College of Micronesia - FSM |
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FY 2008 Budget Timeline (Amended June 30, 2006) |
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Original |
Revised |
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Action |
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Responsibility |
3-May-06 |
3-May-06 |
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Planning Council and Finance Committee joint |
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Planning Council/ |
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meeting to discuss and
recommend FY08 |
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Finance Committee |
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budget guidelines and
timeline. |
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4-May-06 |
4-May-06 |
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Cabinet to review the recommended budget |
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Cabinet |
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guidelines from
Planning Council/Finance Comm. |
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18-May-06 |
18-May-06 |
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Board to approve/disapprove FY08 budget |
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Board |
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guidelines. |
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22-May-06 |
22-May-06 |
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President to disseminate budget guidelines and |
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President |
to |
to |
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timeline to VPs and
Directors/Office Heads. |
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31-May-06 |
31-May-06 |
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Co-chair of Planning Council to establish institutional |
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IRPO |
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priorities. |
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SC Director/VPIA/IRPO to prepare revenue projection. |
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SC Director/VPIA |
1-Jun-06 |
1-Jun-06 |
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Directors/Office Heads prepare the budget in |
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Directors/Office Heads |
to |
to |
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consultation with the
respective VP. |
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30-Jun-06 |
18-Aug-06 |
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Training/discussions of the formulation of budgets. |
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VP to handle program evaluation/assessment |
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VPs |
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in formulating the
budget. |
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VP to conduct budget hearings with directors/ |
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VPs |
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office heads. |
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President and VPs to review and approve/disapprove |
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President/VPs |
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requests for new
positions. |
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VPIA and SC Directors to prepare the projected |
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VPIA and SC Director |
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revenue budget, and
submit to President. |
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18-Aug-06 |
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President and VPA provides formula for the allocation |
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President/VPA |
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Of the appropriation. |
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1-Jul-06 |
21-Aug-06 |
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SC Directors consolidate the campus budget. |
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State Campus Directors/ |
to |
to |
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Office Heads finalize their office budget. |
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VPs |
31-Jul-06 |
1-Sep-06 |
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Office Heads/SC Director submits budget to VPs. |
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4-Sep-06 |
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VPs finalize the budgets of divisions/offices |
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to |
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under his/her
department. |
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15-Sep-06 |
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18-Sep-06 |
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VPs submit line item budget to Chair of Finance Committee |
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and performance budget
to Co-chair of Planning Council for
consolidation. |
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1-Aug-06 |
19-Sep-06 |
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Chair of Finance to consolidate line item budget. |
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Chair of Finance |
to |
to |
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Co-chair of Planning Council to consolidate performance |
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Co-chair of Planning |
15-Aug-06 |
29-Sep-06 |
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budget. |
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Council |
16-Aug-06 |
2-Oct-06 |
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VPs to review the consolidated budget and handles |
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VPs |
to |
to |
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the balancing of
system wide budget. |
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30-Sep-06 |
27-Oct-06 |
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1-Oct-06 |
30-Oct-06 |
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VP-Administration prepares the final budget |
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VP - Administration |
to |
to |
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documents to the
Cabinet. |
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8-Oct-06 |
3-Nov-06 |
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9-Oct-06 |
6-Nov-06 |
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Cabinet reviews budget for submission to the |
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Cabinet |
to |
to |
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Board for approval. |
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30-Oct-06 |
17-Nov-06 |
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Final revision of the budget, if any. |
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1-Nov-06 |
20-Nov-06 |
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President to prepare the directive endorsing the FY08 budget. |
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President |
4-Dec-06 |
4-Dec-06 |
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Board to approve/disapprove the FY08 budget. |
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Board |
11-Dec-06 |
11-Dec-06 |
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President to transmit to FSM the FY08 budget. |
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President |
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