Budget Process and Equipment Replacement
The budget process at the College commences in early March with a call letter from the VP for Administration & Finance that is sent to area VPs asking them to prepare a zero-based budget request for the up-coming fiscal year.
The VPs are requested to fill in a form indicating amounts needed for specific objects of expenditure like supplies, travel and contractual services. Budget requests for capital items such as equipment and furniture must be detailed for the upcoming fiscal year and for the two fiscal years beyond (see Equipment Replacement below).
In addition to the forms, VP’s are asked for narratives that provide information explaining needs and priorities, extraordinary items and linkages to the College’s strategic plan. As appropriate, they describe how their spending priorities support the College’s instructional and student service programs.
VP’s are asked to submit their requests by the end of April. These requests are compiled and preliminary revenue and expense projections are made.
The President meets with the VPs individually to allow them to present and defend their budget requests. A great deal of “fine tuning” takes place at these meetings.
Once finalized, the compiled budget is officially submitted to the SUNY System for subsequent activation on July 1st or as soon thereafter as SUNY System is able to do.
It is the policy of the College to address its equipment needs in a systematic and planned manner in order to meet and fund future programmatic and operational needs. Replacement projections are based on criteria like lifespan, useful life, physical condition, obsolescence, technology advances and must be conditioned by the likely availability of funding.
As an essential part of each year’s budget request, each VP must include an equipment section for the upcoming and succeeding two fiscal years. The request must be accompanied by a narrative that provides detailed justification for the requests. While the equipment section of the budget should include new items, it must focus specifically on items that are expected/scheduled to be replaced during the three fiscal years involved. Having this information helps the College meet its programmatic and operational requirements by insuring the linkage between resource allocation and the goals set forth in its strategic plan.