• Budget Director:

  • CFO and Budget Director present a final draft budget to the President.

of all projects greater than $100K and must explicitly approve projects greater than $250K.

  • VPs/Provost/Deans consider capital requests from departments to submit to the Budget Office with operating budget requests.
  • Coordinates with VPs/Provost/Deans to assist in revising proposed budgets.
  • Prepares the combined annual operating budget with consideration of historical data, future growth plans, and regulatory requirements, and factors in any shifts or adjustments to staffing levels with the related fringe benefits for the salary budget.
  • Determines the available capacity for university funded capital projects (Depreciation budget less debt service obligations).
  • Presents the preliminary annual operating and capital budgets to the CFO for review.
  • Revises budgets with the CFO after the:
  • The State authorizes appropriations for the upcoming fiscal year, typically in April.
  • CPE determines caps on tuition and fee increases.
  • The Board of Regents approve tuition and fee rates.
  • CPE approves board-approved tuition and fee rates.

Approval

  • President submits the final budget package to the Finance Committee for review.
  • Finance Committee of the Board of Regents recommends the final budget package to the Board of Regents for approval.
  • Board of Regents approves the annual operating and capital budget for the fiscal year beginning July 1^{st}.

Implementation

  • Budget Director:
  • Implements the approved annual operating and capital budget in the accounting system.
  • Distributes annual operating budgets to budget managers with guidance on managing expenditures within their budgets and in compliance with expenditure authority purchasing policies.
  • Submits a copy of the approved annual operating budget to the University's webmaster for publication in compliance with state regulations.

Controls

  • Budget Director establishes and maintains system budget controls on expenditures to:
  • Limit spending to available budget through Banner system controls
  • Banner system maintenance to activate NSF controls.
  • Require full accounting codes for all expenditures – FUND, ORG, ACCT, PROG
  • Restrict unallowable expenditures by fund through manual compliance checks (see flow chart)