The upcoming Lone Star College System budget received unanimous approval from its board of trustees Aug. 1 during a regular meeting.
The budget shows a 3% overall increase in both revenue and expenditures for the university. LSC Chief Financial Officer Jennifer Mott said there were no significant changes from the initial budget workshop in June.
Among the highlights for the upcoming budget, which will be effective Sept. 1, are $8.3 million from an increase in tuition and fees, and an estimated $8.3 million in increased property tax revenues based on an assumption of no property tax increases.
Mott also said LSCS is anticipating a 2.5% student enrollment growth, which will bring in $2.5 million.
In terms of expenses, Mott said the college is adding 28 faculty and a new facility. An additional $1.5 million is also going to adjunct faculty.
“We estimate this will put us in the top three Gulf Coast colleges for adjunct pay,” Mott said.
LSC Chancellor Stephen Head said 1,200 employees will begin seeing their increased pay in early March.
Overall, the proposed budget includes a total of $392.12 million for revenues and $392.14 million for expenses.
Moving forward, LSC’s proposed tax rate will be presented to the board of trustees Sept. 5. Public hearings will be held Sept. 17 and 25 before the adoption Oct. 3.