VALENCIA COMMUNITY COLLEGE BUDGET PLANNING PRINCIPLES FOR 2012-13 The budget process and content will be part of an ongoing institutional effectiveness cycle. By using learning-centered principles, we will align our resources with Valencia’s vision, values, mission, and strategic and organizational plans.
Strive to maintain continuity of our strategic initiatives and innovations in student learning and services.
Consider the financial impact on students and the quality of the student experience.
Emphasize the value of people, strive to retain and develop quality employees.
Ensure essential levels of service in support of Valencia’s mission.
Allocate resources to best serve the needs of the college as a whole.
Continue to trust those closest to the work to apply principles of effective stewardship in the use of college resources.
Base the budget on a multi-year financial strategy that strikes a balance between making the best use of our resources and managing our fund balance*.
Make the budget process collaborative and transparent at all levels of the college.
Continue our “green” initiatives to develop a culture of sustainability at the college.
*The fund balance is an accumulation of excess revenues over expenditures that is available for use by the college. We are required by Florida Statute 1011.84(3) to maintain a minimum unallocated fund balance of at least 5% of total operating funds available.
Revised 9/22/2011 by Budget & Financial Advisory Group