COM reduces expenditures with new budget

Posted on: September 17, 2012

The College of the Mainland Board of Trustees has approved the operating budget for the 2012-13 fiscal year, reflecting nearly $1 million in cost cuts for the college and a slight cost-of-living salary increase for employees. This was the first cost-of-living increase in years.
The 2012-13 budget is $33,370,237, which reflects a $965,393 reduction from the 2011-2012 budget. Budget cuts were made to position the college financially for additional reductions in state funding that are predicted for the next biennium and to improve operational efficiency while providing educational excellence for a growing number of students.

All benefit-eligible employees will receive a 1.5 percent cost-of-living increase, except for all nine-month faculty who will receive a 2 percent increase. The greater increase for nine-month faculty was granted to help offset the reduction in the rate of summer school compensation. The changes are effective in the 2012-2013 fiscal year.

“Unlike some of the other community colleges in Texas, we have not had to raise taxes or cap enrollment due to state funding cuts last year,” said Lisa Templer, COM vice president of College and Financial Services. “By becoming more efficient in our operations, we are able to remain financially healthy without any reduction in academic quality and student services or imposing a heavier burden on taxpayers.”

Recently the college’s revenue bond rating has also been re-evaluated by Moody’s Investors and been upgraded to an A2 rating from an A3.

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