TMCC's Budget and Financial Planning Process

See also: Planning Process Involvement • Annual Budget Development Calendar

TMCC relies on a unified, college-wide system to develop financial plans, allocate resources and track expenditures. The president and the cabinet function as the starting point from which the college's budget and financial planning decisions flow. Using such long-range planning documents as Strategic Planning, the Facilities Master Plan and documents developed in each division of the college to anticipate emerging needs for personnel, equipment and support, the president is able to design a long-term budgeting plan that addresses the development, conservation, and allocation of resources commensurate with the college's current mission statement and projected institutional growth. Priorities for the current budget year are established and announced by the president to the college community.

Planning priorities at TMCC emerge from data and information on future development and program growth generated at the department and division level, and all divisions follow a similar process. Departments submit to the appropriate dean or president's cabinet member prioritized budget requests, backed by data justifying the request in terms of such variables as the ratio of part-time to full-time faculty within the department, student enrollment patterns, future growth projections and the significance of the program in fulfilling the college's academic mission. In consultation with department chairs, deans make the final decision as to the priority of budget requests in their area, and then meet with the deans from the various academic areas to negotiate the final prioritized list of requests for the college as a whole. This list is forwarded to the Vice President of Academic Affairs and Student Services for approval. The final decision as to the number of budget requests the college will fund for the upcoming year is determined only after the legislature's budget appropriation becomes official.

Budget requests should be consistent with and designed to meet one or more of the strategic initiatives of the college. Budget requests originate within departments and are processed through the deans and vice presidents for presentation, review and discussion by the president's cabinet. Cabinet members are then responsible for communicating the essence of the president's cabinet discussion, the resulting budget and final decisions with their deans, directors and department chairs.

Source: Summarized from September 2005 Final Self Study Report, Standard 7