Mateusz Janik
NORMAL -- Heartland Community College's operating budget for fiscal 2025 of almost $44.76 million is more than 10% higher than last year's with officials citing higher salaries and increases in other expenses.
The college's board of trustees voted Tuesday for the budget, which is $5.3 million higher than last year's and more than $3 million more than the tentative version presented in June. The district has the revenue to balance the spending plan for the fiscal year that began July 1, however, officials told the board.
Expenses are expected to increase due to salary raises, the state minimum wage increase, departmental costs, scholarships and waivers, reduced enrollment and inflation in the costs of supplies and other inputs, Heartland officials said previously.
The budget proposal earlier this summer assumed an 11% increase in total taxable property values and a 2% increase in base state funding as well as an increase in the state's equalization grant. The state distributes equalization grants to counter disparities in property tax bases among the state's community college districts.
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Noah Lamb, vice president of finance and administration, did note Tuesday the budget reflects a decrease of about $300,000 in revenue from tuition and fees, which he said was a conservative response to a small decline in fall 2024 enrollment and credit hours.
The board had previously approved a $2 per-credit-hour increase in tuition and a $1 per-credit-hour increase in student fees for 2024-25.
"You can see with tuition and fees where we decided to be a little cautious on that side and we decided to take off just a little more from that $15.9 (million) to $15.6 (million)," Lamb said. "Again, as we had just a very, very minor decline for fall 2024 in our credit hours (and) we want to be cautious on that revenue stream."
The operating budget covers the college's day-to-day expenses. It includes the education fund, which covers items like faculty salaries and learning equipment, and the unrestricted operations and maintenance fund, which covers the physical needs on campus. Other funds cover items such as insurance, bond and interest payments, and annual audits.
Of the education and operations and maintenance funds, about 74%, or $33 million, comes from local property taxes and tuition and fees. Other revenue sources are expected to bring in $2.5 million, and there is an anticipated $3.6 million transfer into the operations and maintenance fund from a previous surplus as well as $5.4 million in state support.
Lamb said that there is no update on the equity tax because the college is awaiting a letter from the state expected sometime this month. The college earlier this summer projected about $3 million from the equity tax, which the state allows Heartland to levy in order to bring it in line with other community college districts throughout the state.
Lamb added the college is currently working through its 2024 annual audit and will present an update at the board's October meeting before presenting a final version in November.
In other news, the board approved working with Northern Illinois University's Center for Governmental Studies for facilitating an update to Heartland's 10-year strategic plan at a cost not to exceed $60,000.
Steve Fast, assistant to the president and public information and communication director, said community colleges are required to submit a new strategic plan every 10 years.
As part of a multiyear process, the college will start to pull together a committee to work on the plan, which will have to be submitted to the board for approval at a later date, Fast added.
The next board of trustees meeting will be at 6 p.m. Oct. 15 at the college's Lincoln campus.
Photos: Normal Community High School held the first homecoming parade since 2013
Contact Mateusz Janik at (309) 820-3234. Follow Mateusz on Twitter:@mjanik99
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