CCAC eyes borrowing amid lower enrollment
Officials at the Community College of Allegheny County are weighing whether to borrow money to improve the school's financial condition amid a 7.79 percent decline in enrollment this fall.
College officials originally budgeted for a 2 percent to 3 percent decline from 2012-13 when full-time equivalent enrollment was 13,351.
“We projected a readjustment of enrollment, especially given the historic high levels of enrollment that CCAC, as well as other community colleges, experienced during the height of the recession and immediately thereafter. We are now experiencing a return to more normal enrollment levels,” CCAC President Alex Johnson said.
Although the college ended the 2012-13 year with a $3.7 million surplus, the decline in enrollment prompted officials to consider contingency plans to bolster the school's $112.5 million operating budget.
“We need to take steps to ensure we have adequate operating funds, just in case,” said state Sen. Jay Costa, who chairs the finance committee for CCAC's board of trustees.
Acting at his request, trustees on Thursday unanimously approved a motion to advertise for counsel to advise CCAC on the costs of issuing a bond or obtaining a line or credit.
Debra Erdley is a staff writer for Trib Total Media. She can be reached at 412-320-7996 or firstname.lastname@example.org.
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments â either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.