University Budget Process
• Stability of revenue sources compared to
most businesses
• Role of financial statement- financial
accounting at one point
• Operational key- expenditure budget
primarily for one revenue source:
Education and General
How do we get revenues
•
•
•
•
•
FBOE
Governor
Legislature (with proviso language)
Governor (with line item veto)
Revenue shortfall this year in one
source- Education and General
Primary Revenue Sources
• Education and General
• Auxiliary Revenues (and Local
Funds)
• Financial Aid
• Other Revenue Sources
• Capital Projects- revenues and
budgets entirely separate
2001-2002
Education &General
Revenues
• General Revenues
• Lottery
• Student Tuition
$59,283,229
3,504,412
20,497,658
TOTAL
$83,285,299
Education and General
Budget Process
• Guidelines/priorities
• Requests from units to vice
presidents; Prioritize requests by
vice presidents to President
• President reviews divisional request
with the responsible vice president
• Decision by President
Auxiliary Revenue Sources
• Auxiliaries are revenue earning units that
support the University Mission
(i.e., food service, housing, parking,
University Center, Continuing Education)
• Also includes local funds for athletics,
student government, student
health/miscellaneous activities
2001-2002
Auxiliary Revenues
•
•
•
•
Sale of Goods and Services
Athletics
Student Government
Student Miscellaneous
TOTAL
$18,413,727
3,121,951
2,393,560
1,885,909
$25,815,147
Budget Process for Auxiliaries
• Guidelines/priorities
• Requests from units to VPs; includes revenue
estimates and proposed expenditures
• David Wesse, Assistant Vice President for
Auxiliaries
• Auxiliary Oversight Committee makes
recommendations to the President, including
revenue estimates and proposed expenditures
• President decides
Financial Aid Revenues
• Allocations decided by externally
imposed criteria
• Decision on individual fit to criteria
by institution or other entity
• Includes Foundation scholarships
2001-2002
Financial Aid
•
•
•
•
•
State Appropriations
Federal
Student Fees
Private Student Loans
UNF Foundation
TOTAL
$ 7,096,103
10,086,931
1,100,000
16,569,940
697,026
$35,550,000
Other Revenue Sources
• All expenditures are contractually
required
• Estimates based on previous year’s
actual revenues
2001-2002
Other Revenue Sources
• Contracts and Grants
• Foundation
• TSI
$9,390,906
405,936
148,158
TOTAL
$9,945,000
2001-2002
All Sources
•
•
•
•
E&G Revenues
Auxiliaries
Financial Aid
Other Revenue Sources
TOTAL
$83,285,299
25,815,147
35,550,000
9,945,000
$154,595,446
2001-2002
E&G Budget
• President Unit
$ 2,592,073
• Administration and Finance
19,829,301
3.1%
23.8%
– Plant Maintenance
7,507,302
– General Administration 12,321,999
• Institutional Advancement
• Student Affairs
• Academic Affairs
• Reserves
TOTAL
1,821,304
2,285,948
55,317,827
1,438,846
$83,285,299
2.2%
2.7%
66.4%
1.7%
100.0 %
Reserves
• Reserves established to cover contingencies
and emergencies for all revenue sources
• For E&G reserves held for- potential call backs,
potential enrollment shortfalls, utility cost
increases, leave liabilities
• For Auxiliaries reserves held for- contractual
requirements, leave liability, potential revenue
shortfall, repair and replacement
Budgetary Controls
• Divisional budget officers monitor department accounts
against the budget
• University Budget Officer and Controller monitors all
balances against budget
• University Budget Officer and Controller monitors student
enrollment
• Funds reserved (encumbered) to cover purchase orders
and projected salary expenditures
• Auxiliaries submit quarterly reports on revenues to the
Budget Office
• State auditors on campus
• UNF Inspector General
• State controller “pre-audits” expenditures for compliance
before payments are made