html5-img
1 / 15

Budget Flexibility

Budget Flexibility. Financial Planning & Budgets http://fsv.uncg.edu/budgetflex.ppt. Budget Flexibility. Budget Flexibility. What is Budget Flexibility? When is Budget Flexibility applicable? What is reported to the Board of Governors?

Leo
Télécharger la présentation

Budget Flexibility

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Budget Flexibility Financial Planning & Budgets http://fsv.uncg.edu/budgetflex.ppt

  2. Budget Flexibility

  3. Budget Flexibility • What is Budget Flexibility? • When is Budget Flexibility applicable? • What is reported to the Board of Governors? • What are the requirements for UNCG to retain budget flexibility? • How is the Budget Flexibility Form completed?

  4. Budget Flexibility • What is Budget Flexibility? • applies only to State Funds • is the result of Legislation • allows Universities to transfer budget in ways that were previously not available without the State Budget Office approval • increases the campus purchasing benchmark • allows Universities to carryforward monies from one year to the next (with institutional limits)

  5. Budget Flexibility • When is Budget Flexibility applicable? • Transfer budget between personnel accounts (for example between SPA and Temporary Wages) or between personnel and non-personnel accounts (for example utilizing lapsed Teaching salaries for equipment) • Transfers between Programs • Chancellor’s allocation of year end carryforward funds

  6. Budget Flexibility • What is reported to the President and/or Board of Governors? • Monthly report of revenues and expenditures • Financial plan for use of prior year carryforward and use of current year projected lapsed salaries (due July 15-subject to delays in the State budget process) • Previous fiscal year’s Annual Report (due following October 10) • describes management initiatives undertaken • (continued)

  7. Budget Flexibility • What is reported to the President and/or Board of Governors (continued)? • increased efficiency and effectiveness • documentation of reallocation of resources (including actual uses of lapsed salaries) • actual uses of prior year carryforward • positions established and abolished • positions vacant > than 9 months and an explanation for the vacancy • Chancellor’s compliance certification

  8. Budget Flexibility • What are the requirements for UNCG to retain budget flexibility? • Chancellor is personally responsible • Adequate internal controls and capable staff • No significant audit findings; resolution • President must approve plan for uses of carryforward and lapsed salary • Annual reporting • Internal Auditor report to the Chancellor concerning his review of transactions involving Budget Flexibility

  9. Budget Flexibility • The Chancellor must also submit to the President: • Plan of previous year’s carryforward • Plan for campus-wide use of lapsed salaries • List of /and explanation for vacant positions which have been vacant for > 9 months

  10. Budget Flexibility • Other Issues: • Chancellor cannot delegate flexibility approval authority below Provost or VC level • Internal Auditor’s role has increased in relation to increased reporting requirements for the use of lapsed salaries

  11. Budget Flexibility • How do you process a Flexibility Request? • Plan! Try to limit volume; we suggest an informal $500 minimum due to the time and amount of people involved with approving and processing each flexibility request • Must be approved by the Provost or VC • (continued)

  12. Budget Flexibility • How do you process a Flexibility Request (continued)? • Identify position if using lapsed salaries • SPA lapsed salaries can only be used to hire a Temporary to fulfill the vacant position’s duties • Determine most applicable “Reason” for the flex • (continued)

  13. Budget Flexibility • How do you process a Flexibility Request (continued)? • Describe the initiative that was made possible by the flex • Please consider that the information on all flexibility requests is compiled into the Budget Flexibility Report each year-if explanations are not sufficient, the process takes more time and creates additional work

  14. Budget Flexibility • In summary, Budget Flexibility has allowed UNCG and other UNC institutions to accomplish significant initiatives that otherwise would not have been possible • Budget Flexibility is a privilege that may be rescinded • Please be descriptive on the Flexibility Requests and respond to our inquiries as soon as possible. GA’s deadlines are real and may be short!

  15. Return to Budget Workshop Home

More Related