Pima is at limit with expenditures
By JOE GIDDENS
Pima Community College’s finances are in excellent shape because a majority of its income is from property taxes.
These are increasing, but the trend of lower enrollment means less tuition revenue and makes up about 30% of the college’s income, according to David Bea, chief financial officer for Pima.
The remaining 3% of the college’s income comes from sources such as investments, which has also seen growth in recent years. Last year, the college received $3 million from returns on investments that allowed for a number of one-time projects focused on increasing enrollment. Investment earrings are outside of expenditure limitation.
This one-time influx of cash to the college was used by the Pima College Board of Governors on initiatives to increase enrollment such as the...