Ark. community college may have $1.6 M shortfall - KAIT Jonesboro, AR - Region 8 News, weather, sports

Ark. community college may have $1.6 M shortfall

 

BENTONVILLE, Ark. (AP) - An Arkansas community college may have a $1.6 million shortfall.

Projections show NorthWest Arkansas Community College took in more than $37.4 million by June 30 and spent more than $38.6, leaving it about $1.1 million short. However, officials believe the final amount will be larger.

President Becky Paneitz told the Benton County Daily Record that a carryover of surplus money from previous years will cover the loss.

State lawmakers say the college must turn its finances around.

Sen. Sue Madison said public bodies should be more careful when using carryover money and that operating budgets need to come from a stream more reliable than reserves.

Raises were given to the college's administrators during the 2012 fiscal year, and others received salary increases for the 2013 fiscal year.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

 

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