Is McHenry County College Planning on Increasing Already High Surplus?

From former Cary School District President Scott Coffey:

It looks like MCC’s incremental annual revenue increase for next year will be:

1) $530K from taking the max CPI increase of 1.9% on existing property, plus

2) $133K from new construction, plus

3) $724K from a 5.5% Student Tuition Rate hike.

Total new incremental annual revenues will be $1.387 million.

A review of their FY19 financial results as of 6/30/19 shows that MCC generated a MASSIVE surplus of $4.477 million.

This is on top of the $3.7 million surplus they generated in FY18.

With MCC already generating large surpluses, how can they possibly justify another spike in tuition and an increase in property taxes?

Contact information for Trustees:

Questions/comments for the Board of Trustees can be sent to mcctrustees@mchenry.edu

Contact an individual trustee:

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The meeting starts at 6 PM Thursday night. Public comment is nar the beginning of the meeting.


Comments

Is McHenry County College Planning on Increasing Already High Surplus? — 7 Comments

  1. how can they possibly justify another spike in tuition and an increase in property taxes?

    the simple answer, because they can.

  2. Thank you, Scott, for an excellent piece of research.

    Please contact Brittany Keeperman, the NWHerald reporter assigned to this beat, and educate her.

    If Ms. Keeperman would ask these questions of the board members and the President, it might give them pause.

    Also, please write an LTE to the Herald and to the other area newspapers as a means of informing the public. Sunshine is the best antibiotic.

  3. They want 21 bucks more per semester hour—typical class will increase 63 dollars—take 5 classes its now over 300 bucks, all the while they dont need it with these surpluses…guess they’ve figured sticking to property owners wasnt enough, now make the students feel some pain.. What on earth is this INCREASE for? Please explain with the Revenue Surplus as the backdrop.

    Thank God the likes of Warren and others will make all Community Colleges free…yeah right.so if its free, we’ll see that Property Tax line go away, right? Again, yeah right.

  4. If the levy is more than 2.75 times (last year’s operating expenses, additional to amount of reserves equivalent to one year net operating expenses,

    A taxpayer objection lawsuit is warranted.

    Let qualified plaintiffs (any MCC property tax payer) indicate participation interest here.

    Consider me Interested participnt 1.

  5. Get rid of MCC.

    That will save a lot of $.

    The place is rather useless as is.

  6. This is what happens when you elect Democrat Socialists to the majority of a board of a taxing body.

    This board consists of 1 Conservative, 2 willows in the wind, and 3 Democrat Socialists and 1 straight up Socialist.

    What do you expect with this tax and spend ratio?

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