OGLESBY — Illinois Valley Community College’s administration will present a balanced operating budget at its Thursday, July 11, board meeting, the board’s audit-finance committee learned at its June 24 meeting.
The committee got the first look at the tentative 2020 budget.
“We’ve kept costs in line with enrollments while looking for new programs and investing in facility upgrades,” said Vice President for Business Services and Finance Cheryl Roelfsema in a news release.
The college is hopeful the recent hiring of five new faculty will rejuvenate existing programs and bolster enrollments, according to the release.
At its June 13 meeting, the board approved appointments in welding, industrial maintenance, agriculture and nursing. An automotive instructor was approved in May. Facility upgrades include a storage and routine maintenance building for the ag program.
Operating budget revenues and expenditures are balanced at approximately $22.3 million. Revenues increased less than 1 percent, and expenditures decreased slightly less than 1 percent over the Fiscal Year 2019 budget.
Total budget revenues are about $32.1 million, a 1.4 percent increase, and expenditures are $32.3 million, a decrease of 6 percent from the FY19 budget. The $220,000 deficit is in the tort and auxiliary enterprises funds and is covered with existing fund balances in those funds.
The full board will review the budget at 6:30 p.m. July 11.
Audit-finance also reviewed the Information Technology Services strategic plans for 2019-21 that include a website redesign expected to be launched later this summer and upgrades of room scheduling and student planning software.
The committee also learned 928 high school students enrolled in IVCC dual credit courses in 2018-19 generated nearly 6,000 credit hours, or about 10 percent of IVCC’s total enrollment.
A total of 131 students paid only the $5 registration fee thanks to IVCC’s tuition waiver for Free and Reduced Lunch-eligible students. All other dual credit students receive a 25 percent tuition discount.