(CENTREVILLE) – Glen Oaks Community College has their budget for the 2022-2023 school year.
During a recent meeting, the Glen Oaks Board of Trustees approved the budget, which has projected revenues of just over $14.76 million, which is an increase of $608,619 from the current budget. In addition, expenses for the new budget will be just over $14.74 million. That’s an increase of almost $600,000 from the present budget.
One of the reasons for the increase is revenues in a projected increase in tuition and fee revenue by $78,000. There’s also a projected increase in student housing income of $29,420 and a bump up of $283,954 in State appropriations.
In the expenses category, rent and utilities are expected to go up, however insurance premiums for employees will be going down. Glen Oaks President Dr. David Devier says he anticipates utility costs going down in the future, thanks to the renovation projects going on, which will save the school money in the long run.