Purpose:
The purpose of this policy is to document the procedures of the Dyersburg State Community College (DSCC) budgetary process.
Scope:
This policy applies to all budget managers. The DSCC budgetary process is coordinated by the Finance Manager and reviewed by the Vice President of Finance and Administrative Services.
Policy:
The budget for DSCC is processed in accordance with TBR policies and guidelines, which are forwarded by TBR each budget cycle including TBR Policy 4:01:00:00. The process consists of three primary budget cycles for submission to TBR: Estimated, Proposed, and Revised. Budget submissions include budget summary documents, analysis tables and a computer file of the personnel budget listing all positions. Preparation of budget materials and documents is coordinated by the Finance Manager, reviewed by the Vice President of Finance and Administrative Services and approved by the President. In the spring, budget managers review their budgets to estimate their needs to the end of the fiscal year. In addition, in the spring, budget managers propose the budgets for following fiscal year. Both the estimated and the proposed budgets are submitted to TBR in early May and are approved by the Board at the June Quarterly meeting of TBR.
In October, each major division requests budget revisions based on Fall enrollment and other needs occurring since the July submittal. The October Budget revisions are submitted to TBR in mid-October and approved at the December Quarterly Meeting of TBR.
Once the budget is approved by TBR, it is entered in the institution’s accounting system. Monthly account information that includes current budget and actual expenditures to date is available online to budget managers for monitoring and control. Budget revisions between cycles are made upon request through journal vouchers routed through the appropriate approval queue.
A timetable of due dates for the budget process is included in the Master Calendar each year. A copy of the budget is maintained on the Institutional Drive.
Compliance:
All administrative staff responsible for writing and maintaining DSCC policies must adhere to this policy. Persons found to be in violation of this policy will have their names reported to the President of the college.
Definitions:
Estimated Budget: budget cycle that estimates the actual expenses to the end of the year. The estimated budget is prepared along with the proposed budget in May.
Proposed Budget: budget cycle that proposes the budget for the next academic school year.
Revised Budget: budget cycle that allows the opportunity to adjust the proposed budget based on enrollment changes and other changes not known at the time of the proposed budget cycle. The Revised budget is prepared in October.
Budget Manager: person who compares actual financial results with the estimated expenditures for a given period of time and takes corrective action as necessary.
Revision History:
Revised February, 2007. Policy revised November, 2011 by the Vice President of Finance and Administrative Services. Policy approved by Administrative Council November 25, 2011. Revision approved by Admin Council on 10/27/2022.