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Offices/Budgets/Accounting/Budget Preparation

Budget Preparation

Budget Preparation

Each department of the University operates within an approved annual budget. The Educational and General (1XXXX Fund) and other funding budgets for the subsequent year is developed in the spring of each year, finalized when fund allocation is made by the Oklahoma State Regents for Higher Education (OSRHE), and implemented upon approval from the Regional University System of Oklahoma (RUSO) and the OSRHE. The budget year is July 1 through June 30.

Budget Preparation Procedure

1. Preliminary planning is done within each college/department in the process of scheduling classes/programs for the following year.

2. The Vice President for Administration and Finance and the AVP of Business and Finance will meet with account sponsors and distribute the following information for preparing budget requests:

    1. Budget letter indicating calendar/deadlines
    2. Blank Operating and Income Budget Form
    3. Current Operating Budget for E&G and Student Activity Fees
    4. Current Position listings of FTE

3. Proposed budget requests are submitted to the respective Vice Presidents, who may meet with the account sponsors to review requests and establish priorities. However, this must be done within a time frame that meets the deadlines set in 2­a.

4. The VP of Administration and Finance collects and analyzes budget requests. Items that need clarification are reviewed through the respective Vice Presidents.

5. Final allocation requests are determined by the Vice Presidents, with final approval from the President.

6. The total University budget is then submitted for approval to RUSO and OSRHE.

7. Once the budget has been approved, the VP of Administration and Finance will distribute the following items to each account sponsor:

  1. Approved department budget for Education and General and Student Activity Fees
  2. Approved position listing that includes the names of employees currently filling those positions and their approved salaries for the budget year. 

* Note: Matching College Work­Study wages includes only the State matching funds at a current ratio of 25 percent. The Federal portion of 75 percent is held in a separate grant account. The account sponsor may assume that the State share is matched with the Federal portion even though it does not show in the budget.