State cuts throw wrench into Three Rivers College budget

POPLAR BLUFF -- Three Rivers College trustees approved a balanced budget last week for the 2015 fiscal year, but will come back in July to cut $673,000 from it because of withholdings from the state.

State withholdings represent about 3 percent of TRC's $26 million budget, said chief financial officer Charlotte Eubank after the board's monthly meeting. Three Rivers also absorbed $84,000 in state withholdings from the budget after an announcement in May.

The current budget year ends Monday.

Trustees said they are confident college leaders will make the necessary cuts to balance the new budget.

"It's going to be hard, obviously," said trustee Phil Davis of Ripley County. "The cabinet had done a really good job with the budget managers in getting a balanced budget. I feel confident they will get a balanced budget again."

The college has to deal with withholdings this time every year, said trustee Darren Garrison of Piedmont.

"The governor and the Legislature are in a tug-of-war, with education in the middle," Garrison said. "We'll cinch our belts and do the best we can."

The cuts likely will be a collection of items from many areas, Eubank said.

All of the $673,000 represented new money for the college.

About $150,000 had been allotted by the state for specific operations at off-campus sites and community outreach, Eubank said.

Another $250,000 was lost in sector equity money -- funds designed to make state support of community colleges more fair compared to four-year institutions.

About $250,000 also was lost from an expected 5 percent increase to core funding.

Interim college president Dr. Wes Payne said these cuts would be among his top priorities, second only to making the announcement to employees last week of the change in Three Rivers leadership, when Devin Stephenson resigned.

Payne planned to meet with other administrators to see how they could find a solution to match the funds the governor took away.

The college's ability to handle the challenge will depend on whether enrollment continues to climb, said board of trustees chairman Randy Grassham of Van Buren, Missouri.

"If we have to put other projects on hold, we will," he said.

Trustees also approved a separation agreement with Tinnin Fine Arts Center director Robert Cook, whose last day of employment was May 22. He will continue to be paid his regular salary in June and July. The agreement does not indicate why Cook agreed to resign, which he started in August 2012 at a salary of $45,000 a year.