Trustees Approve $19.8 Million Balanced Budget

The East Central College Board of Trustees approved a $19.8 million spending plan, that includes a boost in salaries for employees.

The 2022 fiscal year balanced budget projects $19,813,874 in both revenue and expenditures. The college’s fiscal year runs from July 1 through June 30. The budget was approved Monday, June 14.

In the 2021 fiscal year, there was $19,457,624 in actual revenue to date, and $16,054,046 in expenditures.

Included in the budget is a 4 percent increase in employee compensation, an area that the college has strived to increase, according to ECC President Dr. Jon Bauer.

“I think this puts us on the right path, but it doesn’t get us to the finish line,” Dr. Bauer said.

There is an anticipated increase in state and local revenue, as well as tuition and fees.

Dr. Bauer noted that the there is an increase in enrollment, so far, for the Fall 2021 semester.

Anticipated revenue for tuition and fees this fiscal year is $6,334,616, an increase of $765,550 over last year’s budgeted tuition and fees revenue of $5,569,066.

“We are seeing strong enrollment growth for the fall cycle,” Dr. Bauer added. “This is still a little bit of a tricky budget year, and we are only halfway into the enrollment cycle.”

Locally, budgeted revenue is expected to increase $534,234 from the previous budgeted amount of $6,977,522 last year to $7,511,756.

State aid is projected to increase to $5,236,024 from the previously budgeted amount of $4,603,701, a total increase of $632,323.

Technology Purchase

Trustees also approved the purchase of 306 personal computers (PCs) and monitors from the state negotiated Dell purchasing contract at a cost of $206,703 that will be funded using technology fees.

“This will replace a generation of computers on campus by the start of the fall semester,” Dr. Bauer said.