1, The finance officer is responsible for maintaining and adhering to the institutional budget guidelines within the financial reporting system. The officer has ultimate accountability for how a budget is managed.

Scenario: You recommended some budget requests to the president. You just learned the business department received an endowment for the new business management program and that staff in the administrative building have been relocated because of the failed HVAC system. You received approval from the president to adjust the budget based on the new considerations. In the next week, you will be presenting the colleges' finances at a college-wide meeting.

FYI - The administrative building HVAC system needs to be replaced ($180,000).

1. Describe the institutional mission of the college.
2. Explain the effect of economic changes on budgeting.
3. Analyze contextual factors that influence budgeting.
4. Analyze the type of budgeting employed by the college, including various sources of funding, tuition and fees, philanthropy, special interest groups, and private enterprise financing, and other areas related to college budgeting.
5. Explain the budget cycle.
6. Discuss approved funding request priorities.
7. Identify new funding and expenditures.
8. Project future revenue and expenditures.