Southeast Tech finance report shows healthy fund balance; board approves second reading of policies

Christine Goldsmith, vice president of finance, presented October‑close financials and told the board that, at that point in the fiscal year, the college had brought in about $14.6 million in revenues, with roughly 61% from tuition and fees and about 20% from state funds. She said total expenses were roughly $14 million and described functional spending—instructional services and support services—while noting facility expenses are under 10% of operations.

Goldsmith reported that several million dollars in state funds and HUD reimbursement related to the Ed Wood Building had been received after October closed, and she said the combined fund balance at the October close was $12.7 million. She described a typical operational burn rate of about $2.5 million and warned that upcoming capital projects will draw on working capital.

After brief board comments and a motion, the board acknowledged and approved the financial report by voice vote.

Later in the meeting, the board conducted a second reading of Southeast Technical College/Sioux Falls School District policies and regulations (items a–i). Jim Larson presented the second reading and reported there had been no requests for changes; the board moved and approved the second reading of items a–e by voice vote.

A motion to adjourn was adopted and the meeting was closed.