Board of Trustees Passes FY 2023 Budget
The Raritan Valley Community College Board of Trustees has approved a $54 million operating budget for FY 2023. The budget, which reflects a 1.5% decrease over last year, includes some cost-cutting measures such as a reduction in energy costs, as well as building and instructional supplies, and not filling some open administrative positions.
“As we face the challenges of a declining enrollment that was only exacerbated by the pandemic, it’s important that we rethink ways to preserve resources so that we can continue to meet the changing educational needs of our students and the community. One example in savings is fully powering the College’s Workforce Training Center with low-cost electricity from a solar array, which will save approximately $30,000 per year,” said RVCC President Michael J. McDonough.
The Board also approved a $9,266,333 major capital budget. This includes $3,933,000 in State Chapter 12 funds and $5,333,333 through The Securing Our Children’s Future Bond Act, which will be used for the expansion of the College’s Workforce Training Center.
Some of the major components of the capital budget include:
• $800,000 for the Enrollment/Success Center
• $600,000 for Arts Building renovations
• $733,000 for Exercise Science program location move/program expansion
• $250,000 for major roadway repairs
The Board also approved a $750,000 minor capital budget, which is designated primarily for technology and other instructional and building-related equipment.
The budget includes a $6 per credit tuition increase, which the Board of Trustees approved at the March 29 Board meeting.
The budget now goes to the Board of School Estimate for approval at its meeting on May 17. The Board of School Estimate includes two county commissioners from Somerset County, two county commissioners from Hunterdon County, and two members of the RVCC Board of Trustees.
Ranked by WalletHub.com and Niche.com as the #1 community college in New Jersey, Raritan Valley Community College has been serving as an academic and cultural center for Somerset and Hunterdon County residents for over 50 years. The College has been nationally recognized for its service to the community, environmental stewardship, and commitment to diversity. It is home to a Planetarium, Science Education Institute and 3M Observatory; a Theatre offering professional performances for all ages; and an Honors College for high achieving students.
The College offers more than 90 associate degrees and certificates, as well as career training, small business assistance through the Small Business Development Center, and professional development courses. RVCC is located at 118 Lamington Road in Branchburg, NJ. For further information, visit www.raritanval.edu.
FOR IMMEDIATE RELEASE
April 27, 2022
Media contact: Donna Stolzer, 908-526-1200, ext. 8383