Tuition increase expected this fall
By Julie Newell
LCC Chief Financial Officer Donald Wilske provided a financial forecast for the college during the Feb. 15 Board of Trustees meeting, including news of a potential tuition increase.
“The board calendar calls, at the February board meeting, for a two-year forecast being presented to them,” Wilske said. “And it’s a very high-level forecast of what we think revenues and expenses will look like for the upcoming two fiscal years.”
Wilske said the forecast includes many unknown variables.
“On the revenue side, we don’t know what’s going to happen with our state appropriation; that process is just beginning,” Wilske said. “Property taxes; we won’t know anything about that until late May or early June.”
Wilske said student enrollment is one of the most difficult things to estimate.
“At this point in time we are making the assumption that next year’s enrollment would be at the same level it’s been this year,” Wilske said.
According to Wilske, during the last board meeting, trustees approved changes in course fees.
“The board policy says that the board is to adopt the subsequent year tuition rates by March 31, so it (a vote on the tuition increase) would be intended to be on the agenda at the March meeting,” Wilske said.
Wilske explained why there will likely be an increase in tuition.
“We want to present to the board a balanced forecast for at least the first year of the two years,” Wilske said. “And so that’s why there is a proposed increasing tuition of $3 on the in-district tuition rate, going from $111 to $114.”
LCC continues to keep tuition rates low, despite the increase, Wilske said.
“Over the last four to five years, the college has attempted to keep its increases low, averaging out to about $3 a year,” he said. “One year was $4; another year was $2. We always also attempt to keep our increase and our rates below the statewide average.”
The tuition increases, if approved by the board on March 15, will go into effect for the fall semester of 2021.