Budget Development

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Assignments

• Kay will give the committee a draft copy of the internal budget process calendar on 2/1.
• Kay will provide a list of  the budgetís Transfers In and Transfers Out (of General Fund).
• Kay and Marie will provide a common list that describes ìOtherî revenues.
• Marie will provide the group more information regarding the Ending Fund Balance (EFB) the reasoning and requirements:  a) What funds on the ìrestrictedî side are not available for a whole year.  b)What is the EFB throughout the year? c)What is actual EFB vs. what do we budget?

ICP Carryover Questions
Is the department carryover as anticipated or are we charging more fees than expending on students?
Is carryover being used in a justifiable way?
Is there a way to match expenditures to fees collected and expenditures from departmental M&S budget?
Is there a better way to predict what would be in the EFB Restricted side?

Restricted vs Unrestricted
Marie gave information on a spreadsheet example that showed where Restricted and Unrestricted revenues and expenditures were located.
Discussion:

• How can Restricted and Unrestricted funds be better divided in budget materials and made more clear?
• Is there a way to build in a category for  ìunspentî funds with justification for the carryover that relate to where the $ come from?
• Are departments held accountable for carryover plans?  They need to predict what they will receive each year in fees,  describe what the plans are for projected the carryover, and demonstrate that they did follow through with stated plans.
• Some criteria needs to be set for appropriate use of carryover so any variance would be planned for.
• Plans would be flexible and transparent.