budget/inventory office door

Budget Process

Department Budget Submissions are due May 14th to the Budget Office. Please verify with your Dean or Vice President as to when they expect your online draft template to be completed for their review and approval prior to the May 14th deadline.

Each Budget Administrator is expected to review their current fiscal year expenditures and evaluate the budgets that were submitted for the current fiscal year. Changes to line item accounts should occur in most cases and funds may shift around. For example, you may have budgeted $2,000 for printing expenses in the current fiscal year and as you have made some changes in your department, you may only expect to spend $1,000 next year. Think about the past and the upcoming year and analyze what amount should be requested for printing. Do not just forward the budget template you prepared for the current year as your future year’s submission.

The on-line budget system provides budgeted and actual expenses for the last two fiscal years (through Feb of the current fiscal year in the initial load) by account code to assist in the formulation of the new fiscal year budget. The actual expenses for the current fiscal year will be updated shortly after the end of April and also May.  We have created two levels of access – Budget Entry and Budget Approval. There are several levels of approvals – Budget Administrator (required), Dean/AVP (optional) and VP (required). Those administrative support personnel with Budget Entry access can only enter budget information into the new system. Any of the potential three levels of approval can also enter and/or modify the budget information. Once the proposed budget entry is complete, the budget is reviewed and approved by the Budget Administrator, then by the Dean/AVP (if warranted), and then by the respective VP. An approval in the system by the VP indicates to the Budget Office that the proposed budget is ready for review.