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MATC District Board Approves 2005-06 Budget
The Madison Area Technical College (MATC) District Board
voted at its June 8 meeting to adopt the 2005-06 fiscal year budget.
The budget of $169,458,500 includes an estimated mill rate of 1.30446.
For every $100,000 in assessed property value, district property owners
will pay $130.45 in taxes to support MATC, $0.79 less than last year
when property owners paid $131.24 for every $100,000 in assessed value.
The estimated mill rate will be adjusted in October based on actual equalized
property valuation assessments.
“This budget advances MATC’s vital role in local economic development
and invests in the success of our students,” states Kevin Myren,
MATC chief finance officer. According to Myren, the budget provides staffing
to expand the nursing instruction initiative begun in last year’s
budget and includes major new investments in meeting student equity,
success and preparedness needs. The major initiatives include:
•
Expanding services offered in the areas of testing, advising and financial
aid.
•
Expanding instruction at the college’s regional campuses, including
the South Madison Community Campus in the Villager Mall on South Park
Street.
•
Improving alignment of curriculum.
•
Improving quality, access and relevance in selected Learning Programs
disciplines including two new instructors and additional part-time
faculty funding, along with improvements in discipline-specific software.
•
Providing staff and activities to improve cultural awareness and exposure.
The
budget also includes an initiative to address rising employee health
insurance costs. A portion of the savings realized through updating
and improving disability insurance will be used to fund the creation
of a
wellness coordinator. The coordinator will oversee a wellness initiative
designed to improve employee health and decrease insurance utilization,
resulting in minimizing future premium increases.
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 2005-06* Budget Summary
| |
Fiscal Year
2004-2005
|
Fiscal Year
2005-2006 |
Change from prior year |
Property Tax on a
$100,000 Home |
$131.24 |
$130.45 |
-0.6% |
| Mill Rate |
1.31242 |
1.30446 |
-0.61% |
| Total Expenditures |
$161,860,000 |
$169,458,500 |
4.69% |
| Total Tax Levy |
$70,467,595 |
$75,643,000 |
7.34% |
*The MATC fiscal year runs July 1 to June 30.
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Last
Modified:
June 9, 2005
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