After confronting several serious issues under its previous budgeting system, including effectiveness of funding to meet strategic goals and efficiency of spending, administrators at Colorado Mountain College decided to improve budget development for all campuses and central services by implanting a modified version of zero-based budgeting. Under zero-based budgeting, expenditures must be justified, and significant documentation and data review is required. Additionally, all expenditures must advance the college’s goals. Discuss how the zero-based system more closely aligns funding with the strategic plan and provides transparency in budgeting. Find out how the new system offered an opportunity to identify best and worst practices across the college.

11/2/2011 

Linda English, CFO; Mary Lehrman, Budget Manager, and  Steve Boyd, Purchasing Contract Manager, all from Colorado Mountain College;  moderator: Sue Menditto, Accounting Policy, NACUBO  

 

NACUBO