ABAC 7.2 -- Budgets

The Vice President for Finance and Operations has primary responsibility for providing assistance to the President in the preparation and control of College budgets. There is a division of authority and responsibility incorporated into the University System of Georgia policies and procedures concerning the administration of financial resources. The chief executive officer (President) of the College "shall be the executive head of the institution and of all its departments, and shall exercise such supervision and direction as well as promote the efficient operation of the institution". Sole authority and responsibility for the management of financial resources reside with the Executive Vice Chancellor for Strategy and Fiscal Affairs and Treasurer of the Board of Regents. The chief business officer of an institution (Vice President for Finance and Operations of Abraham Baldwin Agricultural College), in all financial matters, acts as an agent of the Treasurer of the Board of Regents within authority specifically delegated by the Treasurer. "The Executive Vice Chancellor for Strategy and Fiscal Affairs and Treasurer are authorized, with the approval of the Chancellor, to delegate to the chief business officer of any institution the authority to execute any and all documents which may be necessary, required or desirable in order to provide proper fiscal management of funds given to the institution or to the Board of Regents for the benefit of the institution concerned."

The Vice President for Finance and Operations, through audits, reports, and the PeopleSoft financial accounting and reporting system (directly accessible by the Office of the Treasurer of the Board of Regents), is constantly monitored for compliance with Board of Regents policies and procedures and fiscal accountability.

Planning, Development and Administration of Budgets

The President has sole authority and responsibility for planning, development, and approval of the College budget for transmittal to the Chancellor and Board of Regents, subsequent amendments to that budget, and assurance of the integrity of the administration of the budget to affect the mission of the College. He exercises this authority and responsibility by assignment of certain duties and responsibilities to the Vice President for Finance and Operations.

The College prepares an appropriately detailed annual budget. The two principal categories of budgeting are for Personal Services (salaries, benefits, including student and graduate assistant wages) and Non-Personal Services (travel, operating expenses, and equipment). Each subcategory is further divided into individual line items such as supplies and materials, repairs and maintenance, printing, subscriptions, computer charges, telecommunications, etc.

Each institution submits their original budget for approval by the Board of Regents. The original budget and subsequent amendments serve as the basis upon which institutional financial performance is assessed each year through regular reports to the Board of Regents.

Budgetary control is the responsibility of the President, assisted by the Vice President for Finance and Operations. Revisions in the budget are made through budget amendments that follow a prescribed approval process. According to University System policy, directives and procedures, the institution maintains a centralized system of budget control, and renders monthly interim budget statements to department heads.

The President, with the assistance of the Vice Presidents, gathers information, including projected enrollment, new program funding requests, and other such information, to assist in the preparation of the College's request for funds. The President presents this information to the Chancellor.

Budget hearings are held in the spring of each year by the President, the Vice Presidents, and the Comptroller.  Departmental budget managers present their needs and requests for operating funds for the upcoming fiscal year.  Upon receipt of the allocation from the Board of Regents, the President, with assistance from the Vice President for Finance and Operations and the Comptroller, distributes Personnel Service Worksheets to the Departmental Budget Managers. Instructions are given regarding the total percentage of funds available for awarding as salary or wage increases. The Departmental Budget Managers recommend increases, if funds are available, which are then reviewed by the Vice Presidents and President. Final approval for all increases resides with the President.

Based on these modified and/or approved requests, the staff of the Vice President for Finance and Operations prepares a budget plan for the operation of the College from July 1 through June 30 of the succeeding fiscal year. When completed and published, it is forwarded to the Board of Regents over the signature of the President and, once approved, becomes the official budget for the College.

The Comptroller publishes copies of the official budget and distributes copies to each appropriate Administrative Head for all budgets and accounts within his or her area of responsibility. The Comptroller ensures that budget data are keyed into the PeopleSoft financial, budgeting, and human resources systems and any other College subsystems.

Student Activities Budgets

To provide for funds for certain educational, cultural, recreational, or social purposes for the benefit of the College’s students, Abraham Baldwin Agricultural College will, after approval by the Board of Regents, charge mandatory Student Activity Fees. The College will recommend to the Board of Regents the amount of such fees to be charged to the students. When approved by the Board of Regents, such fees are mandatory and all fees collected are subject to the control and audit of the Board of Regents and the provisions of this Manual.

The President, the Vice President for Finance and Operations, and the Provost and Vice President for Academic Affairs will annually review the budgets for the proposed use of Student Activity Fees, and the President will certify to the Board of Regents that the proposed expenditures for such fees are for educational, cultural, recreational, or social purposes for the benefit of the students and the amount of fees collected and the allocation of funds resulting from such fees have been in a manner consistent with BoR requirements.

Budget Maintenance

The Office of the Vice President for Finance and Operations will provide monthly Appropriations Ledger History Reports and Budget Progress Reports to each budgetary administrative unit and, through the Director of Budgets and other appropriate staff, will assist Departments, Divisions, and other Units, in interpreting and maintaining each budget account throughout the fiscal year.