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07/08/2008
Rensselaer County Legislature Approves College Budget
Hudson Valley Community College 2008-09 Budget Highlights

CONTACT: Paula Monaco (518) 629-8071 or (518) 378-3835 – cell or monacpau@hvcc.edu
FOR RELEASE: Immediate, Tuesday, July 8, 2007

The 2008-09 operating budget for Hudson Valley Community College was approved by the Rensselaer County Legislature on July 8. The budget, which was also approved by the college’s Board of Trustees on May 22, totals $94,548,333.

Enrollment

Enrollment for fiscal year 2008-09 is projected to be 8,799 full-time equivalent students (FTE).

Tuition

This budget increases tuition by $100 (or 3.5 percent); tuition is being recommended at $1,450 per semester ($2,900 annually) for all full-time students who are New York State residents and $120 per credit hour (an increase of $4 per credit hour) for part-time, in-state students.

This 3.5 percent tuition growth is less than the 3.7 percent Higher Education Price Index. The Higher Education Price Index (HEPI) is an inflation index that is a more accurate indicator for higher education than the Consumer Price Index. Tuition was also increased $100 in the last academic year. Even with this increase, it is expected that Hudson Valley will continue to be one of three community colleges in the state with the lowest tuition.

The college is keenly aware that, for many of its students, even an increase of $100 can present a challenge. College Financial Aid staff educates students about available financial aid and the financial aid application process. Staff hold workshops throughout the course of the year and helps students file their Free Application for Federal Student Aid online.

In addition, the college’s charitable foundation manages more than 100 scholarships and expects to provide students during the 2007-08 fiscal year with $285,000 in scholarships.

State Aid

This budget does not include an increase in base state operating aid; state aid to community colleges remains at $2,675 per FTE and is budgeted at $24,123,744.

County Revenue

The college is not requesting any additional funding support from its sponsor, Rensselaer County. The sponsor contribution will remain at $3,138,900. The county chargeback rate will remain the same from 2007-08 budget.

Personnel

The 2008-09 budget contains three new positions: a Heating, Ventilation, and Air Conditioning Mechanic and two Academic Advising Specialists.

New Academic Initiatives

This budget further expands the college’s academic offerings. Key new initiatives for the 2008-09 academic year include:

    • The new Honors Program is designed to prepare academically advanced students for transfer to high-quality baccalaureate programs. By providing a rich environment that encourages scholarship, faculty/student relationships, active participation in the community, and an emphasis on connecting learning to life, honors students will have a challenging and enriching experience at Hudson Valley.
    • The new associate’s degree in Theatre Arts will be a balanced and comprehensive course of study that develops students’ interest and experience in the theatre arts and provides a broad-based academic foundation for further study and career opportunities.
    • On December 27, 2007, President Bush signed a Fiscal Year 2008 Federal Omnibus Appropriations bill that included $478,492 for a new evening/weekend nursing program at Hudson Valley. This is the very first time the college has received a federal earmark.

More than 250 students at Hudson Valley Community College are waiting to enter the college’s Nursing Program, and more than half of those students have completed their prerequisite courses.

The college is unable to expand the program without additional external funding because it currently has an annual per-student revenue gap exceeding $10,000.

Founded in 1953, Hudson Valley Community College offers more than 70 degree and certificate programs in four schools: Business; Engineering and Industrial Technologies; Health Science; and Liberal Arts and Sciences; and an Educational Opportunity Center for academic and career training. One of 30 community colleges in the State University of New York system, it has an enrollment of more than 12,000 students, and is known as a leader in distance learning initiatives and workforce training. Hudson Valley has more than 64,000 alumni.