![]() Once the final budget is approved, the office of Budget and Financial Planning administers and manages it throughout the year to ensure that it continues to support the University’s mission. This budget is presented to the Board of Trustees for final approval at its spring meeting. Through the collective efforts and teamwork of the office of Budget and Financial Planning, Treasury, and Human Resources, the operating, endowment, and compensation budgets are combined to create the final University budget. Compensation expenses are developed through the salary planning system which is administered by Human Resources. ![]() The endowment portion of the budget is prepared separately by Treasury and added to the unrestricted program budget. After the budget worksheets are accumulated, the office of Budget and Financial Planning posts departmental operating budgets into the PeopleSoft Financials system. ![]() The unrestricted program portion of the process is developed through the preparation of annual budget worksheets for each University department and usually takes place in February. Once funding allocations have been established, the annual line-item budget is prepared using multiple separate processes that are then combined into one final budget. In December and January, the Chancellor’s Cabinet reviews projected revenues and expenses and then decides the amount of funding to provide to each area. The annual budget process begins in late fall when the University administration discusses preliminary assumptions regarding next year’s budget with the Board of Trustees. ![]() Budget Planning and Administration Budget Planning ![]()
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