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

Budgeting Best Practices

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

Performance Metrics

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

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ength

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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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Questions?

Thank You!