Saturday, October 17, 2020

SMC adopts budget detailing tough financial future - Brennon Dixson, Santa Monica Daily Press

Santa Monica College’s Board of Trustees unanimously adopted the local community college’s 2020-2021 budget this week following a presentation from staff that outlined a future of deficit spending and dwindling reserves. Expenditures for the college recently increased nearly $13 million dollars while its revenues remained stagnant. As a result, the community college district closed this fiscal year with $13.2 million in its Unrestricted General Fund, which is less than half of what it was when the 2019-2020 budget was adopted.