At our board meeting last night, we passed a balanced budget that did not involve a tuition increase for NMC students. Given the current climate with COVID-19, ongoing economic shutdowns, and significant uncertainty, I could not be more proud of our staff and our board for holding true to our values.
We were able to balance our budget using reserves. Many other colleges don’t have reserves, but at NMC your board has made it a priority to save for a rainy day. And now that it’s raining, our students are benefiting from our foresight.
Minimizing tuition increases has been a priority during my time on the NMC board. This year, while many other colleges are left with no choice but to increase tuition to fill the budget shortfall. I’m very proud that NMC isn’t one of them.
If you have questions about our budget or our process, let me know in the comments below.