CALMAR - Northeast Iowa Community College's board of trustees have approved a fiscal year 2008-09 budget that includes a mixed bag for tax payers.

Officials are estimating $4.52 million in property and utility replacement taxes, $239,282 less than the current year. Tax askings for next year were set at 55.713 cents per $1,000 of taxable valuation, a decrease of about 5.558 cents.

That figure, however, doesn't include tax payments for a $35 million bond, approved by voters earlier this spring, which is aimed at improving facilities on the Calmar and Peosta campuses. That tax rate, estimated at 42 cents per $1,000 of taxable valuation, is a separate tax levy.

One reason for the decline in askings was because an early retirement program for employees was discontinued. That represented $380,000, according to budget figures.

"It may come back later, but it's not currently being levied for," said Tom Ridout, NICC director of accounting services.

Early retirement was one of eight categories that were levied through property taxes. Two other areas - insurance and tort liability rates - were also reduced.

Trustees approved a $41.74 million budget for the fiscal year starting July 1, an increase of 4.8 percent.

Revenues are estimated at $41.75 million, an increase of $2.8 million from this year.

Tuition is going to be one of the NICC's largest sources of income. Trustees estimated a 5 percent increase in tuition, though that hasn't been approved yet, Ridout said. Neither has a projected 6 percent increase in state funding, though it has been budgeted. The college is asking for $8.9 million in state aid.

Property valuations in the district went up by 4.6 percent to $7.9 billion in the district, which covers all or portions of 13 counties. The increase ranked lower among the 15 community college districts.

"That's new building, new taxes coming onto the roll, and that's what caused the value to go up," Ridout said.

Voters approved the bond referendum Dec. 11, on its second try, with 62 percent of the vote. The bond will help pay for a series of infrastructure and technology upgrades at both campuses.

In Calmar, administrators intend to renovate the Max Clark and Wilder buildings. A new student services center also is in the plans, which would bring financial aid, registration and admissions offices under one roof. In Peosta, the money will help construct an industrial technologies building.

Ridout said the college has until April 1 to estimate how much of the bond NICC will need for next year's projects. Architects and engineers are working on the final figures, he said.

Contact Josh Nelson

at (319) 291-1565

or josh.nelson@wcfcourier.com.