D-1 : Annual Budget/Resource Priorities
Adoption Date: 04/20/92 | Revision Date: 05/18/98 | Revision Date: 08/26/08
Prairie State College shall adopt an annual budget prior to or within the first quarter of each fiscal year. Such budget shall be in full compliance with the appropriate provisions of the Illinois Public Community College Act and shall serve as a fiscal plan for executing the College's Mission, Vision Statements, and Strategic Agenda.
Priorities in providing resources to meet the educational purposes of the College shall be established. Resources shall be allocated in a manner within the budget in order to achieve maximum education and service benefits to the College community and consistent with the Strategic Agenda and operational plans of the College.
In recognition of its obligation and commitment to the public trust and sound fiscal management, the Board of Trustees expects the President to propose and implement an annual operating budget that balances the fiscal year’s expenses with revenue.
The use of accumulated fund balance(s) is subject to the recommendation of the President and approval of the Board of Trustees.
The Board directs the faculty and staff of the College to develop and conduct programs, services, and operations to be fully responsive to sound fiscal management and to assure public trust and confidence.
The President shall be authorized to develop and establish administrative rules and procedures for the development and implementation of an annual budget which affirms resource priorities, sound fiscal management, and a positive year-end operating funds balance.