GCCC Trustees approve budget, clarify transportation building project
Garden City Community College Board of Trustees approved the 2021-22 fiscal year budget at a special session on Sept. 13.
The mill levy is 24.529 mills, a decrease from the 2021 mill levy of 24.598.
This is a decrease of .69 mills, so Finney County residents will see a decrease to the GCCC portion of their tax bill.
The board also approved a resolution to exceed the Revenue Neutral Rate. In Kansas' 2021 legislative session, Senate Bill 13 was approved, which defined the process for taxing entities when establishing and setting an annual budget.
GCCC will exceed the Revenue Neutral Rate of 24.394 by approving the mill levy of 24.529 mills.
Because only estimated valuations are out now, actual valuations will come out in November, GCCC administration recommended exceeding the Revenue Neutral Rate.
At the Trustees' regular meeting on Sept. 15, a clarification was approved for the contract of the transportation building, which was approved at a special meeting on Aug. 26.
The total approved contract for the building is $2,200,846, which can be broken down as follows: $1,500,000 paid from the approved Certificate of Participation financing, $300,000 paid from Certificate of Participation financing from savings in approved projects which have been completed, and $400,846 paid from capital outlay funds.