Ozarks Technical Community College will not dip into its $19.7 million reserve to cover possible loss in state funding

 
News-Leader
 
Ozarks Technical Community College has no plan to dip into its $19.7-million reserve to cover a possible loss in state funding, said Marla Moody, vice president of finance at OTC.

"We prefer not to touch it," she said.

But the community college might not add to the reserve at the end of this year, instead carrying over any surplus from this year to the next, helping balance the 2011-2012 budget, Moody said.

That would be a departure from a long-standing practice, by which the college puts any leftover money toward the reserve, Moody said.

The practice has helped OTC build a "nice" rainy-day fund over the past 20 years, Moody said.

Like Missouri State University, OTC is under no statutory obligation to set money aside.

But it goes by a general rule of thumb that it should have enough to cover five to six months of payroll expenses, or $15 million, in case of any catastrophic shutdown, Moody said.
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