Sinclair Community College will give pay raises to employees from 1.2 percent to 2 percent pools and give merit increases to some as part of the $125 million operating budget approved by the board of trustees on Tuesday.
The college, which has an economic impact of $344 million on the Dayton area, said its fiscal year 2014 budget is a “measured and prudently balanced response to the opportunities and uncertainties that lie ahead.”
It addresses an expected revenue decline due to declining property values of $300,000 from the levy that Montgomery County residents pay to support the college and projects a 1 percent drop in funding from Ohio as the state transitions to a new performance-based funding model. The levy contributes $28.4 million this year.
The budget also includes $2.4 million for scholarships.
Trustee Robert Connelly said the board feels “that it’s a balanced and prudent budget while continuing to invest in our students, faculty and facilities.”
The budget also draws $800,000 from Sinclair’s rainy day fund — about half what the college used the prior year — and takes $700,000 from its tuition stabilization fund. The college expects $3 million in additional revenue from tuition and fees because of higher enrollment and an annual $100 tuition increase and an extra $553,000 from the Workforce Development program.
Sinclair — which employs about 3,800 people, according to an economic impact study by the Southwestern Ohio Council for Higher Education — will pay an additional 1.5 percent on personnel because of the pay raises. Full-time, non-faculty employees will get a 2 percent pool. Full-time faculty will get a 1.5 percent increase and other bonuses apply to eligible professors. Part-time employees get a 1.25 percent increase and adjunct faculty a 1.5 percent bump.