College District OKs Spending Reserve Funds
Following last month’s announcement that the state would cut spending for building improvements and library supplies, Ventura County Community College District trustees voted this week to pull about $1 million from reserve funds.
The unanimous decision Tuesday night at the board’s regular meeting means trustees have reduced the district’s budget reserve to about $4 million, officials said.
The transferred money will pay for architectural plans for a proposed $27-million learning center at Ventura College; for computers, books and periodicals at all three campuses; and for an assessment of energy consumption districtwide.
The decision to dip into the reserve follows Gov. Gray Davis’ new spending plan approved in July, which eliminated funding for such projects, said Patricia Kistler, a district spokeswoman.
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