FARMINGTON — In these financial times when everyone is trying to get a piece of the action, Mineral Area College is being a good steward of taxpayers’ money … and not looking for any increase for the coming year.
MAC Board of Trustees members voted unanimously Thursday to accept a proposed taxation rate of .4599 per $100 assessed valuation for the coming fiscal year. That rate is the same level of taxation approved last summer and implemented for the current fiscal year.
While the taxation rate will stay the same, the anticipated assessed valuation of property within the Mineral Area College service area is expected to increase in coming months by about $77 million — from $775,611,660 this fiscal year to an estimated $802,758,068 in the coming year. That figure includes assessed real estate, personal property and state-assessed railway and utility services. Those numbers are determined by county assessors acting within state guidelines.
As for the college, the board proposed tax rates per $100 assessed valuation of .2924 for the general fund, .0375 for plant (facility) operations, and .1300 for debt service … equaling .4599 total. Otherwise stated, that is an assessment of 45.99 cents per $100 assessed valuation.
Based on a 100 percent collection rate of taxes owed the college, the institution would garner $2,347,265 for the general fund, $301,034 for plant (facility) operations, and $1,043,585 for debt service … totaling $3,691,884 for fiscal year 2011.
Also on Thursday the board of trustees approved a budget reflecting $37.5 million in revenue and roughly $37.75 million in expenditures … resulting in a gain of $225,000. As stated earlier, some $3.7 million of revenue would come from personal, real and major utility taxes. The remainder would come from tuition, state funding and other related sources.
Employees of the college will see raises ranging from $1,000 for classified staff to a minimum of 3.5 percent for other staff. The total cost to the college for wage increases will be about $244,000. Insurance cost increases for the coming year will leave the college paying an additional $170,000. Board members approved the insurance plan for the coming year during the May board session.
The board heard an explanation of the proposed revenue and spending plan before approving the matter by a vote.
And the group heard of a more immediate expense on the horizon … or as the case may be, on the library floor. Rusty Straughan told the board that just before noon Thursday water began appearing on the floor in the area of the library. The source was quickly traced to the main water line feeding the rear portion of the field house. The line, Straughan said, was located beneath the breezeway outside the library.
As of the afternoon it was uncertain just how long the line had been leaking. Straughan said it could have been several hours or longer. Eventually the water pressure beneath the concrete surface caused it to force a section of the concrete floor and tile covering upward by several inches inside the library — causing a miniature geyser.
Straughan told the board that a contractor was on the scene digging up the faulty line as he spoke. He anticipated the line would be repaired by sometime Friday. As for the damage to the library floor, he said there would have to be a thorough assessment made once the leak was rectified.
Also during Thursday’s meeting the board received an update on the Allied Health department expansion currently under way. Brockmiller Construction, based in Farmington, has excavated the area for the addition to the building and poured a foundation wing wall. The floor for the expanded area should be poured in coming days.
Plans call for Brockmiller to complete the Allied Heath addition by Aug. 1.
In a final piece of business, board members approved an “education incentive” for classified personnel which will provide for a pay increase to any classified employee who completes a bachelor’s or master’s degree.
MAC President Dr. Steve Kurtz explained that while a committee was reviewing and suggesting revisions for the college’s policy manual recently it was decided that the education incentive should be added. As proposed and approved by the board, any classified staff member earning a bachelor’s degree during employment with the college would receive a $500 per year pay increase. Any classified staffer earning a master’s degree would see an annual pay increase of $1,000.
The base salary adjustments would be effective on the first day of the month following completion of the degree after “official documentation is received by the Director of Human Resources.”
The board received a package of about a dozen other suggested revisions to the policy manual to be reviewed before a vote to approve those changes is called for later in the summer.
The board’s next meeting is at 2 p.m. July 15.
Doug Smith is a reporter for the Daily Journal. You can reach him at 573-756-8927, or at firstname.lastname@example.org.