Friday, May 27, 2022

CVTC budget approved, expenditures down 18 percent

Article Photo - CVTC budget approved, expenditures down 18 percent

The Chippewa Valley Technical College District Board on Thursday approved a 2023 fiscal year budget that includes opening of the new Transportation Education Center and expansion and remodel of the Emergency Services Education Center while providing for increasing enrollments and holding to a reduction in the property tax.

The budget calls for total expenditures of $113,970,259, with a decrease of 18.65 percent from the 2021-22 budget of $140,092,712, due mainly to the completion of these two referendum projects. General fund revenues are projected to be $58,876,816, up 2.03 percent from 2021-22.

An estimated six percent increase in property values accounts for a drop in the tax rate from $81.09 per $100,000 of property value to $75.72. The proposed tax levy – the amount collected throughout the CVTC district for support of the College – is $23,997,604, down 1 percent from the previous year.

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