Budget Development

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Assignments:
o The TG will bring their own questions regarding Kaarenís ìShort-Term Productî to the group on 2/6.
o Dennis will bring his draft paper on ìWhat is transparency?î
o Give feedback to Kay Malmberg regarding the budget terminology definitions.
o E-mail Annie for agenda items.
o E-mail material ìownerî regarding questions on their material.
o Marie will bring an example of a monthly cash flow report.

Future Meetings
Determine if the group needs to meet each Thursday and Friday of each week.  TG will meet this coming Thursday (2/7) and determine if a Friday meeting would be needed.

Review the charter
Annie reminded the group that the TG was formed to review budget documents and the processes in ìthis budget processî and make recommendations to the Executive Team about how to make the budget documents and processes clearer and more understandable.  It does not say to make ìchangesî to the process.  The group will need to look at what is needed by 2/22 to fulfill this charter and how to communicate to their constituencies beforehand.  The TG  can consider later how to move forward with  long term changes.

Short Term Product
Kaaren prepared a draft format for a short-term product proposal (attached) . A summary of items that may be included in the proposal were:

1. Provide an in depth description of  ìtransparencyî
2. Recommend to break out the Restricted from the Unrestricted in the General Fund in order to track revenue from itís source and to where it was expended.
3. Recommend bringing the Restricted fund balance forward as a source of revenues against current restricted expenditures. The unexpended balance in the restricted fund budget should be the carryover into the next fiscal year.
4. Recommend that ET set clear criteria for departmental ICP.  Departments would have to state why fee has been set; how it is being expended; plans and justification for carryover; emphasize departmental accountability.
5. Recommend departments have a  five year plan for major carryovers of restricted funds.  The plan would be approved by the Board.
6. Recommend limiting carryover in ICP & M&S funds to the amount budgeted for planned acquisitions and a percentage of carryover for unplanned expenditures.  The balance of funds would then revert to general college use.
7. Describe training possibilities

1. 2002-03 Budget Calendar -  Kay Malmberg
2. Budget Terms Glossary ñ Kay Malmberg
3. Transparency Goals ñ Dennis Gilbert
4. Short Term Product Proposal ñ Kaaren OíRourke
5. History of Networking Capital ñ Marie Matsen
6. Analysis of Ending Fund Balance ñ Marie Matsen
7. Revenue Summary (Actual Amounts Matching Audit Reports)  - Marie Matsen
8. ìOtherî Revenue Details ñ Marie Matsen
9. Adjustments to Budget Simulation ñ FY02 ñ Marie Matsen
10. Budget Policy Issues ñ Marie Matsen
11. ORS Regarding Unappropriated Ending Fund Balance and Reservesñ Marie Matsen
12. LCCEA Google search for ìtransparent budget and ìcollegeî ñ Marie Matsen
13. Oregon Community Colleges FY 00 General Fund ñ Marie Matsen
14. Maricopa CC ñ Financial Advisory Council-  Marie Matsen
15. What are Budgets? ñ Marie Matsen
16. Excerpt ñ Financial Responsibilities of Boards ñ Marie Matsen

Next meeting will be Thursday, Feb. 7. , 3-5PM,  SCI 186.
AGENDA:  to draft a product that will go to the constituency.