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Understanding State Budget Planning and Management at UNCG

This presentation provides an overview of how initial state budgets are determined, modified, and what occurs with unspent funds at the end of the fiscal year. It covers the allocation process based on previous year's budgets, budget modification protocols like mid-year allocations and cuts, and the intricacies of budget transfers within and between state funds. Additionally, it explains the importance of program classification for high-level budgeting and reporting, and how carryover funds are managed if necessary, emphasizing communication with university leadership when anticipating budget adjustments.

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Understanding State Budget Planning and Management at UNCG

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Presentation Transcript

  1. State Fund Budgets Financial Planning & Budgets http://fsv.uncg.edu/statebudgets.ppt

  2. State Budget (Funds 11-xxxx) • How is your initial budget determined? • How is your budget modified? • What happens to unspent budget at June 30?

  3. 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

  4. 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

  5. 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.

  6. 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.

  7. 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

  8. 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

  9. 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

  10. Return to Budget Workshop Home

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