At the start of each spring semester, the college engages in planning and creating a budget for the following fiscal year. This comprehensive process is driven by members of leadership representing all departments, each of which conducts meetings and surveys to gather information and requests from faculty and staff. Every aspect of the budget is meticulously considered; several drafts are created and revised in collaboration with the Network Finance team before a proposal is presented to the Board of Directors.

 Key elements of the budget include:

• Capital Requests: These are items with a cost exceeding $5000 and depreciating in value.
• Projected Revenue: Enrollment projections for the upcoming academic year are made for all programs, based primarily on historical trends, and the anticipated revenue associated with credit hours is calculated. Additional revenue sources such as student fees are also incorporated.
• Operational Expenses: This encompasses budgetary items essential for the college to serve our students, fulfill our mission, and implement our strategic plan. Considerations range from supplies, equipment, and technology tools to memberships, subscriptions, travel, ceremonies, development opportunities, and accreditation expenses.
• FTE Expenses: Salaries and benefits for employees across the college, including adjuncts, project pay, and bonus pay, are calculated. An analysis is conducted of FTEs necessary both currently and in the future, aligned with the strategic plan.

The budget cycle typically spans from January to March, so the work for Fiscal Year 2025 is almost done! The Board will provide feedback during their April meeting.