3.1.2sr-1 - SRTC Procedure: Budget Planning

The Southern Regional Technical College (SRTC) Mission, Goals, and Strategic Objectives serve as a basis for the development of the annual budget through a series of inclusive planning and fiscal procedures.

Planning Procedures

Strategic Plan
A comprehensive five-year Strategic Plan is developed by faculty, staff, and the local Board of Directors, with input from students, program advisory committee members, and the community. A Strategic Planning Committee is responsible for developing the plan, facilitated by the Vice President for Institutional Effectiveness. The comprehensive Strategic Plan includes input from the five-year Master Facilities Plan and the three-year Information Technology Plan. The Master Facilities Plan is the result of administrators and faculty planning for new programs and services as well as changes to programs and services. The Information Technology Plan is developed by the Executive Director of Information Technology with input from faculty and staff, to address the campus-wide need to remain current in the rapidly growing area of technology.

Annually at the end of the academic year, an analysis is completed by stakeholders to assess the College’s progress in accomplishing the College Goals, Strategic Objectives, and Activities included in the College’s Strategic Plan Implementation document. The progress is documented annually. The Vice President for Institutional Effectiveness coordinates this activity.

Annual Budget Plan
Each department, functional unit, and instructional program of the College develops an Annual Budget Plan. This plan includes activities and related budget items that are needed for the department/unit/program to operate during the upcoming fiscal year. Among the activities and budget items included is the summary of activities and resources needed for staff development activities planned by individuals within the planning unit that corresponds to the individuals’ Staff Development Plan. The Annual Budget Plans are maintained in a web-based application. The post assessment document for the Annual Budget Plan is prepared annually and is maintained on the College Intranet site.

Fiscal Procedures

The College shall be managed in accordance with sound financial management practices in order to provide the financial resources needed for operation of the College.
The Vice President for Administrative Services is responsible for the annual development of the budget for the College with the involvement of Faculty and Staff, the Budget Committee, the President, and the local Board of Directors.
The Vice President for Administrative Services is responsible for providing routine financial reports to the other vice presidents, the President, and the local Board of Directors to keep them informed of the financial status of the College.

Operating Budget
The Vice President for Administrative Services prepares an annual projection of available operating funds that include:

State operating funds appropriated by the State Legislature and allocated to the College by the Commissioner of the Technical College System of Georgia. The appropriation made from the State Legislature is in response to the Commissioner’s budget request as approved by the State Board of the Technical College System of Georgia.
Tuition, fees, and sales based on historical revenues.
Other sources including contributions from the College Foundations, as well as carryover from prior years as permitted by state law.

The projection of operating funds is used to establish the ceiling of the College’s annual operating budget as follows:

Department, program, and functional unit budget requests are pulled from Annual Budget Plans, compiled and combined with personnel costs as projected by the Vice President of Administrative Services. The Vice President for Administrative Services compares the resulting amounts to the projection of available operating funds for reasonableness. An allowance is set aside for contingencies, based on past experience and the judgment of the President and Vice President for Administrative Services.
The Budget Committee is provided with a comparative listing of prior year and current year budgets. The Committee, comprised of the Vice President for Academic Affairs, Vice President for Administrative Services, Vice President for Student Affairs, Vice President for Operations, and faculty representatives review the comparative listing for significant increases. Those with significant increases over prior year are provided an opportunity to clarify for the Committee if it is not readily evident within the respective Annual Budget Plan. The budget is then adjusted or approved by the Committee and submitted as a recommendation to the President.
Upon acceptance by the President, the budget is presented to the local Board of Directors for review and input.
The Commissioner submits the budget to the State Board of the Technical College System of Georgia for approval.
Budget and expenditure comparison reports are made available to each unit for monitoring purposes throughout the year. The Budget Committee meets in May to prioritize year-end purchases with remaining available funds.
Budget projections are revised throughout the year as actual data becomes available. The Committee meets to discuss a recommendation for amendment in the event it is determined necessary.

Minor Repair and Renovation Budget

Minor Repair and Renovation (MRR) funds are allotted by the state legislature to the Technical College System of Georgia and allocated by the TCSG Commissioner to the technical colleges. The funds are allocated for non-routine repairs and maintenance in an effort to protect the state’s investment in its facilities. These funds may not be used to increase overall building size or new construction.
The Vice President for Administrative Services is responsible for soliciting and compiling suggestions for MRR projects from faculty and staff, including the Vice President for Operations.
The compiled list is then prioritized by the Vice President for Administrative Services and Vice President for Operations, and presented as a recommendation to the President for consideration and approval.
MRR requests for projects and corresponding fiscal resources are submitted to TCSG staff by including in the College Performance Accountability System (PAS) submission.

Perkins Budget

The Vice President for Institutional Effectiveness is responsible for coordinating the preparation of the federal Perkins Funding Application and One-Year Budget. Selected members of the President’s Leadership Cabinet are responsible for Perkins budget planning and implementation.
Perkins funds are awarded by the U.S. Department of Education as a grant to the State based on populations in certain age groups and per capita income. These funds are allocated to the College through the Technical College System of Georgia.
Perkins funds are used to increase student retention, to acquire instructional equipment, and to provide opportunities for professional development.

Equipment Budget

Funds available for the purchase of equipment include: Perkins, Obsolete Equipment Replacement Bond funds (allocated by the state legislature through the TCSG), and Foundations as well as projected excess operating funds.

The Budget Committee is responsible for reviewing department, program, and functional unit prioritized lists of equipment needs documented in the equipment budget request. The listing of equipment budget requests, in addition to an inquiry of faculty and staff, is used as a basis for compiled equipment recommendations to the President.

Responsibility:
The Vice President for Administrative Services has the overall responsibility for ensuring this procedure is implemented.

References:
SBTCSG Policy 3.1.2: Annual Budget Requests and Operating Budgets

Status:
Adopted: 11-04-2014
Implemented: 07-01-2015
Revised: 08-22-2018