BP 6250 Budget Management
References:
NWCCU 2020 Standard 2.E.1
ORS 294.305 to ORS 294.565 (Local Budget Law)
The budget shall be managed in accordance with Oregon Local Budget Law. Budget revisions shall be made only in accordance with these policies and as provided by law.
Rogue Community College’s unrestricted budgeted reserves shall be no less than 5% of total budgeted operating funds revenue. Operating funds are General Fund, Intra-College Fund, and Renewal and Replacement Fund.
Revenues accruing to Rogue Community College in excess of amounts budgeted shall be added to the College’s reserve for contingencies. They are available for appropriation only upon a resolution of the Board of Education that sets forth the need according to the function classifications in accordance with applicable law.
Rescinds Policy Number: IV.A.020, IV.A.030
Adopted: January 21, 2020
Revised: May 16, 2023