Co-Lin OKs $24.1 million FY12 budget

Published 6:00 pm Friday, May 6, 2011

As the campuses of Copiah-Lincoln Community College anticipatethe closing of this school year, board members and administratorsare beginning to look forward to the year ahead.

Officials approved next year’s school budget and hope to savethousands of dollars after refinancing a bond during Thursday’sboard meeting.

The board approved the school budget of $24.1 million for the nextfiscal year, which will run from July 1 until June 30, 2012. Thatis nearly the same amount the school received for the currentfiscal year.

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“We’re pleased to have a level budget after the reductions we’vehad in the past few years,” said Co-Lin President Dr. RonnieNettles.

The college is expecting to bring in the most revenue from studentfees, which is expected to come in at $8.6 million. Students willbe happy to know at this point there is no tuition increase.

While next year’s budget will look about as it did from the yearbefore, college officials are excited that roughly $900,000 instate appropriations will replace federal funding next year.

“I’m really pleased with what we’ve been able to do,” Nettles saidof working on the current budget.

The biggest expenses next year look to be the $17.2 million thecollege will spend on salaries and the $2.3 million the school willspend on contractual services.

With bond rates being low, board members thought it was a good timeto refinance a bond, which was used to fund a schoolfacility.

The board approved a resolution to refinance the General ObligationEducational Facilities Bonds, Series 2003, which was the littlemore that $4 million used to build the Simpson County Center. Byrefinancing the bond, the school hopes to save roughly$70,000.

“By approving this, there is no risk to the college,” said JohnHenley, the board’s attorney.

Board members also learned of a few bright students and scholarshipwinners headed to Co-Lin next year.

Kathleen E. Bass, of Lawrence County High School, and Jedd P. Moak,of Enterprise Attendance Center, are recipients of the TaylorPresidential Scholarship. The award is a $5,000 annualscholarship.

Recipients of the L. Frank Pitts Scholarship, which is fulltuition, include Peyton N. Rials, of Brookhaven Academy, Haley N.White, of Enterprise Attendance Center, and Kelsey R. Rodgers, ofCrystal Springs High School.

“We are very excited about these incoming students,” said Dr. JaneHulon, vice president of Instructional Services on the Wessoncampus.