Carl Sandburg College Board Approves New Budget for FY22

  Aaron Frey
  Friday, June 25, 2021 3:32 PM
  Campus News

Galesburg, IL

The Carl Sandburg College Board of Trustees adopted the College’s budget for fiscal year 2022 during its regular monthly meeting Thursday evening on the Main Campus in Galesburg. It marked the Board’s first in-person monthly meeting since February 2020. Regular meetings since that time had taken place via Zoom because of the COVID-19 pandemic. 

The new budget includes revenues of $26.8 million (up 7 percent from $25.1 million for FY21) and expenditures of $27.8 million (up 0.5 percent from $27.6 million for FY21). The College’s 2022 fiscal year begins July 1.

The Board also approved the principal transfer of $253,000 from the College’s Strategic Technology Endowment Fund (STEF) as well as the transfer of $138,300 from the working cash fund interest into the FY22 budget.

Eric Anderson of investment bank Piper Sandler gave a presentation on the outlook of the potential issuance of bonds to be used toward capital projects. Anderson noted current low interest rates, Sandburg’s limited amount of existing debt and its strong bond rating would result in limited risk for the College.

The Board retained Farnsworth Group of Peoria to serve as the College’s architectural and engineering firm for five years, starting July 1. Sandburg has worked with Farnsworth Group for its architectural, engineering and planning services since 2011.

In other business, the Board approved the following:

• Appointment of Steve Norton as Freedom of Information Act (FOIA) officer, effective July 1.
• Appointment of Stacey Rucker as coordinator of alumni and advancement communications, effective July 1.
• Employment of Kristle Harms as custodian, effective July 1.
• Employment of Jerry Thor as athletic director, effective July 1.
• Resignation of Mishelle Oaks as director of health professions operations, effective July 9.
• Resignation of Dimitrios Stalides as director of TRIO Upward Bound, effective July 4.
• Reimbursement of $108.58 each for trustees Bruce Lauerman, William Robinson, DeVone Eurales and Gayla Pacheco for travel to the Illinois Community College Trustees Association annual conference in Normal.

The Board’s next scheduled meeting is 7 p.m. July 22.