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State Funds


    Policy Statement
    Pursuant to the policies of the University System of Georgia, the University of Georgia shall prepare an operating budget for educational and general activities and an operating budget for auxiliary enterprises for the institution for each fiscal year within the limit of funds allocated plus estimated internal income of the institution.
    Reason for policy
    The University of Georgia budget is designed as a comprehensive fiscal plan for implementing its mission as a land-grant and sea-grant University with statewide commitments and responsibilities, as the state's oldest, most comprehensive, and most diversified institution of higher education. Our motto, "to teach, to serve, and to inquire into the nature of things," reflects the University's integral and unique role in the conservation and enhancement of the state's and Nation's intellectual, cultural, and environmental heritage. The implied values of the budget as a comprehensive fiscal plan for the institution include accountability, efficiency and efficacy.
    Procedures
    Each fiscal year the Georgia General Assembly allocates funds to higher education. 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 years 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.
    Forms/Instructions

    There are no forms associated with this policy.

    Additional contacts

    Policy Contact:  Budget Office

    Phone Number: 706-542-2802

    Email:  budgets@uga.edu

    Policy definitions

    There are no definitions associated with this policy.

    Responsibilities

    Responsible University Senior Administrator:  Vice President for Finance & Administration

    Responsible University Administrator: Senior Associate Vice President for Finance & Administration

    Policy Owner: Budget Division

    Policy Contact:  Budget Office

    Phone Number: 706-542-2802

    Email:  budgets@uga.edu

    Record Retention

    Description:  This series includes: operating budget expense by categories and functions report; estimated gifts, grants, contracts 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.

    Policy Appendices

    There are no appendices associated with this policy.

    FAQs

    There are no FAQs associated with this policy.

    See the University System of Georgia Board of Regents Business Procedures Manual for Original Budget:
    http://www.usg.edu/business_procedures_manual/section8/manual/8.5_original_budget
    See the University System of Georgia Board of Regents Policy Manual for additional details about operating budget policies and budget amendment policies: http://www.usg.edu/policymanual/

    See the University System of Georgia Board of Regents Business Procedures Manual for additional details about operating budget processes and budget amendment processes: http://www.usg.edu/business_procedures_manual/

    See the University System of Georgia Board of Regents Records Management and Archives for additional details about records retention: http://www.usg.edu/records_management