Budget Amendment (Procedure 5.0100)

 

Purpose:

To provide a mechanism to reallocate existing budgeted funds and to allocate new funds.

Procedure:

1. Definitions:
   
   
   1. Unrestricted Current Fund - Fund 1,General Operating Fund. This fund is used to account for the primary and supporting objectives of the College.
   2. Restricted Current Fund - Fund 2, This fund is used to account for the primary and supporting objectives of the College in which the resources have been restricted by the donors or other outside agencies.
   3. Auxiliary Fund - Fund 3, This fund is for non-instructional services for sale to students, faculty, and staff, which are intended to be self-supporting.
   4. Unexpended Plant and Renewal/Replacement Fund - Fund 7, This fund is used to account for the acquisition, construction, major repair, and/or replacement of College property.
   5. Department - An organizational unit of the College that has been allocated a portion of the annual budget.
   6. Department Budget Manager - a department chair, director, coordinator, supervisor, or other authorized individual with fiscal responsibility for an allocated portion of the College's budget.
   7. Major Object Code (Account Code) - A category of expenditures such as personnel, current expense (includes non-capitalized equipment), or capital outlay (capitalized equipment, library books, etc.)
2. Amendments may be made to the various budgeted funds within the following guidelines and reporting processes:
   
   
   1. Transfers within the Unrestricted Current Fund:
      
      
      1. Transfers within a Department and within the same Major Object Code: This includes the transfer of funds within Personnel, Current Expense (Current expense may include non-capitalized equipment: 705, 706 Accounts) and Capital Outlay categories within a specific department.
         
         Processed with the approval of the Department Budget Manager and reported to the Board monthly.
      2. Transfers between Departments within the same Major Object Codes: This includes the transfer of funds within Personnel, Current Expense (Current expense may include non-capitalized equipment: 705, 706 Accounts) and Capital Outlay categories between departments.
         
         Processed with the approval of both Department Budget Managers and reported to the Board monthly.
      3. . Transfers between Major Object Codes of same or different Departments: This includes the transfer of funds between Personnel, Current Expense and Capital Outlay categories within a department or to a different department.
      4. Processed with the approval of both Department Budget Managers AND Divisional Vice President(s) and reported to the Board monthly.
      5. Changes in revenue budgets and changes to fund balance reserves not affecting statutory requirements: Requires the Vice President of Administrative and Business Services and Presidential approval and is reported monthly to the Board.
      6. Transfers from Fund 1 and transfers causing the unencumbered fund balance to be inconsistent with statutory requirements: Requires approval of the Vice President of Administrative and Business Services, the President, the Board and the Department of Education.
   2. Transfers within the Restricted Current Fund Budget.
      
      Transfers must conform with the respective grantor's or donor's regulations and restrictions.
      
      Processed with approval of the appropriate Project Director, Supervisor, Department Budget Manager, or other authorized individual and reported to the Board quarterly.
   3. Transfers within the Auxiliary Fund Budget.
      
      
      1. Transfers within a Department should conform to College and Departmental goals and objectives: Processed with approval of the Department Budget Manager or other authorized individual and reported to the Board quarterly.
      2. Transfers between departments should conform to College and Departmental goals and objectives: Processed with approval of both Departmental Budget managers, or other authorized individual(s) and reported to the Board quarterly.
      3. Transfers out of Fund 3: Processed with approval of Department Budget Manager(s), or other authorized individual(s), the Divisional Vice President and subject to College goals and objectives and reported to the Board quarterly.
   4. Transfers within the Unexpended Plant Fund Budget.
      
      
      1. Transfers within Major Object Codes, within project, and below State procurement (bidding) requirements: This includes the transfer of funds within Current Expense and Capital Outlay categories within a specific project not affected by procurement requirements, or other state regulations. Processed with approval of the Department Budget Manager and Director of Facilities and reported to the Board quarterly.
      2. Transfers between Major Objects and between projects, or transfers at or above State procurement (bidding) guidelines: This includes the transfer of funds between Current Expense and Capital Outlay categories of different projects, or transfers of a large dollar amount as defined by State procurement requirements. Transfers between projects are subject to State rules and regulations and must conform to College goals and objectives.
         
         Requires approval of the Director of Facilities, the Vice President of Administrative and Business Services, the President and the Board.

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