The budget is a 3.6 percent increase from the $46.3 million budget approved last year, and a 5 percent increase over last year's actual spending of $45.7 million, according to a budget summary.
The budget includes a $97,400 package of strategic initiatives ranging from a biotechnology academy and center for campus unity to a rock climbing wall and rope course.
The budget increase can be attributed to expected higher energy costs in the way of natural gas and fuel, as well as new costs related to technology software and hardware upgrades, college Treasurer Michael Mayher said.
In other business, the trustees accepted a capital plan that lays out physical improvements that will be needed over the next six years at the Kirtland campus.
By accepting the plan rather than approving it, Lakeland President Morris W. Beverage Jr. said the college retains a level of flexibility if the projects require future adjustments.
"Our needs to invest in additional space, space renovation and the infrastructure continue to remain a critical priority," the college states in its written proposal to the Ohio Board of Regents.
The project would cost $11 million, and Lakeland is requesting $2.4 million in state capital money from the fiscal year 2007-08 biennium budget.
n Rehabilitation of existing student-support services and hallway space, as well as upgrades or replacement of heating, ventilation and air conditioning units.
The support service and hallway project would cost $1.7 million, while the HVAC project would cost $800,000. Lakeland is requesting full funding for both projects from the state capital biennium budget of 2009-10.
n Restroom renovation, fire alarm system upgrades, and building envelope restoration and roof replacement. The major focus of the building envelope restoration would be the sealing of various building structures.
The college is also seeking money to rebuild Clocktower Road North, the faculty/staff lot and east lot, as well as other repairs to roadways and lots as required.
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