Eastern Idaho Technical College
Standard 2.F Financial Resources
2.F.1 Financial Stability
Eastern Idaho Technical College’s financial planning reflects available funds, realistic
development of financial resources, and appropriate risk management to ensure short-term
solvency and anticipate long-term obligations. The College is funded primarily through the
Idaho State Division of Professional-Technical Education (PTE). PTE funding covers personnel
costs for the majority of full time employees, and covers many costs for maintenance and
operation of the college. Major vital expenses not covered by PTE include enterprise
management software costs (Colleague) and campus security contract costs, each of which are
approximately $110,000 annually. Fees from full- and part-time students cover these costs.
EITC pursues a very conservative approach with regard to its cash reserves, which have been
generated by adult education courses, part time student fees and other revenue-generating
programs. No comprehensive plan exists for the investment of these funds. If bank balances
exceed reasonable balances, money is placed into state treasury accounts, particularly fund
0650-00, for investment by the state.
Other than multi-year leases for minor equipment and services, the college has no long term
debt. Future (long term) liabilities are limited because the college does not have authority to
issue bonds and thereby incur long term debt. Risk for property, liability and other insurance
policies are managed by the state’s Office of Risk Management.
2.F.2 Resource Planning and Development
EITC’s planning and development includes realistic budgeting, enrollment management, and
responsible projections of grants, donations, and other non-tuition revenue sources. The
budgeting process is a year-round function. Budgeting is broken down into short term (annual)
and long term planning. Currently, long term budget planning is limited to projection of capital
equipment needs to meet emerging technology demands or for replacement of existing
equipment. The foremost reason for this limitation is that the primary funding source is from
PTE and is not known until shortly before the start of the next fiscal year.
Enrollment is managed using a system of program advisory councils. As a professional-technical
college, EITC is required to track placement of graduates into jobs related to the training and
education received at the college. Advisory councils project the availability of jobs when a
course of instruction is expected to complete and enrollment for that program is restricted
based on anticipated job availability. Part-time students are admitted only to the extent that
seats are available in class sections established for full time (matriculated) students in
EITC grants are almost entirely provided through PTE or through the EITC Foundation.
Approximate PTE grant levels, including grants provided through the Carl D. Perkins Vocational
and Technical Education Act, are known sometime in March and staffing and activity levels are