LCTCS discusses tuition policy and approves contracts for legal services and a financial health assessment

The board spent substantial time on system financial sustainability and a proposed tuition and fees policy (policy 2.023) intended to identify levers for self‑generated revenue across LCTCS colleges. Chancellor Tenny and other chancellors summarized efforts to grow reserves, increase dual enrollment revenue and pursue grants and partnerships to stabilize institutional finances.

Board action on contracts: The board approved an amendment to add $12,000 to a legal services contract with Long Law Firm LLP (raising it to $19,500 total) to cover ongoing litigation work. The board also authorized the system president to execute a contract with Deote Consulting LLP for a financial health and efficiency assessment (effective May 1, 2025–June 30, 2026) with a not‑to‑exceed amount of $195,000; staff said the study will propose efficiency and revenue recommendations including potential Banner/system process alignment and financial aid optimization.

Context: Speakers emphasized that LCTCS colleges moved from being predominantly state‑funded to relying more on self‑generated revenue and that the system has not increased tuition in a decade even as enrollment and program growth occurred. Board members were also told the system grew its reserves substantially and that the tuition policy under review would accompany the FY25–26 tuition schedule if approved in June.

Next steps: The tuition policy item was presented for review and advisement and will return for board consideration in June alongside the tuition schedule. Deote Consulting’s assessment will begin in May and produce recommendations for board and chancellors to consider for FY26 planning.