Budget Policies and Guidelines
- Performance-based increases for staff should average the University approved target. The budgets in Ledger 2 staff salary subcodes will be increased by that percentage to support the annual wage and salary program.
- Operating budgets will be unchanged from the prior fiscal year (below-the-line, non-payroll, budgets).
- Spending rates of will range from 0% to 7.5% based on metrics of Trustees' approved targets.
- Initially, 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, 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 of the previous fiscal year.
- During August and September, 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 of the previous fiscal year.
- In October, 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 the new fiscal year, 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 the current fiscal year. Dean's approval will be subject to affordability within the context of overall College endowment use.
