Report to the Community 2009 - Inver Hills Community College

Financial Information (FY 2009)
Revenue Sources Amount Percent
Tuition and Fees 17,948,265 44.72%
State Appropriation 13,242,248 33.00%
State Grants 1,253,659 3.12%
Federal Grants 3,463,582 8.63%
Auxiliary Enterprises 2,763,259 6.89%
Other 1,462,166 3.64%
Total Revenue 40,133,179 100.00%
Expenditure details Amount Percent
Instruction 13,935,218 35.38%
Academic Support 5,608,483 14.24%
Student Services 4,798,519 12.18%
Scholarship/Financial Aid 4,498,641 11.42%
Institutional Support 4,316,229 10.96%
Physical Plant Operations 3,110,422 7.90%
Auxiliary Enterprises 3,115,010 7.91%
Community Services 6,807 0.02%
Total Expenditures 39,389,329 100.00%
Expenditures
Personnel 25,181,397 63.93%
Non-Personnel 14,207,932 36.07%
FYE=Full Year Equivalents; 1 FYE=30 credit hours
Base budgetary needs are funded through state appropriations, student
tuition, fees, grants and contributions from businesses, alumni, and other
friends of higher education. The FY09 budget was created in order to hold
any tuition increase to 5% and maintain the college’s budget reserves at 5%.
12 | Report to the Community 2009 | www.inverhills.edu
0% 10% 20% 30% 40%
Ken and George Slipka
Long-time West St. Paul and South St. Paul
residents George and Jean Slipka have valued
higher education throughout their lives. To
show their appreciation for the benefi ts of a
college education, the Slipkas established the
George A. Slipka Accounting Scholarship for
Inver Hills students. The scholarship covers
tuition, fees, and books for full-time students.
George Slipka, who grew up during the
Depression, learned the importance of saving.
As an accountant for Deluxe Corporation,
Slipka built a portfolio of Deluxe stock that now
provides the basis of his philanthropy.
In addition to all the good work the Slipkas do,
their nephew Ken serves as a member of the
Inver Hills Community College Foundation
Board.