Budget Request

 

The purpose of the budget request is to 1) transfer funds between budget categories within the same account, or 2) from one account to another, or 3) to request an additional allocation to the approved operating budget.  Such a transfer may become necessary when anticipated expenditures exceed the existing free balance reflected in the Monthly Account Statement.


The approval of the budget for expenditures (and encumbrances) is not authorized until the necessary approvals are obtained and the budget is entered into the accounting system.  In the case of additional allocations, this will require Board Approval as specified.


The requested transfer should not exceed the category’s free balance.  The originating department must verify the availability of funds online, adjusted for any transactions or transfers not yet processed.


Funds cannot be transferred from a State account to a Local account.

  1. Budget Request - Change in Budget Categories within the same account 
    1. This type of budget request should be completed and submitted to the Business Office.  A written email request is acceptable and the Business Office will execute the request.  

    
     2.  Budget Request - Transfer from Account to Account

  1. The budget request should be completed and approved by the budgetary unit head.  The total increase and decrease must be equal on this budget request.  If two different budgetary unit heads are involved, both must approve the request. 
  2. Approval must then be obtained from the Senior Administrator, the Vice President for Business Affairs and Finance, and the President.
  3. The Business Office will then execute the budget request by assigning the batch reference number, verifying availability, and noting the date.  It is then transferred to the first account (increase) on the budget request.  The approved budget changes are incorporated into the university’s operating budget through this process.
  4. The budgetary unit is authorized to execute expenditures against the      approved budget changes when he/she receives an approved copy of the budget change.

 

      3. Budget Request - Additional Appropriations

  1. The budget request should be completed and approved by the budgetary unit head.  The justification should be completed with detailed plans as to why the expenditure budget increase is needed.  An increase must be justified with a detailed expenditure plan; i.e., an increase is not justified by the Senior Administrator.
  2. The budget request must then be approved by the Senior Administrator.
  3. If the additional appropriation request is less than $50,000:
    1. The Vice President for Business Affairs and Finance and then the President must each review and approve the budget request.
    2. The Business Office will complete the budget request by assigning the batch reference number, verifying fund availability, and noting the date.  Funds are transferred to the account (increase) on the budget request.  Through this process the approved budget request is incorporated into the university’s operating budget.
    3. The budget request will be placed on the next Board Agenda for ratification at its next meeting.
  4. If the additional appropriation request is greater than $50,000:
    1. The Vice President for Business Affairs and Finance and the President must each review and approve the budget request.
    2. The Board of Regents will then be asked for approval of the budget request.  The Board of Regents agenda item and its date of approval will be entered on the budget request.
    3. The Business Office will complete the budget request by assigning the batch reference number, verifying fund availability, and noting the date.  Funds are transferred to the account (increase) on the budget request.  Through this process, the approved budget request is incorporated into the university’s operating budget.

 

Any questions regarding budget requests should be directed to the budget office.         


Responsible for Implementation:  Vice President for Business Affairs and Finance

 

Contact for Revision:  Budget Office