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APPROVED
MORAINE VALLEY COMMUNITY COLLEGE
9000 West College Parkway
Palos Hills, IL 60465
The Governing Board of Moraine Valley Community College, District No. 524, Public Hearing on the Budget, was held on Tuesday, September 15, 2009, in the Board Room D219, 9000 West College Parkway, Palos Hills, Illinois 60465. Public notice was given pursuant to the Open Meetings Act Section 42.02 (attached).
I. CALL TO ORDER
The meeting was called to order by Chairman Joseph Murphy at 7:21 PM.
II. ROLL CALL
Present: Joseph Murphy, Chairman; Patrick Kennedy; Mary Nolan; Sandra Wagner; Amy Paladin, Student Trustee
Absent: Susan Murphy, Maureen Ryan, Mark Weber
III. BUDGET PRESENTATION
Mr. Robert Sterkowitz, Chief Financial Officer, presented an overview of the FY'10 budget and identified projected revenues and expenditures in the college's general education, and operations & maintenance funds. Total projected Operating Fund revenues by source indicate that the college receives 12% from the state government, 35% from local taxes, 50% from tuition and fees, and 3% from other sources. Total operating fund revenue is projected at $68,359,135, and total operating fund expenditures are projected at $68,359,135. Total projected revenues for all funds is $106,263,619; total projected expenditures for all funds is $151,783,063. Mr. Sterkowitz indicated that this is a balanced budget; some of the projected expenditures are construction costs for which funds are held in restricted purpose accounts.
IV. PUBLIC HEARING
Mr. Murphy opened the floor for any public comments on the budget, which was on public display for 30 days. There was no audience participation regarding the budget.
V. ADJOURNMENT
The meeting adjourned at 7:43 PM.
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