The raises and bonuses will cost Sinclair $2.3 million, meaning the school will spend a total of $101.5 million on compensation in fiscal year 2019, which starts on July 1. Sinclair trustees approved a budget a year ago that also gave full-time faculty and staff the opportunity for a 2.5 percent raise and made some eligible for a one-time award of 2 percent of their base salary.
Overall spending at Sinclair will increase by 2.1 percent to $130.1 million in FY 2019 but the increase will be offset by a jump in revenue. Sinclair’s revenue is expected to increase in FY 2019 by 3.7 percent to $142 million, which is mostly the result of increased tuition and fees, state funding and levies, according to the budget.
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“The budget presented is consistent with the college’s long-range financial and sustainability goals,” said Sinclair president Steve Johnson.
Sinclair increased its auxiliary fee by $35 last year, netting the school another $1.6 million in revenue. Community colleges are also able to increase tuition by $10 for the 2018-2019 school year, which both Sinclair and Clark State Community College have planned to do.
Voters in November also widely approved a $28-million renewal levy for the community college based in downtown Dayton.
The state measures every public college’s fiscal health with something called a “Senate Bill 6 score,” an annual rating of 0 to 5.
Any school that falls below a 1.75 two years in a row is put on notice. Sinclair received a “perfect 5.0 financial rating” this year, said board of trustees chairman Rob Connelly.
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“Sinclair is a special and world leading place because of the great people that work here on behalf of our students,” Connelly said. “This has been an extraordinary year for Sinclair.
Separately, trustees approved more than $1.3 million to renovate a portion of Building three downtown to add three biology labs. Bilbrey Construction of Dayton has been contracted to do the renovations.
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