24.2 Budgeting of Fees
Institutional budgeting is covered in Section 8 of the Business Procedures Manual (BPM). Budgeting for mandatory and elective student fees is specifically addressed in Section 8.3 of the BPM. For mandatory fees (excluding the special institutional fee), an advisory committee as described in BOR Policy 18.104.22.168 should review the annual budget and make recommendations to the institution president regarding the adoption of the budget. It is recommended that any significant mid-year amendments or changes to the budget that are associated with activities not included in the original purpose of the fee be shared with the advisory committee.
The financial information presented to the advisory committee (for both the original budget and any amendments) should include the beginning fund balance amount (less committed reserves) and projected current year revenue and disbursements.
When reviewing budgets, it is not the advisory committee’s responsibility to determine the salary amount for any position, however, total salaries and the positions funded should be disclosed on the budget reports presented to the advisory committee. It is acceptable to present these amounts combined on one line for salary and benefits with a disclosure indicating the positions.
In general, the Board will approve the total budget at an overall summary level in accordance with state budgetary laws and regulations. Student fees are generally included in one of three revenue categories: other general, auxiliary, or student activities, depending on the nature of the fee. The specific expenditures, (e.g. travel, salaries, training) included in the approved budget are recommendations to the President who has discretion in spending the funds as long as the expenditures are used for the intended purpose of the fees.