The University Budget Office is responsible for all the processes, policies, and issues related to the University’s operating, non-operating, and capital budgets. This includes budget planning and forecasting, managing the annual budget process, monitoring budgets, and supporting the budget systems. We strive to provide appropriate guidance as well as timely and accurate budgetary and expenditure information to both internal and external constituents. See the flow diagram below for additional details on the cycle and timing of major budget processes throughout the fiscal year.
Macro Budget Process
- JULY - New Fiscal Year begins
- AUG/SEPT - Macro Budget Planning for next fiscal year
- OCT - New fund requests for the coming fiscal year submitted for review to the University Budget Council (UBC)
- NOV/DEC - UBC develops Macro budget for Finance Committee's consideration
- FEB - University Board of Trustees reviews and approves Macro budget recommendations from the Finance Committee.
Micro Budget Process
- APR - Micro-budget operating expense and endowment allocations distributed.
- MAY - Faculty & Staff salary and benefits finalized.
- JUNE - All balanced budgets are loaded into Adaptive Planning and published to Workday Financials.