ACC board OKs budget, raise
President slated to retire next June will donate $15,000 boost
Austin Community College District President Stephen Kinslow, who in June announced his coming retirement, got a $15,000 salary boost Monday from the ACC board, but he’ll never see it.
Instead, Kinslow, who will leave ACC next June after six years as president and 33 years at the college, will give that money to the ACC Foundation to endow a “president’s scholarship.”
Also on Monday, the board unanimously adopted a $235 million 2010-11 budget for the rapidly growing school, a 3.8 percent increase from 2009-10. The budget does not include an across-the-board raise for employees. However, by dropping property tax exemptions on designated historic homes and commercial buildings, the college will generate about $250,000 to give
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full-time permanent employees $100 to $200 one-time payments.
The budget for the next fiscal year, aside from property taxes and federal grants, will also be boosted by added revenue from a tuition increase — $3 per credit hour, or 7.7 percent, for in-district students — that ACC trustees approved in May. Given that home values have fallen 4.7 percent within the ACC taxing district and that the tax rate of about 9.5 cents per $100 of value will be essentially unchanged, the portion of property tax bills related to ACC is estimated to decrease.
On the average-value home, $246,898 after exemptions, tax bills are estimated to fall by about $12.50. Property tax rolls will be certified later this summer.
ACC’s property tax for operations and maintenance is set by law at 9 cents per $100 of value. The other portion of the tax bill, which pays off debt, this year was 0.46 cents per $100 of value. It will likely increase slightly because housing values in the district have fallen.
The board will set the exact tax rate after the total value of district property Stephen Kinslow has led ACC since 2005. is solidified in August, said Ben Ferrell, ACC’s executive vice president for finance and administration.
Trustees approved the change to Kinslow’s contract Monday as they approved a process to search for his replacement. Officials have said they expect to name a new president next summer.
ACC’s benchmark fall enrollment has grown 30 percent since 2005, when Kinslow got the top job, rising to 37,850 last fall. A new campus in Round Rock, parts of which are in the ACC taxing district, is under construction and on track to open in the fall.
Since mid-May, ACC has allocated $35.4 million to buy land for potential campuses in Austin, Bastrop, Elgin, Kyle and Leander. The Austin purchase includes 18.5 acres from Dillard’s Inc. at Highland Mall for offices, classrooms and future expansion. The college currently has seven main campuses.
Voters in the Bastrop, Hays, Elgin, McDade and San Marcos school districts could decide in November whether to join the ACC taxing district.