The Lone Star College System board of trustees passed its 2014–15 budget at an Aug. 7 meeting.

Revenue for 2013–14 is projected at $320 million, while expenditures are projected at $331 million. The balance of expenses and revenue takes into account the money in reserves necessary to keep the system's AAA bond rating—16 percent of total general fund expenditures, officials said.

The budget sets aside money for the further development of several new LSCS buildings, including the Energy & Manufacturing Institute at University Park, LSC–CyFair's Cypress Center, the CHI School of Cosmetology at LSC–North Harris, which opened in February, and a transportation center at LSC–North Harris.

The school year will also start off with full implementation of the LSCS Honors College. Enrolled students are offered specialized instruction and opportunities in advanced academics, including an international capstone experience.

The budget included a 4 percent increase in compensation for part-time employees effective Sept. 1, as well as a 2 percent increase for full-time employees, which would be followed by an additional 1.5 percent increase in March. Officials have also budgeted for 21 new faculty positions.

Chancellor Steve Head said a recommendation will likely be made at the Sept. 4 meeting to adopt a net effective tax rate, which would lower the tax rate for 2014–15 in accordance with the increase in property values.

Meetings

Lone Star College

5000 Research Forest Drive, The Woodlands832-813-6521 www.lonestar.edu

Sept. 4

Meetings are typically the first Thursday of the month at 5 p.m.