Budget Management

Although budget management at Lafayette is a continuous process that takes place throughout the year and occurs at nearly every level within the College, the following is a general description of the cycle.

July Start of the fiscal year
October Solicitation of expenditure requests (staffing, capital/facilities-related, IT, and operating) for consideration for the following fiscal year(s)
October through March Continual review, prioritization, and analyses of expenditure requests; discussions with Budget Advisory Committee, Cabinet, and Faculty Academic Policy Committee
November Enrollment Planning Committee provides guidance on FYS targets and Office of Financial Aid provides guidance about grant targets
December Budget information is reviewed with Cabinet, the Budget Advisory Committee, and the Faculty Academic Policy Committees, and input is solicited
January The Board of Trustees considers the Administration’s recommendations for tuition and fee increases, financial aid investments, and enrollment targets
March The Board of Trustees considers the Administration’s recommendations for the operating budget, including compensation-related and capital-related expenses
April Divisions and Departments distribute their budget allocations into the various accounts based on their plan of how the money will be spent
June The approved operating budget is available in Banner for authorized viewing

Finance & Administration Announcements

Purchasing policies for faculty, administrators, & staff

For information and assistance with the identification, selection, and acquisition of required goods and services visit the Purchasing site.

Contact Us

STUDENT BILLING QUESTIONS:
(610) 330-5145 or studentbilling@lafayette.edu

Finance & Administration
Office of the Vice President
Lafayette College
316 Markle Hall
Easton, PA 18042
(610) 330-5133
Fax: (610) 330-5700