Sheridan College Board Of Trustees Examine Budget For Fiscal Year 2024

An early look at the fiscal year 2024 budget for Sheridan College suggests the college is looking into investing more into its faculty.

Among the highlights during a budget workshop at Tuesday’s (June 20th) Board of Trustees meeting, include a total operating revenue of more than $32.8 million, which is about the same as the fiscal year 2023 numbers.

The budget included a 16% increase in Sheridan County assessed valuation and a surplus of more than $114-thousand.

The full-time faculty pay-scale will be increased by 5-percent.

Employees that earn less than $100,000 a year will receive a 5% salary increase, those that earn more than $100,000 a year will receive a 4% increase and the President will receive a 2% increase.

The college will also bring back meal plans for full-time employees.

Of total budgeted expenditures, approximately 52% of the budget is for salaries and benefits, while the other 48% is for operating expenses.

College President Dr. Walter Tribley explains the factors that are taken into consideration, when preparing the budget.

“We have to take into account a number of assumptions that our enrollment will be slightly up, that our expenses are going to be generally flat outside of the ones we did budget for like the addition of some new people to support new things that we’re doing for our students. With that being said, budgets then have to match up with actuals and we watch that as we go through the year.”

The Board of Trustees will officially vote on the new budget at its next scheduled meet on Tuesday, July 18th.