The Warren County Finance & Budget meeting held on June 6, 2025, focused on the financial outlook and budgetary considerations for the upcoming fiscal year. The meeting began with a presentation by Dr. Duffy, who discussed the college's strategic plans and the importance of preparing for future funding opportunities, particularly in light of the anticipated growth from GlobalFoundries and the implications of the Chips and Science Act. Dr. Duffy emphasized the need for a $33 million investment, which would require a state match of 50%, highlighting the college's proactive approach to securing funding for facility improvements and student preparedness.

Following Dr. Duffy's remarks, the discussion shifted to the budget for the 2025-2026 fiscal year. The budget process was described as a critical exercise in financial stewardship, with a focus on balancing revenues and expenses. The fiscal year for the college runs from September 1 to August 31, which differs from the traditional June 30 fiscal year used by many educational institutions.

The budget presentation outlined the primary sources of revenue, which include student tuition, county sponsorship from Warren and Washington Counties, state aid, and other smaller revenue streams. Notably, state aid has remained flat over recent years, which poses challenges as expenses continue to rise due to increased costs in health insurance and utilities. The college aims for a balanced revenue model, ideally distributing costs evenly among local support, state aid, and student tuition.

The meeting also addressed the college's expense management strategies. The budget reflects a conservative approach, with careful consideration given to ongoing operating costs, personnel changes, and strategic investments. Key personnel positions have been left unfilled to manage costs, and equipment purchases have been deferred to maintain financial stability. Despite these measures, the college anticipates a need to draw $397,000 from its fund balance to meet budgetary requirements.

In conclusion, the meeting underscored the college's commitment to fiscal responsibility while preparing for future growth and investment opportunities. The discussions highlighted the importance of collaboration with county sponsors and the need for sustainable financial practices to ensure the institution's longevity and ability to serve its students effectively. Further updates and decisions regarding the budget will be forthcoming as the college navigates these financial challenges.