Type of Policy
Budget, Planning and Administration
Dir-Institute & Capital Plan Budget Mgt
Reason for Policy
Units have the option to budget estimated Tuition Differentials and Study Abroad Program revenues for the current fiscal year in September. This allows use of funds before the actual revenues for Fall and Spring are known.
- Departments are allowed to “pre-budget” up to but not exceeding the total actual revenue earned in the prior fiscal year. Actuals information is provided by the Bursar’s Office. The 5% administrative overhead retained by the Institute should not be included in the department’s budget. It is the responsibility of units to submit a budget amendment in September to receive their early allocations.
- The Bursar’s Office will report to units the actual Fall and Spring differentials and studies abroad revenue earned. Fall totals will be reported no later than the first work day of December, and Spring totals no later than the first work day of May. Units will be required to adjust any pre-budgeted September amount to the actual differentials/study abroad revenues earned in the current fiscal year. For departments that chose not to take advantage of the “pre-budget” opportunity in September, the current year actual revenue amount must all be budgeted no later than the May budget amendment. Board of Regents policy requires that available allocations must be expended during the same fiscal year that the revenues are earned.
- When students are enrolled in dual degree programs with differentials, both programs will receive a portion of the total differential paid. The distribution is determined by the ratio of differentials to each other between two programs. A template for calculating the split of such differentials is available on the Budget Office website (See Appendix A for a sample).
- Summer semester revenues: Units receive 60% of the upcoming summer revenue in the current fiscal year. The remaining 40% will be budgeted for the following fiscal year. This split coincides with requirements for reporting Summer tuition & fees from all sources to the Board of Regents. If desired, a carry-forward of the current year’s 60% may be requested via e-mail to the unit’s assigned budget analyst, no later than May 31. For purposes of estimating the 60%, the maximum allowed carry-forward is 60% of the PRIOR summer’s revenue. A ‘true up’ opportunity is provided in the next fiscal year after Summer semester ends and information about actual revenue earned is provided by the Bursar’s Office in September (See Appendix B for an example of budgeting adjustments).
Units should contact their assigned analysts with any questions or concerns regarding the procedure. To look up the contact information for the analyst assigned to a division/department, go to "Institute Budget Planning & Administration Staff" and click on the link “Budget Analyst Assignments” below the list of Budget Development & Management staff.