The Vance-Granville Community College Board of Trustees adopted a budget of $32,324,089 for the new fiscal year at its bi-monthly meeting on Monday, Sept. 18, on the college’s Main Campus.
The trustees approved VGCC’s budget resolution for Fiscal Year 2017-2018 on a recommendation from the Budget Committee of the board, chaired by Trustee Abdul Sm Rasheed.
On the Current Expense side of the budget, $19,552,255 comes from the State of North Carolina, $2,578,292 from the four counties served by the college, and $9,652,832 from institutional funds. In the Capital Outlay budget, $35,649 comes from the State, $502,442 from the counties, and $2,619 from institutional funds.
At the county level, Vance County is contributing $1,151,597 to the current operating funds; Granville, $752,184; Franklin, $369,168; and Warren, $225,625, with an additional $79,718 coming from institutional funds. Among capital improvement funds from the counties, Vance is contributing $41,220; Granville, $28,740; Franklin, $20,000; and Warren, $6,000. The county capital improvement funds also include one-time funding of $304,831 and a Main Campus fund balance of $101,651.
The 2017-2018 budget is allocated as follows: institutional support: $5,195,362; curriculum instruction: $10,001,433; continuing education: $2,690,176; academic support: $1,299,114; student support: $2,074,683; plant operations and maintenance: $2,015,066; proprietary/other: $2,499,903; student aid: $5,215,433; capital outlay, excluding capital improvements: $792,209; and capital improvement projects: $540,710.
Among institutional budget highlights, Steve Graham, VGCC’s vice president of finance and operations, noted that 47 VanGuarantee Scholarships were awarded in the total amount of $50,514 to qualified students during the 2016-2017 academic year, with a similar amount budgeted for the new year. The VanGuarantee program was made possible by a bequest from the estate of Wilbert Edwards of Oxford, with the aim of ensuring that every student residing in Vance, Granville, Franklin and Warren counties, who wants to earn a college degree, will be able to do so. This scholarship program guarantees that student financial need, that is unmet by federal financial aid and other support, will be covered.
In other action:
Presiding over the meeting was Board of Trustees Chair Danny Wright.
The Board of Trustees will hold its next regular meeting on Nov. 20 at the Main Campus.