Finance
Illinois community colleges receive funding from three major sources: local property taxes, student tuition and fees, and state appropriations. By statute, each local community college board of trustees may set tuition rates for its indistrict residents including variable rates for each of its programs, terms, time of enrollment, courses, delivery method, or other identifiable grouping of courses as long as the weighted average of the tuition for all credit courses including adult education is no more than 1/3 the college district’s per capita cost. The method of calculating the per capita cost is as prescribed in Section 6-2 of the Illinois Community College Act. Community colleges also receive revenue from a variety of other federal, state, and local sources. For example, the Illinois State Board of Education distributes grants for adult education and vocational education in support of specific instructional programs.
Read more about this topic: Illinois Community College System
Famous quotes containing the word finance:
“A bank is a confidence trick. If you put up the right signs, the wizards of finance themselves will come in and ask you to take their money.”
—Christina Stead (1902–1983)
“Imperialism is capitalism at that stage of development at which the dominance of monopolies and finance capitalism is established; in which the export of capital has acquired pronounced importance; in which the division of the world among the international trusts has begun, in which the division of all territories of the globe among the biggest capitalist powers has been completed.”
—Vladimir Ilyich Lenin (1870–1924)
“There is an enormous chasm between the relatively rich and powerful people who make decisions in government, business, and finance and our poorer neighbors who must depend on these decisions to alleviate the problems caused by their lack of power and influence.”
—Jimmy Carter (James Earl Carter, Jr.)