By JALYNN VINSON, Ranger reporter:
Each student’s tuition and fees go toward supporting the budget of the college, but this is not Amarillo College’s only source of funding. College revenue comes from three main sources, local property taxes (28%), state appropriations (21%) and tuition and fees (36%), according to Steve Smith, AC vice president for business affairs.
All of the money goes toward the college’s overall operating expenses, which are divided as follows:
- Personnel expenses (72%) – salaries, matching taxes and employee benefits etc.
- Operating expenses (22%) – supplies, building maintenance, utilities, institutional scholarships etc.
- Capital expenses (2%) – audio video equipment, computer equipment, maintenance equipment etc. (Most capital expenditures are made through grants and gifts rather than the budget.)
- Cost of goods sold – (4%) – text books, tools, supplies