[Moderate revision–posted 5/31/24 (replaces 6/29/22 edition)]
[PDF Version]
Operating Policy and Procedure
OP 62.32: Budget Adjustments to the Annual Operating Budget
DATE: May 31, 2024
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 Senior Vice President for Administration & Finance and Chief Financial Officer (SVPAF/CFO).
POLICY/PROCEDURE
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:
| Approval | Action |
| 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 changing |
| Senior Vice President for Administration & Finance | Revisions increasing the operating budget on state FOPs and for all adjustments from $250,000 to $1,999,999 |
| Senior Vice President for Administration & Finance and Board of Regents | Revisions increasing the operating budget from $2,000,000 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.
OP Categories
- 01 Chancellor
- 02 Development
- 04 Audit Services
- 10 President
- 30 Academic and Student Affairs – General
- 32 Academic Policies – Faculty
- 34 Academic Policies – Students
- 36 Academic Programs
- 40 Equal Opportunity
- 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
- 66 Libraries
- 67 Mail Services
- 68 Communications and Marketing
- 69 Payroll and Tax Services
- 70 Human Resources
- 72 Purchasing, Contracting, and Payables
- 73 Data Management
- 74 Research
- 76 Security
- 77 Student Services and Registrar
- 78 Traffic and Parking
- 79 Travel
- 80 Vehicles
Operating Policies & Procedures
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Address
Texas Tech Downtown Center Room 218 -
Email
officialpublications@ttu.edu