Heartland Community College Makes Financial Efficiency Move - CHARLIE SCHLENKER, WGLT

The Heartland Community College Board of Trustees voted Tuesday to move ahead with a debt swap that administrators hope will increase financial flexibility. Vice President of Business Services Doug Minter said the $10.7 million in bonds that will be issued will help pay off a wind turbine, technology and infrastructure improvements, and a land purchase west of the college on Raab Road in Normal. Minter said Heartland has been paying for those items out of operating cash until now. "It allows us to take some pressure off of our operating budget, which is funded more directly by tuition and fees, and still maintain a level tax levy and a slightly reduced tax rate," said Minter. http://wglt.org/post/heartland-community-college-makes-financial-efficiency-move