9.2.3 Debt Service and Capital Rentals Revenue in support of debt service and capital rentals will be projected on the basis of funding approved by the county and/or state. Budgeting for Operations The cumulative annual budget for all current fund operating units will equal revenue projected for those units. The annual operating budget will be projected assuming constant service levels, contractual cost increases, and anticipated rates of inflation for costs driven by market conditions. 9.3.1 Budget Development Budget development will begin at the department and roll up to higher responsibility (Dean, Campus for example) levels culminating in a college-wide request. The department will have the opportunity to propose changes in resources to overcome deficiencies in the delivery of required services. 9.3.2 Budgeting Calendar The annual operating budget process will start at the beginning of October and progress as set out in Board Policy V.05.02. The operating budget will be submitted to the Board for approval at either the May or June meeting. Budgeting for Debt Service and Capital Rentals The annual debt service and capital rental budget will be developed by the Vice President of Finance/Controller’s Office based on contractual commitments. This budget will be submitted to the Board of Trustees with the operating budget in May or June of each year. Budgeting for Facilities Acquisition and Renewal The annual facilities acquisition and renewal budget will be based on the approved Facilities Master Plan for new facilities and a life cycle renewal plan for existing facilities. A prioritized list of current projects will be submitted annually to the Board in May or June of each year. Projects that can be funded within known financial capabilities will be submitted for Board approval at that time.
9.3
9.4
9.5
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