St. Clair College Posts $40 Million Surplus For 2018-2019 School Year
Wednesday June 26th, 2019, 9:07pm
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St. Clair College has posted an unprecedented $40 million surplus for the 2018-2019 school year.
The budget had projected revenues of $182.7 million and expenditures of $172.2 million, for a projected surplus of about $10.5 million.
The actual figures at the end of the college’s fiscal year showed revenues of $198.3 million, versus expenditures of $158 million, resulting in the $40 million surplus.
The size of this surplus allows the college to some money on capital improvements and program enhancements, while holding some in reserves for the future.
Recommendations about specific uses of the surplus, including how much should be placed into reserves will be presented to the Board of Governors when it resumes its regular meeting schedule in September.
