The Paris Junior College Board of Regents received the 2021-2022 audit report and results from a national data report at their monthly meeting held Monday, Jan. 22, 2023. The regents approved the audit report.
“That’s a clean opinion on these financial statements,” said Teffany Kevanaugh, CPA, of McLanahan and Holmes, for the College and the PJC Memorial Foundation. “We’re happy to report we did not have any difficulties with management in getting the audit done.”
The Integrated Postsecondary Education Daya System (IPEDS) report is based on data PJC submitted to the federal government, along with about 7,000 other institutions. PJC received a report comparing it and 22 other Texas colleges in the medium category.
For an academic year, PJC tuition and fees are $2,460, lower than the peer average of $2,535, and price of attendance (tuition and fees plus books, supplies, room and board) is $5,304 compared to the average of $6,563.
PJC has more students on some form of financial aid – 84 percent compared to 70 percent peer average, and 59 percent of PJC students are on PELL compared to 49 percent average.
PJC’s graduation rate is 34 percent, compared to 25 percent at peer colleges. The graduation rate is based on first-time, full-tme degree seeking students coming to the institution for the first time.
PJC’s full-time equivalent (FTE) staffing is lower than peers while average faculty salaries at PJC are higher than peers ($59,821 compared to $56,427 peer college average).
PJC relies more heavily on state appropriations than peer colleges: 24 percent compared to 20 percent, while local tax dollars make up nine percent of revenues compared to 25 percent at peer institutions. Tuition and fees are 17 percent of revenues compared to 14 percent peer average.
Finally, PJC spends less per FTE in core expense categories than peers for instruction (PJC at $3,341 compared to $5,053 average), academic support of $448 compared to $956, and institutional support of $1,190 compared to $2,280. PJC spends $1,127 compared to the average of $1,281 on student services.
In other business, the Regents:• Gave required annual approval to the Investment Policy – CAK (LOCAL). The policy had no changes from last year.• Accepted the Local Policy Update #44 from the Texas Association of School Boards Policy Service. The update provided more local details for regent elections.• Learned during the President’s Report that preliminary spring enrollment showed an increase in contact hours from both one and two years ago. The HVAC renovation in the Administration Building is largely meeting the timeline and offices should be able to move back into the building in February. • Accepted the promotions/reassignments of Selynthia Martin as Educational Opportunity Center Student Support Services Coordinator and Madison Wells as Upward Bound Advisor; the employment of Sara Pierce as Educational Talent Search Advisor; and the resignations of Small Business Development Center Director Jennifer Johnston, Information Technology Director Eddie Mahar, and EOC SSS Coordinator Courtnie Wittkopf.
