71-07 Budget Planning

Procedure Description

I. PURPOSE

To establish a procedure to guide budget planning.

PROCEDURE

A. The budgeting process for the College is based upon the priorities identified in the institutional planning process. Funds budgeted for programs and services should be linked to the strategic goals of the college. Requests for new funds should be justified in writing and linked to the college’s strategic priorities.

B. The Vice President of Finance and Administration, who assists administrators, helps determine the feasibility of requests and advises the President on budget matters throughout the budgeting process.

C. The budget process begins in February of each year, with departments submitting their personnel and operating requests. The documents received are used to compile the annual budget request. Departmental budget managers have access to their budgets for review on-line at all times.

D. After an administrative review of the budget proposal, the President submits the proposal to the Area Commission Finance Committee for review and approval before it is presented to the full body for action.

E. Budget assumptions are based on enrollment projections and projected state appropriations. The budget is balanced and expense categories are adjusted if budget projections do not materialize. The FDTC Area Commission is provided a financial update at each meeting, which shows budget versus actual comparisons.