The Joliet Junior College Board of Trustees approved the college’s fiscal year 2015 budget at their June 10 meeting.
This is the 42ndconsecutive year that the college’s operating budget has been balanced.
The total FY15 operating budget is $86.25 million, a modest 3.3% increase over the FY14 budget. For FY14, the college actually decreased its budget by $21,375 from the FY13 budget.
“Each year, we face difficult choices in the budgeting process as we account for factors such as declining state funding and leveling enrollment,” JJC President Debra Daniels said. “I am pleased that the campus community continually expresses remarkable support and resolve in the wake of fiscal challenges. Innovations in student learning, resource development, and sustainable business practices have contributed greatly to the success of our institution over the past few years.”
Highlights of the FY15 budget include:
– A $4 per credit hour increase in tuition effective fall 2014 (approved by the Board in March 2014)
– A structure that does not rely on reserve funds
– An emphasis on student success
This past fall, the college’s financial team was awarded the Government Finance Officers Association’s (GFOA) Distinguished Budget Presentation Award for the FY2014 budget, as well as the GFOA Certificate of Achievement for Excellence in Financial Reporting for the Comprehensive Annual Financial Report for the fiscal year ended June 30, 2013.
This marks the ninth year in a row JJC has received the award for its budget and the 12th year of receiving the certificate of achievement. These recognitions are awarded by an impartial panel to government bodies that meet the highest principles of governmental budgeting and achieve standards of excellence in financial reporting, respectively.
“We were honored to yet again receive the GFOA budget award and certificate of achievement,” said Daniels. “This is the highest form of recognition in financial reporting and governmental accounting, and achieving these recognitions several years in a row is yet another indication of JJC’s commitment to financial stewardship of taxpayer resources. I am pleased that JJC’s financial team has been recognized for their hard work to keep the college’s budget balanced.”