Budget and Fiscal Planning
Mission
The Office of Budget and Fiscal Planning develops and manages the college’s operating budget, and allocates resources efficiently & effectively to support the College’s mission and advance strategic priorities. The Office encourages cost efficiencies and best practices and develops a wide range of data & financial analysis for senior administration, the President, Board of Trustees and the NJ Office of Management and Budget to assist in planning for the future.
Releasing FY24 Budget Change Request Funds
Workday Adaptive Planning
The Office of Budget & Fiscal Planning offers budget training and group workshops via Webex several times throughout the year, usually before major deadlines related to the annual budget cycle. Pre-recorded webcasts on the annual budget request process and other instructional videos are also available via . For any inquiries regarding Adaptive Planning, budget transfers, or unit budget allocations and forecasts, all members of the Budget Office can be reached via their college telephone extensions – though, to ensure all inquiries are promptly addressed, the best form of contact at this time is through email. For contact listings, please visit the Office of Budget & Fiscal Planning contact webpage.
FY25 Budget & Planning Calendar
Date | Action | Responsible Party |
---|---|---|
October | Fall Enrollments updated in Adaptive | Budget Office & Enrollment Management |
October | Waiver yields for FY24 provided to Budget | Admissions |
November | College submits FY25 appropriation request to NJOMB | Budget Office |
January 24, 2024 | Distribution of the FY25 Capital Planning memo to Unit Directors | Michael Yankovich |
January 26 | Distribution of the FY25 Budget Planning memo | Budget Office |
February 2 | FY25 Capital Requests submitted to core Vice Presidents | Unit Directors |
February 28 | FY25 Capital Requests submitted by core Vice Presidents to VP Yankovich | Vice Presidents |
March | Spring Enrollments updated in Adaptive | Budget Office & Enrollment Management |
March | Governor presents a recommended State Budget for FY25 | State of New Jersey |
March 1 * | FY25 VP鈥恆pproved budget changes submitted in Adaptive | Unit Directors |
March | FY25 Projections for revenue-generating (including auxiliary) units due to Budget Office | Unit Directors |
No Later Than March 27 | Review of Capital requests by VP Yankovich, Facilities, and Capital Planning, and submit recommendations to the Mission Element Team (MET) | Michael Yankovich and MET |
March – May | State holds budget hearings | State of New Jersey |
May | Presentation of DRAFT FY25 Budget in Open Forum | VP FHC |
Mid May | Review & approve Budget Change and Capital requests | Mission Element Team (MET) |
End of May | FY25 budget freezes for review and approval prior to BOT and Resources Committee | Budget Office & FHC |
June 1 * | Last day to request FY24 Budget Change funding | Units & Budget Office |
June | Legislature approves the FY25 State Budget and the College’s appropriations | State of New Jersey |
June | Governor signs Final Appropriations Act into Law | State of New Jersey |
June 24 | Board of Trustees approve the College’s budget and sets tuition and fees | Board of Trustees |
July 1 | Availability of FY25 operating budgets and approved change requests | Budget Office |
Mid August | Fund balances roll from FY24 to FY25 | Accounting |
* Should March 1 or June 1 fall on a weekend, requests are due the Monday thereafter