The annual operating budget process determines an annual spending plan based on strategic objectives, known and anticipated revenues and expenses, and day-to-day operational costs of the unit.
The University Longview budget management tool will reflect a unit's expenditure plans for the next fiscal year, but ideally, a multiyear budget plan is in place.
The following service options are available for the annual budget:
- Budget Support: The customer unit develops and communicates their budgets (by account) and provides them to their SSC finance service associate (FSA) for entry into the university's budget system. The FSA will validate that the entries are balanced; answer system-related inquiries from the University Budget Office; process budget adjustment e-docs in-year, as directed by the customer; and produce budget reports for customers.
- Budget Development (includes Budget Support): The SSC FSA will develop customer unit budgets (by account) in consultation with the units. As with budget support, the FSA will validate the entries; answer system-related inquiries from the University Budget Office; process budget adjustment e-docs in-year, as directed by the customer; and produce budget reports for customers.
- The information provided by the unit during this process should involve any changes in strategic planning or planned initiatives; if there will be any large unplanned expenditures, changes in agreed-upon transfers or budgets; and new funding sources. In addition, the unit will inform the FSA and administrative human resources of any staffing changes (reclassification, new hires, resignations, position refills, etc.).
- The FSA prepares an initial budget draft based on prior-year expenditures, strategic planning initiatives, or other planned changes. Once this is reviewed, discussed, and finalized with the unit, the FSA will enter the budget into the university's budget system.
