Thursday, August 27, 2015

Lake Land College budget nearly balanced - ROB STROUD, JG-TC

The Lake Land College Board of Trustees on Tuesday approved a deficit budget for fiscal year 2016 that the college will balance by drawing from its savings. College President Josh Bullock said the budget is projected to have $38.1 million in revenues and $38.3 million in expenditures, resulting in a $277,353 deficit. He said the deficit will shrink if the upcoming reduction in state funding for community colleges turns out to be less than Lake Land officials anticipated. At the July 13 board meeting, Bullock reported that Lake Land has a reserve fund available to help balance the new budget because the college has been cutting costs in anticipation of the state funding reductions.

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