College budget decreases again

Sep. 17, 2013 @ 09:50 PM

At Monday night’s meeting, the Vance-Granville Community College Board of Trustee’s voted to approve the 2013-2014 budget resolution that is $3.7 million less than last year’s total allocation for the operating budget and capital improvements.

Steven Graham, vice president of finance and operations, presented the 2013-2014 budget resolution and summary of expenditures. He said the budget is broken into two main categories: current operating and capital improvement projects.

“We do receive state, county and institutional funding for both areas,” Graham said Monday.

The total budget for the 2013-2014 fiscal year is $40.8 million compared to last year’s total combined amended budget of $44.5 million. The college’s 2013-2014 operating budget totals $39,275,340, and the capital improvement fund totals $1,494,557.

The capital improvement projects report, presented by building committee chairman John Foster, includes renovations for the main, South and corporate campuses.

The remaining budget for main campus repairs totals $104,734, remaining South campus repairs totals $26,293, and remaining corporate campus repairs is $70,310.

Last year’s amended operating budget was $43.5 million and the amended capital improvement budget was $988,141.

The combined budget has fallen 12 percent since the 2011-2012 fiscal year, when the budget totaled $46.6 million.

The amended 2011-2012 operating budget was $45 million and the amended 2011-2012 capital improvement budget was $1.4 million.

Graham said the decrease is associated with a decline by about 172 full-time equivalents, a measure by which the college receives state funding.

“The budget FTE is one of your main drivers and one of your main mechanisms that are used in providing your formula allotments on the state level,” Graham said.

Graham said the new allocation formula to determine state funding will now be based on the past two years, instead of the past three years.

A joint meeting with the Vance-Granville trustees and the commissioners of Franklin County will be held on Nov. 18, 2013.

Other budget highlights included:

• No across the board salary increases from the N.C. General Assembly.

• Employer health insurance contribution rate increases 3.23 percent.

• Employer health insurance contribution rate increases $93 per employee.

• Management flexibility reduction cost is $1.3 million, down from $1.5 million last year, which are mandated cuts by the General Assembly.

In other business Monday, the trustees were informed Laura Peace, coordinator of the occupational extension computer center, will retire effective Sept. 30 after 15 years with the college; Lydia Powell, department chair for social sciences, will retire effective Sept. 30 after 31 years with the college; and Gene Purvis, dean of student development, retired effective Aug. 31 after 22 years with the college.

Michele Eaves Burgess was sworn in as a new member of the board for a four-year term ending in 2017.

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