Annual
Operating Budget Timeline and Process
The
following is a timeline of the process used to complete a budget for
an even numbered fiscal year (i.e., FY 2002, 2004, 2006 etc.) The process
varies slightly among component institutions. This schedule is typical
of a year in which the Texas Legislature meets.
Monthly
Budget Council Meetings (Begins in October through completion)
- Analyze data for potential reallocation of resources,
- Review any new cost savings initiatives,
- Review proposed new fees,
- Review other potential income sources or increases,
- Project current income stream, and
- Review requests for additional funding.
- Establish priorities
Institution
Budget Councils Meet (February to May)
- Establish salary policy.
- Firm up income projections.
- Send budget instructions to departments.
- Establish timeline for departments to follow.
- Most institutions conduct departmental budget hearings held with
the Budget Council.
- Discuss strategic goals and objectives, progress toward attainment,
and budget needs.
- Texas Legislature finalizes appropriation bill (late May).
Board
of Regents approved general budget policies & guidelines in May
- The BOR direct that the budget must be limited to funds available
from estimates
of tuition and fees, general revenue and limited use of institutional
balances.
- Establish goal for merit salary policy.
- Provide revenue estimates for capital equity funding and tobacco
endowment funds.
- Provide staff benefit guidelines for staff group insurance, Workers'
Compensation Insurance, and Unemployment Compensation Insurance.
Budget
Goals and Priorities Hearings With System Administration (First week
of June)
- Discuss ongoing resource reallocation process.
- Discuss institutional goals and objectives, progress toward attainment,
and budget needs.
- Institutional Budget Councils finalize budget based on recommendations
from System Administration.
Budget
Office Review (Late June - Mid July)
- System Budget Office analyzes draft budgets and conduct technical
reviews with component budget officers. Each budget is reviewed for
compliance with current policy.
Budgets
Finalized (Mid to Late July)
- Final budget submissions reviewed to determine technical changes
have been made.
- Summary document and Chancellor's presentation prepared.
- Formal budget approved at the August BOR meeting.
The
following is a timeline of the process used to complete a budget for an
odd-numbered fiscal year (i.e., FY 2003, 2005, 2007 etc.) This schedule
is typical of a year when the Texas Legislature does not meet.
Monthly
Budget Council Meetings
(Process and timetable are identical to schedule shown above).
Board
of Regents approve general budget policies & guidelines in February
(Process is identical to schedule shown above).
Institution
Budget Councils Meet (February to mid-March)
(Process is identical to schedule shown above).
Budget
Goals and Priorities Hearings With System Administration (early to
mid-April)
(Process is identical to schedule shown above).
Budget
Office Review (early May)
(Process is identical to schedule shown above).
Finalize
Budgets in (late May - August)
- Final budget submissions reviewed to determine technical changes
have been made.
- Summary document and Chancellor's presentation prepared.
- Prepare legislative appropriation requests early June through mid-August.
- Current year budget included as part of legislative appropriation
requests.
- Formal budget approved at the August BOR meeting.
- Legislative appropriation requests due mid-August.
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