Illinois Eastern Community Colleges officials expect to spend about $6 million more than they take in during the coming fiscal year.
But while IECC trustees have adopted a tentative deficit budget for 2022-23, that doesn’t mean the district doesn’t have the money it needs to pay its bills.
During its meeting Tuesday at Olney Central College, the board adopted a tentative budget that anticipates $32 million in operating revenues and $38 million in operating expenses.
Much of those expenditures, however, are one-time capital outlays that will be funded using federal stimulus funds, Chancellor Ryan Gower told the Daily News.
“We had a huge influx of funds,” Gower explained. “It’s money we received in 2021 and ‘22 and will spend in 2023.”
Among the items included in the budget that will be paid for using federal dollars is the long-awaited Lincoln Trail College tech center. IECC also intends to use stimulus funds to update its vehicle fleet and to purchase career training equipment.
“These are one-time items supported by federal funds,” Gower added.
As for the rest of the budget, payroll and benefits continue to account for about 32 percent of all costs, the single largest source of expenses.
State funds account for 26 percent of revenues, while tuition and student fees contribute another 24 percent. About 17 percent of all revenues come from local property taxes, Gower said.
The proposed budget will be on public display at the district office, 233 East Chestnut, Olney, on and after Friday, June 24 
A public hearing on the budget was set for 6:15 p.m. Tuesday, Aug. 16, at Frontier Community College, Fairfield. Until then, the tentative budget will be available for public inspection at the District Business Office, 233 E. Chestnut Street, Olney.
IECC’s fiscal year begins July 1.
Several other financial matters also were approved during the meeting. For example, the trustees agreed to allow the district to pay accrued bills for a short period following the end of the fiscal year June 30.
By July 30 all accrued bills received during this run-out period will be paid. A report will be given to the board the following month.
Also, resolutions were adopted authorizing the permanent transfer of about $80,000 in interest earned in the Working Cash Fund to the General Fund; authorizing inter-fund loans during the 2022-23 school year, with the loans to be repaid to the original fund within one year; and authorizing certain expenditures from the Operations and Maintenance Fund, such as custodial salaries.
The board approved coverage of the district’s property, casualty and liability Insurance with Wright Specialty.
An affiliation agreement was approved between the district and Deaconess Hospital’s Henderson, Ky., location.
Lease agreements for various properties throughout the district were renewed.
Special assignments for the coming academic year were approved for all four colleges, including lead instructors, advisors, coordinators, managers, directors, some athletic personnel and operations and maintenance team leaders.
The next regular board meeting will be 6:15 p.m. Tuesday, July 19, at Wabash Valley College, Mt. Carmel.