Fiscal Year-End Budget Review
Purpose
After the close of the fiscal year, a review is made of actual and budgeted expenditures.
Over-budget academic and administrative departments
- The Budget Office will review all departments that have overspent their fiscal year budgets after the year has been closed.
- If an over-budget department has endowed funds or restricted gifts, and the restrictions on either the endowment funds or gifts do not prohibit it, these restricted funds will be appropriated to offset the over-expenditures.
- For those departments that have neither endowment funds nor gifts, the new fiscal year budget non-personnel budgets may be reduced by the prior year over-expenditures after consultation with the Department Manager and his/her Senior Staff person