Victoria College Board adopts budget and property tax rate
Victoria College's Board of Trustees voted unanimously voted to adopt the college's 2021-2022 operating budget and set the property tax rate
VICTORIA, Texas – Following a public hearing on Monday, August 16, Victoria College’s Board of Trustees unanimously voted to adopt the college’s operating budget and set the property tax rate for the 2021-2022 fiscal year.
The $33.8 million operating budget includes reductions of $160,898 compared to the current budget. The property tax rate was set at 20.76 cents per $100 of taxable value, a decrease of nearly6% from the current tax rate. The lower rate will increase VC’s revenue from property taxes by an estimated 1.5% due to increased valuations.
Based on the Victoria County Appraisal District’s certified property tax values for 2021, a homeowner who lives within Victoria College’s taxing district will pay $207.60 for a home valued at $100,000, compared to $220.30 last year.
Victoria College’s reduced operating budget for 2021-22 was achieved despite decreased state funding over the past decade. State appropriations will represent 16.7% of VC’s 2021-22 budget, compared to 24.8% in 2012-13.
“Of the 50 community college districts in Texas, Victoria College is one of only six that is considered to have a true balance between its two primary sources of revenue – property taxes and tuition/fees,” said Bland Proctor, VC Board of Trustees chair, citing a report recently presented to the Community College Association of Texas Trustees.
The budget will fund a 1.5% step increase for eligible employees in accordance with VC’s compensation plan, but it does not include a cost-of-living salary adjustment. After taking into account salary adjustments for the step increase totaling $228,052 and a decrease of $480,148 due to employment changes, the budget includes an overall reduction of $202,096 in personnel costs.
“During the challenges presented by the pandemic, VC has carefully analyzed every vacant position, keeping the number of employees aligned to student enrollment,” said Jennifer Kent, VC president. “As a result, we were able to lower our operating costs while maintaining a budget that reflects our commitment to meeting students’ needs and ensuring our employees are compensated adequately.”
The next meeting of VC’s Board of Trustees is Monday, Sept. 20 at 4 p.m.
COPYRIGHT 2022 BY CROSSROADS TODAY. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.