Barton Community College officials plan to publish a 2018-2019 budget that keeps the mill levy the same as last year, according to information from Vice President of Administration Mark Dean.
“The (proposed) published budget keeps the mill levy the same as last year and the request for tax dollars is approximately $263,604 more than last year’s request,” college trustees were told at a study session on July 10. The estimated tax rate is again 33.219 mills and the increase in tax dollars is due to increased valuations on oil and real estate, based on the valuation numbers provided by the county on June 21.
The estimated tax rate is subject to slight change depending on the final assessed valuation.
When the BCC Board of Trustees meets at 4 p.m. Tuesday, this is the proposed budget it is expected approve for publication. The board will also schedule a public budget hearing for 4 p.m. on Aug. 14 in room F-30 of the Fine Arts Building on campus.
College officials note that the tax rate has varied by less than 1 mill for the past 10 years, with a low of 32.6 in 2008 to a high just under 33.5 in 2007.
The amount of 2018 tax to be levied is $8,847,310, compared to $8,583,706 in 2017 and $8,083,163 in 2016.
College trustees also reviewed the Operational Budget for Fiscal Year 2019 at the July 10 meeting and are expected to act on that budget this Tuesday as well. Three options have been recommended.
According to information presented to trustees, under Option A the budget decreases revenue by $33,585 and increases expenditures by $20,676 over last year’s operational budget. The budget was developed assuming flat enrollment for Fiscal Year 2019.
Trustees were advised that the college ended Fiscal Year 2018 by using $103,676 from its cash reserves. This was due to a reduction in tuition and fees collected, increased accounts receivable, and a decrease in tax revenue that was actually collected.
However, the ending balance of cash reserves as a percentage of cash within the general fund ended up at 51.6 percent.
One of the biggest changes in next year’s budget is that revenue from tuition and fees is estimated at $13,474,000, which is $308,317 less than the previous year. This is not due to a change in credit hours, but to an increase in scholarship offerings. The next budget also increases the budget for wages by at least 2.5 percent ($420,000) under Option A. Other increases include $200,000 for information technology, $150,000 for restroom renovations; $120,000 for increased online advertising; and $90,000 more for academics. Option B is based on a 3.5 percent increase and Option C is based on a 4.5 percent increase.