GSCC’s internal budgeting system serves two purposes. The first is to set guidelines for annual expenditures in cost centers (called budget units) under the control of the manager for the area (called Budget Manager). The second is to serves as the foundation for the annual budget submitted to the State Board of Trustees.
The budgeting process begins in March for the fiscal year beginning the following October 1. A Budget Manager meeting is held in March / April, at which time Budget Managers are given an update on the state of the College. They are also given instructions for contributing their input to the budgeting process.
During May / June, the Director of Financial Services verifies salary and benefits amounts for every employee, compiles revenue and expenditure estimates, and prepares budget reports to reflect the anticipated overage or shortage. The President and Cabinet Members will then meet to make the necessary changes to the budget.
When the budget is complete, the figures are transferred to a format accepted by the Alabama Community College System (ACCS) and sent for State Board of Trustees approval. GSCC is required by ACCS to operate within this budget. Any request made to the State Board of Trustees during the year must be supported by the budget. For example, if a request to purchase a $250,000 piece of equipment using federal vocation funds is sent to ACCS, the budget must reflect a federal vocation grant of at least $250,000. Budget revisions may be requested through ACCS if changes are required during the year.
Projected budgets are available via Self Service Banner when access is allowed to the computer system in October.
Budgets can be monitored using Self Service Banner.