Tompkins Cortland Community College

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Peter Voorhees

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News Release

College Adopts 2017-18 Budget

June 15, 2017

The Tompkins Cortland Community College Board of Trustees has adopted a $40,857,954 budget for the 2017-18 fiscal year, which begins September 1, 2017. The 2017-18 budget, which is nearly a million dollars smaller than the previous year’s budget, includes a $160 increase in full-time tuition for New York State residents (from $4,790 to $4,950 per year) and a $9 increase per credit hour in part-time tuition for New York State residents (from $172 per credit to $181 per credit). The budget includes no increase in taxpayer dollars provided by Tompkins and Cortland counties.

Highlights of the budget include:

• The $40.8 million budget is 3 percent smaller than the approved budget for 2016-17.
• Projected enrollment for 2017-18 is 3,475 FTEs, a decrease from the projected enrollment for 2016-17 of 3,506.
• The cost of employee benefits is projected to go down slightly (0.78 percent). The decrease is due to a smaller workforce (19 less positions), as well as a reduction in the employer contribution rate of state retirement costs.
• The budget includes a 3 percent increase in full-time tuition for New York State residents. Tuition will go from $4,790 per year to $4,950 per year. Part-time tuition for New York State residents will increase 5 percent from $172 per credit to $181 per credit. Overall, the College projects revenue from tuition and fees will be slightly more than $20.4 million, a decrease of 7 percent from 2016-17 (due to smaller enrollment).
• The budget includes no increase in contributions from Tompkins and Cortland counties. The percentage of the total budget funded by the sponsor counties will be 11.5 percent. Tompkins’ share is $2,976,233, while Cortland’s is $1,672,131. Each county’s share is determined based on a three-year average enrollment ratio.
• The budget includes state aid to community colleges of $2,747 per FTE, an increase of $50 in the rate from the 2016-17 budget. Total state aid revenue is projected at $10,501,648, a decrease of $27,254 (0.26 percent) from 2016-17 (due to smaller enrollment).
• The budget appropriates $246,503 from the fund balance.

Tompkins and Cortland counties and the State University of New York Board of Trustees must approve the budget. The Tompkins County Legislature is scheduled to vote June 20. The Cortland County Legislature is expected to act on the spending plan at its June 22 meeting. The State University Board of Trustees will act on the budget in September.