CMC tax rate steady as spending will go up | PostIndependent.com
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CMC tax rate steady as spending will go up

Colorado Mountain College plans to increase spending by nearly $2 million in the next fiscal year, but the junior college district won’t need to raise taxes to get the gain.

The current 3.997 property tax mill levy stays the same for the $38.9 million general fund budget proposed for fiscal year 2002-03.

The first public hearing will be during the CMC Board of Trustees’ monthly meeting, held at 9:20 a.m. today at the CMC Aspen Campus art gallery.

The 2002-03 budget projects property tax revenues at $26.3 million, $1.2 million higher than the current $25.1 million.

In March, trustees approved an across-the-board tuition increase that ranged from $1 to $5 per credit hour, or on a percentage basis, 2 to 5 percent.

The coming year’s big-ticket item is a new $4 million to $6 million academic center in Edwards.

CMC spokesman Joe Marquez said the money will come from the college’s facilities reserve, which includes contributions of $2.5 million in the current year and next year.

Other budget increases

CMC

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include funds for three new full-time faculty members, computer upgrades in student labs, new staff to operate a new software system, and a network infrastructure upgrade.

Student numbers, expressed as full-time equivalents, are expected to drop 11 percent. The drop comes for two main reasons, Marquez said.

First, the state stopped funding an educational program for inmates at the Rifle Correctional Facility and a similar facility in Chaffee County. Second, the college has stopped giving course credit for some classes, such as some physical activities.

Enrollment in English as a second language classes is expected to climb.

The college plans to offer 26 new programs or courses of study in 2002-03 and 2003-04, including American West studies, commercial driver’s license, construction technology, engineering, golf and turf management, journalism, leisure studies, resort management, software development and women’s studies.

Local property taxes are providing an increasingly higher share of CMC’s revenues. For the coming fiscal year, local taxes are expected to be 66 percent of revenues, followed by 18 percent from tuition and fees and 16 percent from state reimbursements.

In comparison, for the year 1999-2000, local taxes provided 53 percent of the budget, with 23 percent from tuition and fees, 23 percent from state reimbursements, and 1 percent from other.

Property tax revenues have increased steadily for Colorado Mountain College since 1998-1999, despite a constant 3.997 mill levy for all four years, according to the draft budget.

In 1998-99, revenues generated from property taxes were $14.3 million, followed by $15.3 million in 1999-2000, $20.1 million in 2000-01, and $25.1 million in 2001-02.

Projected tax revenues to fund the 2002-03 school year are $26.3 million.

A county-by-county comparison shows Eagle County property tax revenues were approximately 31 percent of the total, followed by Pitkin County at 28 percent, Summit County at 18 percent, Garfield County at 12 percent, Routt County at 8 percent and Lake County with 1 percent.

Colorado Mountain College’s proposed budget is available for inspection at the college’s main office in Glenwood Springs.

Trustees expect to approve the budget at their monthly meeting on June 7.

include funds for three new full-time faculty members, computer upgrades in student labs, new staff to operate a new software system, and a network infrastructure upgrade.

Student numbers, expressed as full-time equivalents, are expected to drop 11 percent. The drop comes for two main reasons, Marquez said.

First, the state stopped funding an educational program for inmates at the Rifle Correctional Facility and a similar facility in Chaffee County. Second, the college has stopped giving course credit for some classes, such as some physical activities.

Enrollment in English as a second language classes is expected to climb.

The college plans to offer 26 new programs or courses of study in 2002-03 and 2003-04, including American West studies, commercial driver’s license, construction technology, engineering, golf and turf management, journalism, leisure studies, resort management, software development and women’s studies.

Local property taxes are providing an increasingly higher share of CMC’s revenues. For the coming fiscal year, local taxes are expected to be 66 percent of revenues, followed by 18 percent from tuition and fees and 16 percent from state reimbursements.

In comparison, for the year 1999-2000, local taxes provided 53 percent of the budget, with 23 percent from tuition and fees, 23 percent from state reimbursements, and 1 percent from other.

Property tax revenues have increased steadily for Colorado Mountain College since 1998-1999, despite a constant 3.997 mill levy for all four years, according to the draft budget.

In 1998-99, revenues generated from property taxes were $14.3 million, followed by $15.3 million in 1999-2000, $20.1 million in 2000-01, and $25.1 million in 2001-02.

Projected tax revenues to fund the 2002-03 school year are $26.3 million.

A county-by-county comparison shows Eagle County property tax revenues were approximately 31 percent of the total, followed by Pitkin County at 28 percent, Summit County at 18 percent, Garfield County at 12 percent, Routt County at 8 percent and Lake County with 1 percent.

Colorado Mountain College’s proposed budget is available for inspection at the college’s main office in Glenwood Springs.

Trustees expect to approve the budget at their monthly meeting on June 7.


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