News
2021-22 Budget Approved
September 9, 2021
The รศรรสำฦต Board of Governors has approved an operating budget for 2021-22, which includes a fourth straight decrease in the property tax levy for the 25 counties served by รศรรสำฦต.
The property tax levy was set at 9.1824 cents per $100 of assessed valuation, down from 9.2000 cents in 2020-21.
โรศรรสำฦต is proud to continue maximizing student and community success in our 25-county service area,โ said รศรรสำฦต Board of Governors Acting Chair Rita Skiles. โTo do this while reducing the tax levy, is a compliment to the collegeโs administration and employees.โ
The total tax supported budget for 2021-22 is $72,578,980, which is an increase of $809,722 from the 2020-21 budget.
โรศรรสำฦต is pleased to continue the important work of serving students throughout our 25-county service area in essential careers like agriculture, advanced manufacturing, criminal justice, nursing, information technology, and environmental health and safety,โ said รศรรสำฦต President Dr. Matt Gotschall. โOur elected board appreciates the additional state aid to help in reducing local property tax rates.โ
In addition to local property taxes, other revenues include state aid, tuition and other sources tied to bookstores and food services, which are affiliated with รศรรสำฦต.
Additionally, the college has budgeted $10,502,422 in the capital improvement fund, a $747,402 increase from 2020-21, and $2,091,088 in a fund for removal of hazardous materials and compliance with the Americans with Disabilities Act (HazMat/ADA), a $412,307 decrease from 2020-21. The HazMat/ADA and capital improvement funds are also supported entirely through property taxes from รศรรสำฦตโs 25-county service area.
Property taxes are based on property valuations for the 25 counties served by รศรรสำฦต, which reported an increase in total valuation of $830,828,830, or an increase of 1.53 percent.
Total budgeted disbursements and transfers for รศรรสำฦต in 2020-2021 will exceed $120 million.