On Thursday the Milligan College Board of Trustees met to discuss the school’s current and future finances. In attendance were: David Hamilton, Tommy Burleson, Bill Clem, Bill Greene, Denny Mayes, John Wiggins and Jackie Steadman.
The meeting opened with a prayer from Chairman David Hamilton. He prayed for the committee to make the right decisions regarding the school’s future. The board then discussed Milligan’s short term and long term debt. The college does not have any outstanding short term debt at this time on the 1,000,000 line of credit at Carter Bank.
In regards to unaudited revenues the percentage of revenues collected for 2016-17 is at 94 percent of the amount budgeted. The majority of the remaining income will come from gift and grant income.
“The school is doing well financially and not much has changed from last year to this year,” Jackie Steadman, vice president for business and finance, said.