POSTED: Tuesday, August 14, 2012 - 12:00pm
UPDATED: Tuesday, August 14, 2012 - 12:14pm
Kilgore, TX — Trustees at Kilgore College approved a $54.5 million spending plan for the coming school year Monday and proposed a tax rate to partially fund it.
Taxpayers can weigh in on the 15.4 cent tax rate during public hearings the board set for noon Aug. 24 and 6 p.m. Aug. 30. The rate, which is unchanged from this year’s level, is scheduled for adoption at 6:30 p.m. on Sept. 10.
The $54.5 million budget includes more than $14 million that must be spent in specific areas, led by $11.6 million in student financial aid.
The remaining $40 million will fund administration, instruction, auxiliary areas such as athletics and campus food services, and maintain buildings and infrastructure.
The plan also maintains a roughly $9 million reserve balance, said Finance Director Duane McNaney.
College President Bill Holda cautioned trustees of areas that will remain unknowns when the fiscal year begins Sept. 1.
The first potential hit could occur if early enrollment numbers prove accurate. Holda said early estimates have the student body 5.8 percent smaller than this past year year, which could mean a $250,000 loss.
Read more from the Longview News-Journal.