CCCC board has preliminary discussion on 2023 budget

A budget study session was a part of the Cloud County Community College board of trustees retreat on Wednesday at the college.
Also discussed by the board during the retreat, which lasted more than six hours, were the Kansas Board of Regents strategic plan, the college’s 2019-2024 strategic plan and the goals for the 2022-2023 academic year.
During the budget study session, the trustees were informed that the assessed property valuations, that will include revenue neutral rate (RNR), are scheduled to be provided to the college on June 15.
Once the information is provided, the budget proposal can be formalized.
Another board study session, in early to mid-July, may be required to finalize the budget plan.
The last date to notify the Cloud County Clerk of intent to levy above RNR is July 20.
RNR is the rate calculated to compare the prior year ad valorem tax to current year estimates.
The 2022 tax rate for the college was 29.256 mills. The trustees can’t approve a 2023 budget that levies more than the 29.256 RNR without holding a hearing and then passing a resolution to authorize the rate increase.
The RNR hearing must be held between August 20 and September 20. The hearing can be in conjunction with the budget hearing, but must occur prior to the adoption of the budget.
Internal factors for the 2023 budget stated that the college budgeted for 34,623 credit hours in 2022, but it is currently at 29,068 and that produces an estimated loss in revenue of $433,000.
The college had an increase in auxiliary revenue of $500,000.
Campus housing occupancy which is currently at 249, is expected to be back to 302 for the  fall semester of 2022. With the new housing rates, that is expected to generate an additional $180,000.
A 10 percent increased in assessed valuation would result in an additional $300,000 for the college.
Among the budget recommendations presented is one to stabilize enrollment to the pre-COVID numbers of 33,000 credit hours. That includes 16,000 in the fall, 15,000 in the spring and 2,000 in the summer.
It was reported that summer enrollment for 2022 increased 17 percent and an increase in the fall is expected.
As of the time the report was presented, fall 2022 enrollment was at 6,379 credits. There was a total of 13,337 credit hours for the fall semester of 2021.
Also during the retreat, the trustees reviewed the college’s 2019-2024 comprehensive strategic plan and were presented updates on the initiatives and goals established in that plan.
The board met in two executives sessions, totaling 30 minutes, for the purpose of negotiations. No action was taken.