Vermont State Colleges tell Commerce & Economic Development committee they have stabilized finances, seek $5M bridge funding and 5.9% budget increase

Beth Mauch, chancellor of the Vermont State Colleges System, told the Vermont House Committee on Commerce & Economic Development on Jan. 15, 2025, that the system has "turned a corner" financially but is requesting a 5.9% operating increase and $5 million in bridge funding to finish its recovery and support workforce programs.

The request follows a period of severe short-term liquidity in 2020, when the system had "8 days of cash on hand," Sharon Scott, the Vermont State Colleges' chief financial and operating officer, said during the committee meeting. Scott said the legislature's earlier actions, including Act 77 of 2021 and select committee recommendations, provided bridge funding and structural changes that have helped stabilize the system.

Mauch and Scott summarized enrollment and workforce outcomes they said support continued state investment: the system graduated about 2,000 students last year across certificate, associate, bachelor’s and master’s programs; it enrolls more than 10,000 degree-seeking students and about 7,000 people in workforce development programming; and about 80% of students are Vermonters. Vermont State University (VTSU) recorded a 14% increase in new student enrollment last fall, Mauch said.

Despite improving…