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While enrollment has remained steady, Northwest College received extra funding from the state and is expecting a roughly 20% boost in funding from the local mill levy due to rising property …
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While enrollment has remained steady, Northwest College received extra funding from the state and is expecting a roughly 20% boost in funding from the local mill levy due to rising property evaluations and increased mineral industry production.
A lot of the that is offsetting some rising inflationary costs in what is, NWC President Lisa Watson noted, a relatively flat and conservative budget.
The NWC board passed the fiscal year 2023-2024 budget as proposed July 10 on second reading following a public hearing in regards to the board extending its optional 1 mill levy. The college also receives a standard 4 mills. Together, the 5 mills are expected to raise roughly $5.1 million.
Watson noted that every community college in the state has approved the fifth mill for decades and continues to do so, aside from newly formed Gillette College which she said is still working on its organization and works under a different funding model.
In summary, the college is set to spend $30,846,014 in current funds and $21,744,263 in plant funds.
In the proposed budget report, Watson said student enrollment has remained steady but future projections are unclear.
"Future enrollment projections continue to be clouded, both nationwide and internationally, by uncertain student interest levels, low unemployment rates, and economic uncertainty," she wrote.
Auxiliary revenue has been budgeted relatively flat for FY 2024. Residence halls saw an increase in utilization for FY2023 and budgets have been adjusted to account for the change. Otherwise, she wrote, Northwest College continues to focus on remaining cost-effective measures.
She said at Monday's meeting that the college even has $1 million in unallocated funds that could be used for more salaries, but Watson said she's not sold on being able to hold on to all that money at this point.
"We don't budget for what we can't afford," she said. "We need to be very thoughtful about a million dollar payroll every month ... I could see that money being used more one time only."
Last year the college lost more than $700,000 in funds to the state as part of its annual recapture process to divvy up college funding. They are still waiting to see how much will be taken by the state this year.
