Orangeburg-Calhoun Technical College finished its 2013 fiscal year with more than half a million dollars in unrestricted funds.
“The bottom line for this current year, we ended up with approximately $614,000 in the unrestricted fund ... kind of about where we expected it,” said Kim Huff, who recently replaced Retta Guthrie as vice president for business affairs.
“I would say that we’re close in our estimates ... a little more than we thought,” Huff said.
However, Huff noted that the figures will not be final until the annual audit is completed. The auditor is currently on campus.
“Right now, we are not aware of any adjustments that we need to make, but we are not willing to say these are final numbers yet,” Huff said.
The extra $614,000 came partly from the college taking in about $400,000 more in tuition and fees than was budgeted, Huff said. A lot of that money came in last fall when enrollment was strong.
Additionally, the college didn’t have to spend about $225,000 that was budgeted last year for contingency funds, Huff said.
Commissioners voted unanimously to move the money into the plant fund, which is used to pay for capital projects.
President Dr. Walt Tobin reported that the Orangeburg-Technical College Foundation is paying for the Winkler Group in Charleston to study if the college can carry out a successful capital campaign.
They’ll be on campus in September to determine if OCtech can get private support for an additional building for the manufacturing programs, an additional building for the nursing and health science programs and to create more scholarships, he said.
“They would identify potential donors, interview those folks and determine how much might be raised,” Tobin said. “If all goes well, we might launch a capital campaign in the spring.”
In other business, Tobin introduced Huff; Dr. Sandra Davis, who replaced Bobbie Felder as vice president for student services, and Fred Gantt, who replaced Bob Paulling as area commissioner.
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