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Budget and Fiscal Planning

Mission

The Office of Budget and Fiscal Planning develops and manages the college’s operating budget, and allocates resources efficiently & effectively to support the College’s mission and advance strategic priorities. The Office encourages cost efficiencies and best practices and develops a wide range of data & financial analysis for senior administration, the President, Board of Trustees and the NJ Office of Management and Budget to assist in planning for the future.

Workday Adaptive Planning

Releasing FY24 Budget Change Request Funds

May 2024 Budget Hearing

Workday Adaptive Planning

The Office of Budget & Fiscal Planning offers budget training and group workshops via Webex several times throughout the year, usually before major deadlines related to the annual budget cycle. Pre-recorded webcasts on the annual budget request process and other instructional videos are also available via the Office’s intranet site. For any inquiries regarding Adaptive Planning, budget transfers, or unit budget allocations and forecasts, all members of the Budget Office can be reached via their college telephone extensions – though, to ensure all inquiries are promptly addressed, the best form of contact at this time is through email. For contact listings, please visit the Office of Budget & Fiscal Planning contact webpage.

FY25 Budget & Planning Calendar

FY25 Budget Planning Calendar

Date Action Responsible Party
October Fall Enrollments updated in Adaptive Budget Office & Enrollment Management
October Waiver yields for FY24 provided to Budget Admissions
November College submits FY25 appropriation request to NJOMB Budget Office
January 24, 2024 Distribution of the FY25 Capital Planning memo to Unit Directors Michael Yankovich
January 26 Distribution of the FY25 Budget Planning memo Budget Office
February 2 FY25 Capital Requests submitted to core Vice Presidents Unit Directors
February 28 FY25 Capital Requests submitted by core Vice Presidents to VP Yankovich Vice Presidents
March Spring Enrollments updated in Adaptive Budget Office & Enrollment Management
March Governor presents a recommended State Budget for FY25 State of New Jersey
March 1 * FY25 VP‐approved budget changes submitted in Adaptive Unit Directors
March FY25 Projections for revenue-generating (including auxiliary) units due to Budget Office Unit Directors
No Later Than March 27 Review of Capital requests by VP Yankovich, Facilities, and Capital Planning, and submit recommendations to the Mission Element Team (MET) Michael Yankovich and MET
March – May State holds budget hearings State of New Jersey
May Presentation of DRAFT FY25 Budget in Open Forum VP FHC
Mid May Review & approve Budget Change and Capital requests Mission Element Team (MET)
End of May FY25 budget freezes for review and approval prior to BOT and Resources Committee Budget Office & FHC
June 1 * Last day to request FY24 Budget Change funding Units & Budget Office
June Legislature approves the FY25 State Budget and the College’s appropriations State of New Jersey
June Governor signs Final Appropriations Act into Law State of New Jersey
June 24 Board of Trustees approve the College’s budget and sets tuition and fees Board of Trustees
July 1 Availability of FY25 operating budgets and approved change requests Budget Office
Mid August Fund balances roll from FY24 to FY25 Accounting

* Should March 1 or June 1 fall on a weekend, requests are due the Monday thereafter