Budget Control (C-47)
Original Implementation: January 25, 2000
Last Revision: July 13, 2006
The primary responsibility for budget control resides with each account manager. Secondly, the department head or supervisor of each account manager is responsible for requiring sound budget practices.
The Director of Financial Services will monitor current and plant funds accounts, excluding restricted contract and grant funds within the current funds category. If a department's expenditures exceed its budget, the Director of Financial Services will notify the department to process a budget transfer, fund transfer, or expenditure transfer.
The Purchasing system provides a budget check for funds when a department submits a requisition for a product or service. If the requisition exceeds available funds in the account, the Director of Financial Services may authorize the expenditure, pending a budget or funds transfer.
Source of Authority: Vice President for Finance and Administration
Cross Reference: Departmental Accounting Responsibilities Policy, Index C-11
Contact for Revision: Director of Financial Services
Forms: None