The Financial Resource Plan outlines the basic steps and key documents associated with building Sacramento City College’s annual budget plan. Timelines and key information pieces are discussed in this plan which is a key component of the SCC Strategic Planning System and our overall resource allocation planning. Among the key documents that are produced each year are the four documents outlined below. In addition to these documents, the President’s Cabinet conducts a review of all program plans and the associated objectives and resource requirements. This review is done in the fall of any given year and plays a key role in determining funding for each program area for the budget year being planned.
President’s Budget Memorandum
This document provides an overview of the current budget climate and associated expectations. It provides a review of expected sources of revenue for the college and planned expenditures in four key areas: division base budget allocations; college-wide, one-time-only needs; program plan funding; and unit plan funding. This document is generally produced in January of a given year to provide fiscal guidance for the new academic year beginning in July of that year running through the following June 30.
Budget Committee Recommendations
The President’s Budget Memorandum, among other things, sets the unit plan funding level for the following year. Based on this guidance, in part, the Budget Committee reviews unit plan financial resource requests. The committee is also charged with integrating facility and information technology requests that have been developed through the unit planning process. Once the Budget Committee completes its review a committee position is voted on and a recommendation is forwarded to the President regarding how the unit planning funding will be allocated for the next fiscal year. This is typically completed by April prior to the start of the next fiscal year.
President’s Response to the Budget Committee
The president reviews the Budget Committee’s recommendations for funding and either approves or modifies the recommended funding levels. The president then provides a written response to the budget committee and to the college Vice President of Administrative Services (VPA). The VPA will distribute approved funds or manage the approved project funding for the next year based on this approval memorandum.
Midyear Budget Update
Generally, in December of the execution year, the VPA will review ongoing budget expenditures and provide a report to the college as to how budget execution is proceeding. This report will include a summary of revenue changes and any changes in expenditure levels for the execution year. Changes to available funding will be addressed with the President’s Cabinet and funding will either be applied in the execution year or in a future budget planning year.