The Joliet Junior College Board of Trustees approved the college’s FY 2017 budget at their June 14 meeting.
The total operating budget for FY17 is $ 88.94 million, representing a 2.07% increase over the FY16 budget. This is the 44th consecutive year that the college’s operating budget has been balanced.
The annual budget was developed with extensive planning and input from the college community through its shared governance process, and is based on the 2017-2019 Financial Plan and annual priorities established by the Board of Trustees.
“We continue to face funding challenges with the lack of a state budget, but at the same time we remain focused on keeping education affordable,” said Interim President Dr. Judy Mitchell. “I’m proud of the collaboration and hard work across the institution that went into planning this year’s budget.”
Highlights of the new budget include:
- $10 increase in tuition
- 1% enrollment growth
- New personnel costs to support student success initiatives and facility maintenance for the opening of our new City Center Campus
- Required grant fund match for U.S. Department of Education Title III Grant to support student engagement, persistence and completion programs.
To create a balanced budget, the college will also be taking cost-saving measures that include restricting out-of-state travel, closing the Small Business Development Center, and putting on hold the filling of several positions.
“Over the past four years, the college has reduced its operating costs by over $2 million,” Mitchell said. “We’ve actively pursued creative revenue sources, receiving more than $5.4 million in grants to offset operational costs in FY15. We’ve done all of this while keeping tuition low for our students.”
In fact, in FY16, JJC ranked 14th out of 16 peer colleges like Moraine Valley, Prairie State, Elgin Community College, and others across the state for the lowest tuition rate.
Additionally, this past fall, the college’s financial team was awarded the Government Finance Officers Association’s (GFOA) Distinguished Budget Presentation Award for the FY2016 budget.
This marks the 11th year in a row JJC has received the award for its budget, which is only given to government bodies that meet the highest principles of governmental budgeting and achieve standards of excellence in financial reporting.