Each fiscal year the Georgia General Assembly allocates funds to higher education, known as state appropriations. After the bill is passed and signed by the Governor, the Board of Regents of the University System of Georgia makes allocations to the institutions within the System. Each institution of the System prepares an operating budget for educational and general activities and an operating budget for auxiliary enterprises of the institution for the fiscal year within the limit of funds allocated plus estimated internal income of the institution.
In the Fall of each year, the Board of Regents contacts the University of Georgia Budget Office concerning the scheduling of the Board of Regents Annual Budget Conference. Once scheduled, representatives of the University meet with the Board of Regents to determine the state appropriations to be allocated. Subsequent to that meeting, the University Budget Office prepares budget development Instructions for the University. The previous year’s amended budget is reviewed and “original budget allocations” are created. When necessary, this includes salary increase allocations and faculty promotions.
Budget allocations worksheets are then produced and provided to University units. Using these worksheets, University units then prepare and submit budget requests through the WebDFS Budget Development system. Once all University units submit their budget requests, the data is cross-checked by the University Budget Office to ensure that it balances with the budget allocation worksheets. When in balance, the original budget is the compiled and sent to the Board of Regents. Once approved by the Board of Regents, the original budget is transferred to the IMS Financial Systems mainframe.
Policy Contact: University Budget Office
Phone Number: 706-542-2802
Responsible University Senior Administrator: Vice President for Finance & Administration
Responsible University Administrator: Associate Vice President for University Business and Accounting Services
Policy Owner: University Budget Office
Policy Contact: Ken McCollum
Citation or Reference: Annual Budget Records
This series documents the annual institutional budget provided for inclusion in its Annual Adopted Operating Budget book. This series includes: operating budget expense by categories and functions report; estimated gifts, sponsored programs post award accounting, and clearing account summary report; student fee income and application of funds report; statewide public service source and application of funds; other reports specified by the Chancellor's Office; and institutional budget preparation instructions.
Retention: Annual operating budget: PERMANENT; All other records: 7 years.