News Releases
News from Lane Community College, Eugene, Oregon
Media contact: Joan Aschim, 463-5591, aschimj@lanecc.edu
for release May 27, 2004
LCC Budget Committee approves budget for board adoption
EUGENE - Lane Community College is on the road to financial stability with a budget recommendation for 2004/05 that has no program or service reductions, and only an inflationary tuition increase.
The college Budget Committee approved the 2004/05 budget on May 26 and it now goes to the college Board of Education for adoption. The board will meet Wednesday, June 9 beginning at 6:30 p.m., in the Boardroom, Building 3, main campus, to hold the annual public budget hearing and review the budget for adoption.
“This is basically a status quo budget,” said President Mary Spilde, noting that “Lane will be okay this year and next," but cautioning that deficits loom for 2006 and 2007.
The recommended budget includes a tuition increase of $1.50 per credit hour, from $63 to $64.50, as per board policy to annually adjust tuition for inflation.
No new significant recurring changes are included in the budget but there
are some one-time investments to help address the projected future shortfall
and other needs. Included are investments for deferred facilities maintenance,
and a stabilization reserve fund. The general fund total is $79,232,500.
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