BUTLER TWP — Butler County Community College will replace its data and software network using savings from refinancing a bond issue to fund the project.

The board of trustees agreed Tuesday to use the Pittsburgh investment banking firm Boenning & Scattergood for the refinance.

“Our current system is out of date,” said Nick Neupauer, BC3 president.

BC3 was required to use the funds on a capital project.

In December, the board discussed replacing BC3’s APECS.net system, using Bridgeport, Conn.-based DataTel. The board has not officially hired the firm.

Plans were put on hold after Gov. Tom Corbett’s proposed state budget was released in March, but they have been revived.

Under the state budget plan, BC3 could lose $1.2 million in state subsidies and reimbursements next year, Neupauer said in April.

Although BC3’s 2011-12 budget must be passed by June 30, it will be presented to the trustees for the first time June 22, said Jim Hrabosky, vice president of finance and administration.

“We’re waiting for the state appropriation,” Hrabosky said. “Our decisions hinge upon what we receive from the state.”

At the same time, BC3 will end the year under budget. Through April, the college had saved $665,488.

Hrabosky credited college wide spending reductions and lower energy costs for the savings.

BC3’s budget this year is $25.84 million.