.

USCB Budget Process

The USCB budgeting process is based on translating the identified strategic plan initiatives into financial resources. The budget is a collaborative effort of all the members of the Chancellor's Administrative Council. The guiding budgeting philosophy is to focus allocation of funds on the core mission of the campus in the academic areas of Instruction, Academic Support and Library thereby most directly serving the students and faculty. At the same time, attention is also paid to providing all necessary services and opportunities for a high quality, total, residential collegiate experience for our students.

Departments prepare prioritized funding increase requests based on the coming year’s strategic plan objectives and review of the prior year outcome. These budget requests are submitted through channels to the appropriate member of the Chancellor's Administrative Council, who presents these requests to the Administrative Council for review, discussion and disposition. This process allows the University to get maximum results from a limited amount of available funds and facilitates coordination and collaboration of new initiatives across organizational lines. The Administrative Council works to make informed judgments about the relative merits of new and continuing investments in programs and activities across the campus. The budget planning process and procedures are evaluated annually by the Administrative Council.

Budget Development

The Budget Development generally follows the process below

December – January

Preliminary budget development begins for next fiscal year based on the following:

  1. Review Current Year Revenue & Expenses to Budget
  2. Next Fiscal Year Revenue projections
  3. Next Fiscal Year Expenditure projections
  4. Budget over/under status identified based on known variables identified

February - March

The preliminary budget for next fiscal year is presented to Administrative Council for discussion & review. Administrative Council members are also solicited for changes to EXISTING non-tuition fees and the addition of NEW non-tuition fees.

Administrative Council members submit requests for new funding needs which include:                                    

New Operating Costs for next fiscal year (plus additional two year's if known)                        

  • New Personnel Costs for next fiscal year (plus additional two year's if known)                        
    • Faculty Searches identified for next fiscal year (to be filled for 2nd fiscal year out)         

These new funding requests are compiled and distributed to Administrative Council for review, discussion. Funding strategies and priorities are identified by Administrative Council and approved by the Chancellor.                                            

A revised preliminary budget with identified strategies for addressing potential enrollment and/or tuition variances is prepared and distributed for Administrative Council verification and review.                      

March - April

Budget for next fiscal year based on identified state appropriation & identified tuition increase scenarios and Administrative Council preliminary budget is prepared for submission to the President.

April (early May)

Budget for next fiscal year presented to President for review and adjustment by Chancellor and CFO                                            

May

Annual BOT Budget document based on President’s budget review is prepared and submitted to Columbia for review and Submission to the BOT.                                             

June

Next Fiscal Year’s Budget and Tuition increase approved by BOT in June.                  

State Appropriation known in June – (Sine Die – June 7)                    

July

Line Item Budget Detail submitted for upload into on-line management systems- (This line item submission must match detail of submitted annual BOT Budget document.   No adjustments permitted until August.)

September

Fall enrollment and tuition revenues reviewed for any necessary adjustment and corresponding expenditure budget adjustments are made. (Comparable review and adjustments are made following Spring registration in February.)                 

Budget Management

Budget Management – Budget management is the responsibility of each fund administrator, who is responsible to the specific Administrative Council representative. The Administrative Council members are ultimately responsible to the Chancellor for the successful budget management of their specific areas of responsibility. The USCB Budget Office monitors and reviews the entire USCB Budget on a routine basis and works with the individual units to address specific issues or problems. The USCB Budget Office also reports the overall status of the USCB to the central offices in Columbia, who in turn provide routine reports on the current budget status to the BOT.

Web-based management information is available to each fund administrator. Training and assistance in budget development, management, and review is provided as requested. Training in the use of the web-based budget and expenditure management tools is also available upon request.