Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Southeast Tech finance report shows modest surplus, $11 million fund balance going into next year
Summary
Vice President Christine presented a preliminary, unreconciled year-end snapshot showing roughly $39.5 million in revenue, $38.4 million in expenses, tuition and fees at roughly half of revenue, and an estimated fund balance near $11 million; she said final reconciliations and accruals remain pending.
Vice President Christine presented a preliminary financial snapshot for the fiscal year and told the board the numbers are not yet reconciled but provide a useful high-level view.
Christine said the college recorded roughly $39.5 million in revenue and about $38.4 million in expenses in the period under review, leaving a modest positive position on the cash side. "So I was, really intrigued by how summer was going to look and some of the revenues that were coming in," Christine said, adding that tuition and fees represent just under half of total revenues and state funds are a little more than a third.
She noted tuition and fees for summer booked at 104% of estimate and that auxiliary sales and interest income performed better than anticipated; federal funds that had been expected this year were pushed into the fiscal year 2027 budget because work had not progressed as fast as planned. Christine also flagged about $550,000–$575,000 in federal planning expenses for the Ed Wood Building that have not yet been reimbursed.
Board members asked for a separate construction-project column in future finance reporting so capital activity is easier to track; Christine agreed to provide that detail. The board moved to acknowledge the finance report by voice vote.
What’s next: Administration will finalize reconciliations, isolate construction-related reporting for the board, and report back as year-end numbers are closed.
