Administrative Regulation Title:  Annual Budget Cycle Process

Regulation Number:  2.15.1

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In the budget development process outlined below, Eastern Wyoming College follows the Annual Budget Cycle Process. The budget document provides a financial plan for fiscal year revenues and expenses, outlines initiatives and implements controls for spending authority. Budget planning at EWC will be a transparent and participative process that involves all campus constituencies.

Phase 1: Preparation of the Proposed Budget

  1. Historical budget data, revenue and enrollment projections are distributed to department heads/program directors and budget managers for review.
  2. Budgets are prepared by departments with assistance from their Vice President.
  3. The Vice Presidents will utilize their key leadership areas to prioritize requests before forwarding them to the Vice President for Administrative Services and the President. Budget managers who report directly to the President will submit their budgets directly to the President. The President will work cooperatively with budget managers when requests are revised before forwarding them to the Vice President for Administrative Services.
  4. The President, in collaboration with the Vice Presidents will review and prioritize, add and/or reduce recommendations, align requests with the strategic directions and share the priorities with the Board of Trustees at a work session in the fall.
  5. The President provides guidance to the work of the Vice President for Administrative Services and communicates budget information to campus constituencies.
  6. Distribute proposed Preliminary Budget college-wide prior to presenting to the Board of Trustees.

Phase 2: Approval of Preliminary Budget by the Board of Trustees

  1. The EWC Board of Trustees will review and/or revise the Preliminary Budget in a work session or retreat prior to the May board meeting.
  2. At the May board meeting, the Trustees will take official action regarding the Preliminary Budget.
  3. At the May board meeting, the Vice President for Administrative Services will request authorization from the Board of Trustees to schedule public hearings concerning the current fiscal year final budget and renewal of any special mill levies for the new fiscal year.

Phase 3: Adoption of the Fiscal Year College Budget

  1. The Vice President for Administrative Services will publish a Notice of Budget Hearing in the official newspaper of the College District. The hearing is held at the July Board of Trustees meeting.
  2. The Board of Trustees will formally adopt the budget at the July board meeting on or before the third Wednesday of July.
  3. The Vice President for Administrative Services submits a copy of the complete budget in the required format to the Goshen County Clerk and the Wyoming Community College Commission per the Wyoming Uniform Municipal Fiscal Procedures Act.

 

Original Adoption Date:  10/10/19

Revision Date(s):  

Date reviewed, no change: