Policy 10 - Budget Adjustments
DATE ISSUED: November 1, 2001
DATE REVISED: February 15, 2007
The original University operating budget for an area will be adjusted by the Budget Office at the request of the area, when certain criteria prescribed by the University have been met. These criteria relate to materiality and other factors which are designed to minimize excessive and unnecessary work for both the budget preparers and the reviewers.
Budget adjustments are of two types:
Permanent Adjustments – These are intended to be reflected in both current and subsequent fiscal years.
Temporary Adjustments – These are intended to be reflected only in the current fiscal year and NOT in subsequent years.
Once the Budget Office makes the budget adjustments, the changes will be reflected on the monthly Financial Responsibility Reports and the quarterly Available Balance Reports, as well as on the applicable on-line Banner screens.