By Brian Koonce
HANNINBAL – The semester is beginning to wind down as students prepare for finals, and Hannibal-LaGrange College (HLG) is ending the year on a high note. Trustees heard positive financial reports and approved the list of 106 candidates for December graduation during their Nov. 20 meeting.
For the fiscal year through Oct. 31, the college was firmly in the black with revenue of $8.84 million and expenses of $7.1 million. The 2009-10 budget is $18.6 million.
A few positive months in the stock market gave HLG’s endowment fund investment a shot in the arm. On June 30, the endowment was at $2,175,000; it now is at $2,970,000.
“Third quarter earnings have really helped us in our investments,” Betty Anderson, dean of business and finance, said. “Everybody has been having a difficult few years, but it’s looking much better this year.”
Trustees heard at their last meeting that enrollment was at an all-time high, and the college’s enrollment management team is looking for that trend to continue through to the spring.
“In this economy, some private schools have not been successful,” said Ray Carty, vice president for enrollment management. “We feel like we have been successful.”
HLG enrolled 1,081 students this fall and a record 508 students living on campus. The number of students has declined just slightly, but the number of hours those students are taking is up.
“In the long run, that’ll mean a stronger institution for us,” Carty said.
Looking ahead, Carty said applications for the fall 2010 semester are about 10 percent ahead of where they were last year at this time.
David Pelletier, vice president for academic affairs, reported that HLG is in the process of applying to join the Council for Christian Colleges and Universities (CCCU), an organization that offers training to administration and faculty in best practices, professional development and publications.
The board will next meet Feb. 19 on the HLG campus.