ANNUAL OPERATING BUDGET
Budget Development Cycle
KSU has defined an annual budget process to develop the operating budget for the state fiscal year. This process is referred to as the Budget Development Cycle. Each year around January, the budget cycle will be distributed and posted in the Budget Office section of the KSU website.
Timeline and Instructions
- Budget Cycle Calendar is communicated to units around January of each year.
- Specific budget instructions are sent to Provosts, VPs, and Executive-level personnel.
- The operating budget is approved by the Board of Regents in June of each year.
- Unit budgets are loaded into Banner following Board of Regent review and approval in June.
Budgets
- Anticipated E&G and Auxiliary revenues are used to establish the University's annual budget. The budget is limited to these estimated revenues for the fiscal year.
- Units should request an effective, efficient, and sound budget to support unit operations for the entire fiscal year.
- E&G funds can be limited to the targets provided by both the President's Office and Executive Vice President of Finance and Administration's Office.
- For units seeking additional funding, after their base budget has been approved and established, approval must be granted through the Budget Office, EVP of Finance and Administration, and President's Office, respectively.
BUDGET CONTROLS
Purpose
Kentucky State University establishes budget controls by requiring ORGs to utilize approved ACCT codes in order to purchase goods and services.
These controls apply only to expense transactions. The budget controls have been implemented to:
- Restrict unallowable expenditures on a fund by limiting the allowable Budget Account Codes on a Fund.
- Control spending to the limits approved by the Board and Administration through the Budget Cycle and/or subsequent revisions to the budget.
- Require program codes for all goods and services expensed.
Budget Query
Budget controls require sufficient budget to be available prior to the processing of an expense transaction through the procurement process. Departments may view available budget information in