VALIC/AIG rep on campus Sept. 15

QRcode to my.VALIC.com/seminarsDavid Jones, certified financial planner with VALIC/AIG Retirement, will be on campus Wednesday, Sept. 15 from 10:30 a.m. to 1:30 p.m. in the VP Conference Room of Menard Hall. To schedule a 30-minute appointment for an account review and to provide information about your options and new enrollments, go to my.VALIC.com/seminars and enter registration code 6303SPR11AB.

VALIC/AIG rep on campus Sept. 15

QRcode to my.VALIC.com/seminarsDavid Jones, certified financial planner with VALIC/AIG Retirement, will be on campus Wednesday, Sept. 15 from 10:30 a.m. to 1:30 p.m. in the VP Conference Room of Menard Hall. To schedule a 30-minute appointment for an account review and to provide information about your options and new enrollments, go to my.VALIC.com/seminars and enter registration code 6303SPR11AB.

AIG retirement savings plans

Information request form: https://my.valic.com/prospectentry/prospectentry.aspx?source=637&agentCode=06303David Jones is a certified financial planner with AIG Retirement. They are a provider of 403b and 457b retirement savings plans available to LLCC employees. David is available to review your accounts, make changes or enroll new participants who are ready to start saving for retirement.

He can be reached by cell phone at 217-653-9171 or by email at David.jones@aig.com. He can also conduct one-on-one or group Webex meetings to be accessed through email invitation. One-on-one, face-to-face meetings can also be scheduled at a location of your choosing. Contact David with any questions or to schedule an appointment.

FY22 planning and budgeting documents on SharePoint

FY22 planning and budgeting recap documents have been posted to the LLCC Finance Department’s SharePoint site. Please take time to familiarize yourself with the documents, which are sorted by requester’s name. Also watch for emails over the next few weeks if you have requested funding from tech fee, small projects and/or FFE. We will be reaching out to individuals to begin the purchasing process and will provide purchasing directions and necessary account numbers.

At this time, Perkins Grant funding is pending receipt of a fully executed grant agreement. Once funding is secured, individuals will receive emails with purchasing instructions and account numbers.

2022 Tentative Budget now available

The 2022 Tentative Budget is now available in Colleague for viewing. Requisitions for purchases and blankets can now be entered. The Tentative Budget will be placed on public display at the July Board Meeting. A balanced budget will be presented as required by the LLCC Board of Directors.

Some things to know about this year’s budget:

  • FY22 budget includes Board approved increases in salary and benefit allocations. HR will send notification to staff regarding current approved salary increases.
  • The State of Illinois approved a budget for FY 2022 which includes an appropriation to community colleges.
  • The final documents from the FY22 Planning & Budgeting Process, including approved Tech Fee & Perkins appropriations will be available at a later date. We will send a separate notice when they are posted.
  • Additional adjustments may be necessary between now and the adoption of the final budget at the September Board Meeting.
  • Budget transfers will not be processed until the final budget is approved by the Board and those adjustments are made in Colleague. However, if you do not have the necessary funds in your lines to process a payment or PO, a budget transfer must still be prepared and submitted to the budget office. Once the transfer is received and reviewed, we will override the account and will process the transfer once the final budget is online.

It is imperative that departments review their budgets during the year as you make purchases to ensure you are operating within your budget. Directions on running Colleague general ledger reports (ACBL, GLBR, and GLBS) are located on the LLCC Finance SharePoint page. Please familiarize yourself with these reports as they will help tremendously in managing your budget appropriately. If you have any questions or problems, please feel free to contact LLCC Finance.

Note from finance department

All blanket purchase orders that were created for FY21 are now closed.

If you receive any invoices for FY21, please submit payment on a confirmed/received form before the cut-off date of July 15, 2021.

LLCC Accounts Payable must have all documentation and all approvals by the cut-off date.

New supplemental defined contribution plan

The State Universities Retirement System (SURS) is excited to announce a new supplemental defined contribution plan that will be available to Lincoln Land Community College employees beginning June 1, 2021. Employees may enroll beginning June 1, 2021. Your first contribution will be from the July 15, 2021 paycheck.

This new voluntary plan, called the SURS Deferred Compensation Plan (DCP), will provide members an avenue to save more and generate additional income in retirement. Most active SURS members employed by a state university, community college or other government entity will be able to participate.

If you are eligible to participate in this new plan you will receive an email and a postcard directly from SURS with more information and instructions on how to enroll very soon.

Voya Financial is the recordkeeper for SURS DCP. See the below link for plan and investment information.

Welcome To The SURS Deferred Compensation Plan

LLCC honored for excellence in financial reporting

ASBO Certificate of Excellence in Financial Reporting Recipient FY2020The Association of School Business Officials International has awarded LLCC the Certificate of Excellence in Financial Reporting for the 20th year in a row. The award recognizes educational entities that have met the program’s high standards for financial reporting and transparency. The college earned the Certificate of Excellence for its Comprehensive Annual Financial Report for fiscal year 2020.