Budget Policy and Planning

Section 6.E – Budget Policy and Planning

In accordance with NC General Statute 115D-54-58, the Vance-Granville Community College Board of Trustees will prepare for submission a budget request on forms provided by the State Board of Community Colleges. The budget will be based on estimates of available funds if provided by the funding authorities or as estimated by the College. The State Current Fund will be based on available funds. All other funds will be based on needs as determined by the Board and shall include the following:

1. State Current Fund
2. County Current Fund
3. Institutional Fund
4. Plant Fund

By an agreed upon fixed date, the county budget request will be submitted to the County Board of Commissioners for approval. After notification by the County of the amount appropriated to the College, the budget will be submitted for approval to the State Board of Community Colleges. Upon notification of approval by the State Board of Community Colleges, the Board of Trustees will adopt a budget resolution as defined in the budget manual adopted by the State Board of Community Colleges.

In the event that the adoption of the budget resolution is delayed until after July 1st, the Board of Trustees will authorize the President, through interim provisions, to pay salaries and other ordinary expenses of the College for the interval between the beginning of the fiscal year and the adoption of the budget resolution.

The State Board of Community Colleges will adopt rules and regulations governing the amendment of the budget for an institution. The Board of Trustees may, by appropriate resolution, authorize the President to transfer monies from one appropriation to another within the same fund, subject to any limitations established by rules and regulations of the State Board of Community Colleges, and subject to any limitations and procedures prescribed by the Board of Trustees at its next regular meeting and entered into its minutes.

(approved July 16, 2018)