Finance and Funding Overview
Understanding the Bond’s Financial Impact
The Vision 2030 Bond outlines funding allocations for facility improvements, workforce training, and infrastructure projects. This section provides details on the bond’s cost, tax implications, and financial structure.
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.
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
Tax History
Odessa College’s total tax rate, including Maintenance & Operations (M&O) and Debt Service, is at its lowest in five years.
2019-20: $0.186790
2020-21: $0.188966
2021-22: $0.201723
2022-23: $0.188643
2023-24: $0.171666
This reflects ongoing efforts to manage costs while funding operations and debt obligations.
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.
Differences in Funding
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).
Tax Impact
If approved by voters, the Odessa College I&S tax rate is estimated to increase by $0.098 per $100 evaluation, equating to about $13.65/month for the average household.