NORFOLK, Neb. – The Northeast Community College Board of Governors has approved the institution’s 2025-26 fiscal year budget, reinforcing its commitment to student success, workforce development, and long-term sustainability across its 20-county service area.
This marks the second year under Nebraska’s Community College Future Fund, which has replaced the traditional property tax-based funding model. As a result, Northeast’s reliance on local property taxes has been significantly reduced. The Future Fund comprises approximately 50% of the College’s General Fund revenue, which will increase by either 3.5% or by the percentage growth in student enrollment, whichever is higher. Other major forms of revenue are state aid and tuition, both of which are predicted to decrease.
The approved 2025-26 tax supported budget totals $73,647,980, including:
- $60,742,945 in operating expenses
- $12,905,034 in building improvements
This reflects a decrease from the 2024-25 tax supported budget of $78,473,924, which included:
- $61,263,645 in operating expenses
- $17,210,279 in building improvements
The total budget, including all self-supporting auxiliary funds and grants, is $109,584,011, down 11% from last year’s $122,872,985.
As the state assumes greater responsibility for community college funding, Northeast no longer has the authority to levy property taxes for its general fund. This shift may require increased reliance on alternative revenue sources to maintain balanced operations and continue delivering high-quality education.
“Our responsibility is to balance fiscal realities with our mission,” said Leah Barrett, president of Northeast. “Through strategic planning, resource alignment, and a focus on workforce needs, we remain committed to delivering high-quality education and training across our region.”
College leaders emphasized the importance of proactive financial planning to ensure long-term sustainability. While reserves have helped bridge budget gaps, they are not a long-term solution.
“Reserves have served as a temporary bridge, but they cannot be relied upon to cover ongoing budget gaps indefinitely,” said Scott Gray, vice president of administrative services.
“I fully support the college’s commitment to proactive financial planning as a foundation for long-term sustainability,” said Jeff Scherer, chairperson of the Board of Governors. “While reserve funds have been instrumental in helping us manage recent budget challenges, they are not a lasting solution. We must continue making strategic, forward-looking decisions to ensure the institution remains strong for future generations of students.”
The board approved the budget 10-0, following a public hearing.
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