Frequently Asked Questions

  • Q. What is the total amount of the FY 2012 Working Budget?

    R. For fiscal year 2011/2012, the total is $124,599,334, which includes 754.32 FTE. This budget is based on an enrollment of 4,238 FTE. 

    Q. What is a general fund budget and how can it be used?

    R. General fund budgets begin with a ‘1’ and are used to sustain and grow the operations of the University.  The funds are used for salaries, benefits, communications, travel, contractual services, supplies, equipment, scholarships, etc.  The funds cannot be used for gifts, food and entertainment.  A general fund account must be positive by year-end.

    Q. What is the difference between State accounts and non-state accounts?

    R. State accounts are current unrestricted revenues and expenditures related to the institution’s educational objectives. Non-state accounts can be Auxiliary (student Fee funds and self-generated revenues or sponsored programs), (external funding from sponsored program activities such as grants, contracts or externally funded activities).

    Q. Who has the authority to expend funds?

    R. The project manager and department chair by going through the approval process.

    Q. Why is a subcode/object code required for all financial transactions?

    R. Object codes are a useful management tool-they help you determine where your money is being spent. When expenses are coded correctly, you will know by looking at your FRS reports and screens how much money was spent on Office Supplies, Research Supplies, Computers, etc.

    Q. Where can individual salary data be located?

    R. Each fiscal year, a salary book is taken the Frederick Douglass Library where it is available to the public in the reference section.

    Q. What is the difference between an operating and capital budget?

    R. An operating budget is a financial plan of current operations that includes both estimated revenue and estimated expenditures for a specified period, normally one fiscal year.  A capital budget is a plan of proposed capital outlays and the means of financing them.

    Q. Can an employee receive an advance of funds for travel?

    R. Employees traveling with students may receive an advance for the students that are traveling.  This includes coaches traveling with an athletic team.  Funds are not provided in advance for employees traveling alone unless they are travelling out of the country.  You must submit an expense statement for reimbursement of monies spent while traveling.

    Q. As a director/department chair, how may I obtain a copy of the operating budget for my department?

    R. At the beginning of each fiscal year, copies of the operating budget are provided to the vice presidents of each division for distribution to their respective areas.  In the event you do not receive a copy, one may be provided by the budget office.

    Q. What creates shortfalls in the university’s budget?

    R. There are several reasons shortfalls may occur in the budget.

    1. Revenues expected are not met
    2. Budget cuts
    3. Projected enrollment not met 
    4. Mandatory expenditures, i.e. health insurance, fringe benefits

    Q. How would I see a copy of the University’s annual operating budget?

    R. The university’s operating budget is available on the web site.

    Q. How do I obtain access to FRS?

    R. Access to FRS for authorized personnel is obtained through the comptroller’s office.