Southwestern Community College has proposed its budget for fiscal year 2015, July 1, 2014, to June 30, 2015.
A public hearing for the proposed budget is set 5:30 p.m. Tuesday at the college’s administration building, during the college’s regularly scheduled board of directors meeting.
The FY2015 tax levy is 79.6 cents, slightly less than this year’s levy.
The estimated taxes levied on property in the FY2015 SWCC budget would be $2.18 million. This is an increase of approximately $50,000 from the current year’s budget of $2.13 million.
SWCC is the fifth-highest taxing entity in Union County. The highest is Creston School District, followed by the city, county and Greater Regional Medical Center.
There is an increase of $2,062,374 in other resources for the FY2015 budget.
“That’s the line item that we use to estimate if we have nay issuances or any projects. I just increased it because we can’t go over our budget,” said SWCC Chief Financial Officer Teresa Krejci. “It (also) allows for unknowns.”
SWCC Board of Directors is holding a separate hearing during their regularly scheduled meeting Tuesday concerning a $4 million increase in the current fiscal year’s budget.
“I had already put some money in the for the new residence hall,” said Krejci. “But, that wasn’t enough money to cover the residence hall and ACE (accelerated career education) project.”
The ACE project was the refurbishment of the 100 hallway in the instructional center.