Sheridan College Board Of Trustees Examining Budget For 2024-2025 Fiscal Year

Sheridan College is working on its budget for the next fiscal year and while pay raises for faculty and employees will continue, the college is preparing for the time when Gillette College is officially on its own.

At its recent budget workshop, the Sheridan College Board of Trustees examined the budget for the upcoming 2024-2025 fiscal year.

The operating revenue for fiscal year 24 is more than $37.1 million

The budget will also have an approximate 6% increase in Sheridan County assessed valuation over the last year.

Full-time faculty will have their pay scale increased by 3%, employees that earn less than $100-thousand a year, will get a 3% increase, while those who earn more than $100-thousand a year, will get a 2% increase.

The new budget will include a surplus of more than $948-thousand.

College President Dr. Walter Tribley says while he’s pleased with that number, the college board knows that once Gillette College becomes fully accredited by the Higher Learning Commission, there won’t be as much money coming in to Sheridan College from the state legislature.

“The surplus is nice to see. That surplus also includes some revenue that we’re not going to have here in the near future, so we’re being careful, but we’re keeping our employees raises and their compensation moving. We don’t take for granted the fact that we are pitching towards a future where we have to be sustainable on our own.”

The Sheridan College Board of Trustees is scheduled to officially approve the Fiscal Year 2025 budget at its next meeting on Tuesday, July 16th.