Financial Resources

Here you can find information that elaborates on Hostos Community College's budget distribution, financial resources, and annual timelines. Documents may be updated to reflect current details.
 

Hostos Budget Process

The Hostos Budget Process document is updated annually. It includes up-to-date details on budget distribution, available resources, and capital funding, as well as general information on budget and allocation processes. This Fall 2021 version reflects the current fiscal environment and the continued impact of the COVID-19 pandemic on our budget.

Hostos Budget Process - Updated August 2021 (.pdf) 

Document Contents:

• The Budget Components and Financial Planning Process
• FY 2021 – 2022 Budget Conditions & the Impact of the COVID-19 Pandemic
• Financial Trends
• Appendicies
  • Appendix A: General Budget Allocation Process for CUNY
  • Appendix B: CUNY Community College Funding Process and Timeline
  • Appendix C: Flow of Funds
  • Appendix D: Hostos Budget Timeline

Hostos Budget Process - Previous Versions

• October 2020 update (.pdf)
• September 2019 update (.pdf)
• October 2018 (original document) (.pdf)

Available Resources and Financial Reporting

These documents include charts and graphs with:

• The College Budget Distribution by Major Purpose 
• Capital Funding

These graphics match those shared at All College Meetings, held by the Office of the President.

• FY 2019-2020 (.pdf)
• FY 2018-2019 (.pdf)
• FY 2017-2018 (.pdf)
• FY 2016-2017 (.pdf)
• FY 2015-2016 (.pdf)

Budget Timeline

Below, you can find a general outline of key dates during the fiscal year. The actual timeline each year is dependent on when the budget allocation is received from CUNY Central Office.

April-May (Previous FY):

• VP of Administration and Finance meets with individual division vice presidents to begin conversation on the new fiscal year budget. Division VPs provide a list of anticipated vacancies, OTPS needs, and special initiatives they are looking to fund as part of strategic initiative operational planning.
• VP of Administration consolidates requests and has a discussion with the college President.

START OF FISCAL YEAR  (JULY 1)

July/August:

• The college receives its budget allocation from CUNY Central Office.
• The college budget allocation is reconciled against the requests received from divisions and annual operational plans. The Budget Office compiles the allocations for each Division.
• The President gives final approval of budget allocations.

August:

• VP of Administration and Finance, and Budget Director have individual meetings with division VPs to provide information on allocations, including full-time staff, temp services, adjuncts, and OTPS. These allocations would include any special initiatives approved by the President as part of operational plans.
• Following individual meetings with Division heads, the Budget Office, and division liaisons work together to outline how individual allocations for each unit/ department will align with the division allocation.

September:

• The financial plan is developed for submission to the University.
• The financial plan and operating budget are distributed to the college community with the assistance of the Budget and Finance Subcommittee of the College Wide Senate.
• Division liaisons work with the Budget Office to ensure spending is aligned with their division’s allocation.

Ongoing:

• Division liaisons work with the Budget Office to ensure spending is aligned with their division’s allocation.