News Releases
News from
Lane Community College, Eugene, Oregon
Public information officer: Joan Aschim, (541) 463-5591, aschimj@lanecc.edu
for release December 1, 2003
LCC
releases budget projections
EUGENE - Lane Community College has released budget projections for next
year and three years ahead.
"For the first time since becoming president two years ago, I am able to share some positive budget news," said President Mary Spilde. Lane will be able to maintain current service levels this year and for the next two years without the major deficits of the past. A deficit of $2.8 million is forecast for 2007 but there is time to address that through careful planning, said the president. “The decisions we made in the past two years, while extremely painful, have positioned the college to move to financial stability.”
Projections change continually as more information becomes available.
The president
plans to catch up on some deferred major maintenance and equipment and
computer replacement needs over the next few years.
Spilde urged a cautious approach to the future. “There are still
many uncertainties that need to be mentioned,” she said, noting
that state funding has never kept up with inflation. In addition, the
community college funding formula is unsettled for the long term and currently
is a one-year agreement that focuses on equity and capping growth.
Another uncertainty is whether voters overturn the legislative tax increase. If so, Lane would not be impacted this year but would lose about $450,000 each year of the biennium. If the effort fails, that amount could be used to serve students.
Other uncertainties are ongoing bargaining with faculty, no reserves, a Congressional bill that would tie tuition increases to cost of living increases and imposes sanctions on colleges that raise tuition more than the cost of living. finally, the college needs to build some reserves for the future.
"So while there are still many unknowns," said Spilde, "I am cautiously optimistic that we are through the worst and can increase our focus on student learning and serving the community.”
Budget assumptions and projections were approved by the college’s Board of Education November 12. Projections are available at 2011sitearchive.lanecc.edu, under College Business, then Budget Development 2004-05, then Budget Projections November 2003.
###
