WC board approves budget, sets tax rate

Posted Tuesday, Aug. 27, 2013  comments  Print Reprints

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The Weatherford College Board of Trustees took action and adopted the 2013-14 budget and set the 2013 tax rate at a special called meeting.

On Aug. 22, the board approved a budget of $53,597,079 for Fiscal Year 2013-14 and approved salary schedules.

The trustees also approved the proposed 2013 Ad Valorem Tax Rate recommended by Andra Cantrell, Vice President of Financial Affairs .

Based on the latest figures from the Central Tax Authority, Cantrell recommended the effective rate of $0.11464 per $100 valuation. The proposed tax rate is slightly higher than last year’s tax rate and consists of a maintenance and operations rate of $0.10713; and the debt service rate of $0.00751. Based upon the certified appraisal rolls of $9,385,056,808, the $0.11464 rate will generate $10,034,230 in maintenance and operations tax revenue and the required $621,200 necessary to fund debt service for the 2013-14 fiscal year. The new rate would mean an annual increase of $1.03 for a Parker County taxpayer with a home valued at $100,000.

In other business, the board approved the transfer of $300,000 from an auxiliary fund to cover the 2012-13 athletic year.

Cantrell said even as far back as the 1970’s, small transfers into the athletic program came from tuition credit hours, but only about 20 cents a credit hour.

“What I’d like to do, once the year closes out, is to come back to you and increase that 20 cents to $2.75 per credit hour that is in tuition,” Cantrell said. “It would fund it every year and we wouldn‘t have to come back and ask to do this like we are right now.”

The board also:

• Approved disposal of surplus and obsolete items through public sale, auction, bid process and trash and recycling as determined.

• Approved a Resolution authorizing the Inter-Local Cooperation Contract with the Texas Association of Community Colleges for participation in the TCCCPN Cooperative Purchasing Program.

• Approved was an inter-local agreement between the College and the City of Weatherford, allowing the City and College to jointly conduct fire science training classes at the Fire Training Facility on Oak Street in Weatherford.

• Approved the naming of four classrooms in the Academic Building in honor of community members who have made major contributions to the WC Foundation’s “The Time is Now For Your College” capital campaign: Marjorie Kimbrough Dome; Charlie and Trina Gilchrist; Rena Mae and Scott Woody and Frances Zellers.

The next regularly scheduled meeting of the WC Board of Trustees is Sept. 12.

Brent Baker, Vice President of Institutional Advancement, contributed to this report.

Lance Winter, 817-594-9902, Ext. 102 Twitter: @Lancewinter

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