The 2020 tentative budget is now available in Colleague for viewing. Requisitions for purchases and blankets can now be entered. The tentative budget will be placed on public display at the July board meeting. A balanced budget will be presented as required by the LLCC Board of Directors.
Some things to know about this year’s budget:
- FY20 budget includes board-approved increases in salary and benefit allocations. HR will send notification to staff regarding current approved salary increases.
- The State of Illinois approved a budget for FY 2020 which includes an appropriation to community colleges.
- The final documents from the FY20 planning and budgeting process, including approved tech fee and Perkins appropriations will be available at a later date. We will send a separate notice when they are posted.
- 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.
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.