Policies & Procedures Manual

247

Policy No: 600

Policy Contact: Vice President for Business Operations

Policy Title: BUDGETS

Budgeting shall be in accordance with the financial manual for Mississippi’s Public Community/Junior Colleges which conforms in most respects to the National Association of Colleges and University Business Offices (NACUBO) procedures. In preparing departmental budgets and reports, division chairpersons and administrative division chairpersons shall be responsible for following the guidance of the Vice President for Business Operations in complying with the budgeting procedures. The institution operates on a budget system administered by the Vice President for Business Operations in conjunction with the Vice Presidents, Division Chairs, Deans, and the Director of Career & Technical Education. The budget is prepared in February on a schedule determined by the Vice President for Business Operations. The budget is prepared to follow guidelines which state probable funds available and the administration’s budget objectives. Academic Divisions: Each division chairperson is responsible for preparing his/her division budget. Faculty members within each division will submit budget requests to their division head for consolidation. The request should include an itemized list of the supplies and equipment requested, arranged in descending order of urgency or importance. The consolidated division budgets will be submitted in duplicate by the division heads to the Vice President for Instruction to be reviewed for reasonableness and consistency with institutional objectives. The consolidated requests accompanied by any recommendations of the Vice President for Instruction, are submitted to the Vice President for Business Operations. After analyzing all requests concerning needs and availability of funds, the administration will allocate appropriate portions of the total budget to each division. The Vice President for Business Operations will return a copy of the approved budget to each division chairperson. Career Programs: Each instructor prepares the budget request for his/her program, including an itemized list of all supplies and equipment, arranged in descending order of urgency or importance. These requests will be submitted to the Director of Career & Technical Education for consolidation and review as to reasonableness and consistency with institutional objectives. The request will then be treated as described above for the academic divisions. Student Activities: The sponsors of student activities will submit budget requests for his/her activity, including itemized lists of all supplies and equipment, arranged in descending order of urgency or importance, to the Vice President for Student Services for his/her review and submission to the Vice President for Business Operations. Intercollegiate Athletics: Budget requests for intercollegiate athletics will be presented by the coaches to the Director of Athletics, to be reviewed, for reasonableness and consistency with institutional objectives. The consolidated requests together with his recommendations will then be submitted to the Vice President for Business Operations. The Vice President for Business Operations assists the President in preparing the annual budget and in submitting it to the Board of Trustees for approval. Further, the Vice President for Business Operations makes monthly budget status reports to the division chairpersons and/or budget managers. When budget revisions are required during the budget year, the Vice President for Business Operations assists the President in preparing such revisions and in submitting these to the Board of Trustees for approval. Other budgeting controls are discussed in the purchasing procedures section. The effective date for the annual budget is July 1.