Budget Requirements - Non-General Fund Accounts
FIN-BUD-10
About This Policy
- Effective Date:
- 10-01-1990
- Date of Last Review/Update:
- 03-21-2012
- Responsible University Office:
- University Budget Office
- Responsible University Administrator:
- Vice President and Chief Financial Officer
- Policy Contact:
- Samuel B. Adams
Associate Vice President – Budget & Planning
University Budget Office
sbadams@iu.edu
- Policy Feedback:
- If you have comments or questions about this policy, let us know with the policy feedback form.
Policy Statement
Accounts within the fund groups of 20-23, 27-29, and 60-66 that incur compensation related expenses or that have a volume of expenditure activity of $30,000 or more each fiscal year must establish an operating budget.
Reason for Policy
To provide for budgets in non-general fund accounts with compensation expenses or specific levels or activity.
Definitions
A budget plan, in addition to helping managers with their fiscal responsibility, imparts to others that have a need to review or become involved with the accounts, the fact that there is a definite plan and that all commitments resulting from the plan, such as staff benefits, have been recognized and included.