Home News Archives General VGCC’s Trustees Approve Budget Of $18.2 Million For 1997-98

VGCC’s Trustees Approve Budget Of $18.2 Million For 1997-98

March 17, 1997 | by VGCC Staff

Updates On Enrollment, Franklin Campus Also On March Agenda

The Vance-Granville Community College Board of Trustees approved a proposed institutional budget totaling $18,219,949 for the 1997-98 fiscal year at its regular bimonthly meeting March 17. John T. Church, Sr., chairman, presided over the session in the college board room.

The adoption of the official college budget, plus an update on the Franklin County Campus construction project, headed agenda items for the trustees. The board also studied current enrollment data and handled personnel and curriculum matters, along with other business.

Budget chairman John M. Foster outlined budget items for the fiscal year beginning July 1, 1997, and gave detailed information of proposed local budgets and anticipated appropriations from various funding sources.

State funds would be used to underwrite an estimated 70 percent of the $14,858,184 operating budget and 40 percent of the $3,361,765 capital construction budget. Other operating revenue sources include the following: federal funds, 13.5 percent; self-generated institutional funds, 9.5 percent; and local county funds, seven percent. Franklin County’s recent $2 million bond issue completes the capital construction budget.

The operating funds requested from the four counties served by VGCC represent only seven percent of the operating budget.

Together, Vance and Granville counties will be asked to provide $873,858 in current and plant revenues for main campus, or nearly six percent of the total budget requests. Based on a 75 to 25 percent funding ratio, Vance County’s share would be $655,394, while Granville would be responsible for $218,464.

To operate its three satellite campuses, VGCC would seek local revenues totaling $164,389, or one percent of the total budget. The college will ask the boards of commissioners from Granville, Warren and Franklin counties to provide those funds for their respective satellite campuses.

The state’s proportionate share of the budget amounts to $11,714,244, of which $1,339,942 is state bond monies earmarked for construction. Funds from federal and other sources, such as the campus bookstore and vending, amount to $3,446,758, and Franklin County bonds total $2,000,000.

Dr. Ben F. Currin, president, reminded the members that the budget is not yet finalized and will necessitate revisions after appropriations are received from various funding entities.

Satellite Update

Building committee chairman David Brooks recognized architect Dan Knight of Dove-Knight Associates of Rocky Mount, who gave a progress report on the proposed Franklin County Campus, to be built on a 22-acre site on Highway 56 outside Louisburg.

“We’re very excited about the project and are working to hard to have the campus ready by fall 1998,” Knight told the board. Bids should go out in May and construction is set to begin in June, he said. The structure is being built with $1.4 million in state bond money, with $2 million in matching funds coming from Franklin County.

Other Business

Other business to come before the board included the following:
 

  • The members approved a motion to sell Houses No. 19 and 20 for minimum bids of $26,000 and $28,500, respectively. The houses were built on campus as a live project by vocational students, and profits from the sales will go toward scholarships for vocational students.
  • As recommended by Michele E. Burgess, personnel committee member, the trustees agreed to accept the resignation of Mary L. Carter, nursing instructor, and Tony Clark, criminal justice instructor. They also approved contract renewals of professional employees for the new fiscal year.
  •  Acting on a motion by Henrietta H. Clark, curriculum committee chairperson, the board OK’d offering several requested extension programs to immured groups in Butner.
  •  Members also agreed to a feasibility study to decide whether or not VGCC should apply for multi-campus status.
  •  Dr. Currin reported to the board that the spring enrollment count of 2,325 curriculum students is approximately the same as spring 1996.

Endowment Fund

The president concluded the meeting by distributing a calendar of events highlighted by VGCC’s Annual Endowment Fund Benefit Golf Tournament, slated May 13. Referring to the Endowment Fund, John K. Nelms, board vice-chairman, lauded Dr. Currin’s leadership in the exceptional growth of the fund since its reactivation in 1982. “With assets now totaling more than $2.2 million, we are able to use the interest earned from the principle to support scholarships for deserving students,” the president noted. Vice-chairman Nelms added, “We give out more scholarships annually than any other community college in the state.”