Expenditures which support new programs or which improve the current service level. Some examples of new initiatives are:
New computer system
Above the baseline of resources to preserve existing service levels. They may have some direct expenses associated it with them. Some examples of new resources are:
Higher than anticipated enrollment
New or higher than anticipated grant
New initiatives and resources are reviewed three times a year. After a New Initiative/Resources Form is completed, the department meets with Budget Office to review and fully cost the initiative. A summary of all initiatives is sent to the President’s Cabinet in September, January and April each year for review and approval.
Unfunded Initiatives Initiatives that are not funded by new resources need to secure alternative funding. The department manager may reallocate funds within his/her area or go to the Division VP to see if there is any room for reallocation within the entire division.
Annual Budget and Five-Year Planning Process The Budget Office creates the tools for the College to capture and prioritize its programs to ensure that the campus resources are utilized in concert with the five-year strategic goals of the institution. Each year, preliminary budget parameters are developed in August and presented to the President’s Cabinet in late September. The Trustees approve the budget in February. Detail worksheets are developed by the Budget Office and distributed to department heads in late February of each year. Budgets are finalized in early April for implementation on July 1 of the new fiscal year.
Departments may submit requests to carry forward balances in activities funded by other than gifts, grants, contracts, or contingency to the budget office using the Carry Forward Request Form. Incomplete projects specifically funded in the specific year, and prior year carry forwards are items that may be considered for balance carry forward. The President’s Cabinet must approve all requests. Requests to carry forward operational funds of less than $500.00 will not be considered.
Reallocations and Budget Maintenance Process Non-payroll reallocations among management centers, activities or object codes with no financial impact to the College bottom line, are completed within 5 business days upon submitting a Budget Change Form by email to the Budget Office. The net adjustment must equal zero. Non Payroll adjustments include all object codes 4XXX and 6XXX.
Payroll reallocations (Object Codes 5XXX) are completed with the Payroll Requisition Form, which is submitted to Human Resources. The Budget Office works in partnership with Human Resources on all payroll adjustments.