Senior VP for Operations

Budget FAQ

Who should I contact about a budget variance?

Who should I contact about a budget variance?

Budget variances should be communicated to the finance person who supports that school/area. The finance support person can take that information combined with other known variables to determine if the area is at risk overall. The Budget Office regularly requests expected variances several times throughout the year.

The department has received a restricted gift. How can I make sure that money remains available for the designated use?

The department has received a restricted gift. How can I make sure that money remains available for the designated use?

All gifts should funnel through University Relations for processing. Gifts over $10,000 can be set up in a separate fund to ensure amount remains available for the designated use. For gifts under $10,000 the gift will be placed into the GCF fund in an org that best fits the restriction. Expenses can be tracked using activity codes.

What is the best way to capture revenues and costs related to a new program or activity?

What is the best way to capture revenues and costs related to a new program or activity?

New programs should request new orgs to track the financials, specific activities can be tracked using activity codes.

How do we get access to incentive funds?

How do we get access to incentive funds?

For items typically under $200k, the Vice President/Provost or Dean of the organization can send an email to the Budget Director requesting a transfer of funds. If an area is requesting an amount over $200k, the Budget Office would prefer to know about the expenditure during the budget process or at the very least have notice four months in advance to determine if Treasury will need to transfer funds from investment accounts.