College of DuPage Board of Trustees Approves FY21 Budget

By: Jennifer Duda

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College of DuPage Board of Trustees approved the Fiscal Year 2021 budget at its regular meeting on Thursday, June 25, following a scheduled public hearing.

The $342.1 million expenditure budget for the fiscal year focuses heavily on the institutional priority of student success while maintaining a stable financial position in light of the anticipated impact of COVID-19. The fiscal year begins July 1, 2020 and ends June 30, 2021. Highlights include:

  • Improved student success, retention and recruiting initiatives to better serve current and future COD students along their educational paths.
  • Expansion of the College’s Math Transitions and Dual Credit programs to better support educational opportunities to local high school students.
  • Support for Project Hire-Ed, the College’s apprenticeship program that aims to close the gap that local business leaders have identified between the skills set of some recent high school graduates and what is needed in the workforce. 

“The FY 21 budget provides the resources needed to sustain core institutional programs, undertake new initiatives that will enhance the value of College services to its stakeholders, and maintain current excellent condition of College facilities,” said College of DuPage President Dr. Brian Caputo.

View the budget and additional financial documents.

The College’s annual budget is the culmination of six months of work, during which input is solicited from the college community and institutional needs are identified, prioritized and resourced.

“Our finance team does a tremendous amount of work to create this document and they have once again done an excellent job prioritizing and balancing our resources,” said Board Chairman Frank Napolitano. “This year was certainly not without its challenges. We expect the pandemic will impact our enrollment, but we are in a strong financial position and have made adjustments to ensure our students continue to receive the quality education they expect from College of DuPage.”

Board Secretary Daniel Markwell, who also heads the Board’s Budget Committee, said committee members meet regularly throughout the process, working with Budget Manager Bob Hayley and the budget and finance team to finalize the document, said Board Secretary Daniel Markwell, who also heads the Board’s Budget Committee.

“My thanks to Bob and the team in Finance for all of their work on this document, which moves the College forward securely,” he said. “The final document truly reflects the thought and effort you put into creating this budget and I am proud to have been involved.”