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Higher Education Center reports balanced budget, construction completion and new testing center
Summary
The Southwest Virginia Higher Education Center reported a balanced FY2020–21 budget outlook despite revenue declines from events, described capital projects including a new 6,000 sq ft addition with a generator and freight elevator, and said the new testing center facilities and building renovations will be ready soon.
The Southwest Virginia Higher Education Center’s executive director, David Matlock, told trustees the center finished fiscal year 2020 in strong shape and is on track to balance the FY2021 budget despite a significant drop in non‑general revenue from conferences and events.
Matlock said the center’s five‑year average for non‑general revenue is roughly $275,000–$280,000; this fiscal year the center now projects about $40,000 from those sources, roughly $235,000 below normal, but he said the agency has cut expenses and will use reserves if needed to meet operational needs. Matlock said the center budgeted a contingency fund of about…
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