JALC Board of Trustees Unanimously Approves Balanced Budget
Published on June 27, 2024
At its June meeting, the John A. Logan College Board of Trustees unanimously approved a balanced fiscal year 2024-2025 budget. The Board unanimously voted to adopt the budget after a presentation by College President Dr. Kirk Overstreet, showing that the estimated revenue would exceed the expenditures by over $30,000.
The approved budget, with estimated expenditures of $33.4 million and estimated revenues of $33.5 million, represents a comprehensive financial plan to sustain excellence in education while ensuring responsible resource stewardship.
“This is a historic day because often you cannot present a balanced budget in education based on estimation of revenue and expenditures for the coming year,” said Board Chair Bill Kilquist. “Budgets are just that, an estimate, and our administration has always done a good job of being conservative in both their estimates of revenue and while underspending on their projected expenditures.”
Kilquist thanked CFO Dr. Susan LaPanne, President Overstreet, and the entire campus community for their efforts to present the board with a balanced budget.
JALC President Dr. Kirk Overstreet expressed his appreciation for the collaborative efforts of CFO Dr. LaPanne, college administration, staff, and faculty. Their joint work in developing a budget that aligns with the institution’s strategic goals is a testament to the college’s unified approach, making everyone feel included in its financial decisions.
“We are pleased to announce the unanimous approval of our balanced budget for the upcoming fiscal year,” said President Overstreet. “This achievement reflects our ongoing commitment to fiscal responsibility and sustainability, ensuring we continue to serve our students and community effectively.”
John A. Logan College’s mission is to enrich lives through learning and community engagement. Approval of the balanced budget reaffirms the college’s position as a regional higher education leader, inspiring our stakeholders with our mission-driven approach.
