Rule 3342-7-02.1 | Administrative policy regarding budget administration.
(A) The primary responsibility for controlling expenditures within appropriated amounts rests with each department head. Expenditures in excess of the budget should not be incurred without the knowledge and approval of the appropriate vice president.
(B) Budget administration.
(1) Expenditures. Each vice president is responsible for the total expenditures of his or her particular major program area. If there is an overexpenditure in a particular budgetary unit or department, it is the responsibility of the vice president involved to cover the deficit either from an underexpenditure in some other department or from contingency funds available to such vice president.
(2) Transfer by department. Transfers of budgeted funds may be made by a department as between personal service, current expenses and equipment providing that no additions are made in personal services which would become a continuing obligation in succeeding fiscal years. A budget transfer form should be used for requesting a transfer and it must be approved by the appropriate vice president.
(3) Inter-departmental transfers. Transfers of budgeted funds may be made from one department to another providing that no additions are made in personal services which would become a continuing obligation in succeeding fiscal years. A budget transfer form should be used for requesting a transfer and it must be approved by the appropriate vice president.
(4) Contingency funds. Contingency funds which may be available to vice presidents may not be used for personal services which would become a continuing obligation in succeeding fiscal years.
(5) Resource management. The university is obligated to operate the budget within available resources. This implies the authority to use any available reserve funds to supplement current income. If actual current income exceeds the estimates upon which the budget was founded, additional allocations may be made by the president; however, if actual current income is less than the estimates and there is no available reserve fund, the president is obligated to reduce the budget accordingly.
(6) Reports. Detailed budget performance reports will be made available to all departments and to all vice presidents on a monthly basis. A summary budget performance report will be reviewed with the board on a quarterly basis.
Supplemental Information