JWCC Trustees approve tentative balanced budget, tuition frozen for 2024

QUINCY — John Wood Community College’s Board of Trustees approved a tentative $18 million balanced budget for the next fiscal year during its regular meeting Wednesday night.

The tentative 2023–2024-year budget includes a zero-dollar increase in tuition and universal fees and projects a 10 percent bump in the number of credit hours delivered to JWCC students.

“For more students to access higher education and to build enrollment, our goal must be keeping tuition as affordable as we can,” JWCC President Bryan Renfro said.  “Starting at John Wood is the best bet for students to start or complete their college degree with limited debt. Keeping tuition low, investing in more student scholarships, and developing and enhancing academic and workforce programs are key components of this budget and the future of our college.”

Enrollment drives most of JWCC’s budget, as tuition and fees account for 43.7 percent of total revenue. Corporate and personal property taxes make up 37.6 percent, state funding 13.4 percent, and 5.2 percent is from facilities rentals and other sources.  

“We are investing additional dollars in student scholarships and plan to enhance our fundraising efforts in the same direction,” Renfro said.  “In addition to investing these public and private dollars, we are encouraged to see the state’s commitment to our annual budget move in the right direction.”

State funding is projected to increase approximately 7 percent to $2,412,078, which is slightly up from the previous fiscal year’s $2,261,279 budgeted amount.

JWCC kept the local property tax rate flat from the previous year.  An increase in equalized assessed valuation for property in the district will result in an estimated $137,166 in operating revenue.

The 2024 budget will remain on display for 30 days for public review.  The budget will be formally adopted during the July Board meeting. 

In other business, the Board:

• Accepted $4,200 in grant funds from the Dollar General Literacy Foundation for Adult Education/GED Testing Fees.
• Accepted $5,000 in grant funds from the United Way of Adams County for the Retired and Senior Volunteer Program (RSVP) Support Grant.
• Accepted $50,364 in grant funds from the Illinois Department on Aging for the Illinois Department on Aging RSVP Grant.
• Accepted $138,319 in grant funds from the Illinois Community College Board for the Trades School Grant Program.
• Approved adoption of a $6.3 million bond level for the School Treasurer’s Bond with THE HARTFORD through the Illinois Community College Risk Management Consortium. 
• Approved renewal of the United Way Partner agreement for FY2024.
• Approved renewal of the Regional Office of Education agreement at the Southeast Education Center in Pittsfield.
• Approved the Dean of External Relations/Communications appointment and reorganization of positions and appointments within.