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Sinclair uses rainy fund to fill budget gap
The Sinclair Community College Board of Trustees approved a $126 million budget for the coming fiscal year that uses 22 percent of the college’s rainy day fund to help make up the loss of state and local funding.
The spending plan is 1.3 percent more than the current fiscal year and drains $2.2 million from the $10 million rainy day account while providing “modest” raises to faculty and staff, according to college budget documents.
Trustee Lawrence Harkness said the college had put aside the money to deal with budget cuts like the projected $6.4 million loss of state subsidies and collections from the Montgomery County property tax.
“It certainly has rained on the state’s educational institutions,” he said.
Sinclair officials are waiting to see if the next biennium state budget Gov. John Kasich is expected to sign this week will include a change to the current 3.5 percent tuition cap that would allow Sinclair and other less costly community colleges to raise tuition $200 per full-time student.
The $200 limit is part of the lawmakers’ version of the budget bill and would mean Montgomery County students would likely pay $2,504 beginning winter quarter 2012. The increase would bring Sinclair another $3.5 million in tuition revenue, college officials said. Without it, total revenue is expected to fall $2.3 million or 1.7 percent next fiscal year.
Despite the funding losses trustees also approved a plan that could give faculty and staff 1 percent base salary increases next year as well as eligibility for one-time bonuses and merit pay. Raises and other pay are expected to cost the college $1.2 million, college budget records show.
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Comments
By Dave
June 30, 2011 11:10 AM | Link to this
Of course, they COULD just cut back some of the VP’s and deans who don’t teach and never interact with students in any way, shape, or form. But what am I saying? This is Sinclair. They couldn’t do THAT!
By ohiodale
June 29, 2011 9:15 PM | Link to this
Good for Sinclair. Why can not our federal government save money when times are good. Our governments spends every dime plus more and than crys for higher taxes in bad times (like now).