The Odessa College Board of Trustees approved a total budget of $85,006,241 during their meeting Tuesday.
Chief Financial Officer Brandy Ham said the unrestricted budget is $66,475,903 and the restricted and plant funds budget is $18,530,338.
The restricted and plant funds include deferred maintenance for buildings and Vision 2030.
Ham said the college received a $4.3 million increase in state funding, or a 43.8 percent increase.
Budget priorities are to maintain a competitive salary environment; support the Odessa College 10,000 enrollment objective; strategic investments into student success strategies; and completion of ongoing facility construction projects, Ham said.
New initiatives are a website redesign costing $150,000; Argos Data Reporting System for $75,377; and buying a new transit passenger vehicle and 1 ton truck for a total of $100,000, she added.
The budget includes an increase of 23 full-time positions, which will bring the faculty to 445 members.
Also included is a 5 percent increase for eligible full-time faculty, professional and classified staff; a one-time mid-year stipend of $300 for eligible full-time employees, which is typically given in November; and a mid-year performance bonus for eligible employees, usually provided in December, Ham said.
Salaries and benefits are increasing by $3,793,000 or 9.7 percent; operating expenses are increasing by $1.9 million, or 13.1 percent; and capital equipment is increasing by $259,000 or 51.9 percent, Ham said.
Tuition and fees are up $977,266, or 5.7 percent, based on OC’s historical enrollment average.
On a separate item, there will be a groundbreaking for the new amphitheater at 10 a.m. Thursday. Vice President of Administrative Services Ken Zartner said it will be able to seat 450 people.
Zartner estimates the project will take about six months to complete. The contractor is MW Builders.
The fine arts parking lot renovation was also approved at a cost of $1,130,250. Zartner said the project will be done by MW Builders and is expected to be completed in spring 2024.
Trustees approved the purchase of LabVolt instrumentation equipment for $145,497. It will be paid for with a grant from the Permian Basin Area Foundation.
The board also approved the sale of property at 2324 Andrews Highway to Iron Strategies LLC for $150,000.
The board gave their support to pursue legal action up to and including a lawsuit against Collections Unlimited as they collected more than $100,000 from students and didn’t reimburse the college for it, said Zartner and attorney Daniel Harper.
“We are recommending that we go and try to collect from the collections agency,” Zartner said.
Vice President for Institutional Effectiveness Janice Hicks said the strategy planning OC does goes hand in hand with the historic budget that was approved.
OC has a two-year strategic plan and the top three goals are to increase enrollment, increase educational attainment and transform the community, Hicks said.
“I think part of our secret sauce is our culture. We establish the right culture to meet our goals,” she added.
President Gregory Williams recapped the Wood Health Sciences Building topping off ceremony.
On a separate item, he added that 10 students graduated with certificates of completion from the Law Enforcement Training Academy.
OC held its third annual Preview Day at the OC amphitheater. Representatives from all the instructional departments, student organizations and others were on hand to answer questions.
The grand opening of Odessa Downtown was held July 27. Williams said the venue can be used for Firecracker Fandango, First Fridays and other events.
The greenspace will be used for music, yoga classes and more.
