OC tax rate discussed

Odessa College's trustees recommended a lower tax rate for 2008 at their board meeting Tuesday night but don't get too excited yet - taxes are still going up because of increased home valuations.

The proposed tax rate is 16.24 cents per $100 valuation, a drop of more than 10 percent from last year's rate of 18.17 cents per $100 valuation, trustee Gary Johnson said. However, Odessa College's 2008-'09 revenue is expected to be $15.27 million, a 10.2 percent increased over the 2007-'08 revenue of $13.86. That means while the tax rate is going down about 10 percent, taxes are actually going up about 10 percent.

Johnson said that because of a legislature approved 10 percent cap on homeowners' appraised values, many homeowners will not see much of a an increase. He said the bulk of OC's revenue will come from mineral rights and commercial property.

Public hearings for the tax rate will be at noon Sept. 8 and 6 p.m. Sept. 11 in OC's Special Events Room.

Last month, the board approved a $41.3 million budget for the 2008 fiscal year. The new budget is up 7.4 percent from the 2007 budget of $38.45 million.

Virginia Chisum, OC's vice president of business affairs, said there's typically a 5 percent increase in the budget due to cost of living expenses.

She said this years budget mostly includes facility improvements, added faculty, online courses and a 6 percent increase in wage increases, which was approved last month.

A portion of the budget will go to what Chisum called an "official front door for students," so they can have a one-stop shop area where they can take care of basic needs. She said it would look like a student union multi-purpose facility.

The trustees also discussed the designation of the fund balance. Chisum said long ago there was a trustee loan program that's no longer needed because the state now allows students to pay their tuition in installments.

That $676,785 will now be deferred for maintenance projects on campus, she said.

>> The trustees also approved the conformation of the 2007-2008 budget to actual expenditures at the end of the year.

>> Chisum announced the quarterly investment report, the monthly financial statements and budget amendments.

>> Tanya Hughes, executive dean of institutional effectiveness and special projects, said, "We were lacking in communications, so we implemented several new things."

OC will now play host to an incentive called "Coffee and Conversation," in which students and faculty are invited to "chat" and listen to a 15-minute presentation on relevant issues and participate in a question-and-answer session with president Gregory Williams. This will be held twice a month.

Other incentives include a new communications website that will be a "new source of information," Hughes said, and a regular lunch with the OC president.

"Lunch with the President" will be held 16 times throughout the year to encourage relationships and learn what is going on in the community, Hughes said.

Johnson suggested it be called, "Good Grub with Greg."

The board also approved a change in vacation and sick leave policies that will not increase the amount of vacation hours employees can receive, but how they accrue those hours so can plan ahead for extended vacations. 

IF YOU GO

>> Public tax hearings will be held at noon Sept. 8 and 6 p.m. Sept. 11.

New this year:

>> There will be a 6 percent wage increase for all employees.

>> Improvements in facilities.

>> A new "front door" for students, which would be a designated area where they can take care of basic administrative needs, such as financial aid, admissions and counseling.

>> A proposed 10.62 percent decrease in the tax rate.