The Seminole State College Board of Regents approved the budget for the upcoming fiscal year at their meeting on June 16. This year’s budget includes reinstating institutional contributions to employee 403(b) retirement plans.

During the meeting, President Lana Reynolds provided an update on personnel changes, enrollment and news on the College’s sports teams.

Then the Board reviewed and approved the Educational and General Budget for the 2022 fiscal year. For the second year in a row, SSC will not increase tuition or fees. The Board officially reinstated contributions to employee 403(b) retirement plans. After an employee has completed one year of full-time employment, the College President may authorize a contribution of an amount equal to 3.5% of the employee’s salary into a qualified tax-sheltered IRC 403(b) plan. The contributions were suspended last year due to budget uncertainties related to the COVID-19 pandemic and decreases in enrollment.

“We feel very fortunate that our finances are stable, and we were able to propose this action,” President Reynolds said.

Contributions to the employee retirement plans costs the College approximately $260,000 annually.

Under the consent agenda, the Board approved several contractual agreements in the coming year, including services with Brightspace for use of its online learning platform, DocuSign, Inc. for online course services, and a lease for the use of Oiler Park.

Board members present at the meeting were: Chair Curtis Morgan, Marci Donaho, Kim Hyden, and Ryan Pitts.

The next SSC Board of Regents meeting is set for Thursday, July 15, 2021.