College Approves 2019-20 Budget
The Tompkins Cortland Community College Board of Trustees has adopted a 2019-20 budget of $35,695,519 for the fiscal year that begins September 1, 2019. The 2019-20 budget sets tuition at $5,100 for full-time students (for New York State residents), an increase of $150 from last year. Part-time tuition will be $190 per credit hour for part-time students (for New York State residents), an increase of $9. The budget also includes a 5 percent increase in taxpayer dollars provided by Tompkins and Cortland counties, the first increase in sponsor county support since 2015.
Highlights of the budget include:
• The $35.7 million budget is 12.4 percent less than the approved budget for 2018-19.
• Projected enrollment for 2019-20 is 3,129 FTEs, a decrease from the projected 2018-19 enrollment of 3,172.
• Salaries (-4.26 percent) are projected to go down due to 10 FTE positions remaining unfilled.
• After not raising tuition for the 2018-19 budget, the 2019-20 budget increases full-time tuition by 3 percent ($150 for New York State residents) and part-time tuition by 5 percent ($9 per credit hour for New York State residents). For New York State residents, tuition will be $5,100 per year for full-time students and $190 per credit for part-time students.
• The budget includes a 5 percent increase in contributions from Tompkins and Cortland counties, the first increase since 2015. The percentage of the total budget funded by the sponsor counties will be 13.6 percent. Tompkins’ share is $3,125,045, while Cortland’s is $1,757,837. Each county’s share is determined based on a three-year average enrollment ratio.
• The budget includes total state aid revenue projected at $10,479,311, a decrease of $134,376 (1.27 percent) from 2018-19 due to enrollment.
• The budget appropriates $500,000 from fund balance.
In addition to the College’s Board of Trustees, the budget must also be approved by Tompkins and Cortland counties and the State University of New York Board of Trustees. The Cortland County Legislature approved the spending plan at its June 27 meeting. The Tompkins County Legislature meeting is expected to act on it at its July 16 meeting. The State University Board of Trustees will act on the budget in September.