Budget Cycle

LAST UPDATED: March 28, 2017

What You Should Know

Working in conjunction with the Priorities Committee in the fall of each year, the budget office prepares a budget -- reviewed and approved by the Trustees in April -- for the subsequent fiscal year that begins in July.

The budget office posts departments’ initial general fund budget appropriations in July, based on the most current salary and benefit rate information, staffing levels, standard inflation factors, and other approved changes in departments’ expense budgets. In September and October, we work with departments and with the Provost’s Office, updating the original fiscal year budget to reflect changes that have occurred since the budget was first approved the previous April.

Each spring, the budget office prepares a forecast of current year budget results. We will work on the forecast with departments as needed during February and March.

From late May through July, we work with departments to clean up the books and make sure all entries necessary for year-end close are made in a timely manner.

Learn more about Year End Close

In June, the Provost requests that major units report significant variances between budgeted and actual spending to the budget office by early September.

For more information


 

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