Three Rivers College trustees approve $39 million budget

On Wednesday, the Three Rivers College Board of Trustees approved a nearly $39 million buget for the fiscal year that begins July 1.

Of that amount, $12 million is designated for capital improvement projects, including a $9.6 million for a new athletic complex.

It will be called the Libla Family Sports Complex and is expected to begin construction in July or August.

TRC has received a $2.5 million FEMA/SEMA grant for a section of the facility to serve as a tornado shelter.

"The FEMA section will be completed in July 2016," said president Wes Payne. "The rest of the building will be completed in December 2016."

Meanwhile, the TRC's 2014-2015 budget was $26 million for operating expenses and $9.9 million for capital projects.

"Salary and benefits have increased from the previous year to reflect 3 percent cost of living adjustments at a cost of approximately $555,000," said TRC chief financial officer Charlotte Eubank.

She said salaries and benefits make up 56 percent of the operating budget.

Tuition and fees, which provide the most revenue, total $13.7 million, or 51 percent.

Other sources of revenue include $4.7 million in state appropriations, $3.3 million in auxiliary enterprises, $2.1 million in federal grants, $1.9 million in property taxes, among other, smaller, amounts.