Page Comparison

Programs and departments develop budget and capital requests independently, based on their local planning; these requests are submitted via the SPOL planning module

Dec/Jan

Core baseline budget parameters:

• Traditional UG enrollment, discount rate
• Room & board rates (approved by Board of Trustees in November)
• Fringe benefit rates
• Cost of living increase, discretionary step process
• Margin expectations: by program and total

Jan/Feb

Budget worksheets to VPs and Deans:

• Further distribution to Directors and Chairs
• 3-years historical, current year budget, future prelim budget
• Approximate 3-week turnaround for budget holders

Capital budget meetings with primary stakeholders

• Facilities, auxiliaries, safety, information systems
• Other departmental capital submissions with operating budgets

February

Budgets returned to VP for Finance

• VP for Finance budget preparation and roll-up
• Prelim Operating and Capital budget presentation:
  • Executive Leadership Team
  • Cabinet

March

Presentation of preliminary budget outlook to Board of Trustees,
Institutional Resources & Sustainability committee

April-May

Revisions to preliminary budget; enrollment adjustments

June

Final Budget worksheets to VPs and Deans:

• Further distribution to Directors and Chairs
• 3-years historical, current year budget, prelim budget, final budget

Board of Trustees, Institutional Resources & Sustainability Committee:

• Present budget updates: enrollment, discount rate, other variables

July

Final Operating and Capital budget based on actual enrollment

• Prelim Operating and Capital budget presentation:
  • Executive Leadership Team
  • Cabinet

Preliminary “final” budget loaded into ERP for reporting and tracking

November

Final approval by Board of Trustees, Institutional Resources & Sustainability Committee

• Action: Final Operating and Capital budget approval
• Rate approval: Room & Board next fiscal year