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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.

FY24 Budget Book

FY24 Budget Memo

FY24 Budget Open Forum

Releasing FY24 Budget Change Request Funds

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

Remainder of FY24 Budget Planning

Date	Action	Responsible Party
July 1	FY24 funding available and approved requests	Budget Office
Mid August	Fund balances roll from FY23 to FY24	Accounting

Start of FY25 Budget Planning

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 12, 2024	Distribution of the FY25 Capital Planning memo to Unit Directors	Michael Yankovich
January	Distribution of the FY25 Budget Planning memo for Budget Change requests	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	FY25 Budget Change requests submitted to core Vice Presidents & Budget Office	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 June 1 fall on a weekend, requests are due the Monday thereafter