FINANCIALS We strive to keep Lakeshore Technical College an affordable, accessible, quality-education resource in our community, and understand controlling costs is an expectation of our institution as a taxpayersupported organization. Total 2019-2020 operating revenues increased by $1.5 million or 4.7%. This was due to increases in state aids and institutional revenue, offset by decreases in student fees. The college also recognized $814,000 in COVID-related funding during 2019-20. Total operating expenditures increased just 0.1%. The small increase in expenditures year-over-year was mostly the result of spending holds put in place as the college navigated through the pandemic. To date, we have been awarded $8.5 million in COVID-related funding, including $3.3 million for student emergency grants. The majority of this funding will be expended over the next year or two.
Operating Revenue & Expenses Fiscal Year 2019-2020 As of June 30, 2020 Operating Revenues: Tax Levy $ 6,924,955 State Revenue 16,492,531 6,466,922 Student Fees Institutional Revenue 2,215,247 Federal Revenue 1,716,086 $ 33,815,741 Operating Expenses: Instruction $ 18,506,016 Instructional Resources 1,266,387 Student Services 5,121,355 4,750,333 General Institutional Physical Plant 2,576,265 $ 32,220,356 Net Revenue (Expenditures) $ 1,595,385
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Report to the Community
COVID-Related Funding
Received as Awarded of 6/30/20 HEERF I - CARES Student Portion $ 488,908 $ 488,908 HEERF I - CARES Institutional Portion 488,908 278,194 HEERF I - CARES SIP Portion 49,014 14,794 HEERF II - CRRSAA Student Portion 488,908 — — HEERF II - CRRSAA Institutional Portion 2,108,139 — HEERF II - CRRSAA SIP Portion 108,478 HEERF III- ARPA Student Portion 2,305,266 — HEERF III- ARPA Institutional Portion 2,208,989 — HEERF III- ARPA SIP Portion TBD — WI Dept of Admin - Corornavirus Relief Funds 195,739 21,741 DMI Grant 50,000 10,690 WTCIT Grant 11,750 — Total COVID-related funding $ 8,504,099 $ 814,327
