Finance report: Southeast Tech shows preliminary revenue strength; college hears governor recommended $6 million for Abner Center

Christine, the college's VP of finance (identified in the transcript), presented the Rainbow report updated through September and described the college's fiscal position approximately 25% into the fiscal year. She reported roughly $11.2 million in revenues and $9.8 million in expenditures as shown in the presentation and said tuition and fees account for the largest share of revenue in the slide deck.

Christine explained timing issues that affect the apparent shares of federal and state funding (for example, a portion of state per‑student allocations arrived days after the reporting cutoff). She noted federal reimbursements tied to the Abner Center capital project—about $2 million shown in the federal category on the report—and said those reimbursements will materialize as project expenditures occur.

During discussion board members referenced a HUD allocation of about $6.5 million to be spent over multiple years; Christine said the timeline and drawdown schedule mean the college's federal revenue recognition will vary across the multi‑year buildout. Separately, an administrator reported the governor's recommended budget includes $6 million for the Abner Center (the college had requested $8 million) and $4.3 million in equipment funding systemwide, with Southeast Tech expected to receive roughly one‑third of that equipment pool.

Board members thanked staff for cultivating city, federal and philanthropic support and approved the finance report by voice vote. The board noted that additional budget detail and project timelines will be refined in future meetings.