206 Budget

P-206.1	Budgeting procedures will be carried out in accordance with the laws of the state and instructions from the Missouri Coordinating Board for Higher Education.
P-206.2	St. Charles Community College will operate on an annual budget from July 1 through June 30. The budget will be prepared annually by College administration and submitted to the Board of Trustees for approval. The Board of Trustees will review the status of the budget periodically during the year. Any amendments to the budget will be approved by the Board.
P-206.3	The annual operating budget shall be prepared according to the following guidelines for the operating reserves: The unrestricted current fund expenditures and transfers shall not exceed the unrestricted current fund revenues and transfers. The General Fund unrestricted operational reserve shall have as a goal a maximum total sum not to exceed twenty (20) percent and a minimum total sum of not less than ten (10) percent of the annual General Fund budget.
P-206.4	The President of the College shall report to the Board of Trustees, faculty and staff, at least three times each year on the financial condition of the College.
Pr-206.4.1	At a minimum, the three report dates shall be the July, October, and April Board meetings.
P-206.5	Any significant and unexpected negative change in financial conditions will be reported by the President immediately (within five days) to the Board of Trustees, faculty and staff.

**Policy Code Key**
P	Policy	PR	Procedure	D	Definition	S	Supplement

Content Owner: Donna Davis - ddavis@stchas.edu
Page Updated by:
Date Issued: 8/93
Date Revised: 2/01

Home