LTC Approves 2012-13 Budget
FOR IMMEDIATE RELEASE
6/27/2012
CLEVELAND, WI –
The Lakeshore Technical College Board of Directors approved the 2012-13 budget on June 20 immediately following a public hearing at the Cleveland campus. The budget total of $49,209,000 reflects a decrease of 1.24% from the previous year.
“This budget was focused on reallocation and prioritization of resources to allow us to help people get back to work while meeting employer needs for skilled workers,” said LTC President Mike Lanser.
Revenues for 2012-13 are budgeted at $44,106,000, a decrease of .68 percent. The $32,931,000 operating budget, which represents general and special revenue funds, saw the operating funds decrease .89 percent while revenue increased .63 percent. Additional savings were realized through a reallocation of some expenses, insourcing information technology management resources and offering an alternative benefit plan.
The tax levy is $22 million, a 0.28 percent increase from last year with no increase in the $17.5 million levy for the operating budget. Assuming no change in equalized property value in the LTC district, the levy results in a tax rate of about $1.57 per $1,000 of equalized property value. The owner of a $150,000 house will pay $235.11 to support LTC in 2012-13, an increase of 66 cents over last year.
While no input resulted from the public hearing, input was gathered during the budget planning process from business and community leaders, the LTC Program Advisory Committee, the LTC Board, students and Faculty to identify factors impacting the budget.
“Uncertain economic conditions, reduced state funding, and potential current facilities limitations will have an impact on our strategic plan,” said Lanser. “Due to the hard work of everyone involved in the process, this budget allows us to do things now but we are running into capacity issues in areas like Welding, CNC, and Machine Tool.”
More budget details can be found at http://gotoltc.edu/pdf/plan_budget.pdf.
About Lakeshore Technical College
Lakeshore Technical College is a leading provider of technical education offering 100 career programs including associate degrees, technical diplomas, technical certificates, and apprenticeship programs. In addition, LTC offers distance learning, customized training to business and industry, and continuing educational opportunities.
Serving a 200,500-resident population in east central Wisconsin, LTC operates a main campus in Cleveland; additional learning sites at LTC Manitowoc and LTC Sheboygan; Community Education Centers at area high schools in Kiel, Mishicot, Plymouth, Random Lake, Reedsville, and Two Rivers; and 27 distance learning sites. LTC’s mission is to enrich lives and strengthen the economy by preparing a workforce that is skilled, diverse and flexible. On average, 79% of LTC graduates work in the LTC District which includes Manitowoc and Sheboygan Counties, and parts of Calumet and Ozaukee Counties. Visit LTC at: gotoltc.edu.
