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SECTION 507: BUDGETING
SOURCE: NDSU President
NDSU will fulfill the responsibilities of State Board of Higher Education Policy 802.6, part 5, which requires that institutional presidents shall:
- Allocate institution resources in a manner consistent with expected Board outcomes and pertinent laws, rules, policies and governing accounting policies and procedures, and, within limits established by this policy, reallocate resources within the institution. Annual budgets are approved at the institutional level, not functional or departmental level. Institutions may make budget revisions if the revisions are adequately documented and the president or other institution officer who is delegated that authority has approved the revisions. Institutions may spend income collected from non-general fund and non-tuition income sources provided the president or other institution officer who is delegated that authority has approved the expenditures;
- Ensure that the Board's budget guidelines for a given fiscal year are incorporated into the institution budget and are carried out operationally;
- Be accountable for all funds, property, equipment and other facilities assigned or provided to the institution to ensure that all are used consistent with laws, policies or other specific requirements;
- Periodically report budget and other fiscal status to the Board, consistent with the format and intervals as established by the Board, to alert the Board to significant budget and fiscal variances;
- Adequately plan and make necessary budget or spending adjustments to avoid unusual deficit fund balances at fiscal year end;
- Ensure that monitoring procedures are in place to ensure that the campus operates within the annual budget as approved, except as otherwise permitted by this policy; and
- Ensure that all institution officers and employees act in a manner that is consistent with established university system priorities.
HISTORY: February 26, 2001.