2.2.4 Budget Committee

(Bylaws)

The Budget Committee is responsible to the President.
The committee consists of the President, chair; the Vice President for Financial Administration, vice chair; six ex-officio members: the Vice President for Academic Administration, the Vice President for Student Life and Mission, the Associate Vice President for Financial Administration, secretary; the university controller, the chair of University Senate, the chair of University Master Planning Committee (or designee); two faculty members elected by the faculty in multi-candidate elections (faculty should be selected to maintain balance between the three academic areas); and two staff members elected by the staff, one from University Relations and Advancement and one from staff-at-large.
The term of membership for elected members is four years. Terms are staggered to provide continuity.
The work of the committee is to
1. Develop a three-year rolling operating budget plan for the University with specific emphasis on the next fiscal year by interacting with budget managers (persons who control financial expenditures from any part of the university budget), and the Vice President or President to whom they report (area administrator). In creating the university budget, the Budget Committee will
  i. Provide information to budget managers and area administrators regarding financial trends within their areas of responsibility
  
  ii. Request input from budget managers regarding anticipated budget needs and requests
  
  iii. Compile and evaluate requests with regard to available resources, with detailed allocations within departments subject to the oversight of the respective area administrator, in consultation with financial administration
  
  iv. Prepare budget recommendations for submission to the University Board
2. Monitor current expenditures of the University to
  i. Assess expenses in relation to budgets
  
  ii. Alert administrators and budget managers to budgetary concerns
  
  iii. Evaluate the university budgeting process
  
  iv. Develop long-range financial plans for the institution in consultation with University Master Planning Committee
The committee meets at least monthly during the school year, and as needed during the summer. Meetings are called by the chair or the vice chair. The vice chair may chair the committee in the chair's absence.

(Procedures)

Protocol
1. Agendas are developed by the secretary, in consultation with the chair and vice chair, and distributed at each meeting.
2. Actions are taken by majority vote or by consensus.
3. Committee workload (average in clock hours per quarter):
  i. Chair: 20 hrs.
  
  ii. Vice Chair: 30 hrs.
  
  iii. Secretary: 60 hrs.
  
  iv. Members: 15 hrs.
4. The vice chair will provide budget projections to budget managers based on anticipated costs for fixed expenses such as wages and benefits and for general departmental expenses.
5. Each budget manager will respond by providing estimated costs and rationales for additional budget requests.
6. The committee will then interact with budget managers in finalizing budgets, encouraging a proactive dialog and openness in the university budgeting process.
7. The committee will work closely with administrators and budget managers throughout the year to monitor compliance with the budget.
8. The committee will assess the budget process through an annual review, seeking the input of budget managers.
Communication
1. Minutes of the meetings are recorded by the secretary.
2. Minutes are distributed to all members of the committee and are available at the chair's office. Minutes are kept in the Central File for archival purposes but are not available to the campus or the public in electronic format.
Documentation
1. A summary of the rationale is included along with each action taken, which may be in the form of notations in the minutes or an attachment to the original of the minutes.

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2.2 Committees