RVCC 2019 NECHE Self-Study

Description
River Valley Community College is funded primarily from tuition and fees revenue, and
from the funds appropriated from the State Legislature as part of their biannual budgeting
process. Between 2016 and 2019, the percentage of state allocations between the
colleges increased for the smaller, rural colleges. In 2019, the state allocated $5,610,017
to RVCC, an increase over the past three fiscal years, allowing RVCC to rely less on tuition
and fees (Figure 7.1). This helped maintain financial stability during a time of decreasing
enrollment.
Figure 7.1: RVCC Funding 2016-2019
River Valley’s tuition and fees have varied over the past four years, ranging from
$4,140,465 in FY16 to $3,912,443 in FY19. This variability is a result of both a declining
student population and an increase in tuition and fees. For example, in FY18 after several
years of declining enrollment with no change in tuition, the BoT voted to increase our per
credit tuition amount from $200 to $210, with another needed increase in FY19 to $215
per credit. The FY19 increase coincided with an additional increase in the RVCC student
fee (calculated on a per credit basis) from $5/credit to $9/credit. This student fee increase
occurred due to the removal of the graduation fee.
When comparing average revenues between FY16 and FY18, our actual revenues have
been funded 52% by the State of NH legislature appropriations via the CCSNH system
office, 39% through tuition and fees, and 9% comes from other sources such as Grants,
Workforce Development, Facility Rentals and Bookstore Commissions (Table 7.1).
Table 7.1: RVCC Revenue Sources FY16 – FY19
Revenue FY 2016 FY 2017 FY 2018 Average
Sources
Tuition and
Fees
$ 4,140,465 $ 3,852,025 $ 3,795,393 39%
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