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 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. Unexpected 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.
         
         
      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.
         
         
      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.
         
         Processed with the approval of both Department Budget Managers and Divisional Vice Presidents(s).
         
         
      4. Changes in revenue budgets and changes to fund balance reserves not affecting statutory requirements: Requires the Vice President of Business Operations/CFO.
      5. Transfers from Fund 1 and transfers causing the unencumbered fund balance to be inconsistent with statutory requirements:  Requires approval of the Vice President of Business Operations/CFO, the President, the Board, and the Department of Education.
         
         
   2. Transfers within the Restricted Current Fund Budget.
      1. Transfers must conforms 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.
         
         
      2. Restricted Fund Budget Amendments summarize the above changes and are reported to the Board.
         
         
   3. Transfers within the Auxiliary Fund Budget.
      
      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 annually.
      
      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).
      
      Transfers out of Fund 3: Processed with approval of Department Budget Manager(s), or other authorized individual(s), the Vice President of Business Operations/CFO, the President, and the Board.
      
      
   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 significant updates reported to the Board periodically.
      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.
      3. Transfers between projects are subject to State rules and regulations and must conform to College goals and objectives.
      4. Transfers between approved projects that do not increase the total expenditure budget for Fund 7 require approval of the Vice President of Business Operations/CFO.
      5.  When budget adjustments increase total expenditures for all approved projects on the Unexpended Plant Funds Budget, a Fund 7 Budget Amendment approved by the Vice President of Business Operations and the President should be submitted to the Board for approval at the next Board meeting.
      6.  Except in emergency situations, projects over $100,000 that are not on the most current Capital Outlay Budget submitted to the Board should not begin construction without prior approval of the Board via the Capital Outlay Initial Budget (to start a new fiscal year) or a Capital Outlay Budget Amendment.
         
         

Rulemaking Authority and Law(s) Implemented: sec Rule 5.010; Florida Administrative Code 6A-14.075, .0716 

History: Adopted 12/2002; Revised 03/2024