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 State Revenue Student Fees Institutional Revenue Federal Revenue $ 6,924,955 16,492,531 6,466,922 2,215,247 1,716,086 $33,815,741

Operating Expenses: Instruction $18,506,016 Instructional Resources 1,266,387 Student Services 5,121,355 General Institutional 4,750,333 Physical Plant 2,576,265 $32,220,356

Net Revenue (Expenditures) $ 1,595,385

COVID-Related Funding

HEERF I - CARES Student Portion HEERF I - CARES Institutional Portion HEERF I - CARES SIP Portion Received as Awarded of 6/30/20 $ 488,908 $ 488,908 488,908 278,194 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 DMI Grant 50,000

WTCIT Grant 11,750 21,741 10,690 —

Total COVID-related funding $8,504,099 $ 814,327