State Fund Budgets Financial Planning & Budgets http://fsv.uncg.edu/statebudgets.ppt
State Budget (Funds 11-xxxx) • How is your initial budget determined? • How is your budget modified? • What happens to unspent budget at June 30?
Initial Budget • State Budgets allocated by Division based on previous year’s allocation plus or minus permanent changes since that time • Divisions handle differently from that point, but realignments between account budget pools as well as realignments between student wages and temporary wages should be made if warranted; review expenditure patterns from previous year • Divisions return to Financial Planning & Budgets • University wide budget is balanced and reconciled with the Office of State Budget & Mgt. • Notification sent in May or June for new year
Budget Modifications • State Budgets are typically modified due to: • New monies or allocations received mid-year allocated by the Chancellor based on requests received by Vice Chancellor or Provost Office • Cuts allocated by the Chancellor • Budget Transfers within or between state funds
Budget Transfers • Cannot move between funds with different “programs” (unless Budget Flexibility Revision) • A funds’ program can be determined by looking at the FOAP • The program is used for high level budgeting and reporting: Instruction, Summer Term, Student and Academic Services, etc.
Within the same “program” (101, 102, 152, etc) can transfer between: 140010 140210 Within the same “program” can transfer between these budget pools: 201000 202000 203000 203000 204000 221000 222000 223000 230000 240000 Budget Transfers Transfers between other accounts or programs require a Budget Flexibility transfer. See “Budget Flexibility” training materials to learn more.
Budget Transfers • Cannot move into/out of funds where we must maintain an additional degree of accountability or where we must prepare specialized reports: • E&T Fee supported funds • Carryforward funds
Budget Transfers • Other Resources: • See “On-Line Transfers” training materials to learn how to process a non-flexibility budget transfer • See “Budget Flexibility” training materials to learn about State Funds flexibility budget transfers
Year End (June 30) • UNCG may carryover a small percent of its appropriation budget • Chancellor’s new year initiatives and reserves that use most of these monies • Any excess is reverted to the State • Contact Provost or VC in the fall of the current year if you anticipate that a carryover will be required to the next year due to extraordinary circumstances • Unless approved by the Chancellor, unspent monies at on year end will not be re-budgeted in the new year