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Budget & Fiscal Planning

Purpose

Coordinate and integrate college plans and establish budget priorities consistent with the college's vision and mission statements, with recommendations, expressed in dollars, made to the Superintendent/President.

Recommend budget priorities to the Superintendent/President; final recommending authority to the Board of Trustees rests with the Superintendent/President; final approval authority rests with the Board of Trustees.

Review the Tentative and Adopted budgets for consistency with annual institutional goals and objectives, college plans, and the planning and budget philosophy.

The committee was established March 11, 1998, Res. 11338 Bylaws, amended July 15, 2009, Res. 14423.

Educational Master Plan Goal Three:  Resources

The college will maintain programs and services which support student success and the attainment of student educational goals.

Accreditation Standard III:  Financial Resources

Financial resources are sufficient to support student learning programs and services and to improve institutional effectiveness.  The distribution of resources supports the development, maintenance, and enhancement of programs and services.  The institution plans and manages its financial affairs with integrity and in a manner that ensures financial stability.  The level of financial resources provides a reasonable expectation of both short-term and long-term financial solvency.  Financial resources planning is integrated with institutional planning.

Meetings

4th Wednesday of the month during the Fall and Spring semesters; special meetings being held during Summer 2014, Mondays at 1:00 p.m. until further notice

Members

John Lau, VP Business Services, Co-chair
Kevin White, Academic Senate Representative, Co-chair (9/7/11)

Dr. Nick Akinkuoye, Admininstrative Representative (8/5/14)
Carlos Fletes, Director of Fiscal Services
Dr. Michael Heumann, Faculty Representative (5/27/14)
Dave Drury, Faculty Representative (3/31/11)
Mike Nicholas, Classified Representative (8/21/13)
Matthew Thale, Classified Representative (5/24/13)
Jeff Cantwell, Classified Manager/Confidential Representative (3/19/13)
Dr. Martha Garcia, College Council representative (9/25/13)
Student Representative

Documents

Budget Principles, Guidelines and Priorities, revised 1/31/14

2013-14 and 2014 Integrated Planning & Budget Calendar, adopted 11/20/13

Fund Balance Policy, adopted 3/13/13

Resolution 15732, Board Reserves Requirement, adopted 6/19/13

Recommendations

Recommendation on strategy to increase reserve to 16.6%:  M/S/C Lau/Garcia to recommend that at the end of each fiscal year, if a favorable variance exists between budget and actual, this amount will be designated to be part of the reserve.  Any use of the available reserve for current operations will have to be approved by the Board of Trustees.  Adopted 1/29/14

Recommendation regarding funding plan for OPEB liability:  M/S/C Thale/Cantwell to recommend that if a favorable variance exists at the close of a fiscal year (between budget and actual) that this amount be allocated 70% to the reserve and 30% to a fund designated for the OPEB liability within the reserve.  Any use of the available reserve for current operations requires approval by the Board of Trustees.  Furthermore, if determined to be financially feasible by the administration and the board, the 30% shall be transferred to an irrevocable trust fund for the OPEB liability. Adopted 3/26/14

 

 

 

 

 

 

 

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