A5100.00 Budget Development and Adoption

Statement

In conjunction with annual planning, the President during November of each year will initiate a college‑wide budgeting process based on projected revenue and appropriate administrative guidelines.  Each college Vice-President will submit his/her department budget to the President no later than March 1 for the next fiscal year.  The Chief Financial Officer will assemble the budgets and coordinate with the College President.  The CFO will also assemble long range financial projections to be used in the budget development process.  The President, with assistance from the Chief Financial Officer, will review all budgets and make adjustments where appropriate and necessary.  The College President will finalize a formal budget recommendation within projected resources and submit this recommendation to the Board of Trustees for its consideration during June of each year.  Following Board adoption of a tentative budget during June, the budget will be made available for public inspection and comment for a 30‑day period.  The Board of Trustees will then formally adopt a final budget following the 30‑day period during the month of July.

Revised:  January 2009, July 2014