COD board of trustees approves FY 2013 budget

The College of DuPage Board of Trustees unanimously approved the Fiscal Year 2013 budget at its Monday, June 18, meeting.

The Operating Funds budgeted revenues for FY 2013 are $165,544,877 compared to $163,042,602 in FY 2012, representing a 1.5 percent increase. The Operating Funds budgeted expenditures for FY 2013 are $167,994,077, compared to $163,843,578 in FY 2012. This represents a very modest spending increase of 0.1 percent.

“In light of the funding challenges faced by COD and other Illinois institutions, as well as the incredible growth and improvements made to our physical campus over the last year, the Board of Trustees should be very proud of the fact that spending increased by such a small margin,” said Tom Glaser, Senior Vice President for Administration and Treasurer. “This minimal increase is the result of prudent decision-making made by the President, the Board of Trustees, and all departments within the College who were asked to reduce expenditures without affecting the quality and viability of our educational programs.”

The FY 2013 budget was developed under challenging financial conditions, with contributions from the state projected at less than 2 percent of the College's total Operating Fund revenues, said COD President Dr. Robert L. Breuder.

“As everyone who has been reading or listening to the news understands, there has never been a more difficult time to effectively manage a public institution of higher education,” Dr. Breuder said. “We have managed to thrive in a time when other colleges and universities are making reductions and even closing shop, which is reflective of the strong management and foresight of our financial team.”

Click here to view the FY 2013 budget and supporting documents. For more information, contact Associate Vice President for Marketing and Communications Joe Moore at (630) 942-2371 jmoore7718@cod.edu.