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?
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