Tuesday, June 7, 2016

DCCCD provides updated budget outlook, adopts schedule for tax rate hearings

DCCCD Chief Financial Officer John Robertson presented an updated outlook for the 2016-2017 DCCCD budget at the June 7, 2016 work session of the DCCCD Board of Trustees.

DCCCD relies on three funding sources: state appropriations, tuition, and local residential and business property taxes. The Board of Trustees is responsible to set DCCCD tuition and tax rates.

State Appropriations
The DCCCD projects that state support for our District will remain approximately flat for fiscal year 2016-2017.

Tuition
DCCCD has the second lowest tuition rate of all Texas community colleges. When financial aid is considered, DCCCD has the lowest "net tuition" in Texas.

Local Residential and Business Property Taxes
The DCCCD Maintenace and Operations tax rate is in the lowest quartile of all Texas community college taxing jurisdictions.

While the property tax assessment appeal process is not yet completed, meaning that the certified taxable value (TAV) of all real property in Dallas County will not be determined until July 25, as of early June Dallas County projects a 9-10 percent increase in the Taxable Assessed Value of all real property in Dallas.

As a result, District financial services anticipates requesting the Board of Trustees reduce our tax rate slightly and keep tuition rates the same, while still keeping revenues at a level that supports maintaining instructional and student services.

At the June 7 regular meeting, the Board of Trustees adopted this Schedule for Tax Rate and Budget Adoption.

In a meeting with the faculty council on June 3, Chancellor May said that the projected increased revenues - even with a slightly lower tax rate - would allow for employee compensation increases. However, the amount of such compensation increases will depend on the final certified TAV and the tax rate the Board of Trustees ultimately approves at the September 6, 2016 meeting.

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