2.6 Financial Planning and Budgeting

The Chancellor will align financial and strategic planning. 

TECHNICAL CHANGES APPROVED June 27, 2023 Governing Board Meeting

AMENDED June 28, 2022, Governing Board Meeting

AMENDED October 22, 2013, Motion No. 10112

AMENDED February 22, 2011, Motion No. 9781, 9782

Chancellor Interpretation

I interpret this policy to mean that that the financial planning and budgeting decision-making process will align with the strategic plan to ensure implementation and monitoring at a level with expected performance and within the established financial goals for the institution. Further, the monthly, quarterly, and annual finance reports to the Governing Board will provide evidence that by establishing and monitoring specific and measurable financial strategic goals on a coordinated, integrated basis, we enable the Maricopa Community Colleges to operate efficiently and effectively to ensure financial viability and stability.

In addition, I interpret this policy to mean that expenditures will not occur in any fiscal year of more funds than are conservatively projected to be received or carried forward in that year.

I will maintain a General Fund balance of at least ten percent of projected General Fund revenues and address the identification and pursuit of new and existing revenue sources, and enhancement of cost-effectiveness, as part of multi-year planning.

TECHNICAL CHANGES APPROVED June 27, 2023 Governing Board Meeting 

AMENDED June 28, 2022, Governing Board Meeting 

AMENDED May 22, 2018, Motion No. 10567

REVISED November 26, 2013