Budget Process Update

1
Budget Process Update

• February 14, 2007

2
Mission, Goals and Support for the Strategic Plan

• Mission statements should state the departments
  current focus
• Goals should reflect current short-term and
  long-term plans
• Link your departments focus to the Schools
  Strategic Plan
• Take advantage of work youve already done

3
Primary Functions and Responsibilities

• Include a simple list of the major activities
  performed by your area
• Describe any changes to how functions and duties
  are distributed
• If the short-term or long-term plans will alter
  functions or responsibilities, give a brief
  description of the planned impact

4
Realignment of Current Budget /Expenditure of
Rollforward Budget Balances

• These requests are a departure from prior year
  administration
• Realignment requests can be shifts between labor
  and operating or between two funds/organizations
  within a department
• Requests for spending from rollforward balances
  need to be quantified in order to identify
  funding sources to support the request

5
Common Policy and Institutional Requests

• Factors that are common across departments and
  administrative units will be addressed centrally
• Primary factor will be salary and benefit
  adjustments
• Other areas may be added as campus changes occur
  (i.e. research office, reorganization changes,
  etc.)

6
New Budget Requests

• Requests for additional budgeted spending
  authority will be listed on a standard form
• Requests must be prioritized
• Requests must identify the source of funds
• Requests must be linked to a specific goal in the
  strategic plan

7
Capital Requests

• A separate capital process is being developed
• A threshold for projects to be considered by the
  capital planning committee will be established at
  50,000
• Projects under the threshold should be requested
  through the departmental request

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Resources

• Strategic Plan
• http//www.mines.edu/admin/president/StrategicPlan
  5e209-9-0420fdbk.pdf
• Budget Documents
• http//www.is.mines.edu/budget/budget
• CSM Trailhead
• http//trailhead.mines.edu

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Key Dates

• February 15 CSM submits FY 2007-08 tuition
  proposal to Executive and Legislative offices
• March 7 Joint Budget Committee figure setting
  for higher education
• Week of February 19 Budget Office will post
  budget instructions and parameters for FY 2007-08
  requests (target date)
• Week of March 5 Departments and Administrative
  Units submit budget requests (target date)