For the first time, Heartland Community College is seeing a deficit in its operating budget.
HCC’s Vice President of Business Services Doug Minter said the college lost its eligibility for a state equalization grant, which caused the deficit.
“We’ve been watching this for several years. We’ve been aware that there is a significant risk that we could lose it because the scoring mechanism is a moving target, but it’s generally based on the ratio of district wealth to enrollment,” Minter said. “Our enrollments have been very strong, relative to many community colleges in the state.”
This is the first year HCC has seen a deficit in the operating budget. But Minter said it is less than was forecast in May’s tentative budget.
“Our financial health is as strong as it’s ever been. Our financial reserve is strong, our credit rating with our creditors is very strong. Again, this is a known outcome that has been discussed with our Board of Trustees for a few years now.”
Minter said the deficit will have no impact on the school year thanks to HCC’s foresight.
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