2008 Woodie Awards
Board of Trustees approve $116.8 million budget
Ricklyn Hukriede
Issue date: 7/2/08 Section: News
LBCC starts the 2008-09 school year with an unrestricted general fund totaling $116.8 million before paying academic salaries, classified benefits, supplies and services, leaving the college forced to tap into its reserves.
On Tuesday night, June 24, the Board of Trustees approved the budget with much concern for maintaining programs and projects with low funding.
The co-chair budget advisory committee, LBCC Vice President Ann-Marie Gable said, "In the general fund budget, we have a planned $5 million deficit to maintain service levels to students."
Trustee Tom Clark showed concern when he said, "We are being too optimistic about this budget. We won't be able to wither another year with spent deficit."
No funding is left in the reserves for facilities maintenance, technology replacements and support. Gabel said, "The reserves will be restored as soon as surpluses of dollars are identified."
Trustees seemed indifferent about the California federal funding arriving on time to create a surplus in the budget. Financial relief is not expected to arrive until Thanksgiving, the latest in LBCC's history.
Gabel said LBCC receives funding from federal, state and local sources. Federal funds include student financial aid and the small business development center. The Lottery and Cal Works contributions are from the states funds. Local support comes from property taxes and 2008 Measure E proceeds.
A goal that the college will be achieving this year is repaying all indebtedness to certificates of participation, central plants of equipment and Honeywell energy saving equipment with the 2008 Measure E bond.
Student trustee Kathryn Brown said, "It is unfortunate their current is a current deficit but it does occur from time to time. I'm sure those in charge of allocating budget money are doing everything in their power to bring the budget to a satisfactory level."
LBCC will face future budget challenges such as maintaining new facilities with limited staffing, identifying means to restore ending balance and preventing future deficit spending.
On Tuesday night, June 24, the Board of Trustees approved the budget with much concern for maintaining programs and projects with low funding.
The co-chair budget advisory committee, LBCC Vice President Ann-Marie Gable said, "In the general fund budget, we have a planned $5 million deficit to maintain service levels to students."
Trustee Tom Clark showed concern when he said, "We are being too optimistic about this budget. We won't be able to wither another year with spent deficit."
No funding is left in the reserves for facilities maintenance, technology replacements and support. Gabel said, "The reserves will be restored as soon as surpluses of dollars are identified."
Trustees seemed indifferent about the California federal funding arriving on time to create a surplus in the budget. Financial relief is not expected to arrive until Thanksgiving, the latest in LBCC's history.
Gabel said LBCC receives funding from federal, state and local sources. Federal funds include student financial aid and the small business development center. The Lottery and Cal Works contributions are from the states funds. Local support comes from property taxes and 2008 Measure E proceeds.
A goal that the college will be achieving this year is repaying all indebtedness to certificates of participation, central plants of equipment and Honeywell energy saving equipment with the 2008 Measure E bond.
Student trustee Kathryn Brown said, "It is unfortunate their current is a current deficit but it does occur from time to time. I'm sure those in charge of allocating budget money are doing everything in their power to bring the budget to a satisfactory level."
LBCC will face future budget challenges such as maintaining new facilities with limited staffing, identifying means to restore ending balance and preventing future deficit spending.