President Dr. Sheila Quirk-Bailey and Executive VP of Administration and Finance Bruce Budde presented an update on the current state of ICC’s FY 2017 Budget.
Additionally, Dr. Bailey spoke on the college strategic plan, enrollment initiatives, and gave information on the FY 2018 Budget.
April 2017 Budget Presentation
• Because of the effective management of costs, positions, and expenditures, furlough days will not be necessary this fiscal year; however a hiring freeze will be in effect until July.
• Several initiatives to help build enrollment will be undertaken. This includes the development of an admissions office to assist students navigate ICC’s intake processes.
• The Strategic Planning Community Conference resulted in four strategic directions:
• The Strategic Planning Community Conference also identified five goal themes:
– Align curriculum with community needs (business, nontraditional, academic pathways, academic plans, workforce and transfer);
– Create a student-focused culture;
– Improve college and career readiness and transitions (improve HS to college preparedness, developmental, pathways);
– Increase completion rates for all students (completion gaps, adult learners);
– Build capacity for change.
• The Board approved a $3/credit hour increase in tuition, which is in line with the increase in the Consumer Price Index (CPI). ICC has decided on pursuing a 2 percent credit hour increase for next year to help realize the College’s mission. More than half of the region’s adults over age 25 do not have a college credential. While ICC’s market share from high schools is above the national average, our non-traditional market share is well below the average. This means that we are not reaching people who could benefit from achieving a college credential.
• To keep our budget in balance for FY18, the following assumptions are in play:
– No annual increases in salaries will be given to non-contractual employees;
– The cost of employee benefits will not exceed a 3.5% increase;
– Utilities will not exceed a 15% increase;
– 50% of previous funding for conferences and meetings will be restored.