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From Linda Bagwell
Director, Communications & Public Relations
This synopsis is intended as a brief overview of some actions taken by the Weatherford College Board of Trustees at its called meeting in August and is for general informational purposes only. This abbreviated summary is not intended to represent or reflect all discussion and action taken by the board at this meeting. Specific details outlining all action taken by the board are recorded in the official Board Meeting Minutes, prepared and maintained by the College President's Office.
WC board sets tax rate, approves budget
At a special called meeting Aug. 18, the Weatherford College Board of Trustees set the 2011 tax rate and adopted the 2011-12 budget.
To develop the budget, which was approved at $48,529,064 for Fiscal Year 2011-12, WC’s faculty and staff were faced with absorbing approximately $4 million in cuts in state funding. The College made drastic cuts in expenditures for equipment, supplies, travel and personnel-related categories, including no pay raises for current employees.
The trustees approved a 2011 ad valorem tax rate of $0.11195, consisting of the maintenance and operations rate of $0.10421 and the debt service rate of $0.00774. That takes it only to the effective tax rate, which is the rate necessary to generate the same amount of funds as last year’s.
WC’s current ad valorem tax rate is 33.9 percent lower than the statewide average for the 50 Texas community college districts.
“College personnel have worked very hard to develop a suitable budget for the coming year,” said Frank Martin, WC Board of Trustees chair. “Given the economy and state funding reductions, we have developed the most stringent budget and stayed at the lowest tax rate possible that still will provide funding necessary for the fundamental needs of our students, employees and the communities we serve. Our taxpayer supporters deserve the best value Weatherford College can provide.”
The next regularly scheduled meeting of the WC Board of Trustees is Sept. 8, 2011.