Budget Oversight Policy
Effective October 12, 2017, the Integrated CSU Administrative Manual (ICSUAM Section 2002.00) formalized and established a systemwide policy on budget oversight and specified that each campus must establish policies and procedures to periodically monitor campus budget performance through the fiscal year.
To establish the policy and procedures governing the fiscal review and monitoring of the campus’s budget performance.
The scope of this policy includes comprehensive budgetary reviews of all revenues and expenditures supported by General/Operating fund(s) and Enterprise funds. Campuswide reviews comparing budgeted and actual revenues and expenditures, including Cabinet discussion and remediation of concerns, must be documented.
As part of its commitment toward budget oversight, the campus will conduct 2nd and 3rd quarter review of budget-to-actuals and year-end budget balance projection.
- The University Budget Office will provide summarized Operating Fund budget-to-actual reports at the division/college level to divisions at the end of 2nd and 3rd fiscal quarter.
- The Division Budget Officers, after consultation with their respective Vice Presidents, report back to the Budget Office the projected year-end budget balance available.
- The University Budget Office will conduct a comprehensive review and prepare a management report for presentation to the Cabinet.
- The Vice Presidents are expected to bring forward any concerns for their respective areas to the Cabinet for discussion and remediation.
- The University Budget Office will also provide the budget-to-actual reports and year-end budget balance projections for University Budget Advisory Committee meetings.
Roles, Responsibilities, and Authority:
The Vice President for Finance and Administrative Services has overall responsibility for campus budget oversight.
The Associate Vice President for Finance and Administrative Services is responsible for enforcing the university budget oversight policy under the leadership of the Vice President for Administration & Finance/CFO.
The Executive Director of Budget & Resource Management will establish and maintain internal processes to provide guidance to the campus community through the fiscal review process/financial assessment and implement Cabinet recommendations as appropriate.
Division Vice Presidents will assign responsibility of the division budget management to their respective Budget Officers and bring forward any concerns for their respective areas to the Cabinet for discussion and remediation.
Division/Enterprise Budget Officers will oversee management and integrity of the division’s budget, ensuring compliance with all university regulations concerning management of the related budget(s), confidentiality or records, and other related provisions on behalf of the Vice President for their respective divisions. The responsibilities include:
- Verify expenditures are authorized, appropriate, and accurate.
- Verify the accuracy of budget allocations.
- Ensure funds are expended for their intended purposes and within the designated time periods.
- Ensure baseline permanent funding will be in place for all permanent employees.
- Document an action plan prior to end of fiscal year for resolving any anticipated budgetary salary structural deficits.
- Perform financial projections at the end of 2nd and 3rd fiscal quarters.
- Complete the Budget-to-Actual Reports and submit them to the University Budget Office.
The University Budget Advisory Committee will review the budget-to-actual reports and year-end budget balance projections in its meetings.
Resources and Reference Materials: