areaschool districts and businesses co-sponsored theevent which was coordinated by WCTC's Employ-ment Opportunity Center. WCTC has beeninvolved in the Job Fair for 16 years. A new WDCCommunity Career Center menu of services

13

Enriching Lives For 75 Years)T_,)

t

includes a computerized career explora-tion-assessment tool, and betweenSeptember 1997 and May 1998, over1.400 community residents completedcareer assessments at the WDC.

With the Wisconsin ManufacturingCurriculum Consortium's help, WCTCreceived $200,000 of a three-yearS700.000 National Science Foundationgrant to fund curriculum developmentand its dissemination through multi-media delivery formats for use bytechnical colleges, universities, andbusiness and industry employers.

WCTC academic scholarships totalingnearly $104,000 were awarded to 150WCTC students to help finance theireducation at WCTC. An additionalS50.000 in scholarships received frombusiness and industry and private donorswere awarded to 45 WCTC students.

For the eleventh year, WCTC hostedCorporate Capers, which raised morethan 584,000 and was the single largestfund raiser in. Wisconsin for SpecialOlympics. WCTC hosted the thirdannual "Chipping in for Scholarships"golf outing raising $20,000 for theTechnical Excellence Scholarship Fund.For the sixth year, WCTC hosted theTREK 100 bicycle ride, and over 1.200riders participated in the event raisingover $250,000 for the Midwest AthletesAgainst Childhood Cancer Fund.

The Helen Bader Health Trust awardedWCTC a two-year grant for $44.578 toprovide community-based nursingexperiences for students and faculty incollaboration with the CommunityNursing Clinic at health fairs held atcommunity-based organizations, publicschools, and small business inWaukesha County. Also, WCTCdeveloped a care giver training packagefor Alzheimer's disease through aS93.000 Helene Fuld Foundation grantand is currently providing training atover 30 community-based facilities.

WCTC has been approved as aCommunity Training Center for theAmerican Heart Association. TheCollege provides CPR training for over1,000 people each year.

The Community Nursing Clinic andstaff won a community service awardthrough the American Association ofCritical Care Nurses.

About 400 high school students andparents converged on WCTC for theApril 2 Manufacturing TechnologyCareer Night. The evening included apanel discussion featuring industryexperts, high school and technicalcollege representatives, and skilled tradeprofessionals who explained the presentand future needs of the skilledworkforce, the best way to begin askilled trade career, and the mostenjoyable aspects of working in anoccupation.

Thirty middle and high school studentsfrom Waukesha and 45 middle schoolstudents from Milwaukee participated inthe 1998 Career Quest. This programprovides opportunities for minorityyouth to explore careers and to takefield trips to business and industry. In1998, WCTC received a $10,000 grantfrom Cooper Power Systems to helpsupport this program.

Fifty-three boys and girls from juniorand senior high schools participated inthe 1998 Summer Tech Camp thatprovided them with career informationand hands-on experience in technicaloccupations.

Careers in AutomotiveReach forSuccess was offered by the WCTCWomen's Development Center for 29women interested in the automotiveindustry to learn basic automotiveconcepts, explore career opportunities.and acquire skills necessary to besuccessful in a nontraditional career.

14

Also, the Women's Development Centerhosted a Teen Single Parent Day for 51area high school students and twelveteachers attended "hands-on" sessions toevaluate careers available to themthrough education, met role models,and toured WCTC.

The Great Blue Heron Girls Scouts,the YWCA of Waukesha, the WestSuburban branch of the AmericanAssociation of University Women andthe WCTC Women's DevelopmentCenter presented "Expanding YourHorizons." One hundred and nine girlslooked at careers in the media. Twenty-one mothers viewed "Short ChangingGirlsShort Changing America" anddiscussed the importance of girlsdeveloping math skills.

Other significant accomplishments ofthe last five years included:

WCTC celebrated its 10th anniversaryof its QualityNalue Program in 1997.

WCTC cooperated with nine publicand private entities to open theWaukesha County Workforce Develop-ment Center that received the GFOA(Government Finance Officers Associa-tion) 1996 Louisville Award forInnovation in Government Finance.

In 1995, WCTC received one of thefirst annual Governor's DiamondAwards to recognize organizations thathave programs, practices and supportsystems to help women and minoritiesadvance to leadership roles.

In 1994, WCTC was awarded its firstAaa bond rating.

In 1993, WCTC was the first educa-tional entity in North America to receivethe GFOA Award for OutstandingAchievement in Popular AnnualFinancial Reporting.

BEST COPY AVAILABLE9

"Flexibility

and

innovation

require

people who

easily learn,

not people

who are

easily taught."

Rosabeth

Moss Kanter

10

Livac For 7R. 17,=aN

BRIEF HISTORY, PROFILE & MAP

For 75 years WCTC has been helping peopleacquire the knowledge and skills that will helpprepare them for a rewarding future. Vocational,technical, and adult education in Wisconsin beganas the first comprehensive statewide continuationschool system in the United States as a result ofstate legislation passed in 1911. WCTC is one of16 technical colleges in the Wisconsin TechnicalCollege System. The System was developed andcontinues to be sustained and improved by strongsupport from both labor and management inWisconsin. WCTC offers associate of appliedscience degree programs, technical diplomaprograms, advanced technical certificates.apprenticeship programs, and other adult educa-tion services. WCTC is accredited by the NorthCentral Association of Colleges and Schools: also,many occupational programs are professionallyaccredited.

Located in Pewaukee, Wisconsin, WCTC's maincampus is approximately 20 miles west of the Cityof Milwaukee and 60 miles east of the StateCapital in Madison. WCTC's boundary encom-passes approximately 600 square miles in thesoutheastern corner of the state, serving 99% ofWaukesha County, 9% of Jefferson County, 2% ofDodge County, 2% of Racine County, and the localmunicipalities (6 cities, 21 towns and 19 villages)located therein.

Dodge Co.

Jefferson Co.

Ozaukee Co

Waukesha Co.

Superior

Ashland

OCONOMOWOC

1

ARROWHEAD HAMILTON

MENOMONEEFALLS

Milwaukee Co

Mmo.Mme.rollsAuun tem.

PEWAUKEEELMBROOK

C.

KETTLE MORAINEWisconsinLuliandead

Rice Lake

wanilmaha Cameos

hl i col el Area

Minocqua

Rhinelander WAUKESHA NEW BERLINNenRichmond

PALMYRA

Mop'North Central

orthensWisconst

MarinMUKWONAGO MUSKEGO

Marshfield Sieve

Afid.SIaiWiscOnsi

RapidsWestern WisconsinLaCrosse Mauston

TomahViroqua

Waukesha Cofox Valley

Appleton

Oshkosh

Fond du LacBeaver Dam

RccetburgPortage

glad' on Arts

Madison

WalenownFon Atkinson

Southwest1Visconsin

Fennunore

Walworrh Co.

2hksasjkes:A

arise Co

Pe tee

aukesha

Elkhorn1atewav

,icee---NVaukesha

Racine

Kenosha

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WCTC's District is composed of the twelveschool districts represented on the map.

15


OPERATIONAL & FINANCIAL REVIEWS

WCTC employs a group of trainedprofessionals who provide guidance andassistance in conducting operationalreviews of our educational programsand services to determine how we aremeeting our customers' needs. Opera-tional reviews include program evalua-tions designed to ensure that ourcurriculum is closely linked to labormarket needs and service unit evalua-tions designed to ensure that ourservices are meeting customer needs.

Throughout the year, WCTC subcon-tracts with the certified public account-ing firm of Virniu SC to providefocused internal auditing servicesincluding operational and financialreviews of our business practices,financial records, internal controls andaccounting systems.

"Stewardship

begins with the

willingness to be

accountable...

Auditing's deeper

purpose is to

support steward-

ship responsibilities

at every level."

Peter Block

WCTC retains the independent publicaccounting firm of KPMG Peat MarwickLLP to review our accounting proce-dures and internal controls, to audit ourfinancial records, and to express anopinion on our comprehensive annualfinancial report (CAFR) which isprepared in accordance with generallyaccepted accounting principles (GAAP).Governmental financial reports, such asthis FACTS report, are evolving to

provide summarized financial informa-tion to citizens and other users thatsupplement an audited CAFR. OurFACTS report is prepared in a formatsimilar to consolidated financialstatements of private corporations andpresents aggregated financial condition(position) and financial activity (totalcosts and revenues) absent authoritativeGAAP guidance from the Governmen-tal Accounting Standards Board on thereport's format and content.

Peat Marwick LLP777 East Wisconsin AvenueMilwaukee, WI 53202

Independent Auditors' Report

Board MembersWaukesha County Technical College:

We have audited, in accordance with generally accepted auditing standards, the generalpurpose financial statements of Waukesha County Technical College as of and for theyear ended June 30, 1998 (not presented herein), and have issued our report thereon datedOctober 2, 1998.

As explained on Page I, the accompanying summary financial information (referredherein as FACTS) of Waukesha County Technical College, as of and for the year endedJune 30, 1998, is not a presentation in conformity with generally accepted accountingprinciples. In our opinion, however, the accompanying summary financial information isfairly stated, in all material respects, in relation to the general purpose financialstatements from which it has been derived.

Ki°/v16 Pe.)- 6.1_P

October 2, 1998

16 BEST COPY AVAILABLE

"Moody's has

assigned a

Aaa rating to

Waukesha

County Area

Technical

College . .. due

to the district's

wealthy and

diverse

economic base,

consistently

strong

financial

operations

and favorable

debt position."

Moody's

Investor Service

12


FINANCIAL CONDITION

WCTC remains financially sound. The facingpage provides a financial condition summarybased on assets and liabilities of all WCTC fundsand account groups. Not reflected in the assetamounts presented on the facing page is the factthat WCTC has an excellent team of employees(over 1,300) and Board members who provideservices to our community and who protect thevalue of the public investment in WCTC. Ourworkforce and our community are the realfoundation of WCTC's extremely sound financialcondition.

AssetsCash, investments, receivables and other currentassets are secure and available to finance thecurrent liabilities and operating costs of WCTC.

Fixed assets represent long-term investments inbuildings and equipment and are not generallyavailable to fund operating costs. Fixed assetsreflect historical costs without accumulateddepreciation for governmental assets. (Currentgovernmental accounting standards do not supportthe need for depreciation information normallypresented for private businesses.) Overall,WCTC's fixed assets are near the midpoint oftheir normal useful lives; and the replacement costof these fixed assets would be about 210% ofhistorical costs. However, WCTC's fixed assetsshould outlive their normal useful lives because ofour preventive maintenance programs.

LiabilitiesPayroll, compensated absences, retirement andpost-employment health insurance benefitsliabilities are commitments to current and pastWCTC employees. Liabilities for compensatedabsences, retirement plans and post-employmenthealth insurance benefits for retired employees arefunded by our current assets and by pension plansadministered by the State of Wisconsin. The long-term portion of these liabilities for active employ-ees will be funded primarily through futureoperational property tax levies. This year WCTCmade a lump-sum payment of $1,772,000 to theWisconsin Retirement System to retire an un-funded pension liability.

Within two months of fiscal year end, substantiallyall deferred revenues are earned and recognized asrevenue when outstanding property taxes (includedin assets - receivables) are collected.

Long-term notes (currently unfunded) will befunded through future property tax levies for debtservice.

Construction at the Pewaukee campus.

BEST COPY AVAILABLE

The Steele Farm-Soon to be the Pewaukeecampus.

17

Enriching Lives For 75 Years L.

CONDENSED BALANCE SHEET AS OF JUNE 30

(Amounts in Thousands)

Assets1998 1997

Cash & Investments $17,222 $17,817Property Tax & Other Receivables 8,918 8,566Other Current Assets 1,657 920Fixed Assets 34,344 32,670

Total Assets $62,141 $59,973

LiabilitiesAccrued Payroll & Other Accounts Payable $2,945 $2,173Compensated Absences 1,365 1,150Retirement Plans 1,772Post-Employment Health Insurance Benefits I 1,974 10,109Deferred Revenue 5,580 4,920Long-Term Notes 7,091 7,470

Total Liabilities $28,955 $27,594

Assets Less Liabilities $33,186 $32,379

Education is a high

leverage investment.

Educationgives

people leverage to

improve the future.

"Give me a lever long

enough . . . and

single-handed I can

move the world."

Archimedes

BEST COPY AVAILABLE

,",..,!",1%,

I3

"In this period of

heightened

accountability for

public service

providers,

WCTC's

FACTS report

establishes

an outstanding

model for

informing

citizens."

- Edward Chin,

State Director of

the Wisconsin

Technical College

System

14


FINANCIAL ACTIVITY

Ongoing efforts to limit operational cost increasesand to improve the effectiveness and efficiency ofservices have contributed to our sound financialcondition and our favorable outlook for the future.The facing page provides a financial activitiessummary of resources received and resourcesutilized (on an actual, not a budgetary basis) by allWCTC funds.

Resources ReceivedLocal property taxes continue to provide over60% of WCTC's total revenue.

WCTC is on a three-year planning cycle forcapital outlays for equipment that generally resultsin a major borrowing annually.

Resources UtilizedPrimary college operational costs (which arecentral to our mission) are accounted for inWCTC's General Fund. Lump-sum payments tothe Wisconsin Retirement System for unfundedpension liabilities of $1,772,000 in 1998 and$750,000 in 1997 are distributed throughout theprimary operational cost categories. Also,primary operational costs are increasing morerapidly than in prior years due to technologicalchanges and other efforts at WCTC to providemore varied course scheduling, advanced coursework, and distance learning opportunities forstudents and to upgrade our computer informationsystems and business processes for the year 2000and beyond. Year 2000 compliant administrativesoftware systems were implemented over the lastthree years, and WCTC plans on having thesesystems completed by June, 1999.

Costs related to federal and state-funded contractand grant activities are accounted for in WCTC'sSpecial Revenue Fund.

Capital outlays for fixed asset acquisition andcapital improvements are financed primarily bydebt proceeds which are repaid through debtservice property tax levies.

Enterprise expenses are generally paid for byrelated user charges, which are included in otherrevenues.

Trust fund expenses and other related revenues arcaccounted for in WCTC Trust Funds, which aresegregated for students and other groups.

Resources Received LessResources UtilizedConsistent with budgetary planning for 1998, theresources utilized in excess of resources receivedwere provided for by General and Debt ServiceFund Balances.

BEST COPY AVAILABLE13


CONDENSED STATEMENT OF RESOURCES RECEIVED

& UTILIZED FOR THE YEARS ENDED JUNE 30

(Amounts in Thousands)

1998 1997

Resources ReceivedRevenues:

Property Taxes $32,669 $31,076State. 6,087 5,863Federal 2,141 2,316Student Tuition & Fees 5,532 5,239Other 6,020 5,287

Total Revenues 52,449 49,781

Proceeds From Long-Term Debt 3,740 3,960

Total Resources Received $56,189 $53,741

. 4,1,3 t-t7

Resources UtilizedPrimary College Operational Costs:

Instructional $26,557 $23,553Instructional Support, & Student Services 4,656 4,074General Institutional 4,926 3,983Facility Services 3,482 3,111

39,621 34,721

Contract & Grant Related Costs 5,886 5,632Capital Outlays 4,100 3,821Debt Service 4,504 3,818Enterprise Expenses 2,106 2,055Trust Fund Costs 1,144 1,230

Total Resources Utilized $57,361 $51,277

Resources ReceivedLess Resources Utilized ($1,172) $2,464

20 BES

Pro pony

Other

Federal

Convacts ()rants

COPY AVAILABLE 15

"Our economic

well-being and

the continued

success of

capitalism

depend on

efficient and

effective

organizations

of all types."

- Charles Handy

16

v.rri r


PRIMARY COLLEGE OPERATIONS

Primary ongoing college operations (primarilyfunded by local property tax revenue) provide themajority of student and instructional services andare accounted for in WCTC's General Fund. Themajority of WCTC employees (over 1,000) areaccounted for in the General Fund.

General Fund Costs by ClassificationOf the $39.6 million of 1998 primary operationalcosts accounted for in WCTC's General Fund,only 18% was not spent for employee compensa-tion (salaries or fringe benefits) compared to 15%of the $34.7 million of the 1997 primary opera-tional costs. Therefore, total employee compensa-tion increased about 10% from $29.5 million in1997 to $32.5 million in 1998. Full and part-timefaculty salaries account for over half (about 55%)of the General Fund salary expenditures in 1998and 1997.

$13.9 Million

1998

[BM (OM MA iti1';''

$14.6 Million

1997

Salaries 1997

Salaries 1998

Fringe Benefits

Fringe Benefits

Other

Other

General Fund BalanceThe $13.9 million of 1998 General Fund Balance isprimarily reserved for post-employment benefitliabilities and provides operational working capitalthat eliminates the need for short-term borrowing.

2.1

Enriching Lives For 75 Years 15-;

wri..

UNEMPLOYMENT & PER CAPITA STATISTICS

Unemployment RateIn WCTC's taxing district, the unem-ployment rate was 2.7% in 1998. Theaverage rate was 2.9% for the last fiveyears with a high of 3.7% in 1994 and alow of 2.5% in 1996.

332.579

1994

337,949

1995

340,264

1996

344.207

1994 1995 1996 1997 1998

353,363

1997 1998

PopulationThe district population of353,363 in 1998 has grown2.7% over the last year and6.2% over the last five years.

t., -1.?gr:,1,771 141(',.7.772M,

Per Capita Statistics

Year WCTC WCTCNet Bonded Tax Levy

1994 $28 $801995 24 85

1996 18 89

1997 20 91

1998 20 92

Local Direct &Overlapping Debt

EqualizedProperty Valuation

$1,194 $52,4501,325 56,5371,578 61,3921,461 64,9941,797 67,525

22

John A. Arnold, Machine ShopInstructor.1924-1959

BEST COPY AVAOLABLE 17

"Taxpayers'

investments

in our

Wisconsin

Technical

College System

and specifically

Waukesha

County Technical

College

help make

Wisconsin a

great place

for our citizens

to live,

to work,

to learn and to

raise a family."

~Tommy

Thompson,

Governor of the

State of

Wisconsin

18

anricnina Lives For 75 Years

PROPERTY VALUES & TAXES

Billions

Equalized Property ValueThe equalized value for WCTC's property taxbase has increased over 36% over the last fiveyears from S17,443,707,000 in 1994 to$23,860,813,000 in 1998.

S25

$20

$15

$10

$5

$0

1994 1995 1996 1997 1998

.171,4,71-

WCTC5.2 cents

Local State.825.8

fziaczminzaszlTin-maggEp)smictinsitm willnukvq sr

.

Other school districts54.9

r-n:74.g=

County13.3

How the Property Tax Dollar WasSpent in 1998For every property tax dollar in WCTC's taxing.district, an average of 5.2 cents came to WCTC in1998 and 5.5 cents came to WCTC in 1997.

