Effective Date: December 8, 2009
Last Reviewed: December 8, 2009


POLICY:

Stonehill College shall develop an operating and capital budget on an annual basis. The budget development process shall be directed by the Office of Budgeting & Financial Planning. The preliminary operating and capital budget shall be reviewed by the Strategic Planning Committee, which will advise the Division Heads and the President.

The President shall submit a preliminary operating and capital budget to the Board of Trustees for review in January or February of each year. At that time, the Board of Trustees shall approve a tuition and fee rate increase for the following fiscal year. The President shall submit a final proposed budget to the Board of Trustees for their review and approval in May or June of each year. The budget shall be effective beginning the first day of the respective fiscal year.