I am pleased to share that the College’s 2021-22 operating budget was presented and approved at Monday’s Board of Trustees meeting. Despite the many financial challenges associated with the COVID-19 pandemic, the College will be able to make some strategic investments in high-impact practices and special projects with long-term impact such as improvements to classrooms and campus air quality.
We will continue to improve our learning spaces and technology for our students. We have begun planning an expansion of the Ghazvini Simulation Center and renovation of the Student Union, and will be making significant upgrades to all classroom technologies and employee computers. We are also prioritizing an upgrade to our Heating, Ventilation, and Air Conditioning (HVAC) systems based on indoor air quality recommendations.
We will continue to invest in our employees. In recognition for the amazing work by our team throughout the pandemic, we will be providing a 4% one-time stipend for all regular, full-time employees at the end of the first quarter with the exception for faculty, pending collective bargaining. Also, though insurance and retirement costs are still rising, the College continues to explore ways to minimize their impact to our employees and their families.
We will leverage federal stimulus dollars to provide direct support to students. Through the CARES Act, the College was able to make critical pandemic-related investments over this past year on student grants, physical safety protocols and instructional support. We will continue these types of investments with the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA) and American Rescue Plan Act monies so that our regular operating budget dollars can be stretched further.
The 2021-22 budget is balanced and preserves a sufficient fund balance thanks to the efforts of Vice President Barbara Wills and her team who have been working hard to ensure our budget is aligned with our values. However, an important part of the revenue we project this coming year will depend on the efforts of our entire campus to ensure a flat or increased enrollment for fall. You can review the prior presentation of the budget from the Board’s May meeting, including a revenue and expenditures breakdown, here.
By renovating learning spaces, upgrading technologies and facilities, funding support services and prioritizing instruction, TCC continues to demonstrate our focus on student success. Throughout the challenges of the past year, we have remained committed to the academic excellence and student success that have been this College’s hallmarks for more than a half century.
Thank you for all you do to make TCC one of the top institutions in the nation!