2 3

BEST COPY AVAILABLE


Property Tax Ratesper $1,000 of Equalized ValuationThe total tax rate was $1.36 in 1998, andthe live year average was $1.44. Theoperational rate was $1.21 in 1998, andthe five-year average was $1.29. Thedebt service rate was $.15 in 1998, andthe five-year average was $.15.

$1.50

$1.20

$0.90

$0.60

$0.30

Debt Service

1997

Operational

;airy..(mk-gwygq "`ZI:t41 4 r ,

WCTC's Property Tax on a$150,000 HomeThe property tax assessed by WCTC ona $150.000 home purchased inWaukesha County dropped by 2.3% in1998 to about $205 from $210 in 1997.

BEST COPY AVAILABLE

2419

"Effectiveness

is the foundation

for success

efficiency is a

minimum

condition for

survival after

success has

been achieved."

Peter Drucker

20


STUDENT INFORMATION

Adults from 25 to 45 years old are WCTC'sprimary target market. The average age of ourstudent body is over 35. Most students attendingour college do not graduate from our programsbecause they generally want to gain specificknowledge or need to learn specific skills foremployment which individual courses provide.Many employed individuals continue to take a fewcourses annually and may complete a program inover five years. WCTC has many part-timestudents. Less than one out of every 15 studentscarries more than 12 credits per semester.

Associate degree, advanced technical certificate,technical diploma, occupational continuingeducation and community service programming isoffered by WCTC. The number of contact hoursnecessary to generate one full-time equivalent(FTE) student varies between approximately 600student contact hours for associate degree programstudents to 1,200 contact hours for communityservice students. An FTE student is equivalent to30 credits per year based on a somewhat uniqueWisconsin Technical College System calculation.

,US041. IMMIX

Cost per Student Contact HourStudent contact hours result from the credit hoursfor which students pay tuition and are scheduledto attend class. Our "cost per student contacthour" is an efficiency measure that is superior tothe "cost per FTE student" because it factors outsignificant fluctuations in student FTEs due tocontact hour variation caused by student coursemix changes. In 1998, primary operational costsin our General Fund increased 14.1% whilestudent contact hours decreased .6% causing a

14.7% increase in our average cost per contacthoup. A major cause of our high cost per studentcontact hour is our low classroom teacher-studentratio of about 15 to 1 which is consistent betweenyears and within our Wisconsin Technical CollegeSystem. Significant technological changes. newdistance learning and nontraditional offerings, a$1.7 million lump-sum pension payment, fundingof post-employment benefits and non-contact hourgenerating services are factors that contributed toour high cost per contact hour increase in 1998.

1994 1995 1996 1997 1998Individual Students 33,759 32,046 35,009 34,802 35.189FTE Students 3,499 3,285 3,287 3,316 3,277Average Class Size 15.8 15.8 15.4 14.8 14.5Student Contact Hours 2,895.897 2,789,859 2,794,259 2,821,709 2.805.214Contact Hours/FTE Student 828 849 850 851 856Average Hours/Student 86 87 80 81 80Primary Operational Costs $29,136.000 $31,521,000 $33,738,000 $34,721,000 $39.621.000Cost/Student Contact Hour $10.06 $11.30 $12.07 $12.31 $14.12

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GRADUATE FOLLOW-UP

WCTC conducts comprehensive programgraduate follow-up surveys about 6months after graduation. Our 1997graduate statistics are the most recentstatistics currently available. The follow-ing graphs do not reflect students who takecourses but do not graduate from ourprograms.

Percent of Graduates Employed inRelated OccupationsThe percentage of graduates employed inpositions related to their WCTC educa-tional programs was at 80% in 1997 andaveraged 74% over the last five years.

ResidenceIn District

100%

75%

50%

25%

0%

..7747wctttii'""7".37,7';4717.7.77=:-

1993

Outside District

1994 1995 1996

EmploymentIn District

I997

Outside District

Average Monthly Salary forProgram GraduatesIn 1997, program graduates working inoccupationally-related positions wereearning an average salary of $2,195 permonth or $26,340 annually, which is1200 more than 1996 program graduatesearned.

