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College levies optional mill; fund source controlled locally
Jun 6, 2014 - By Katie Roenigk, Staff Writer
President Jo Anne McFarland said the mill levy is expected to generate about $1 million in fiscal year 2015 and $1.05 million fiscal year ...
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President Jo Anne McFarland said the mill levy is expected to generate about $1 million in fiscal year 2015 and $1.05 million fiscal year 2016.
The Central Wyoming College Board of Trustees has voted to levy its optional mill.
The fifth mill --which is levied in addition to the required four mills --must be renewed every two years by vote of the board.
During the trustees meeting in May, CWC president Jo Anne McFarland said the mill levy is expected to generate about $1 million in fiscal year 2015 and $1.05 million in fiscal year 2016.
"The board has utilized the optional one mill for the past 24 years, and all seven community colleges in the state levy the optional mill," she said in her May report to the board.
The fifth mill "can be used for anything," according to Avelinda Paskett, CWC's director of finance.
"It's the only source of funds we control," she said. "Mostly we use it for one-time (expenditures). We just use it as we need."
The money can go toward capital projects, equipment purchases, planning and consulting contracts, utility increases, emergencies and local budget reserves. Paskett said it also serves as a safety net for the school.
"There have been years where money is very, very tight, and we use it to supplement our operating fund," she said. "We (have used it to) pay for the large insurance payments, (and) for our annual audits. So we've used it in a variety of ways."
The money can be carried forward from year to year, she added.
"That's what we try to do," Paskett said.