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CON Budget/Financial Principles and Practice: Difference between revisions
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CON Budget/Financial Principles and Practice (view source)
Revision as of 15:45, April 29, 2015
, April 29, 2015→Budget Activity and Time Line
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====Budget Activity and Time Line==== | ====Budget Activity and Time Line==== | ||
<p style="margin-bottom:15px; max-width:70em !important;">Unit administrators with budget authority develop a proposed budget for the next fiscal year and are expected to monitor expenditures throughout the year. Budgets are “zero-based,” i.e., expenses and revenues balance with no carry-forward of year-end unexpended balances.</p> | <p style="margin-bottom:15px; max-width:70em !important;">Unit administrators with budget authority develop a proposed budget for the next fiscal year and are expected to monitor expenditures throughout the year. Budgets are “zero-based,” i.e., expenses and revenues balance with no carry-forward of year-end unexpended balances.</p> | ||
<p style="margin-bottom:15px; max-width:70em !important;">Each unit is responsible for activity planning for the next year. This includes a re-evaluation of assumptions, analyses, plans, and budgets used in the previous year's planning and budgeting process. Since goals and objectives may change from year to year, data that feed plans and budgets must be reevaluated each year to ensure that they reflect today's environment. A budget plan projects resource needs which are translated into dollar figures. For purposes of unit budget planning, the following categories are considered by | <p style="margin-bottom:15px; max-width:70em !important;">Each unit is responsible for activity planning for the next year. This includes a re-evaluation of assumptions, analyses, plans, and budgets used in the previous year's planning and budgeting process. Since goals and objectives may change from year to year, data that feed plans and budgets must be reevaluated each year to ensure that they reflect today's environment. A budget plan projects resource needs which are translated into dollar figures. For purposes of unit budget planning, the following categories are considered by Division Assistant Deans:</p> | ||
<ul style="margin-bottom:15px; max-width:70em !important;"> | <ul style="margin-bottom:15px; max-width:70em !important;"> | ||
<li>Personnel | <li>Personnel | ||