HOUSTON (Aug. 28, 07) – The nine-member board of trustees for the Lone Star College System has approved a new budget for the 2007-2008 fiscal year that funds the district’s dramatic growth without increasing the tax rate.
The new budget totals $233,480,000, an increase of 8% from 2006-2007, and comes at a time when fall enrollment is on track to jump 8% over last fall.
Lone Star College System is already the largest college or university in the Greater Houston area, according to the Houston Business Journal. The district’s enrollment is fueled by the explosive population growth across North Harris and Montgomery counties.
The district spans the Aldine, Conroe, Cy-Fair, Humble, Klein, Magnolia, New Caney, Splendora, Spring, Tomball, and Willis ISDs.
Lone Star College System’s new budget holds the line on student tuition. Tuition will continue to pay for approximately 25% of an in-district student’s total educational costs. In an effort to reduce the subsidy paid by in-district taxpayers, the board has raised out-of-district tuition beginning with the Spring 2008 semester.
Of the total budget, some 70%, or $165m, is allocated to the five Lone Star College System colleges to fund instructional and operational needs.
Highlights of the new budget include:
• 24 new full-time faculty positions to accommodate growth in student enrollments
• Funds for temporary classroom buildings for Cy-Fair and Lone Star College–Montgomerys where enrollment is considered at capacity
• An increase of $2m in scheduled payments of revenue bonds as a result of the issuance of revenue bonds earlier this year
• Several new district initiatives, including Achieving the Dream, a national initiative focused on student success
• A Web Content Management to improve the functionality of the district’s web site
• A projected conservative year-end fund balance of 16%.
The new fiscal year begins September 1.
Lone Star College System consists of Cy-Fair, Kingwood, Montgomery, North Harris and Lone Star College–Tomballs.
#