News – Sheridan Media
Sheridan College has its budget set for the new fiscal year, but is also starting to prepare for the time when there’s less funding coming in.
At Tuesday’s meeting (July 15th), the College Board of Trustees approved its operating budget of almost $38.2 million, which includes a $990-thousand surplus.
The budget reflects an approximate 17.2% decrease in local property taxes collected, and includes money for the remodel and addition to the College’s Science Center.
The full time faculty pay scale will increase by 3%.
All other employees earning less than $100-thousand per year get a 3% increase in salary, and those earning more than $100-thousand per year get a 1% increase.
About 63% of the budgeted operating expenses is for salaries and the rest for operating expenses.
College President Dr. Walter Tribley says right now the College is in a good spot, but the time will come soon when the funding well starts to dry up some.
“Within the standard error for budgeting, I think that we’re coming out a little bit ahead this year, but we are bracing for times in the near future where we’re going to experience some loss with property tax, etc… Recalibration is on the table at the state level, so if those go through, there’ll be less funding available through that mechanism, less available funding through property taxes, so in the future, we’re keeping our fiscal conservative position.”
Recalibration is an adjustment of how much money would be allocated to the community colleges, based on changes to the state’s system of enrollment.
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Last modified: July 17, 2025