Portage Public Colleges finishes 12 months with funds surplus, assignments deficit at end of 2021-22
PORTAGE, MI — Officials at Portage General public Universities say the district will conclude the university 12 months with some further transform.
The 2020-21 fiscal year is anticipated to conclusion this thirty day period with a far more than $630,000 price range surplus and better-than-predicted fund stability, Director of Finance Paula Johnson reported during a Board of Instruction assembly Monday, June 14.
“The 2020/2021 fiscal 12 months nonetheless continues to be a year like no other working with COVID-19 whilst however offering excellent instruction to our college students,” Johnson wrote in the budget modification presented at Monday’s meeting. “Since the launch of the vaccine, the environment is returning to a perception of normalcy and the economic system is recovering.”
The district’s typical fund revenues are predicted to exceed costs by about $637,305, she claimed. The projected fund stability as a percentage of expenditures is 10.32%, which is bigger than predicted