CNCC approves mill-levy decrease
November 29, 1999
Auditing has been completed and approved by the Moffat County Affiliated Junior College District (MCAJCD) and Colorado Northwestern Community College-Craig Board of Control (BOC) members like the results.
The audit, done by Matthew Scoggins, a certified public accountant (CPA) with Colorado CPA Services, P.C., represents the fiscal year ending June 30, 1999.
According to Scoggins, auditors devote different opinions for different cases. Scoggins’ opinion of the current financial position of CNCC-Craig and the MCAJCD is a state of “unqualified opinion,” meaning the college is in “clean operation.”
“Everything went really well. We managed with few difficulties through the transition,” Scoggins said. “We always enjoy doing the audit up here.”
Two-million dollars was budgeted for revenues in the fiscal year ending June 30 and actual revenue was $1,950,000. This complies with state statutes as actual revenues cannot exceed budgeted figures.
Current assets subtracted from liabilities results in fund equity. This figure consists of all money available to an organization, including money in banks and uncollected receivables. The MCAJCD has a fund equity of $955,378.
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Board of Control member Shane Warrick is satisfied with the audit numbers and sees them as an achievement toward future goals.
“It is very nice to see the college grow,” Warrick said.
During the meeting Monday, the BOC also approved a decrease in the current mill levy of 3.5 to 3.0.
Lowering the mill levy is due to an agreement on becoming part of the Colorado Community College and Occupational Education System (CCCOES).
A mill levy is passed by communities and based on property taxes. A mill of 1 would mean, before any deductions or other tax matters, for every $1,000 assessed as property value, $1 would go for the mill entity. With the drop of .5 for the CNCC-Craig mill, with every $1,000 of assessed property value $3 will go to the college.
This 3.0 mill is the highest level the state will allow. In upcoming meetings, the BOC will determine if the mill should be lowered further.
The BOC also selected two new accounting firms to handle upcoming financial obligations. Bonaker and Associates will handle BOC accounting and Gregory A. Hamilton will be responsible for BOC auditing.
The BOC also made changes in the budget for the next year.
CNCC-Craig Vice President Dean Hollenbeck stated how CNCC-Craig would like to offer housing for students by next fall. According to Hollenbeck, this would be a large marketing tool for the college. A future raise in membership fees at the MCAJCD-owned Trapper Health Club may also become a reality, but more details will be discussed at future meetings. The BOC would also like to determine whether the state would be interested in purchasing Trapper Health Club.
The next BOC meeting will be a special meeting discussing budget issues on Jan. 24 and the next regular BOC meeting will be Feb. 21.