Best Practices in Budgeting for Coconino Community College April 2015 Dr. Leah Bornstein, President Jami Van Ess, Vice President of Business and Administrative Services Dr. Russ Rothamer, Vice President of Academic Affairs

Budgeting Best Practices

Identifying Best Practices in Budgeting  Leveraging the budget process to align resources to student outcomes. 3 Academic Programs Student Outcomes Budget Process

Budgeting Best Practices for Community Colleges 1. Prepare & Develop Inputs to the Budget Process  Adopt/Re-Affirm budgeting principles and policies to guide the budget process  Examine internal and external forces that impact the budget 2. Define Goals & Identify Gaps  Develop goals for the college and its sub-units  Determine the gaps between the goals and current state, and identify the root causes of the gaps 3. Develop Strategies to Achieve the Goals  Research proven policies and practices  Develop strategies college-budget-resources/best 4

Budgeting Best Practices for Community Colleges 4. Prioritize Spending to Enact the Strategies & Allocate Resources  Prioritize spending to enact the strategies  Allocate funds based on the results of the prioritization process  Create a budget document that communicates how resources have been allocated to enact the strategies 5. Check Performance  Monitor and evaluate outcomes from budgeting decisions 6. Enhanced Budgeting Practices  Allocate costs of shared support services to sub-units to better understand the true cost of offering services  Establish criteria and measures for success of the budget process budget-resources/best 5

2. Define Goals & Identify Gaps  Develop goals for the college and its sub-units  Determine the gaps between the goals and current state, and identify the root causes for the gaps 6

2. Define Goals & Identify Gaps - Our Strategic Planning Process at CCC Student Success: The Heart and Purpose of CCC Re-Visioning Through Strategic Planning January 2016-December 2020  Strategic Planning Timeline June 2014 – January 2016  Environmental Scan  Goals, Objectives, Tactics  New Plan Publication and Implementation 7

Performance Metrics

Composite Financial Index

4. Prioritize Spending to Enact Strategies and Allocate Resources  Prioritize spending to enact the strategies  Allocate funds based on the results of the prioritization process  Create a budget document that communicates how resources have been allocated to enact the strategies 10

4. Prioritize Spending to Enact Strategies and Allocate Resources at CCC  Prioritize spending to enact the strategies  Financial Austerity Plan - 15 initiatives $1.28 million  3–year enrollment and financial analysis of programs and services  Implemented Linked performance measures, strategic plan initiatives, action plans, and allocation of resources  Prioritizing Academic Programs and Services: Reallocating Resources to Achieve Strategic Balance by Robert C. Dickeson  New - Summer

4. Prioritize Spending to Enact Strategies and Allocate Resources at CCC  Allocate funds based on the prioritization process  Increase Advising - $198,234 (Responsible - Dean of Student Services)  Implement Student Portal - $28,800 (Responsible - Chief Technology Officer)  Implement Math Computer Lab/Math Lab Assistants - $74,087 (Responsible – VP of Academic Affairs):  Assess Starfish for early alert and make adjustments (Responsible - Dean of Student Services)  Assess Starfish for probation students and implement adjustments (Responsible - Dean of Students)  Hire Instructional Designer - $61,490 (Responsible – VP of Academic Affairs)  Upgrade ITV environment -$44,353 (Responsible - Chief Technology Officer) 12

4. Prioritize Spending to Enact Strategies and Allocate Resources at CCC  Create a budget document that communicates how resources have been allocated to enact the strategies – Telling the Story  Challenges  Goals - SMARTER  Initiatives to overcome challenges and improve results  Financial Plan – revenues, expenditures, reserves, debt and capital  Long-term financial planning and risk management admin/adopted-budgets/FY_2015_GFOA_Budget_Book.pdf 13

Participate in Budgeting for Student Success  If you are interested…  Draft best practices  Enhancing and/or implementing aligning your budget process to your strategic goals  Application for the Inaugural Award for Best Practices in School Budgeting for the Budget  Education & Training 14

Questions? 15 Thank You!