Best Practices in Community College Budgeting
GFOA's Best Practices in Community College Budgeting provides for a comprehensive budget process framework focused on alignment of resources and desired student outcomes. The framework represents the culmination of a multi-year effort led by GFOA, with input from numerous community college officials and other experts in education finance, to develop guidelines for better budgeting, tailored specifically for community colleges.
The best practices are organized around five major phases:
- Prepare and Develop Inputs to the Budgeting Process
- Define Goals and Identify Gaps
- Develop Strategies to Close the Gaps
- Prioritize Spending to Enact Strategies and Allocate Resources
- Check Performance
Also included are recommendations on how to develop a budget document that communicates not only a college’s financial plan but also student learning objectives. To help assess and improve programs, services, and the budget process, information on incorporating continuous improvement principles are embedded throughout the framework.
GFOA's Best Practices in Community College Budgeting can be used with GFOA's Award for Best Practices in Community College Budgeting.