Budget Policies and Guidelines
Fiscal Year 2008/2009
- Performance-based increases for staff should average 3%. The budgets in Ledger 2 staff salary subcodes will be increased 3% to support the annual wage and salary program.
- Operating budgets will be unchanged from 2007/08 (below-the-line, non-payroll, budgets).
- Spending rates of 5.5% for all restricted endowments assigned to departments and programs, 6.0% for funds functioning as endowments and 5.5% for true endowments.
- Initially, 2008/09 Ledger 2 budgets will be exclusive of surplus and deficit carry-forwards, academic faculty salary recovery, summer and part-time tuition supplements, and other arrangements.
- During August and September 2008, the Dean's Office will calculate and reconcile with all departments their cumulative Ledger 2 account faculty salary recovery and operating budget surplus and deficit carry-forwards through June 30, 2008.
- During August and September 2008, the Dean's Office will calculate and reconcile with all departments their cumulative Graduate Tuition Incentive Plan credits and their Part-time and Summer Tuition Reimbursements through June 30, 2008.
- In October 2008, the Dean's Office will process budget entry transactions to add budget to each departmental Ledger 2 account in a separate subcode that is reserved for prior year carry forwards and credits.
- During fiscal year 2008/09, department chairs may spend, without prior approval of the Dean, the full amount of their carry-forward if it is less than $10,000; and up to $10,000 or 20%, whichever is greater, of their carry-forward if it is greater than $10,000.
- Department chairs must obtain Dean's approval to spend their carry-forward in excess of the limits defined in the previous paragraph during fiscal year 2008/09. Dean's approval will be subject to affordability within the context of overall College endowment use.