Value

Institutions are often assessed by their value in two areas—offering its consumers a high-quality product at the most reasonable price, and by demonstrating to its stakeholders a strong commitment to financial responsibility and trustworthy practices. Heartland Community College recognizes these obligations, and is dedicated to proving its value to the community it serves. It is important to realize that:

• The creation of Heartland Community College District 540 has helped local taxpayers save millions of dollars each year by not being annexed into adjacent community college districts. Heartland’s existence lessens the cost of higher education in the community while also providing residents affordable access to their own community college.

• The gap between undergraduate tuition costs at community colleges and public four-year universities throughout Illinois continues to expand, resulting in increased enrollment at Illinois community colleges. Heartland strives to maintain its affordability and high academic quality so that students and families can experience the benefits and lifetime value of a college education.

• The Illinois Community College Board’s 2007 Unit Cost Report indicates that Heartland Community College’s instructional costs have averaged 28 percent less than the averages for Illinois community colleges over the last four years.*

• Heartland’s annual budget development is based on a conservative strategic planning model to maintain quality instruction even in the face of static state budget support for higher education.

• The College issues a comprehensive annual financial report (CAFR) that provides statistical information, supplemental financial reports, management narratives and other recommended and required reports. Heartland’s CAFR has been awarded the “Certificate of Achievement for Excellence in Financial Reporting” by the Government Finance Officers Association (GFOA) for the past eight years. An audit of Heartland’s financial operations is conducted annually, and the College rotates its external auditors on a 3-5 year basis.

• A financial report is presented to the Board of Trustees at their monthly meeting which also is available to the public. The report includes a listing of bills paid in the prior month, a Treasurer’s Report of Investments, and Statements of Revenues and Expenses by fund.

Education takes place beyond the classroom. Heartland’s College Development Plan focuses on maximizing value and quality for all of its district residents, whether they are students, business owners, seniors, children or community organizations.

* Illinois Community College Board May 2008 Data and Characteristics