Tompkins Cortland Community College Trustees Adopt $38.3 Million Budget
June 20, 2013
The Tompkins Cortland Community College Board of Trustees has adopted a $38,307,435 budget for the 2013-14 fiscal year, which begins September 1, 2013. The budget includes a 3.6 percent increase in full-time tuition (from $4,150 to $4,300 per year) and a 3 percent increase in part-time tuition (from $147 per credit to $152 per credit). The budget includes an increase of 3 percent in total taxpayer dollars provided by Tompkins and Cortland counties.
Highlights of the budget include:
• The $38.3 million budget is 2.2 percent higher than the approved budget for 2012-13. The major factors contributing to the increase are enrollment growth in certain programs, health care and retirement systems costs, and equipment needs. The budget includes no changes to staff levels.
• Projected enrollment for 2013-14 is 3,968.2 FTEs, an increase of approximately 1.5 percent over the projected enrollment for 2011-12.
• The cost of employee benefits continues to go up for the College. Employee health insurance rates are projected to increase 9.5 percent. The state retirement systems rates are projected to increase 10 percent.
• The budget includes a 3.6 percent increase in full-time tuition, from $4,150 per year to $4,300 per year. It’s the smallest full-time tuition increase (percentage) since 2008. Part-time tuition will increase 2.7 percent from $147 per credit to $151 per credit. Overall, the College projects revenue from tuition and fees will be more than $19.5 million, an increase of 3.19 percent.
• The budget includes an increase of 3 percent in contributions from Tompkins and Cortland counties. Despite the increase, the percentage of the total budget funded by the sponsor counties will still decrease, down to 11.78 percent from 11.95 percent last year. Tompkins’ share is $2,788,652, while Cortland’s is $1,637,736. Each county’s share is determined based on a three-year average enrollment ratio.
• The budget projects state aid to community colleges of $2,422 per FTE, a 6.6 percent increase in the rate from the 2012-13 budget, but still a 9.5 percent decrease from the state aid rate in fall 2009. Total state aid revenue is projected at more than $9.9 million, an increase of more than $460,000.
Tompkins and Cortland counties and the State University of New York Board of Trustees must approve the budget. The Cortland County Legislature is expected to act on the spending plan at its June 27 meeting. The Tompkins County Legislature is scheduled to vote July 2. The State University Board of Trustees will act on the budget in September.