Budgeting for any fiscal year or the remaining part of any fiscal year shall not deviate materially from Mission and Objectives, priorities, risk fiscal jeopardy, or be unrealistic in projections of income and expenses. No budget will become effective until approved by the Board.
Accordingly, the President may not:
- Propose a budget without information to enable accurate projection of revenues and expenses, separation of capital and operational items, cash flow, and disclosure of planning assumptions.
- Plan the expenditure in any fiscal year of more funds than are conservatively projected to be received during that year plus any carryover funds from previous years to the extent authorized by the Carryover dollars to be brought before the Board with explanation of correlation to fund balances.
- Propose a budget that does not provide the annual operating funds for Board prerogatives, such as costs of fiscal audit, Board development and training, and Board professional fees.
- Propose a budget that does not have a broad base of input.
- Propose a budget that fails to take into account Mission and Objectives and priorities.
- Propose a budget that fails to include funding to meet the College’s annual goals and priorities and provide resources to provide adequate plant maintenance, equipment enhancement, program and staff development, and institutional effectiveness.
- Propose a budget that does not retain an amount equal to at least 10 percent of the total annual operating budget (excluding grants & contract funds) in an operating reserve.
Historic Information
- Revised: October 18, 2023
- Revised: February 16, 2011 (added 4.7)
- Reviewed: February 19, 2003
- Revised: September 1, 1999