1997

1996

1995

1994

1993

BEST COPY AVAILABLE

$2,195

51,956

51,944

SI ,813

S 1 ,671

26

Percent of Graduates in TaxingDistrictIn 1997. the percentage of graduatesresiding in WCTC's taxing district was79% compared to 76% for the prioryear: and the percent working in thedistrict was 55% compared to 5 I % in1996.

21


PLANNING PROCESS

Statutory Mission(Legal charge/identity)

Wisconsin Technical CollegeSystem Vision

"We need

leaders

who create

shared

visions that

motivate

and inspire

because they

are based on

enduring values

that will

serve society

well into

the future."

Rosabeth

Moss Kanter

Plans are worthless, but

planning is invaluable.

-:.Peter Drucker

WCTC Vision

Core Values/Principles(Beliefs)

Purpose(Reason for Being)

Target

Planning Assumptions

Ends Statements

Planning Guidelines

Operational Plans & Objectives(1-to-3 year plans at District, Division, Department.

and Individual levels)

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Evaluation of Results at All Levels

27

POPULAR REPORTING AWARD

The Government Finance OfficersAssociation (GFOA) of the UnitedStates and Canada has Oven an Awardfor Outstanding Achievement inPopular Annual Financial Reporting toWCTC for our 1997 FACTS report.This prestigious award recognizesconformance with the highest standardsfor preparation of state and localgovernmental popular reports. In orderto receive this award. a governmental

entity must publish a popular financialreport that conforms to GFOA programstandards of creativity. presentation.understandability and reader appeal. AnAward for Outstanding Achievement inPopular Annual Financial Reporting isvalid for a period of one year only. Webelieve this 1998 FACTS report contin-ues to conform to the Popular AnnualFinancial Reporting requirements, andwe are submitting it again to the GFOA.

Award forOutstanding

Achievement inPopular Annual

Financial Reporting

PRESENTED TO

WAUKESHA COUNTYTECHNICAL COLLEGE

For the fiscal year endingJune 30, 1997

A74,President

orr.Executive Director

28

In a world

economy,

WCTC will

continuously

improve its

services to meet

the technical

and vocational

training needs

of our students,

employers and

community.

BEST COPY AVAILABLE 23.

lVALIESHA COUNTY TECHNICAL COLLE GE

KNOWLEDGE

WORKING.

800 Malt? StreetPewaukee. WI 53072

WCTC's Vision

Non -ProfitU.S. Postage

Pewaukee, WI53071

Permit No. 72195

Waukesha County Technical College is the leader in workforce development for Waukesha County.

PurposeStudents will achieve occupational andpersonal success through lifelong learning atWCTC.

TargetAll of our students and other customers willstate that their experiences with WCTC werea wise use of their time and money.

Core Values and PrinciplesStudent and Other Customer Focus.People are central to our mission.People learn best when they learnhow to learn. We will meet orexceed student and other customer needs.

Continuous Improvement.Lifelong learning is the key to occu-pational and personal growth. Quali-ty is achieved through continuouspersonal and process improvements.

Personal Empowerment.People have the capacity to changeand to improve the quality of theirlives. People will be treated withdignity and respect. Empoweredpeople accept responsibility andstrive to do their best.

BEST COPY AVAILABLE

le.tabr.a

U.S. Department of EducationOffice of Educational Research and Improvement (OERI)

National Library of Education (NLE)Educational Resources Information Center (ERIC)

NOTICE

REPRODUCTION BASIS

ERIC

This document is covered by a signed "Reproduction Release(Blanket) form (on file within the ERIC system), encompassing allor classes of documents from its source organization and, therefore,does not require a "Specific Document" Release form.

This document is Federally-funded, or carries its own permission toreproduce, or is otherwise in the public domain and, therefore, maybe reproduced by ERIC without a signed Reproduction Release form(either "Specific Document" or "Blanket").

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