[Minor revision-posted1/25/18 (replaces 5/30/14 edition)]
Operating Policy and Procedure
OP 62.32: Budget Adjustments to the Annual Operating Budget
DATE: January 25, 2018
PURPOSE: The purpose of this Operating Policy/Procedure (OP) is to set forth the general policy and procedures for processing revisions to the current operating budget.
REVIEW: This OP will be reviewed in January of even-numbered years by the Chief Budget Officer with substantive revisions forwarded to the Vice President for Administration & Finance and Chief Financial Officer (VPAF/CFO).
Section 07.04, Regents' Rules, governs the budgetary controls of the institution.
A budget revision request should be submitted through the Budget Revision System. The Budget Revision System Comprehensive User's Guide provides detailed instructions for using the Budget Revision System.
Required approvals for budget revisions are outlined below:
|Fund Financial Manager||Revisions utilizing prior year fund balance|
|Organization Financial Manager||Revisions where overall expense budget is changing|
|Area/Division Vice President||Revisions for any FOP whose expense budget is being decreased|
|Vice President for Administration & Finance||Revisions increasing the operating budget on state
FOPs and for all adjustments from $250,000 to
|Vice President for Administration & Finance and Board of Regents||Revisions increasing the operating budget from
$1,000,000 or more
|Accounting Services||Revisions utilizing transfers, revenue, or fund balance on a grant fund|
|Accounting Services||Revisions utilizing transfers|
|Budget & Resource Planning & Management||For all permanent revisions, transfers, revenues, and fund balance|
The approval of any agreement or contract, in accordance with Section 07.12.1, Regents' Rules, constitutes authority to establish a maximum budget that does not exceed the amount of the approved agreement or contract.
04 Audit Services
30 Academic and Student Affairs – General
32 Academic Policies – Faculty
34 Academic Policies – Students
36 Academic Programs
40 Equal Opportunity and Affirmative Action
48 Communication Services
52 Information Technology
60 Environmental Health and Safety
61 Facilities Management
62 Financial and Accounting
63 General Services
64 Graduate Programs (Faculty and Students)
65 Research Accounting
67 Mail Services
68 Communications and Marketing
69 Payroll and Tax Services
70 Human Resources
72 Purchasing, Contracting, and Payables
77 Student Services and Registrar
78 Traffic and Parking