GFOA has developed a series of Best Practices in Community College (College) Budgeting, which clearly outline steps to developing a budget that best aligns resources with student achievement goals. This document summarizes the key themes from those Best Practices, including corresponding links to the actual Best Practice, all of which are available at www.gfoa.org.
The budgeting process advocated for by the Best Practices in Community College Budgeting is focused on optimizing student achievement within available resources. It encompasses a complete cycle for long-term financial planning and budgeting, including planning the budget process, developing a budget, evaluating how the budget process worked and adjusting accordingly. Throughout this cycle, the community college’s institutional goals serve as the overarching guide for decision-making and resource allocation.
- Publication date: January 2017