The 2019 tentative budget is now available in Colleague for viewing, and requisitions for purchases and blankets can now be entered. The Tentative Budget will be placed on public display at the July LLCC Board of Trustees meeting. A balanced budget will be presented as required by the LLCC Board.
Some things to know about this year’s budget:
- FY19 budget includes recommended increases in salary and Board approved benefit allocations for FY19. HR will send notification to staff regarding current approved salary increases.
- The State of Illinois approved a budget for FY19 which includes an appropriation to community colleges.
- Approved Budget Maintenance and Planning Strategies with funding are included in the budget and available in Colleague.
- The final documents from the FY19 planning and budgeting process, including approved tech fee & Perkins appropriations, are now posted on the LLCC Finance Department’s SharePoint page. Refer to the document titles that include “by Requestor” for ease in finding your individual items.
- 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 LLCC 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.
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 on the LLCC Finance Department’s SharePoint 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 LLCC Finance Department.