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Finance & Capacity Overview​

Understanding the Funding, Allocation, and Impact of the Vision 2030 Bond Program

Odessa College is Growing

Odessa College is experiencing significant growth, and as the college expands, the budget will naturally increase to support the enhanced facilities, programs, and resources needed to serve our growing community.

Students

15,000 students served annually

Course & Programs

120 degree and certificate courses of study

Faculty & Staff

Increasing staff to support growth

Graduates

32% increase year over year

Budget

Budget increasing to match expansion

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Did you
know?

In the past five years, the percentage of first time, full-time students who graduate or transfer from OC in three years has more than quadrupled. More importantly, five years after graduation, OC graduates earn more than double the wages of all other workers in the region.

Tax History 

Odessa College has demonstrated a commitment to maintaining a manageable tax rate over the years. The total tax rate, comprising both Maintenance & Operations (M&O) and Debt Service components, is currently at the lowest it's been in five years. ​

​

  • 2019-20: $0.186790

  • 2020-21: $0.188966

  • 2021-22: $0.201723

  • 2022-23: $0.188643

  • 2023-24: $0.171666

​

This data reflects Odessa College's efforts in reducing financial burdens while continuing to fund its operations and debt obligations effectively.

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Funding
Sources

Odessa College's funding is supported by a diverse mix of sources:

​

  • State Appropriations 26%

  • Tuition and Fees 25%

  • Tax Revenue 44%

  • Other 5%

 

This balanced approach ensures the college can maintain high-quality services, invest in facilities, and keep education accessible and affordable.

5%
Other Income

OC pie graph

26%
State Appropriations

44%
Local Taxes

25%
Tuition & Fees

Did you know?

The state does not provide funding for construction projects at community colleges,
leaving institutions like Odessa College to rely on local support and bond initiatives to finance the development and modernization of their facilities. This makes community investment through bonds essential for maintaining and improving the college's infrastructure.

Differences in Funding:
Universities and Community Colleges

Four-year universities can receive funds to go towards construction.
 

Any construction projects at a community college must be funded by local funds (tax revenue, tuition revenue, revenue bonds, or tax bonds).

House Bill 8 and Its Impact on Odessa College

For Fiscal Year 2023-2024:

  • Odessa College Funding: $14,145,913

  • Odessa College saw a 43.8% increase in funding.

  • Total state appropriations increased by 22.9%.

  • The average increase for community colleges was 31.6%.

Fiscal Year 2024-2025 (Draft Formula):

  • Projected funding for Odessa College is $19,331,116, a 36.7% increase.

  • Total state appropriations are projected to rise by 3.8%.

  • The average increase for community colleges is projected at 3.4%.

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Tax Impact

If approved by voters, the Odessa College I&S tax rate is estimated to increase by $0.11 per $100 evaluation, equating to about $15/month for the average household. 

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