Budget and Fiscal Planning

Office of Budget & Fiscal Planning

The Office of Budget & Fiscal Planning offers budget training and group workshops via Webex several times throughout the year, usually before major deadlines in correspondence with 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.

Principles of Budget Development

Workday Adaptive Planning

FY23 Budget Memo FY23 Annual Budget Hearing

Mission

The Office of Budget & Fiscal Planning is responsible for the development and monitoring of the College’s operating and capital budgets, including long range planning and allocation of funds. Provides analysis and recommendations to all levels of the institution on a wide variety of financial issues. The office serves all college units, as well as providing a wide range of historical, current and forecasted information to the President, Cabinet, Board of Trustees, Office of Management and Budget (OMB), Commission on Higher Education (CHE), New Jersey Association of State Colleges and Universities (NJASCU) and other external entities. Monitors the integrity of the finance and HR systems as they relate to the budget and planning functions.

FY24 Budget & Planning Calendar

FY24 Budget Planning Calendar

Remainder of FY23 Budget Planning

Date	Action	Responsible Party
July 1, 2022	FY23 Funding available, including approved Budget Change requests	Budget Office
Mid August	Fund balances roll from FY22 to FY23	Accounting

Start of FY24 Budget Planning

Date	Action	Responsible Party
October	Fall enrollments updated in Adaptive	Budget Office & Enrollment Management
November	College submits appropriation request to NJOMB	Budget Office
December	Distribution of the FY23 Resource Planning memo to Unit Directors for SPIF and Capital Requests	Strategic Resources Advisory Board (SRAB)
January 2023	Waiver yields for FY23 provided to Budget	Admissions
February	Distribution of the FY24 Budget Planning memo for Budget Change requests	Budget Office
February	FY24 Requests for Capital (in Adaptive) submitted to core Vice Presidents	Unit Directors
March	Spring Enrollments updated in Adaptive	Budget Office & Enrollment Management
March	Governor presents a recommended State Budget for FY24	State of New Jersey
March	FY24 Budget Change requests submitted to core Vice Presidents and Budget Office using Adaptive Planning	Unit Directors
March	FY24 Projections for revenue-generating (including auxiliary) units due to Budget Office	Unit Directors
Late March	Review of SPIF and Capital requests and provide recommendations to the Mission Element Team (MET)	Strategic Resources Advisory Board (SRAB)
March – May	State holds budget hearings	State of New Jersey
Early April	Deans provide adjunct & overload projections	Deans
May 2	College presents draft of FY24 Budget in Open Forum	Budget Office & FHC
End of May	Review & approve Budget Change, SPIF & Capital requests	Mission Element Team (MET)
End of May	FY24 budget freezes for review and approval prior to BOT and Finance Committee	Budget Office & FHC
June	Legislature approves the FY24 State Budget and the College’s appropriations	State of New Jersey
June	Governor signs Final Appropriations Act into law	State of New Jersey
June 26	Board of Trustees approve the College’s budget and sets tuition and fees	Board of Trustees
July 1	FY24 funding and approved requests	Budget Office
Mid August	Fund balances roll from FY23 to FY24	Accounting