CMC board approves budget, expects to increase mill levy
The Colorado Mountain College Board of Trustees this week unanimously approved the budget for the next fiscal year that ends in 2020, at a meeting held in Glenwood Springs.
The balanced general fund budget includes an overall increase in operating expenses of 3.5 percent, in line with annual inflation, and $74,297,009 in revenue.
The budget is based on an assumption that the board will exercise its authority, granted by voters on ballot issue 7D last November, to increase the mill levy from 3.997 to 4.013.
The general fund revenue for the college is $5.2 million higher than the 2018-19 fiscal year mainly due to the property tax valuations.
Revenue from the state is expected to increase 13 percent.
The board voted in January to keep tuition rates flat for the next school year.
Also at the meeting, trustees unanimously approved:
• Ongoing contracts for food service at residence halls, computer replacements, HVAC service and preventative maintenance, student textbook providers, insurance broker, software and data systems, and upgrading of “smart” classrooms
• Contract for Bear Park Phase II on the Steamboat Springs campus, which includes site work, grading, installation of a driveway, ADA parking, and construction of a storage and restroom facility
• Fiscal year 2018-19 supplemental budget appropriations, consisting of carrying forward to the next fiscal year an additional $10,000 in student government funds and $500,000 in financial aid and scholarship funds
• Facilities master plan contract
• Document retention policy
• President’s goals and work plan for fiscal year 2019-20, tied to the college’s strategic plan.
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