Taxpayers in Southeast Community College’s 15-county district will see a reduction in the property tax they will pay to the College next year, thanks to action taken June 17 by SCC’s Board of Governors.
The SCC Board voted unanimously to approve the preliminary 2014-2015 fiscal year budget and authorized the publication of the budget in September prior to the annual budget hearing on Sept. 16. Preliminary figures indicate that SCC will be able to reduce its tax levy by 10.34 percent, to 5.98 cents per $100,000 in assessed valuation, after learning that the preliminary assessed valuation for the 15-county district increased by 9.4 percent.
Dr. Jack Huck, SCC president, said he was pleased to present the Board with what he called “a responsible budget.”
“After several months of looking at the data available to us, adjusting tuition, considering what we know about state aid for next year, and the larger-than-anticipated increase in assessed valuation within our district, I’m very happy to present the Board with what I believe is a very responsible budget for next year,” Huck said.
The College has three sources of funding: state aid, tuition and property taxes. Next year’s state aid allocation to SCC is $26,739,155. In March the Board voted to increase tuition $3 per quarter credit hour. Projected revenue from tuition next year will be $22,104,516. The property tax request by SCC will amount to $23,854,403, nearly $1 million less than the current year.
In all, SCC’s Board approved the publication of a $156,637,681 budget for 2014-2015.
“The College is in a very sound financial condition,” Huck said. “We have always maintained fiscal responsibility, and this budget reflects the great work everyone at the College has done to control spending. We are in a very good place.”
Huck, who is retiring June 30 after 39 years of service to SCC, the last 20 as president, has said he wanted to leave the College in the best possible financial condition.
“I think we’ve done that,” he said. “We are able to enhance the educational opportunities for students while at the same time being good fiscal stewards to the taxpayers of southeast Nebraska.”