A5100.00 Budget Development and Adoption

 

Statement

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The Vice President of Administrative Services (VPAS) is responsible for developing the tentative budget in cooperation with other vice presidents and shall submit the budget to the President for review and adjustment prior to presentation of the tentative budget to the Board of Trustees.  The presentation of the tentative budget shall occur no earlier than April board meeting and no later than the August board meeting.  The tentative budget shall be made conveniently available to the public for inspection for at least 30 days and a public hearing shall held with notification of such given at least 30 days prior to the time of a public hearing.  The College President will present a recommendation for adoption of the legal budget and submit this recommendation to the Board of Trustees for its consideration in a meeting no later than September 30^th.

The budget calendar with associated steps are as follows:

July – January

1. Academic and administrative departments develop budget requests for the upcoming fiscal year(s).

 

February

2. Historical actual revenues and expenditures, along with budget data imported into chosen software to be used for budgeting.
3. Communication sent by Human Resources to the Vice Presidents and President requesting notification of position requests.
4. Human Resources to review/verify new position costs, then submit to the President for review/approval.
5. Memo from the Vice President of Administrative Services (VPAS) sent to budget officers by end of February.

 

March

1. Conduct a budget workshop for budget officers for the year (annual event).
2. Budget Officers work to build detailed, multi-year departmental budgets and justify requests using zero-based budgeting for account types selected by the VPAS. Budget requests above an established threshold to be tied to the Strategic Plan. 
3. Memo to Executive Director of Institutional Effectiveness or Vice President of Student Affairs sent by the VPAS to request enrollment projections in MS Excel template to be used for revenue budgets and future year projections.
4. VPAS prepares initial revenue projections.
5. Capital project planning initiated.

 

April

1. Budget requests to be reviewed by the respective vice presidents and returned to VPAS by April 15^th.
2. Following action by the President, position by position salary and fringe benefit data provided by Human Resources and provided to VPAS.
3. Salary and fringe benefit cost built into the upcoming budget software for initial inclusion in tentative budget.
4. VPAS meets with respective vice presidents to review summary budget data and make edits. Original request with editorial notes are to be retained for future reference.

 

May

1. Annual raise determination made by the Board of Trustees and/or collective bargaining agreement.
2. VPAS develops projected ending fund balances for prior to establish beginning fund balances for the new budget year.
3. Meeting held with President to review budget progress. Meeting to include:
   1. Initial revenue projections, anticipated prior year ending fund balances, and expected budget summary.
4. Proposed capital projects submitted to the Board of Trustees for inclusion in the budget.
5. State revenues are updated based upon ICCB budget.
6. Tuition and fee revenues updated based upon most current enrollment for upcoming fall semester is compared to earlier enrollment projections.
7. Budget message drafted by the VPAS and reviewed by the President.
8. President to meet with the Board Chairperson to present budget overview.

 

June

1. Presentation of Tentative Budget to the Board of Trustees at the regularly scheduled meeting.
2. Scheduling of the public hearing on the board agenda in July with the meeting to occur prior to the August board meeting.
3. Tentative budget document made available on the college public website for 30-day inspection period.
4. Preparation and sending of advertisement for the local newspaper notifying of the public hearing (at least 30 days in advance of the hearing).

 

July

1. Any adjustments made to Tentative Budget as required, including adjustment of beginning and ending fund balances.
2. Public hearing held prior to the start of the regular board meeting.
3. Budget presented for adoption to the Board of Trustees.

 

December

1. Statement of Revenues signed by the VPAS sent to counties with the certificate of tax levy.

 

Change Log
Date	Description of Change	Governance Unit
04.05.21	Initial Adoption	VP of Admin Services
06.13.24	Converted to new template