Financial Planning & Budgets
About
Financial Planning & Budgets provides basic information and guidance to all departments/schools and offices of the University concerning the establishment, revision, reporting, administration and control of budgets as directed by the Chancellor, Board of Governors, State Budget Director and North Carolina General Statutes. We coordinate the preparation of the biennial budget request and administers those budgets when approved. We also administer budgets for auxiliary operations, the Chancellor’s allocation of unrestricted gifts and investment income, student fees and overhead receipts. The office plays an integral role in the issuance of bonds to finance self-supporting construction projects and prepares financial projections for auxiliary operations and student fees.
Budget Overview
A budget is what allows you to perform spending within the system.
A department can perform a budget transfer via UNC Genie to reallocate their current budget using the below guidelines:
- Within same STATE fund between temporary and student wages.
- Within same STATE fund between OTP budget pools.
- Within same TRUST fund between any NON-salary accounts.
- IMPORTANT – Use ONLY Whole Dollars, No Cents!!!
- Dean’s Office can transfer between two State funds within same Program (e.g. 101).
When budget is transferred between the following using a state fund:
- Purposes (Banner Program Codes)
- Salary and Other Than Personnel (OTP) Accounts
- Different Salary Accounts
- Adopted Budget – The adopted budget is your original budget at the beginning of the fiscal year. However, please note that most state fund budgets are posted as an adjustment and therefore do not appear in this column.
- Budget Adjustment – The budget adjustment column represents all permanent and temporary budget adjustments made during the fiscal year.
- Temporary Budget – The temporary budget column represents all temporary budget adjustments plus temporary allocations made during the fiscal year.
- Accounted Budget – The accounted budget column represents the adopted budget and all budget adjustments made during the fiscal year.
- Year-to-Date – The year-to-date column represents year-to-date expenditures made during the fiscal year.
- Encumbrance – The encumbrance column represents encumbrances throughout the fiscal year. Encumbrances include purchase orders and departmental invoices for Physical Plant.
- Reservations – The reservations column represents reservations throughout the fiscal year. Reservations include purchase requisitions that have not been converted into purchase orders. “No longer used since requisitions are no longer generated in Banner”.
- Commitments – The commitments column represents any commitments during the fiscal year. Commitments are actually a summary of both encumbrances and reservations. Please note that the drill down feature is not available for this column. We will cover the drill down feature later in the presentation.
- Available Balance – The available balance or budget balance available column is the remaining budget that is available for the current fiscal year. It equals your accounted budget minus year-to-date expenditures, less any commitments which include encumbrances and reservations.
Position Control
Position control is the management of position budgets to assure that subsidiary records, position by position, agree to the budgets authorized by the General Assembly for state funds and agree to the availability of resources to meet salary obligations, for other account types. Salary and related costs represent over 80% of the University’s budget.
Obligations for any salary to be paid on the Human Resources System (HRS) through June 30 are encumbered on your account.
The revised budget reflects the Original Budget adjusted for budget flexibility or other budget transfers.