IS - 1800 Internal Budget Revision Financial Administration
Release Date: 12-19-97 Revision 2
Revision 3: 11/10/04
Revision 4: 3/15/07
Policy

Administrative Directive

Introduction

Internal Budget Revisions (IBRs) are adjustments to existing budgets.  They can be temporary (affecting only the current year) or permanent.

1. Transfer of Funds

Departments may transfer funds affecting operating expenses and/or personnel accounts.

1.1   Operating Expenses

1.1.1 Departments may transfer funds for goods and services when requested and signed by the appropriate control agent and approved by the appropriate vice president.  The goods and services involve such things as:

  • Contract Services

  • Supplies

  • Travel

  • Training

  • Copy Usage

  • Marketing

  • Equipment

1.2   Personnel Accounts

1.2.1 Any budget revisions affecting full or part-time personnel budgets require the approval of the appropriate vice president.  Increases in the classification level of vacant full-time positions require the use of departmental operating expense budgets.

1.2.2  Any request for the use of salary savings requires completion of the Internal Budget Request (IBR) accompanied by a detailed explanation indicating whether the adjustments are permanent (recurring) or temporary (non-recurring) and a justification for the request. 

1.2.3  All IBRs must conform with the following signature approval requirements:

  • IBRs originated by departments need control agent and appropriate vice president's signature

  • Uses of salary savings require Executive Team approval

  • Transfers of student funds require the approval of Dean of Students

  • Transactions affecting restricted funds require the approval of the Budget Director

  • Transactions affecting Perkins funds require the approval of the Vice President for Academic Affairs

  • The Budget Director approves all remaining IBRs including corrections, reallocations of allocated costs and reclassifications

2. Definitions

Control Agent A CNM employee assigned signature authority for expenditure of funds.
Executive Team A team comprised of the President and Vice Presidents
Forms:      Internal Budget Revision
Support Materials:      Not Applicable
Reference Materials:      Not Applicable