Approve the recommended Unrestricted (Operating) Budget for Fiscal Year 2024-2025 (FY 2025) in the amount of $465M.

• The balanced budget identified through an orderly process must be developed and approved annually.
• The Board of Trustees engaged in budget development workshops, consistent with the annual strategic planning cycle, shall set direction and priorities for the final budget. The Board’s goal throughout this development process has been to set forth a long-term strategy to adopt a sustainable budget for the institution.
• The recommended FY 2025 Operating Budget was presented to the Board of Trustees at its meeting on May 1, 2024.
• The recommended FY 2025 Operating Budget addresses the Board’s adopted priorities as well as:
  
  • Continues to expand ongoing workforce initiatives and district-wide commitments.
  • Enhances support for advising, student support and supplemental instruction.
  • Supports scheduling enhancements and resources necessary to deliver instruction.
  • Recognizes the value of HCC’s faculty and staff.
  • Maintains the required financial reserve (DCOH) level and financial health.
  • Sustains business operations by reducing and reallocating expenses to support efforts to accomplish current goals and objectives.
  • Continues to reflect HCC’s commitment to providing education opportunities to the community.
• The recommended FY 2025 Operating Budget also includes the use of excess cash reserves of $15M. This funding will cover priority deferred maintenance identified from the Facilities Condition Assessment work performed in FY 2019.

The fiscal year 2024-2025 Unrestricted Fund (Operating) Budget totals $465M. The recommended FY 2025 Operating Budget is $66M higher than the FY 2024 Operating Budget.

Section 51.0051, Annual Operating Budgets, Texas Education Code, provides that "the governing board of each institution shall approve on or before September 1 of each year an itemized budget covering the operation of the institution for the fiscal year beginning on September 1 of each year."