CCC Board Approves a Decrease for the 2018-19 Budget
September 13, 2018
The Central Community College Board of Governors has approved a $72,587,911 budget for 2018-19, which includes:
- $57,524,948 in the operating budget, a $7,613 decrease from 2017-18.
- $10,954,882 in the capital improvement fund, a $64,541 decrease from 2017-18.
- $4,108,081 in the fund for removal of hazardous materials and compliance with the Americans with disabilities Act (HazMat/ADA), a $24,202 decrease from 2017-18.
The HazMat/ADA and capital improvement funds are supported entirely through property taxes from CCC’s 25-county service area.
Revenue for the operating budget is estimated to come from the following revenue sources:
- Property tax, $37,871,510, down $64,541 from 2017-18.
- State aid, $9,264,576, down $312,331 from 2017-18.
- Tuition, $9,988,862, down $392,672 from 2017-18.
- Other sources of revenue will provide $400,000.
Total property tax, which includes the county treasury collection tax, for the three funds is $53,085,102 as compared with $52,477,342 in 2017-18. The property tax levy for the three funds combined was set at 9.5956 cents per $100 of assessed valuation, up from 9.4302 cents in 2017-18.
Property taxes are based on property valuations for the 25 counties served by CCC, which reported a decrease in total valuation of $325,929,749.
To view a video of the board meeting and the budget hearing, go to www.cccneb.edu/boardmeeting.