The 2017 Tentative Budget is now available in Colleague and will be placed on public display at the July Board Meeting. A balanced budget was presented as required by the LLCC Board of Trustees. This was a very difficult process due to proposed property tax freeze by the legislature, continued state funding issues, and declining enrollments. Some things to know about this year’s budget:
- FY17 budget includes Board Approved increases in salary and benefits. HR will send notification to staff regarding current approved salary increases.
- Many budget line items in all areas of the college were reduced to be in line with the three year spending pattern for the line items.
- Approved Budget Maintenance and Planning Strategies with funding are included in the budget and available in Colleague.
- Approved FFE, Small Projects, Perkins, and Tech Fee appropriations will be sent out or posted when available.
- •Additional adjustments may be necessary between now and the adoption of the Final Budget at the September Board Meeting.
- Budget transfers will not be processed until the final budget is approved by the Board and those adjustments are made in Colleague. HOWEVER, if you do not have the necessary funds in your lines to process a payment or PO, a budget transfer MUST still be prepared and submitted to the Budget office. Once the transfer is received and reviewed, we will override the account and will process the transfer once the final budget is online.
- Spending restrictions as implemented in FY2016 are still in effect. Please make sure you are familiar with those guidelines and procedures.
It is imperative that departments review their budgets during the year as you make purchases to ensure you are operating within your budget. Directions on running Colleague general ledger reports (ACBL, GLBR, and GLBS) are located in the “Useful Information” section on the budget office portal page. Please familiarize yourself with these reports as they will help tremendously in managing your budget appropriately.
If you have any questions or problems, please feel free to contact the Finance Department.