Much of the Budget activity will flow from on-going operations, formula-based increases and from approved Planning Initiatives. University budgets will remain static except for the following:
- Tuition Revenue budgets are formulated each year based upon enrollment projections set by the Deans and approved by Academic Affairs, and the tuition rates, as approved by the Board of Trustees
- Non-tuition revenue items will be projected by the responsible managers and reviewed and approved by the respective Leadership Team members.
- Compensation increases will be determined after considering the recommendations from Human Resources, based on market conditions and contracted obligations with bargaining units
- Capital will be incorporated into the planning and budget process
- Contracts will be budgeted consistent with the University contract obligations
All University revenues are recorded and treated as general fund revenues. Therefore, all requests for reallocation of revenue, either increase or decrease, should be directed to the Leadership Team, through the Office of Planning and Budget, for approval and verification of appropriateness given all University priorities, opportunities and constraints.
University departments should not re-charge other university departments for services rendered, including, but not limited to use of space, time, or equipment.
Faculty and Staff Salary Budgets
Each unit shall maintain an adequate budget to fully fund all positions – the elimination of a position budget is equivalent to the elimination of a position. Any surplus or deficit resulting from over or under expenditure of budget in salaries will not result in carryforward. Vacant faculty positions should be budgeted at the rank and step that the school or college expects to fill the position. Vacant staff positions should generally be budgeted at the ending salary of the most recent incumbent, or at 90% of compensation target ratios as calculated by Human Resources. The faculty budget can be moved among faculty salary categories and staff budget can be moved among staff salary categories.
The University should maintain an operating reserve for revenue and expenses. The enrollment projections should be the rational indicators that drive reserves. The university has a cash balance which can be accessed in dire emergency, and has restricted funds, which could function as reserves in the case of a cataclysmic event.
Carryforward has been eliminated except for major purchase requisitions, approved on a case by case basis.