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Year-End Budget Retention Policy
Academic and Student Affairs Process and Procedures
Effective date: March 8, 2017
Appointing officers retain any unspent year end general fund operating (non-salary) balances with exceptions noted below which will be retained by the Provost.
- PIC International tuition subsidy funds
- Center for Adult and Continuing Studies
All unspent general fund salaries at year end will be retained by the Provost.
Designated reserve funds will be established for each appointing officer and spending must follow the Policy for University Designated and Plant Reserve Funds.
Total net overspent year-end general fund operating balances will result in a zero transfer to the appointing officer designated reserve fund and a subtraction from the working budget for the following year by the Provost.