Policy IV. E. - Budgeting/Forecasting

College budgeting for any fiscal year or the remaining part of any fiscal year shall not deviate materially from Board Ends priorities, risk fiscal jeopardy, or be unrealistic in projections of income and expenses.  The Board must adopt the College budget before the budget becomes effective.

Accordingly, the President may not:

  1. Propose a budget without supporting information that projects revenues, expenses, and cash flow; that separates capital and operational items; and that discloses planning assumptions.
  2. Plan the expenditure in any fiscal year of more funds than are conservatively projected to be received during that year, and than are in carryover accounts.
  3. Propose a budget that does not provide the annual operating funds for Board prerogatives, such as costs of fiscal audit, Board development and training, Board professional fees, and Board travel for College business.
  4. Propose a budget that does not have a broad base of input, including approval by the Board appointed Budget Committee.
  5. Propose a budget that fails to take into account Board Ends priorities.

Adopted 5/19/99 Revised 06/06/07