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Policies and Procedures

ABUSF 109

Number:

ABUSF 109

Section:

Finance & Administration

Subject:

Budget Policies and Procedures

Date:

March 1, 2010

Issued by:

Budget Manager

Authorized by:

Vice Chancellor for Finance & Administration



The USCA budgeting process is based on translating the prioritized program review requests into financial resources. The budget is a collaborative effort of all the members of the Campus Budget Committee.

I.          Policy

The guiding budgeting philosophy is to allocate as many funds as possible to the 
Academic areas of Instruction, Academic Support, and Library to most directly serve the 
students and faculty. However, strict percentages are not used for allocation purposes. Instead each budgeting head ranks his/her requests and these are then ranked again by the supervisor and so forth. This process allows the University to get maximum results from a limited amount of available funds. The budget planning process and procedures are evaluated annually by the Campus Budget Committee

II.        Procedure

a. Upcoming Fiscal Year Budget

1. September-October: A preliminary base budget for the following year is prepared by the Vice Chancellor for Business and Finance using expected state and fee revenue, annualizations of current year expenses, and known fixed cost increases.

2. September-October: Departments prepare prioritized increase requests based on the coming year's plan objectives as shown in the Program Review report and forward to the appropriate university official.

3. December-May: The budget is refined using current projections of appropriations amount and prioritizing of personnel, equipment, and operating fund increase requests on a University-wide basis by the Campus Budget Committee.

4. May: Tuition and other fee increase requests (when necessary) are prepared and forwarded to the President for Board of Trustees approval. The proposed budget for the next fiscal year is forwarded to the President for Board of Trustees approval.

5. June: Next fiscal year's budget is finalized when the appropriations bill is passed by the legislature.

           

b. Current Year Budget

1. July: The current year line item budget is uploaded into the on-line accounting system and budgeting units are authorized to commit expenditure of current year operating 
budgets.

2. September-October: Current year budget reviewed and adjusted for Fall enrollment revenues or other revenue changes. Requests for equipment and other one-time uses received, prioritized and allocated by the CBC if sufficient funds are available during the current year. Should budget shortfalls occur the CBC gives input to the Chancellor as to where expense reductions should be made.

3. February: Current fiscal year budget is reviewed and adjusted for spring enrollment and fixed-cost expenditures. Additional revenues (if any) are allocated by CBC. Should budget shortfalls occur, the CBC gives input to the Chancellor as to where expense reductions should be made.

4. April: All significant expenditures should be committed by April 1. Failure to do this may jeopardize the receipt of goods and payment of the invoice prior to year-end. Final months' expenditures are monitored by Budget and Grants Office.

5. The Vice Chancellor for Business and Finance updates the Chancellor on the overall University budget revenues and expenditures as well as any specific budget items of concern.

III.     Related Policies

IV.     Reason for Revision

         Under annual review.