November 2002 Board Meeting Report
The Illinois Valley Community College Board of Trustees Wednesday approved a tentative $11 million property tax levy, up slightly less than 5 percent from the fiscal 2001 levy of $10.6 million.
The board will discuss and finalize the levy at its Dec. 18 meeting. The levy is based on an estimated 5 percent increase in the district’s equalized assessed valuation or EAV. Recent EAV increases have been less than five percent: 3.2 percent in 2000 and 2.6 percent in 2001.
"We levy higher to ensure we receive the maximum dollars available," said Frank Papke, vice president of Business Services and Finance.
The failed Nov. 5 referendum had a significant impact on the levy, Papke said.
"Since the referendum failed, we are not able to levy an additional 7 cents. That would have brought in an estimated $1.6 million," Papke added.
In other business, the board learned the number of students taking advantage of financial aid is increasing dramatically. In his report to the board, financial aid director Steve Crick said the number of students receiving at least one source of financial aid rose 32 percent and the dollars awarded 27 percent from 2001 to 2002.
The spike was due largely to major increases in the federal Pell Grant Program, Illinois Monetary Award Program (MAP) and Student Loan Program, Crick explained. IVCC awarded over $3.75 million to some 3,200 students last year. About 75 percent of IVCC’s students receive at least one source of financial aid, Crick said.
" I attribute the increase in awards to the fact our enrollment is increasing and our students are showing greater need. Today’s students are more aware of the availability of financial aid and are able to take full advantage of it. I see this trend continuing as we are ahead of last year’s pace in the amount of financial aid awarded," Crick added.
The board also:
- Approved bidding for the next three class schedules at an estimated combined cost of $63,000.
- Rejected the $449,534 bid of JB Contracting in La Salle for a combination of three electrical projects. JB’s was the only bid received but was over the estimated cost. The college will now separate the three projects and bid them individually.
- Renewed cash farm leases for 2003 with Chris and Roger Ploch (9.6 acres) and Keith Gehm (129 acres).
- Authorized the administration to enter into negotiations with a goal of achieving a property tax agreement with Crescent Ridge, LLC, for the wind farm project southwest of Tiskilwa.