OGLESBY — Officials at Illinois Valley Community College say state funding for the current and future fiscal year looks “mildly optimistic.” The college board’s audit finance committee met on Monday, saying they are building the 2017 budget with the assumption that they will receive roughly 75 percent of their funding received in 2015, which was approximately $3.2 million. Officials say if the 2016 budget is only 75 percent funded from the state and over $500,000 in MAP grants are not funded, IVCC would have a $1.2 million loss in revenue for the 2016 fiscal year. A $2.1 million excess in operating reserves could cover the losses.
Cheryl Roelfsema says fiscal enrollments for 2016 are also below 2015 levels, but are “leveling off and early registrations for the summer session are higher than one year ago.”
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