9.22 Budget (Internal Financial Management)
For the University of Northern Iowa to remain a fiscally-solid university,
it is necessary that all parts of the university adhere to budget allotments.
Responsible individuals must take a strong stance to prevent overdrafts
or over-expenditures. Everyone in the university is expected to exercise
financial diligence within established budgets.
Should emergencies arise, the Budget Director may be authorized to make
budgetary adjustments, but only in exceptional cases.
In order to insure financial integrity and stability, several financial
principles will be followed, including:
1. Checks will not be written for expenditures (e.g., purchases, travel)
unless funds are available.
2. Computer-generated account balances will be distributed to internal
vendors (e.g., campus stores). A listing of overdrawn accounts will be
distributed weekly.
3. Purchasing will operate under the following calendar restraints:
A. Equipment orders should be processed before May 15.
B. Supply and services orders should be processed before May 31.
These steps are necessary to protect university funds from reversion
to the State Treasury, given the action of the General Assembly requiring
delivery of orders for supplies and services by June 30.
4. Building repair and special capital allocations, assuming the availability
of funds at the end of the fiscal year, will be communicated to the Business
Director and must be committed in the General Ledger System. Greater attention
will be given to making these expenditures in January/February/March,
rather than in April/May/June.
5. Physical Plant jobs (renovation, building repairs) will be periodically
reviewed to update "estimates."
6. The responsibility for periodic budgetary projections during each
fiscal year is officially assigned to the Budget Director, who will convey
these recommendations to the President, the Cabinet, and the Controller's
Office.
It is important for all of us in the university to know that the statutorily-mandated
reversions actually work against good planning. However, there are few
options. These financial principles should provide the university community
more pertinent budgetary information, earlier in the fiscal year. Everyone
needs to modify their expenditure patterns, especially for equipment and
building repairs, so to avoid any last-minute spending sprees. Every effort
must be made to insure effective budget control, wise planning for expenditures,
and open communication. Your help and support will be appreciated by all.
2/3/92
President's Bulletin, No. 148, 1/17/93 | 
