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Budget

Overview

Calbright College is California’s only fully online community college. Funded by the State, its programs are currently free to California residents. Calbright’s Board of Trustees, as well as State and California Community Colleges system policies, require that each annual budget meet the following criteria:

  1. The annual budget shall support the College’s strategic priorities.
  2. Assumptions upon which the budget is based are presented to the Board for review.
  3. A schedule is provided to the Board by March of each year that includes dates for presentation of the tentative budget, required public hearing, Board study sessions, and approval of the final budget. At the public hearing, interested persons may appear and address the Board regarding the proposed budget or any item in the proposed budget.
  4. Unrestricted general reserves shall be no less than five percent (5%) of the general fund.
  5. Changes in the assumptions upon which the budget was based shall be reported to the Board in a timely manner.
  6. Budget projections address long-term goals and commitments.

Timeline

Each budget’s timeline for the following year is developed by March.  Calbright’s administration produces a tentative budget for the Board of Trustees to review each June. Board study sessions and development of the budget, including public hearings, then occur from July-August, with a completed budget voted upon and sent to the Chancellor of the California Community Colleges in September.

After the budget is approved, the Chief Executive Officer/President (or designee) shall make quarterly periodic reports to the Board and shall keep the Board fully advised regarding the financial status of the College, including a mid-year report showing the financial and budgetary condition of the College.

Budgets

Calbright College was established by the State of California in June, 2018, and its first annual budget was for fiscal year 2020. Below are current and past summaries of our budgets: