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MATC
District Board Approves 2003-04 Budget
The Madison
Area Technical College (MATC) District Board voted at its June 11 meeting
to adopt the 2003-04 fiscal year budget. The approval follows a public
hearing held May 28. The budget of $141,708,000 includes an estimated
mill rate of 1.38545. For every $100,000 in assessed property value, district
property owners will pay $138.54 in taxes to support MATC, $1.23 less
than last year when property owners paid $139.77 for every $100,000 in
assessed value. The estimated mill rate will be adjusted in October basedon
actual equalized property valuation assessments.
“This
conservative budget takes advantage of nearly $1.5 million in savings
generated from decreases in the cost of employee health insurance premiums,
as well as multi-year savings made possible through efficient debt management
practices,” stated Kevin Myren, MATC’s chief financial officer.
“The budget has been developed to maintain access for district residents
to college programs and services. To better meet stakeholder needs and
help fuel Wisconsin’s economic recovery, important initiatives of
this budget include expanding educational offerings in health care related
fields through a combination of external funding sources, state grant
opportunities and reallocation of existing resources, as well as the enhancement
of offerings designed to improve the educational success of underprepared
students.”
In other action, the MATC District Board approved a resolution opposing
the levy limit legislation proposed by the Joint Finance Committee on
the Wisconsin Technical College System.
One of the largest of the Wisconsin Technical College System's 16 colleges,
MATC serves approximately 50,000 individuals annually and focuses on providing
practical, hands-on education for the workplace. It provides a comprehensive
curriculum of technical, liberal arts and science, college transfer, adult
basic and continuing education, as well as customized employee training.
Madison
Area Technical College 2003-04* Budget Summary
| |
2002-2003
|
% Change from Prior Yr
|
2003-2004
|
% Change from Prior Yr
|
|
Property Tax on a $100,000 Home
|
$139.77
|
-.85%
|
$138.54
|
-.88%
|
| Mill Rate |
1.39775
|
-.85%
|
1.38545
|
-.88%
|
| Total Expenditures |
$136,713,500
|
8.63%
|
$141,708,000
|
3.65%
|
| Total Tax Levy |
$ 63,422,426
|
7.06%
|
$ 66,636,000
|
5.07%
|
*The
MATC fiscal year runs July 1 to June 30.
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Last
Modified:
June 12, 2003
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