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RSSRichland officials say college is well-positioned to meet state's financial challenges
DECATUR - The political turmoil in Springfield and the money woes that have plagued state government are reaching higher education.
At Richland Community College's Board of Trustees meeting Tuesday, President Gayle Saunders told the trustees that the state has informed colleges and universities that they should hold in reserve 2.5 percent of their expected state revenues this fiscal year, in case the state cannot pay them.
The state already had reduced expected revenues last summer, which meant Richland lost $150,000 from its budget before the current fiscal year began in July.
Vice President of Finance Greg Florian said it's fortunate that Richland doesn't depend as heavily on state funding as some other institutions because it's likely that 2.5 percent of state money won't materialize.
"We have a large tax base," he said. "We get 38 percent of our revenue from taxes, which gives us local control and more stable funding."
The good news, he said, is Richland has plenty of money in the bank and could cover expenses without state funds if necessary. By the end of the fiscal year in June, the college might have to tap those funds, he said, because the state already is $4 billion behind in paying its bills, and as of two weeks ago, the state comptroller's office was just beginning to pay bills that came due in August.
"This will affect how we look at next year's budget," he said. "The (Illinois Community College Board) intends to ask for a budget increase next year, but the governor's budget office has already told us to come in with decreases."
In other business, the board approved a tax levy of 39.27 cents per $100 of equalized assessed valuation, an increase of 4.89 percent over the previous year.
Florian also reported on current construction projects. Replacement of the carpet in the hallways and common areas of the college has begun and should be finished before classes reconvene in January.
Work on the Center for Sustainability and Innovation, a joint-use facility with the University of Illinois Extension, though slowed by bad weather, continues to progress and should be enclosed within the next few weeks. The college has put out bids for the wind turbine for that building, but Florian said contractors are hesitant to bid for only one turbine.
Trustee Randy Prince asked why the college couldn't have more than one turbine, and Florian said it was because the college can't afford it.
Three turbines constitute a "wind farm," Saunders said, but at a cost of $600,000 per turbine, the college will have to be content with one.
The culinary arts center is finished except for a few finishing touches, and a ribbon-cutting ceremony is planned for 5:30 p.m. Jan. 28.
vwells@herald-review.com|421-7982
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