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Budget Allocation Model

REIMAGINING INITIATIVE PRIORITY:  Develop a new budget allocation model

Budget allocation slides from 12-12-22 Board presentation

Click HERE to view the Dec. 12, 2022, slideshow presentation to the Board of Trustees

 

Project 1: Develop new parameters for college ownership on float and carry forwards

  • To allocate existing resources in a more balanced and efficient manner (as impacting B-budgets).
  • To reflect realistic budgetary needs in supporting programs and services for students.
  • To identify on-going vs one-time allocations and establish clear parameters for funding these allocations.
  • To identify how to support one-time allocations or emergency resource needs in a consistent and balanced manner.
  • To establish and document the criteria and reassurances needed to address concerns from the colleges which will enable data-informed decision making versus decision making due to fear of llosing resource allocations.

 

Project 2: Develop the full COLA Allocation Model for 2023-24 to address funding needs for ongoing and inflationary operational costs and total compensation (which includes salary/payroll and health benefits)

 

Establish a predictable and consistent model that can be relied on long-term with opportunities for one-time additional monies or resources to be discussed when such resources are available.

  • To define the parameters and criteria for current, mandated, and negotiated institutional obligations.
  • To address how we can allocate new resources across the colleges and central services while ensuring operational stability and prudent reserves.
  • To clearly establish a model with an emphasis on operational stability so that staff and student focused needs can be met for both short-term and long-term resource needs.
  • To establish how to consistently meet fiscal needs including addressing total compensation.
  • To have a clear, understandable, and transparent model with and documented process for how cost of living adustments (COLA) are to be allocated in future years.