Budget Development Guidelines and Procedure

The President, in consultation with the President’s Leadership Team (PLT), is responsible for:

• Reviewing the base budget prior to the beginning of each budget development cycle to ensure alignment with core needs.
• Realignment of the base budget during the initial budget review process.
• Approving the annual Budget Development Cycle.
• Approving and/or modifying budget allocation recommendations.

The Vice President of Administrative Services (VPAS) and Director of College Budget and Grants are responsible for overseeing financial planning and monitoring processes for the college. Oversight includes:

• Initial development of the annual budget and periodic reviews to determine if budget objectives are being met and if spending is within allocations.
• Incorporating the efforts of the Finance and Budget Committee advises the President and the President’s Leadership Team (PLT), within the context of the College’s mission on the long-term goals, strategic planning process and budgetary priorities of the College.
• Providing appropriate budget updates to PLT.
• Ensuring transparency of the college budget.
• Maintaining a three-year rolling financial plan to enable the college to assess long-term consequences of budget decisions.