BS5766 - Annual Budget Preparation

1. Institutional Regulations
   
   The planning of the annual operating budget shall be a continuous process and involve long-term thought, study and deliberation by all parties concerned. The planning shall include consideration of College objectives, financing, receipts and expenditures.
    
2. Procedure
   1. Budget Projection:
      1. Budget projections for the next fiscal year must be available for review with the President in November. It is the responsibility of the Business Office to prepare these projections.
      2. Business Services shall:
         1. Obtain the President’s budget objectives and
         2. Prepare a Proposed Budget, which incorporates all changes in revenues and expenses
   2. Proposed Budget:
      1. Business Services shall employ any budgeting technique and may request specific information from budget managers to complete the annual budget projections. These items may include, but are not limited to:
         1. A listing of proposed new programs and functions and the budget estimates for these activities,
         2. A listing of existing programs that will be discontinued,
         3. A listing of proposed new positions and estimated salaries for the positions,
         4. A listing of current positions that are to be eliminated,
         5. Enrollment projections by acronym,
         6. A summary of significant expenditures that are over and above similar expenditures in the current fiscal year,
         7. A summary of anticipated increases or decreases in revenue or funding from the current fiscal year, and
         8. Capital expenditures and anticipated renovations for existing programs or functions.
      2. Budget forms and requests for information, required by the budgeting technique employed, may be distributed to budget managers with instructions and time schedules.
      3. All proposals for budget increases must be approved by each level of management, below Vice President, before being submitted to the Vice President for approval.
      4. Business Services shall:
         1. Compile the information received,
         2. Review the results with the president, and
         3. Complete the Proposed Budget for presentation to the Board at the February meeting.