Lake Land Trustees Place Tentative Budget on View

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Published on July 14 2015 11:19 am
Last Updated on July 14 2015 5:06 pm
Written by Greg Sapp

(LAKE LAND TRUSTEES ALSO HONORED ST. SEN. CHAPIN ROSE AT MONDAY'S MEETING FOR HIS LEGISLATIVE EFFORTS ON BEHALF OF HIGHER EDUCATION. FROM LEFT, LAKE LAND COLLEGE BOARD OF TRUSTEES CHAIRMAN GARY CADWELL, SEN. ROSE, AND LAKE LAND COLLEGE PRESIDENT JOSH BULLOCK)

Lake Land College trustees Monday placed the proposed budget for the coming fiscal year on display.

Lake Land President Josh Bullock said income projections account for a 4% decline in enrollment and assumes a 6.5% overall reduction in community college funding from the State. That leads to a proposed operating budget anticipating $38.1 million in income and $38.3 million in outgo. Expenditures are estimated to be 1.3% higher than the past fiscal year. The budget anticipates using $277,000 in reserve funds to cover the difference.

The projections will allow no full- or part-time staff reductions, employees not covered by a collective bargaining agreement will receive pay hikes to cover inflation, and faculty positions on hold during the past fiscal year are integrated back into the budget. The measure also includes $97,000 to fund strategies arising from the strategic planning process.

The budget will allow the college to freeze fees and tuition for the coming year.

A hearing on the proposed budget will take place August 18.