best practices in budgeting for coconino community college april 2015 dr. leah bornstein, president...
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Best Practices in Budgeting for
Coconino Community College
April 2015
Dr. Leah Bornstein, President
Jami Van Ess, Vice President of Business and Administrative Services
Dr. Russ Rothamer, Vice President of Academic Affairs
Identifying Best Practices in Budgeting
Leveraging the budget process to align resources to student outcomes.
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Academic Programs
Student Outcomes
Budget Process
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Budgeting Best Practices forCommunity Colleges
1. Prepare & Develop Inputs to the Budget Process
Adopt/Re-Affirm budgeting principles and policies to guide the budget process
Examine internal and external forces that impact the budget
2. Define Goals & Identify Gaps
Develop goals for the college and its sub-units
Determine the gaps between the goals and current state, and identify the root causes of the gaps
3. Develop Strategies to Achieve the Goals
Research proven policies and practices
Develop strategies
http://www.gfoa.org/award-programs/award-best-practices-school-budgeting/community-college-budget-resources/best
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Budgeting Best Practices forCommunity Colleges4. Prioritize Spending to Enact the Strategies & Allocate Resources
Prioritize spending to enact the strategies
Allocate funds based on the results of the prioritization process
Create a budget document that communicates how resources have been allocated to enact the strategies
5. Check Performance
Monitor and evaluate outcomes from budgeting decisions
6. Enhanced Budgeting Practices
Allocate costs of shared support services to sub-units to better understand the true cost of offering services
Establish criteria and measures for success of the budget process
http://www.gfoa.org/award-programs/award-best-practices-school-budgeting/community-college-budget-resources/best
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2. Define Goals & Identify Gaps
Develop goals for the college and its sub-units
Determine the gaps between the goals and current state, and identify the root causes for the gaps
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2. Define Goals & Identify Gaps -Our Strategic Planning Process at CCC
Student Success: The Heart and Purpose of CCCRe-Visioning Through Strategic Planning
January 2016-December 2020
Strategic Planning Timeline June 2014 – January 2016 Environmental Scan Goals, Objectives, Tactics New Plan Publication and Implementation
Composite Financial Index
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20130
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Composite Financial Index
Composite Financial Indicator Benchmark
Year
Str
ength
Facto
r
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4. Prioritize Spending to Enact Strategies and Allocate Resources
Prioritize spending to enact the strategies
Allocate funds based on the results of the prioritization process
Create a budget document that communicates how resources have been allocated to enact the strategies
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4. Prioritize Spending to Enact Strategies and Allocate Resources at CCC
Prioritize spending to enact the strategies Financial Austerity Plan -15 initiatives $1.28 million
3–year enrollment and financial analysis of programs and services
Implemented Linked performance measures, strategic plan initiatives, action plans, and allocation of resources
Prioritizing Academic Programs and Services: Reallocating Resources to Achieve Strategic Balance by Robert C. Dickeson
New - Summer 2015
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4. Prioritize Spending to Enact Strategies and Allocate Resources at CCC
Allocate funds based on the prioritization process Increase Advising - $198,234 (Responsible - Dean of Student
Services)
Implement Student Portal - $28,800 (Responsible - Chief Technology Officer)
Implement Math Computer Lab/Math Lab Assistants - $74,087 (Responsible – VP of Academic Affairs):
Assess Starfish for early alert and make adjustments (Responsible - Dean of Student Services)
Assess Starfish for probation students and implement adjustments (Responsible - Dean of Students)
Hire Instructional Designer - $61,490 (Responsible – VP of Academic Affairs)
Upgrade ITV environment -$44,353 (Responsible - Chief Technology Officer)
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4. Prioritize Spending to Enact Strategies and Allocate Resources at CCC
Create a budget document that communicates how resources have been allocated to enact the strategies – Telling the Story Challenges Goals - SMARTER Initiatives to overcome challenges and improve
results Financial Plan – revenues, expenditures, reserves,
debt and capital Long-term financial planning and risk management
https://www.coconino.edu/resources/files/pdfs/business-and-admin/adopted-budgets/FY_2015_GFOA_Budget_Book.pdf
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Participate in Budgeting for Student Success If you are interested…
Draft best practices
Enhancing and/or implementing aligning your budget process to your strategic goals
Application for the Inaugural Award for Best Practices in School Budgeting for the 2016-17 Budget
Education & Training
http://www.gfoa.org/cc-bestpractice-draft
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