Glendale Community College officials expressed optimism about the college’s budget this week, saying the school is projected to bring in about a million dollars more in revenue than it did during the previous school year.
That figure, $78.4 million, comes short of the college’s 2010-11 revenue of $81.2 million, but slightly higher than the $74.5 million it largely operated on in 2011-12 and the $77.3 million last year.
This year marks the first in five that the state has provided the state community college system with a 1.57% cost of living funding increase, which represents a “sharp contrast,” to the state budget cuts the college has seen in previous years, said Ron Nakasone, executive vice president of administrative services for GCC.
“We were actually able to increase class offerings this year and brought back a full winter intersession,” Nakasone said.
Enabled with the additional revenue, college officials added about 220 more classes for 2013-14. The funding allowed officials to restore the college’s winter session, which administrators cut all together in 2012.
But the additional classes didn’t come without compromise. About 140 faculty employees will endure a 35% pay cut while teaching during the short sessions to save the college $340,000 annually.
Meanwhile, the college is stashing away 5.6% of its income, slightly above the 5% recommendation by state officials, Nakasone said this week.
The college’s local income is largely made up of property taxes. Officials expect about $21 million from these sources, but won’t collect on them until December or April.
More than $4 million in charges to students for non-resident tuition fees, library fines and enrollment fees have already been collected of the more than $7.6 million expected for the year.
In addition, Nakasone said the college expects to receive $37.4 million from the state in the form of scholarships and grants, which GCC then passes on to students.
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